Category Archives: Eco-socialism
Eco-socialism, green socialism or socialist ecology is an ideology merging aspects of Marxism, socialism, green politics, ecology and alter-globalization. Eco-socialists generally believe that the expansion of the capitalist system is the cause of social exclusion, poverty, war and environmental degradation through globalization and imperialism, under the supervision of repressive states and transnational structures.
Eco-socialists advocate the dismantling of capitalism and the state, focusing on common ownership of the means of production by freely associated producers and restoration of the commons.
Obama Plans to Rule America Outside the White House
Barack Obama has two faces. After Trump’s victory and Hillary’s defeat, the public Obama has been gracious and diplomatic. His lectures to Trump, directly and indirectly, are couched in praise. He echoed the feeling of millions on both sides when he said, “We are now all rooting for his success”.
That’s a lie. Or rather a disguise.
Obama and his aides had, in one insider narrative, decided to don the “mask of decorum”. The contempt for Trump still seeps through the mask. And the mask hides Obama’s next big move.
President Obama is over. He knows that. There are still some things that he can do before he leaves office, but everything except the most destructive, can be undone by his successor. The next phase of his campaign will not be fought from the White House. It will be fought against the White House .
The other Obama is emerging in conference calls with his supporters. “One of the challenges that I’ve discovered being president is I’d like to be organizer-in-chief, but it’s hard,” he said in one call.
Obama can no longer be commander-in-chief. Instead he’s plotting to become organizer-in-chief.
The infrastructure for the organization was put into place long before anyone thought that Hillary might lose. Organizing for Action gave him his own organizing hub. If Hillary had won, it would have been a pressure group. Now that Trump won, it’s an axis to build a personal counterrevolution around.
In his post-election conference call with his OFA troops, Obama told them, “I’m giving you like a week and a half to get over it”. Then it would be time to “move forward not only to protect what we’ve accomplished, but also to see this as an opportunity”. What opportunity could there be in Trump’s win?
Obama is now the only major national figure still standing among the Democrats. After Hillary’s defeat, he’s worked hard to attribute the loss to her shortcomings, not his policies and decisions. That’s not just to soothe his ego. If he’s going to dictate the future of his party, he can’t afford to be blamed for its latest disaster. And Obama is still determined to dictate the future of the party and the country.
In conventional politics, Obama is done. There’s no way back into the White House. And Hillary’s fate won’t leave much enthusiasm for nominating the uncharismatic spouse of a charismatic ex-president.
But Obama is not a conventional politician. He’s an organizer and a campaigner at the vanguard of a radical movement that seeks to control traditional institutions, but doesn’t feel bound by them. Unlike Bill Clinton, his plans don’t begin and end with the White House. As an organizer, Obama is equipped to build bases of power outside traditional institutions. And that is exactly what he is doing.
The demoralization of the Democrats is, as Obama put it, an opportunity. Social chaos is a time for the left to overthrow and undermine traditional institutions. Fear, anger and despair are radicalizing. The left has always operated by throwing bombs and then profiting from the fallout. That’s Obama’s agenda. Having wrecked the country and the Democrats, he sees that not as a setback, but as an opportunity.
“The network that you represent, you’re perfectly poised to do that,” Obama told his OFAers. “In other words, now is the time for some organizing.”
While the leftist rioters in the streets are garnering the most attention, the real threat comes from the network of staffers dubbed Obama Anonymous which are beginning to organize and coordinate. OFA is Obama’s equivalent of the Clinton Foundation. The Clintons built Clintonworld around staffers, but its goal was harvesting money. Obama Inc. is being built around organizing and activism. Like Clintonworld, it will be a network encompassing a variety of political and non-profit institutions. Unlike them, it will be much less focused on directing money to its bosses in preparation for an election. Instead it will function like a traditional leftist movement, merging influence operations with crowdsourced mobilization.
OFA will be far more dangerous in the wild than the Clinton Foundation ever was. The Clintons hoped to ride back to power on a giant wave of money. Obama is taking a much more radical course.
The staffers exiting government are being wired into Obama Inc. whether or not they take jobs directly working for him. The OFA alumni are building networks across organizations while taking their marching orders from him. They expect Obama to lead them back from the wilderness and into the halls of power.
He’s told them so.
“I’m going to be constrained in what I do with all of you until I am again a private citizen. But that’s not so far off,” he assured them. “I’m still fired up and I’m still ready to go.” His next comments promised that radical political change could and would take place.
Obama isn’t going to retire. He’s not going to spend years puttering around with a presidential library. He’s not even going to set up a Clintonesque slush fund and try to make his wife president. Instead he wants to force radical change from outside the White House by using the network he’s built.
While the public Obama wraps up business at the White House, concludes yet another world tour, alternating between praising Trump and offering him condescending advice, the other Obama is preparing to deploy a network that will dominate the Dems and set the agenda on the left.
If Obama succeeds, then he will get another shot at picking his White House successor. But beyond that, he’s been handed the keys to an organizing machine that will allow him to set even more of the agenda for his party than ever before. And he has a cause that is sending the party reeling back into his arms.
Obama believes that he can rule America from outside the White House. And he might be right.
Political norms and old rules have been falling faster than leaves in an autumn wind. If Obama sets out to move the center of power outside the White House and into an organization that will control national politics through the left, it would be dangerous to assume that he can’t and won’t succeed.
The Democrats didn’t respond to their defeat, one of a sequence, by trying to move to the center. Instead there is every sign that they are moving further to the left. Keith Ellison, a radical leftist with an anti-Semitic past, is tipped to head the DNC. Schumer still has the Senate, but Elizabeth Warren may have it before too long. Combine that with Obama as the president-in-exile and the Dems will be more radical and extremist than they were even when Obama was sitting in the White House.
The Democrats are ceasing to be a national party. Instead they are becoming a nationalizing party. They are losing their presence in much of the country, from state legislature to state legislature, and becoming the party of major cities and the national government. Their agenda is to move power from local areas to central ones, from the villages and the suburbs to the cities, from states to D.C. and from locally elected legislators in D.C. to the satellite bureaucracies of the Federal government.
Obama sees Hillary’s defeat as an opportunity to burn the Dem’s last bridges with the larger country and its “bitter clingers”, to double down on nationalizing power and to define the political narrative around the agendas of urban elites. The left crippled the Democrats. Now it wants to utterly consume them.
Barack Obama is still being vague and coy about his plans. He informs reporters that he will attack Trump when it comes to “core questions about our values and ideals”. But the “faithful” are getting much clearer signals. “You’re going to see me early next year, and we’re going to be in a position where we can start cooking up all kinds of great stuff to do.”
The election was a catastrophic disaster for the Democrats, but it opened all sorts of doors for Obama.
Hillary’s defeat removes the Clintons, his only real internal rivals, off the stage. Trump’s triumph in working class areas cuts more ties with the traditional Dem base and transforms it into a party of left-wing urban elites and their radical agendas. And the popular figures on the left, Bernie Sanders, Elizabeth Warren, Keith Ellison, lack his national stature, speaking skills and organization.
Obama will move to consolidate the left. And then the Democrats. He will function as a president-in-exile heading up the opposition to Trump. When it comes to verbally challenging Trump, Obama will be more likely to be interviewed and heard than Ellison or Schumer. And his people will coordinate responses across the left from street level organizing to think tanks and policy moves.
Some of it is ego.
Obama believes that he can find the key to beating Trump in the traditional tactics of the left. But most is ideology and power. Obama is not done transforming America. And America isn’t done with him yet.
Courtesy of Daniel Greenfield
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Posted in Cultural Revolution "FORWARD", Eco-socialism, Obama Lies, ObamaCare, Obamaleaks, Obamanomics, Progressive Agenda, Shadow Government, Shadow Party
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Tags: Agenda, Barack Obama, campaigner, OFA, organizer, organizer-in-chief
A Small President on the World Stage
At the U.N., leaders hope for a return of American greatness.
By PEGGY NOONAN
The world misses the old America, the one before the crash—the crashes—of the past dozen years.
That is the takeaway from conversations the past week in New York, where world leaders gathered for the annual U.N. General Assembly session. Our friends, and we have many, speak almost poignantly of the dynamism, excellence, exuberance and leadership of the nation they had, for so many years, judged themselves against, been inspired by, attempted to emulate, resented.
As for those who are not America’s friends, some seem still confused, even concussed, by the new power shift. What is their exact place in it? Will it last? Will America come roaring back? Can she? Does she have the political will, the human capital, the old capability?
It is a world in a new kind of flux, one that doesn’t know what to make of America anymore. In part because of our president.
“We want American leadership,” said a member of a diplomatic delegation of a major U.S. ally. He said it softly, as if confiding he missed an old friend.
“In the past we have seen some America overreach,” said the prime minister of a Western democracy, in a conversation. “Now I think we are seeing America underreach.” He was referring not only to foreign policy but to economic policies, to the limits America has imposed on itself. He missed its old economic dynamism, its crazy, pioneering spirit toward wealth creation—the old belief that every American could invent something, get it to market, make a bundle, rise.
The prime minister spoke of a great anxiety and his particular hope. The anxiety: “The biggest risk is not political but social. Wealthy societies with people who think wealth is a given, a birthright—they do not understand that we are in the fight of our lives with countries and nations set on displacing us. Wealth is earned. It is far from being a given. It cannot be taken for granted. The recession reminded us how quickly circumstances can change.” His hope? That the things that made America a giant—”so much entrepreneurialism and vision”—will, in time, fully re-emerge and jolt the country from the doldrums.
The second takeaway of the week has to do with a continued decline in admiration for the American president. Barack Obama‘s reputation among his fellow international players has deflated, his stature almost collapsed. In diplomatic circles, attitudes toward his leadership have been declining for some time, but this week you could hear the disappointment, and something more dangerous: the sense that he is no longer, perhaps, all that relevant. Part of this is due, obviously, to his handling of the Syria crisis. If you draw a line and it is crossed and then you dodge, deflect, disappear and call it diplomacy, the world will notice, and not think better of you. Some of it is connected to the historical moment America is in.
But some of it, surely, is just five years of Mr. Obama. World leaders do not understand what his higher strategic aims are, have doubts about his seriousness and judgment, and read him as unsure and covering up his unsureness with ringing words.
A scorching assessment of the president as foreign-policy actor came from a former senior U.S. diplomat, a low-key and sophisticated man who spent the week at many U.N.-related functions. “World leaders are very negative about Obama,” he said. They are “disappointed, feeling he’s not really in charge. . . . The Western Europeans don’t pay that much attention to him anymore.”
The diplomat was one of more than a dozen U.S. foreign-policy hands who met this week with the new president of Iran, Hasan Rouhani. What did he think of the American president? “He didn’t mention Obama, not once,” said the former envoy, who added: “We have to accept the fact that the president is rather insignificant at the moment, and rely on our diplomats.” John Kerry, he said, is doing a good job.
Had he ever seen an American president treated as if he were so insignificant? “I really never have. It’s unusual.” What does he make of the president’s strategy: “He doesn’t know what to do so he stays out of it [and] hopes for the best.” The diplomat added: “Slim hope.”
This reminded me of a talk a few weeks ago, with another veteran diplomat who often confers with leaders with whom Mr. Obama meets. I had asked: When Obama enters a room with other leaders, is there a sense that America has entered the room? I mentioned de Gaulle—when he was there, France was there. When Reagan came into a room, people stood: America just walked in. Does Mr. Obama bring that kind of mystique?
“No,” he said. “It’s not like that.”
When the president spoke to the General Assembly, his speech was dignified and had, at certain points, a certain sternness of tone. But after a while, as he spoke, it took on the flavor of re-enactment. He had impressed these men and women once. In the cutaways on C-Span, some delegates in attendance seemed distracted, not alert, not sitting as if they were witnessing something important. One delegate seemed to be scrolling down on a BlackBerry, one rifled through notes. Two officials seated behind the president as he spoke seemed engaged in humorous banter. At the end, the applause was polite, appropriate and brief.
The president spoke of Iran and nuclear weapons—”we should be able to achieve a resolution” of the question. “We are encouraged” by signs of a more moderate course. “I am directing John Kerry to pursue this effort.”
But his spokesmen had suggested the possibility of a brief meeting or handshake between Messrs. Obama and Rouhani. When that didn’t happen there was a sense the American president had been snubbed. For all the world to see.
Which, if you are an American, is embarrassing.
While Mr. Rouhani could not meet with the American president, he did make time for journalists, diplomats and businessmen brought together by the Asia Society and the Council on Foreign Relations. Early Thursday evening in a hotel ballroom, Mr. Rouhani spoke about U.S.-Iranian relations.
He appears to be intelligent, smooth, and he said all the right things—”moderation and wisdom” will guide his government, “global challenges require collective responses.” He will likely prove a tough negotiator, perhaps a particularly wily one. He is eloquent when speaking of the “haunted” nature of some of his countrymen’s memories when they consider the past 60 years of U.S.-Iranian relations.
Well, we have that in common.
He seemed to use his eloquence to bring a certain freshness, and therefore force, to perceived grievances. That’s one negotiating tactic. He added that we must “rise above petty politics,” and focus on our nations’ common interests and concerns. He called it “counterproductive” to view Iran as a threat; this charge is whipped up by “alarmists.” He vowed again that Iran will not develop a nuclear bomb, saying this would be “contrary to Islamic norms.”
I wondered, as he spoke, how he sized up our president. In roughly 90 minutes of a speech followed by questions, he didn’t say, and nobody thought to ask him.
Posted in Drone, Eco-socialism, Economic collapse, Economic interventionism, Economic planning, Economic policy, Energy, Energy Economic Zone, Fiat Currency, Fiscal Cliff, Foreign Policy, Fossil Fuels, Fraud & Corruption, GEOPOLITICS, Graphic of the Day, Indefinite Surveillance, Martial Law, Medicare, Modern Monetary Theory, Money Game, National Security, NDAA, NSA, Obamanomics, One and Done, Pay to play, Political economy, Poor, Pork, Progressive "nudge", Progressive Agenda, Robin Hood Tax, Shadow Government, Side Effects, Social Security, Special Reports, Targeting, Tax Payer's Dime, Terrorism, Tyranny, UnAmerican, United States, War's
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Tags: Asia Society, Barack Obama, Iran, John Kerry, Obama, President of Iran, Rouhani, United States, World Stage
While Congress Is Fighting Over ObamaCare, Obama is Planning His Next Attack On America
By Asylum Watch
Barack Obama is not about to be a “Lame Duck” President if he can help it. He promised to bring about the fundamental transformation of America and to force American energy costs to skyrocket. He has done a pretty good job of meeting his goals so far, but he is not done with us yet.
AZ Leader at Inform the Pundits has an excellent post up on how President Obama and his EPA storm troopers plan to force electricity costs in America to skyrocket. In that post, he provides a link to the President’s “Climate Action Plan“ and a link to new EPA regulations proposed on Friday. Let’s take a look.
President Obama’s Climate Action Plan
The preamble is taken from President Obama’s 2013 Inaugural Address (Emphasis added):
“We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires and crippling drought and more powerful storms.
The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition, we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries, we must claim its promise. That’s how we will maintain our economic vitality and our national treasure — our forests and waterways, our croplands and snow-capped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.”
– President Obama, Second Inaugural Address, January 2013
Please note the bits I put in bold. The “overwhelming judgment of science” is a scam. Check out this Inform the Pundit article. And, look at this quote from another Inform the Pundit article:
Claims of increased “extreme weather” events are being disproved by scientists. Not only are U.S. hurricanes in decline, but so are tornadoes, droughts, and floods.
That article is full true information backed up by good sources. But the truth never stopped Barack Obama before and it won’t stop him now. So, let’s see what he and his EPA storm troopers have in store for us. Oh, and that “sustainable energy sources” sounds a lot like Agenda 21, doesn’t it?
- While Congress Is Fighting Over ObamaCare, Obama is Planning His Next Attack On America (conservativesonfire.wordpress.com)
- Opponents ramp up fight against Obama climate plan (boston.com)
- Opponents ramp up fight against Obama climate plan (wfaa.com)
Posted in Agenda 21, Clean Energy, Coal, Eco-socialism, Energy, Financial repression, Fossil Fuels, Fraud & Corruption, Oil, Progressive Agenda, United States, War's
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Tags: Barack Obama, Clean Air Act, Climate Action Plan, EPA, EPA regulations, Obama, scam, United States, United States Environmental Protection Agency
World Bank’s no-coal decree could leave developing nations in the dark, critics say
By Perry Chiaramonte Published July 17, 2013 FoxNews.com
The World Bank has approved a new energy initiative that will severely limit funding of coal-fired power plants and projects around the world, meaning developing countries could be unable to obtain access to cheap electricity.
“It will make a difference. [It will] be more expensive for underdeveloped countries to obtain the cheapest form of electricity,” Milton Catelin, Chief Executive for the World Coal Association, told FoxNews.com. “I think the World Bank has moved away from their original purpose and they have failed with poverty eradication so they are jumping on the climate control bandwagon.
“But for the benefit of society as a whole, they [the World Bank] should be at a balance between eradicating poverty and climate control,” he added.
The World Bank’s board said on Tuesday it was seeking to balance environmental efforts with energy needs in poorer, undeveloped countries and was limiting funding of coal-fired power plants and projects to only “rare circumstances.”
Its “Energy Sector Directions Paper” also said it would increase backing of hydroelectric power, which it had originally abandoned nearly two decades ago.
Officials from the World Bank told FoxNews.com that while they are now operating under the new energy initiative, they would look at energy-related issues on a case-by-case basis.
“We think that there will be a certain amount of countries within the next ten years that will not be able to use another viable source of energy,” said Rachel Kyte, Vice President Sustainable Development for the World Bank. “We don’t want to turn around and say that they will have to wait fifteen years for a new source.
“It’s impossible to improve the economy and meet the needs of the poor without having energy,” Kyte said. You cannot have entrepreneurialism going if you cannot flip on the power. What we firmly believe is that you can’t end poverty without addressing energy.”
She added that the World Bank will make allowances for Greenfield coal power generation on a case-by-case basis. The Greenfield method involves an “end point” for a power plant, when its land is restored to its original condition.
The World Bank has been going in a new direction under current president Jim Yong Kim, the first scientist to head the group, and has taken a more aggressive stance on climate change.
In the past, multilateral organizations have been criticized for urging global action to cut carbon dioxide emissions while funding coal-powered plants at the same time.
The World Bank previously defended itself by saying some of the poorest countries in the world have no other choice and need energy from coal to end poverty.
Now, Catelin said, “The reality is that they listen to the administration in Washington which has taken a negative stance on coal.
“It’s ridiculous to think that the World Bank has anything to do with poverty eradication anymore. They’ve become nothing more than another international body.”
Posted in Agenda 21, Coal, Eco-socialism, Economic planning, Energy, Energy Economic Zone, Rio + 20
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Tags: Developing country, World Bank, World Coal Association
Contributed by Chriss Street.
Broke-ass is an urban slang term for someone who either has no money or is in debt beyond their means. This used to be a term for inner city ghetto dwellers and folks “Living in a Van Down by the River.” But since 2008, 2.2 million net jobs have been lost among the prime American working demographic of 25-54 year olds, even as their numbers grew by over 3 million.
A Google search of “broke-ass” generates 33,900,000 hits. There are broke-ass brides, dads, home, gourmet, bizness, and thousands more. Young people who thought they would scrimp by until they “moved up” in a career, now expect to never have a decent life and are trying to adapt to their new reality. Since 2008, America seems to have failed many Americans.
The United States was founded through a revolution against the colonial tyranny of the richest and most powerful nation on earth. The revolutionaries triumphed because they authentically stood for liberty, egalitarianism, individualism, populism and laissez-faire economics; virtues their British imperial elites sought to deny them. In the 1920s, the American Communist Party in frustration referred to this unique lack of class distinction as “American Exceptionalism” to explain why the mentality of American working class was not ripe enough to rise up and violently overthrow the factory owners.
In the most recent Rasmussen Poll, 63% of employed adults still consider themselves middle class, 21% self-identify as upper middle class, while only just 3% view themselves as wealthy and 8% regard themselves as the working poor. These numbers have remained fairly stable for the last 30 years.
What has not remained stable is the percentage of “employed adults” in America. The labor participation rate, the measure of the number of people working or looking for a job, has declined for each of the last four years from 66% to 63% and now stands at the lowest rate since Jimmy Carter was President in 1979. The decline in this statistic is virtually the mirror image of the historic percentage gains in the labor force participation from 1980 to 1988.
Last month’s decline was extraordinarily brutal as job growth was cut in half to only 88,000, while 496,000 workers gave up looking for work and dropped out of the labor force. Although media reported unemployment figure declined slightly to 7.6%; the total unemployed that includes those who want full time work but can only find part-time employment, stands at a Great Depression level of 13.8%. For those Americans lucky enough to have a job, one in four is working for $10 an hour or less.
According to the U.S. Census Bureau, approximately one out of every six Americans is living in poverty and over 146 million are either “poor” or “low income”. Nearly 20% of all children in the United States currently live in poverty and approximately 57% live in homes that are either considered to be either “low income” or impoverished. More than a third of children in the U.S. live in a home without a father and families that have a head of household under the age of 30 have a poverty rate of 37%. There are over a million public school students in the U.S. that are homeless.
The federal government responded to the broke-ass America crisis by annually increasing deficit spending by $800 billion and increasing taxes by $400 billion. About $100 billion a year is being spent increasing the number of Americans enrolled in at least one federal welfare program to 100 million.
No one is exactly sure where Congress has been “investing” the other $700 billion per year, but accountants tell us that every American’s share of the national debt has risen from $31,847 to $54,140. Maybe over the next four years if jobs keep disappearing and debt keeps rising, we might all be broke-ass Americans living in a van down by the river. Contributed by Chriss Street.
Posted in AMERICAS, Eco-socialism, Economic interventionism, Economic planning, Economic policy, Fraud & Corruption, North America, Progressive "nudge", Progressive Agenda, Tax Payer's Dime, United States
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Tags: Americans, broke-ass, deficit spending, federal government, national debt, United States, Washington D.C.
It’s Not a “Fiscal Cliff” … It’s the Descent Into Lawlessness
by George Washington 12/24/2012
The “fiscal cliff” is a myth.
Instead, what we are facing is a descent into lawlessness.
In many situations, austerity programs are imposed on countries that were previously under dictatorial regimes, leading to criticism that populations are forced to repay the debts of their oppressors.
Indeed, the IMF has already performed a complete audit of the whole US financial system, something which they have only previously done to broke third world nations.
Economist Marc Faber calls the U.S. a “failed state“. Indeed, we no longer have a free market economy … we have fascism, communist style socialism, kleptocracy, oligarchy or banana republic style corruption.
Let’s look at some specific examples of our descent into lawlessness.
Lawless Looting and Redistribution of Wealth
The central banks’ central bank – the Bank for International Settlements– warned in 2008 that bailouts of the big banks would create sovereign debt crises … which could bankrupt nations.
That is exactly what has happened.
The big banks went bust, and so did the debtors. But the government chose to save the big banks instead of the little guy, thus allowing the banks to continue to try to wring every penny of debt out of debtors.
Treasury Secretary Paulson shoved bailouts down Congress’ throat by threatening martial law if the bailouts weren’t passed. And the bailouts are now perpetual.
The bailout money is just going to line the pockets of the wealthy, instead of helping to stabilize the economy or even the companies receiving the bailouts:
- Bailout money is being used to subsidize companies run by horrible business men, allowing the bankers to receive fat bonuses, to redecorate their offices, and to buy gold toilets and prostitutes
- A lot of the bailout money is going to the failing companies’ shareholders
- Indeed, a leading progressive economist says that the true purpose of the bank rescue plans is “a massive redistribution of wealth to the bank shareholders and their top executives”
- The Treasury Department encouraged banks to use the bailout money to buy their competitors, and pushed through an amendment to the tax laws which rewards mergers in the banking industry (this has caused a lot of companies to bite off more than they can chew, destabilizing the acquiring companies)
And as the New York Times notes, “Tens of billions of [bailout] dollars have merely passed through A.I.G. to its derivatives trading partners”.
In other words, through a little game-playing by the Fed, taxpayer money is going straight into the pockets of investors in AIG’s credit default swaps and is not even really stabilizing AIG.
Moreover, a large percentage of the bailouts went to foreign banks (and see this). And so did a huge portion of the money from quantitative easing. Indeed, the Fed bailed out Gaddafi’s Bank of Libya), hedge fund billionaires, and big companies, but turned its back on the little guy.
A study of 124 banking crises by the International Monetary Fund found that propping up banks which are only pretending to be solvent often leads to austerity:
Existing empirical research has shown that providing assistance to banks and their borrowers can be counterproductive, resulting in increased losses to banks, which often abuse forbearance to take unproductive risks at government expense. The typical result of forbearance is a deeper hole in the net worth of banks, crippling tax burdens to finance bank bailouts, and even more severe credit supply contraction and economic decline than would have occurred in the absence of forbearance.
Cross-country analysis to date also shows that accommodative policy measures (such as substantial liquidity support, explicit government guarantee on financial institutions’ liabilities and forbearance from prudential regulations) tend to be fiscally costly and that these particular policies do not necessarily accelerate the speed of economic recovery.
All too often, central banks privilege stability over cost in the heat of the containment phase: if so, they may too liberally extend loans to an illiquid bank which is almost certain to prove insolvent anyway. Also, closure of a nonviable bank is often delayed for too long, even when there are clear signs of insolvency (Lindgren, 2003). Since bank closures face many obstacles, there is a tendency to rely instead on blanket government guarantees which, if the government’s fiscal and political position makes them credible, can work albeit at the cost of placing the burden on the budget, typically squeezing future provision of needed public services.
In other words, the “stimulus” to the banks blows up the budget, “squeezing” public services through austerity.
Numerous top economists say that the bank bailouts are the largest robbery and redistribution of wealth in history.
Why was this illegal? Well, the top white collar fraud expert in the country says that the Bush and Obama administrations broke the law by failing to break up insolvent banks … instead of propping them up by bailing them out.
And the Special Inspector General of the Tarp bailout program said that the Treasury Secretary lied to Congress regarding some fundamental aspects of Tarp – like pretending that the banks were healthy, when they were totally insolvent. The Secretary also falsely told Congress that the bailouts would be used to dispose of toxic assets … but then used the money for something else entirely. Making false statements to a federal official is illegal, pursuant to 18 United States Code Section 1001.
So breaking the rules to bail out the big, insolvent banks, is destroying our prosperity.
Lawless Justice System
A strong rule of law is essential for a prosperous and stable economy, yet the government made it official policy not to prosecute fraud, even though criminal fraud is the main business model adopted by the giant banks.
The perpetrators of the biggest financial crime in world history, the largest insider trading scandal of all time, illegal raiding of customer accounts and blatant financing of drug cartels and terrorists have all gotten away scot-free without any jail time.
There are two systems of justice in America … one for the big banks and other fatcats, and one for everyone else.
While Iceland prosecuted its top criminal bankers, and thus quickly got through its financial problems and now has a vibrant economy, the American government has done everything it can to cover up fraud, and has been actively encouraging criminal fraud and attacking those trying to blow the whistle.
The rule of law is now as weak in the U.S. and UK as many countries which we would consider “rogue nations”. See this, this, this, this, this, this, this, this, this, this and this.
This is a sudden change. As famed Peruvian economist Hernando de Soto notes:
In a few short decades the West undercut 150 years of legal reforms that made the global economy possible.
Moreover, U.S. government personnel are on the take. They have become so corrupt that regulators are literally sleeping with industry prostitutes … while they pimp out the American people.
The corruption of government officials is staggering, and the system of government-sponsored rating agencies had at its core a model of bribery.
We’ve gone from a nation of laws to a nation of powerful men making one-sided laws to protect their own interests … in secret. Government folks are using laws to crush dissent. It’s gotten so bad that even U.S. Supreme Court justices are saying that we are descending into tyranny.
It’s not a “fiscal cliff” … it’s an attempt to rape America … just like Greece and Ireland have been plundered.
Economics professor Randall Wray writes:
Thieves … took over the whole economy and the political system lock, stock, and barrel. They didn’t just blow up finance, they oversaw the swiftest transfer of wealth to the very top the world has ever seen. They screwed workers out of their jobs, they screwed homeowners out of their houses, they screwed retirees out of their pensions, and they screwed municipalities out of their revenues and assets.
Financiers are forcing schools, parks, pools, fire departments, senior citizen centers, and libraries to shut down. They are forcing national governments to auction off their cultural heritage to the highest bidder. Everything must go in firesales at prices rigged by twenty-something traders at the biggest and most corrupt institutions the world has ever known.
Economics professor Michael Hudson agrees … saying that the banks are trying to roll back all modern laws and make us all serfs.
Professor Hudson explained in 2008:
You have to realize that what they’re trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They’re not trying to make the economy more equal, and they’re not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards, it’s the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite.
Foreign Policy magazine ran an article entitled “The Next Big Thing: Neomedievalism“, arguing that the power of nations is declining, and being replaced by corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions.
Indeed, this isn’t the “Great Recession”, it’s the Great Bank Robbery. The big banks have pillaged and looted the rest of the world.
A lawless justice system is ruining the economy.
Lawless Central Bank
The non-partisan Government Accountability Office calls the Fed corrupt and riddled with conflicts of interest. Nobel prize winning economist Joseph Stiglitz agrees, saying that the World Bank would view any country which had a banking structure like the Fed as being corrupt and untrustworthy. The former vice president at the Federal Reserve Bank of Dallas said said he worried that the failure of the government to provide more information about its rescue spending could signal corruption. “Nontransparency in government programs is always associated with corruption in other countries, so I don’t see why it wouldn’t be here,” he said.
Moreover, the Fed has broken the law by withholding information from Congress, letting unemployment rise in order to keep inflation low, and otherwise exceeding its authority under the Federal Reserve Act.
Acting in a lawless and unaccountable fashion is hurting the economy.
Lawless Attack on Democracy
The ability of the people to participate in their government’s decision-making is vital for a nation’s prosperity. But we no longer have democracy or a republican form of government in America.
The big banks own Washington D.C. politicians, lock stock and barrel. See this, this, this and this. Two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City, Moody’s chief economist and many others have all said that the United States is controlled by an “oligarchy” or “oligopoly”, and the big banks and giant financial institutions are key players in that oligarchy.
Laws are being passed in secret, and not even Congress knows what’s going on.
In other words, not only the justice system, but the entire system of American representation has been corrupted, thus harming the economy.
Lawless Infringement of Freedom
Personal freedom and liberty – and freedom from the arbitrary exercise of government power – are strongly correlated with a healthy economy, but America is descending into tyranny.
Authoritarian actions by the government interfere with the free market, and thus harm prosperity.
U.S. News and World Report notes:
The Fraser Institute’s latest Economic Freedom of the World Annual Report is out, and the news is not good for the United States. Ranked among the five freest countries in the world from 1975 through 2002, the United States has since dropped to 18th place.
The Cato institute notes:
The United States has plummeted to 18th place in the ranked list, trailing such countries as Estonia, Taiwan, and Qatar.
Actually, the decline began under President George W. Bush. For 20 years the U.S. had consistently ranked as one of the world’s three freest economies, along with Hong Kong and Singapore. By the end of the Bush presidency, we were barely in the top ten.
And, as with so many disastrous legacies of the Bush era, Barack Obama took a bad thing and made it worse.
But the American government has shredded the constitution, by subjecting us to indefinite detention, taking away our due process rights, deploying drones above our heads, spying on all Americans, and otherwise acting in attacking our freedoms.
Indeed, rights won in 1215 – in the Magna Carta – are being repealed.
Economic historian Niall Ferguson notes, draconian national security laws are one of the main things undermining the rule of law:
We must pose the familiar question about how far our civil liberties have been eroded by the national security state – a process that in fact dates back almost a hundred years to the outbreak of the First World War and the passage of the 1914 Defence of the Realm Act. Recent debates about the protracted detention of terrorist suspects are in no way new. Somehow it’s always a choice between habeas corpus and hundreds of corpses.
Of course, many of this decades’ national security measures have not been taken to keep us safe in the “post-9/11 world” … indeed, many of them started before 9/11.
And America has been in a continuous declared state of national emergency since 9/11, and we are in a literally never-ending state of perpetual war. See this, this, this and this.
In fact, government has blown terrorism fears way out of proportion for political purposes, and “national security” powers have been used in many ways to exempt big Wall Street players from the rule of law rather than to do anything to protect us.
So lawlessness infringement of our liberty is destroying our prosperity.
Lawless Initiation and Prosecution of War
It is well-documented that war destroys the economy.
Top U.S. government employees lied us into war, and used illegal torture, assassinations and other crimes of war in prosecuting the wars they unnecessarily started. They were – at a minimum – criminally negligent for failing to stop 9/11 (and see this).
In the name of fighting our enemies – the U.S. has directly been supporting Al Qaeda and other terrorist groups for the last decade. See this, this, this, this and this.
Our use of torture has also created many more terrorists than it has prevented.
Security experts – including both conservatives and liberals – agree that waging war in the Middle East weakens national security and increases terrorism. See this, this, this, this, this, this, this and this.
Indefinite detention, drone-strikes on innocent civilians, occupation of foreign countries, and most of America’s other tactics in the “war on terror” increase terrorism.
Terrorism feeds the cycle of war … and is thus harming our economy. (and because terrorism spooks people, they spend less, which further harms the economy).
So lawlessness in starting and prosecuting war is destroying our prosperity.
Postscript: We’re not facing a “fiscal cliff”. We’re facing a descent into lawlessness. Stopping the fraudulent schemes, endless bailouts and imperial adventures is the place to start.
- Descent Into Lawlessness (theburningplatform.com)
Posted in Agenda 21, AMERICAS, Black Swan, Cartoon of the Day, Cultural Revolution "FORWARD", Eco-socialism, Economic collapse, Economic planning, Economic policy, Fiat Currency, Fiscal Cliff, Fraud & Corruption, Martial Law, Medicare, NDAA, North America, Obamanomics, Political economy, Pork, Progressive Agenda, Shadow banking, Shadow Government, Social Security, Tax Payer's Dime, Tax Policy, United States
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Tags: Bailout, banana republic, Bank for International Settlements, communist, corruption, Descent, failed state, fascism, Fiscal Cliff, George Washington, International Monetary Fund, kleptocracy, Lawlessness, Marc Faber, NDAA, oligarchy, Redistribution of wealth, Socialism, United States, United States Secretary of the Treasury
After Hegemony: America’s Global Exit Strategy
14 Dec 2012 By Kenneth Weisbrode
What will America look like in a post-American world? The National Intelligence Council, with its just-released Global 2030 forecast, has become the latest voice to join the chorus of those who see U.S. hegemony giving way to a leading but less-dominant position. It is worth considering what the loss of hegemony is likely to mean for America in terms of its trade, influence, reach and voice in international forums. What impact will these and any other consequences have on the way America engages with the world, as well as on its ability to provide the kinds of leadership that make it a hegemon? And how will all this affect the ways Americans live?
Examinations of hegemonic decline have historically focused on the world beyond the imperial center. The barbarian invaders get most of the glory and attention, with the subjects of historical empires who lived in what is called the “metropole,” that is, the imperial center or “homeland,” as understudied as the nature of these places following a hegemonic collapse. In fact, the fate of some more-recent metropoles has been relatively positive over the long run. Austria, Turkey, Britain and even Russia continue to survive as viable countries. Some of them even thrive and may offer useful lessons. Austria, for example, is a small, prosperous, secure and mainly conservative imperial successor state. So is Japan. The question is how Americans will cope with such a changed condition.
A loss of hegemony generally means a loss of access to markets and resources. In the case of the U.S., that would include the loss of global reserve status for the dollar, with implications for trade, government borrowing and interest rates. It will cost Americans more to get what they want, and, at the same time, they will have less to spend. As a result, they will have to do much more to live within their means.
This will make it more difficult to influence or even inspire other societies to follow America’s lead, but it won’t be impossible. Elements of the American character — creativity, pragmatism, adaptability — may continue to serve the country and other nations well, if under different circumstances. Adjusting to those changed circumstances will require a more collaborative and empathetic approach to the way Americans interact with the world.
Speculating about the American future in these circumstances requires a more precise understanding of the effect that global hegemony has already had on the United States and the global system. From the country’s founding to the peak of the industrial era, some Americans went out of their way to abjure the idea and the reality of hegemony, deliberately eschewing international engagement in the name of what was later called exceptionalism. In the 20th century others did the reverse, also in the name of exceptionalism. Now, in the 21st century, Americans seem to be doing both at the same time, while coping with ever more serious challenges at home and abroad.
These challenges will likely be exacerbated by a loss of hegemony. At home, it is likely to be accompanied by a decline in prosperity, with potential implications for domestic civility. The proportion of Americans who now live in poverty, currently at 15 percent, will probably increase. National cohesiveness may deteriorate when Americans realize that the cultural, ideological and economic foundations of national “success” are actually much weaker than they imagined.
Abroad, it will further constrain the effectiveness of America’s military as a tool for advancing American interests. America’s relative decline has already nurtured the increasingly widespread perception that the use of American military power limits American influence over the long term. Whereas hard power underwrote soft power — and sometimes vice versa — during America’s hegemonic rise, during its fall the two appear to be at cross-purposes. This reversal is consistent with much of the history of imperial decline.
How will Americans respond to such a world, in which U.S. influence, already limited, is no longer advanced by its military dominance? And if it is true that, as Henry Kissinger said recently, America will remain powerful but not hegemonic, how do you preserve one while losing the other? Will Americans, and the rest of the world, be content with an Austrian or Japanese future for the U.S.? That is hard to imagine. But the alternatives, perpetual empire and national disintegration, are too awful to contemplate.
If today’s preoccupation with decline is any indication, some Americans are in search of something like a grand global exit strategy. It may be better to imagine instead a post-hegemonic condition that retains some of the fruits of American exceptionalism — namely the exportability of its culture and technology — while multiplying the incentives, both domestic and foreign, against the frequent use of military power and other heavy forms of coercion. Time may be running out to shape these two goals in unison.
It is difficult to say what this will mean in practice. Making the world safe for a hegemonic retreat has always been, to some extent, a fantasy: a pre-emptive concession that is too clever by half. Even America cannot dictate the world’s reaction, least of all that of its adversaries and challengers. There also is no fixed or predictable pattern of retreat. Sometimes imperial states, even hegemons, simply just disappear, leaving only the successor states behind.
Kenneth Weisbrode is a diplomatic historian at the European University Institute and author of “The Atlantic Century” (Da Capo).
Posted in AMERICAS, Cultural Revolution "FORWARD", Eco-socialism, Economic collapse, Economic planning, Economic policy, Energy, Energy Economic Zone, Fiat Currency, Fiscal Cliff, HyperInflation, Modern Monetary Theory, NDAA, North America, Obamanomics, United States
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OBAMA WANTS TO DESTROY AMERICA
OBAMA WANTS TO DESTROY AMERICA! Watch this video and forward the link to your friends who still believe in America. Video content by Free Market America.
- Krauthammer: Obama’s Not Trying to Fix Our Fiscal Problems, He’s Trying to Destroy Republicans (Video) (thegatewaypundit.com)
- Gingrich Attacks House Republicans For Negotiating With President Obama (alan.com)
- Pravda: Illiterate society reelected Obama (dprogram.net)
- Obama’s Objective is Transforming an Unjust America, Not Economic Growth or Averting a Recession (rushlimbaugh.com)
- Warning: Barack Obama may be intentionally destroying our economy (conservativeread.com)
Posted in Agenda 21, AMERICAS, Drone, Eco-socialism, Economic collapse, Economic interventionism, Economic planning, Economic policy, Energy, Energy Economic Zone, Fiscal Cliff, Foreign Policy, Fossil Fuels, Fraud & Corruption, Martial Law, Medicare, NDAA, North America, Obamanomics, Poor, Progressive "nudge", Progressive Agenda, Shadow banking, Shadow Government, Social Security, UnAmerican, United States
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