August 31, 2009
Professor Igor Panarin, whose book The Crash of America is just out, claims that by November the book will be yesterdays news.
The Wall Street Journal reported yesterday on the government’s latest improvisation for propping up the banking system, called “loss-sharing”. Essentially, what it boils down to is that the FDIC encourages healthy banks to acquire failing banks by guaranteeing that it will cover 80% of any losses arising from the acquisitions. The Journal and others have correctly observed that this amounts to a taxpayer-funded giveaway to the acquiring banks. While it is certainly true that loss-sharing is yet another federal giveaway to banks, I believe that focusing on this part of the picture overlooks the most important aspect of the program.
Is there a headline more menacing to liberals, moderates, consumers, small-business owners or free-marketeers than “Banks ‘Too Big To Fail’ Have Grown Even Bigger, Three Banks Issue Half the Mortgages & 2/3s of Credit Cards – Behemoths Born of the Bailout Reduce Consumer Choice”? Shouldn’t any jumbo, “too big to fail” money center be deemed a peril to western civilization, let alone fair competition?
Is our government, that watchdog against illegal monopolies, stuffing behemoths, like fattened geese, concentrating capital beyond dreams of avarice? Oligarchy, cousin to plutocracy, here we come, except now it’s the historic guardians feeding new Trusts, evoking infamous, lawless consolidations that allowed predatory Robber Barons to command markets. With fewer hands on the money spigot, we desperately need another Teddy Roosevelt the Trustbuster. Don’t hold your breath, not with Obama the Wary in charge.
“If George Bush was/is a war criminal; then Obama is a war criminal. If Obama is not, then Bush is not. We the people cannot have it both ways.” — Cindy Sheehan, Martha’s Vineyard
I resigned as the “Face” of the anti-war movement a couple of years ago when I was attacked for trying to hold Democrats to the same standards as I held Republicans. Democrats are obviously not the “Peace Party” and now I think it has been proven that Obama is not a “Peace President.” Continue reading
Updated: Sept 3, 2009
Sept. 1, 2009
As Pentagon Cancels Rendon Group Contract, US-NATO Spokesman in Afghanistan Defends Using Company to Profile Journalists
The Pentagon is canceling its contract with the private public relations firm The Rendon Group to produce background profiles of journalists seeking to cover the war. One journalist profiled was Nir Rosen, who got a hold of his profile. The Rendon Group reported to the Pentagon that Rosen’s reporting in Afghanistan was “highly unfavorable to international efforts.” The Rendon Group profile also mentioned Rosen’s appearance on Democracy Now!, when he stated his belief that the war is unwinnable and that the US should withdraw. We speak with Col. Wayne Shanks, the public affairs officer for US and NATO forces in Afghanistan.
Col. Wayne Shanks, public affairs officer for US and NATO forces in Afghanistan.
Nir Rosen, independent journalist who has covered the wars in Afghanistan and Iraq since 2003. He is a fellow at the NYU Center on Law and Security. In July, he was embedded with the US military in Afghanistan.
Event Date: 09/01/2009
Length: 52 minutes
Location: The Heritage Foundation, Washington, DC, United States
I often wonder how Karl Marx would react were he to find himself here, right now? After all, he too lived through momentous and world-changing times, perhaps even more so than the changes we are experiencing, given that his was the world that gave birth to the rise of the Machine and capitalism as we know it. Born on the cusp so-to-speak and I too, was born on the cusp, 23 July, 1945, a couple of weeks before the empire showed the world that it was truly barbarian when it dropped atomic bombs on Hiroshima and Nagasaki.
I also caught the tail-end of 20th century socialist culture, warts an’ all. But I did more than just catch the tail-end, I inherited the culture of the two generations of lefties that preceded mine, one that stretched from here in the UK to the edge of the Black Sea. Worker intellectuals are a unique product of the Industrial Revolution, my father was one of them. Self-taught, multi-skilled (and talented), his father started out working for some lordship or other as a plantsman, growing orchids I think; moved to the city where he managed a Cross & Blackwell warehouse. He was a socialist by nature, a believer in ‘natural justice’ and he communicated it to all of his eight kids.