Last week, England’s new government said it would abandon the previous government’s stimulus program and introduce the austerity measures required to pay down its estimated $1 trillion in debts. That means cutting public spending, laying off workers, reducing consumption, and increasing unemployment and bankruptcies. It also means shrinking the money supply, since virtually all “money” today originates as loans or debt. Reducing the outstanding debt will reduce the amount of money available to pay workers and buy goods, precipitating depression and further economic pain.
June 17, 2010 — On this edition of the Keiser Report, Max and co-host Stacy Herbert look at the latest scandals of filling black holes of debt with austerity plans and imperial plans. In the second half of the show, Max talks to Cedric de Serigny of the School of Economic Warfare in Paris about rating agencies and financial terrorism.
Economic crisis in Europe created by predatory lending; European Central Bank stranglehold on the Eurozone; the Euro; foreign banks decimate Greece’s social structure; Marx’s industrial capital versus fictitious capital; Latvia as a model for the rest of Europe; Hudson’s financial and fiscal plan for Latvia; the Cold War and its ruinous effect on progressive economic thought.
Myth #1 – Jews and Arabs have always been in conflict in the region.
Although Arabs were a majority in Palestine prior to the creation of the state of Israel, there had always been a Jewish population, as well. For the most part, Jewish Palestinians got along with their Arab neighbors. This began to change with the onset of the Zionist movement, because the Zionists rejected the right of the Palestinians to self-determination and wanted Palestine for their own, to create a “Jewish State” in a region where Arabs were the majority and owned most of the land.
We bring you a debate between Noam Chomsky and Alan Dershowtiz on the question, “Israel and Palestine After Disengagement: Where Do We Go From Here?” Dershowitz argued for a political solution based on an Israeli withdrawal from Palestinian towns and a mobile security fence to protect Israel’s borders, while Chomsky insisted that the main obstacle to peace in the region is U.S.-Israeli insistence on maintaining settlements and rejecting minimal Palestinian rights. They faced off at Harvard’s Kennedy School of Government last month. Continue reading →