Rather than expanding the money supply, quantitative easing (QE) has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. The “failure” of QE has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, but the sort of QE that could fulfill that mandate has not yet been tried.
Edward Snowden’s revelations have illuminated the most critical political issue facing America today: how an authoritarian U.S. Executive Branch which has focused on war abroad for the last 50 years now devotes increasing resources to surveillance, information management, and population control at home, posing a far greater threat to Americans’ liberties than any conceivable foreign foe.
Climate change along with the disastrous effects it will have on the earth and humanity is being ignored by much of society. I differentiate between the earth and humanity because many people only relate to the problems that humans might suffer, not fully understanding that what damages the earth also damages us. During the 1992 UN Earth Summit in Rio, media headlines were screaming “We’ve only got 20 years to save the earth!” An environmentalist dryly pointed out, “No. The earth will survive. We have 20 years to save humanity.”
This July, Bank of America was expecting to report an earnings increase of 32% from last year. The Washington Business Journal declared the bank among the top 10 “most improved brands” of the year. Bank of America is the second-largest bank in the United States following JPMorgan Chase.
So why does this bank deserve such an “improved” reputation? Perhaps it’s worth looking at a little of the bank’s record for some clarity.
One of America’s genuine heroes, Major General Smedley D Butler revealed in his memoirs the true, abhorrent nature of Washington’s foreign policy. Butler had led countless military operations in Central America and the Caribbean as a US Marines Corp commander in the era of “gunboat diplomacy” during the early 1900s. Years after his retirement, he spoke out candidly and ruefully of his highly decorated military service in a book entitled War is a Racket. Here is how Butler characterized with unsparing words his service for country in 1935, five years before his death:
TheRealNews on Jul 22, 2013
On Reality Asserts Itself with Paul Jay, Chris Hedges says The Democratic Party used to watch out for the interests of labor and even for the poor. But that all changed under Bill Clinton. Although Obama, like Clinton, continues to speak in that feel-your-pain language of traditional liberalism, they’ve completely betrayed the very people that they purport to represent and defend. Continue reading
Noel Lyons, a member of the U.S. Ski Team from 1976 to 1981 and once one of the country’s top professional skiers, found herself in a Vail, Colo., hospital in the spring of 2010 after another round of binge drinking. “I had given up on myself,” she would say later. Her boyfriend and sister decided she needed rehabilitative help. Because their resources were limited, they turned to the free Total Freedom Program, a Florida ministry for women and men that identifies itself as Christian.
CapitalWatch on Jul 20, 2013
Here’s what’s in your Prime Interest today:
Insolvent! That would be Detroit, which gave us the Supremes and the vehicles that fueled our happy motoring paradise for decades. Unfortunately, after years of decline, the Motor City finally filed for bankruptcy protection yesterday — a move that was not entirely unexpected. That’s right — $18 billion in liabilities is at stake — a record for the US. Is this the first domino that might just validate Meredity Whitney’s 2011 prediction of a wave of muni defaults? Continue reading
Not only are the US, Britain and France losing their criminal covert military war for regime change in Syria, these state terrorists are also caving in on the propaganda front.
Such a criminal conspiracy was bound to fail sooner or later. Now, its weight of falsehoods and lies are imploding. The arrival of the UN chemical weapons inspection team this week in Damascus marks another hammer blow against Western malicious designs on Syria.
Little Sajida Faisal had only just come into this world. But five days after her birth, she was dead, killed by suffocation from tear gas. She died on 11 December, a Sunday, in 2011 in her family home in the Bahraini village of Belad al-Qadeem.
Her father later told how Bahraini riot police had been firing tear gas into the streets for several days without stop. The whole village was under a toxic cloud of chemical gas, and with military checkpoints everywhere, the residents of Belad al-Qadeem were effectively held hostage, forced to breathe in the deadly fumes.
TheRealNews on Jul 19, 2013
On Reality Asserts Itself, Paul Jay asks Chris Hedges if the American Left bears responsibility for the weakness of the mass movement; Hedges says the gravest mistake of the left is not articulating a viable vision of socialism. Continue reading
It’s evil, lawless and authoritarian. And as NSA leaker Snowden has shown us, its aims are to be all-powerful.
Many have expressed surprise that under President Obama – a former Constitutional Law Senior Lecturer who promised transparency, protection for whisteblowers and respect for international law when running for office – U.S. Executive Branch agencies have: Continue reading
The U.S. Court of Appeals for the 2nd Circuit has dealt a terrible blow to Chris Hedges, Daniel Ellsberg, Noam Chomsky and the other activists and journalists suing to prevent the indefinite military detention of American citizens.