Keynote Paper delivered at the 14th Forum of the World Association for Political Economy, July 21, 2019.
Today’s world is at war on many fronts. The rules of international law and order put in place toward the end of World War II are being broken by U.S. foreign policy escalating its confrontation with countries that refrain from giving its companies control of their economic surpluses. Countries that do not give the United States control of their oil and financial sectors or privatize their key sectors are being isolated by a United States imposing trade sanctions and unilateral tariffs giving special advantages to U.S. producers in violation of free trade agreements with European, Asian and other countries.
Trump’s series of threats this week was a one-two punch. First, he threatened to impose national security tariffs on steel and aluminum, primarily against Canada and Mexico (along with Korea and Japan). Then, he suggested an alternative: He would exempt these countries IF they agree to certain U.S. demands.
https://democracynow.org – “Trade wars are good, and easy to win.” That’s the message President Trump tweeted on Friday, sending shockwaves across the globe and sparking fear of impending economic volatility. On Thursday, world stock markets tumbled after Trump announced he plans to impose new tariffs on imports of foreign steel and aluminum.
On this week’s episode of On Contact, Chris Hedges discusses the geopolitical consequences of global change with Professor Christian Parenti, author of Tropic of Chaos: Climate Change and the New Geography of Violence. RT Correspondent Anya Parampil explores how climate change is increasing tensions between the global north and the global south.
Corporate control on both sides of the Atlantic will be solidified should the Transatlantic Trade and Investment Partnership be passed. Any doubt about that was removed when Greenpeace Netherlands released 13 chapters of the TTIP text, although the secrecy of the text and that only corporate representatives have regular access to negotiators had already made intentions clear.
The Trans-Pacific Partnership (TPP) – a global corporate noose around U.S. local, state, and national sovereignty – narrowly passed a major procedural hurdle in the Congress by gaining “fast track” status. This term “fast track” is a euphemism for your members of Congress – senators and representatives – handcuffing themselves, so as to prevent any amendments or adequate debate before the final vote on the Trans-Pacific Partnership – another euphemism that is used to avoid the word “treaty,” which would require ratification by two-thirds of the Senate. This anti-democratic process is being pushed by “King Obama” and his royal court.
The ruling dogma of our political economy is corporatism. Corporatism claims to draw legitimacy from the free market theory that all vendors who do not meet market demands will go under. Corporatism uses this illusion to exert power over all aspects of our political economy. Continue reading →
The Trans-Pacific Partnership (TPP): A Back-room Deal for the 1%, NAFTA on Steroids, Corporate world takeover replacing national sovereignty being negotiated in secret by the Obama administration who is seeking Fast Track passage in Congress to prevent open discussion of what a disaster it will mean for the 99%!!!
Speakers: Arthur Stamoulis, Executive Director, Citizens’ Trade Campaign; Celeste Drake, AFL-CIO Trade and Globalization Specialist; and Kian Frederick, New York State Director of Citizens Trade Campaign. Morning breakfast forum at the Murphy labor institute October 25, 2013. Camera, edit: Joe Friendly
After being delayed by the U.S. government shutdown, talks for a Transatlantic Trade and Investment Partnership (TTIP) are quietly gearing up again. Tariff barriers between the U.S. and EU are already low, so these negotiations are focused squarely on achieving “regulatory coherence.” Continue reading →
“The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.” —Prof. Caroll Quigley, Georgetown University, Tragedy and Hope (1966)
The widening circle applauding megamillionaire Larry Summers –of Harvard University, Washington, D.C. and Wall Street – agrees on one word to describe the colossal failure – Brilliant! That circle includes Barack Obama, who appointed Summers in 2009 to be his chief economic advisor, Bill Clinton, who made him Secretary of the Treasury, and the Harvard Board of Overseers, who named him president of Harvard University in 2001.
Mitt Romney’s daily dittohead assertions make one wonder what he got out of the law and business degrees he received from Harvard University. One of his regular blasts blames Barack Obama for the daily reports of bad economic indicators. Unemployment increases – blame Obama. Retail sales decline – blame Obama. Profits not rising – blame Obama. Housing crisis continues– blame Obama.
“Every five seconds, a child under 10 dies of hunger. – Thirty-five million people die each year from hunger or its immediate aftermath. – One billion people are permanently and severely malnourished and the situation is becoming increasingly catastrophic.” (Jean Ziegler)
In his latest book Mass Destruction – the Geopolitics of Hunger, Jean Ziegler talks about the current state of the world and the neoliberal politics of starvation of the poor, which has led to a crisis situation amounting to calculated murder. What we are witnessing today is the worst hunger crisis in human history is. And it is all because of human greed, colossal mismanagement for profit.
“Here, look at this handsome L.L. Bean catalog and tell me what you want for Christmas,” said a relative over Thanksgiving weekend. I started leafing through the 88 page cornucopia with hundreds of clothing and household products, garnished by free gift cards and guaranteed free shipping. I wasn’t perusing it for any suggested gifts; instead, I was going through every offering to see whether they were made in the U.S.A. or in other countries.
The victims are the poor, the former subsistence farmers in Africa who have been deprived of their land and whose countries now have to import food at exorbitant prices, due to the speculation in agricultural commodities resulting in the skyrocketing food prices today. Continue reading →