Wall Street did not let the Lehman Brothers crisis go to waste. The banks that have paid the largest fines for financial fraud are now much bigger and more profitable. The victims of their junk mortgage loans are poorer, and the economy is facing debt deflation.
Peter Phillips, professor of Political Sociology at Sonoma State University and media researcher for Project Censored and Media Freedom Foundation, presented a summary of his groundbreaking new book Giants: The Global Power Elite last week at Fordham University’s campus in Manhattan. This was an information-packed session that explained the unique purpose of this new book: exposing to public view the private workings of the influential investment partnerships, global councils, think tanks, consortiums and other non-governmental organizations that translate the agenda of the wealthy one-percent into policy plans and proposals that the most powerful governments in the world can act on.
Why does the US media have an anti-Russian fixation? It’s not what the American people want to hear. 71% of the Ronald Reagan-loving, military-obsessed Republican Party approve of Trump meeting with Putin. On the other side, top liberal CNN commentator and former President Obama’s adviser, Van Jones has admitted in a video recording that the “Russiagate” story is a “big nothing burger” which Democrats are not interested in. The Russia-fixated, Hillary Clinton-DNC liberal establishment now faces an upsurge of opposition from Democratic Socialists like Alexandria Ocasio-Cortez and Bernie Sanders, who emphasize the need for populist economics reforms.
“I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism.” — Smedley D. Butler, War is a Racket, Round Table Press (1935)
In this episode of the Keiser Report, Max and Stacy discuss 100 years of humiliation and unintentional self-parody as one empire goes and another, perhaps, rises again. In the second half, Max interviews Dr. Michael Hudson of michael-hudson.com to discuss the Democratic party in an era of dodgy pee-pee dossiers and no economic policies.
One of the first times I used the phrase “institutional insanity” was in 1973 to describe the behavior of scientist Dixy Lee Ray, chairperson of the presumed regulatory agency, the Atomic Energy Commission (AEC). I pointed out that her personal and academic roles were quite normal. But her running of the AEC—pressing for 1,000 nuclear plants in the U.S. by the year 2000 (there are 99 reactors left in operation now), and going easy on a deadly, taxpayer subsidized technology that was privately uninsurable, lacked a place to put its lethal radioactive wastes, a national security risk, replete with vast cost over-runs, immunities and impunities shielding culpable officials and executives, should a meltdown occur and take out a city or region (all to boil water to produce steam to make electricity)—was a case study in “institutional insanity.”
A recurrent problem with some who read Left essays on U.S. politics is that a writer of such essays can’t criticize a Republican policymaker or politician without some “radical” reader sending that writer a snotty lecture on the writer’s supposed failure to understand that Barack Obama, the Clintons, Nancy Pelosi, and rest of the top Democrats are terrible too.
Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary to counteract inflation and shows that the Fed is operating from the wrong model.
It’s Time for the Clintons, Rubin to Go – and Soros, too.
In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered since 2008.
At first glance, Hillary Clinton’s speeches to Goldman Sachs, which she refused to show us but WikiLeaks claims to have now produced the texts of, reveal less blatant hypocrisy or abuse than do the texts of various emails also recently revealed. But take a closer look.
There is a growing asymmetry between the media’s mounting demands for Donald Trump to release his tax returns (Hillary has done so) and their diminishing demands that Hillary Clinton release the secret transcripts of her $5000 per minute speeches before closed-door banking conferences and other business conventions.