Stop Drinking The Kool-Aid, America: Political Fiction In An Age Of Televised Lies – 07.27.16

  • “We’ve got to face it. Politics have entered a new stage, the television stage. Instead of long-winded public debates, the people want capsule slogans—‘Time for a change’—‘The mess in Washington’—‘More bang for a buck’—punch lines and glamour.”— A Face in the Crowd (1957)
    Politics is entertainment.
  • It is a heavily scripted, tightly choreographed, star-studded, ratings-driven, mass-marketed, costly exercise in how to sell a product—in this case, a presidential candidate—to dazzled consumers who will choose image over substance almost every time.
  • This year’s presidential election, much like every other election in recent years, is what historian Daniel Boorstin referred to as a “pseudo-event”: manufactured, contrived, confected and devoid of any intrinsic value save the value of being advertised. It is the end result of a culture that is moving away from substance toward sensationalism in an era of mass media.
  • As author Noam Chomsky rightly observed, “It is important to bear in mind that political campaigns are designed by the same people who sell toothpaste and cars.” In other words, we’re being sold a carefully crafted product by a monied elite who are masters in the art of making the public believe that they need exactly what is being sold to them, whether it’s the latest high-tech gadget, the hottest toy, or the most charismatic politician.

Read more at:Stop Drinking The Kool-Aid, America: Political Fiction In An Age Of Televised Lies


“30 Seconds To Midnight” – 07.26.16

  • Former US Secretary of Defense William Perry warns that the world is on the knife edge of nuclear catastrophe. Such catastrophe can result accidentally from electronic failures or glitches in warning systems and from the recklessly aggressive and unnecessary force buildup against Russia. Conn Hallinan discusses these issues.
  • I doubt Hallinan is correct about Washington’s military predominance. This is Washington’s view, and this view makes Washington confident that it holds the aces. It is a mistake for Hallinan to encourage Washington in this view. Nevertheless, Hallinan makes it clear that we could all be vaporized at any minute. This extremely high risk has been created entirely by the Clinton, George W. Bush, and Obama regimes in which zionist neoconservatives have controlled foreign and military policies.
  • It is tiresome to hear the argument that nuclear war won’t happen because it makes no sense. William Perry points out that the failure of a 49-cent computer chip resulted in NORAD’s computers signaling that the Soviets had launched 220 nuclear missiles at the United States. Just think about all the failures and glitches in our own personal computers, even the best ones.
  • Human miscalculation is also an enormous risk. Miscalculation is a dominant human trait. Consider that 50 percent of Americans’ choices of marriage partner are miscalculations as established by the divorce rate.

Read more at;“30 Seconds To Midnight”


How Do We Make America Strong Again? Start Telling The Truth – 07.25.16

  • You want to make America strong again? The only way to do so is to start telling the truth and insisting on the truth.
  • “Making America Strong Again” is a potent political narrative. But what does “being strong” mean? For some, it’s a code-phrase for bullying–forcing other nations to do our bidding.
  • For others, it describes a re-emergence of widespread domestic economic vitality.
  • Another audience sees the rebuilding of a social contract and social cohesion as the essence of strength.
  • As laudable as some of these interpretations of strength might be, to me “being strong” boils down to one principle, and only one principle: tell the truth, however painful and unwelcome as it might be. The essence of weakness is the cowardice of avoiding the truth. We as a nation have grown accustomed to the cowardice of half-truths, half-confessions, half-apologies and a financial system that rewards fraud in all its variations of artifice, deception and lies.
  • What’s presented as “fact” is actually a spectrum of manipulation and lies. Does anyone with a basic grasp of the economy really believe unemployment is 5% or less? Does anyone seeking the truth believe that a person working one hour a week is equivalent to someone working 40 hours a week? Isn’t counting both of these positions as equally statistically important jobs a form of not telling the truth?

Read more at:How Do We Make America Strong Again? Start Telling The Truth


“Policymakers Have Been Calling A ‘Depression’ A ‘Recovery’ For Nearly A Decade”-07.24.16

  • Some people have impeccable timing. Even if by accident, there are occasions when what they say or write comes out in almost perfect sequence. At the end of August 2014, UC Berkeley economist J. Bradford DeLong wrote an article for Project Syndicate that argued in favor of proper categorization. The lack of recovery was so drastic that the economist community and indeed the world at large needed to come to terms with what was actually taking place; and that was not anything like what was being described especially at that time.
  • To have such a Keynesian of prominence make such an indictment like that may seem somewhat surprising, as it has been they who have most objected to classifying this economy as anything but robust. Some of it is surely political, or at least loyalty to the good standing monetarist/Keynesians (neo-Keynesian, saltwater-ists, or whatever they call themselves these days) at the Federal Reserve, where no economist shall direct any disparaging comments toward the palace. But to DeLong, the issue had never been about recession at all:

Read more at:“Policymakers Have Been Calling A ‘Depression’ A ‘Recovery’ For Nearly A Decade”


America Needs A Good, Old-Fashioned Economic Depression – 07.23.16

  • Artificial measures to stave off a downturn will only make it much worse.
  • Describing what he called the “crack-up boom”, Ludwig von Mises, the great Austrian economist, said:
  • The boom cannot continue indefinitely. There are two alternatives. Either the banks continue the credit expansion without restriction and thus cause constantly mounting price increases and an ever-growing orgy of speculation – which, as in all other cases of unlimited inflation, ends in a “crack-up boom” and in a collapse of the money and credit system.
  • Or the banks stop before this point is reached, voluntarily renounce further credit expansion, and thus bring about the crisis. The depression follows in both instances. (emphasis added)
    Although it would be the wiser policy, there is no evidence that the world’s central bankers have the wisdom, either individually or collectively, to select the second alternative. More specifically, they lack “the courage to act” (as Ben Bernanke’s recent, self-congratulatory memoir was so ironically titled); they and their political, big finance and big business cronies are afraid to swallow the “d-pill”, the economic medicine named “depression”.
  • A good, old-fashioned, pre-1929 depression (like the short-lived, eleven-month depression in 1920-1921, before the days of “modern” central banking and “enlightened” Keynesian intervention “cures”) is the only tonic that can clear out the malinvestment built up since the beginning of the fiat money era.

Read more at:America Needs A Good, Old-Fashioned Economic Depression


End Of An Era: The Rise And Fall Of The Petrodollar System – 07.22.16

  • The Transition
 “The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better.”

Ron Paul

  • A new oil pipeline is built in the Saudi desert… this one is apparently destined for the Ghawar oil field, one of the oldest fields in Saudi Arabia and still the largest in the world
  • The intricate relationship between energy markets and our global financial system, can be traced back to the emergence of the petrodollar system in the 1970s, which was mainly driven by the rise of the United States as an economic and political superpower.
  • For almost twenty years, the U.S. was the world’s only exporter of petroleum. Its relative energy independence helped support its economy and its currency. Until around 1970, the U.S. enjoyed a positive trade balance.
  • Oil expert and author of the book “The Trace of Oil”, Bertram Brökelmann, explains a dramatic change took place in the U.S. economy, as it experienced several transitions: First, it transitioned from being an oil exporter to an oil importer, then a goods importer and finally a money importer. This disastrous downward spiral began gradually, but it ultimately affected the global economy.
  • A petrodollar is defined as a US dollar that is received by an oil producing country in exchange for selling oil. As is shown in the chart below, the gap between US oil consumption and production began to expand in the late 1960s, making the U.S. dependent on oil imports.

Read more at:End Of An Era: The Rise And Fall Of The Petrodollar System


Multiple Casualties Reported After “Shooting Rampage” Terrorist Attack In Munich, Shooters On The Loose – 07.22.16

  • What is known so far:
  • Shots have been fired at the Olympia shopping mall in Munich, Germany.  Multiple casualties and injuries have been reported, with Bavarian broadcasters reporting 6 dead and many injured.
  • According to a statement by the Munich police on its facebook page, witnesses report three different people
    with firearms. The number of victims is currently unconfirmed.
  • No perpetrators have been arrested and the search for them continues.  Officers ask everyone in the urban area of Munich to stay indoors.
  • Reuters add that the local police believes it is dealing with a “shooting rampage” following unconfirmed reports of a second shooter
  • Public transportation services have been halted on multiple train, tram and bus lines after the shooting. The main train station in Munich is currently being evacuated.

Read more at:Multiple Casualties Reported After “Shooting Rampage” Terrorist Attack In Munich, Shooters On The Loose