America Can't Solve Crises Because It's a Company-Owned Town















by BAR executive editor Glen Ford

The Great Gusher in the Gulf is a political, not simply an economic and environmental, crisis. “No amount of public disgust at BP has moved Obama to behave as if he is beholden to the majority that elected him – for the simple reason that he is not.”


America Can't Solve Crises Because It's a Company-Owned Town

by BAR executive editor Glen Ford

The overlapping American mega-crises of Katrina, the Crash of 2008, the Great Gusher in the Gulf are 'both the products and the illuminators of the wholly corrupt relationship' between Capital and government.”

The United States can no longer engage effectively in “nation-building” in the one place on Earth it has a right and duty to do so: at home. These are the lessons of the 2010 Gulf oil catastrophe, the 2008 financial meltdown and the 2005 Katrina horror – disasters that history will rightfully conflate as symptomatic of the fundamental crisis of the rule of Capital. The U.S. has become a company town of speculative and extraction enterprises whose social and physical geography the rulers relentlessly appropriate, monetize and despoil - all with obscene abandon.

At the core of the100 or so activists that gathered in New Orleans for an Emergency Summit to Stop the Gulf Oil Catastrophe, last weekend, were veterans of the ravages of Disaster Capitalism following Hurricane Katrina. They had seen up close how Capital and its servants at all levels of government organized themselves as a public-private mob to drive Black and poor people from the city. They were witnesses to the crafting of a corporate consensus that the exiled poor should have no rights that conflicted with the imperatives of Capital – no right to return, no right to reclaim their lives, no rights that cannot be superseded by the claims and ambitions of the oligarchs. They had watched as finance Capital’s urban gentrification agenda was near-instantaneously put on fast-forward in New Orleans to ensure the permanent purging of the poor. A kind of perverse anthem seemed to rise from each corporate celebration of the city’s imminent and profitable rebirth: “Free the land – of Black people!”

The U.S. has become a company town of speculative and extraction enterprises whose social and physical geography the rulers relentlessly appropriate, monetize and despoil.”

Now the land and bayous and sea are made hostile to all life by the depraved indifference of voracious extractors who monetized, securitized and derivitized the Gulf’s most deeply buried oil deposits years before the accursed Deepwater Horizon rig made its last, fatal thrust. The super-deep reservoirs of the Gulf were sold and their oil futures already leveraged to finance yet more assaults on man and nature, even before President Obama’s flip-flop on off-shore drilling in August, 2008, when he had the Democratic nomination in the bag.

Such world-shaping dealings have nothing to do with you and me, nothing to do with notions of democracy, because democracy does not exist in the United States, where finance capital and its extracting, hoarding, manipulating energy cousin, rule. There is no evidence of democracy anywhere that counts – not in the $14-plus trillion transferred directly to Wall Street, mostly by the quasi-public Federal Reserve, while the real economy in general and Black America in particular were stripped and gutted. No notions of an American social compact could deter the ruling class from acting out its pathologies on its own citizens when Katrina presented the opportunity. And no amount of public disgust at BP has moved Obama to behave as if he is beholden to the majority that elected him – for the simple reason that he is not.

Every element of the American political process is firmly in the hands of the oligarchy. The public only became aware of Barack Obama’s existence after he had been thoroughly vetted by corporate mechanisms of all kinds, including but by no means limited to the corporatist Democratic Leadership Council (see Bruce Dixon, Black Commentator, June 5, 2003). Obama’s informal – but quite binding – “contracts” with the oligarchs were concluded before he set foot in the U.S. Senate. The public was the last to know that the obscure politician Obama had become a “viable” prospect by corporate acclimation in the only “race” that counts – the early, business fund-raising contest. (The corporate consensus included BP, which gave Obama more money than any other candidate, and Wall Street, which was even more generous to the Nation’s First Black President.)

Finance capital and its extracting, hoarding, manipulating energy cousin, rule.”

The U.S. government is divorced from the people because it is a creature of Capital. The three recent mega-crises are both the products and the illuminators of that wholly corrupt relationship. It is, therefore, quite logical that the activists of the Emergency Summit to Stop the Gulf Oil Catastrophe appear to direct their demands to both BP and Obama:

1) Stop oil drilling in the Gulf of Mexico. Full compensation, retraining and new employment, including public works, for all affected,

2) The government and entire oil industry must allocate all necessary resources to stop and clean up the spill, prevent oil from hitting shore, protect wildlife, treat injured wildlife, and repair all devastation. Full support, including by compensation, must be given to peoples’ efforts on all these fronts and to save the Gulf.

3) No punishment to those taking independent initiative; no gag orders on people hired, contracted, or who volunteer; those responsible for this crime against the environment and the people should be prosecuted.

4) Full mobilization of scientists and engineers. Release scientific and technical data to the public; no more lying and covering up. Immediately end use of dispersants; full, open scientific evaluation of nature and impact of dispersants. Fund all necessary scientific and medical research.

5) Full compensation for all losing livelihood and income from the disaster.

6) Provide necessary medical services to those suffering health effects of the spill. Protect the health of and provide necessary equipment for everyone involved in clean up operations. Full disclosure of medical and scientific studies about the effects of the oil disaster.

No Nation-Building, Here

We are living in the late stages of overwhelming dominance (hegemony) of finance capital – and, secondarily, the oil and gas money-machines. It is a period characterized by destruction of the domestic manufacturing base and frenzied predation of the public sector. The mission of Capital’s servants in government is, therefore, to assist Wall Street and the energy sector in the fastest possible conversion of natural and social resources to private exploitation.

Those among the public and media that still harbor the illusion that government is there to serve the people, despite seeing so much evidence to the contrary, speak of a national “malaise,” a loss of purpose, a temporary failure or flaw in the national character. What nonsense! What we are witnessing is the destructive behavior of a predatory class that sees its future in trillion-dollar derivative bets; commodification of every conceivable resource (food, water, air?) and manipulation of every commodity market; privatization of every possible state function (schools, safety nets); constant expansion of the “market” in the maintenance of empire; and the “primitive accumulation” of the spoils of war.

What we are witnessing is the destructive behavior of a predatory class.”

For such a class, there is no room, rhyme or reason for anything resembling domestic nation-building, and they will not assign their servants in government to any such project. Worse than simply being on their own, the people face the same oligarchic enemy at the commanding heights of both the public and private sectors: the Democrat and the banks, the Republican and Big Oil, and vice versa – and all of them aligned with the military complex.

The pace of disaster-making is quickening in America, which indicates something very much like “the end is near.”

Maybe these overlapping pyrotechnics of horror – Katrina, the Crash of 2008, the Great Gusher in the Gulf – are necessary to teach Americans the nature of class war, that it is, indeed, hell. At any rate, the oligarchs can be counted on to accelerate the processes of their own demise. It is up to the people to save themselves, through organizing; there are no guarantees.

BAR executive editor Glen Ford can be contacted at [email protected].


The Goose has already been cooked

If was bad enough watching Obummer morph into BP's spokesperson over night, but when a United States Congressman goes on national t.v. and unabashedly criticizes the government for making BP (half-assed) accountable, it's a definite sign of the apocalypse. Perhaps only worse than Obummer lying with BP about BP containing/skimming 90% of the oil before months end.  The so-called "media" is still cowed into accepting BP and the government preventing access to the spill site, the contaminated marshes and beaches, and the workers toiling for BP.  Check out this story at the World Socialist Website on how the cleanup workers are being treated.  It's clear that these sons-of-bitches JUST DON'T CARE.  The totalitarian, facist States of America is now in full bloom.  Who's running security for BP, Blackwater/Ze or the government?  Pardon me, they are one and the same.


“It’s just chaos down here,” he said. “We’ve had people working for weeks, and all of a sudden they’re told they’re not even hired; Ashland says they have no record of them working and don’t have their work applications. People are told to re-file applications over and over. They find every possible way to scam you out of your pay.” (so the workers are getting fucked while the "Pay Czar" does face time on tee vee about speedily processing claims).


“I’ve worked with these disaster-relief companies before,” said Dean Blanchard, owner of a shrimp processing and distribution company in Grand Isle, Louisiana. “The worse it is, the more money they get. Their modus operandi is, let [the disaster] get as big as it can, then go to the bank,” he said. (sounds like he's channeling Naomi Klein, huh?)


Walter, a skimming boat captain from Charleston, South Carolina, said that skimming is ineffective. “We’re barely doing anything. Out of 150 million gallons, we haven’t picked up two million,” he said. “They deliberately sunk all the oil to the bottom as a PR move. There just isn’t much for us to skim.”


So there you have, Capitalism and the government hard at work putting the thumb screws to the average worker, and they don't give a shit if he or she happens to be red, yellow, black or white.  It's all "metrics" to them.


The goose is cooked because cut-throat capitalism Euro/American style was doomed to fail from the git go, neither sustainable nor ethical.  This excellent essay pretty much sums it up:


The Collapsing Western Way of Life

The greatest threat to the Western Way of Life is the Western Way of Life itself.

by John Kozy


Global industrial capitalism will continue on the gradual downward descent to collapse. The Golden Age of industrial capitalism that lasted from 1945 to 1970 cannot be recreated merely by applying the right mixture of spending, subsidies, re-regulation, and international agreements. Because the economic advantages of industrialization rely on the two ingredients mentioned above, overproduction and profit, balanced trade is impossible if the advantage is to be preserved; it entails no economic profit. Ultimately too many nations will be too poor to be importers, and the machines in the exporting countries will cease to function. Industrialism is a Hegelian synthesis which embodies the forces for its own destruction. The greatest threat to the Western Way of Life is the Western Way of Life itself. Patches may prolong it, but they cannot remove its contradictions.


Chandran Nair writes,

The 20th century’s triumph of consumption-based capitalism has created the crisis of the 21st century: looming catastrophic climate change, massive environmental damage and significant depletion of natural resources. . . . The western economic model, which defines success as consumption-driven growth, must be challenged. . . . Advocates of the western model tend to play down its dramatic effects on natural resources and the environment. They refuse to acknowledge that their advice runs counter to scientific consensus about limits and the need for stringent rules on resource management. Instead, they argue that human ingenuity aided by innovations in the markets will find solutions. This is rooted in an irrational belief that we can have everything: ever-growing material wealth and a healthy natural environment. The stark evidence . . . should be proof enough that this is not possible.


No, it's not possible, but the impossibility lies in the system's logic, not in its effects. To use the preferred diction of economists, the system is unsustainable. Since the collapse of the industrial system is inevitable, a fundamental rethinking of the way the economy works is the only alternative. It has always been the only alternative."


Nope.  America can't or won't solve it's problems, it's too late, the system has been irretrievably broken, the race to the bottom has started and will only accelerate.  Remember, Obummer's "Fiscal/Deficit" committee hasn't meet yet (the one with the N.C. investment banker--Bowles-- and former Sen. Allan Simpson) to detail how they are going to cut the social safety net, who will win that race, the federal government or your local and state governments, or will it be a tie, only time will tell?  Welcome to the Failed States of America.

Good points, but....

Human-caused climate change is also one of the big lies.  Yes we are changing climate in localized ways (like smog), but NO it is not the end of the world.   If the models were correct, we would already be in an out of control positive feedback.  But thank goodness the Earth is smarter than that.

Here is the current big 3 lies that are currently in play:

1) Global Terrorism requires us to give up our rights and liberty

2) Global Financial Crisis requires us to give up our well being

3) Global Climate Change requires us to go back to the stone age

The US legal system and Karma clash


"...Adding insult to injury, US courts ruled that Union Carbide couldn't be tried in US courts for the crimes against Indians (it is interesting that various US politicians make the case for trying foreigners for alleged crimes against Americans even though its own citizens can never be tried for crimes against foreigners in their courts). The parent company, Union Carbide, was put into liquidation and subsequently acquired by another company (Dow Chemical). After this acquisition, the name Union Carbide is still used, even though Dow Chemical has refuted all responsibility for the 1984 catastrophe.

"The response of Union Carbide to Indians has been on the lines of "Accidents happen. You can use the Bhopal plant as collateral to take any payments that will be used to compensate our victims. Make that your victims."


"Americans have mass cognitive dissonance with respect to their self-image. In their own minds, they view the American system as "fair, equitable, meritocratic, innovative and good". They also perceive that this view is considerably different in the minds of foreigners: "greedy, evil, litigious, hypocritical, lazy". Americans view their enterprise system through companies like Apple, Google and Boeing. The rest of the world views the system through the eyes of companies like GM, Goldman Sachs and McDonald's."


"The lack of reaction to the Union Carbide issue renders comical the US media reaction to the BP situation where a "mere" 11 people died compared with the thousands in India. It is a big environmental disaster, but then again, if all that oil hadn't been lost to the sea it would have simply ended up in the gas tanks of American vehicles and polluted the whole world. In that respect, having it leak and polluting "only" the swamplands of southern US can be considered a "good" thing for the rest of the world."

So close, and yet so far

An excellent analysis, Glen, and much needed, but one problem: you're pointing the finger in the wrong direction.

Now I may be wrong, but my guess is that Joe Oligarch can't wipe his ass without an attendant to help. These people have no power. They are the ultimate parasites grown fat and dull upon the labor of others. All they know how to do is rape and loot and plunder and kill. But they cannot do this alone.

To accomplish their atrocities, they need the help of many and the cooperation of most. It is true that the predatory capitalist system is destroying us, but are the socialist nations much better? It's true that the state is wholly enthralled by the TNCs, but was it really ever otherwise?

None of the plunder and destruction is possible without the cooperation and support of vast numbers of ordinary people. Who are the police? The military? The corporate flunkies? Who is it that hops when the corporate masters say "hop" and puts those deadly policies into effect? Obama and others just pass those orders on. It is we, the people of the world, who rush to comply.

The oligarchs, the plutarchs -- these are but bugs who may be squashed at our whim. It is our unswerving obedience to this imaginary power structure and to the parasites who sit atop it that makes it all work. And nothing will change until we decide to stop cooperating.

Ever seen Fight Club? Remember the final scene where the protagonist realizes that he and Tyler Durden are one? "The gun is in his hand... the gun is in my hand" - one brilliant moment of realization that we are not helpless at all. The gun may be in his hand, but his hand and my hand are one and the same. I have the gun. And if I'm willing to do what must be done, the day may still be saved.

There is an enormous amount to be done, but nothing can happen until this realization sets in. The "system" is not fair, has never been fair, and will never be fair. We must work outside of the system, while doing our best to paralyze it, then dismantle it.

And the first and most important step is to kill your television. If you are reading this, and you still watch TV, then you're fooling yourself. You cannot continue to imbibe the most powerful drug ever created and somehow avoid its deadly effects. And that means all TV. No sports, no reality TV, no PBS, no news, no Jon Stewart, no excuses! Those who makes "exceptions" are no different than the heroin junkie who sneaks a fix. Get rid of it. Swear it off. Then use all that free time to create alternatives, to connect with like minded people, and to learn how the system really works and who created it and supports it (hint: look in the mirror). In short, use that freed up time to get a life. You may be surprised to find what you've been missing.

the Web of Debt is a must read

The book, "The Web of Dept- the shocking truth about our money system and how we can break free"  by Ellen Hodgson Brown is one of the most enlightening books you could ever read about the real history of the United States of America.

There is absolutely no reason the USA cannot create and control it's own money.  It is the ONLY solution to all of our major problems.  But it wont be easy.  The last president to make some movement towards regaining control from the horrible Federal Reserve Act of 1913 was Kennedy- and we all know how that ended up.

Ain't the end of the world or we don't know what that looks like

Depends on how you define the end of the world, the earth will do just fine w/o it's "subjects,"  it operated for eons without us, so no, not the end of the world.  But maybe, just maybe "the end of the world as we know it."  Especially for fat-ass, sloven, petulant, materialistic, unethical, dumb Americans, all of us.


What amazes me, to the point of intellectual "fatigue," is how Americans have this inviolate faith that everything will work out in the end.  99% of Americans stupidly believe we can solve ALL problems. (Mother Earth is going to teach us otherwise). It's impossible to get people to think that long term unemployment is now structural, they are still listening to cranks like Mad $$ Kramer, and other shills for Wall St. speak rosily about the Dow.  Look at all the "gaga" on Wall St. and compare that to housing starts, home purchases, consumer confidence all of which are falling into the tank.  Oh, and 1 million no longer receving  unemployment benefits.  Stupid Americans take it for granted that BP will successfully complete the relief wills, while they ignore the "invisible oil" now creeping into Pensacola that lies below the ocean.  No talk about the effects of ocean currents on climate or the impact of methane, Corexit, or other toxins on the world biosystems. 


Real estate is crashing in the Gulf as we speak, the fishing industries are in the tank as are the hospitality industries.  I damn sure won't eat anything that comes from this toxic soup.  What happens when the oil enters the Loop Current and heads up the East Coast?  You forget that real estate provides the base for most tax revenues, revenues that are drying up and shrinking as we speak.  Name me one State government that isn't cutting it's budget, or laying off workers including educators??  Oh, and Obummer's mortgage relief program was an abysmal failure.

No more money for a second "stimulus?"  How about no money to bail out the Gulf of Mexico states?  Do we leave them ass out ?

Where are the (johhny-come-lately) economists who are calculating the economic hit his country will take when the Gulf states lose billions in revenue?  What about that multiplier effect?


What I am confident about is that we are entering an era of "uncharterted austerity"--longterm or permanent-- for a variety of reasons.  The fucking morons and ethically challenged in government will continue the phony war on terror, and they don't give a shit how much that hurts America's working class.  Even phony ass Democrats and "Progressives" are preaching austerity.  Who the hell is listening?


The fucking morons who constitute the body politic will continue their ignorant rants about "terrorism," and "values," and America's greatness and "freedoms" when they are being eroded as we speak.  Freedoms?, say something impolitic and see how fast your ass is filing unemployment.  The goddamn "Fourth Estate" can't even tell you what's really happening in the Gulf.  We'll keep our heads in the sands or up our asses until it's too late.  No mortgage relief policy?  How about now no job or industrial policy?


Americans are scared shitless, we can beat our chests to high heaven and grab our crotch more than MJ, but the fact of the matter is we are scared chicken littles because the future looks bleak.  And this fear exacerbates stupidity and ignorance.


The faith that people have that all will end up well is laughable. Watch as America is hoisted on it's on petard.  May not be the end of the world, but damn sure gonna be the end of an era and for many that translates into the end of the world as we know it.


Last, if the BP relief wells fail as all else has failed to this point, we can certainly revisit the issue then, perhaps perspectives will change by then?  The cusp of the perfect storm is here: ecological and economic disaster, job losses continue, no social safety net, Afghanistan and Iraq policies disasters, middle class sucked dry, no real domestic policies other than telling people who they can fuck or marry.  And the political and bankster class will continue shoving their dicks in us.  And Middle America will bend over and take it because they always vote against their interests.


Sitting here right now watching CNN, you (we) better hope BP can even put the fucking containment cap back on the well, let alone drill relief wells.  American Exceptionalism, a fucking pipe dream.  Welcome to the multi-polar world.

Cynic's a hypocrite

You talk about the foolishness of Christian ethics but consider your own to be superior.  The truth is that you're only concerned with yourself.  Because of that you'll never be content.  No?  When will you be perfect?  When will you live in a perfect world?  You're just going to be bitter.

Ha Ha Ha, who's a hypocrite??

Stay on subject T.T.  Do you agree with the other Tea Party Hacks, the Rep. Joe Bartons of the world that BP was shaken down" or do you believe there's not enough being done to help the Good White Christians down in the Gulf?  (you've noticed I've hardly mentioned Black folks this week) That's the question.


I'm not a hypocrite my friend, just nuanced and complex, like most human beings, those who aren't fundamentalist Christians anyway, they voluntarily exclude themselves from such descriptions.


Christians don't have "ethics" not most of them anyway, they have "beliefs."  What do you believe?  That corporations are manna from God or that people were made in his image?  Will you manifest some Christian ethics or not. Stop "talking" like a Christian and start "acting" like one. (that's what kills me about you Christians)


Who's side are you on T.T. Ceasars's or Christ,  BP's and "capitalism" or ordinary people?  My positions are clear. Save us the sermonizing, you sound like this guy here, now that's a hypocrite, Tea Party style. I bet you the million dollars he got in crop subsidies he's a Tea Party Christian too. The Bible says, "test me in this.." Can you pass the "test" T.T. or will you fail??:


Think Progress details the pathetic story of a Missouri farmer who wanted to make a political statement but ended up saying more than he'd ever imagined about the real culture of entitlement.

Missouri farmer David Jungerman has raised the hackles of local residents with a politically-charged sign he’s placed on his “45-foot-long, semi-truck box trailer” on his farm. The trailer reads: “Are you a Producer or Parasite Democrats – Party of the Parasites.” Now, the Kansas City Star reveals that Jungerman has been the recipient of over a million dollars of federal farm subsidies since 1995:

The Raytown farmer who posted a sign on a semi-truck trailer accusing Democrats of being the “Party of Parasites” received more than $1 million in federal crop subsidies since 1995. [...]

After a story about Jungerman’s trailer ran in Sunday’s Star, however, some readers called him a hypocrite for criticizing others for getting government help while taking government subsidies paid for by taxpayers.

Jungerman said he put up the sign to protest people who pay no taxes, but, “Always have their hand out for whatever the government will give them” in social programs.

Not a hack

I'm no partisan hack, Cynic.  Joe Barton is an idiot without excuse.  I'm also infuriated by the rest of the manufactured rage from other legislators who hoped to salve the media and mindless viewers by demanding unsubstantiated admissions of guilt.  The gulf is dying and doesn't care who caused it or who will be affected.  Likewise, I want the problem FIXED before we start looking for whipping boys.  Once we have the problem under control and serious clean up is happening, I'm happy to revisit the heinous corruption in both the public and private sectors that brought us here.


I love that region.  My dad and I have hunted and fished in some of the areas that will be most affected.  The shallow water estuaries have always been a great source for crawdads, oysters, crabs, bullfrogs and fish and a great place for a boy to learn how to live off the land.  I bet I could still go into the swamps with nothing more than a knife, a tin can and a bic lighter and be fat and happy for a month or more.  And, now that my dad has gone the way of all flesh, the losses in that region will be that much sadder.


The gulf crisis is not a Christ or Caesar type of issue (speaking of nuance).  It's irrational to start crucifying people before we know the expanse and scope of the problem.  You might be aware that, sometimes, investigators don't throw the first criminal in prison right away.  When faced with the possibility than corruption and incompetence could be all throughout the system that brings THE FUEL OF OUR ECONOMY to market, you don't want to be too quick to spook folks.  What if you drag Joe Gasket Manufacturer in front of the cameras only to scare Jane The Government Inspector into shredding the documents that link him to her?  Stop looking for darts to throw at Christians long enough to use your head and deal with the problem at hand.


Christ was not an oil man or a business man.  He was and is a heart man.  I don't mind that you don't share my faith but don't say that ethics is trash and then try to exclude your particular ethics from that judgment.  THAT'S what I was calling hypocritical.

Get your tit out the ringer...

Last week, on Ms. Hutchinson's blog about atheism, I was about the only one there defending Christians, the "good hearted ones who use their brains anyway, or at least their right to believe in a higher power, I think I even made a case for some version of Intelligent Design or don't you remember?


Who was that who said not long ago, "I'm not your enemy."????

Maybe it's time for Blacks to 'skip town'?

What the hell compels us to even fight for this land anymore? To defend any notions spawned here? Screw this turf. The ofay has no regard for these lands or waters and if determined will relentlessly set out to ruin it for thousands of years. So to hell with any and all of the mere coping strategies that goes with the territory. "Creation is the work of a lifetime, but destruction is the work of an afternoon" come to mind? Lets work towards a Black 'mass exit' strategy. Lets dust off the Garvey playbook. "AFRIKA FOR THE AFRIKANS, AT HOME AND ABROAD!" Are Blacks of the Diaspora going to seriously consider going back...home...after 500 years of...

...this spiritual and spatial foot on our necks?

Founding Slavemaster Jefferson's warning has gone unheeded. Too bad for the peckerwood and the land their forefathers conquered. AMERIKKA IS NOT MY 'HOMELAND' AND IT NEVER WILL BE!!! Fuckabirfcertifikit! (Hurricanes are born in Afrika, silly ;-}) I want to go home!...and I know I'm not the only one...that don't want to be buried on these unfamliar lands. My ancestors were snatched and smuggled here across the ocean, and goddamnit, if I have to paddle my ass back across the same ocean in a crate with a plank...

All I'm saying is that if thangs go thermonuclear (pretty please don't forget the ICBMs), I wouldn't mind being at a far end of the Earth away from the Northern Hemisphere (history teaches us these crackas will inflict massive damage on each other)... Zimbabwe or Zambia (or 'Zaire'); the "Deep South" of Afrika, or as I affectionaly call it, down in 'Nigga Afrika'. MoZambique, TanZania, SwaZiland or 'AZania' would work out too; for shits and giggles I'll throw in BotZwana...It's a different take on 'the first shall be last and the last shall be first' (must I break out my theoanthropological stick on fools?), but it's interesting to note how so many southern Afrikan nations bordering each other have in their names the letter Z.

Bedtime Reading

I tell you what.  I don't know about global warming, especially when Wall St. grifters are licking their chops over the potential billions traded under a cap and trade regime.  If those fuckers like it, reason for pause.  I don't know about refuting global warming as well.  Maybe it's eons change in the making, maybe green house gases, who knows, leaks from the "Climate Conference" makes the entire debate less than credible.  What I do know about is acid rain, I know the Cedar River in my hometown is rated one of the top 5 most polluted rivers in America--"endangered"--I know about the mining sludge that washed out a town last year or so, and I know cancer rates in New Orleans are above the national average.  So fuck global warming for a minute and think about the KNOWN.


Don't Do as the Romans Do

Jared Diamond’s Collapse traces the fates of societies to their treatment of the environment

Collapse is partly a response to the dominant environmental discourse in the United States today, which holds that environmental concerns are secondary to economic and security concerns. Rather, Diamond argues, environmental concerns are at least equal in importance, and inextricably linked, to all other aspects of a society's success. His examples imply that, when it comes to the environment, a stitch in time means more than saving nine -- it's the difference between keeping and losing your shirt.


Is Energo-Fascism In Your Future?

Michael T. Klare

January 17, 2007

Unlike Islamo-fascism, Energo-fascism will, in time, affect nearly every person on the planet. Either we will be compelled to participate in or finance foreign wars to secure vital supplies of energy, such as the current conflict in Iraq; or we will be at the mercy of those who control the energy spigot, like the customers of the Russian energy juggernaut Gazprom  in Ukraine, Belarus and Georgia; or sooner or later we may find ourselves under constant state surveillance, lest we consume more than our allotted share of fuel or engage in illicit energy transactions. This is not simply some future dystopian nightmare, but a potentially all-encompassing reality whose basic features, largely unnoticed, are developing today.

These include:

  • The transformation of the U.S. military into a global oil protection service whose primary mission is to defend America's overseas sources of oil and natural gas, while patrolling the world's major pipelines and supply routes.
  • The transformation of Russia into an energy superpower with control over Eurasia's largest supplies of oil and natural gas and the resolve to convert these assets into ever increasing political influence over neighboring states.
  • A ruthless scramble among the great powers for the remaining oil, natural gas, and uranium reserves of Africa, Latin America, the Middle East, and Asia, accompanied by recurring military interventions, the constant installation and replacement of client regimes, systemic corruption and repression, and the continued impoverishment of the great majority of those who have the misfortune to inhabit such energy-rich regions.
  • Increased state intrusion into, and surveillance of, public and private life as reliance on nuclear power grows, bringing with it an increased threat of sabotage, accident, and the diversion of fissionable materials into the hands of illicit nuclear proliferators.

Together, these and related phenomena constitute the basic characteristics of an emerging global Energo-fascism. Disparate as they may seem, they all share a common feature: increasing state involvement in the procurement, transportation, and allocation of energy supplies, accompanied by a greater inclination to employ force against those who resist the state's priorities in these areas. As in classical 20th century fascism, the state will assume ever greater control over all aspects of public and private life in pursuit of what is said to be an essential national interest: the acquisition of sufficient energy to keep the economy functioning and public services (including the military) running.


p.s.  If Anderson Cooper and the mighty CNN can't find out what the fuck is going in the Gulf of Mexico, then what?  Are we witnessing the "national security/vital interest" security apparatus at work?  Do we find out later on a Presidential directive or finding was in fact issued militarizing some, but not all, aspects of the cleanup.  Or that some goddamn "contractor" like Halliburton or Bechtel is running security??  Apparently BP owns the goddamn Gulf of Mexico, if 360 can't get access???


I guess the fucking oil that "disappeared" with Corexit doesn't matter.  Typical dumb ass Americans, out of sight, out of mind.


"Nighty night."  "Sweet dreams."




From what I've read, I am not prepared to take global warming lightly. Perhaps it is not possible to prove to everyone that human activities on the current global scale such as burning of fossil fuels and clear cutting are more responsible for measurable changes such as the rapid disappearance of polar ice caps and glaciers all over the world than are some long-term naturally occuring cycles. I still think that it is smarter to hedge one's bets by reducing the added risk caused by human activities, as much as possible, by changing our behaviors. Given our track record as a species, I am not one to underestimate our ability to to change/alter/damage the environment. If I remember correctly, the concept of acid rain was ridiculed by the usual vested interests until forests in Canada and in the norheastern United States began to die, and lakes became acidic and sterile. Even then, the power station lobbyists and "Joe Sixpack" fought to keep big, bad government from imposing scrubbers and other changes. Prior to the BP gusher in the Gulf of Mexico, almost no one whose opinion mattered, accepted the fact that there is no margin for error when it comes to deep sea drilling, or anticipated the potential scale or the enormous cost of failure. I agree that alot of the cap and trade "regulations" are nothing more a ponzi scheme which enables big, well financed polluters to keep doing what they are doing without creating any net reduction in green house gas emissions. I still think that there are many smart ways to create incentives for everyone which would actually reduce greenhouse emissions and enable us to produce energy without requiring anyone to live in the cold and darkness. We need to do so long before we run out of the time needed to make reasoned responses.

Quote of the Day


"Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all."

- John Maynard Keynes


Update #1:

Don't yall worry your little heads off, the DemoRats and ReThugligans are going to fix everything, they'll make it right. Go back to watching Snookie or Real Housewives.



Central Banking in Crisis: Some Twenty Countries on the Verge of Insolvency

Published on 06-24-2010

By Bob Chapman - The International Forecaster




The Coming U.S. Real Estate Crash

Published on 06-24-2010

By Michael Snyder - BLN Contributing Writer

Time to Hit the Default Button: Deadmen walking

Do the citizens of the "Shining City on the Hill," the conquerer of WWII, the hope and promise of the world, the defender of life, liberty and the pursuit of happiness" really give a shit or are they operating out of some fucked up hologram?


Looks like little outrage or MEDIA COVERAGE of the Senate's refusal to extend jobless benefits for 1.2 M Americans, most of whom are white.  It looks like US politicians, the Right Wing Conservatives in particular are shilling and apologizing to BP even though I am willing to bet that Pensacola's hospitality industries alone will take a $20B hit, and most of the victims I saw on T.V. were regular White people.  The question is:  "Is this what America wants, the "majority" if you will?  Because it damn sure seems so when there are millions of options to do otherwise?


It looks like Americans, just like their politicians are more concerned with their pocket books than their neighbors.  The folks who look them them, worship like them, share the same values as they do, apparently don't stand a chance against BP or Billions spent on Military adventures "security" or Defense Contractors.


Seems to be little empathy for those White shrimpers and fisherman down there, too much American Idol I suppose.  Too many rosy prognistications by Jim Cramer I suppose?  The point I'm trying to make is that when good, ol, salt-of-the-earth white folks are getting hammered and screwed, not even that will jolt the Oligarchs and Pols into action or soften their little Christian hearts. When good, hard working whites are getting fucked in broad daylight, you know it's getting bad, and there's nothing these sons-of-bitches won't stoop too.


Come new fiscal year, July 1 everyone should enjoy their last real "Independence Day," as we entering the era of austerity.  California is flat ass broke, because of a broken political system, same can be said for about 40 other states, and of course our own federal government.  It's all about "out of control spending, what we can't "afford," well here's an interesting insight on what "out of control spending" means.  hint- MORE  CORPORATISM.


Often, when politicians refer to "out-of-control spending," they're simply talking about spending on programs they don't favor. But the Missouri state auditor's office has written a report that more closely aligns with the kind of thing we consider out-of-control spending. The report revealed that the amount spent by Missouri on its tax credit programs exceeded the amount predicted in fiscal notes by $1.1 billion between 2005 and 2009.


One example: A historic preservation tax credit was supposed to use about $71 million during that period. In fact, the cost was over $600 million. You've got to wonder how an error of that magnitude could be made. The auditor's office suggested that annual and cumulative caps on credits, as well as better ways to analyze credits, could all be helpful to Missouri. Other states should take note."


So there you have it folks. I love the characterization of the auditor's report:  "You gotta wonder how an error of that magnitude could be made."  Artful, wasn't it?  Thank God for all those tax credits benefiting poor Blacks and Whites in the ghettos and trailer courts, or folks in the barrios.  I'm a big fan of historic preservation too, no, seriously.  Point is the tax relief went to real estate deveopers, restauranteurs and the like, whose developments NEVER CAME CLOSE to generating the tax revenues that justified the credit in the first place.  (pssst. But let's not talk about that too loud).  Do your research and you'll find the same scenario regarding State and local funding of stadiums/sports complexes; most states and localities ended up footing the bill. (but, pssst.  "keep it down).  Bottom line:  how do you say corporate welfare?  But wtf, they're "capitalists" while you broke M.F.r's are "socialists."  Get it, broke = socialist.


So the bottom line in all this is:  Americans are going to get what they not only deserve, BUT WHAT THEY WANT, which is austerity tempered by the hologram.


To those of you who say its time to build alternatives, NOW, your absolutely right, and I'm on board be you red, yellow, black or white. I've been on the megaphone for years talking about "we will change either by design by plan or default,"  as I'm sure hundreds of thousands of other people have too.  Looks to me come July 1 DEFAULT kicks in, "hello out there?!"... Dead Man Walking.


America is a company-owned town because every fucking American thinks he or she is a Middle Manager.  Ha, the jokes on them, they're usually the first fucks to get fired by the Oligarchs, with their State U degrees.


Here's one of America's fine Middle Managers:


The Elites are so brazen to protect their own

The US Supreme Court has significantly restricted the ability of federal prosecutors to bring criminal charges against corrupt politicians and corporate CEOs who plunder their own companies, setting strict limits on the use of a 1988 law making it a crime for such officials to deprive constituents or shareholders of their “intangible right of honest services.”

Obummer, BP's Risk Management Dept. Head

Good grief, just when you think "what next" you get it.  The Elites are sticking their dicks so far up us, soon our eyeballs will burst, from the inside out.  Here's the latest "news" story you won't hear on the tee vee, for about, oh, 2 or 3 weeks at best:


Lawyers say shocked over uses of $20 billion Gulf fund


The lawyers said they were shocked that the fund was also for purposes other than compensating people suffering economic losses from the worst oil spill in U.S. history. Those purposes could include massive clean-up costs and litigation.


"That was sold to the American public as a compensation fund. And now we have learned that they can use it for whatever the heck they want to use it for," said Robert Kennedy, an environmental lawyer and activist.


"It's another subterfuge by BP, one of the many that we have discovered recently," Kennedy told Reuters at a conference in Atlanta on litigation over the spill.


The money can be used for a variety of purposes but compensation is central, said Michael Rozen, a partner in the Feinberg Rozen law firm charged with administering the fund.


Aha!!!  So while the American "Media" was focusing on whether Heyward did or didn't "get his life back," whether he should have been yatching like the rest of the rich fucks, they DIDN'T BOTHER TO DISSECT THE DEAL brokered by BP Head of Risk Management, Barack Obummer.  My God, how many more insults must we endure??!!  The friggen GOP maggots are talking about a "shakedown," when BP comes out smelling like a rose.  I told yall those $400 an hour laywers were hard at work.  This shit was more brilliant than filing bankruptcy, WHICH IS STILL ON THE TABLE.


More from the article:


They estimated clean-up costs alone could amount to $30 billion in Louisiana, Mississippi, Alabama and Florida.


"Imagine if BP uses a significant portion for clean-up costs," Weitz said at the spill litigation conference. "What's left for the victims?"


What's left for the victims?  Well wtf do you think?  There are no "victims" in US capitalism, only innocent, oft times, WILLING bystanders.  Let's just call it "collateral damage."


When this fiasco is all said and done, IF it ever becomes "all said and done," remember tropical storms are on their way and an August projection for the relief wells,(that SOME OF YOU HAVE INVIOLATE FAITH will work) being in place.


Don't be surprised that by Mid-Term Elections, Obummer and the Democrats have to build a berm around Washington, D.C.  People are going to explode when the scam is revealed.


Meanwhile, back at the farm, the Surge will be ramped up in Afghanistan, after all, speaking of Iraq and Marc Antony er Paetreus, Obummer said, before YALL ELECTED HIM, "the Surge has succeeded beyond my wildest dreams." More blood and treasure on the "WOT," $400 an hour slick lawyers for the shrimp/fishermen in the Gulf.  Hows that for "change you can believe in??"


And Obummer has been a dissapointment beyond even E.C.'s wildest dreams. Sitting here and listening to NPR and their talking head guests, Tom Jelton says there's a "somber mood" around DC because of McChrystal's "firing."  Fuck that mass murderer and psychopath, get your ass down to the Gulf and dissect the "BP shakedown."  There's a "somber mood" in Merica.

$$ for BAR, organizing, Detroit, documentation in lieu of action

I deeply apprecciate the efforts and accomplishments of BAR as I expressed in a private missive to Margaret Kimberley of BAR this morning. That said, I'd like to underscore that BAR's concerns with $ to get thru the summer, etc. can be addressed satisfactorily if BAR will join hands with me in solidarity to implement a NJ and/or NY version of what's delineated at I am certain of that. [Pause.] I recently noted that an experienced activist attending the Detroit gathering expressed the notion that the whole shebang would be worthwhile simply because people had had a rendezvous in peace to network, etc. NO. A big no. We no longer have the luxury to plant seeds that will not bloom in time. Such a comment shows no acknowledgment of our having deadlines, serious deadlines on several fronts. As things stand, nothing significant enough will be advanced with Detroit. I submit that we are documenting and "meeting" (with summits, conferences) ourselves to death IN LIEU OF TAKING MEANINGFUL ACTION which follows a new paradigm. A new model of action must be embraced whether or not it's in the form of my TOSCA (link given above) or something else. PLEASE... I would like Glen Ford to contact me once again... so that we can move in solidarity on a basis that will serve BAR's purposes. For that will be moving along a path that will benefit one and all. I am prepared to work 24x8 on the thrust of what I am laying out here. Richard Martin Oxman at [email protected] or at 831-688-8038 in Aptos, CA at any hour. Glen... Margaret... anyone, please.

Don't believe a "socialist" ? Then listen to the "capitalists"

Read em and weep boys and girls.  Looks like yall have buttoned down the hatches.  Putting away all that extra money for a rainey day.  Savings UP, Dow DOWN.  "What's up with that??"  Yall not consuming??


Economic fears gripped Wall Street again on Tuesday as the Dow shed another 268 points and broke below the 10000 level in the wake of crumbling U.S. consumer confidence figures and fresh signs China’s economic recovery could derail.


The ugly selloff left the Dow at one of its lowest closes of the year, in the red for the fourth day in a row and well below the psychologically-important 10000 mark. The benchmark index has tumbled 428 points, or 4.16%, over the past four trading days and is now off 11.91% from its highest close of the year.


The Nasdaq Composite took an even bigger hit, nearly dropping triple digits and suffering its worst percentage decline since May 20 as technology stocks like SanDisk (SNDK) and (AMZN) posted steep losses. The index closed at its lowest level since February.


"While the recession may have technically ended last summer, consumers remain skittish about job and income prospects and are refraining from consuming in a sufficient enough manner as to create substantial growth in GDP," Dan Greenhaus, chief economic strategist at Miller Tabak, wrote in a note.


“The fear is that the economy is stagnating and maybe contracting a little bit,” said Paul Nolte, managing director at Dearborn Partners. A double-dip in the markets is “a possibility because it’s driven by psychology more than earnings or fundamentals.”


But, but, but... what happened to all that talk of "Green Shoots" and the recession is over?  Could it possibly be that the Wall St. sharks have a better feel for the austerity that will usher in with the 4th of July firecrackers?


Come on capitalists, open those wallets and get the economy back on track.  When State revenues and budgets fall to "Chapter 7" levels, it will be your patriotic duty to shop til you drop, lest you find the Banksters back at the public trough.  We might get to see how the "Greatest Wall St. reform since the Great Depression" works, much faster than we think.   My guess is that it'll work as well as the BP Compensation Fund.  (To hear Feinberg on NPR this morning gushing about BP on NPR, you think he just got a blowjob from T. Heyward).

Wakeup, the Parasites are at it again, this time, supersized!

Meanwhile, while all were occupied over w/n Obummer smacked down McSerial Killer or vice versa, the Banksters were at it again, from Mike Whitney, at Smirking Chimp blog:

"The American Enterprise Institute is helping the Federal Reserve develop a strategy to dump $1.25 trillion in mortgage-backed garbage on the U.S. taxpayer. If the toxic transfer goes forward, the losses will be greater than all of the other bailouts combined. This is really big and it will require public vigilance to make sure the plan does not succeed.

There's nothing fancy about the AEI's strategy; it's a straightforward "no frills" ripoff. Bernanke buys the toxic assets and non performing loans from the banks (which he's already done) and then transfers it to the GSE's (Fannie Mae and Freddie Mac). It's that simple. The Fed merely acts as a middle man to create a paper-trail long-enough to confuse the public about what's really going on. And, what's going on is another sleazy looting operation. Here's an excerpt from the AEI's web page by the eerily-named "Shadow Financial Regulatory Committee" which explains what's going on:"

Read the rest of it at the link, and be sure to read the comments that follow.

Also, for all of you we believe man can "tame the universe" and solve all sorts of wonderful problems like phantom debt, ponzi schemes, shadow housing inventories, unemployment and oil spills, here's some sobering news from the same website:

"Apparently, they had tried two or three drills earlier and this created, as it were, a pimple, an infection on Mother Earth’s skin at that level. And without the casing, what happened? I pieced together from 70 to 80 sources from both the mainstream as well as professional journals, such as Oil and Gas and The Oil Drum, that when the bore hole collapsed on itself, it was a temporary plug, but it was a softer porous rock full of fissures that was only going to last for a short period of time. But what happened was that the oil, and especially the natural gas--the methane we are hearing about, which is very deadly--exerted enormous pressure and then spread out laterally over a number of square miles creating, if you will, a boil on the sea surface.

And this is where I’m very angry with President Obama, the government, the Coast Guard, and everybody involved. They are still leading people to believe that there’s only one leak from a single wellhead when in fact we have a multitude of leaks. Several leaks, one three or four miles west, have been confirmed. So what happened is that this boil exploded and there is more than just the single leak from the wellhead. You have other leaks, and Senator Bill Nelson of Florida has asked about them. These are confirmed but nobody is addressing them.

There is little or no hope of containing all the oil."

What’s happening in the Gulf now Gary is that this is an environmental disaster that makes the World Trade Center pollution pale in comparison, and by God that’s hard for me to say because I saw some of the after effects and I’ve met some of the people from 911.

The US government should be providing protective gear and getting people out of the area. Every pregnant woman should be moved out of that region. We should be moving young children, the elderly and the infirm out because this is a catastrophe that is going to lead not only to dramatic ecological damage and the poisoning of people but to a total economic collapse for the region because the National Oceanic and Atmospheric Association charts now show very clearly this oil spill is going to continue. It might continue for as long as two years, and that whole region is dead economically.

You’re going to see foreclosure rates the highest in history. I should note parenthetically that US foreclosure rates are now higher than they were in 2008 and 2009. More troubled banks. So we’re going to see millions, perhaps five to 10 million displaced people having to leave the area and the US government is doing nothing. And I think this is a paradigm issue in that I don’t think the US government or BP or anybody is even capable of comprehending what has been unleashed in the Gulf. "

E.C.: Go to the link and get the depressing facts for yourself. The collapse of America may be closer than you think. I've said for weeks, "what if the oil doesn't stop flowing, what if it flows for years?" I honestly believe that Obummer has SECRETLY issued Presidential Finding and/or Executive Orders declaring a "National Security Emergency" this would explain BP's and the Government's single-mindedness in not allowing even the toadies from the MSM to get the full story. There is a "military operation and government cover-up of gigantic proportions going on in the Gulf of Mexico," and it seems all we're concerned about is whether Elena Kagan is gay or not, or who is responsible for missing white girls and women. Kagan is another milquetoast, Eastern Elite who'll eat and sleep just fine as the Gulf of Mexico's inhabitants face financial ruin.

Cripes, that notion of a perfect storm of cataclysms can't seem to escape my little mind: failure in Iraq and Afghanistan, Israel bombs Iran, Straits of Hormuz chocked, gas rockets to $5/gallon, BP's relief wells fail,(MSM "reports" other leaks as well 3 months after the fact)
housing and stimulus "bubbles" burst while Fed, State and local governments make deep cuts to social safety nets (following California's lead in practically eliminating the welfare state), unemployment levels now accepted as "permanent and structural," and other environmental and economic disasters await, another "stimulus" for the banksters, Bernanke transfers more ponzi scheme debt to the public sector and off the banksters cooked books, and more cuts to the bone for the sheeple. I can see a Merry, Merry Xmas on the horizon, can't you??? Sweet dreams, boys and girls.

Martial Law

EC. I think you hit it on the head. The fact that the MSM is not saying really anything about contingency plans is that they have a plan in place and can't quite let the "cat out of the bag" just yet. Citibank has already suspended foreclosures in the region. Unemployment benefits ending and billion dollar a year industries wiped out(fishing, etc.), ripple effects to other industries(tourism, etc.) it doesn't take a genius to see what the probable outcome is. Although people like to swim in "de nile." The most cynical part of me wonders if this will mean more people enlisting in the military as options for surviving economically start to wane severely. Just in time for the ratcheting up of war propaganda against Iran. History has shown us that when the economy is tanked, what gets it going again is war, or maybe it's the last spasm and attempt to forcibly colonize area/markets/natural resources of the world when all else has failed. Go for broke indeed . . .

When in Rome, do as the Bangladesh do

DHAKA — At least 15,000 protesting garment factory workers blocked key roads in the Bangladeshi capital Dhaka Wednesday, the latest in a string of protests over low wages and poor conditions.

Police fired tear gas and used water cannons to disperse the workers, who sew clothes for some of the top names in Western retail, after they blocked a major intersection in the north of the city.

"There are 15,000 to 20,000 workers massing in the street, holding protests over benefits and wages. They blocked a main road and hurled bricks at police," Dhaka's deputy police commissioner, Salim M. Jahangir, told AFP.

Bangladeshi workers, who make clothes for major Western brands such as Wal-Mart and H & M, have been demanding wages of at least 5,000 taka (70 dollars) a month. The current minimum wage is just 25 dollars."

Martial Law, we don't need no stinkin Martial Law, we have "twitter," and "facebook, at least until the account goes delinquent. We'll bludgeon the oligarchs with millions of "tweets," the "radio frequencies" will disorient and put them in their place. We have "freedoms."

"Family Values" or "BP values??"

Looks like the ravages of corporate America will take it's toll in other ways-- mental health and social fabric breakdown. But don't worry folks, after all more and more states are allocating resources for family intervention, depression, social services, and counseling...NOT!!!! Wait a minute, on a "cost-benefit" ratio looks like the social safety net loses, looks like Christian values are being superseded by corporate values. Hey, it is a "company town" after all.

"Depression. Domestic violence. Rising divorce rates. Growing feelings of mistrust. Suicides. Substance abuse.

These are a few of the mental health problems that Steve Picou says Pensacola area residents can expect from the long-term effects of the BP oil spill.

Picou, a University of South Alabama sociology professor, brought that message to the annual Be Ready Alliance Coordinating for Emergencies meeting Tuesday at the First Baptist Church in downtown Pensacola.

"We're going to have a regional impact on the economy that's incredibly severe." Picou said at the BRACE session. "The impacts are going to systematically go through the fabrics of coastal communities. Underneath the radar, a little more intangible, are the corrosive effects on families and communities. There is also a lot of sadness and depression."

p.s. It's all good folks, John Wayne er.. David Paetreus is going to keep yall safe and secure...from the 200 or so al Qaeda holed up in Afghanistan. We can do nation building, "yes we can," across the Atlantic that is...

Food for thought, seriously

Dumbing Down Society Part I: Foods, Beverages and Meds

"If the main message of this website has been to this point “watch what enters your mind”, the main message of this article is “watch what enters your body.” The consumption of the products stated above will probably not cause an immediate and noticeable effect. But, after many years of ingesting those substances, one’s thoughts become increasingly clouded and foggy, the ability to concentrate becomes hindered and judgment becomes impaired. In other words, the once sharp mind becomes dull. What happens when a population is heavily sedated and poisoned on a daily basis? It becomes numb, zombie-like and docile. Instead of asking important questions and seeking a higher truth, the dumbed-down mass simply accomplishes its daily tasks and absorbs whatever the media tells them. Is this what the elite is looking to create"

Also, "button down the hatches" folks, looks grim:

25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010
Published on 06-30-2010

Pack of Lies

I must say we are being slave to group of some lousy billionaire who not only control the money flow in this country but every political move as well.Every time when new president elected I heard those so called public reforms words but on ground its nothing but bunch of lies.Our political leader are certified corrupt who surrender themselves to some bloody elites.This gulf oil crises nothing but a latest episode of some kinda horror show.

Citigroup's Parsons Says Finance "Reform" 2make big banks bigger

We do indeed live in bizarro world. Well . . . not really when you know the game is rigged. What . .. the regulation will make banks BIGGER? How is that, my liberal brain is exploding from the paradox!

"U.S. President Barack Obama praised lawmakers last week for passing what he described as the “toughest financial reforms” since the Great Depression. . . ." yet "Citigroup Inc. Chairman Richard Parsons said the Obama administration’s financial regulatory overhaul bill will make the U.S.’s largest banks bigger.

“They will make it tougher for smaller competitors and the big are going to get bigger,” Parsons said in an interview at the Fortune Global Forum in Cape Town today. The plans will lead to a “denser regulatory environment” and may not create any “material impediments” to Citigroup’s growth strategy, he said."

Oh the irony . . . corporate socialism. Who woulda thunk it?

Wait, wait, only get's better!!!

Thank God we get "journalism" from the MSM from time to time. I hope the advocates and proponents of the Great American Experiment in "capitalism" pay close attention. The free market wet-dream Libertarians and Randians can read em and weep because their "immutable" theory of the market place turns out to be crapola:

"Seventy percent of the volume [of trades on the stock market] is computers that are run by the banks playing ping pong with stocks for 10 seconds at at time," Ratigan said.

"The stock market at this point, which used to be a reflection of the future value of actual businesses in this country, has been turned by our government and our banks into little more than a paper shredding facility [about which] we can make up reasons why it goes up and down," Ratigan said. "But when the computers ... at the banks are controlling the action, most everything else is kind of silly."

Ratigan concluded that it's time to create an "alternative investment structure" that would allow people to invest their money without putting it "into the obviously corrupt stock market in this country."

Many market observers say this "games" the entire stock market in favor of the large banks that practice high-frequency trading. Indeed, there is evidence that HFT has made the large investment banks much more profitable. As Ratigan mentioned, HFT is estimated to account for 70 percent of all the trading on the New York Stock Exchange."

E.C.: So guess what "free marketeers" the stock market is run by Quants, mathematical whiz kids, not saavy guys like Mad $$ Kramer. Looks like all the pretty ass brunettes don't know shit, can't admit the market is run by astrophysicists. HA

Erin Burnett, your hubby is an investment banker, why you ain't told us how the market works? For the record this info. has been out there for years, but the Wall St. suck asses perpetrating as journalists have shielded it from the public. The "Dow" says "blah blah." There is no fucking "Dow" it's all quants all day playing 3 card molly at nanosecond speed. Thank you Dylan Ratigan.

"Ratigan concluded that it's time to create an "alternative investment structure" that would allow people to invest their money without putting it "into the obviously corrupt stock market in this country."

Excerpt: Basically, HFT refers to the setting up of private stock exchanges even more dependent on computer trading than the servers run by the standard financial exchanges. With the human factor excised, it truly is time for the rise of the machines, as massive computer power is employed to almost instantaneously move, to buy or sell, huge amounts of stock or other financial instruments. Since this concept came into existence during the fullest flowering of market laissez faire ideology before the crash, these exchanges were always, and continue to be, totally unregulated. (See Goldman Sachs - the lords of time, Asia Times Online, August 5, 2009.)

E.C.: So not only are the institutions heretofore "to big to fail," now bigger than ever, but the "stock market" as described and romanticized by Kramer, Erin Burnett and Maria Bartiroma doesn't even exist. It exists only in their starry-eyed imagination and in support of their six figure salaries. Americans, what a bunch of rubes.

The "Dow," give me a fucking break, the "Dow" is some computer geek from MIT computing with another geek from Cal Poly in a race to see who can manipulate the market in milliseconds while we sheep wait breathlessly at the latest "tick" in the market interpreted to us by our Financial Shamans. Good Grief! Only in America.

p.s. Parsons, while deserving credit for his honesty, is a day late and a dollar short, this was reported almost a year ago. Sort of like "Pulitzer Prize Worthy" stories from the MSM, usually some double-secret that the oligarchs give them permission to write after the damage is done. The knowledge that institutions were CONSOLIDATED and thus bigger than ever was well-known, it's just that nobody gave a shit about correcting it. The "Greatest Financial Reform since the Great Depression" was suppose to bring a correction. Here's the irony, EVERY TIME Obummer does some watered down, "bi-partisan" bullshit, every time he shows weakness and lack of principle IT BACKFIRES. He kept McChrystal and Gates post-Bush, he adopted COIN and Paetreus, the Stimulus was less than "half-a-loaf" and now the country needs another one, his response to the BP spill has been pathetic, you'd think this guy would get if, but he won't it's in his fiber to be a chump. Imagine the fallout when the bankster bailout turns out to be a failure, stimulus bubble bursting, real estate continuing to decline, banks are about to fail again. Let's see what happens this time. Should be interesting.

The Problem is no regulation creates it's own problems

As you adroitly lay out, there is no free market for the various and sundry reasons you stated, need no repeating here. Moreover, as I've remarked before, "ideological purity" is about as pure as my libido, cold some days, hot others.  (kinda like the stock mkt. of late, huh?). 


The condundrum libertarians face, and maybe it's one we all face regardless of ideology, is that no regulation leads to monopoly power in as many instances as regulation (as a barrier to entry) does.  When was the last time we had an anti-trust suit brought either privately or by the US government?  Microsoft??  Well, we see how well that went.  But in fairness, there is veracity in saying regulation facilitates monopoly power.  Long ago, on a boring summer eve I read Roy Cohn's autiobiography ( "I know, I know, but hear me out").  Cohn correctly stated that regulation is often used to impede competition by creating barriers to entry and he's substantially correct, to a large degree, not absolutely though.  Ask a cabbie or street vendor in NY about regulation, ask a burgeoing skilled tradesman or contractor about regulations, ask the non-profit that wants to refurbish old homes about regulation... and all, I believe will confirm the Libertarian creed. But also ask them about monopoly power.  "Too big to fail exists because anti-trust laws are not enforced, if they were we'd never be in that positon."


But what is interesting and dare I say "promsing" is that some die-hard capitalists (because I have no doubt Ratigan is one) believe that the system cannot function without some transparency and level playing field.  And a stock market that's based upon who recruits the best quant is like, well.. that other NY franchise, the Yankees, who can outspend their competitors for the best talent, or shall I say "so-called" talent because they are really fucking up the economy.


Goddamn shame that we allowed the media to cast these villians, these Wall St. INVESTMENT BANK SHARKS, as "bankers," as "banks."  It's well past time capitalists who believe in fairness and who care about this country speak up.  No HONEST business pundit can tell you that we are creating jobs they can and will tell you how brilliant so and so was in shedding the "fluff," or "deadweight," and how they improved "shareholder value" by dumping 1000s of workers and heading overseas. 


The so-called banking sector, the one that Bush and Obummer bailed out to the tune of trillions doesn't create one goddamn thing except stock market manipulation, boom and bust cycles, and they rob honest investors and funds blind, EVERY SINGLE DAY by manipulating trades with their NASA-quality computer programs and quants.  This debacle is even worse than we think because the stupid, moronic, chickenshit politicians constantly whine about we need investment capital for jobs, but can't point to one goddamn job created.  The disconnect is fucking unbelieveable.  And oh, btw, didn't lying ass Obummer plead for the TARP and other "tools" because the "credit markets were tight,"  didn't this lying prick talk about the need to keep capital circulating?  Well we've seen how much capital is ciruclating these days.  The fucking FED takes the bad debt off their books (Quantative Easing) and puts the burden on tax payers, THEN turns around and loans these fucks money at zero interest, they in turn continue to gamble and manipulate the stock market, and continue their shadow inventories of failed loans.


What a fucking blunder, like the handling of the Gulf spill, Obummer and the Dems might have to bail these fuckers out before the ink drys on "The Greatest Piece of Wall St. Regulation since the Great Depression."  Talk about compounding lies, who is advising these idiots??


But it's only possible because America is a company town and every wannabe fuck is a wannabe middle manager.  So they believe in their little Randian hearts that the markets working and the engines of commerce are just roaring away.  Why the fuck don't they listen to the facts, this is a service economy and a consumption economy not one twit of manufacturing.  Why is it so hard when the facts are staring you in the face???  When small, medium and large plants are closing left and right?


Are we really that stupid?  Seriously.

comment deleted again . . .

Oh well . . . darn, I wish I had saved it to further respond in more detail to you here. Also deleted was the UXA post.(note: dear supervisor, I know deleting 300 spam mails is taxing, but darn . . . wish my posts weren't getting off'ed in the process)

Anyway - you are right - the finance sector commands
$1.2 QUADRILLION(thats 1,000 TIMES A TRILLION) in fake, illusory, financial instruments while the world productive economy is a measly 60 trillion. This $1.2 QUADRILLION can be used to game the system - in fact this is why "complex financial instruments" such as derivatives were created in the first place. SO $1.2 QUADRILLION exists really as financial weapons of mass destruction whose only purpose is to serve as what basically translates into the economic equivalent of a secret arsenal of "black ops" meant to keep things going in a particular way.

If people REALLY knew how controlled the stock market was - their heads would probably implode like a star and create a black hole.