Journal: Klepto-Capitalism (Legalized Looting)

03 Economy, Commerce, Commercial Intelligence, Ethics, Government
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Chuck Spinney weighs in today on the manner in which the US citizen is being looted–right now, as this is written–by private equity firms (Allen & Co comes to mind, home to Bill Bradley and George Tenet), and point us to an article in Naked Capitalism worthy of review.

There has been a convergence of inattentive and under-informed citizens (including employees ill-served by labor unions that have themselves sold out); managers lacking in integrity and all too willing to serve as intermediaries in the destruction of public equity in favor of private equity; and of course Wall Street, which bought Congress, owns the Federal Reserve, and has crafted modern legalized looting or “klepto-capitalism.”

Monday, October 5, 2009

Quelle Surprise! New York Times Fails to Call Private Equity Looting by Its Proper Name

The New York Times tonight features a generally very good piece, “Buyout Firms Profited as a Company’s Debt Soared,” by Julie Creswell that falls short in one important respect: it fails to call a prevalent and destructive practice of private equity firms by its proper name.

Journal: The Demise of the Dollar

03 Economy, Commerce, Commercial Intelligence, Ethics, Government
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The demise of the dollar

In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading

By Robert Fisk

Tuesday, 6 October 2009

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Phi Beta Iota: This is what happens when citizens abdicate their role as sovereigns over Congress, and allow Congress to sell out to Wall Street and the Federal Reserve (which is neither Federal nor a Reserve, just a front for Wall Street).

Journal: Afghanistan Bipartisan Blindness

10 Security, Government, Peace Intelligence

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White House: Leaving Afghanistan not an option

WASHINGTON – The White House said Monday that President Barack Obama is not considering a strategy for Afghanistan that would withdraw U.S. troops from the eroding war there.

. . . . . . .

Obama has invited a bipartisan group of congressional leaders to the White House on Tuesday to confer about the war. He said the administration would brief leaders from both parties and key committee chairmen and would seek their opinions.

Phi Beta Iota: Not only is the White House itself out of touch with reality on Afghanistan, but inviting a “bipartisan” collection of the same appartchiks that allowed us to go into two elective wars and to bankrupt the nation twice over is hardly the way to get coherent strategic advice.

Journal: Afghanistan as Corruption Squared

Government, Policies, Threats
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Afghanistan Journal

(PoliticsDaily.com)

October 1, 2009

Obama's War: Take Your Time
By David Wood

One brigade commander, Col. Michael Howard, is on his fourth tour in Afghanistan and understands it like few others. Still, there are pieces of this war that stop him cold. One of them is government corruption. “It's a cancer without a cure in Afghanistan, and if we don't come up with a cure, it will cause us to fail,” Howard told me last month, biting off his words angrily.  . . . . . . .  Given the stakes, Biddle said, “it is appropriate for the commander in chief to be aggressively challenging what he's told by anybody.'

Phi Beta Iota: Truth really is stranger than fiction.  The White House is NOT getting the “full spectrum” intelligence it needs to make good decisions, for three simple reasons:

1.  No one with access who has both strategic holistic vision and the integrity to demand that the President be fully and properly briefed on the ten high-level threats, the twelve harmonizing policies, and the costs and consequences of ignoring 8 out of 10 threats and 9 out of 12 policies.  The President needs a mentor not a partisan nanny or a blindly obedient advisor.

2.  A secret intelligence community leadership unable to think for itself and actually generate strategic matrices for the President that are helpful.  Right now, using the long-standing OSS.Net, Inc. motto of “Information costs money, intellience makes money,” the US IC is a $75 billion a year sink-hole, largely worthless to the White House or Congress.

3.  The President is still wrapped in the partisan bubble that got him elected–like Bush-Cheney, when backed by Wall Street, his insiders know how to steal elections, but they do not know how to govern.  Phi Beta Iota persists in believing that Barack Obama could be the George Washington of the 21st Century, but he MUST find his own voice and a new set of advisors that combine strategic vision, integrity, and loyalty to the Constitution over the partisan crime family.

Journal: Paul Rahe and Charles Gasparino on Obama’s Implosion

Government, Policies, Policy, Reform, Strategy

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Burned by Obama:Wall St. execs feel betrayed

By CHARLES GASPARINO,September 29, 2009

Obama, according to Wall Street people who regularly deal with his economic and budget officials, is acting as if he has a blank check to do what he wants, while ignoring the longterm costs of his policies.

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Paul Rahe: Obama's wrecking crew

September 30, 200

When I was working on my book Soft Despotism, Democracy's Drift, I read a work that Walter Lippmann, the co-founder of The New Republic, published in 1937. In it, with an eye to the New Deal, he observed that, while

the partisans who are now fighting for the mastery of the modern world wear shirts of different colors, their weapons are drawn from the same armory, their doctrines are variations of the same theme, and they go forth to battle singing the same tune with slightly different words. . . .

Continue reading “Journal: Paul Rahe and Charles Gasparino on Obama's Implosion”

Journal: State of the Administration

Government

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Some Signs of the Times

by Victor Davis Hanson

Pajamas Media,October 1, 2009

How to distill the news? After watching it far too much the past nine months, I offer five random conclusions from what I think is going on in the age of Obama.

1. Disconnect
2. Abroad
3. Top and bottom
4. Getting Along
5. The Mother Polis

This is a “must read” that also includes an “Ironies Corner” worthy of reflection.