John Bogle: ENOUGH – Speculation Bad Investment Good

03 Economy, 07 Other Atrocities, 09 Justice, 10 Transnational Crime, Civil Society, Commerce, Commercial Intelligence, Corporations, Corruption, Government, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests

MARK JEWELL

Associated Press, 22 December 2011

EXTRACTS:

Bogle says he's paying close attention to tax policies he considers unfair, including one that's favorable to the fund industry and investors with taxable accounts. The top rate for dividends and long-term capital gains is historically low at 15 percent, as a result of the extension of Bush era tax cuts that Congress and President Barack Obama agreed to a year ago. In contrast, top earners pay 35 percent on regular income. He doesn't like that disparity.

. . . . . . .

As for capital gains, there ought to be some distinction between capital made by people who start businesses, and contribute value to society, and capital made by gamblers on Wall Street, some of whom win. Earned capital income should carry the regular dividend rate, but capital income gains by trading, and particularly short-term trading, should pay a higher tax, even than the present ordinary income rate.

. . . . . . .

Q: What's your take on the Occupy movement?

A: I'm happy to say that my current income puts me in the 99 percent group. So maybe I'm not so happy, I don't know.

This movement has brought to the surface some very serious problems in our country about disparities in opportunity and income. So many young people are having a terrible time getting a job.

Young people have great idealism, and the Occupy movement has been a bit unrealistic at times. So what? I can't imagine a worse America if our younger generation didn't have great idealism. I salute them for their enthusiasm, and their mission.

The negative side is that they just pushed too hard for too long. It's very difficult for any movement without any seeming leadership — other than a good idea — to have any sense of taste or judgment. Who's to say, ‘This is going too far'? In some places, it's just gone on too long, and it's been too disruptive. So I think it's good that we've been cleaning up the plazas where the Occupy movement set up.

Read full interview.

See Also (Steele Reviews in Each Case):

John Bogle, The Battle for the Soul of Capitalism

William Greider, The Soul of Capitalism: Opening Paths to a Moral Economy

Matt Taibbi, Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History

Chuck Spinney: Europe in Crisis Rule by Troika Spain and Hungary Next

03 Economy, 06 Russia, 08 Wild Cards, 11 Society, Commerce, Commercial Intelligence, Corruption, Government
Chuck Spinney

Rule by troika

by Serge Halimi
Le Monde Diplomatique, December 2011

Former bankers Lucas Papademos and Mario Monti have taken over in Athens and Rome, exploiting the threat of bankruptcy and the fear of chaos. They are not apolitical technicians but men of the right, members of the Trilateral Commission that blamed western societies for being too democratic.

In November, the Franco-German directorate of the European Union, the European Central Bank and the International Monetary Fund — the “troika” — were furious when the Greek prime minister, George Papandreou, announced plans to hold a referendum. This, they said, would call into question an agreement reached in October to strengthen the economic policy that had brought the country to its knees. Summoned to Cannes for an interview during a summit that his country was too small to attend, kept waiting, and publicly upbraided by Angela Merkel and Nicolas Sarkozy (who were responsible for exacerbating the crisis), Papandreou was forced to abandon the plan for a referendum and resign. His successor, a former vice-president of the ECB, promptly decided to include in the Athens government a far-right organisation banned since the Greek colonels lost power in 1974. (The troika expressed no views on this.)

The European project was supposed to secure prosperity, strengthen democracy in states formerly ruled by juntas (Greece, Spain, Portugal), and defuse “nationalism as a source of war”. But it is having the opposite effect, with drastic cuts, puppet governments at the call of the brokers, and renewed strife between nations. A young Spaniard voiced his anger at having to go to Berlin or Hamburg to find work: “We can’t go on being Germany’s slaves.” The Italians find the French president’s high and mighty attitude offensive and wonder, rightly, what exceptional talents might justify this.  Some Greeks are complaining about the “occupation” of Greece, with cartoons depicting the German chancellor in Nazi uniform.

For people in countries suffering under austerity measures, the history of Europe provides some outstanding examples. In some ways, recent events in Athens recall Czechoslovakia in 1968: the crushing of the Prague Spring and the removal of the Communist leader Alexander Dubcek. The troika has played the same part in reducing Greece to a protectorate as the Warsaw Pact did in Czechoslovakia, with Papandreou in the role of Dubcek, but a Dubcek who would never have dared to resist. The doctrine of limited sovereignty has been applied, though admittedly it is preferable and less immediately lethal to have its parameters set by rating agencies rather than by Russian tanks rolling over the borders.

Having crushed Greece and Italy, the EU and the IMF have now set their sights on Hungary and Spain.

See Also:

Mini-Me: Iceland Breaks the Back of Western Banking

Mini-Me: European-US Banking–Tangled Web — Tell Me Again, Why Shouldn’t We Default and Let the Banks Fry? + Financial Terrorism RECAP

Chuck Spinney: War Drums Beat within Versailles on the Potomac — War with Iran Promoted — More Lies and Miscalculation

04 Inter-State Conflict, 05 Iran, 10 Security, 11 Society, Articles & Chapters, Blog Wisdom, Corruption, Director of National Intelligence et al (IC), DoD, Government, IO Deeds of War, Media, Military, Misinformation & Propaganda, Officers Call, Peace Intelligence, Power Behind-the-Scenes/Special Interests
Chuck Spinney

On 12 December, I described a concatenation of warmongering pressures that were shaping the popular psyche in favor of bombing Iran.  Now, in a 21 December essay [also attached below], Steven Walt describes a further escalation of these pressures — in this case, via the profoundly flawed pro-bombing analysis, Time to Attack Iran: Why a Strike is the Least Bad Option, penned by Matthew Kroenig in January/February 2012 issue of the influential journal Foreign Affairs.

One would think that our recent experiences in Iraq and Afghanistan and our growing strategic problems in Pakistan, not to mention our economic problems and political paralysis at home, would temper our enthusiasm for launching yet another so-called preventative war.  But that is not the case, as Kroenig's analysis and the growing anti-Iran hysteria in the debates among the the Republican running for president show (Ron Paul excepted) show.  Moreover, President Obama’s Clintonesque efforts to triangulate the pro-war political pressures of the Republicans, while appeasing the Israelis, may be smart domestic politics in the short term, but they add fuel to the pro-war fires shaping the popular psyche. Finally, as I wrote last January, lurking beneath the fiery anti-Iran rhetoric are more deeply rooted domestic political-economic reasons for promoting perpetual war — reasons that have more to do with sustaining the money flowing into the Military – Industrial – Congressional Complex in the post-Cold War era than in shaping a foreign policy based on national interests.

While it is easy to whip up popular enthusiasm for launching a new war, our misadventures in Iraq and Afghanistan have shown that successfully prosecuting wars of choice are quite another matter.  Nevertheless, as my good friend Mike Lofgren explains in his recent essay, Propagandizing for Perpetual War, devastating rebuttals like Walt's are likely to have little effect on the course of events.

One final point … a surprise attack on Iran would trigger a far tougher war to prosecute successfully that either Iraq or Afghanistan.  If you  doubt this, I suggest you study Anthony Cordesman’s 2009 analysis of the operational problems confronting Israel, should it decide to launch a surprise attack on Iran’s nuclear facilities.

Yet, the beat goes on.

Chuck Spinney
The Blaster

The worst case for war with Iran

Stephen M. Walt

Foreign Policy, 22 December 2011

If you'd like to read a textbook example of war-mongering disguised as “analysis,” I recommend Matthew Kroenig's forthcoming article in Foreign Affairs, titled “Time to Attack Iran: Why a Strike Is the Least Bad Option.” It is a remarkably poor piece of advocacy, all the more surprising because Kroenig is a smart scholar who has done some good work in the past. It makes one wonder if there's something peculiar in the D.C. water supply.

There is a simple and time-honored formula for making the case for war, especially preventive war. First, you portray the supposed threat as dire and growing, and then try to convince people that if we don't act now, horrible things will happen down the road. (Remember Condi Rice's infamous warnings about Saddam's “mushroom cloud”?) All this step requires is a bit of imagination and a willingness to assume the worst. Second, you have to persuade readers that the costs and risks of going to war aren't that great. If you want to sound sophisticated and balanced, you acknowledge that there are counterarguments and risks involved. But then you do your best to shoot down the objections and emphasize all the ways that those risks can be minimized. In short: In Step 1 you adopt a relentlessly gloomy view of the consequences of inaction; in Step 2 you switch to bulletproof optimism about how the war will play out.

Kroenig's piece follows this blueprint perfectly.

Read full article.

Eagle: Two Four Star Generals Write New York Times Op-ed Against NDAA and Indefinite Detention of Americans

07 Other Atrocities, Corruption, Counter-Oppression/Counter-Dictatorship Practices, Cultural Intelligence, Military
300 Million Talons...

4 Star Generals Warn Against Against NDAA Indefinite Detention

The Intel Hub
December 21, 2011

Two four star Marine generals have written a stunning op-ed in the New York Times which demands that President Obama veto the National Defense Authorization Act, a bill that allows the government to use the military to indefinitely detain American citizens without due process.

Charles C. Krulak and Joseph P. Hoar, both 4 star Marine generals, published the piece on December 12. The op-ed starts with a direct demand that President Obama veto the NDAA bill in order to protect our country from the “false choice between our safety and ideals.”

It then gets into one of the most blatant anti American treasonous provisions in the history of the United States.

One provision would authorize the military to indefinitely detain without charge people suspected of involvement with terrorism, including United States citizens apprehended on American soil. Due process would be a thing of the past.

Some claim that this provision would merely codify existing practice. Current law empowers the military to detain people caught on the battlefield, but this provision would expand the battlefield to include the United States — and hand Osama bin Laden an unearned victory long after his well-earned demise.

The generals then go on to cite the fact that most in the military have not even asked for this extreme new power.

Sadly, many at the Pentagon are openly planning on unleashing the military on the American people and if we do not see more high level military personal speak out against this and other tyrannical bills America is finished as we know it.

Reform Coalition: CNN – A Vote for Ron Paul is a Vote Against Establishment — and Now the Zionist Lobby Is After Ron Paul

Corruption, Cultural Intelligence, Media

CNN has done a very good job at framing how Ron Paul is drawing out the anti-government / anti-establishment vote.

They have done less well at using the talking points they were obviously given by a Zionist group, attacking Ron Paul for appearing on the Alex Jones show, for commenting immediately after 9/11 that the Bush Administration was over-joyed because it gave them a pretext for war on Iraq, and–from the Wall Street Journal but clearly part of some talking points paper–for connecting 9/11 and attacks on the US to what the US has done in the Middle East [to which we would add, US support for all but  two dictators for the past fifty years].

It's bad enough that we have to deal with Republican candidates and a Democratic incumbent unable to discern the truth, much less articulate it.  To have a broad attack unleashed against Ron Paul–one with enough money behind it to draw in CNN and the Wall Street Journal, is of grave concern.  He speaks truth–those that seek to diminish him profit from lies.

Sample Headlines [Clearly an Orchestrated Funded Campaign]

2011-12-22 What Ron Paul Thinks of America [WSJ, Dorothy Rabinowitz]

It seemed improbable that the best-known American propagandist for our enemies could be near the top of the pack in the Iowa contest, but there it is. [Dorothy Rabinowitz]

Continue reading “Reform Coalition: CNN – A Vote for Ron Paul is a Vote Against Establishment — and Now the Zionist Lobby Is After Ron Paul”

Marcus Aurelius: Hackers to Attack Feds Over Manning?

07 Other Atrocities, 09 Justice, 11 Society, Civil Society, Cultural Intelligence, DoD, Government, Law Enforcement, Media
Marcus Aurelius

Feds involved in Manning prosecution enter hackers' crosshairs

By Aliya Sternstein

NextGov, 12/20/2011

A government-hired forensics specialist and an Army investigating officer could face online backlash from WikiLeaks supporters who are unhappy with this week's prosecution of a U.S. soldier accused of releasing confidential government files to the anti-secrets website, a computer engineer affiliated with hacktivist group Anonymous said.

Read full article.

Continue reading “Marcus Aurelius: Hackers to Attack Feds Over Manning?”

John Steiner: Who Is the Government “For”?

03 Economy, 09 Justice, 11 Society, Civil Society, Commerce, Commercial Intelligence, Corruption, Cultural Intelligence, Government
John Steiner

The Defining Issue: Not Government's Size, But Who It's For

Robert Reich

Huffington Post, 19 December 2011

The defining political issue of 2012 won't be the government's size. It will be who government is for.

Americans have never much liked government. After all, the nation was conceived in a revolution against government.

But the surge of cynicism now engulfing America isn't about government's size. It's the growing perception that government isn't working for average people. It's for big business, Wall Street, and the very rich instead.

In a recent Pew Foundation poll, 77 percent of respondents said too much power is in the hands of a few rich people and corporations.

Read rest of article.