Category: 03 Economy

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Winslow Wheeler: Media Plays Dead for Panetta Virus

03 Economy, 04 Inter-State Conflict, 07 Other Atrocities, 10 Security, 11 Society, Budgets & Funding, Commerce, Corporations, Corruption, DoD, Government, IO Deeds of War, Military, Misinformation & Propaganda, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests
Winslow Wheeler

Yesterday, the Nieman Watchdog journalism group at Harvard asked me to evaluate how well the press is scrutinizing Secretary of Defense Leon Panetta. Basically, it's not; instead, Panetta seems to be free of informed, skeptical questioning; he must be absolutely delighted with the treatment he is receiving.

Why is the press ignoring Panetta's frenzied rhetoric and data-free myths?

The defense secretary likens budget-cutters to Nazis and makes assertions that simply aren't true — but the media don't seem to care, writes Winslow Wheeler.

The silence in the press about the overheated rhetoric and dubious myths from Secretary of Defense Leon Panetta makes for a very unhappy comparison of today’s defense journalism compared to previous eras when, for example, SecDef Casper Weinberger was the subject of serious critical analysis.

Read full article.

Phi Beta Iota:  Leon Panetta, like Bob Gates before him, is a posturing pimp for the military-industrial complex that pays 5% bribes to get 95% discounts on the taxpayers treasure.  He could not stand up to fifteen minutes on the same stage with any one of us–Chuck Spinney, Winslow Wheeler, Ralph Peters, Bob Scales, etcetera.

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Gordon Cook: On the State of Economics – An Exchange Dedicated to #OWS and Society Achieving a Broader Understanding

03 Economy, 07 Other Atrocities, Blog Wisdom, Budgets & Funding, Commerce, Commercial Intelligence, Corporations, Counter-Oppression/Counter-Dictatorship Practices, Misinformation & Propaganda, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests, Secrecy & Politics of Secrecy
Gordon Cook

Here is the final paragraph from an essay by John Kay titled

The Map is Not the Territory: An Essay on the State of Economics

The preposterous claim that deviations from market efficiency were not only irrelevant to the recent crisis but could never be relevant is the product of an environment in which deduction has driven out induction and ideology has taken over from observation.  The belief that models are not just useful tools but also are capable of yielding comprehensive and universal descriptions of the world has blinded its proponents to realities that have been staring them in the face.  That blindness was an element in our present crisis, and conditions our still ineffectual responses.  Economists – in government agencies as well as universities – were obsessively playing Grand Theft Auto while the world around them was falling apart.

to which I responded

What we are up against

A refreshing reminder of the staid mechanistic approach of so-called market-efficient economics. Good for the status quo as used to explain to the world WHY the Masters of the universe are in charge. I'm not sure how many of the deans of business schools and Harvard economics professors are prime advocates. But I imagine a substantial amount remembering the interviews that Ferguson did in the documentary Inside Job. They get very well rewarded for being apologists for the current system.

But I would like to take off from this point and try 500,000 foot summary of some of the issues. I am not sure how many people really understand the nature and the reasons for our problems I have a stack of books on my porch more than 3 feet high that I've read since 2008 attempting to grasp it. It is only with the addition of the latest by Nicholas Shaxson called Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens that I feel I have made really significant progress.

Whether it is possible for the occupy movements to create among their followers and the wider public at large an understanding of the situation, I'm not sure. But I suspect that short of violent revolution which has never been a positive accomplishment–the only way forward is to formulate this broader understanding.

Continue reading “Gordon Cook: On the State of Economics – An Exchange Dedicated to #OWS and Society Achieving a Broader Understanding”

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Chuck Spinney: Evolution in the USA, Israel as Leech

02 Diplomacy, 03 Economy, 10 Security, 11 Society, Civil Society, Cultural Intelligence, Government
Chuck Spinney

Evolution in the USA

Below is a very interesting essay analyzing the evolution of culture, economics, and politics in United States.  Other authors have done similar types of analyses, but this one has some interesting twists.  It is a synopsis of a book just written by the author that blends together aspects of cultural, geographic and even religious anthropology, with history, politics, and political economy in a way that illustrates obvious synthetic potential of using GIS (computerized Geographic Information Systems) in efforts to evolve our understanding of history, political economy, anthropology and patterns of cultural evolution in general.  The author ends on a shallow political note, laying out a counter-Tea Party strategy, but don't let that crassness turn you off from the larger intellectual possibilities implicit in this kind of work.

A Geography Lesson for the Tea Party

Click on Image to Enlarge

 

Even as the movement’s grip tightens on the GOP, its influence is melting away across vast swaths of America, thanks to centuries-old regional traditions that few of us understand.

By Colin Woodard, Washington Monthly,November/December 2011

Read full article (five screens).

See: American Nations: A History of the Eleven Rival Regional Cultures of North America

See Also: Nine Nations of North America

And a second contribution today:

United States needs to reevaluate its assistance to Israel

Walter Pincus

Washington Post, 17 October 2011

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Winslow Wheeler: Two Myths (Lies) from Leon Panetta

03 Economy, 04 Inter-State Conflict, 05 Civil War, 07 Other Atrocities, 10 Security, 11 Society, Commercial Intelligence, Corruption, Cultural Intelligence, DoD, Government, IO Deeds of War, Military, Misinformation & Propaganda, Office of Management and Budget, Officers Call
Winslow Wheeler

Panetta's Frenzied Rhetoric Is Not Stopping the Decay of U.S. Forces

Huffington Post, 14 October 2011

Before Tuesday this week, Secretary of Defense Leon Panetta had been sprinkling Washington D.C. with words like “doomsday mechanism,” “catastrophic,” and “shooting ourselves in the head” to describe any cuts in the Pentagon's budget beyond the $450 billion over 10 years (overall a 4 percent reduction) he and President Obama have already committed to. Panetta had set a new standard for overheated rhetoric to defend the Pentagon's budget.

Read full article.

Phi Beta Iota:  Panetta, like Gates and others before him, is a political toad incable of telling the truth or pursuing the public interest.  He is telling two major lies in all of his speeches: 1) that cutting the defense budget will weaken national security; and 2) that what we pay $1 trillion a year (in borrowed money) for is “the finest fighting force in the world.”  Not so less the infantry, which is 4% of the force, takes 80% of the casualties, and receives 1% of the budget.  In an honest government, Panetta would be impeached–and all his senior generals and senior executive sychopants retired.

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MELTDOWN: Al Jazeera Four Part Video Special

03 Economy, 07 Other Atrocities, 10 Transnational Crime, Budgets & Funding, Commerce, Commercial Intelligence, Corruption, Cultural Intelligence, Government, Law Enforcement, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests

MELTDOWN

Part I:  The men who crashed the world

The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.

In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the thron

Part II:  A global financial tsunami

Meltdown examines how an epidemic of fear caused banks to stop lending, triggered protests and led to industrial action.

In the second episode of Meltdown, we look at how the financial tsunami swept the world. We hear about a renegade executive who nearly destroyed the global financial system and the US treasury secretary who bailed out his friends.

Part III: Paying the price

As the toll of the financial crisis continues to mount, many are looking for its true causes – and finding a crime.

The third episode of Meltdown looks at how the victims of the 2008 financial crash fight back. A protesting singer in Iceland brings down the government; in France a union leader oversees the kidnapping of his bosses; and thousands of families are made homeless in California.

Part IV: After the Fall

Some responded with denial, others by re-thinking capitalism, but who is preparing for the next crisis?

In the final episode of Meltdown, we hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.

Phi Beta Iota:  This is a world-class series that misses just two things:

A.  Goldman Sachs has owned the US Treasury–providing the Secretary of the Treasurer (and today also the National Security Advisor to the President–for three critical administrations, each of which willfully eradicated safeguards.

B.  Senator Phil Graham (R-TX) and the other Senators who had and still have zero integrity, passing 200 pages of lobbyist written deregulation inserted into the bill five minutes before the vote.

Penguin adds:

C.  The perfidy of Clinton in his Glass-Steagall sellout and his CONTINUED malignant hyping of its ethic through obfuscation and the pimping of what “reputable” analysts who want access to his solon. For him America was built on deal making and networking.

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Tom Atlee: #Occupy A Dance of Inspiration & Strategy

03 Economy, 11 Society, Blog Wisdom, Civil Society, Counter-Oppression/Counter-Dictatorship Practices, Cultural Intelligence, Ethics, IO Deeds of Peace, Officers Call
Tom Atlee

#Occupy – a dance of inspiration and strategy

Here are some more good articles and websites about the Occupy Together movement, the global extension of Occupy Wall Street.

In this posting there are a number of pieces about strategy and tactics – appeals to and descriptions of nonviolence (including some tips useful in everyday life as well as demonstrations); what contributed to their success in holding onto their NYC site; the logic of their non-partisan messages that are not tied to specific demands; etc. You'll also find a powerful video highlighting the hypocrisy of US officials condemning crackdowns on Arab Spring protests while condoning crackdowns on domestic Occupy protests.

I've also excerpted an inspiring, sober open letter from long-time Christian activist Jim Wallis. His whole article is worth reading. It was sent to me by my friend and colleague Rosa Zubizarreta who writes:

“I highly recommend that people GO. visit. see for yourself. engage in wonderful conversations. volunteer. contribute…. yes, there are clearly challenges and difficulties (it's certainly not perfect, as Rainbow Gatherings and Peace Camps and Soup Kitchens and all of those various manifestations of “free zones” are not perfect…) AND, it is so very much alive, filled with many wonderful moments and lots of learning and creativity and connection… On Friday morning in Occupy Boston, there were several classrooms visiting… their teachers bringing them in for a field trip… it was awesome!”

Others have written to me about conversations happening among finance professionals about the changes that are needed in their sector – conversations stimulated and energized by the Occupy Wall Street protests. Increasingly, this aspect of nonviolent protest – encouraging urgently needed conversations about change – is becoming the trademark of this movement. And this is an invitation to those of us who know how to make conversations meaningful and productive…

Blessings on this 13.7 billion year old highly interactive Journey.

Coheartedly,
Tom

See all items and links

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DefDog: Chinese Pledge to Buy Europe…#OWS

01 Brazil, 02 China, 03 Economy, 03 India, 04 Indonesia, 06 Russia, Government
DefDog

China makes ‘secret eurozone commitment'

AFP, 16 October 2011

LONDON — China has made a “secret commitment” to prop up the crisis-hit eurozone in return for budget reforms and public sector cuts, the Sunday Times reported, amid ongoing turmoil over the region's debt crisis.

The paper said Chinese representatives at the Paris G20 finance gathering on Saturday had indicated that Beijing was willing to pump tens of billions into the eurozone to purchase infrastructure assets from debt-plagued nations.

The Sunday Times, which quoted a source close to the talks, added that Chinese banks could also increase their purchases of eurozone sovereign debt.

“China wants to be sure that Europe knows the size of the hole and that it won't get any bigger before they agree to fill it in,” the paper quoted the source as saying.

Europe had vowed to its G20 partners Saturday that it would take swift and decisive action to resolve a debt crisis that is threatening to drag the world economy back into recession.

French Finance Minister Francois Baroin, speaking after the meeting of G20 finance ministers and central bankers, said the eurozone would present answers as soon as next weekend, at a summit of EU leaders in Brussels on October 23.

Phi Beta Iota:  Predatory capitalism and inverted democracy are now “bracketed” by the emerging new financial order on the one hand (Brazil, China, India, Indonesia, Russia, South Africa + 50 other countries behind the scenes), and OccupyWallStreet in over 900 locations around the world.  The world is at a design opportunity point.  China will err on the side of institutions (doing the wrong thing wronger) and OWS will err on the side of populism in place of insttutions.  We need a blend of both–a hybrid system whose signal characteristic must be transparency for truth producing trust.

noble gold