The truth at any cost lowers all other costs — curated by former US spy Robert David Steele.
For those who are looking for a reason for the OWS movement…… and the lacking of ability on those who think it is a counter to the Tea Party……
Goldman Execs Stay Fat and Happy
The investment bank had a lousy third quarter, but employees will still take home billions in bonuses. Gary Rivlin asks, what gives?
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.
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.
Just do it.
Together we can ensure that corrupt crony-capitalist banking institutions will ALWAYS remember the 5th of November! If the 99% removes our funds from major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.
See Also:
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.
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.
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.
Phi Beta Iota: This is the idiot's solution. It assumes that we can continue to borrow $1 trillion a year during the ten years over which this $1 trillion will be cut. The ignorance and hypocrisy of the entire Washington world, including all the NGOs and niche publications, cannot be under-stated.
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.
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.
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.
