Review (Guest): ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism

5 Star, America (Founders, Current Situation), Capitalism (Good & Bad), Congress (Failure, Reform), Crime (Corporate), Crime (Government), Culture, Research, Democracy, Economics, Education (General), Education (Universities), Executive (Partisan Failure, Reform), Politics, Power (Pathologies & Utilization), Public Administration, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial), True Cost & Toxicity, Values, Ethics, Sustainable Evolution, Voices Lost (Indigenous, Gender, Poor, Marginalized)
Amazon Page

Yves Smith

Product Description

Why are we in such a financial mess today?  There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk.
But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease.  ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster.

Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown.  Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability.

Review (DVD): The Most Dangerous Man in America–Daniel Ellsberg and the Pentagon Papers

07 Other Atrocities, 09 Justice, 10 Security, 11 Society, 6 Star Top 10%, Censorship & Denial of Access, Civil Society, Congress (Failure, Reform), Consciousness & Social IQ, Corruption, Corruption, Crime (Government), Cultural Intelligence, Culture, Research, Democracy, Empire, Sorrows, Hubris, Blowback, Executive (Partisan Failure, Reform), Government, History, Impeachment & Treason, Justice (Failure, Reform), Media, Methods & Process, Military, Military & Pentagon Power, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial), Truth & Reconciliation, Values, Ethics, Sustainable Evolution
Amazon Page

5.0 out of 5 stars Stunningly Relevant Today and Always

December 7, 2010

I completely missed the release of this film in July, and stumbled on it while picking movies for a sick son.

It opens with Henry Kissinger, since demonstrated to be a war criminal, calling Daniel Elsberg the most dangerous man in America, and lamenting the release of secret documents (that ultimately proved government perfidy). Fast forward to WikiLeaks as a sequel to the 935 documented lies led by Dick Cheney.

Continue reading “Review (DVD): The Most Dangerous Man in America–Daniel Ellsberg and the Pentagon Papers”

Review (Guest): The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street

5 Star, America (Founders, Current Situation), Atrocities & Genocide, Capitalism (Good & Bad), Congress (Failure, Reform), Corruption, Crime (Corporate), Crime (Government), Economics, Executive (Partisan Failure, Reform), Impeachment & Treason, Justice (Failure, Reform), Misinformation & Propaganda, Peace, Poverty, & Middle Class, Politics, Power (Pathologies & Utilization), Public Administration, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial), True Cost & Toxicity
Amazon Page

Robert Scheer

5.0 out of 5 stars The great American Stickup

September 8, 2010

In this book, “deregulation” is a four-letter word: a synonym for leaving the U.S. taxpayer, U.S. markets and the U.S. reputation wide open to greedy mindless homegrown plutocrats. In short, it is a synonym for leaving the nation vulnerable to conscienceless unpatriotic Wall Street thieves.

Here in easy to understand language, Robert Scheer has pealed back the layers that cover up the whole stinking mess that has become “stripped-down vulnerable deregulated America.” The method of robbery is basically a five-step political process: (1) “demagog” FDR and all existing regulations relentlessly as the enemy of free enterprise; (2) use paid lobbyist to help justify, tear-down and then rewrite new regulations; (3) use lobbyists' contributions to buy off the votes of key politicians in both parties to open up the laws for the impending thievery; (4) once legislation is passed, oversee the Wall Street financial casino with watchdogs that do not watch; and then (5) appoint members of the plutocracy who stand to gain the most, as facilitators and the palace guards of policy.

The present system of “high-level state sanctioned grand larceny” was designed and implemented, not by Ronald Reagan, or GW Bush, but by William Jefferson Clinton with the help of none other than the gang of four — Timothy Geitner, Robert Rubin, Alan Greenspan, and Lawrence Summers. However, the unsung hero of the grand heist, was Windy Lee Gramm, senator Phil Gramm's paramour and then wife, (who as a grad student was first his lover and then very quickly his wife). It was this “devious duo” that engineered the plans for the ultimate robbery of the American economic system.

Review (DVD): Robin Hood

5 Star, Crime (Government), Culture, DVD - Light, History, Insurgency & Revolution, Justice (Failure, Reform), Leadership, Peace, Poverty, & Middle Class, Reviews (DVD Only), Threats (Emerging & Perennial), Values, Ethics, Sustainable Evolution
Amazon Page

5.0 out of 5 stars Righteous, Timely, Absorbing

December 4, 2010

I like the first and most popular review by the scholar. Here I will provide a snap-shot of my own and a couple of quotations from a rather good wikipedia review of Thoreau.

The film was longer, better, and had more stars than I expected, including William Hurt. Triteness was avoided. Above all, this movie is righteous and timely as we contemplate the present situation.

From Wikipedia on Thoreau:

The government, according to Thoreau, is not just a little corrupt or unjust in the course of doing its otherwise-important work, but in fact the government is primarily an agent of corruption and injustice. Because of this, it is “not too soon for honest men to rebel and revolutionize.”

Under a government which imprisons any unjustly, the true place for a just man is also a prison…. where the State places those who are not with her, but against her,- the only house in a slave State in which a free man can abide with honor…. Cast your whole vote, not a strip of paper merely, but your whole influence.

The movie ends where I expected to begin. And now America begins anew, with a convergence of forces in 2012, where I had hoped it might end with peace and prosperity for all. The fight has only now begun as the public has awakened to the injustices done at our expense and in our name.

RIGHTEOUS.

Here are two lists of lists of summary reviews of non-fiction work that bears on the current and future nature of the world. Both are at Phi Beta Iota the Public Intelligence Blog under REVIEWS.

Worth a Look: Book Review Lists (Positive)

Worth a Look: Book Review Lists (Negative)

Down at the bottom of the middle column I also have 116 DVD reviews for smart people that dislike run of the mill fare.

Vote and/or Comment on Review

Review (Guest): Failure of Intelligence–The Decline and Fall of the CIA

5 Star, Atrocities & Genocide, Congress (Failure, Reform), Crime (Government), Culture, Research, Empire, Sorrows, Hubris, Blowback, Executive (Partisan Failure, Reform), Intelligence (Government/Secret), Misinformation & Propaganda, Politics, Power (Pathologies & Utilization), Public Administration, Secrecy & Politics of Secrecy
Amazon Page

Mel Goodman

5.0 out of 5 stars Tough Love for CIA, March 6, 2008<

Retired Reader (New Mexico) – See all my reviews

This is an astonishingly well balanced book that while deeply critical of CIA and its senior management also credits its strengths and successes. The author, Melvin Goodman, spent some 34 years as an analyst within the Directorate of Intelligence (DI) of CIA. His principal criticism is that CIA directors in collusion with the executive branch have routinely politicized not merely intelligence products, but the very processes of research and analysis basic to intelligence production. He further argues that most intelligence `failures' can be traced to the practice of far too many at CIA to distort the intelligence process to support policy decisions and even to suppress sound, contrary intelligence. He also sees the growing `militarization' of the U.S. Intelligence System as further evidence that the Intelligence Community (IC) is moving from producing objective and accurate intelligence to producing intelligence that supports the ideologies and prejudices of its masters.

Goodman supports his argument with a remarkably detailed chronicle of CIA intelligence production over the last 35 years. This chronology emphasizes those instances where political pressure and the need to support a particular point of view took precedence over the need to produce accurate intelligence. Also, although he doesn't say so directly, he demonstrates the truth that intelligence is only as good as the system it serves. Unlike so many books on intelligence, this book actually identifies both the good guys and the bad .guys of CIA over the years. In particular he has a fascinating analysis of CIA Directors from Bill Casey (1980-1986) onward that is quite devastating. Although his principal target is the deleterious effect of the politicization and militarization of intelligence, he also effectively criticizes CIA's analytic and clandestine tradecraft.

This is an absolutely important critique of the course of CIA and by extension the entire U.S. Intelligence Community. However, given the controversial claims made by Goodman and the fact he actually names his heroes and villains, the reader might ask does he really know what he is talking about? In this reviewer's opinion, the answer is yes he does. Having been personally involved in a number of specific intelligence events that he chronicles, this reviewer would argue that Goodman has accurately described them. This is a book that ought to guide any effort to reform the U.S. Intelligence System.

Vote and/or Comment on Review

Review: The Two Trillion Dollar Meltdown–Easy Money, High Rollers, and the Great Credit Crash

5 Star, America (Founders, Current Situation), Atrocities & Genocide, Capitalism (Good & Bad), Complexity & Catastrophe, Congress (Failure, Reform), Corruption, Crime (Corporate), Crime (Government), Culture, Research, Executive (Partisan Failure, Reform), Impeachment & Treason, Intelligence (Commercial), Intelligence (Public), Misinformation & Propaganda, Nature, Diet, Memetics, Design, Peace, Poverty, & Middle Class, Philosophy, Politics, Power (Pathologies & Utilization), Priorities, Secession & Nullification, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial), Values, Ethics, Sustainable Evolution, Voices Lost (Indigenous, Gender, Poor, Marginalized), Water, Energy, Oil, Scarcity
Amazon Page

Charles R. Morris

5.0 out of 5 stars Forward to Future of Capitalism and GRIFTOPIA

November 8, 2010

This book was flagged to my attention in the Comments section of my own review of Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America, where my review includes the following quote that I share here:

QUOTE (32): What has taken place over the last generation is a highly complicated merger of crime and policy, of stealing and government. Far from taking care of the rest of us, the financial leaders of America and their political servants have seemingly reached the cynical conclusion that our society is not work saving and have taken on a new mission that involved not creating wealth for us all, but simply absconding with whatever wealth remains in our hollowed out economy. They don't feed us, we feed them.

I defer to the other reviewers on the substance of the book, but want to provide links here to several books that address the larger context of the soul of capitalism and the corruption of the two political parties that have undermined the US Government and US economy with malice aforethought.

Capitalism:
The Battle for the Soul of Capitalism
The Betrayal of American Prosperity: Free Market Delusions, America's Decline, and How We Must Compete in the Post-Dollar Era
The Soul of Capitalism: Opening Paths to a Moral Economy
The Genius of the Beast: A Radical Re-Vision of Capitalism

Corrupt Two-Party Tyranny
Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It
Grand Illusion: The Myth of Voter Choice in a Two-Party Tyranny
Election 2008: Lipstick on the Pig (Substance of Governance; Legitimate Grievances; Candidates on the Issues; Balanced Budget 101; Call to Arms: Fund We Not Them; Annotated Bibliography)
The Broken Branch: How Congress Is Failing America and How to Get It Back on Track (Institutions of American Democracy)
Breach of Trust: How Washington Turns Outsiders Into Insiders

I am blogging twice a week at Huffington Post on what a Virtual Cabinet doing sane evidence-driven policies in the context of a balanced responsible budget might look like, and would welcome visits there by those interested in getting back to honest government and responsible capitalism.

Review: Griftopia–Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

6 Star Top 10%, America (Founders, Current Situation), Atrocities & Genocide, Banks, Fed, Money, & Concentrated Wealth, Capitalism (Good & Bad), Civil Society, Complexity & Catastrophe, Congress (Failure, Reform), Corruption, Crime (Corporate), Crime (Government), Economics, Intelligence (Public), Misinformation & Propaganda, Peace, Poverty, & Middle Class, Power (Pathologies & Utilization), Public Administration, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial), True Cost & Toxicity, Voices Lost (Indigenous, Gender, Poor, Marginalized), Water, Energy, Oil, Scarcity
Amazon Page

Matt Taibbi

5.0 out of 5 stars 6 Star Game Changer….Maybe

November 2, 2010

This is an extraordinary book, combining gifted insights and turns of phrase with serious research that has a point worth fighting for: Wall Street led by Goldman Sachs has ripped off the entire US economy, and they still have most people thinking that politics matters.

It merits comment that while Michael Lewis was first, with Liar's Poker, and was recently quoted as saying he had no idea Wall Street would get away with these obvious high crimes against the public for another 30 years, this author takes us all up another level, weaving in everything–politics, culture, sex, booze, LSD, and the occasional rabbid racoon.

The author is especially deft at observing, documenting, and describing the combination of lunatic ignorance and blessed righteous anger within the Tea Party, at the same time that he points out they have no idea that they have been funded and directed by the very people who have stolen their economy out from under them.

I am especially impressed by the author's understanding of how Wall Street has managed to co-opt the very people they are destroying by leveraging the “shared” view of excessive government regulation. I for one absolutely believe that states should start nullifying federal laws and regulations that impair state-based businesses (e.g. butchers and cabinet-makers). What the people being destroyed do not understand is HOW they are being destroyed by Wall Street, which is essentially eating out the foundation from under them.

QUOTE (32): What has taken place over the last generation is a highly complicated merger of crime and policy, of stealing and government. Far from taking care of the rest of us, the financial leaders of America and their political servants have seemingly reached the cynical conclusion that our society is not work saving and have taken on a new mission that involved not creating wealth for us all, but simply absconding with whatever wealth remains in our hollowed out economy. They don't feed us, we feed them.

Continue reading “Review: Griftopia–Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America”