Category Archives: economy

The final steps in the Great Taking.

You might not have noticed, especially in light of the relentless drivel put out by the mainstream media in an effort to distract you, but the oligarchs have entered the final stages in their efforts to own and control everything and leave the rest of us living like serfs in some bleak rerun of the feudal ages.  Trump, it turns out, is the perfect vehicle for this purpose and is all too willing to aid the wealthy – of every country, not just the US – to strip the commons bare and set us against each other.  The man is inherently stupid, barely literate, easily manipulated, venal to a remarkable degree, and extraordinarily greedy.  He is also a vicious shit – never discount that part of his makeup.  He and his family are daily making personal profit from his position and it would be laughably simple to show that he is running afoul of the emoluments clause of the Constitution.  In fact, the photogenic new ruling prince of Saudi Arabia is currently making the rounds of American glitterati, boasting that Jared Kushner gave him classified information in exchange for promises of loans, information which let the prince know who his enemies were in the old regime so he could imprison them and snatch leadership for himself.  [See Note 1.]  Now, anyone who thinks the Trump/Kushner family would never use their security clearances for personal gain must not have taken even a passing gander at the members of this grifting lot.  However, neither party in Congress will ever broach the topic of emoluments, as they share the same basic goals as Trump; and these goals happen to be the ones that the oligarchs, the wealthy, and the corporate cartels demand be fulfilled.  Trump is getting them there, hence Trump will not be escorted off stage.  Congress will not stand up for the people because they simply do not see the public as their employers.  They will not serve the best interests of the people, whom they loathe and largely view as a nuisance.  I cannot understand writers who propose the notion that Trump is “being used against his will” (by the military industrial complex/the CIA/the powers behind the curtain who have threatened him and are making him do these things) or that he is not to be blamed because he is “no different” than the last couple of presidents.  While it’s true that he is a continuation of the trajectory, he cannot be held innocent of the results of his actions, which he takes voluntarily.  It is irrational to suggest that he has some fundamental disagreement with his own policies.

All that being said, we must remember that the choice offered to the US in 2016 was between the uncouth imbecile named Trump and the neoliberal, bloodthirsty Hillary Clinton.  The Clinton Foundation, which was allowed to rake in international donations while she was Secretary of State, would no doubt have continued operations had she won the presidency.  Clinton made it clear that she had no interest in public spending, calling reduced college tuition and universal healthcare ‘unreasonable dreams’.  She also constantly beat the war drums, and has long called for direct aggression against Russia, China and Iran.  She was the architect for the invasion and destruction of Libya, a crime that should have taken her and Obama straight to the Hague.  Everything I write about Trump, his family, and his administration could just as easily pertain to a Clinton regime; just swap out a few names.  In rough figures, 25% of the eligible voters chose Trump and 25% chose Clinton.  Half the eligible voters did not vote at all.  I think the 50% who stayed home took the best position.  There was no point in endorsing the electoral farce that was imposed on the public in the last election.

Trump will be the face of the empire for awhile.  It is important to both hold him accountable for his time in office and at the same moment understand that he is just the latest iteration spewed out from the maw of a plutocratic power structure that has no national borders. And so I when I write using particular names, remember that the names are easily interchangeable with others.

We are told by Trump, the media and Congress that we need to bomb Syria even more often, using bigger weapons, because al Assad has supposedly just gassed some of his own people again.  We are expected to believe that immediately after Trump announced he wants the US out of Syria, the cagey Assad staged an assault on civilians in Syrian order to lure us into the perpetual bombing of his country and that what he most desires is eternal US interference with his domestic affairs. The whole story makes no sense.  No investigation has taken place, no proof of blame has been offered, but just as in the lead-up to the Iraq war, we are given a tale where the ending is already assumed.  The media must bear much of the blame for this.  The “reporters” who refuse to investigate the truth, who make a deliberate choice to air whatever bullshit line is fed to them by the oligarchic warmongers, are collaborating with powers that will end up killing us all.  There is no excuse for this – none.  We have communication networks such as the internet and phone systems that allow information to travel globally and that are easily accessed.  It is only the desire for personal gain that prods media personalities to repeat prepared lines rather than ferreting out the truth.

We are told by Trump, the media, and Congress that we should bomb North Korea because they might have nuclear weapons.  No-one can say how it is that the US gets to decide who has nukes or how it happens that the US can arbitrarily take military action against the other countries that are developing them.  Those precepts are just taken as a given.  Trump is going to a) have Kim Jong-un assassinated, b) preemptively nuke North Korea, c) negotiate with North Korea, d) let South Korea negotiate with North Korea, e) let South Korea engage in talks but then scuttle any resulting agreements, or f) do nothing, and hope Kim keeps his fat mouth shut for awhile until we decide which country to bomb next and that may or may not be North Korea.  Most likely answer is f, because Syria, Iran and the dread Russia also need to be taken out and it is unclear at this point in which order we will proceed.  Economic demands require a new blood infusion, however, so some country or another is going to get it.  And any provocation, no matter how obvious a false flag it is, will be used to wag that dog.

In the meantime, our own country is being stripped bare.  Trump and both houses of Congress are racing as swiftly as possible to ruin the environment, pollute the water and air, give tax cuts to the wealthy, use almost all tax monies to bloat the Pentagon while any spending on the actual population is wiped out.  We are told by Trump, the media, and Congress that this is a good thing, a necessary thing.  Barack Obama, we are told, was not pro-military enough and “decimated” our military forces.  Yet Obama shut not a one of those 900+ bases we have around the world, he sent the military into even more countries than we were already interfering with when he took office, he greatly intensified the drone-bombing of multiple other countries, and he consistently increased the Pentagon’s budget year over year.  It was Obama who signed into law the first NDAA that authorized a president to assassinate even American citizens at his personal discretion, and he signed all subsequent NDAAs, each of which included that same clause.  That anyone on the planet believes the crap that Obama was not militant enough is proof that propaganda works and that the cheese has totally slid off our crackers.

Congress managed to pass a tax cut scam that so blatently engorges the coffers of the already wealthy and the biggest corporations that the fact that it didn’t, by itself, lead to a revolt is astonishing.  Those fuckers just openly passed a bill that adds to the “deficit” (a deficit which only exists because the US created the Federal Reserve and dropped the gold standard, choosing to let private banks create money that is loaned to the government at interest).  The same tax bill brazenly doubles down on the now-proven nonsensical trope of trickle-down supply-side economics.  They are already telling us that Medicare, Medicaid and Social Security will have to be slashed in order to pay for this nasty piece of lobbyist-written work, despite the fact that the bill itself already cuts half a trillion dollars from Medicare over the next ten years.

But the Democrats were too busy talking about the DACA kids at that juncture to spend much time talking about the goodies in the tax scam.  It was a peculiar choice of sticking points, given that the Democrats had ample opportunity to address that issue when they were in the majority under Obama and they had exactly zero interest in addressing it then.  Bringing up the topic of DACA was a ruse to obfuscate the fact that the Democrats really had few objections to the tax bill; in fact, the Democrats enthusiastically supported cutting corporate taxes, as they were quick to point out.  Few details of the tax bill were were discussed publicly by either party.  There can be no doubt that this was done intentionally with bipartisan cooperation; let us not forget that it was under Obama’s first term that he and the Democrats brought into being the “cat food commission”, whose job it was to look into ways to cut the so-called “entitlement” programs.  The commission was disbanded because the public wasn’t quite ripe enough to pluck yet, but the thinking never went away.  Now is the propitious time, obviously; they have managed to brainwash the public into believing, with the sure conviction of the new convert, that any money spent on themselves is money spent foolishly.

One of the overlooked details is this (and this is the only detail I am going to get into right now): there is a clause in the tax bill that switches the way inflation is measured from the current Consumer Price Index (CPI) to a “chained” CPI. The measure of inflation is used as a determinant for figuring tax rates, social security payments to retirees, funding for programs such as Medicaid, Headstart, food stamps, etc. Right now, the government uses a variety of indices in its CPI figures and the official inflation rate is kind of a mixed bag of several of them. By switching to a “chained” CPI, inflation is artificially held to a lower number; for instance, the “chained” CPI carries an assumption that if the price of beef goes up, people might buy chicken instead.  That might be a reasonable assumption, although eventually one runs out of substitutes. I mean, if the price of chicken goes up next, they assume people will buy oatmeal instead. Eventually, they are assuming we are all eating grass. You see how that works. The “chained” CPI even goes so far as to offer this substitution model for dissimilar items: if the price of food goes up, the assumption is that people will cut back on buying heating oil. Presto-change-o, the consumer has not suffered from an increase in inflation!

The government publishes both the traditional and the “chained” CPI numbers every month now, and one can see that the “chained” CPI numbers suspiciously do not include some common household expenses, such as housing costs. I can only assume this is because the price of renting or buying a home has grown so preposterous since ’08 that it would completely wipe out the official mantra that there is no inflation.

By using the “chained” CPI, Congress is already chipping away at retiree income, social programs, and raising the tax rate on lower-income workers. They don’t have to openly attack SS, for example; simply by switching how they measure inflation, they are using a back-door method to reduce benefits.  Not one single Democrat issued any statement, much less any objection, to this clause in the Republican’s tax plan.  Slowing those SS benefit increases would save around $125 billion over a decade, without the political pain of cutting benefits directly or raising the access age.  The Republicans didn’t have to specify they want to cut Social Security or Medicare. They just did so, and with a tool the Democrats won’t ever repeal.  It’s brilliant, if you admire that sort of cynical maneuver.  These misanthropes are ruthless.

The omnibus spending bill that was passed most recently is equally odious, although no objections were raised by anyone except the strange occupants of the farthest right fringe, who are repulsed by having to share even the oxygen in the room with what they consider the underachieving.  The Democrats helped to pass that bill, giving as their excuses the military, which has to be supported at all costs and thank God this bill does that plus some, and that a few little coins were kept in there for some public programs.  Never fear, however; Trump and the Republicans are working on a plan to get rid of some of the ruinous public spending that accidentally got included, and I am sure the Democrats are breathing a sigh of relief that they don’t have to do anything to fight it, as it doesn’t depend on their involvement at all.  Their civic affectations are not bearing up well under scrutiny, anyway; best to lay low for awhile.  And forget any minor Republican insurgency that might serve as opposition against this latest plan – Republicans have no pretense of community responsibility to maintain.

Let’s go back to a month ago when Gary Cohn, Trump’s chief economic advisor, announced his resignation after Trump’s decision to impose tariffs on aluminum and steel, a trade war measure that Cohn opposed.  (By the way, in another example of misuse of office, Ivanka Trump’s clothing line is exempt from the latest batch of tariffs, imposed on China.  The White House explains that this is simply a happy accident of the algorithm they used to decide what items to include or exempt from the tariffs . That right there is what you might call a “lie”. [See Note 2.])   Cohn had gotten what he came for: the tax cuts for the wealthy and big business. Of course, that tax bill will end up ruining the economy and decimating the working class, but what’s that matter to someone like Cohn?  It was interesting to see one of the really big confidence men bailing out at this juncture; one might speculate that Cohn knows there is going to be some bad economic news headed our way and wants to be well out before the stink sticks to him (too late, Goldman Sachs dude).  Cohn was replaced by Larry Kudlow, a CNBC talking head, who is best known as a reformed coke-head and a fool who has the amazing ability to be wrong on everything remotely related to money, yet still manages to find a job in front of a camera opining on economic matters.  Being a blithering idiot, he was the most obvious choice to advise the current administration on financial policies, and has actually been doing so behind the scenes since Trump announced his candidacy.  He hates the “giveaways” to the mere commoners in the budget bill (as does Trump, who almost didn’t sign the thing because of them) and has begun touting a little-known method to weed these repugnant items out of the law post ipso facto.   The Republicans can use something called the Impoundment Act, which was written and passed in 1974.  This Act allows the president to rescind (i.e., retroactively erase) funds that have already been approved by Congress.  I had never heard of this before, although it was used under Nixon, Reagan, Clinton, and Bush a couple of times.  Amazing to find out about the voluminous ways Congress has gone about side-stepping the Constitution over the years.  In any case, Trump can target up to $117 billion – the difference between his request for domestic non-defense spending and the level that was actually included in it.  If he chooses to employ it, he would propose the items and amounts he wants cut, and Congress has 45 days after his proposal to approve the package.  The vote would be a simple majority vote, meaning the Republicans don’t need any Democratic support to alter federal spending more to their liking.

Non-defense spending is a relatively small portion of overall spending; the non-defense discretionary budget only accounted for roughly 15% of all federal spending in 2017.  However, this portion of the budget is the part that Trump has the ability to cut through impoundment.  He has suggested many of the programs he would like to eliminate before now, so his list will not surprise anyone if and when he comes out with it.  Since he has objected to the following items before, and has already stated he wants to save money (that was given away with the tax bill, one might note) by cutting them from the 2019 budget, the proposed programs to be rescinded might look something like this, just for starters:

• The Low Income Home Energy Assistance Program or LIHEAP ($3.4 billion in one-year savings)
• International financial assistance for global climate change initiatives ($160 million)
• Funding for the Corporation for Public Broadcasting ($480 million)
• Department of Housing and Urban Development Community Development Block Grants ($3 billion)
He also proposed cutting:
• Amtrak grants by $757 million
• HUD rental Assistance Programs by $4.2 billion
• The Federal Work Study program by $790 million
• State Department Educational and Cultural Exchange programs $475

The above details about the CPI and the Impoundment Act are but small samples of the general trend against the best interests of the people who live here in the US that has been ongoing for a generation now.  Of much wider import are the greatly accelerated attacks on the environment and food systems.  The choices made by the Trump administration are disastrous, but let’s not pretend that the previous administrations were exactly safeguarding the health of the planet, much less that of the people who live on her.  These are issues where the media and Congress again refuse to speak up, and yet, like the relentless drive to more war, will end up killing us.  We are letting the oil companies frack the entire country and the surrounding bodies of water, which is causing oil spills, earthquakes, and a constant infiltration of fracking chemicals into our water.  A four thousand square mile area of Texas is heaving and sinking due to oil extraction activity, and this is in an area of the country where our government decided it would be a good idea to bury nuclear waste.  The Pentagon is working on a plan to genetically alter some forms of sea life so as to use them for military purposes.  One third of all American wildlife species are headed for extinction.  The mega corporations Bayer and Monsanto are seeking to merge into one company, which will make them for all intents and purposes the owner of almost all the seed stock and much of the cropland on the planet.  The EU has already approved the merger, and the Trump administration is expected to do the same.  These two companies have worked in tandem for several decades now and have been allowed to poison the world with pesticides and chemicals, destroy native seed stocks in order to replace them with genetically modified “food” crops, and drive farmers across the globe out of business.  Monsanto, in particular, has been the recipient of financial backing and unceasing efforts to make it the primary food source in every country from people like the Clintons, Bill Gates, and Pierre Omidyar.  [For links to articles on all these topics, see Note 3.]

We have to do better than this.  We have to learn how to turn off the constant propaganda that incites us to hate one another and keeps us cheering for the slaughter of some group or another of strangers across the planet.  We have to take care of this planet and of each other.  It doesn’t matter what name you call it, what “ism” it goes by, but there is a societal system that works better for us all than capitalism.  And there are better people around than the oligarchy that wants to control our every move, spy on our every communication, and drive us to some final dismal destruction of ourselves.  We really are all stardust, and we need to regard each other and our fellow creatures with the respect and admiration that our common origin deserves.  For despite the humble beginnings of life on earth which arose accidentally from the dust of the cosmos, that dust formed a myriad of life-forms, all intrinsically related and yet each wonderfully different.

About two weeks ago, I was thinking about this turning point in our history and realized that it is somewhat comparative to that of Louis XVI of France in a couple of ways.  He (Louis XVI) announced he wanted to do away with serfdom as a “populist” reform measure, an idea which pissed off the nobles; in the end he listened to the wealthy and gave up the notion, thus abandoning the lower classes who had thought he would usher in a new era.  Then he deregulated the grain market, sending bread prices soaring (turns out deregulation has a very long history of being bad for the working class).  Then he decided to support the colonists (in what would become the US) in their fight against Great Britain and this took France into debt and dire financial straits (turns out getting involved in other people’s wars has a very long history of being a bad fiscal idea and bad for the working class).  His indecisiveness and waffling, which always seemed to end up with him supporting the nobility, erased all the popularity he had once enjoyed.  In an effort to bolster support for himself, he considered starting some new invasive wars, but as it happened, the public didn’t particularly find this a compelling sales pitch when they found out about the scheme.

Finally, the people rose up and took his head.

And then France embarked on a decade of wars anyway, which flowed seamlessly into the Napoleonic Wars, which lasted until 1815 – all told, 23 years of continuous warfare with multiple countries on several continents after Louis XVI was beheaded (turns out humans have a very long history of stupidity and apparently a genetic defect that leads them to kill each other with abandon and glee on a constant basis).  So… vive la revolution, etc., but beware what follows?  We better chose more carefully this time.  I will repeat the sentence with which I started this blog so many years ago:  Be a good human.

(I was tickled by the synchronicity, if you will, of hearing Richard Wolff, just five days ago, mention the same bit of history in the following discussion between him and Chris Hedges regarding the coming collapse of the American capitalist system.  The following video is about half an hour long, and certainly worth the time.)

Economist Richard Wolff discusses the coming economic collapse of the United States of America with Chris Hedges.


Note 1:

Saudi crown prince Mohammed bin Salman bragged of receiving classified US intelligence from Jared Kushner and using it as part of a purge of ‘corrupt’ princes and businessmen, can disclose. […]

Note 2: The justification for the tariffs on the grounds of national security is a fiction created by Trump in order to apply the tariffs. US law allows the President to impose tariffs unilaterally for reasons of national security, but the trade arguments going on right now certainly don’t rise to that level.  Furthermore, the areas in which we are accusing China of malfeasance are already being arbitrated in the World Trade Organization; there is no reason for other actions at this point.  Aside from the claim of dire national security issues, tariffs can only be applied by Congress and Trump knows that won’t happen. This is an abrogation of power by the President and should be opposed for that reason alone.

[…] Many of the products branded by Ivanka Trump’s fashion and clothing line are manufactured in China. And China recently approved three new trademarks for Ivanka Trump’s brand there–on the same day she dined with Chinese President Xi Jinping in her official capacity as White House advisor.
Exempting clothing from the new round of U.S. tariffs therefore stands to immensely benefit the value of Ivanka Trump’s personal brand. Meanwhile, domestic clothing manufacturers have cried foul.
In a statement reacting to the tariffs and Trump’s noteworthy exemption for Chinese-produced clothing, Rick Helfenbein, chief executive of industry group the American Apparel & Footwear Association said, “This would directly raise costs on domestic manufacturers and impact our ability to grow Made in USA.”
Law&Crime reached out to Ivanka Trump’s press office for comment, but no response was forthcoming at the time of publication.
And see:

The American Apparel & Footwear Association welcomed the decision by the Trump administration to avoid taxing American consumers by excluding new tariffs on apparel, footwear, travel goods, and related products imported from China.
The association’s President and CEO Rick Helfenbein released the following statement:
“We are pleased with the administration’s decision to avoid adding tariffs to U.S. imports of apparel, footwear, and travel goods from China. Tariffs are a hidden, regressive tax on Americans and such a decision would have had a disastrous impact on American consumers,” said Helfenbein.
“At the same time, we are concerned that the list includes tariffs on machinery used in our domestic manufacturing process. This would directly raise costs on domestic manufacturers and impact our ability to grow Made in USA. We will express these concerns with the administration in the coming days, and look forward to working with them on the core concerns of intellectual property theft and forced technology transfer in China.”[…]


Note 3:  Various articles of interest on the environment, Monsanto, and stardust.

The Pentagon’s Scary Plan to Militarize Ocean Life:


America’s wildlife crisis; one-third of species are vulnerable to extinction, a crisis ravaging swaths of creatures, conservationists say in call to fund recovery plans:





The Bayer-Monsanto Merger Is Bad News for the Planet


Joni Mitchell was right, we really are all stardust:


A quick note on unemployment numbers.

This year, Sears Holdings plans to close 42 Sears stores and 108 Kmart stores, or roughly 10% of their locations. They already closed more than 200 locations in 2016.

Macy’s plans to close 100 stores this year, 68 of them by mid-year. It is eliminating 10,000 jobs. CVS plans to close 70 stores this year. The Limited is closing almost all of its 250 stores, costing 4000 jobs, although it will offer on-line shopping.  Men’s Warehouse/Jos. A Banks is closing 250 stores. Office Depot will close another 300 stores by the end of 2018, after closing 400 stores in recent years. Walmart is closing 269 stores globally this year.

I guess the bottom line is that when you shop on-line, you are costing someone a job.

The labor force participation rate in the US remains at less than 63%. [It stands at 62.7 right now.] The labor force participation rate (LFPR) is the number of able-bodied, job-eligible, people over the age of 18 who either have a job or who are actively looking for a job. The numbers do not include the military, people in prison, those who are disabled, anyone under 18 or anyone over 65. Do note, however, that if you are unemployed, but looking for a job, you are still counted as “participating” in the labor force. Still, the LFPR is doubtless the most accurate picture of how many people are working in a country, since the other ways they use to count employment rates are so absurdly calculated as to completely discount the reports out of hand. For instance, we are told that our current unemployment rate is 4.7. Utterly impossible, given that only 63% of us have jobs or are actively seeking jobs.  I must make a note here that 100% LFPR is not to be desired, either.  Certainly, no country wants a society where everyone works: it would mean that there are no mothers or fathers staying home to raise the children or care for their elderly relatives, for one thing.  It would also imply that living expenses are so high that every single adult has to work to support themselves, as opposed to a society where one wage-earner can support a family on his/her salary.  We used to have that in the United States.  I believe the low LFPR in the 1950’s and 1960’s was a reflection of this desirable situation rather than an indication that there was massive unwanted unemployment.  In other words, one must use some discernment in looking at unemployment rates, no matter where one gets the numbers.  All that being said, let’s just go with the cold LFPR numbers as the accurate indicator of unemployment rates.

If the labor force participation rate is around 63 (i.e., 63% of eligible Americans have jobs), that means that 37% of able-bodied, job-eligible Americans do not have employment.  How does that not translate into a 37% unemployment rate?

Interestingly, I have noted that when the US media reports on unemployment in foreign countries, they use the labor force participation rates exactly as they should be used.  In Greece, the LFPR is 52, meaning that there is a 48% unemployment rate.  The US media therefore reports, usually with dismayed shock, that unemployment in Greece is 48%.  I don’t understand why it is reported accurately in the one case, and not in the other, unless the idea is to obfuscate the true unemployment numbers here in the US. (One might add “duh” here, but that would be unnecessary silliness.)

Also, I can only shake my head when I read mainstream articles that state we have “recovered all the jobs lost” since the start of the recession.  We lost roughly 10 million full-time jobs since ’08 or ’09 and we did replace them with 10 million jobs as of 2015 – all part-time, low-paying jobs – but this does not do anything about the population increase in the meantime.   Touting the equation of jobs gained = jobs lost does not take into account the millions and millions of Americans who came of age during this time frame with no new jobs actually created for them to work at.

By the way, the LFPR for Russia is currently 69.5% (making it equal to Switzerland in the high number of employed people it has).  We beat the participation rate in Ukraine by a mere 0.3% , and they are currently involved in a civil war (thanks to the “indispensable” USA).  We also have a higher employment rate than Afghanistan, Libya, and Iraq – but we kind of inflicted some problems on those countries as well, to say the least.   The US LFPR is lower than Armenia, the Philippines, Colombia, Italy, Ecuador, Latvia, El Salvador, and Malaysia, just to name a few other countries.  We have a lower percentage of employed people in our population than these countries do; think about that. (We also have a lower percentage than North Korea, but then, I think they do forced labor there.)

It’s not quite the “recovery” that occurred after the Great Depression, is it?  Does it even qualify as a recovery if you have fewer people employed now than you did at the start of the “economic downturn”?  We know for shit sure it isn’t because suddenly everyone in the US is so wealthy that they don’t need jobs any more, and we are certainly not in the 1950’s situation at all, where one person could support a household with his one well-paying job.  And still the politicians can’t fathom the disenchantment of the masses.


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Posted by on January 7, 2017 in economy


Trump wins. Thank the Democrats.

Donald Trump has won the 2016 election and the Republicans retain control of both the House and the Senate.  

There is no-one to blame but the Democratic party politicians, the DNC, and their big donors. They had a candidate (actually more than one) who could have beat Trump in a landslide, yet they decided they had to do everything in their power, including rigging the primaries and colluding with the media, to give the nomination to a person so universally despised and so obviously corrupt that she couldn’t beat the carnival barker.  Irony of ironies; as the Clinton and DNC emails prove, the Clinton people were pushing for the nomination of Trump as an opponent because they thought he would be easier for her to beat than any other Republican. The fatal flaw of this plan was that the Democratic machine had been rigging everything in favor of the one person who couldn’t beat anyone with enough of a margin to overcome the insurmountable and peculiar electoral college system we use.  [Although they claim she beat Bernie Sanders, running as a fellow Democrat, in the primaries, the evidence of the DNC rigging the primaries is, well, irrefutable at this point and her nomination was cinched by Sanders’ own and finally obvious collusion in merely playing the sheepdog to deliver his innocent flock over to her.]  

Not only that, but the DNC spent all their money – against the party regulations, by the way – on the Hillary Victory Fund instead of spreading it out to the down-ticket Democrats; as a result, they still have a minority in both the House and the Senate. Not to mention that the only down-ticket Democrats that they supported verbally, if not financially, were nothing but ‘Blue Dog’ sell-outs instead of progressives or liberals. Despite losing the hold they had in both houses of Congress and losing state houses all across the country during the 2014 mid-terms, they didn’t bother with getting out the vote, or bother to deal with gerry-mandering issues, or pay any attention whatsoever to what people were telling them – that the economy sucks, people need jobs, Obamacare is really really bad, wealth disparity is dividing the country, Obama didn’t keep any of his promises and people were pissed about it, and everyone is sick of the “bipartisan compromises” that keep making things worse on the ground.  47 million Americans don’t have enough food to eat.  Fully one-third of eligible working-age Americans do not have jobs.  Social Security benefits continue to get cut or remain stagnant despite the fact that people can see with their own two eyes that food, housing and every other expense they routinely have to pay each month continues to increase in price.  Health insurance costs are so high that a family plan now costs more than the average person earns in 6 months.  Wages are effectively lower than they were 20 years ago.  Although the “family income” level was purred over repeatedly by Obama and Clinton on the campaign trail and touted as a sign of how things have improved under Obama, the fact is that according to the reports themselves, family income has not even risen above the level it was in 1999 – 17 years ago.  This is obfuscated by politicians and media pundits who don’t reveal the actual charts, try to equate “household income” with “personal income”, and who never point out the obvious; family income includes the combined incomes of all members of a family living in one household, and we now have the highest number of adult children living with their parents than at any time in our history.  Even if all they have is some measly part-time job at McDonald’s, these young adults contribute to that “household income” number.  Which, despite 1/3 of Americans under the age of 30 having to live with Mommy and Daddy, is still lower than than it was 17 fucking years ago.

I’m just amazed that the political grifters weren’t able to pull off the final fake-out and simply make up the election results like they do the unemployment numbers, economic measurements, or poll numbers and just claim Clinton won; on the other hand, it should occur to everyone that perhaps Trump is just as acceptable to the plutocracy as she is.  Maybe it’s that easy to figure out why they didn’t bother to rig the election – either candidate suffices to get the powers-that-be where they want to be; in total control of all the commons and all the wealth, and so they let the general election play out without interference.   Hell, maybe they did rig it, but didn’t go far enough, underestimating the numbers they needed.  Or – here’s a conspiracy theory for you – maybe Clinton’s health really is so bad that they realized, too late, that they couldn’t let her take office.  It strikes me as odd that she conceded before Trump had officially hit the magic 270 number in the electoral count and well before all the popular votes were in, especially given her determined, bullish, self-righteous pursuit of the office for so many long years.  Or perhaps the investigations into the Clinton Foundation are showing indications that criminal charges are forthcoming; the FBI has not ended those investigations, after all.  However, that will be taken care of by Obama preemptively pardoning Clinton before he leaves the White House so that no charges can ever be filed and the Clinton Foundation’s felonious enterprise will never be publicly exposed.  Perhaps the electoral college will not vote the way it is pledged to, in the end, and Clinton has been told to expect this.  She actually has won the popular vote, after all.  The electoral college does not cast its official vote until Dec. 19.  Supposedly, the electors have to vote the way they are pledged, but they may be convinced to test the system this time on behalf of “DNC primary super-delegate winner” Clinton.  Maybe this election has yet other surprises in store.

The country could have gone either way – more liberal or more conservative – in its presidential decision.  As the results of various ballot measures across the country prove, our societal tendency as a whole is clearly toward the liberal side.  The voters approved measures for legalized marijuana and increased minimum wages in state after state, for example.  It’s the politicians who are trending ever further right.  The Democratic party refused to encourage this social trending and instead offered the most right-wing Democrats they could find.  The voters repudiated that; unfortunately, having been abandoned by the Democrats, voting for Republicans was the only way to voice their discontent.  It wasn’t so much a choice for the conservatives as an un-choosing of the status quo.  In fact, the Republican party can only claim somewhere between 25 and 30% of the voting public as its base.  Clinton, Obama, and her other spokesmen were out there on the campaign trail, however, praising Ronald Reagan, Henry Kissinger, and Madeleine Albright, for God’s sake.  The Republican big-wigs supported Clinton, as did all the neocons and neoliberals.  She talked about the need for more wars (with Iran, China, and Russia, God help us all) and more Pentagon spending, and the only mention made of liberal ideas were to dismiss them as things that might  be “worked out eventually in a bipartisan fashion”.  It all made anything she said about “supporting progressive promises” and “Democratic ideals” look so phony that, in the end, nobody could believe a damn word of it.  I guarantee you, if the Democrats had run seriously progressive candidates and responded to, heeded the message of, the massive support Sanders got and what it implied, this election would have ended differently. It’s too bad, because Trump’s trickle-down economic ideas won’t do a damned thing for any but the wealthiest Americans and corporate cartels, but the people responded at a gut level. They found him to be authentic in his strange, but ultimately Ayn Randian way, and intuitively knew Clinton was a liar, a warmonger and a Wall Street stooge.  Going with their gut feelings was all they had; the billionaires, corporate elites, whorish media, and political parties have finally managed to so dumb down and confuse the population that all the people had left was unfiltered, inchoate anger and primal survival instinct.  They tossed a Hail Mary pass for the one they felt was at least a political outsider, driven by the devil’s bargain that had been foisted on them by party elites.

I think we are going to lose our Social Security, Medicare, unemployment and food stamps benefits no matter who had won, as both parties have been colluding to that end since Bill Clinton was in office.  Obama formed his “catfood commission” as one of the first things he did during his first term, if you’ll recall.  When Obama took office in 2008, he had a Democratic majority in both houses.  And yet he utterly failed to implement any of the progressive platforms he had run on, instead squandering the opportunity (with no objection from the Democrats in either house, mind you) to end torture, take action against the Bush regime, close Guantanamo Bay, end the wars in Iraq and Afghanistan, punish the Wall Street bankers who crashed the economy, or push for universal health-care.  He brought in Timmeh Geithner and other Goldman Sachs men to run the Treasury and immediately assigned Monsanto people to run the FDA and the USDA, granted permits for even more deep-water drilling, and named a charter-schools promoter to run the Dept. of Education.  Within a few years, he had signed the NDAA giving him the ability to assassinate anyone he chose anywhere on the planet (Trump may love that presidential perq), and expanded our illegal “war zone” to seven countries.  Like the Syriza Party in Greece, Obama and the Democrats took office with false promises and immediately handed the country over to everything the people thought they were voting against.  We were given the discipline of austerity measures, a health “reform” that gave exponentially more profits to the private insurers and pharmaceutical companies, and exposed to the quackery of the Federal Reserve programs.  It is guaranteed that now, at this late date and with the Republicans in charge of both houses and the presidency, there will be no re-regulation of Wall Street, all our tax monies will continue to feed the Pentagon, big corporations will still get governmental subsidies while raking in record profits, there will not be an end to the toxic shit dumped into the water and food, every state will be fracked, and every politician in Washington will continue to ignore the wishes of the people who voted them into office.  Here’s the thing: we weren’t going to get anything good out of this election anyway.  You might not have noticed, but neither party talked about actual policies they might implement.  The media never asked questions along those lines, either.  Climate change was never mentioned in the debates, nor the militarization of the police, nor the legality of the US bombing  multiple countries, none of with whom we are legally at war .  Likewise ignored was civil asset forfeiture, NSA spying, and all the other losses of our civil liberties over the years.  Despite Trump’s promises, the House and Senate won’t spend a dime on infrastructure, jobs, or education, and for sure, climate change or environmental issues are completely dead in the water now (those being not even mentioned by Trump), but at least there isn’t going to be any pretense about who both parties of Congress serve any more. And it isn’t the people of the United States; it’s the plutocracy.  Desperate Trump supporters and the die-hard Clinton supporters may not have figured that out yet, and may never; for we are a supremely fact-free and stupid society now.  

[As an aside, I have to mention that Clinton didn’t even bother to address her faithful in person last night.  She phoned in her concession to Trump, had someone announce to the media that she’d speak publicly in the morning, and just left all those Clinton people deserted in the hall where they’d gathered in the assumption that win or lose, she’d at least grace them with her presence.  She didn’t spare a minute for them, however.  All those sad Clinton supporters, mourning the fact that their very own Caligula had lost the election, were left to catch some rest as best they could in their folding chairs until around noon today, when she gave her official concession speech.  I watched that event live when it occurred.  She had the unmitigated nerve to blather on about how the US “treats everyone equally under the law” and about how “the Constitution” and “rule of law” guides us all and makes us such a great country.  Much to my surprise, a bolt of lightening did not come down from the heavens and strike her dead.]

But whatever happens from here on out, put the blame where it belongs: on the Democrats, who insisted that it was the criminal War-pig’s “turn”, no matter what the voters were saying they wanted.  As it turns out, the fact that she pees sitting down wasn’t a big selling point, and that was the only card they had to play.  What’s the old saying?  Democrats stab you in the back, Republicans stab you in the front.  The Democrats sold us out gradually over the years; from Bill Clinton’s time in office onwards, they turned ever more rightward, leaving behind and deserting the civil rights movement, the peace movement, the unions, and the idea that our society and commons should be the primary recipients of taxpayer monies.  We were at a turning point with this election.  We could have gone more toward the right or toward the left in this choice, as I said.  We had candidates who were clearly more to the left of Clinton, candidates who were kept as hidden as possible by the collaboration of the media and the political parties until it was too late, and the left was deserted.  The Democratic power machine deliberately chose to take the rightward lean, they deliberately chose to ignore what their voter base wanted, and in so doing, deliberately threw away a chance to nudge our society ever closer toward true equality and social uplift.  We will pay the price for a long time and the price will be heavy.  



Notes on the TPP.

The TPP was written in complete secrecy by corporate CEOs and their lawyers, along with official governmental trade negotiators, over a five year period. The trade negotiator for the US is Michael Froman. He served in the Treasury Dept under Bob Rubin within the Clinton administration, during which time the Glass-Steagall Act was overturned, leading directly to the conditions giving rise to the economic meltdown years later.  After that gig, he and Rubin both went to work for Citigroup (big bank and hedge fund a-go-go). In 2013, he became our trade negotiator. I mention this because it’s relevant that our trade negotiator is a big bank guy who worked for one of the banks that helped tank the economy in ’08.

Obama signed the TPP in Feb. this year, as did all the leaders of the 12 signatory nations. None of them, however, has gotten the deal ratified in their countries yet; i.e., the TPP has not been passed through the parliaments or Congresses of any of the 12 nations yet and so has not legally gone into effect.

They have 2 years to ratify the TPP. If it isn’t ratified by Feb 2018, they can put it into force with only 6 countries participating, if the GDP of those 6 countries combined equals 85% of the GDP of the original 12 countries.

The TPP includes an ISDS [investor-state dispute settlement] mechanism. This clause allows a company to sue a treaty-participating country for monetary damages if local laws affect their business. It does not allow them to make changes to local laws, but it does allow them to sue a government for “damages”. The ISDS is run by a tribunal of 3 judges: all of whom are corporate heads, chosen by a panel of big corporations. It has been pointed out that previous trade agreements with an ISDS clause have pushed participating countries to loosen environmental and labor regulations in an effort to preemptively stave off potential lawsuits under ISDS, thus inherently influencing which laws are passed or altered by signatory countries.  It is the ISDS that ensures an end to our national sovereignty, as if the TPP even without it, weren’t bad enough. Any member of Congress that votes yes for this trade agreement and the president that signs it into law is committing treason, in my opinion.

While the ISDS clause cannot forcibly change US laws, some US laws will need to be changed in order to comply with the TPP itself. Obama had the duty (signed into law with the passage of the “Fast-track” bill; aka the Trade Promotion Authority or TPA) of working with the heads of the various US agencies (Dept of Ag, Commerce Dept, Treasury Dept, OSHA, etc.) to create a list of which laws would need to be altered, and to present this list to Congress at the same time the TPP is formally presented to them for vote. Obama signed an executive order in July handing this duty over to Michael Froman (our trade representative). We will find out what laws have been changed if/when Congress votes yes on the TPP. Congress can only vote ‘yes’ or ‘no’ on the TPP and its attached list of regulatory changes; they are not allowed to amend, filibuster, debate, add to, delete from, or alter any text at all.

Which means that any politician (like Hillary Clinton and Harry Reid) who suggests that the TPP can “be improved” by Congress before it is passed is lying through his teeth. Congress cannot change a word of the TPP. Any improvements that Congress might want to suggest before they would pass the damned thing would necessitate the renegotiation of the agreement with the other countries. (Congress cannot amend the text themselves, but they might, behind the scene so to speak, suggest changes that would ensure passage.) In other words, if Congress says they want x,y, or z clauses to be changed, the TPP has to be re-presented to all the countries with the alterations and the whole negotiation started over again, with the leaders of these countries having to sign a new agreement and presenting that new one to their parliaments for ratification. Obama wants this thing done before he leaves office, so it’s unlikely he would consider any recommendations from Congress that would cause the TPP to have to go into renegotiation. And when Clinton makes breezy promises to “improve” it when she is the president, she is eliding the fact that any improvements she might want will likewise send the agreement into renegotiation. (Remember, the countries only have 2 years to ratify the TPP through their parliaments, so there is little time to negotiate a new treaty.)

The “fast-track” bill that Congress wrote and passed and that Obama signed into law last year has its own stipulations that the media has chosen to completely ignore. This bill governs how Congress votes on any trade agreements for the next 6 years. It reads that Congress can only vote ‘yes’ or ‘no’ on any of these agreements without debate, alterations, or amendments, as I mentioned above. I also mentioned that it made the president responsible for telling Congress of any changes to our existing laws that have to occur to comply to the agreements (a duty that Obama handed off to Froman).

In case you think I am inventing the idea that some of our laws will require alteration or amendment (or, in fact, to be overturned altogether) with passage of the TPP, it is quite obvious that this is the case, as the Fast-track bill includes these paragraphs:




But there are further rules imposed by the fast-track law, and these are overarching requirements for any trade agreement for the next 6 years. Fast-track demands that no trade agreement can discourage or prejudice commercial activity between the US and Israel. It stipulates that trade agreements must discourage movements such as BDS (boycott, divest, sanction) against Israel. This “no-BDS” clause includes everyone; the definition is given thusly:

“Definition.–In this paragraph, the term ‘actions to boycott, divest from, or sanction Israel” means actions by states, non-member states of the United Nations, international organizations, or affiliated agencies of international organizations that are politically motivated and are intended to penalize or otherwise limit commercial relations specifically with Israel or persons doing business in Israel or in Israeli-controlled territories.”

This formal declaration against the BDS movement was included despite the fact that Israel is not a participating country in any of the troika of trade agreements potentially coming up for vote in the near future. [What I call the troika consists of the TTP, the TTIP, and TISA.]

Fast-track also puts an end to any notion that we will ever have the labeling of products like GMOs or nano-technology, as it includes the following, a provision that none of the trade agreements can include:

“unjustified trade restrictions or commercial requirements, such as labeling, that affect new technologies, including biotechnology; […]”

When Obama signed the fast-track bill into law, he also signed the updated TAA (aka the Trade Adjustment Assistance law). This bill acknowledges the fact that trade agreements cost the US millions of jobs and so Congress authorizes funds for the “re-training” of American workers who will need to find new jobs with which to support themselves. The TAA has existed for years, but was set to expire in 2015. Congress reauthorized the bill and increased the funding because they knew that the upcoming TPP would cost jobs. They had to pass the TAA in order to get the fast-track bill passed: Obama demanded both at the same time, as did members of Congress who otherwise opposed the fast-track legislation, specifically because they know the TPP, TTIP, etc. will lead to job losses. Some of them even said so out loud while debating the fast-track and TAA bills – that the TPP will cost the US several million jobs, which is a vast understatement, according to labor experts. In order to pass the TAA re-training bill, Congress scotch-taped it to the African Growth and Opportunity Act, a trade bill supported by the Congressional Black Caucus, to attract more yes votes. In the updated bill, Congress supplied the necessary $950 mm funding (their estimate of the minimum needed for worker re-training if the TPP passes) by cutting Medicare further. They extended the Medicare sequestration reductions – Medicare benefits have been cut repeatedly since Obama took office – through 2024 and reduced reimbursements for Medicare patients who are on dialysis for acute renal failure. If you are one of the Americans qualified to get “re-training” money to help you “upgrade your skills” so you can find a new job at McDonald’s or WalMart after the TPP erases your current job, thank an elderly dialysis patient. Oh, wait, you won’t be able to – they’ll all be dead. And by the way, the amount of money you’ll get from the federal government toward a “re-training” program is $1500. Good luck.

No-one in the media noted that while Congress was talking about how the TPP was a swell idea, so “wonderful” that they wanted (and got) the fast-track bill in order to get the TPP passed as quickly as possible when it comes to a vote, they were admitting within the body of a bill passed at the same exact time as fast-track that the TPP was going to cost US jobs. Obama’s trade-policy advocates say the TPP will create jobs at the same time they say it will cost jobs. Which is it?  According to them (depending on the day of the week and which shill they have talking about it for them that day), it will do both.  Let’s call it the “Vietnam War Theory of Economics and Job Growth”. This new economic theory is that jobs must be lost in order for jobs to be created, and that a “good” trade deal is one that will lead to lost jobs and lower wages, which then must be partially offset by more federal spending for the displaced work force (funded with the tried and true method of simply taking monies from another sector of the public sphere); said pool of “displaced workers” having been created by the government passing the trade agreement in the first place.

And the TPP is what Clinton calls the “gold standard” of trade agreements, at least until she decided she had to lie about her position on it in order to garner votes.  For some reason, we allow our votes to be heavily invested in outright political lies.

The TTIP and TISA, the other two trade agreements currently under negotiation, have the same issues that the TPP does, and while I am not going into the specific details of those two here, if they are signed and brought before Congress, they will also be enacted within the mandates of the fast-track law. Some good information about both can be found on wikipedia, and websites such as are doing an outstanding job of reporting on them.

The TPP and the other trade agreements aren’t about trade. Tariffs are already near zero. They are about giving big, multi-national corporations complete control of and power over judicial and legislative decisions in every country, as well as providing unlimited opportunities for corporate cartels to strip money from wages and reduce governmental spending on the commons.


This is for posterity.


















The oligarchs are hosting an election.



















-38 % of all American workers made less than $20,000
-51 % of all American workers made less than $30,000
-62 % of all American workers made less than $40,000
-71 % of all American workers made less than $50,000


















US Treasury imposes new ballistic missile sanctions on Iran:















Hillary Clinton’s Coming Legal Crisis

by Charles Lipson
January 13, 2016























It's just noise.


Sort of.





or see here:












by Robert Romano


On student loan interest rates:


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Posted by on July 5, 2014 in economy