Economic Articles from 2019
The Corporate Plan to Groom U.S. Kids for Servitude by Wiping Out Public Schools
By Lynn Parramore
Posted July 17, 2019
When Lafer began to study the tsunami of corporate-backed legislation that swept the country in early 2011 in the wake of Citizens United—the 2010 Supreme Court decision that gave corporations the green light to spend unlimited sums to influence the political system—he wasn’t yet clear what was happening.
In state after state, a pattern was emerging of highly coordinated campaigns to smash unions, shrink taxes for the wealthy, and cut public services. Headlines blamed globalization and technology for the squeeze on the majority of the population, but Lafer began to see something far more deliberate working behind the scenes: a hidden force that was well-funded, laser-focused, and astonishingly effective.
Lafer pored over the activities of business lobbying groups like the American Legislative Exchange Council (ALEC) – funded by giant corporations including Walmart, Amazon.com, and Bank of America—that produces “model legislation” in areas its conservative members use to promote privatization.
Of all the areas these lobbyists were able to influence, the policy campaign that netted the most laws passed, featured the most big players, and boasted the most effective organizations was public education. For these U.S. corporations, undermining the public school system was the Holy Grail. More…
The system of public education is under attack by corporate forces and funding is being reduced in the hope of inducing systemic failure, allowing corporations to take over.
The public school system is the foundation upon which the nation was built. Consider the consequences if corporations are successful in taking over the system. Do you believe that students needs or corporate profits will be the priority?
The Peasants’ Revolt
by Jeff Thomas
Posted July 1, 2019
In 2016, James Delingpole commented that toffs (aristocracy) hate Brexit because it’s the Peasants’ Revolt.
In fourteenth century England, the cost of ongoing warfare placed politicians in a situation in which they either had to concede the war, cut their own emoluments, or increase taxation significantly. As politicians always do, they chose the latter.
Revenue from the resultant poll tax proved to be less than anticipated, as large numbers of people found ways to evade the tax. The tax commissioners were then given wide latitude in the methods they chose to facilitate collection. As is almost always the case, whenever authorities are given too much latitude, they use it abusively. More…
The Next Stage Of The Engineered Global Economic Reset Has Arrived
by Brandon Smith
Posted June 29, 2019
When discussing the fact that globalists often deliberately engineer economic crisis events, certain questions inevitably arise. The primary question being “Why would the elites ruin a system that is already working in their favor…?” The answer is in some ways complicated because there are multiple factors that motivate the globalists to do the things they do. However, before we get into explanations we have to understand that this kind of question is rooted in false assumptions, not logic.
The first assumption people make is that that current system is the ideal globalist system – it’s not even close.
The truth is that the old world order of the past century is a sacrificial measure, like the booster stage of a rocket to space that falls away and burns up in the atmosphere once it is expended. If you do not accept the reality that the globalists destroy in order to create opportunities for gain, then you will never be able to get a handle on why current events are taking the shape they are. More…
Facebook May Pose a Greater Danger Than Wall Street
by Ellen Brown
Posted June 27, 2019
On June 18, Facebook unveiled a white paper outlining ambitious plans to create a new global cryptocurrency called Libra, to be launched in 2020.
To the crypto-anarchist community, usurping the power of central banks and governments may sound like a good thing. But handing global power to the corporate-controlled Libra Association could be a greater nightmare. So argues Facebook co-founder Chris Hughes, who writes in The Financial Times:
This currency would insert a powerful new corporate layer of monetary control between central banks and individuals. Inevitably, these companies will put their private interests — profits and influence — ahead of public ones.
What Libra backers are calling ‘decentralisation’ is in truth a shift of power from developing world central banks toward multinational corporations and the US Federal Reserve and the European Central Bank. More…
The new proposed Libra currency threatens to privatize money creation under corporate governance, while further entrenching the Euro and US Dollar and undermining small local currencies. This could also be leading the way towards a cashless society.
Consider what the world will be like once the transnational corporations have control of the world’s money creation. Consider life not in a “company town” with company owned stores, but a company world where “your” money can only be spent in company stores. Consider life where governments and/or corporations know everything you do and purchase and you having no privacy at all.
Clubs, Cartels and Bilderberg
by Binoy Kampmark
Posted June 20, 2019
Gatherings of the elite, self-promoted as chat shops of the privileged and monstrously well-heeled, have often garnered attention. That the rich and powerful chat together privately should not be a problem, provided the glitterati keep their harmful ideas down to small circulation. But the Bilderberg gathering, a transatlantic annual meeting convened since 1954, fuels speculation for various reasons, not least of all because of its absence of detail and off-the-record agendas.
C. Gordon Tether, writing for the Financial Times in May 1975, would muse that, “If the Bilderberg Group is not a conspiracy of some sort, it is conducted in such a way as to give a remarkably good imitation of one.”
The ideas and policies discussed are bound to be self-serving ones friendly to the interests of finance and indifferent to the welfare of the commonwealth. More…
The Bankers’ “Power Revolution”: How the Government Got Shackled by Debt
by Ellen Brown
Posted June 19, 2019
We have a $22 trillion debt that cannot possibly be repaid. The government just keeps rolling it over and paying the interest to banks and bondholders, feeding the “financialized” economy in which money makes money without producing new goods and services. The financialized economy has become a parasite feeding off the real economy, driving producers and workers further and further into debt.
The irony is that the United States does not need to carry a debt to bondholders at all.
We need a new model, one designed to serve the needs of the public and the economy rather than to maximize shareholder profits at public expense. More…
Our current monetary system is based on debt that requires interest payments to private parties. The burden of these interest payments is already overwhelming our ability to pay.
Why are we paying interest on our money supply when the money could just as easily be created interest free? Who would benefit from keeping the system exactly as it is today?
Technology Is Not Just Disruptive, It’s Disastrously Deflationary
by Charles Hugh Smith
Posted June 11, 2019
While AI (artificial intelligence) garners the headlines, the next wave of disruptive technologies extend far beyond AI: as the chart of technologies rapidly being adopted shows, this wave includes new materials and processes as well as the “usual suspects” of machine learning, natural language processing, data mining and so on.
While many voices seek to assure us these technologies won’t displace human workers, the reality is cutting labor inputs is the core driver. What few pundits seem to understand (perhaps because they’ve never experienced a truly competitive market?) is that the rush to incorporate these technologies into existing enterprises is deflationary not just to prices but to profits. More…
The American economy is now rigged for downward mobility
by Charles Hugh Smith
Posted June 8, 2019
In the conventional narrative, one’s economic class is overshadowed by one’s political belief structure: liberal, conservative, libertarian, etc. In terms of economic class, the conventional narrative divides people into their ideological beliefs about economic ideologies: free market capitalism, socialism, etc.
Economic class is one of the few remaining heresies in America: in the conventional narrative, it doesn’t exist or is meaningless due to the tremendous social mobility of the American populace: the working class stiff is one wise decision way from middle class status, and the middle class worker is one wise investment away from becoming wealthy.
What the conventional narrative purposefully ignores is the potential for downward mobility, in which one bad decision or investment triggers a drop in economic class and future financial prospects. I’ve been writing for years about the diminishing number of slots in America’s upper middle class, and the realities of diminishing social mobility has been documented by research. More…
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