Ten Common Sense Economic Truths
by David Korten
Posted February 6, 2016
The more closely I look, the more obvious it is that the Old Economy fails because it is based on false values, assumptions, and logic. Those who are working to create a New Economy from the bottom-up intuitively recognize and act on 10 common sense truths foundational to a sound economy.
The proper purpose of an economy is to secure just, sustainable, and joyful livelihoods for all. This may come as something of a shock to Wall Street financiers who profit from financial bubbles, securities fraud, low wages, unemployment, foreign sweatshops, tax evasion, public subsidies, and monopoly pricing. More…
The West Is Reduced To Looting Itself
by Paul Craig Roberts (former Asst. Sec. of the Treasury under President Reagan)
Posted February 3, 2016
With the entire Third World now exploited to the limits possible, the West has turned to looting its own. Ireland has been looted, and the looting of Greece and Portugal is so severe that it has forced large numbers of young women into prostitution. But this doesn’t bother the Western conscience.
The new rule is that the people of a country, even a country whose top officials accepted bribes in order to indebt the country to foreigners, must have their pensions, employment, and social services slashed and valuable national resources such as municipal water systems, ports, the national lottery, and protected national lands, such as the protected Greek islands, sold to foreigners, who have the freedom to raise water prices, deny the Greek government the revenues from the national lottery, and sell the protected national heritage of Greece to real estate developers.
What has happened to Greece and Portugal is underway in Spain and Italy. The peoples are powerless because their governments do not represent them. More…
The US Government Has an Internet Killswitch — and It’s None of Your Business
by Derrick Broze
Posted January 28, 2016
On Monday the Supreme Court declined to hear a petition from the Electronic Privacy Information Center (EPIC) that sought to force the Department of Homeland Security to release details of a secret “killswitch” protocol to shut down cellphone and internet service during emergencies.
With the Supreme Court’s refusal to address EPIC’s petition, the issue seems to have reached a dead-end. The American people are (once again) left in the dark regarding the inner-workings of another dangerous and intrusive government program. It is only through the hard work of activists and groups like EPIC that we are at least aware of the existence of this program — but knowing bits and pieces about the protocol is not enough. In order to combat such heavy-handed measures, we need to have access to the government’s own documents. Hopefully, there is already a whistleblower preparing to release these details. More…
Revealed: Environmental officials warned Snyder administration not to use water that poisoned Flint
by David Ferguson
Posted January 27, 2016
The plan to use the Flint River as Flint, Michigan’s primary water source was initially rejected by a commission appointed by the state’s Republican Gov. Rick Snyder, but the governor’s office overruled officials and carried the plan forward anyway.
According to The Daily Beast, Flint’s emergency manager rejected the plan to go off of Detroit city water and use water from the Flint in 2012. However, Snyder’s office overruled that objection and used water from the Flint anyway, setting in motion a chain of events that has led to a lead contamination crisis.
Snyder has also been less-than-forthcoming regarding the final decision to cut off the flow of water from Detroit. The city of Detroit offered to continue to work with Flint, but Snyder has publicly maintained that Detroit refused to continue to provide water for Flint. More…
Let’s make attending Davos as shameful as running a sweatshop
by Steve Hilton
Posted January 24, 2016
Davos has just finished. You know, the annual meeting of the World Economic Forum. What, didn’t you get your invitation? Oh dear, looks like you don’t really matter. Sorry about that.
It’s easy to mock Davos – so I will. It’s the annual schmooze fest where rich white men debate inequality and diversity. Where fleets of carbon-gushing private jets fly in philanthropists to pontificate about climate change. Where the world’s biggest corporations earnestly set out footling “strategies” and “action plans” to give the impression they’re addressing the social and environmental problems that they caused in the first place. More…
What’s Eroding the Middle Class?
by Charles Hugh Smith
Posted January 19, 2016
This erosion of a self-employed, independent middle class was an important pre-condition for the collapse of Rome and the French Revolution. I have devoted many blog posts to the erosion of the middle class, for the specific reason that when the middle class–the layers of the economy between the Power Elites and landless laborers/state dependents–erodes away, the nation/empire is destabilized and descends into crisis.
A society without a functioning middle layer of economic and social activity is not stable, though repression can mask this for a time. Economies constructed of a supremely wealthy elite, a thin layer of independent artisans and small farmers, and a great mass of laborers with no assets has no shared sense of identity or purpose; those at the bottom have little in common with those at the top, and the thin middle that is scraping by has little affinity with either the elite above or the poverty-stricken below. More…
How Debt Conquered America
by Jada Thacker
Posted January 15, 2016
America presents itself to the world as “the land of the free” but – for the vast majority – it is a place of enslaving indebtedness, a reality for much of “the 99%” that has deep historical roots hidden or “lost” from our history. To view the conquest of North America as the triumphant flowering of democratic liberty and affluence over bestial savagery and abject poverty is so factually vacant, so morally and economically perverse, as to be considered hallucinatory.
Native people literally had no words to describe the cataclysm that had destroyed them. It was left to follow-on generations of “necessitous men” to learn the vocabulary of servitude needed to describe their economic lives.
Here is only a part of the terminology “necessitous men” needed to learn: poverty level, payday loans, food stamps, interest rate, surcharges, eviction, unemployment rates, lock-outs, foreclosure, bankruptcy, credit scores, down payment, damage deposits, credit limit, collection agency, mortgages, user fees, closing costs, title loans, bail outs, insolvency, title insurance, origination fee, installment plans, tax levy, deed restrictions, market crashes, illiquidity, non-sufficient funds, minimum payment due, late fees, lay-offs, property lien, pawn tickets, collateral, tax withholding, service fees, forfeiture, inflation, deflation, stagflation…
Is this the vocabulary of free people? More…
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