On drilling in Alaska’s National Wildlife Refuge, banks, like broken clocks, get it right once every so often.
WASHINGTON—Occasionally, the nation’s corporate capitalists—in this case, its six dominant banks—do something right. And their refusal to lend big oil any money to “Drill, baby, drill!” in former GOP Gov. Sarah Palin’s words, in the ecologically vital Arctic National Wildlife Refuge may stop lame-duck GOP Oval Office occupant Donald Trump’s last-minute scheme to let the oil giants do so. Continue reading →
The reconstitution of Executive Outcomes (E.O.), the South Africa-based mercenary firm that was involved in civil wars in Sierra Leone, Angola, and Rwanda in the 1990s, is troubling news for not only Africa, but other nations that have seen their fair share of mercenary force destabilization. Amid an outcry over its activities in Africa and other nations, E.O. ceased operations in 1998. The cessation of the firm’s activities came after South Africa passed legislation, the “Regulation of Foreign Military Assistance Act,” which required mercenary firms like E.O. to have South African government authorization prior to signing contracts with foreign entities. Continue reading →
The Fed’s policy tools—interest rate manipulation, quantitative easing, and “Special Purpose Vehicles”—have all failed to revive local economies suffering from government-mandated shutdowns. The Fed must rely on private banks to inject credit into Main Street, and private banks are currently unable or unwilling to do it. The tools the Fed actually needs are public banks, which could and would do the job.
On November 20, US Treasury Secretary Steven Mnuchin informed Federal Reserve Chairman Jerome Powell that he would not extend five of the Special Purpose Vehicles (SPVs) set up last spring to bail out bondholders, and that he wanted the $455 billion in taxpayer money back that the Treasury had sent to the Fed to capitalize these SPVs. The next day, Powell replied that he thought it was too soon—the SPVs still served a purpose—but he agreed to return the funds. Both had good grounds for their moves, but as Wolf Richter wrote on WolfStreet.com, “You’d think something earth-shattering happened based on the media hullabaloo that ensued.” Continue reading →
Like it or not, the COVID-19 pandemic with its veiled threat of forced vaccinations, contact tracing, and genetically encoded vaccines is propelling humanity at warp speed into a whole new frontier—a surveillance matrix—the likes of which we’ve only previously encountered in science fiction. Continue reading →
During the most severe Main Street economic collapse in US history—with over one-fourth of working-age Americans jobless—additional calamity looms in the coming weeks. Continue reading →
"McConnell is making it pretty clear that if Dems don't win the Georgia Senate races, he will cripple the American economy, hoping it will let the GOP win the midterm."
Senate Majority Leader Mitch McConnell on Tuesday began circulating a coronavirus relief proposal whose contents offer so little assistance to the tens of millions of jobless, hungry, and eviction-prone Americans that critics warned the Kentucky Republican is actively working to ensure the U.S. economy remains mired in deep recession as the Biden administration takes charge next month. Continue reading →
“Enough is enough,” an emotional George Sterling of Georgia’s Election Commission declared at a nationally televised press conference Tuesday. Continue reading →
The nation’s woefully inadequate response to the pandemic is jeopardizing millions of retirement futures.
The all-time record highs that Wall Street has registered this week have given some Americans—the nation’s already rich—considerable cause for celebration. Continue reading →
The military industrial complex is returning to its roots as the CIA turns to big tech to maintain control and rebuild the war economy.
The vaunted “17 intelligence agencies” that comprise the U.S. intel community will be sharing a network of private-sector cloud computing service providers which includes Microsoft, Google, Oracle, IBM, and Amazon Web Services (AWS) as part of a 15-year contract said to be worth tens of billions of dollars. Continue reading →
Since the pandemic began, people of color have been dying at higher rates than those with lighter skin tones. Black, Indigenous and Latino Americans all have a COVID-19 death rate of triple or more that of White Americans. Continue reading →
Israel used all four years of Trump’s presidency to entrench its systems of occupation and apartheid. Now that Joe Biden has won the U.S. election, the assassination of Iran’s top nuclear scientist, likely by Israel with the go-ahead from the US administration, is a desperate attempt to use Trump’s last days in office to sabotage Biden’s chances of successful diplomacy with Iran. Biden, Congress and the world community can’t let that happen. Continue reading →
In a few words, a close associate of Israeli Prime Minister, Benjamin Netanyahu, summed up the logic behind the ongoing frenzy to expand illegal Jewish settlements in Israel. Continue reading →
His lies and incompetence created epic disasters that may yet sink America.
My friend and former colleague Bruce Bartlett has done a service by reminding us that after four years of the non-stop catastrophe that was the Trump administration, we should not lull ourselves with the illusion that the 45th president was some aberration that fell out of the sky. Continue reading →
Debunking the ‘opium of the people’ maxim: Football is about politics and class struggle
Posted on December 8, 2020 by Ramzy Baroud
Noam Chomsky is right when he says that, in the US, sports creates the necessary “fantasy world” required to shield people from understanding, organizing, and attempting to “influence the real world.” Continue reading →