My view of Hillary and the way, WAY too early 2016 presidential race

yes, by all means, let's focus on the theatrics of an empty and meaningless four-year ritual so the elites can say that the "people" have spoken... pay no attention to the billions of dollars flowing into the media coffers over the next eighteen months...

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When the 2012 election is over, here's who will own the country (not that they don't already)

our overlords...

Meet the 26 Billionaires Buying the 2012 Elections | By Sen. Bernie Sanders

So far this year, 26 billionaires have donated more than $61 million to super PACs, according to the Center for Responsive Politics. And, that’s only what has been publicly disclosed.

This $61 million does not include about $100 million that Sheldon Adelson has said that he is willing to spend to defeat President Obama; or the $400 million that the Koch brothers have pledged to spend during the 2012 election season.

These 26 billionaires have a combined net worth of $146 billion, which is more than the bottom 42.5 percent of American households (equal to nearly 50 million families in the United States).

note: there are only 23 listed because #2 includes the three koch brothers and #12 includes two marriotts...

Here is a list of the billionaires:

1. Sheldon Adelson, owner of the Las Vegas Sands Casino, is worth nearly $25 billion, making him the 14th wealthiest person in the world and the 7th richest person in America.

While median family income plummeted by nearly 40% from 2007-2010, Mr. Adelson has experienced a nearly eightfold increase in his wealth over the past three years (from $3.4 billion to $24.9 billion).

Forbes recently reported that Adelson is willing to spend a “limitless” amount of money or more than $100 million to help defeat President Obama in November.

While $100 million sounds like a lot, it equals the same percentage of Adelson’s wealth that $300 to $400 does for the typical middle class family (with a net worth of about $77,000).

Sheldon Adelson owns more wealth than the bottom 40.2% of American households or 47.2 million American families.

2. The Kochs (David, Charles, and William) are worth a combined $54 billion, according to Forbes. They have pledged to spend about $400 million during the 2012 election season.

3. Jim Walton is worth $23.7 billion. He has donated $300,000 to super PACs in 2012.

4. Harold Simmons is worth $9 billion. He has donated $15.2 million to super PACs this year.

5. Peter Thiel is worth $1.5 billion. He has donated $6.7 million to Super PACs this year.

6. Jerrold Perenchio is worth $2.3 billion. He has donated $2.6 million to super PACs this year.

7. Kenneth Griffin is worth $3 billion and he has given $2.08 million to super PACs in 2012.

8. James Simons is worth $10.7 billion and he has given $1.5 million to super Pacs this year.

9. Julian Robertson is worth $2.5 billion and he has given $1.25 million to super PACs this year.

10. Robert Rowling is worth $4.8 billion and he has given $1.1 million to super PACs.

11. John Paulson, the hedge fund manager who made his fortune betting that the sub-prime mortgage market would collapse, is worth $12.5 billion. He has donated $1 million to super PACs.

12. Richard and J.W. Marriott are worth a combined $3.1 billion and they have donated $2 million to super PACs this year.

13. James Davis is worth $1.9 billion and he has given $1 million to super PACs this year.

14. Harold Hamm is worth $11 billion and he has given $985,000 to super PACs this year.

15. Kenny Trout is worth more than $1.2 billion and he has given $900,000 to super PACs this year.

16. Louis Bacon is worth $1.4 billion and he has given $500,000 to super PACs this year.

17. Bruce Kovner is worth $4.5 billion and he has given $500,000 to super PACs this year.

18. Warren Stephens is worth $2.7 billion and he has given $500,000 to super PACs this year.

19. David Tepper is worth $5.1 billion and he has given $375,000 to super PACs this year.

20. Samuel Zell is worth $4.9 billion and he has given $270,000 to super PACs this year.

21. Leslie Wexner is worth $4.3 billion and he has given $250,000 to super PACs this year.

22. Charles Schwab is worth $3.5 billion and he has given $250,000 to super PACs this year.

23. Kelcy Warren is worth $2.3 billion and he has given $250,000 to super PACs this year.

we will all be working directly or indirectly for these people (if we aren't already)...

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Larry Summers wanted a flagging economy so he could torpedo Social Security, Medicare and Medicaid

this goes back to a point i've made countless times here... there is nothing whatsoever incompetent about how our super-rich elites are running the show... the constant carping about incompetence under george bush made me crazy... those bush administration bastards knew exactly what they were doing and so do the bastards running the obama administration... they're carrying on with the same agenda that's been vigorously pursued since ronald reagan - shredding of the social contract and making sure that those who have the money and the power not only keep it but add to it significantly... and, guess what...? it's working splendidly...!

mike whitney in counterpunch...

What [Obama’s chief economics advisor, Lawrence Summers] wanted was exactly what he got, a slow, underperforming economy with high unemployment and huge deficits. Does anyone really think that an economist with Summers’ impressive education and experience could be $1 trillion off in his calculations? (The American Recovery and Reinvestment Act of 2009 was eventually whittled down to $787 billion) It’s ridiculous. Summers wanted a flagging economy so he could torpedo Social Security, Medicare and Medicaid. These were the targets from the very beginning.

As for Obama, well, he probably figured that the $800 billion fiscal package would be enough to carry him over the finish-line in the 2012 elections, but not so big that it would subvert the goals of his chief economics advisor who was beholden to Wall Street and big business. In truth, Obama wanted the same thing as Summers, a justification for attacking the meager programs that keep the elderly and vulnerable from destitution.


[...]


Obama could allocate $300 billion per year to rehire the 650,000 teachers and other state and local workers who’ve been laid off since the crash. That would be the easiest thing to do. Skip all the red-tape connected to infrastructure and gov job’s programs and just rehire the people who got their pink slip after the crash. The money spent on jobs would more than pay for itself by raising state revenues and boosting economic activity by many orders of magnitude.


Have you seen a graph of how many (state and local) jobs have been lost under Obama? It’s shocking! Take a look: http://streetlightblog.blogspot.com/2012/05/government-job-destruction.html

We need to get these people back to work so they can feed their families and pay the bills. If we can afford $11 trillion to bail out crooked bankers, we can certainly afford a measly $300 mil for hard-working middle class families. It’s just a matter of priorities.


[...]

Obama is just as committed to gutting Social Security as Romney. The only difference is that he’s a better pitchman. Much better.

and where do you suppose all that money will go after social security and medicare lie in ruins...? hmmmm...? that's right... the social darwin .0001% are closing ranks, raising the drawbridge, flooding the moat and heating up the barrels of oil... when the peasants finally storm the castle, they want to make sure their fortress is impenetrable...

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Glenn and Bruce Ackerman on the extreme advance of executive power under Obama

overreaching executive power and the virtually complete negation of constitutionally protected liberties lie at the heart of the choices we are being presented in the 2012 presidential election which, upon even cursory reflection, are no choices at all...

glenn ...

[Consider] the years-long screeching over President Bush’s mere eavesdropping and detentions without any judicial review or transparency — he’s assaulting the Constitution and Our Values! – compared with the reaction to Obama’s more extremist assassinations without any judicial review or transparency. Or consider how a high-level aide to John Ashcroft marveled with envy over Obama’s ability to prosecute whistleblowers with such abandon, noting to The New York Times that the Ashcroft DOJ was deterred by the prospect of a political storm that Obama simply does not face:  ”We,” lamented the Ashcroft aide, “would have gotten hammered for it.”

This was the same dynamic that led former Bush OLC official and current Harvard Law Professor Jack Goldsmith to explain quite presciently (and celebratorily) back in May, 2009, that Obama — by leading progressives and Democrats to support his embrace of Bush/Cheney Terrorism and civil liberties policies — was doing more to entrench those once-controversial policies as bipartisan consensus than Bush and Cheney themselves could ever have dreamt of doing:

The new administration has copied most of the Bush program, has expanded some of it, and has narrowed only a bit. Almost all of the Obama changes have been at the level of packaging, argumentation, symbol, and rhetoric. . . .

[...]

. . . Obama — as he has proven — can get away with far more aggression and belligerence by all but eliminating the pervasive political conflict that arises when done under a Republican President.

an interview on presidential power conducted by lane greene of the economist with bruce ackerman, sterling professor of law and political science at yale...

so, what are we supposed to do in november when facing that election booth handle...? continue to delude ourselves into thinking that we're participating in government by and for the people...? continue to believe that we actually have a choice when voting for president...? whoever occupies the oval office is and will continue to be the bought-and-paid for property of our global ruling elites who have demonstrated beyond a shadow of a doubt that they are the ones in charge of the world's economic and governmental systems...

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Barry Ritholtz: This corruption is not an accident. It is the product of years of very patient work.

from economonitor, originally published in the big picture...

We live in an era of defective government.

This corruption is not an accident. It is the product of years of very patient work. It has been brought about through expensive lobbying, relentless propaganda, agnotology. You can see it in this election cycle, where 196 Americans — 0.000063% of the population — have given more than 80% of Super PAC dollars.

Is it democracy or plutocracy when less than 200 people drive election spending in a nation of 300 million?

Previously, we have pointed out how brazen the lobbying has been to actually cut the SEC enforcement budget. This has created an agency that is defective by design. Take a guess who loses in the battle between you, the individual taxpayer versus the corporation.

Wall Street has taken advantage of the crisis and morphed into a cartel. The tragedy is the only entity that is large and powerful enough to offset their wealth and power are national governments. Yet where ever we look, we see that government has been corrupted and rendered neutered by corporations:

-The Federal Reserve Zero Interest Rate policy is a balm to banks whose balance sheets still have so much bad real estate exposure that higher rates will cause corporate bankruptcy;

-The SEC brings minor insider trading cases while enormous financial crimes go unpunished;

-The Supreme Court has granted natural rights to corporations — rights previously reserved for living and breathing Human Beings;

-The CFTC no longer does the sort of daily audits that can prevent fraud like MF Global and PeregrineFG;-The US Attorney’s office has been captured by the Treasury department, which in turn was captured by large Banks long ago;

-Laws that used to be written by Congressional staffers and academics are now drafted by the regulated industry itself;

-The Attorneys General offices of the states are too timid to sue these same banks for obvious perjury;-Tax loopholes allow wealthy companies to pay very little taxes relative to profits;

-Copyrights that should be in the public domain are retained by companies who have changed intellectual property laws by corrupting legislators.

-The Minerals Management Service (MMS) gives away oil leases and mineral rights for pennies on the dollar.-Money has somehow been equated to speech, turning the idea of “One Person, One vote” on its head.

To function properly, all of these agencies need budgets, a career path for a motivated staff. Yet most of that has been gutted.

Take a look at Neil Barofsky’s book Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street. He describes a Federal prosecutorial system that has been systematically disassembled. There are few career lawyers with the know how, budget and balls to go after the big fish. There is little institutional memory.

We see  this throughout government, a product of even a debate that has been corrupted. The framework is not “How can me make government more effective, efficient responsive?“  Instead, the debate has degenerated into “How can we get government out of the way? How can we make taxes lower?”

Its not that I want big government, I want effective regulations. Its not that I want to pay higher taxes, I want efficient government that can accomplish things. I don’t want to live in a corporatocracy, I want to live in a nation where there is a Rule of Law.

The only way to make this happen is to change the campaign finance laws. Without that, we are a plutocracy governed by lobbyists.

Hence:  Its the bankers world, we just live in it . . .

so, what the fuck are we going to do about it...?

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More on our elites' hidden money

the pirate banking industry... 

from rt, speaking with james henry, the author of the "tax haven" report...

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Our global, super-rich, elite "cabal" have at least $21 TRILLION tax-free stashed away

truly staggering but not at all surprising... merely a confirmation of  what we have already assumed to be true...
 
from the guardian (emphases added)...

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled the most detailed estimates yet of the size of the offshore economy in a new report, The Price of Offshore Revisited, released exclusively to the Observer.

He shows that at least £13tn – perhaps up to £20tn – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, "protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy". According to Henry's research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn in 2010, a sharp rise from £1.5tn five years earlier.

The detailed analysis in the report, compiled using data from a range of sources, including the Bank of International Settlements and the International Monetary Fund, suggests that for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world.

Oil-rich states with an internationally mobile elite have been especially prone to watching their wealth disappear into offshore bank accounts instead of being invested at home, the research suggests. Once the returns on investing the hidden assets is included, almost £500bn has left Russia since the early 1990s when its economy was opened up. Saudi Arabia has seen £197bn flood out since the mid-1970s, and Nigeria £196bn.

"The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments," the report says.

The sheer size of the cash pile sitting out of reach of tax authorities is so great that it suggests standard measures of inequality radically underestimate the true gap between rich and poor. According to Henry's calculations, £6.3tn of assets is owned by only 92,000 people, or 0.001% of the world's population – a tiny class of the mega-rich who have more in common with each other than those at the bottom of the income scale in their own societies.

"These estimates reveal a staggering failure: inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people," said John Christensen of the Tax Justice Network. "People on the street have no illusions about how unfair the situation has become."

the bottom line is that our super-rich elites owe allegiance to no one... their citizenship is merely a formality maintained for appearances and to facilitate crossing those pesky borders... the rule of law and accountability is for the unwashed masses...

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Hedges: It’s absolutely imperative that we begin to understand what unfettered, unregulated capitalism does

it is absolutely imperative that we understand because it's killing us and, ultimately, the entire planet to say nothing of destroying our souls...

chris hedges talking with bill moyers via raw story...

Journalist and activist Chris Hedges appeared Friday on Moyers & Company to talk about the conclusions of his latest book. Days of Destruction, Days of Revolt is dedicated to investigating the most exploited and impoverished places in America, places that he says are “virtually off the radar screen in terms of the commercial media.”

“It’s absolutely imperative that we begin to understand what unfettered, unregulated capitalism does,” Hedges emphasized. “These are sacrifice zones, areas that have been destroyed for quarterly profit. And we’re talking about environmentally destroyed, communities destroyed, human beings destroyed, families destroyed. And because there are no impediments left, these sacrifice zones are just going to spread outward.”

When Moyers asked Hedges what he meant by saying there are no impediments left, he explained, “The political system is bought off, the judicial system is bought off, the law enforcement system services the interests of power, they have been rendered powerless.” Even worse, Hedges believes these devastated communities represent the future for all of us.

Hedges was particularly eloquent in describing the coal-mining areas of West Virginia, which “in terms of national resources is one of the richest areas of the United States [but] harbor the poorest pockets of community, the poorest communities in the United States. Because those resources are extracted, and that money is not funneled back into the communities.”

[...]

“These corporations know only one word, and that’s more,” Hedges went on. “And because the mechanisms of governance can no longer control them, there is nothing now within the formal mechanisms of power to stop them from the creating, essentially, a corporate oligarchic state.”

“We have become complicit,” he noted sadly, “because we’ve accepted this as a kind of natural law. And the acceptance of this kind of behavior, and even the celebration of it is going to ultimately trigger our demise.”

the video from moyers & company...



you can see the kind of thing hedges is talking about happening all over the country...vacant, foreclosed homes... shuttered, empty storefronts... dying downtowns... and, worst of all, people walking around with blank, dazed expressions, wondering what's going to happen to them, just waiting to get back home to watch tv, the opiate of the masses... the only exceptions seem to be in the enclaves of our super-rich elites, but it's even beginning to affect those... friends of mine who are massage therapists in one of the wealthiest areas of the country speak of clients complaining about being "down to their last million"... certainly a problem most of us would like to have but interesting nonetheless...

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Two video clips from RT on Bohemian Grove

why is it that our global super-rich elites, the very people who pull the strings of governments, corporations and, by extension, all of us, get to gather to discuss who knows what without any media scrutiny...? why is it that the only media coverage comes from a russian cable news network...? what a sad commentary on our so-called "news" media...

Inside of Bohemian Grove 2012

It's the secretive meeting that the world's elites don't want you to know about - some of the world's richest and brightest are descending on Bohemian Grove yet again this year. RT correspondent Abby Martin is on the ground and she is bringing the latest on what's really going on there.

Occupy protesters take on Bohemian Grove

2,000 of the world's most rich and powerful take a yearly voyage to the Bohemian Grove, a secluded camp out in the redwoods of Monte Rio, CA. With little to no media coverage of this elite pow wow, RT correspondent Abby Martin set out to cover the event herself. There, activists, protesters and grove attendees elucidate the dangers of power players colluding behind closed doors and how it affects the rest of humanity.

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Stiglitz: Unrestrained power and rampant greed are writing an epitaph for the American dream

i was pointed to this by commenter mettle...

from the guardian...

The ancient Greeks had a word for it – pleonexia – which means an overreaching desire for more than one's share.

[...]

In The Price of Inequality, Joseph E Stiglitz passionately describes how unrestrained power and rampant greed are writing an epitaph for the American dream. The promise of the US as the land of opportunity has been shattered by the modern pleonetic tyrants, who make up the 1%, while sections of the 99% across the globe are beginning to vent their rage. That often inchoate anger, seen in Occupy Wall Street and Spain's los indignados, is given shape, fluency, substance and authority by Stiglitz. He does so not in the name of revolution – although he tells the 1% that their bloody time may yet come – but in order that capitalism be snatched back from free market fundamentalism and put to the service of the many, not the few.

[...]

The Price of Inequality is a powerful plea for the implementation of what Alexis de Tocqueville termed "self-interest properly understood". Stiglitz writes: "Paying attention to everyone else's self-interest – in other words to the common welfare – is in fact a precondition for one's own ultimate wellbeing… it isn't just good for the soul; it's good for business." Unfortunately, that's what those with hubris and pleonexia have never understood – and we are all paying the price.

and the price we're paying is horrific...

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Taxing the rich to make investments that grow the middle class, is the single smartest thing we can do for the middle class, the poor and the rich

here's that ted video that ted deemed "too controversial" to post on their website...

and here's some of the transcript...

I can say with confidence that rich people don't create jobs, nor do businesses, large or small. What does lead to more employment is a "circle of life" like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me.

[...]

Anyone who's ever run a business knows that hiring more people is a capitalist's course of last resort, something we do only when increasing customer demand requires it. In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That's why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

[...]

If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. And yet unemployment and under-employment is at record highs.

Another reason this idea is so wrong-headed is that there can never be enough super-rich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the median American, but we don't buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, we go out to eat with friends and family only occasionally.

I can't buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can't buy any new clothes or cars or enjoy any meals out. Or to make up for the decreasing consumption of the vast majority of American families that are barely squeaking by, buried by spiraling costs and trapped by stagnant or declining wages.

[...]

We've had it backward for the last 30 years. Rich businesspeople like me don't create jobs. Rather they are a consequence of an eco-systemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners profit. That's why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.

So here's an idea worth spreading.

In a capitalist economy, the true job creators are consumers, the middle class. And taxing the rich to make investments that grow the middle class, is the single smartest thing we can do for the middle class, the poor and the rich.

about time a wealthy capitalist stood up and told the truth...

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Chris Hedges: The allure of combat is a trap, a ploy, an old, dirty game of deception in which the powerful, who do not go to war, promise a mirage to those who do

from the boston review...

War Is Betrayal

Persistent Myths of Combat  

Chris Hedges 

We condition the poor and the working class to go to war. We promise them honor, status, glory, and adventure. We promise boys they will become men. We hold these promises up against the dead-end jobs of small-town life, the financial dislocations, credit card debt, bad marriages, lack of health insurance, and dread of unemployment. The military is the call of the Sirens, the enticement that has for generations seduced young Americans working in fast food restaurants or behind the counters of Walmarts to fight and die for war profiteers and elites.

The poor embrace the military because every other cul-de-sac in their lives breaks their spirit and their dignity. Pick up Erich Maria Remarque’s All Quiet on the Western Front or James Jones’s From Here to Eternity. Read Henry IV. Turn to the Iliad. The allure of combat is a trap, a ploy, an old, dirty game of deception in which the powerful, who do not go to war, promise a mirage to those who do.

[...]

Any story of war is a story of elites preying on the weak, the gullible, the marginal, the poor.

[...]

‘It’s not about defending the country or serving our people. It’s about working for some rich guy who has his interests.’

[...]

Killing becomes a job. You do it. Sometimes it unnerves you. But the demons usually don’t hit until you come home, when you are lying alone in bed and you don’t dare to tell your wife or your girlfriend what you have become, what you saw, what you did, why you are drinking yourself into a stupor, why you so desperately want to forget your dreams.


The disillusionment comes swiftly. It is not the war of the movies. It is not the glory promised by the recruiters. The mythology fed to you by the church, the press, the school, the state, and the entertainment industry is exposed as a lie. We are not a virtuous nation. God has not blessed America. Victory is not assured. And we can be as evil, even more evil, than those we oppose. War is venal, noisy, frightening, and dirty. The military is a vast bureaucratic machine fueled by hyper-masculine fantasies and arcane and mind-numbing rules. War is always about betrayal—betrayal of the young by the old, of idealists by cynics, and of soldiers and Marines by politicians.


[...]


War comes wrapped in patriotic slogans; calls for sacrifice, honor, and heroism; and promises of glory. It comes wrapped in the claims of divine providence. It is what a grateful nation asks of its children. It is what is right and just. It is waged to make the nation and the world a better place, to cleanse evil. War is touted as the ultimate test of manhood, where the young can find out what they are made of. From a distance it seems noble. It gives us comrades and power and a chance to play a bit part in the great drama of history. It promises to give us identities as warriors, patriots, as long as we go along with the myth, the one the war-makers need to wage wars and the defense contractors need to increase their profits.

so sad... we send our young and desperate to fight for the old and the rich...

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A $7 BILLION loss at JPMorgan? WHEN are our criminal bankers going face some real accountability?

the crap keeps flowing nonstop and these guys keep walking the streets with zero consequences for fraud, malfeasance, mismanagement, lying, and outright theft... meanwhile, you or i could be literally tossed in jail over a minor traffic violation... when is this shit going to cease...?

JPMorgan Fears Traders Obscured Losses in First Quarter

JPMorgan Chase which reported its second-quarter results on Friday, disclosed that the losses on a soured credit bet could mount to more than $7 billion, as the nation’s largest bank indicated that traders may have intentionally tried to conceal the extent of the red ink on the disastrous position.

Amid a swirl of questions about how the traders marked their bets, JPMorgan also said Friday that it would be forced to restate its first-quarter results.

If the trades, made out of the powerful chief investment office unit in London, had been properly valued, the bank said it would have lost $1.4 billion on the position in the first quarter.

Jamie Dimon, the bank’s chief executive who has consistently reassured investors that the losses would be contained, announced that the bank lost $4.4 billion on the botched trade in the second quarter. So far this year, the bank says it has lost $5.8 billion on the trades in credit derivatives.

In a statement, JPMorgan said that “the firm has recently discovered information that raises questions about the integrity of the trader marks and suggests that certain individuals may have been seeking to avoid showing the full amount of the losses in the portfolio during the first quarter.”

jamie dimon, crook-in-chief...

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Max Keiser: A kleptocracy of central bankers run our lives

my question to which i never hear a satisfactory answer is why are we putting up with it...?

the keiser report from 7 july on rt... 

Max Keiser and co-host, Stacy Herbert, discuss why nobody is freaking about LIBOR in America, while JP Morgan caught doing an Enron on US energy markets and GlaxoSmithKline pays 10% of their ill-gotten gains for bribing doctors and scientists across America. In the second half of the show Max talks to Kevin Sara of the TuNur solar export project of Tunisia about solar exports from the Middle East and toxic derivatives exports from the City of London.

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The Libor criminal banking fraud crosses the pond

as far as i'm concerned, the libor scandal is the last straw... many trillions of dollars have been literally stolen from people around the world and if this goes unpunished, we might as well kiss our asses goodbye because we will be forever owned by our super-rich elites and the criminal bankers...

Libor rate-fixing scandal spotlight now on Citi, JPMorgan

The harsh light of the Libor rate-fixing scandal has crossed the Atlantic, with both Citigroup and JPMorgan Chase saying regulators and investigators have requested information from them in a so-far preliminary probe of the case.

Share prices for both — as well as Bank of America, which has not said if it was asked for information — have fallen sharply this week amid worries they could be in line for the type of heavy fines laid on Britain’s Barclays Bank, at the center of the scandal.

break out the rakes and hoes... it's time to go on the attack...

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Chomsky: Our super-rich elites are perfectly happy if your "significant other" is a TV set

from the guardian...

Noam Chomsky: 'The Occupy movement just lit a spark'

'If you're rich and powerful you never have enough'. In this full-length interview, Gary Youngetalks to US historian and philosopher Noam Chomsky about why the Occupy movement is so important, where it goes from here, and how it will affect the election.

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More Alyona talking with Chris Hedges on the global trainwreck of unfettered capitalism

maximizing profits in a marketplace that recognizes no constraints...

Chris Hedges "Days of Destruction, Days of Revolt"

That's what our guest tonight argues in his latest book, by travelling to, and documenting life and the destruction of it in so called, "sacrifice zones". This includes the Pine Ridge Reservation in South Dakota; the city of Camden, N.J.; the now leveled mountains of West Virginia; and the migrant-worker camps that resemble modern day slavery of southwest Florida. So why are they sacrifice zones? Because both human beings and the natural world have been used and then discarded to maximize earnings in a marketplace that rules without constraints. They're perhaps the most shocking and in your face examples, but should they be used as a warning sign as to where the rest of the country, and the world are headed? Alyona discusses his new book "Days of Destruction, Days of Revolt" with Chris Hedges Pulitzer Prize-winning reporter and Senior Fellow at the Nation Institute.

consider this an antidote to the mindless 4th of july celebrations of an america that doesn't exist...

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Outrageous inequality facts

from information clearing house... 

Some Outrageous Facts about US Inequality

By Paul Buchheit

July 03, 2012 "Common Dreams" -- Studying inequality in America reveals some facts that are truly hard to believe. Amidst all the absurdity a few stand out.

1. U.S. companies in total pay a smaller percentage of taxes than the lowest-income 20% of Americans.

Total corporate profits for 2011 were $1.97 trillion. Corporations paid $181 billion in federal taxes (9%) and $40 billion in state taxes (2%), for a total tax burden of 11%. The poorest 20% of American citizens pay 17.4% in federal, state, and local taxes.

2. The high-profit, tax-avoiding tech industry was built on publicly-funded research.

The technology sector has been more dependent on government research and development than any other industry. The U.S. government provided about half of the funding for basic research in technology and communications well into the 1980s. Even today, federal grants support about 60 percent of research performed at universities.

IBM was founded in 1911, Hewlett-Packard in 1947, Intel in 1968, Microsoft in 1975, Apple and Oracle in 1977, Cisco in 1984. All relied on government and military innovations. The more recently incorporated Google, which started in 1996, grew out of the Defense Department's ARPANET system and the National Science Foundation's Digital Library Initiative.

The combined 2011 federal tax payment for the eight companies was just 10.6%.

3. The sales tax on a quadrillion dollars of financial sales is ZERO.

The Bank for International Settlements reported in 2008 that total annual derivatives trades were $1.14 quadrillion. The same year, the Chicago Mercantile Exchange reported a trading volume of $1.2 quadrillion.

A quadrillion dollars is the entire world economy, 12 times over. It's enough to give 3 million dollars to every person in the United States. But in a sense it's not real money. Most of it is high-volume nanosecond computer trading, the type that almost crashed our economy. So it's a good candidate for a tiny sales tax. But there is no sales tax.

Go out and buy shoes or an iPhone and you pay up to a 10% sales tax. But walk over to Wall Street and buy a million dollar high-risk credit default swap and pay 0%.

4. Many Americans get just a penny on the dollar.

• For every dollar of NON-HOME wealth owned by white families, people of color have only one cent.
   
• For every dollar the richest .1% earned in 1980, they've added three more dollars. The poorest 90% have added one cent.
   
• For every dollar of financial securities (e.g., bonds) in the U.S., the bottom 90% of Americans have a penny and a half's worth.
   
• For every dollar of 2008-2010 profits from Boeing, DuPont, Wells Fargo, Verizon, General Electric, and Dow Chemicals, the American public got a penny in taxes.

5. Our society allows one man or one family to possess enough money to feed EVERY hungry person on earth.

The United Nations estimates that $30 billion per year is needed to eradicate hunger. Several individuals have more than this amount in personal wealth.

There are 925 million people in the world with insufficient food. According to the World Food Program, it takes about $100 a year to feed a human being. That's $92 billion, about equal to the fortune of the six Wal-Mart heirs.

One Final Outrage...

In 2007 a hedge fund manager (John Paulson) conspired with a financial company (Goldman Sachs) to create packages of risky subprime mortgages, so that in anticipation of a housing crash he could use other people's money to bet against his personally designed sure-to-fail financial instruments. His successful gamble paid him $3.7 billion. Three years later he made another $5 billion, which in the real world would have been enough to pay the salaries of 100,000 health care workers.

As an added insult to middle-class taxpayers, the tax rate on most of Paulson's income was just 15%. As a double insult, he may have paid no tax at all, since hedge fund profits can be deferred indefinitely. As a triple insult, some of his payoff came from the middle-class taxpayers themselves, who bailed out the company (AIG) that had to pay off his bets.

And the people we elect to protect our interests are unable or unwilling to do anything about it.

yes, indeed... truly outrageous...

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Stiglitz: 'Send Bankers to Jail'

evidently, with the latest breaking scandal involving barclays and the manipulation of the libor rate, joseph stiglitz has had enough...

Nobel Prize winner and former World Bank economist Joseph Stiglitz has called recent revelations that Barclays and other large banks colluded to defraud their costumers by artificially leveraging international interest rates a "textbook illustration" of how banks use privileged information and lax oversight to reap rewards for themselves while savaging the wider societies in which they operate.

In an interview with The Independent on Monday, Stiglitz argued (with Barclay's as just the most recent example) that bankers -- without threat of prosecution or jail time -- would continue to use their elevated status to exploit weak regulations, consolidate power, and avoid accountability.

The scandal at Barclays claimed the resignation on Sunday of Chairman Marcus Agius after traders at the bank admitted manipulating Libor, a baseline interest rate used by banks to set lending costs around the world and which acts as the benchmark, according to an estimate by Reuters, on $350 trillion in derivatives and other financial products.

Stiglitz argues, in paraphrase by interviewer Ben Chu, "that breaking the economic and political power that has been amassed by the financial sector in recent decades, especially in the US and the UK, is essential if we are to build a more just and prosperous society. The first step, he says, is sending some bankers to jail."

the lack of accountability and the wholesale refusal to apply the rule of law to our criminal super-rich elites is nothing less than outrageous...

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Bernie Sanders: The American people are angry

from senator sanders youtube site...



yes, indeed, the american people ARE angry and rightfully so... we've been screwed sixteen ways from sunday by our super-rich elites, their criminal banker colleagues and their bought-and-paid-for government officials... it's all part of the grand plan to control all the world's money and resources while keeping the peasant class in thrall to keep it all running to their benefit...

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