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THE WHITE TERRORISTS — Yvette Carnell writes a scathing history of Lynching in America; Ajamu Baraka on Netanyahu the Rejectionist; Patrick Smith on Reinventing the Foreign Correspondent; Peter Lee on the Talking Cyber World War III Blues; Jeffrey St. Clair on the Real Israeli Defense Force: the US Congress. Plus: Mike Whitney: Getting Cured in Vietnam; JoAnn Wypijewski on Gramsci, Chick Webb and the Art of Living Well; Chris Floyd: Learning About the Rapture from Michele Bachmann and Lee Ballinger: Driving Nat King Cole.
Archives by Tag 'austerity'
Austerity Grips Ireland
CAOIMHGHIN Ó CROIDHEÁIN
Dublin. Despite the fact that the Irish people are currently enduring endless austerity and cutbacks, ...
Apparatchiks in a Class War
ROB URIE
In coming weeks the recently re-elected Barack Obama will propose trimming the vestiges of the New Deal—Social Security, Medicare and Medicaid, in the decades long effort of bi-partisan Washington to consolidate total control of Western economies in the hands of a corpo...
No Wait for Austerity
KATRINA BACOME
I don’t have a television, so I didn’t get to see President Obama deliver his reelection speech last night. Like millions of Americans, the day after the election was much the same as every other day. I spent my first day after Obama’s victory moving for...
The Economic Realities of Social Security
DEAN BAKER
It is remarkable that Social Security hasn’t been a more prominent issue in the presidential race. After all, Governor Romney has proposed ...
Where are the Clergy?
MEL KING and Rev. WILLIAM E. ALBERTS
Our two fathers would have much to say to today’s presidential and Senate candidates who are pandering for middle class votes?  As if tens of millions of economically struggling families, like the ones in which we were raised, did not even exist.  In the face of such ...
The Wrecking Society
DEAN BAKER
There is an old story from the heyday of the Soviet Union. As part of their May Day celebrations they were parading their latest weapon systems down the street in front of the Kremlin. There was a long column of their newest tanks, followed by a row of tractors pulling mi...
The Coming Age of Austerity
SHAMUS COOKE
The coast is clear, the media tells us; economic disaster has been averted. The Euro Zone is finally stable and the U.S. economy is recovering. Whew! Why, then, are government policies internationally still pursuing extremist measures? In the U.S., a third round of...
Reimagining Austerity
ELLIOT SPERBER
Though their conclusions are specious, the proponents of economic austerity programs are in one crucial respect entirely correct: the present economic system is dysfunctional and, as such, requires a radical transfiguration. Indeed, as it ceaselessly spews toxins into the...
A Draconian Structural Adjustment for the US?
HEATHER GRAY
We are now faced with the threat of the stark economic policies of neoliberalism or its more stark form of the structural adjustment market-driven model being thrust down our throats. This is thanks to the likes of GOP Vice Presidential candidate Paul Ryan’s radical eco...
The Spreading Financial Rot
SERGE HALIMI
The US financial rot spread, causing a global economic crisis with catastrophic results: no jobs, millions of property owners bankrupt, waning social security. That was five years ago. Now it is quite possible that the next incumbent of the White House may be Willard Mitt...
Hot Autumn in the Kingdom of Spain
DANIEL RAVENTOS and JULIE WARK
On 20 November 2011, thirty-six years after the death of the dictator Francisco Franco, the right-wing Popular Party (PP) won a resounding victory in the parliamentary election. Less than ten months later, voting intention polls show that public support for the Rajoy gove...
The Finance Bomb
ROB URIE
A sort of joke making the rounds a few years back had (billionaire) Bill Gates walking into a working class bar. The joke was that the moment he did everyone in the bar on average became a billionaire. Understand—he didn’t give away any money or, other than possibly o...
Francois Hollande, the Austere Socialist
PHILIPPE MARLIERE
London. As François Hollande hits the 100-day mark, what is the verdict on the man at the top of French politics? In terms of style, his trademarks emerged quickly enough. Hollande has renewed the Gaullist interpretation of the presidency: in accordance w...
Does Paul Ryan Know What’s in His Budget?
DEAN BAKER
If the news media had to work for a living, this is what they would all be asking right now. The reason is simple. The projections the Congressional Budget Office (CBO) made for Representative Ryan’s budget imply that he literally wants to shut down the federal gove...
On the Road to Ryan and Ruin
LAWRENCE DAVIDSON
In the 132 years between 1797 and 1929, there was no effective regulation of U.S. economy. No federal agencies existed to control corruption, fraud and exploitation on the part of the business class. Even during the Civil War, economic management on a national level was m...
Paul Ryan’s Vicious Budget
RALPH NADER
The cruel impoverishment of the debate among the presidential and congressional candidates took a gigantic leap into the pits with Mitt Romney’s selection of 42-year-old Rep. Paul Ryan from the deindustrialized town of Janesville, Wisconsin. Ryan is invariably described...
The Euro is Not in Trouble; the People Are
VINCENT NAVARRO
One of the phrases frequently written in economic circles in the United States (and to a lesser degree in Europe) is “the Euro is going to collapse.” Those who repeat that phrase over and over again do not seem to know how the Euro was established, by whom, and for wh...
The UN and the Financial Crisis
ROBERT H. WADE
Among those who care about the fate of the United Nations it is widely assumed — and regretted — that the UN stood on the sidelines at the start of the global financial crisis, and let the G20, the International Monetary Fund and the World Bank take the lead in an int...
Pensions Under Attack
MARK VORPAHL
On Friday, July 6, President Obama signed into law a bill that would renew transportation programs and extend low interest rates on student loans for one year. While this minimal gesture resulted in, no doubt, sighs of relief from those burdened by student debt, tucked aw...
The Virtues of Big Government
ROBERT HUNZIKER
For decades now, actually since President Reagan’s administration, Republicans, with encouragement from Neocons, Supply-siders, Neoliberals, Tea Partiers, or, in short, the Right Wing in toto, have argued big government is evil, a bureaucratic money-trap that is ineffic...
Austerity, Growth and Germany’s Europe Policy
JENNY O'CONNOR
A major qualm many have with the Fiscal Compact is the implication underlying it that sensible and frugal wealthy European countries such as Germany must get the irresponsible and spendthrift indebted countries to sign up to a set of guarantees before handing them more mo...
Codependence Day
ROB LARSON
This Wednesday, as millions of Americans picnic in the (increasingly) warm summer weather, there is little affection for the social system that carries the flag of freedom the holiday celebrates. With support for the present Congress recently falling into the single digit...
Why None of Europe’s Attempts to Save Itself Will Work
XIMENA ORTIZ
Even if the Greek and other European publics are seen capitulating to the whims of elites for the moment, that deference will probably not last. The Greek people appear to have been spooked into falling into line, by the barest margin, with a bailout package. But througho...
Latvia’s Fake Economic Model
JEFFREY SOMMERS and MICHAEL HUDSON
Austerity’s advocates are declaring victory with Latvia’s battle against the European economic crisis and advocating it as the model for Greece & Spain to emulate.  Curiously, Latvians have been declaring this “win” by exiting their country. The “aus...
The Dow of the G20
VIJAY PRASHAD
In quick succession, the World Leaders shall gather, first at Los Cabos (Mexico) for the G20 summit and then at Rio de Janeiro (Brazil) for the UN Conference on Sustainable Development. Frantic discussions are being held by the sherpas, the bureaucrats whose task...
Trying to Kill Social Security
RON JACOBS
It seems like every few months alarms are sounded warning US workers that Social Security is going bankrupt.  Oftentimes, the follow up to these alarms includes a warning that the only way to save the system is by turning all or part of the funds involved over to Wall St...
Left Threat Terrifies Bankers: Out of the Eurozone, Into Bankruptcy?
PATRICK COCKBURN
Athens As Greeks prepare to vote in the most important election in their history on Sunday, people in Athens fear they are facing a future full of uncertainty, poverty and violence. Well-publicized crimes help create an atmosphere of violence as the wealth...
Greed and the Pain in Spain
CONN HALLINAN
Nobel Laureate economist Joseph Stiglitz characterizes the Spanish bank bailout as “voodoo economics” that is certain “to fail.” New York Times economic analyst Andrew Ross Sorkin agrees: “By now it should be apparent that the bailout has failed—or at le...
The Spanish Hurricane
ERIC TOUSSAINT
All eyes are turned toward Spain and its banking sector. After Greece, Ireland, and Portugal, we may ask ourselves if the bailout plans are behind us or whether we are simply in the eye of the cyclone? We must remain lucid and recognize that the financial and banking cris...
The Real Retirement Crisis
ERIC LAURSEN
“The lifespan of any civilization can be measured by the respect and care that is given to its elderly citizens, and those societies which treat their elderly with contempt have the seeds of their own destruction within them.” ...
Economic Karma in Greece?
R. G. DAVIS
If the Greeks with some effort and success will say No to austerity then Syriza and Tsipras might have a good handle on the Banks and the EU. The Banks are necessarily caught in the grip of fright. and their own contradictions — they may have to bail out Greece. If ...
In the Eye of the Storm
LAURA CARLSEN
The hopes of Mexico’s president Felipe Calderon to have the European crisis under control before he presides over the G20 Summit have been dashed. Although the immediate threat of an economic meltdown has subsided, the crisis is far from over. Continued uncertainty in G...
The Bailout of Spain
MIKE WHITNEY
“The burden of recapitalizing insolvent banks or loss-making acquisitions of solvent banks will fall on Spanish citizens.” — Karl Whelan, economist at University College, Dublin. Before EU finance ministers approve ...
Austerity and Authoritarianism
SERGE HALIMI
Last month’s student protests in Quebec have made it clear, yet again, that austerity policies cannot be imposed except by authoritarian methods. More than a third of the students in the province struck after Jean Charest’s liberal (centrist) government decided to inc...
I’m So Bored by the Keynesians
JONATHAN M. FELDMAN
I’ve been listening to various Keynesian arguments lately and I find them boring.  In the United States, United Kingdom and Sweden, the Keynesians are critiquing the utter stupidity of the austerity agenda which is half a loaf in the battle for sanity.  Yet, the probl...
Another One Bites the Dust
MARSHALL AUERBACK
It might seem strange to invoke Freddie Mercury and Queen in the context of the eurozone, but it’s the first thought that springs to mind, as Brussels and the increasingly hapless ECB, continue to mismanage their way to financial and economic catastrophe. Yesterday, the...
Empty Talk From the G8
VIJAY PRASHAD
WHEN the Group of Seven (G7) was formed in 1974, its charge was to provide confidence to a global population uncertain about the major structural features in the world. The members of the G7 were Canada, France, Italy, Japan, the United Kingdom, the United States and West...
Beyond Indignation
DANIEL RAVENTOS and JULIE WARK
The present situation of Europe is such that it can only lead to further social and political polarisation. Less than five years ago things were so different that it seems as if we were living in another world. Since 2008 the living conditions of the great majority of Eur...
Jerry Brown’s Terrorizing Tactic
ANN ROBERTSON and BILL LEUMER
Current political developments in California highlight the gaping chasm that divides the established political process – which is routinely mislabeled as “democratic” – with the positions embraced by the vast majority of Californians. Unfortunately, Califor...
Two Days in a Forbidden City
JULIA Von STADEN
Frankfurt, Germany. It almost seemed as if the City of Frankfurt, Hessian Police and, after all, any court up to the Federal Constitutional Court (in German: Bundesverfassungsgericht, BverfG) went paranoid and hysterical all together and at once. What seem...
Failing Greece
MIKE WHITNEY
“Austerity has failed because Greek society has been destroyed, the production base has been dissolved. Our country has been in a deep recession for five consecutive years. This has never happened in Europe in peacetime.” –Alexis Tsipr...
The Austerity of the Affluent
P. SAINATH
Finance Minister Pranab Mukherjee’s stirring call for austerity tugs at the national tear ducts.  Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the finance ministry even acting on Dr. Singh’s call in 20...
The Plan to Kick Greece Out of the Eurozone
MIKE WHITNEY
“Men and women of Greece, it is with a sense of dignity and patriotic duty, that we made the decision not to betray your hopes and aspirations…The pro-bailout parties did not simply want us to support a government that would impose more austerity, ...
Taking It to the Streets in Spain
DANIEL RAVENTOS and JULIE WARK
The citizens of Spain have taken to the streets and squares in great numbers to demand their rights. Estimates vary enormously. Spain’s right-wing government claims that 22,000 people came out in Barcelona in the demonstrations on 12th May while the organiser...
The Insanity of Austerity
MARSHALL AUERBACK
Austerity during a serious recession is economically insane. It is a pro-cyclical policy that makes the recession more severe. A more severe recession is a mass destroyer of wealth and quality of life. It is pure waste. It is the primary cause of dramatic increases in pub...
We’re All Greeks Now
ROB URIE
One of the joys of being American is that every new day is a clean slate—no history, no memories, no experiences, a complete blank. This may help explain why our national conversations serve their intended purposes while being entirely content-free. Newsflash to self-de...
The Seismic Results in Greece
ERIC TOUSSAINT
At the May 6 polls, the radical left-wing coalition Syriza becomes the second “party” in numbers of voters as it moves from 4.5% at the previous elections (2009) to 16.8% (52 MPs instead of 13). It is the first party...
Austerity Backlash
JACK RANDOM
The countries that are doing very well in Europe are the Scandinavian countries. Denmark is different from Sweden, Sweden is different from Norway – but they all have strong social protection and they are all growing. The argument ...
The Meaning of “Austerity Measures”
MIKE WHITNEY
The eurozone is slipping into a recession that could have been avoided. Had policymakers provided fiscal support for stricken countries in the South and guarantees on their government bonds, (as the USG does for US Treasuries) then their economies could have continued t...
Spain Marches Toward a Depression
MIKE WHITNEY
“Other countries have gone through similar experiences. Latin American countries suffered a lost decade after 1982, and Japan has been stagnating for a quarter of a century; both have survived. But the European Union is not a country and it is unlikely to su...