Exclusively in the new print issue of CounterPunch
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 escalating cyberwar between the US and China; 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 'economics'
Health Care in an Age of American Decline
RAVI KATARI
“A heart that’s full up like a landfill.  A job that slowly kills you.  Bruises that won’t heal.  You look so tired, unhappy.  Bring down the government, they don’t speak for us.  I’ll take a quiet life, a handshake of carbon monoxide....
The Neoliberal Hoax
ROBERT HUNZIKER
Neoliberalism is the most powerful force in economic history; like a black hole in deep outer space, it consumes everything. The great prophets of neoliberal economic policies like Milton Friedman claim economic freedom is a necessary condition for political freedo...
Occupy World Street!
THOMAS H. NAYLOR
Ross Jackson is an interesting guy who has just published a very interesting and timely book entitled ...
Our Very Own Oscar Night in Rimini
MICHAEL HUDSON
I have just returned from Rimini, Italy, where I experienced one of the most amazing spectacles of my academic life. Four of us associated with the University of Missouri at Kansas City (UMKC) were invited to lecture for three days on Modern Monetary Theory (MMT) and...
Third World Capitalism
ROBERT HUNZIKER
How did this happen? America, the czar of capitalism, is becoming a third world country! According to the most recent U.S. Census Bureau report 46.2 million Americans are poor. Of course, the naysaying dissenters claim poor families, as defined in the U.S., include...
Economics 101
PAUL CRAIG ROBERTS
Last Friday (January 27) the US Bureau of Economic Analysis announced its advance estimate that in the last quarter of 2011 the economy grew at an annual rate of 2.8% in real inflation-adjusted terms, an increase from the annual rate of growth in the third quarter. ...
Austerity Does Not Grow the Economy
DEAN BAKER
The Federal Reserve Board issued new projections for the economy last week, and they are not pretty. It projects the unemployment rate will still be 8.2 percent at the end of this year, 7.4 percent at the end of 2013, and 6.7 percent at the end of 2014. To put this in ...
Draghi’s 489 Billion Euro Fakery
MIKE WHITNEY
ECB president Mario Draghi’s new lending facility–the Long-Term Refinancing Operation–has helped to pull the financial system back from the brink of another Lehman-type catastrophe, but it doesn’t address the fundamental problems that created the c...
The Real Reagan Economy
MICHAEL WALKER
Since the start of the presidential primary campaign, Republican candidates have missed few opportunities to laud the achievements of conservative hero and former president Ronald Reagan, or to portray themselves as his worthy successor. As Michele Bachmann declared after...
Woody Guthrie at 100
BILL MOYERS and MICHAEL WINSHIP
The traveling medicine show known as the race for the Republican presidential nomination has moved on from Iowa and New Hampshire, and all eyes are now on South Carolina. Well, not exactly all.  At the moment, our eyes are fixed on some big news from the great sta...
America’s Lost Decade
MARK WEISBROT
The American Economic Association’s annual meetings are a scary sight, with thousands of economists all gathered in the same place – a veritable weapon of mass destruction.  Chicago was the lucky city for 2012 this past weekend, and I had just finished participating ...
The Bogus Case Against the Minimum Wage Hike
DEAN BAKER AND JOHN SCHMITT
Eight states and one city (San Francisco) raised their minimum wage this week, providing a pay raise to just over ...
How to Succeed in Hedge Funding
PAUL BUCHHEIT
It’s an exciting time for you guys. You know you can beat those hedge fund managers. You’re better educated, you’re ambitious and creative. Go for $10 billion. Or maybe, a few years from now, you’ll be the first trillion dollar man! HereR...
The International Context of Global Outrage
ERIC TOUSSAINT
In 2011, social and political rebellion has re-emerged in the streets and on squares all over the world. It has appeared in new forms and been given new names: the Arab Spring, the Indignados, the Occupy Wall Street (OWS) movement. The main regions affec...
Europe’s Deadly Transition From Social Democracy to Oligarchy
MICHAEL HUDSON
The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to ...
Another Summit Fiasco
MIKE WHITNEY
When the book is finally closed on this week’s EU summit, it’ll be interesting to see what people remember the most. Will it be the proposed changes to the Lisbon Treaty, the new steps towards fiscal integration or the disgraceful behavior of David Cameron?...
Why Managed Democracy Always Fails in a Crisis
BORIS KAGARLITSKY
The crisis is developing exactly as expected. The inability of the authorities to cope with the rising wave of social problems has naturally spilled into the political sphere. At the same time, the mechanism of “managed democracy” has yet agai...
Austerity for Europe
MARK WEISBROT
The house is on fire and the owners are arguing about what kind of safety regulations should be implemented in the future so as to prevent these types of fires.  That is what appears to be going on in the eurozone right now, as European leaders try to reach agreement on ...
The Baltic Tigers’ False Prophets of Austerity
JEFFREY SOMMERS, ARUNAS JUSKA, & MICHAEL HUDSON
The Baltic states have discovered a new way to cut unemployment and cut budgets for social services: emigration. If enough people of working age are forced to leave to find work abroad, unemployment and social service budgets will both drop. This simple mathematics...
The Decline of Imperial America
DOUG DOWD
Those reading Morris Berman’s Why America Failed: The Roots of Imperial Decline ...
Von Hayek Revisited – Warts and All
DAVID WARSH
Everyone in Boston of a certain age knows the story of Rosie Ruiz, the marathoner who crossed the Boston finish line in 1980 at 2:31.56, flabby thighs and all, having barely broken a sweat.  Despite mounting skepticism, she basked in the glory of having run the third-fas...
The One Percent Solution in Europe
SAUL LANDAU
Last month a Super Committee (12Members of Congress) failed to decide — fortunately — our economic destiny: where our tax money would go – or not. Yes, capitalism failed again. And with it went democratic procedures in the political arena. Big Facts: ...
An Irreversible Slide?
MIKE WHITNEY
“In every crisis there’s a point of no return….I’m increasingly convinced we’ve already passed that point of no return in Europe. The banks won’t lend to each other, the Germans won’t do Eurobonds, and the ECB won’t act as a lender of l...
Sham Wrestling at the World Economic Forum
P. SAINATH
The comforting thing about those sham wrestling ‘championships’ on television is that everybody knows they are a farce. Steroid-stuffed Cro-Magnons  stomp the living daylights out of  painkiller-primed  Neanderthals.  Good, unclean fun. The results are safely pred...
Who’s Talking About Corporate Profits?
QUENTIN GEE
Around this time last year, both the New York Times and the ...
Sucker Punched By Speculation
ALAN FARAGO
This terrible idea will not die: that the only way to revive the US economy is to reduce mortgages on homes and property purchased at speculative values. The fact that so many homeowners (like me) did not buy more house than they could afford, did not buy into the specula...
De-Fault Is Ours
STEVE FRASER
In 1729, when Ireland had fallen into a state of utter destitution at the hands of its British landlords, Jonathan Swift published a ...
Just Another Goldman Sachs Take Over
PAUL CRAIG ROBERTS
On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35 per cent of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private bank...
Two Cheers for “The Story of Stuff”
KEVIN CARSON
If you haven’t watched Annie Leonard’s “The Story of Stuff,” I suggest you do. These videos include detailed examinations of the waste economy, subsidized inefficiency and planned obsolescence. A recent installment, “The Story of Broke,” itemizes wastef...
The Roads To War And Economic Collapse
PAUL CRAIG ROBERTS
November 23, 2011: The day before the Thanksgiving holiday brought three extraordinary news items.  One was the report on the Republican presidential campaign debate. One was the Russian President’s statement about his country’s response to Washington’s mi...
Let Them In
RALPH NADER
From New York City to Oakland, and several cities in between, the police, on orders from city officials, have smashed the Occupy encampments and evicted the protestors from public parks and spaces. More politicians from Congress to the state and local level want the Occu...
Meet the Global Ruling Class
STEVEN COLATRELLA
Padua, Italy. Making economics and politics appear separate is one of the chief characteristics of capitalism as a system of class rule, as Ellen Mieksins Wood has pointed out in many of her writings. But it is how politics is manifested AS economics and e...
Past the Point of No Return
MIKE WHITNEY
“Eurozone banks’ demand for European Central Bank funding surged to a two-year high on Tuesday, as fast spreading sovereign debt worries left lending markets virtually frozen and  the ECB the only available funding option for many institutions....
The Puzzling Persistance of APEC
WALDEN BELLO
The Asia Pacific Economic Cooperation has just concluded its annual summit in Honolulu, once President Obama’s home turf. It will probably be most remembered for the traffic jams it created in the Waikiki Beach area, to the consternation of residents and tourists alike....
A Global Revolt
ROGER BURBACH
Editor’s Note: Occupy Oakland is part of a global movement that is questioning the basic structures of the political and economic system to an extent not seen since 1968. Whether it will succeed in changing these structures is unclear. But it has already...
Don’t Stop Now
REBECCA SOLNIT
Last Tuesday, I awoke in lower Manhattan to the whirring of helicopters overhead, a war-zone sound that persisted all day and then started up again that Thursday morning, the two-month anniversary of Occupy Wall Street and a big day of demonstrations in New York City. It ...
Who Benefits From Austerity Politics?
ROB URIE
With so called “technocrats” being installed in Italy and Greece to lead governments through austerity programs, the discussion of who benefits from these programs and who pays remains largely in the background. When benefits are discussed they are usually couched in ...
Menu for Today’s Tricky Planet: Use Your Head
GABRIEL KOLKO
We live in an enigmatic age, far more complex as the years go by and certainly since the disappearance of the Soviet Union in 1991.  With the failure of so many reformers avoidance of  cynicism about all causes is now an overwhelming challenge.  In a sense, it is the r...
Vulture Funds Gorge on Stricken Economies
OLAFUR ARNARSON, MICHAEL HUDSON and GUNNAR TOMASSON
The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into question just what should be a “fair value” for these debt obligations. Should “fair value” reflect what debtors ca...
Europe’s Crash Landing
MIKE WHITNEY
“Italy is now mathematically beyond the point of no return.” –Barclays Capital  The situation in Europe gets more depressing by the day. Policymakers have waited too long and now events are beyond their co...
Street Messiahs
FARZANA VERSEY
“America I’ve given you all and now I’m nothing…I can’t stand my own mind.” – Allen Ginsberg Space is being occupied. What does that space stand for? What does its occupation convey? There are q...
Keynesian Myths and Illusions
ISMAEL HOSSEIN-ZADEH
The Keynesian view that the government can fine tune the economy through “appropriate” fiscal and monetary policies to maintain continuous growth at or near full employment is based on the idea that capitalism can be controlled by the state and managed by professional...
Fury Mounts Among Greek People
PATRICK COCKBURN
Athens Greece last week  was paralysed by a 48-hour general strike that began Wednesday and cast doubt on the unpopular government’s ability to implement reforms demanded by the European Union in return for further bailout money. Black-maske...
Totally Corrupt America
PAUL CRAIG ROBERTS
Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of...
Destroying Estonia
JEFFREY SOMMERS and MARKKU SIPPOLA
The elite financial press continues to promote  their Baltic austerity model.  Last month in CounterPunch,  Michael Hudson and I showed how Anders Aslund, from the bank-funded Petersen Institute, kicked the snowball down the hill to roll and grow regarding the...
Is Capitalism Preparing to Bury Itself?
MURRAY DOBBIN
Where is Henry Ford when you need him? You may remember Henry — the ruthless industrialist who nonetheless refused to be hobbled by suicidal ideology when it came to doing business. He realized as his workers cranked thousands of new cars off the assembly lin...
The Decline and Fall of Just About Everyone
PEPE ESCOBAR
More than 10 years ago, before 9/11, Goldman Sachs was predicting that the BRIC countries (Brazil, Russia, India, China) would make the world economy’s top ten — but not until 2040.  Skip a decade and the Chinese economy already has the number two spot all to its...
How the Cricket Caucus Made a Killing
P. SAINATH
Mumbai Air India might not be doing as well we’d like it to. But the braveheart who flew it fearlessly into dense clouds of debt is doing okay. Praful Patel (who no longer holds the aviation portfolio) added, on average, over half a million rupees (j...
The Sotheby’s Economy
ARI PAUL
While most of America suffers through recession and unemployment, luxury retailers and service providers are doing quite well. With corporate profits remaining high, the moneyed elites continue to enjoy 5-star hotels, private jets, fancy jewelry, and splendid works of art...
Disaster in the Eurozone
MIKE WHITNEY
Martin Tomley previously worked at a major US bank. Now he writes on financial matters and the economy at ...