Category: Uncategorized Page 34 of 103

Week-end Wrap – Political Economy – April 2, 2023

by Tony Wikrent

Global population could fall to six billion with ‘unprecedented investment’ in tackling poverty, researchers say

[Sky News, via Naked Capitalism 3-30-2023]

The Club of Rome’s Earth4All model.

The forecasts in the report are in contrast to UN predictions which show the population reaching 9.7 billion in 2050 and peaking at 10.4 billion in the 2080s.

 

Elite impunity

I’ve Been Waiting For This For 55 Years

wruckusgroink, March 31, 2023 [DailyKos]

Donald Trump has been indicted… I’ve been waiting for this moment for 55 years, since 1968. That was the year that Richard Nixon won the presidency by committing treason….

Johnson knew! He knew Nixon had committed treason! Why didn’t he go public? The whole gruesome story is here…

LBJ wanted to go public with Nixon’s treason. But Clark Clifford, an architect of the CIA and a pillar of the Washington establishment, talked Johnson out of it. LBJ’s close confidant warned that the revelation would shake the foundations of the nation.

In particular, Clifford told Johnson (in a taped conversation) that “some elements of the story are so shocking in their nature that I’m wondering whether it would be good for the country to disclose the story and then possibly have [Nixon] elected. It could cast his whole administration under such doubt that I think it would be inimical to our country’s best interests.”

In other words, Clifford told LBJ that the country couldn’t handle the reality that its president was a certifiable traitor, eligible for legal execution….

….And of course the Reaganauts then happily go on to commit one of the most blatant crimes in American history that goes by the moniker “Iran-Contra.” This scheme was so flagrant, so shameless and so horrifying it still has the power to amaze. A law was passed banning the Reaganauts from providing aid to the contras of Nicaragua. So the Reaganuts set up Oliver North IN THE BASEMENT OF THE WHITE HOUSE (?!?!?) so he could wheel and deal an arrangement where the United States would SELL WEAPONS TO OUR SWORN ENEMIES THE IRANIANS, a terrorist-sponsoring state, and then funnel that money the very Contras they were forbidden, by law, to support.  What happened when this was discovered? As always, Charles Pierce, a god who graces us mere mortals with his divine presence, nails the story:

Washington decided, quite on its own, that “the country” didn’t need another “failed presidency,” so what is now known as The Village circled the wagons to rescue Reagan from his crimes. There was the customary gathering of Wise Men — The Tower Commission — which buried the true scandal in Beltway off-English and the passive voice.

….Cut to 2009. I’m sure you were as sickened and horrified by the evil thugs of the Bush-Cheney-Rumsfeld-Rove administration approving—actually ENCOURAGING—the torture of prisoners in Iraq (and then documenting it all, so the world could see). Here’s Richard Clarke, who was there and tried to stop them, on what they did….

….And so we elected Barack Obama! Time for these criminals to pay for their crimes, so no public official will ever be tempted to do something so outrageous again, right? Right?

NYT: OBAMA RELUCTANT TO LOOK INTO BUSH PROGRAMS ….

Nixon, Haldeman, Liddy, Reagan, Edwin Meese, Oliver North, George W. Bush, Dick Cheney, Donald Rumsfeld, Karl Rove…they sent Donald Trump a very clear message: “Break the law. The more outlandish the crime, the better. The punditocracy will dry-wash their hands and mumble platitudes and then protect you, because the ‘little people’ out there—so fragile!— are desperate that their illusions be preserved. Just deny, obfuscate, blame the press for spreading lies, blame the Democrats of persecution, and run out the clock.”

 

Bush’s Iraq War Lies Created a Blueprint for Donald Trump

[The Intercept, via The Big Picture 3-26-2023]

What Trump and the Republicans Don’t Understand About the Law

Michael Tomasky, March 31, 2023 [The New Republic]

But this much is clearly true: Michael Cohen went to prison in part because of the payment to Stormy Daniels (he was convicted more on tax evasion, but campaign finance violations—the payment to Daniels—were one count in his indictment). If it was illegal for Cohen to make the payment, then surely it’s illegal to have ordered the payment, which is what Trump is alleged to have done. That’s all pretty simple.

So no, this is not “Communist-level shit,” as Don Jr. tweeted. And Joe Biden had nothing to do with this. Ditto George Soros. The Republican and right-wing reaction is just insane. Trump’s been in legal jeopardy his entire life. Read the Wikipedia entry “Legal Affairs of Donald Trump”: around 3,500 lawsuits, 1,450 as defendant; 169 suits in federal court; 100 tax disputes, with 36 liens against his properties for nonpayment of taxes; settlements in 100 cases; and of course the conviction of the Trump Organization last December on 17 criminal charges. He’s been a one-man crime wave his entire adult life. The wonder is that it’s taken this long for him to be indicted….

This is going to get seriously ugly. I watched about 15 minutes of Tucker Carlson on Thursday night. Literally every sentence he spoke was an exaggeration or a lie or a willful misrepresentation of the truth (and remember, we know from the Dominion lawsuit that Carlson said he hated Trump “passionately”). He hit the “banana republic” theme and argued that this was a purely political move designed to stop Trump from getting back into the White House.

Well, no. It’s about the law. Again, we’ll be able to make a better assessment when we see the charges. But this isn’t about what Trump might do. It’s about what he (allegedly) did. And as for the precedent this sets, it’s entirely positive. Presidents should be prosecutable. They should be prosecutable even when they’re president. If someone is breaking the law, he’s breaking the law. The idea that a president has to worry about the law strikes me as a good thing, in this case and in all future cases where the people might have elected a corrupt person as president.

So this will prove to be good for the republic—if the republic survives this episode. Trump and the pro-Trump media have succeeded in creating a parallel-universe reality that at least a third of the country buys. That Joe Biden is behind this. That it’s a stop-Trump conspiracy. That George Soros is behind this. That Democrats have weaponized the justice system. And on and on. They’re enraged. And they’re armed. If you’re not really worried about that last bit, you’re not paying attention….

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Week-end Wrap – Political Economy – March 26, 2023

by Tony Wikrent

“U.S. Announces Plans To Reclassify Everyone’s Race Based On Net Worth”

[The Onion, via Naked Capitalism Water Cooler 3-25-2023]

“‘It is resolved by the U.S. Senate and House of Representatives that any American whose wealth exceeds $1 million shall be white,’ read the bipartisan legislation, which went on to state that citizens who were dissatisfied with the race they were assigned under the new criteria would be ‘free to pull themselves up by their bootstraps” in order to reach a racial category of greater privilege. ‘Now, regardless of the color of their skin, those who are rich will receive all the rights a wealthy person is entitled to in this country. Meanwhile, those with a net worth in the six figures, though they cannot be white, will still qualify as Asian, with the social scale moving downward from there to Latino and Black. This should go a long way toward making our racial stereotypes as accurate as possible.’ In an attempt to deal a final blow to the complications of intersectionality, Congress was reportedly taking up additional legislation to ensure everyone earning above the median income level was classified as a man, and everyone below it as a woman.”

 

Climate and environmental crises

Climate Change 2022: Mitigation of Climate Change.

[Working Group III Contribution to the IPCC Sixth Assessment Report, via Naked Capitalism 3-22-2023]

Twitter Thread

War
Why hypersonic weapons change everything

[Alex Krainer’s TrendCompass

It was in 2018 that Vladimir Putin took the stage to present Russia’s new hypersonic weapons. The term “hypersonic” refers to missiles that fly at speeds of 5 mach and higher. At the time, many in the west dismissed Putin’s claims and thought it was a bluff. We now know that he wasn’t bluffing. Russia is the only country in the world that has deployment-ready hypersonic missiles – not one but three types: Zircons, Kinzhals and Avantguards.…

Russia’s new Kinzhal missile flies at speeds of mach 12 to mach 15 and nothing in western defensive arsenals can stop its strike. During the war in Ukraine, Russia staged a stunning demonstration of its power. The first Kinzhal strike, delivered one month after the beginning of hostilities in Ukraine, was perhaps the most significant: Russian forces targeted a large weapons depot in Ukraine which had been built during the Soviet times to withstand a nuclear strike. It was buried 170 meters (over 500 ft) underground and protected by several layers of armored concrete.

The Kinzhal flies at altitudes of between 20 and 40 km, with a maximum range of 2,000 km. When above target, it dives perpendicularly and accelerates to 15 mach, generating enormous kinetic energy in addition to its explosive payload. That first strike with a single Kinzhal missile destroyed Ukraine’s nuke-proof underground weapons depot. This was a message for the west.

The Kinzhal was developed with the express purpose of destroying aircraft carrier strike groups…

According to Admiral Domazet, neither the western powers nor China are anywhere near having weapons like that. He explained that the critical issue with hypersonic weapons are the extreme temperatures reached during hypersonic flights on the surface of missiles, which can cause them to break apart mid-flight. Russia is the only nation that has developed special materials that enable the missiles to withstand this stress, so their flight can be controlled throughout its trajectory and delivered with pinpoint accuracy.

Western intelligence estimated that Russia had some 50 Kinzhals at the start of the war in Ukraine, and thus far it has used only 9 of them. Last week, they fired six Kinzhals in a single salvo. That too, was a message. Here’s how Domazet explained it: United States have 11 aircraft carrier strike groups. Of these, fewer than half will be active at any one time (while others are in dock for maintenance, or in preparation). Firing six Kinzhals in one go is military-speak for, “we have the capability to sink ALL of your aircraft carriers at once.”

 

Reviving the Arsenal of Democracy: Steps for Surging Defense Industrial Capacity 

[Center for Strategic and International Studies, via Naked Capitalism 3-20-2023]

Regime change in Moscow ‘definitely’ the goal, Joly says, as Canada bans Russian steel, aluminum imports 

[National Post, via Naked Capitalism 3-19-2023]

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Week-end Wrap – Political Economy – March 19, 2023

by Tony Wikrent

Global power shift

China Leads A Successful Middle East Summit

Ian Welsh, March 16, 2023

Something which has slipped past most people’s radar is that China recently acted as the intermediary for peace talks between Iran and Saudi Arabia. The two countries have been at each other’s throats for decades, funding and running operations and proxies against each other….

Now it’s obvious why the US couldn’t be involved: it hates Iran and doesn’t intend to change that any time soon. But that China was reached out to indicates that it has good relationships with Iran and Saudi Arabia and that it’s considered powerful and prestigious enough to be involved a region far from its core.

On the Saudi side this shows the continued movement away from being a US ally. It suggests continued movement towards China, and that the petro-dollar really is under significant threat.

For Iran, it suggests that the days of the US being able to coordinate sanctions over it are likely numbered. If the Sauds break out of the US bloc, one can expect the Gulf States to follow if Iran is also in the Chinese bloc: these are the regional and cultural great powers. As Chinese/Russian payments expand and with petrochemicals priced in Yuan or Rubles, and with the most important Middle Eastern powers friendly to China, the US is reduced to its core allies.

 

The Key Factor in the Saudi-Iran Deal: Absolutely No U.S. Involvement 

Murtaza Hussain, March 15 2023 [The Intercept]

Ever since it pushed aside colonial Britain and France, the United States has prided itself on being the dominant outside power in the Middle East. That lofty image was shaken this past week by the surprise announcement that Saudi Arabia, a close U.S. partner, and Iran, a longtime enemy, had negotiated a normalization agreement on their own to restore diplomatic ties. The final meeting to conclude the agreement took place in the Chinese capital of Beijing.

 

Détente between Iran and Saudi Arabia raises hopes for steps towards peace in Yemen

[france24 3-16-2023]

China and Russia capitals connected on New Silk Road for first time

Chengfan Zhao [Rail Freight, via Mike Norman Economics 3-18-2023]

Linking Moscow and Beijing is of symbolic value, but the symbolism says a lot. The big news is that Sino-Russia trade is increasing and it is not just energy that formerly went to Europe heading East. China as “the factory of the world” is now supplying Russia directly with its output, further eroding the effect of sanctions. And the trade is being settled in RIB and CYN.

 

Bank crisis

US Officials Make Non-Bailout Bailout of Silicon Valley and Signature Bank and Continue Class Warfare

Yves Smith [Naked Capitalism 3-12-2023]

…It’s also not considered polite to point out that the activities of the Palo Alto ecosystem are in aggregate extractive. Start with the venture capital funds themselves. We’ve pointed out that private equity has not beaten the S&P 500 since 2006. The underperformance of VC is longer-standing, since the dot-com glory returns rolled off. And the positive side of that ledger came from a tiny number of companies delivering moonshot returns.

In a similar vein:

https://twitter.com/HeerJeet/status/1634917645966528512?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1634917645966528512%7Ctwgr%5E84217a561dc5274ba997b9dc838a2ac4249a0404%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.nakedcapitalism.com%2F2023%2F03%2Fus-officials-make-non-bailout-bailout-of-silicon-valley-and-signature-bank-and-continue-class-warfare.html

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Moody’s Downgrades Entire U.S. Banking System; Credit Suisse Plummets. Welcome to Banking Crisis 3.0

Pam Martens and Russ Martens, March 15, 2023 [Wall Street on Parade]

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Week-end Wrap – Political Economy – March 12, 2023

by Tony Wikrent

Strategic Political Economy

“Marianne Williamson: ‘Anything Is Possible’” (interview) 

[The Nation, via Naked Capitalism Water Cooler 3-10-2023]

Your background is different from the typical presidential candidate. You’ve run for office before, but you’ve gained notoriety as someone who helps people explore their experiences, often from a spiritual perspective. Do you see that as a challenge or an advantage?

[WILLIAMSON]: It is key to my strength here and I’ll tell you why: I have dealt in my 40-year career with helping people both endure crises, and transform them. That is exactly what this country needs now: someone who can help us both endure and transform the trauma of these times. The chaos is external, but the trauma created by the chaos is internal. Secondly, because of my experience with all kinds of personality types and all kinds of people, I have a deep understanding of what a sociopath is. A sociopath is someone who simply doesn’t care.… It is because of that that I recognize as deeply as I do that an economic system—namely hyper-capitalism, namely neoliberalism—has at its root a deep spiritual darkness. It does not care. It is a sociopathic economic system that prioritizes short-term profit maximization for these huge corporate entities. It is a destructive force. And the political establishment, at its best right now, only tries to stave off its worst aspects. That’s what corporatist Democrats do. They recognize the disease to some extent, and they try to help people survive it. But they refuse to challenge the underlying corporate forces that make the return of all that pain and all that trauma inevitable.

 

The permanent recession that never arrives

[Axios, via The Big Picture 3-7-2023]

According to public opinion, the U.S. is seemingly in a semi-permanent recession, and the Fed has failed to improve matters….

• In reality, the economy is hot, unemployment is at record lows, and there’s no sign of a downturn any time soon.

[TW: Not sure if it’s stupidity or cupidity, but it remains astonishing how many journalists, academicians, politicians, and other elites continue to cling to national income accounting that clearly no longer captures what is actually happening in the economy. There can’t be a stronger signal that our economic statistical tools are misleading at best, useless at worst, than collapsing life expectancy.

Furthermore, if you reject the doctrine of mainstream classical neoliberal economics that there is no place for normative judgement and policy preferences in economics, you can easily see that world industrial productions needs to be vastly increased if we are to meet the challenges of climate change and environmental destruction. The rub, of course, is that this increase in industrial production must not occur under the reigning doctrine of “economic efficiency” as measured by lowest “price,” but by full and unhesitating investment in complete environmental protection and remediation, including, for example, designing for disassembly and recycling. [See Jon Larson’s Elegant Technology: Economic Prosperity from and Environmental Blueprint.]

From this perspective, we need at least an order of magnitude increase in electric vehicle sales and manufacturing, while ceasing entirely manufacture of internal combustion engine vehicles.

Graph: New vehicle sales, by type ]

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