Sunday, June 19, 2016

Today's Links

Today's Quote: "Sanders’ nominal “independence” was always a political fraud, designed to provide himself with “left” or “outsider” credentials, while he caucused with the Democrats and voted with them more than 95 percent of the time. His decision to end this charade is due not to the Democrats demonstrating a greater receptiveness to social reform. Rather it is due to the Democrats’ need, under conditions of growing social opposition and deep alienation to the entire political process, for the political cover that his campaign could provide." Tom Hall, WSWS



1---The Collapse of FOMC Expectations---Who are you going to believe?  The FOMC and their words, or your lying eyes looking at their graphs


(Check out the charts) When do you admit that you are wrong?  Do you do it publicly?  Do you hide it?
Do you hide it plain sight?
When I look at the graph for Fed funds for 2017 and later, I think the FOMC is admitting that they were wrong for a long time, and now hide that in plain sight.
They don’t admit that they were wrong.  They don’t admit that the economy has proven to be a lot weaker than they ever expected, and that they now expect that to persist for a while.

Nothing is changed.  Soon our policies will restore robust real GDP growth, produce inflation and then we will tighten policy and restore normalcy.
Well, that’s what their minutes and statements say.
But who are you going to believe?  The FOMC and their words, or your lying eyes looking at their graphs

2--How can the world bridge its infrastructure gap


3--The Dumbest Monetary Experimental End Game In History (Financial imbalances will eventually work themselves out...at great cost to everyone)


The global economy was, and is, essentially running on a dollar standard and the Federal Reserve of the United States increasingly became the central bank of the world. A setback in global trade would affect all parties involved, and the transmitter were the US dollar. A contraction in dollar claims as created by the world’s banking system had the ability to derail the whole global system. The ebb and flow of US dollar denominated credit gradually morphed into the global economy. The Federal Reserve had to secure dollar liquidity to the global banking system, no matter where the bank were domiciled....

Moving capital and wealth from the poor to the rich, through...depressing wages and boosting asset values, is a tax policy with rapid diminishing marginal returns, as witnessed by ever-larger amount of debt it takes to create GDP growth.
We are actually living through the end-game of the greatest Keynesian monetary experiment as we type. It was one hell of a party while it lasted, but the hangover is now over us.

4--What Brexit really means


Nobody seems to understand it’s not about Cameron or Nigel Farage, or Michael Gove vs Boris Johnson, it’s about voting for or against the EU, for or against Juncker and Tusk and five other unelected presidents having a say in one’s life.

And that’s not all either. It’s about voting to leave, or remain in, a Union that is already dead and preserved only in a zombie state. Brexit is just one vote and many more will inevitably follow. Brexit is not the first, Grexit had that ‘honor’ last year. Later this month, elections in Italy and Spain have the potential to turn into preliminary Italix and Spexit votes. And then there will be more.

The reason why these things are taking place, and will be, going forward, is that the economies of all these countries are fast deteriorating. The sole reason why people have accepted the rule of Brussels coming from far away over their daily lives, is the promise that it would make those lives better and more comfortable.
That promise has been shattered. The EU has made things worse for most Europeans, not improved them. And when seen in that light, why should people agree to continue to be told what to do by those who’ve made them poorer? There’s no democratic model in which that remotely makes sense. There are only undemocratic models left....

An economy in decline means the end of centralization and the end of existing political power structures. This is inevitable. Because both can exist only by the grace of ever growing economies. It’s what our economies are based on. It’s what our entire world view is based on. Sometime in the future historians will have a hard time understanding this, but for now it’s all we have, because it’s all we’re willing to consider: growth to infinity and beyond

5-- Huge Scandal Erupts Inside NATO: Alliance Member Germany Slams NATO "Warmongering" Against Russia



everything imploded when none other than the Foreign Minister of NATO member Germany, Frank-Walter Steinmeier, criticized NATO for having a bellicose policy towards Russia, describing it as "warmongering", the German daily Bild reported. And just like that, the entire ficitional narrative of "innocent" NATO merely reacting to evil Russian provcations has gone up in flames.

As AFP adds, Steinmeier merely highlighted all those things which rational persons have known about for a long time, namely the deployment of NATO troops near borders with Russia in the military alliance's Baltic and east European member states. However, since it comes from a NATO member, suddenly one can't accuse Russian propaganda. In fact, NATO has absolutely no planned response to just this contingency.
"What we should avoid today is inflaming the situation by warmongering and stomping boots," Steinmeier told Bild in an interview to be published Sunday.

everything imploded when none other than the Foreign Minister of NATO member Germany, Frank-Walter Steinmeier, criticized NATO for having a bellicose policy towards Russia, describing it as "warmongering", the German daily Bild reported. And just like that, the entire ficitional narrative of "innocent" NATO merely reacting to evil Russian provcations has gone up in flames.
As AFP adds, Steinmeier merely highlighted all those things which rational persons have known about for a long time, namely the deployment of NATO troops near borders with Russia in the military alliance's Baltic and east European member states. However, since it comes from a NATO member, suddenly one can't accuse Russian propaganda. In fact, NATO has absolutely no planned response to just this contingency.
"What we should avoid today is inflaming the situation by warmongering and stomping boots," Steinmeier told Bild in an interview to be published Sunday.


6--Sanders calls for supporters to back Clinton, “transform” Democratic Party


Sanders also made no mention of the fact that Clinton is planning to run arguably the most right-wing campaign in her party’s history, directing her appeal to sections of the military and the Republican Party opposed to Trump’s candidacy on the grounds that she is the more reliable choice for “commander-in-chief...

Sanders’ portrayal of Clinton as a “progressive” ally of working people to “take on Wall Street” is absurd. She is a time-tested defender of the status quo, a stooge of Wall Street and corporate America going back to her days in Arkansas, when she sat on the board of directors of Wal-Mart. As first lady, senator from New York and Obama’s secretary of state, Clinton has supported right-wing economic policies at home and war abroad.....

As he has done throughout his campaign, the Vermont senator also made no criticism of the Obama administration, which has overseen the largest transfer of wealth in US history and has helped create all the social ills that he listed in the beginning of his remarks.

It is worth remembering in light of the fact that Sanders is now serving as the chief promoter of illusions in the Democrats that until he formally registered as a Democrat in order to participate in the primaries, Sanders had spent his entire political career, dating back to the early 1970s, as either an Independent or third party candidate. If the Sanders of yesterday were to be believed, his decision to remain formally independent from the Democrats was because he did not have confidence in the capacity of that party to accept his program of “democratic socialism.” Suddenly, however, Sanders has shifted his position without giving any accounting of his own former political history.

In reality, Sanders’ nominal “independence” was always a political fraud, designed to provide himself with “left” or “outsider” credentials, while he caucused with the Democrats and voted with them more than 95 percent of the time. His decision to end this charade is due not to the Democrats demonstrating a greater receptiveness to social reform. Rather it is due to the Democrats’ need, under conditions of growing social opposition and deep alienation to the entire political process, for the political cover that his campaign could provide....

The winding down of Sanders’ campaign has forced some of the essential political content of his “political revolution” to extrude through his campaign’s fog of left-sounding rhetoric. No small number of people will begin to see through Sanders’ increasingly shopworn facade and view his pivot towards an open embrace of the Clinton campaign with contempt.

7--US Navy to continue Black Sea incursions, brushing aside Russian demands


Inherited from the USSR, Russia’s control over the trans-Eurasian commercial nexus, centered on the Black Sea, is incompatible with the designs of Washington and its allies, who are seeking to impose direct administration by Western capital over the entire Eurasian economy, large sections of which were inaccessible to finance capital during much of the 20th century due to the Russian and Chinese Revolutions.

Washington has been aggressively building up its military capacity around the Black Sea for years. Since 2010, the US Black Sea Rotational Force has organized continuous operations in the region, working with Romanian, Georgian, Ukrainian, and Bulgarian militaries out of Romania’s Airbase Mihail Kogălniceanu. The US Black Sea Force has steadily expanded and now includes more than 500 US Marines and a Combined Arms Company, complete with battle tanks.

In April, Washington reinforced its Black Sea presence with a squadron of F-22s, the Pentagon’s most advanced war plane.
Rather than countering supposed “Russian aggression,” the breakneck pace of militarization of the Black Sea is rooted in objective economic and political processes, which are driving the US and European powers into a ferocious struggle for control of the Eurasian landmass.

American government planners have been increasingly fixated on the Black Sea since the dissolution of the Soviet Union cleared the way for renewed imperialist intervention. Numerous strategy papers make clear that Washington and its NATO allies have understood for years that the Black Sea is an indispensable naval launching pad for projecting power against Russia, against the Balkans, and across the Caucasus into Central Asia.

“The Black Sea is the perfect platform through which to project military power into the very heart of Russia,” the think tank Stratfor wrote in “The Black Sea: A Net Assessment.”
From positions in the Black Sea, NATO can strike rapidly against the Russian capital city and simultaneously cut off energy supplies to Russia’s military by seizing Russia’s oil production centers in Tatarstan and Bashkortostan, Stratfor wrote.

“If a naval operation were to project power from the Black Sea toward the Don River corridor between Rostov-on-Don and Volgograd (better known by its former name, Stalingrad), Moscow would be cut off from the Russian Caucasus and the region's immense energy resources,” the think tank noted.
Beyond its value for invading and conquering Russia, the Black Sea is central to broader efforts of the American ruling class to defend its hegemony through further wars against China, Iran and any other powers the US sees as being in its way.

8--Why US Diplomats Urge Obama to Fight Assad Instead of Daesh in Syria






1 comment:

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