Shame: the painful feeling arising from the consciousness of something dishonorable, improper, ridiculous, etc., done by oneself or another;.disgrace; ignominy
Today, and for the second time, the U.S. Supreme Court shirked its duty and responsibility to hear a case that has direct bearing on whether Barack Hussein Obama aka Barry Soetoro, aka Barry Obama, aka Barack Dunham, aka Barry Dunham, is a legitimate candidate to be America's next president. Without question, should the U.S. Supreme Court have ruled Obama ineligible to qualify as a candidate for the presidency, it would have created an unprecedented upheaval, but we the people have the right to a legitimate president no matter the pain of completing the process. The Founding Fathers and colonials gave their honor, their money and their blood as principled individuals. They stood their ground and so shall we the people despite the cowardly path chosen by these justices.
The stonewalling by Obama and his legal legions in Obama's refusal to respond to the allegations that he does not meet constitutional requirements for citizenship redefines hubris. One can imagine his joy today when the order was posted that the U.S. Supreme Court again spit on the U.S. Constitution for political expediency and out of sheer cowardice. There can be no other explanation for the court refusing to hear the Leo Donofrio and Cort Wrotnowski cases.
As Leo said in a recent post on his web site, it doesn't matter what the cell damaged media lap dogs say about these cases. What matters is the supreme law of the land. Today's DENIED by the "high" court makes it perfectly clear that those nine justices don't have the guts to take on such a huge decision. Never mind the million plus letters that were sent to the court by Americans who demand the supreme law of the land be upheld. Never mind the pompous blathering by politicos on web sites who care nothing for the U.S. Constitution. The one and only question was and still remains: Was Barack Hussein Obama a natural born citizen at birth?
There are still a number of cases on going. The electoral college delegates meet at all 50 state capitols today to vote for this impostor. What happens next will depend on what these electors do during the vote. Further updates will follow.
There has been so much disinformation and distortions about all the cases relating to this issue on the Internet. Having read a great deal of the blarney out there by bloggers, TV and radio talk show hosts and columnists who support Obama, I can tell you 99.999% of them never read a single word in any of the briefs submitted to the Supreme Court. Their own words condemn them as either intellectually lazy or simply ignorant.
Emotions have run high over this controversy which all could have been avoided had Obama simply come clean about his citizenship. Instead, this impostor has chosen to commit a fraud against the American people that, should he be sworn in, will simply prolong the inevitable. Obama is going down, it's just a matter of time. If sworn in, he will begin his presidency the same as the famous Clinton duo: drowning in controversy and rage from Americans who still believe in the supreme law of the land.
I fully understand time is an issue for Americans. However, to really understand how serious the question is regarding Obama's eligibility, one must take the time to at least read some of the most factual information available. If Obama could have proven his citizenship, he would have done so many, many months ago. He's bluffing we the people will simply go away and allow him to be sworn in as Impostor in Chief. That isn't going to happen.
In an effort to make things easier and because I'm not certain how long Leo will leave his web site up and running, I have put several documents into the audio section of my web site. You can listen via the computer, download to a CD and listen on the road, in commute traffic, on a train or plane. Share these recordings with friends, family and those who still believe we are a nation of laws, not lies. These recording include Leo's submission to the U.S. Supreme Court, Cort's submission and additional filing with the court, some of the material from Leo's site (with his permission) and a critically important column from Dr. Edwin Vieira on what will happen should Obama get sworn into office.
Those recordings can be found here:
http://www.devvy.net/audio/dec08/rense/dec15_commentary.html
Dr. Edwin Vieira's column is in the link above. You can read the full text of his column here:
http://www.newswithviews.com/Vieira/edwin186.htm
The reason Edwin's column is so important is because lays out what will happen if Obama signs another unconstitutional "hate crime" law or anti-Second Amendment law. The defendant in the case can then go after Obama as his defense. Edwin also details how one member of the House of Representatives and one member of the Senate can challenge the electoral college votes.
This case is absolutely germane to the issue and part of it (to read the entire decision would have taken a couple of hours) is in the new audio section cited above.
U.S. v. WONG KIM ARK, 169 U.S. 649 (1898)
UNITED STATES
v.
WONG KIM ARK.
No. 132.
March 28, 1898
The full text may be read here:
http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl? court=us&vol=169&invol=649
Leo Donofrio's web site is:
http://www.blogtext.org/naturalborncitizen/
and:
http://naturalborncitizen.wordpress.com/
Phil Berg's web site is:
http://www.obamacrimes.com/
Dr. Orly Taitz's web site is:
http://www.drorly.blogspot.com/
United States Justice Foundation:
http://www.usjf.net/
WND has a current and very well done news item on this issue:
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=83693
Showing posts with label Obama. Show all posts
Showing posts with label Obama. Show all posts
Friday, December 19, 2008
Obama and His Stealth Socialism Double Speak
During his NAACP speech earlier this month, Sen. Obama repeated the term at least four times. "I've been working my entire adult life to help build an America where economic justice is being served," he said at the group's 99th annual convention in Cincinnati.
And as president, "we'll ensure that economic justice is served," he asserted. "That's what this election is about." Obama never spelled out the meaning of the term, but he didn't have to. His audience knew what he meant, judging from its thumping approval.
It's the rest of the public that remains in the dark, which is why we're launching this special educational series.
"Economic justice" simply means punishing the successful and redistributing their wealth by government fiat. It's a euphemism for socialism.
In the past, such rhetoric was just that — rhetoric. But Obama's positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.
In his latest memoir he shares that he'd like to "recast" the welfare net that FDR and LBJ cast while rolling back what he derisively calls the "winner-take-all" market economy that Ronald Reagan reignited (with record gains in living standards for all).
Obama also talks about "restoring fairness to the economy," code for soaking the "rich" — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
It's clear from a close reading of his two books that he's a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor.
Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old.
Of course, Obama is too smart to try to smuggle such hoary collectivist garbage through the front door. He's disguising the wealth transfers as "investments" — "to make America more competitive," he says, or "that give us a fighting chance," whatever that means.
Among his proposed "investments":
• "Universal," "guaranteed" health care.
• "Free" college tuition.
• "Universal national service" (a la Havana).
• "Universal 401(k)s" (in which the government would match contributions made by "low- and moderate-income families").
• "Free" job training (even for criminals).
• "Wage insurance" (to supplement dislocated union workers' old income levels).
• "Free" child care and "universal" preschool.
• More subsidized public housing.
• A fatter earned income tax credit for "working poor."
• And even a Global Poverty Act that amounts to a Marshall Plan for the Third World, first and foremost Africa.
His new New Deal also guarantees a "living wage," with a $10 minimum wage indexed to inflation; and "fair trade" and "fair labor practices," with breaks for "patriot employers" who cow-tow to unions, and sticks for "nonpatriot" companies that don't.
That's just for starters — first-term stuff.
Obama doesn't stop with socialized health care. He wants to socialize your entire human resources department — from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike.
You can see why Obama was ranked, hands-down, the most liberal member of the Senate by the National Journal. Some, including colleague and presidential challenger John McCain, think he's the most liberal member in Congress.
But could he really be "more left," as McCain recently remarked, than self-described socialist Sen. Bernie Sanders (for whom Obama has openly campaigned, even making a special trip to Vermont to rally voters)?
Obama's voting record, going back to his days in the Illinois statehouse, says yes. His career path — and those who guided it — leads to the same unsettling conclusion.
The seeds of his far-left ideology were planted in his formative years as a teenager in Hawaii — and they were far more radical than any biography or profile in the media has portrayed.
A careful reading of Obama's first memoir, "Dreams From My Father," reveals that his childhood mentor up to age 18 — a man he cryptically refers to as "Frank" — was none other than the late communist Frank Marshall Davis, who fled Chicago after the FBI and Congress opened investigations into his "subversive," "un-American activities."
As Obama was preparing to head off to college, he sat at Davis' feet in his Waikiki bungalow for nightly bull sessions. Davis plied his impressionable guest with liberal doses of whiskey and advice, including: Never trust the white establishment.
"They'll train you so good," he said, "you'll start believing what they tell you about equal opportunity and the American way and all that sh**."
After college, where he palled around with Marxist professors and took in socialist conferences "for inspiration," Obama followed in Davis' footsteps, becoming a "community organizer" in Chicago.
His boss there was Gerald Kellman, whose identity Obama also tries to hide in his book. Turns out Kellman's a disciple of the late Saul "The Red" Alinsky, a hard-boiled Chicago socialist who wrote the "Rules for Radicals" and agitated for social revolution in America.
The Chicago-based Woods Fund provided Kellman with his original $25,000 to hire Obama. In turn, Obama would later serve on the Woods board with terrorist Bill Ayers of the Weather Underground. Ayers was one of Obama's early political supporters.
After three years agitating with marginal success for more welfare programs in South Side Chicago, Obama decided he would need to study law to "bring about real change" — on a large scale.
While at Harvard Law School, he still found time to hone his organizing skills. For example, he spent eight days in Los Angeles taking a national training course taught by Alinsky's Industrial Areas Foundation. With his newly minted law degree, he returned to Chicago to reapply — as well as teach — Alinsky's "agitation" tactics.
(A video-streamed bio on Obama's Web site includes a photo of him teaching in a University of Chicago classroom. If you freeze the frame and look closely at the blackboard Obama is writing on, you can make out the words "Power Analysis" and "Relationships Built on Self Interest" — terms right out of Alinsky's rule book.)
Amid all this, Obama reunited with his late father's communist tribe in Kenya, the Luo, during trips to Africa.
As a Nairobi bureaucrat, Barack Hussein Obama Sr., a Harvard-educated economist, grew to challenge the ruling pro-Western government for not being socialist enough. In an eight-page scholarly paper published in 1965, he argued for eliminating private farming and nationalizing businesses "owned by Asians and Europeans."
His ideas for communist-style expropriation didn't stop there. He also proposed massive taxes on the rich to "redistribute our economic gains to the benefit of all."
"Theoretically, there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed," Obama Sr. wrote. "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."
Taxes and "investment" . . . the fruit truly does not fall far from the vine.
(Voters might also be interested to know that Obama, the supposed straight shooter, does not once mention his father's communist leanings in an entire book dedicated to his memory.)
In Kenya's recent civil unrest, Obama privately phoned the leader of the opposition Luo tribe, Raila Odinga, to voice his support. Odinga is so committed to communism he named his oldest son after Fidel Castro.
With his African identity sewn up, Obama returned to Chicago and fell under the spell of an Afrocentric pastor. It was a natural attraction. The Rev. Jeremiah Wright preaches a Marxist version of Christianity called "black liberation theology" and has supported the communists in Cuba, Nicaragua and elsewhere.
Obama joined Wright's militant church, pledging allegiance to a system of "black values" that demonizes white "middle classness" and other mainstream pursuits.
(Obama in his first book, published in 1995, calls such values "sensible." There's no mention of them in his new book.)
With the large church behind him, Obama decided to run for political office, where he could organize for "change" more effectively. "As an elected official," he said, "I could bring church and community leaders together easier than I could as a community organizer or lawyer."
He could also exercise real, top-down power, the kind that grass-roots activists lack. Alinsky would be proud.
Throughout his career, Obama has worked closely with a network of stone-cold socialists and full-blown communists striving for "economic justice."
He's been traveling in an orbit of collectivism that runs from Nairobi to Honolulu, and on through Chicago to Washington.
Yet a recent AP poll found that only 6% of Americans would describe Obama as "liberal," let alone socialist.
Public opinion polls usually reflect media opinion, and the media by and large have portrayed Obama as a moderate "outsider" (the No. 1 term survey respondents associate him with) who will bring a "breath of fresh air" to Washington.
The few who have drilled down on his radical roots have tended to downplay or pooh-pooh them. Even skeptics have failed to connect the dots for fear of being called the dreaded "r" word.
But too much is at stake in this election to continue mincing words.
Both a historic banking crisis and 1970s-style stagflation loom over the economy. Democrats, who already control Congress, now threaten to filibuster-proof the Senate in what could be a watershed election for them — at both ends of Pennsylvania Avenue.
A perfect storm of statism is forming, and our economic freedoms are at serious risk.
Those who care less about looking politically correct than preserving the free-market individualism that's made this country great have to start calling things by their proper name to avert long-term disaster.
WHAT CAN I SAY, OBAMA IS GOIN TO BE THE POSTER CHILD FOR USHERING IN THE FINAL STAGES OF THE NORTH AMERICAN UNION AND A DISTRUCTION OF THE CONSTITUTION. STATES RIGHTS, NATIONAL SOVEREIGNTY THE BILL OF RIGHTS, FREE SPEACH AND A WHOLE LIST OF SACRED RIGHTS AS FREE MEN ARE ABOUT TO DIE...PLEASE WAKE UP PEOPLE...FOR THE LOVE OF GOD AND ALL OUR CHILDREN...DO NOT LET THIS PRESIDENT DO THIS TO OUR COUNTRY. HE IS A PUPPET AND ITS IMPERATIVE TO UNDERSTAND THAT. LOOK AT HIS CABINET...ALL EX CLINTONS AND CFR MEMBERS WHO WRITE ABOUT NWO AND WAR AND SOCIALISM. THESE PEOPLE ARE ALL SHILLS. HE HAS DONE NOTHING BUT TOE THE NWO LINE OF THE ZIONIST AND FREE MASONS AND ELITE BANKING FAMILIES. IF ANYONE IN OFFICE ISN'T OUTRAGED ABOUT THE FEDERAL RESERVE BANK, THEN THEY ARE FULL OF SHIT. THE FED KILLED AMERICA. DONT KEEP IGNORING THE TRUTH!!!!
And as president, "we'll ensure that economic justice is served," he asserted. "That's what this election is about." Obama never spelled out the meaning of the term, but he didn't have to. His audience knew what he meant, judging from its thumping approval.
It's the rest of the public that remains in the dark, which is why we're launching this special educational series.
"Economic justice" simply means punishing the successful and redistributing their wealth by government fiat. It's a euphemism for socialism.
In the past, such rhetoric was just that — rhetoric. But Obama's positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.
In his latest memoir he shares that he'd like to "recast" the welfare net that FDR and LBJ cast while rolling back what he derisively calls the "winner-take-all" market economy that Ronald Reagan reignited (with record gains in living standards for all).
Obama also talks about "restoring fairness to the economy," code for soaking the "rich" — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
It's clear from a close reading of his two books that he's a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor.
Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old.
Of course, Obama is too smart to try to smuggle such hoary collectivist garbage through the front door. He's disguising the wealth transfers as "investments" — "to make America more competitive," he says, or "that give us a fighting chance," whatever that means.
Among his proposed "investments":
• "Universal," "guaranteed" health care.
• "Free" college tuition.
• "Universal national service" (a la Havana).
• "Universal 401(k)s" (in which the government would match contributions made by "low- and moderate-income families").
• "Free" job training (even for criminals).
• "Wage insurance" (to supplement dislocated union workers' old income levels).
• "Free" child care and "universal" preschool.
• More subsidized public housing.
• A fatter earned income tax credit for "working poor."
• And even a Global Poverty Act that amounts to a Marshall Plan for the Third World, first and foremost Africa.
His new New Deal also guarantees a "living wage," with a $10 minimum wage indexed to inflation; and "fair trade" and "fair labor practices," with breaks for "patriot employers" who cow-tow to unions, and sticks for "nonpatriot" companies that don't.
That's just for starters — first-term stuff.
Obama doesn't stop with socialized health care. He wants to socialize your entire human resources department — from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike.
You can see why Obama was ranked, hands-down, the most liberal member of the Senate by the National Journal. Some, including colleague and presidential challenger John McCain, think he's the most liberal member in Congress.
But could he really be "more left," as McCain recently remarked, than self-described socialist Sen. Bernie Sanders (for whom Obama has openly campaigned, even making a special trip to Vermont to rally voters)?
Obama's voting record, going back to his days in the Illinois statehouse, says yes. His career path — and those who guided it — leads to the same unsettling conclusion.
The seeds of his far-left ideology were planted in his formative years as a teenager in Hawaii — and they were far more radical than any biography or profile in the media has portrayed.
A careful reading of Obama's first memoir, "Dreams From My Father," reveals that his childhood mentor up to age 18 — a man he cryptically refers to as "Frank" — was none other than the late communist Frank Marshall Davis, who fled Chicago after the FBI and Congress opened investigations into his "subversive," "un-American activities."
As Obama was preparing to head off to college, he sat at Davis' feet in his Waikiki bungalow for nightly bull sessions. Davis plied his impressionable guest with liberal doses of whiskey and advice, including: Never trust the white establishment.
"They'll train you so good," he said, "you'll start believing what they tell you about equal opportunity and the American way and all that sh**."
After college, where he palled around with Marxist professors and took in socialist conferences "for inspiration," Obama followed in Davis' footsteps, becoming a "community organizer" in Chicago.
His boss there was Gerald Kellman, whose identity Obama also tries to hide in his book. Turns out Kellman's a disciple of the late Saul "The Red" Alinsky, a hard-boiled Chicago socialist who wrote the "Rules for Radicals" and agitated for social revolution in America.
The Chicago-based Woods Fund provided Kellman with his original $25,000 to hire Obama. In turn, Obama would later serve on the Woods board with terrorist Bill Ayers of the Weather Underground. Ayers was one of Obama's early political supporters.
After three years agitating with marginal success for more welfare programs in South Side Chicago, Obama decided he would need to study law to "bring about real change" — on a large scale.
While at Harvard Law School, he still found time to hone his organizing skills. For example, he spent eight days in Los Angeles taking a national training course taught by Alinsky's Industrial Areas Foundation. With his newly minted law degree, he returned to Chicago to reapply — as well as teach — Alinsky's "agitation" tactics.
(A video-streamed bio on Obama's Web site includes a photo of him teaching in a University of Chicago classroom. If you freeze the frame and look closely at the blackboard Obama is writing on, you can make out the words "Power Analysis" and "Relationships Built on Self Interest" — terms right out of Alinsky's rule book.)
Amid all this, Obama reunited with his late father's communist tribe in Kenya, the Luo, during trips to Africa.
As a Nairobi bureaucrat, Barack Hussein Obama Sr., a Harvard-educated economist, grew to challenge the ruling pro-Western government for not being socialist enough. In an eight-page scholarly paper published in 1965, he argued for eliminating private farming and nationalizing businesses "owned by Asians and Europeans."
His ideas for communist-style expropriation didn't stop there. He also proposed massive taxes on the rich to "redistribute our economic gains to the benefit of all."
"Theoretically, there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed," Obama Sr. wrote. "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."
Taxes and "investment" . . . the fruit truly does not fall far from the vine.
(Voters might also be interested to know that Obama, the supposed straight shooter, does not once mention his father's communist leanings in an entire book dedicated to his memory.)
In Kenya's recent civil unrest, Obama privately phoned the leader of the opposition Luo tribe, Raila Odinga, to voice his support. Odinga is so committed to communism he named his oldest son after Fidel Castro.
With his African identity sewn up, Obama returned to Chicago and fell under the spell of an Afrocentric pastor. It was a natural attraction. The Rev. Jeremiah Wright preaches a Marxist version of Christianity called "black liberation theology" and has supported the communists in Cuba, Nicaragua and elsewhere.
Obama joined Wright's militant church, pledging allegiance to a system of "black values" that demonizes white "middle classness" and other mainstream pursuits.
(Obama in his first book, published in 1995, calls such values "sensible." There's no mention of them in his new book.)
With the large church behind him, Obama decided to run for political office, where he could organize for "change" more effectively. "As an elected official," he said, "I could bring church and community leaders together easier than I could as a community organizer or lawyer."
He could also exercise real, top-down power, the kind that grass-roots activists lack. Alinsky would be proud.
Throughout his career, Obama has worked closely with a network of stone-cold socialists and full-blown communists striving for "economic justice."
He's been traveling in an orbit of collectivism that runs from Nairobi to Honolulu, and on through Chicago to Washington.
Yet a recent AP poll found that only 6% of Americans would describe Obama as "liberal," let alone socialist.
Public opinion polls usually reflect media opinion, and the media by and large have portrayed Obama as a moderate "outsider" (the No. 1 term survey respondents associate him with) who will bring a "breath of fresh air" to Washington.
The few who have drilled down on his radical roots have tended to downplay or pooh-pooh them. Even skeptics have failed to connect the dots for fear of being called the dreaded "r" word.
But too much is at stake in this election to continue mincing words.
Both a historic banking crisis and 1970s-style stagflation loom over the economy. Democrats, who already control Congress, now threaten to filibuster-proof the Senate in what could be a watershed election for them — at both ends of Pennsylvania Avenue.
A perfect storm of statism is forming, and our economic freedoms are at serious risk.
Those who care less about looking politically correct than preserving the free-market individualism that's made this country great have to start calling things by their proper name to avert long-term disaster.
WHAT CAN I SAY, OBAMA IS GOIN TO BE THE POSTER CHILD FOR USHERING IN THE FINAL STAGES OF THE NORTH AMERICAN UNION AND A DISTRUCTION OF THE CONSTITUTION. STATES RIGHTS, NATIONAL SOVEREIGNTY THE BILL OF RIGHTS, FREE SPEACH AND A WHOLE LIST OF SACRED RIGHTS AS FREE MEN ARE ABOUT TO DIE...PLEASE WAKE UP PEOPLE...FOR THE LOVE OF GOD AND ALL OUR CHILDREN...DO NOT LET THIS PRESIDENT DO THIS TO OUR COUNTRY. HE IS A PUPPET AND ITS IMPERATIVE TO UNDERSTAND THAT. LOOK AT HIS CABINET...ALL EX CLINTONS AND CFR MEMBERS WHO WRITE ABOUT NWO AND WAR AND SOCIALISM. THESE PEOPLE ARE ALL SHILLS. HE HAS DONE NOTHING BUT TOE THE NWO LINE OF THE ZIONIST AND FREE MASONS AND ELITE BANKING FAMILIES. IF ANYONE IN OFFICE ISN'T OUTRAGED ABOUT THE FEDERAL RESERVE BANK, THEN THEY ARE FULL OF SHIT. THE FED KILLED AMERICA. DONT KEEP IGNORING THE TRUTH!!!!
Obama and His Stealth Socialism Double Speak
During his NAACP speech earlier this month, Sen. Obama repeated the term at least four times. "I've been working my entire adult life to help build an America where economic justice is being served," he said at the group's 99th annual convention in Cincinnati.
And as president, "we'll ensure that economic justice is served," he asserted. "That's what this election is about." Obama never spelled out the meaning of the term, but he didn't have to. His audience knew what he meant, judging from its thumping approval.
It's the rest of the public that remains in the dark, which is why we're launching this special educational series.
"Economic justice" simply means punishing the successful and redistributing their wealth by government fiat. It's a euphemism for socialism.
In the past, such rhetoric was just that — rhetoric. But Obama's positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.
In his latest memoir he shares that he'd like to "recast" the welfare net that FDR and LBJ cast while rolling back what he derisively calls the "winner-take-all" market economy that Ronald Reagan reignited (with record gains in living standards for all).
Obama also talks about "restoring fairness to the economy," code for soaking the "rich" — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
It's clear from a close reading of his two books that he's a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor.
Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old.
Of course, Obama is too smart to try to smuggle such hoary collectivist garbage through the front door. He's disguising the wealth transfers as "investments" — "to make America more competitive," he says, or "that give us a fighting chance," whatever that means.
Among his proposed "investments":
• "Universal," "guaranteed" health care.
• "Free" college tuition.
• "Universal national service" (a la Havana).
• "Universal 401(k)s" (in which the government would match contributions made by "low- and moderate-income families").
• "Free" job training (even for criminals).
• "Wage insurance" (to supplement dislocated union workers' old income levels).
• "Free" child care and "universal" preschool.
• More subsidized public housing.
• A fatter earned income tax credit for "working poor."
• And even a Global Poverty Act that amounts to a Marshall Plan for the Third World, first and foremost Africa.
His new New Deal also guarantees a "living wage," with a $10 minimum wage indexed to inflation; and "fair trade" and "fair labor practices," with breaks for "patriot employers" who cow-tow to unions, and sticks for "nonpatriot" companies that don't.
That's just for starters — first-term stuff.
Obama doesn't stop with socialized health care. He wants to socialize your entire human resources department — from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike.
You can see why Obama was ranked, hands-down, the most liberal member of the Senate by the National Journal. Some, including colleague and presidential challenger John McCain, think he's the most liberal member in Congress.
But could he really be "more left," as McCain recently remarked, than self-described socialist Sen. Bernie Sanders (for whom Obama has openly campaigned, even making a special trip to Vermont to rally voters)?
Obama's voting record, going back to his days in the Illinois statehouse, says yes. His career path — and those who guided it — leads to the same unsettling conclusion.
The seeds of his far-left ideology were planted in his formative years as a teenager in Hawaii — and they were far more radical than any biography or profile in the media has portrayed.
A careful reading of Obama's first memoir, "Dreams From My Father," reveals that his childhood mentor up to age 18 — a man he cryptically refers to as "Frank" — was none other than the late communist Frank Marshall Davis, who fled Chicago after the FBI and Congress opened investigations into his "subversive," "un-American activities."
As Obama was preparing to head off to college, he sat at Davis' feet in his Waikiki bungalow for nightly bull sessions. Davis plied his impressionable guest with liberal doses of whiskey and advice, including: Never trust the white establishment.
"They'll train you so good," he said, "you'll start believing what they tell you about equal opportunity and the American way and all that sh**."
After college, where he palled around with Marxist professors and took in socialist conferences "for inspiration," Obama followed in Davis' footsteps, becoming a "community organizer" in Chicago.
His boss there was Gerald Kellman, whose identity Obama also tries to hide in his book. Turns out Kellman's a disciple of the late Saul "The Red" Alinsky, a hard-boiled Chicago socialist who wrote the "Rules for Radicals" and agitated for social revolution in America.
The Chicago-based Woods Fund provided Kellman with his original $25,000 to hire Obama. In turn, Obama would later serve on the Woods board with terrorist Bill Ayers of the Weather Underground. Ayers was one of Obama's early political supporters.
After three years agitating with marginal success for more welfare programs in South Side Chicago, Obama decided he would need to study law to "bring about real change" — on a large scale.
While at Harvard Law School, he still found time to hone his organizing skills. For example, he spent eight days in Los Angeles taking a national training course taught by Alinsky's Industrial Areas Foundation. With his newly minted law degree, he returned to Chicago to reapply — as well as teach — Alinsky's "agitation" tactics.
(A video-streamed bio on Obama's Web site includes a photo of him teaching in a University of Chicago classroom. If you freeze the frame and look closely at the blackboard Obama is writing on, you can make out the words "Power Analysis" and "Relationships Built on Self Interest" — terms right out of Alinsky's rule book.)
Amid all this, Obama reunited with his late father's communist tribe in Kenya, the Luo, during trips to Africa.
As a Nairobi bureaucrat, Barack Hussein Obama Sr., a Harvard-educated economist, grew to challenge the ruling pro-Western government for not being socialist enough. In an eight-page scholarly paper published in 1965, he argued for eliminating private farming and nationalizing businesses "owned by Asians and Europeans."
His ideas for communist-style expropriation didn't stop there. He also proposed massive taxes on the rich to "redistribute our economic gains to the benefit of all."
"Theoretically, there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed," Obama Sr. wrote. "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."
Taxes and "investment" . . . the fruit truly does not fall far from the vine.
(Voters might also be interested to know that Obama, the supposed straight shooter, does not once mention his father's communist leanings in an entire book dedicated to his memory.)
In Kenya's recent civil unrest, Obama privately phoned the leader of the opposition Luo tribe, Raila Odinga, to voice his support. Odinga is so committed to communism he named his oldest son after Fidel Castro.
With his African identity sewn up, Obama returned to Chicago and fell under the spell of an Afrocentric pastor. It was a natural attraction. The Rev. Jeremiah Wright preaches a Marxist version of Christianity called "black liberation theology" and has supported the communists in Cuba, Nicaragua and elsewhere.
Obama joined Wright's militant church, pledging allegiance to a system of "black values" that demonizes white "middle classness" and other mainstream pursuits.
(Obama in his first book, published in 1995, calls such values "sensible." There's no mention of them in his new book.)
With the large church behind him, Obama decided to run for political office, where he could organize for "change" more effectively. "As an elected official," he said, "I could bring church and community leaders together easier than I could as a community organizer or lawyer."
He could also exercise real, top-down power, the kind that grass-roots activists lack. Alinsky would be proud.
Throughout his career, Obama has worked closely with a network of stone-cold socialists and full-blown communists striving for "economic justice."
He's been traveling in an orbit of collectivism that runs from Nairobi to Honolulu, and on through Chicago to Washington.
Yet a recent AP poll found that only 6% of Americans would describe Obama as "liberal," let alone socialist.
Public opinion polls usually reflect media opinion, and the media by and large have portrayed Obama as a moderate "outsider" (the No. 1 term survey respondents associate him with) who will bring a "breath of fresh air" to Washington.
The few who have drilled down on his radical roots have tended to downplay or pooh-pooh them. Even skeptics have failed to connect the dots for fear of being called the dreaded "r" word.
But too much is at stake in this election to continue mincing words.
Both a historic banking crisis and 1970s-style stagflation loom over the economy. Democrats, who already control Congress, now threaten to filibuster-proof the Senate in what could be a watershed election for them — at both ends of Pennsylvania Avenue.
A perfect storm of statism is forming, and our economic freedoms are at serious risk.
Those who care less about looking politically correct than preserving the free-market individualism that's made this country great have to start calling things by their proper name to avert long-term disaster.
And as president, "we'll ensure that economic justice is served," he asserted. "That's what this election is about." Obama never spelled out the meaning of the term, but he didn't have to. His audience knew what he meant, judging from its thumping approval.
It's the rest of the public that remains in the dark, which is why we're launching this special educational series.
"Economic justice" simply means punishing the successful and redistributing their wealth by government fiat. It's a euphemism for socialism.
In the past, such rhetoric was just that — rhetoric. But Obama's positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.
In his latest memoir he shares that he'd like to "recast" the welfare net that FDR and LBJ cast while rolling back what he derisively calls the "winner-take-all" market economy that Ronald Reagan reignited (with record gains in living standards for all).
Obama also talks about "restoring fairness to the economy," code for soaking the "rich" — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
It's clear from a close reading of his two books that he's a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor.
Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old.
Of course, Obama is too smart to try to smuggle such hoary collectivist garbage through the front door. He's disguising the wealth transfers as "investments" — "to make America more competitive," he says, or "that give us a fighting chance," whatever that means.
Among his proposed "investments":
• "Universal," "guaranteed" health care.
• "Free" college tuition.
• "Universal national service" (a la Havana).
• "Universal 401(k)s" (in which the government would match contributions made by "low- and moderate-income families").
• "Free" job training (even for criminals).
• "Wage insurance" (to supplement dislocated union workers' old income levels).
• "Free" child care and "universal" preschool.
• More subsidized public housing.
• A fatter earned income tax credit for "working poor."
• And even a Global Poverty Act that amounts to a Marshall Plan for the Third World, first and foremost Africa.
His new New Deal also guarantees a "living wage," with a $10 minimum wage indexed to inflation; and "fair trade" and "fair labor practices," with breaks for "patriot employers" who cow-tow to unions, and sticks for "nonpatriot" companies that don't.
That's just for starters — first-term stuff.
Obama doesn't stop with socialized health care. He wants to socialize your entire human resources department — from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike.
You can see why Obama was ranked, hands-down, the most liberal member of the Senate by the National Journal. Some, including colleague and presidential challenger John McCain, think he's the most liberal member in Congress.
But could he really be "more left," as McCain recently remarked, than self-described socialist Sen. Bernie Sanders (for whom Obama has openly campaigned, even making a special trip to Vermont to rally voters)?
Obama's voting record, going back to his days in the Illinois statehouse, says yes. His career path — and those who guided it — leads to the same unsettling conclusion.
The seeds of his far-left ideology were planted in his formative years as a teenager in Hawaii — and they were far more radical than any biography or profile in the media has portrayed.
A careful reading of Obama's first memoir, "Dreams From My Father," reveals that his childhood mentor up to age 18 — a man he cryptically refers to as "Frank" — was none other than the late communist Frank Marshall Davis, who fled Chicago after the FBI and Congress opened investigations into his "subversive," "un-American activities."
As Obama was preparing to head off to college, he sat at Davis' feet in his Waikiki bungalow for nightly bull sessions. Davis plied his impressionable guest with liberal doses of whiskey and advice, including: Never trust the white establishment.
"They'll train you so good," he said, "you'll start believing what they tell you about equal opportunity and the American way and all that sh**."
After college, where he palled around with Marxist professors and took in socialist conferences "for inspiration," Obama followed in Davis' footsteps, becoming a "community organizer" in Chicago.
His boss there was Gerald Kellman, whose identity Obama also tries to hide in his book. Turns out Kellman's a disciple of the late Saul "The Red" Alinsky, a hard-boiled Chicago socialist who wrote the "Rules for Radicals" and agitated for social revolution in America.
The Chicago-based Woods Fund provided Kellman with his original $25,000 to hire Obama. In turn, Obama would later serve on the Woods board with terrorist Bill Ayers of the Weather Underground. Ayers was one of Obama's early political supporters.
After three years agitating with marginal success for more welfare programs in South Side Chicago, Obama decided he would need to study law to "bring about real change" — on a large scale.
While at Harvard Law School, he still found time to hone his organizing skills. For example, he spent eight days in Los Angeles taking a national training course taught by Alinsky's Industrial Areas Foundation. With his newly minted law degree, he returned to Chicago to reapply — as well as teach — Alinsky's "agitation" tactics.
(A video-streamed bio on Obama's Web site includes a photo of him teaching in a University of Chicago classroom. If you freeze the frame and look closely at the blackboard Obama is writing on, you can make out the words "Power Analysis" and "Relationships Built on Self Interest" — terms right out of Alinsky's rule book.)
Amid all this, Obama reunited with his late father's communist tribe in Kenya, the Luo, during trips to Africa.
As a Nairobi bureaucrat, Barack Hussein Obama Sr., a Harvard-educated economist, grew to challenge the ruling pro-Western government for not being socialist enough. In an eight-page scholarly paper published in 1965, he argued for eliminating private farming and nationalizing businesses "owned by Asians and Europeans."
His ideas for communist-style expropriation didn't stop there. He also proposed massive taxes on the rich to "redistribute our economic gains to the benefit of all."
"Theoretically, there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed," Obama Sr. wrote. "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."
Taxes and "investment" . . . the fruit truly does not fall far from the vine.
(Voters might also be interested to know that Obama, the supposed straight shooter, does not once mention his father's communist leanings in an entire book dedicated to his memory.)
In Kenya's recent civil unrest, Obama privately phoned the leader of the opposition Luo tribe, Raila Odinga, to voice his support. Odinga is so committed to communism he named his oldest son after Fidel Castro.
With his African identity sewn up, Obama returned to Chicago and fell under the spell of an Afrocentric pastor. It was a natural attraction. The Rev. Jeremiah Wright preaches a Marxist version of Christianity called "black liberation theology" and has supported the communists in Cuba, Nicaragua and elsewhere.
Obama joined Wright's militant church, pledging allegiance to a system of "black values" that demonizes white "middle classness" and other mainstream pursuits.
(Obama in his first book, published in 1995, calls such values "sensible." There's no mention of them in his new book.)
With the large church behind him, Obama decided to run for political office, where he could organize for "change" more effectively. "As an elected official," he said, "I could bring church and community leaders together easier than I could as a community organizer or lawyer."
He could also exercise real, top-down power, the kind that grass-roots activists lack. Alinsky would be proud.
Throughout his career, Obama has worked closely with a network of stone-cold socialists and full-blown communists striving for "economic justice."
He's been traveling in an orbit of collectivism that runs from Nairobi to Honolulu, and on through Chicago to Washington.
Yet a recent AP poll found that only 6% of Americans would describe Obama as "liberal," let alone socialist.
Public opinion polls usually reflect media opinion, and the media by and large have portrayed Obama as a moderate "outsider" (the No. 1 term survey respondents associate him with) who will bring a "breath of fresh air" to Washington.
The few who have drilled down on his radical roots have tended to downplay or pooh-pooh them. Even skeptics have failed to connect the dots for fear of being called the dreaded "r" word.
But too much is at stake in this election to continue mincing words.
Both a historic banking crisis and 1970s-style stagflation loom over the economy. Democrats, who already control Congress, now threaten to filibuster-proof the Senate in what could be a watershed election for them — at both ends of Pennsylvania Avenue.
A perfect storm of statism is forming, and our economic freedoms are at serious risk.
Those who care less about looking politically correct than preserving the free-market individualism that's made this country great have to start calling things by their proper name to avert long-term disaster.
Tuesday, December 9, 2008
Most Serious Economic Crisis in Modern History
Most Serious Economic Crisis in Modern History
The October 2008 financial meltdown is not the result of a cyclical economic phenomenon. It is the deliberate result of US government policy instrumented through the Treasury and the US Federal Reserve Board.
This is the most serious economic crisis in World history.
The "bailout" proposed by the US Treasury does not constitute a "solution" to the crisis. In fact quite the opposite: it is the cause of further collapse. It triggers an unprecedented concentration of wealth, which in turn contributes to widening economic and social inequalities both within and between nations.
The levels of indebtedness have skyrocketed. Industrial corporations are driven into bankruptcy, taken over by the global financial institutions. Credit, namely the supply of loanable funds, which constitutes the lifeline of production and investment, is controlled by a handful of financial conglomerates.
With the "bailout", the public debt has spiraled. America is the most indebted country on earth. Prior to the "bailout", the US public debt was of the order of 10 trillion dollars. This US dollar denominated debt is composed of outstanding treasury bills and government bonds held by individuals, foreign governments, corporations and financial institutions.
"The Bailout": The US Administration is Financing its Own Indebtedness
Ironically, the Wall Street banks --which are the recipients of the bailout money-- are also the brokers and underwriters of the US public debt. Although the banks hold only a portion of the public debt, they transact and trade in US dollar denominated public debt instruments Worldwide.
In a bitter twist, the banks are the recipients of a 700+ billion dollar handout and at the same time they act as creditors of the US government.
We are dealing with an absurd circular relationship: To finance the bailout, Washington must borrow from the banks, which are the recipients of the bailout.
The US administration is financing its own indebtedness.
Federal, State and municipal governments are increasingly in a straightjacket, under the tight control of the global financial conglomerates. Increasingly, the creditors call the shots on government reform.
The bailout is conducive to the consolidation and a centralization of banking power, which in turn backlashes on real economic activity, leading to a string of bankruptcies and mass unemployment.
Will an Obama Administration Reverse the Tide?
The financial crisis is the outcome of a deregulated financial architecture.
Obama has stated unequivocally his resolve to address the policy failures of the Bush administration and "democratize" the US financial system. President-Elect Barack Obama says that he is committed to reversing the tide:
"Let us remember that if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers. In this country, we rise or fall as one nation, as one people." (President-elect Barack Obama, November 4, 2008, emphasis added)
The Democrats casually blame the Bush administration for the October financial meltdown.
Obama says that he will be introducing an entirely different policy agenda which responds to the interests of Main Street:
"Tomorrow, you can turn the page on policies that put the greed and irresponsibility of Wall Street before the hard work and sacrifice of men and women all across Main Street. Tomorrow you can choose policies that invest in our middle class and create new jobs and grow this economy so that everybody has a chance to succeed, from the CEO to the secretary and the janitor, from the factory owner to the men and women who work on the factory floor.( Barack Obama, election campaign, November 3, 2008, emphasis added)
Is Obama committed to "taming Wall Street" and "disarming financial markets"?
Ironically, it was under the Clinton administration that these policies of "greed and irresponsibility" were adopted.
The 1999 Financial Services Modernization Act (FSMA) was conducive to the the repeal of the Glass-Steagall Act of 1933. A pillar of President Roosevelt's "New Deal", the Glass-Steagall Act was put in place in response to the climate of corruption, financial manipulation and "insider trading" which resulted in more than 5,000 bank failures in the years following the 1929 Wall Street crash.
Bill Clinton signs into law the Gramm-Leach-Bliley Financial Services Modernization Act, November 12, 1999
Under the 1999 Financial Services Modernization Act, effective control over the entire US financial services industry (including insurance companies, pension funds, securities companies, etc.) had been transferred to a handful of financial conglomerates and their associated hedge funds.
The Engineers of Financial Disaster
Who are the architects of this debacle?
In a bitter irony, the engineers of financial disaster are now being considered by President-Elect Barack Obama's Transition Team for the position Treasury Secretary:
Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).
Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.
Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)
Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs.
Larry Summers (left) and Timothy Geithner
At the time of writing, Obama's favorite is Larry Summers, front-runner for the position of Treasury Secretary.
Harvard University Economics Professor Lawrence Summers served as Chief Economist for the World Bank (1991–1993). He contributed to shaping the macro-economic reforms imposed on numerous indebted developing countries. The social and economic impact of these reforms under the IMF-World Bank sponsored structural adjustment program (SAP) were devastating, resulting in mass poverty.
Larry Summer's stint at the World Bank coincided with the collapse of the Soviet Union and the imposition of the IMF-World Bank's deadly " economic medicine" on Eastern Europe, the former Soviet republics and the Balkans.
In 1993, Summers moved to the US Treasury. He initially held the position of Undersecretary of the Treasury for international affairs and later Deputy Secretary. In liaison with his former colleagues at the IMF and the World Bank, he played a key role in crafting the economic "shock treatment" reform packages imposed at the height of the 1997 Asian crisis on South Korea, Thailand and Indonesia.
The bailout agreements negotiated with these three countries were coordinated through Summers office at the Treasury in liaison with the Federal Reserve Bank of New York and the Washington based Bretton Woods institutions. Summers worked closely with IMF Deputy Managing Director Stanley Fischer, who was later appointed Governor of the Central Bank of Israel.
Larry Summers became Treasury Secretary in July 1999. He is a protégé of David Rockefeller. He was among the main architects of the infamous Financial Services Modernization Act, which provided legitimacy to inside trading and outright financial manipulation.
Larry Summers and David Rockefeller
"Putting the Fox in Charge of the Chicken Coop"
Summers is currently a Consultant to Goldman Sachs and managing director of a Hedge fund, the D.E. Shaw Group, As a Hedge Fund manager, his contacts at the Treasury and on Wall Street provide him with valuable inside information on the movement of financial markets. Under the helm of Larry Summers and as a direct result of the financial meltdown, the D. E. Shaw Group made record profits. At the end of October 2008, at the height of the financial crisis, the D. E. Shaw Group announced $7 billion in revenue, a 22 percent increase over the previous year, "with nearly three times more cash on hand than a year ago" (2theadvocate.com, 31 October 2008).
Putting a Hedge Fund manager (with links to the Wall Street financial establishment) in charge of the Treasury is tantamount to putting the fox in charge of the chicken coop.
The Washington Consensus
Summers, Geithner, Corzine, Volker, Fischer, Phil Gramm, Bernanke, Hank Paulson, Rubin, not to mention Alan Greenspan, al al. are buddies; they play golf together; they have links to the Council on Foreign Relations and the Bilderberg; they act concurrently in accordance with the interests of Wall Street; they meet behind closed doors; they are on the same wave length; they are Democrats and Republicans.
While they may disagree on some issues, they are firmly committed to the Washington-Wall Street Consensus. They are utterly ruthless in their management of economic and financial processes. Their actions are profit driven. Outside of their narrow interest in the "efficiency" of "markets", they have little concern for "living human beings". How are people's lives affected by the deadly gamut of macro-economic and financial reforms, which is spearheading entire sectors of economic activity into bankruptcy.
The economic reasoning underlying neoliberal economic discourse is often cynical and contemptuous. In this regard, Lawrence Summers' economic discourse stands out. He is known among environmentalists for having proposed the dumping of toxic waste in Third World countries, because people in poor countries have shorter lives and the costs of labor are abysmally low, which essentially means that the market value of people in the Third World is much lower. According to summers, this makes it far more "cost effective" to export toxic materials to impoverished countries. A controversial 1991 World Bank memo signed by of Chief Economist Larry Summers reads as follows (excerpts, emphasis added):
DATE: December 12, 1991 TO: Distribution FR: Lawrence H. Summers Subject: GEP
"'Dirty' Industries: Just between you and me, shouldn't the World Bank be encouraging MORE migration of the dirty industries to the Less Developed Countries? I can think of three reasons:
1) The measurements of the costs of health impairing pollution depends on the foregone earnings from increased morbidity and mortality.... From this point of view a given amount of health impairing pollution should be done in the country with the lowest cost, which will be the country with the lowest wages. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that.
2) The costs of pollution are likely to be non-linear as the initial increments of pollution probably have very low cost. I've always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City. Only the lamentable facts that so much pollution is generated by non-tradable industries (transport, electrical generation) and that the unit transport costs of solid waste are so high prevent world welfare enhancing trade in air pollution and waste.
3) The demand for a clean environment for aesthetic and health reasons is likely to have very high income elasticity. [the demand increases when income levels increase]. The concern over an agent that causes a one in a million change in the odds of prostrate cancer is obviously going to be much higher in a country where people survive to get prostrate cancer than in a country where under 5 mortality is is 200 per thousand.... "
http://www.globalpolicy.org/socecon/envronmt/summers.htm
Summers stance on the export of pollution to developing countries had a marked impact on US environmental policy:
In 1994, "virtually every country in the world broke with Mr. Summers' Harvard-trained "economic logic" ruminations about dumping rich countries' poisons on their poorer neighbors, and agreed to ban the export of hazardous wastes from OECD to non-OECD [developing] countries under the Basel Convention. Five years later, the United States is one of the few countries that has yet to ratify the Basel Convention or the Basel Convention's Ban Amendment on the export of hazardous wastes from OECD to non-OECD countries. (Jim Valette, Larry Summers' War Against the Earth, Counterpunch, undated)
The 1997 Asian Crisis: Dress Rehearsal for Things to Come
In the course of 1997, currency speculation instrumented by major financial institutions directed against Thailand, Indonesia and South Korea was conducive to the collapse of national currencies and the transfer of billions of dollars of central bank reserves into private financial hands. Several observers pointed to the deliberate manipulation of equity and currency markets by investment banks and brokerage firms.
While the Asian bailout agreements were formally negotiated with the IMF, the major Wall Street commercial banks (including Chase, Bank of America, Citigroup and J. P. Morgan) as well as the "big five" merchant banks (Goldman Sachs, Lehman Brothers, Morgan Stanley and Salomon Smith Barney) were "consulted" on the clauses to be included in the Asian bail-out agreements.
The US Treasury in liaison with Wall Street and the Bretton Woods institutions played a central role in negotiating the bailout agreements. Both Larry Summers and Timothy Geithner, were actively involved on behalf of the US Treasury in the 1997 bailout of South Korea:
[In 1997] "Messrs. Summers and Geithner worked to persuade Mr. Rubin to support financial aid to South Korea. Mr. Rubin was wary of such a move, worrying that providing money to a country in dire straits might be a losing proposition..." (WSJ, November 8, 2008)
What happened in Korea under advice from Deputy Treasury Secretary Summers et al, had nothing to do with "financial aid".
The country was literally ransacked. Undersecretary of the Treasury David Lipton was sent to Seoul in early December 1997. Secret negotiations were initiated. Washington had demanded the firing of the Korean Finance Minister and the unconditional acceptance of the IMF "bailout".
A new finance minister, who happened to be former IMF and World Bank official, was appointed and immediately rushed off to Washington for "consultations" with his former IMF colleague Deputy Managing Director Stanley Fischer.
"The Korean Legislature had met in emergency sessions on December 23. The final decision concerning the 57 billion dollar deal took place the following day, on Christmas Eve December 24th, after office hours in New York. Wall Street's top financiers, from Chase Manhattan, Bank America, Citicorp and J. P. Morgan had been called in for a meeting at the Federal Reserve Bank of New York. Also at the Christmas Eve venue, were representatives of the big five New York merchant banks including Goldman Sachs, Lehman Brothers, Morgan Stanley and Salomon Smith Barney. And at midnight on Christmas Eve, upon receiving the green light from the banks, the IMF was allowed to rush 10 billion dollars to Seoul to meet the avalanche of maturing short-term debts.
The coffers of Korea's central Bank had been ransacked. Creditors and speculators were anxiously awaiting to collect the loot. The same institutions which had earlier speculated against the Korean won were cashing in on the IMF bailout money. It was a scam. (See Michel Chossudovsky, The Recolonization of Korea, subsequently published as a chapter in The Globalization of Poverty and the New World Order, Global Research, Montreal, 2003.)
"Strong economic medicine" is the prescription of the Washington Consensus. "Short term pain for long term gain" was the motto at the World Bank during Lawrence Summers term of as World Bank Chief Economist. (See IMF, World Bank Reforms Leave Poor Behind, Bank Economist Finds, Bloomberg, November 7, 2000)
What we dealing with is an entire " old boys network" of officials and advisers at the Treasury, the Federal Reserve, the IMF, World Bank, the Washington Think Tanks, who are in permanent liaison with leading financiers on Wall Street.
Whoever is chosen by Obama's Transition team will belong to the Washington Consensus.
The 1999 Financial Services Modernization Act
What happened in October 1999 is crucial.
In the wake of lengthy negotiations behind closed doors, in the Wall Street boardrooms, in which Larry Summers played a central role, the regulatory restraints on Wall Street's powerful banking conglomerates were revoked "with a stroke of the pen".
Larry Summers worked closely with Senator Phil Gramm (1985-2002),chairman of the Senate Banking committee, who was the legislative architect of the the Gramm-Leach-Bliley Financial Services Modernization Act, signed into law on November 12, 1999 (See Group Photo above). (For Complete text click US Congress: Pub.L. 106-102). As Texas Senator, Phil Gramm was closely associated with Enron.
In December 2000 at the very end of the Clinton mandate, Gramm introduced a second piece of legislation, the so-called Gramm-Lugar Commodity Futures Modernization Act, which paved the way for the speculative onslaught in primary commodities including oil and food staples.
"The act, he declared, would ensure that neither the sec nor the Commodity Futures Trading Commission (cftc) got into the business of regulating newfangled financial products called swaps—and would thus "protect financial institutions from overregulation" and "position our financial services industries to be world leaders into the new century." (See David Corn, Foreclosure Phil, Mother Jones, July August 2008)
Phil Gramm was McCain's first choice for Secretary of the Treasury.
Under the FSMA new rules – ratified by the US Senate in October 1999 and approved by President Clinton – commercial banks, brokerage firms, hedge funds, institutional investors, pension funds and insurance companies could freely invest in each others businesses as well as fully integrate their financial operations.
A "global financial supermarket" had been created, setting the stage for a massive concentration of financial power. One of the key figures behind this project was Secretary of the Treasury Larry Summers, in liaison with David Rockefeller. Summers described the FSMA as "the legislative foundation of the financial system of the 21th century". That legislative foundation is among the main causes of the 2008 financial meltdown.
Financial Disarmament
There can be no meaningful solution to the crisis, unless there is a major reform in the financial architecture, implying inter alia the freezing of speculative trade and the "disarming of financial markets". The project of disarming financial markets was first proposed by John Maynard Keynes in the 1940s as a means to the establishment of a multipolar international monetary system. (See J.M. Keynes, Activities 1940-1944, Shaping the Post-War World: The Clearing Union, The Collected Writings of John Maynard Keynes, Royal Economic Society, Macmillan and Cambridge University Press, Vol. XXV, London 1980, p. 57).
Main Street versus Wall Street
Where are Obama's "Main Street appointees"? Namely individuals who respond to the interest of people across America. There are no labor or community leaders on Obama's list for key positions.
The President-elect is appointing the architects of financial deregulation.
Meaningful financial reform cannot be adopted by officials appointed by Wall Street and who act on behalf of Wall Street.
Those who set the financial system ablaze in 1999, have been called back to turn out the fire.
The proposed "solution" to the crisis under the "bailout" is the cause of further economic collapse.
There are no policy solutions on the horizon.
The banking conglomerates call the shots. They decide on the composition of the Obama Cabinet. They also decide on the agenda of the Washington Financial Summit (November 15, 2008) which is slated to lay the groundwork for the establishment of a new "global financial architecture".
The Wall Street blueprint has already been discussed behind closed doors: the hidden agenda is to establish a unipolar international monetary system, dominated by US financial power, which in turn would be protected and secured by US military superiority.
Neoliberal with a "Human Face"
There is no indication that Obama will break his ties to his Wall Street sponsors, who largely funded his election campaign.
Goldman Sachs, J. P. Morgan Chase, Citigroup, Bill Gates' Microsoft are among his main campaign contributors.
Warren Buffett, among the the world's richest individuals, not only supported Barak Obama's election campaign, he is a member of his transition team, which plays a key role deciding the composition of Obama's cabinet.
Warren Buffett
Unless there is a major upheaval in the system of political appointments to key positions, an alternative Obama economic agenda geared towards poverty alleviation and employment creation is highly unlikely.
What we are witnessing is continuity.
Obama provides a " human face" to the status quo. This human face serves to mislead Americans on the nature of the economic and political process.
The neoliberal economic reforms remain intact.
The substance of these reforms including the "bailout" of America's largest financial institutions ultimately destroys the real economy, while spearheading entire areas of manufacturing and the services economy into bankruptcy.
by Michel Chossudovsky
The October 2008 financial meltdown is not the result of a cyclical economic phenomenon. It is the deliberate result of US government policy instrumented through the Treasury and the US Federal Reserve Board.
This is the most serious economic crisis in World history.
The "bailout" proposed by the US Treasury does not constitute a "solution" to the crisis. In fact quite the opposite: it is the cause of further collapse. It triggers an unprecedented concentration of wealth, which in turn contributes to widening economic and social inequalities both within and between nations.
The levels of indebtedness have skyrocketed. Industrial corporations are driven into bankruptcy, taken over by the global financial institutions. Credit, namely the supply of loanable funds, which constitutes the lifeline of production and investment, is controlled by a handful of financial conglomerates.
With the "bailout", the public debt has spiraled. America is the most indebted country on earth. Prior to the "bailout", the US public debt was of the order of 10 trillion dollars. This US dollar denominated debt is composed of outstanding treasury bills and government bonds held by individuals, foreign governments, corporations and financial institutions.
"The Bailout": The US Administration is Financing its Own Indebtedness
Ironically, the Wall Street banks --which are the recipients of the bailout money-- are also the brokers and underwriters of the US public debt. Although the banks hold only a portion of the public debt, they transact and trade in US dollar denominated public debt instruments Worldwide.
In a bitter twist, the banks are the recipients of a 700+ billion dollar handout and at the same time they act as creditors of the US government.
We are dealing with an absurd circular relationship: To finance the bailout, Washington must borrow from the banks, which are the recipients of the bailout.
The US administration is financing its own indebtedness.
Federal, State and municipal governments are increasingly in a straightjacket, under the tight control of the global financial conglomerates. Increasingly, the creditors call the shots on government reform.
The bailout is conducive to the consolidation and a centralization of banking power, which in turn backlashes on real economic activity, leading to a string of bankruptcies and mass unemployment.
Will an Obama Administration Reverse the Tide?
The financial crisis is the outcome of a deregulated financial architecture.
Obama has stated unequivocally his resolve to address the policy failures of the Bush administration and "democratize" the US financial system. President-Elect Barack Obama says that he is committed to reversing the tide:
"Let us remember that if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers. In this country, we rise or fall as one nation, as one people." (President-elect Barack Obama, November 4, 2008, emphasis added)
The Democrats casually blame the Bush administration for the October financial meltdown.
Obama says that he will be introducing an entirely different policy agenda which responds to the interests of Main Street:
"Tomorrow, you can turn the page on policies that put the greed and irresponsibility of Wall Street before the hard work and sacrifice of men and women all across Main Street. Tomorrow you can choose policies that invest in our middle class and create new jobs and grow this economy so that everybody has a chance to succeed, from the CEO to the secretary and the janitor, from the factory owner to the men and women who work on the factory floor.( Barack Obama, election campaign, November 3, 2008, emphasis added)
Is Obama committed to "taming Wall Street" and "disarming financial markets"?
Ironically, it was under the Clinton administration that these policies of "greed and irresponsibility" were adopted.
The 1999 Financial Services Modernization Act (FSMA) was conducive to the the repeal of the Glass-Steagall Act of 1933. A pillar of President Roosevelt's "New Deal", the Glass-Steagall Act was put in place in response to the climate of corruption, financial manipulation and "insider trading" which resulted in more than 5,000 bank failures in the years following the 1929 Wall Street crash.
Bill Clinton signs into law the Gramm-Leach-Bliley Financial Services Modernization Act, November 12, 1999
Under the 1999 Financial Services Modernization Act, effective control over the entire US financial services industry (including insurance companies, pension funds, securities companies, etc.) had been transferred to a handful of financial conglomerates and their associated hedge funds.
The Engineers of Financial Disaster
Who are the architects of this debacle?
In a bitter irony, the engineers of financial disaster are now being considered by President-Elect Barack Obama's Transition Team for the position Treasury Secretary:
Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).
Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.
Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)
Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs.
Larry Summers (left) and Timothy Geithner
At the time of writing, Obama's favorite is Larry Summers, front-runner for the position of Treasury Secretary.
Harvard University Economics Professor Lawrence Summers served as Chief Economist for the World Bank (1991–1993). He contributed to shaping the macro-economic reforms imposed on numerous indebted developing countries. The social and economic impact of these reforms under the IMF-World Bank sponsored structural adjustment program (SAP) were devastating, resulting in mass poverty.
Larry Summer's stint at the World Bank coincided with the collapse of the Soviet Union and the imposition of the IMF-World Bank's deadly " economic medicine" on Eastern Europe, the former Soviet republics and the Balkans.
In 1993, Summers moved to the US Treasury. He initially held the position of Undersecretary of the Treasury for international affairs and later Deputy Secretary. In liaison with his former colleagues at the IMF and the World Bank, he played a key role in crafting the economic "shock treatment" reform packages imposed at the height of the 1997 Asian crisis on South Korea, Thailand and Indonesia.
The bailout agreements negotiated with these three countries were coordinated through Summers office at the Treasury in liaison with the Federal Reserve Bank of New York and the Washington based Bretton Woods institutions. Summers worked closely with IMF Deputy Managing Director Stanley Fischer, who was later appointed Governor of the Central Bank of Israel.
Larry Summers became Treasury Secretary in July 1999. He is a protégé of David Rockefeller. He was among the main architects of the infamous Financial Services Modernization Act, which provided legitimacy to inside trading and outright financial manipulation.
Larry Summers and David Rockefeller
"Putting the Fox in Charge of the Chicken Coop"
Summers is currently a Consultant to Goldman Sachs and managing director of a Hedge fund, the D.E. Shaw Group, As a Hedge Fund manager, his contacts at the Treasury and on Wall Street provide him with valuable inside information on the movement of financial markets. Under the helm of Larry Summers and as a direct result of the financial meltdown, the D. E. Shaw Group made record profits. At the end of October 2008, at the height of the financial crisis, the D. E. Shaw Group announced $7 billion in revenue, a 22 percent increase over the previous year, "with nearly three times more cash on hand than a year ago" (2theadvocate.com, 31 October 2008).
Putting a Hedge Fund manager (with links to the Wall Street financial establishment) in charge of the Treasury is tantamount to putting the fox in charge of the chicken coop.
The Washington Consensus
Summers, Geithner, Corzine, Volker, Fischer, Phil Gramm, Bernanke, Hank Paulson, Rubin, not to mention Alan Greenspan, al al. are buddies; they play golf together; they have links to the Council on Foreign Relations and the Bilderberg; they act concurrently in accordance with the interests of Wall Street; they meet behind closed doors; they are on the same wave length; they are Democrats and Republicans.
While they may disagree on some issues, they are firmly committed to the Washington-Wall Street Consensus. They are utterly ruthless in their management of economic and financial processes. Their actions are profit driven. Outside of their narrow interest in the "efficiency" of "markets", they have little concern for "living human beings". How are people's lives affected by the deadly gamut of macro-economic and financial reforms, which is spearheading entire sectors of economic activity into bankruptcy.
The economic reasoning underlying neoliberal economic discourse is often cynical and contemptuous. In this regard, Lawrence Summers' economic discourse stands out. He is known among environmentalists for having proposed the dumping of toxic waste in Third World countries, because people in poor countries have shorter lives and the costs of labor are abysmally low, which essentially means that the market value of people in the Third World is much lower. According to summers, this makes it far more "cost effective" to export toxic materials to impoverished countries. A controversial 1991 World Bank memo signed by of Chief Economist Larry Summers reads as follows (excerpts, emphasis added):
DATE: December 12, 1991 TO: Distribution FR: Lawrence H. Summers Subject: GEP
"'Dirty' Industries: Just between you and me, shouldn't the World Bank be encouraging MORE migration of the dirty industries to the Less Developed Countries? I can think of three reasons:
1) The measurements of the costs of health impairing pollution depends on the foregone earnings from increased morbidity and mortality.... From this point of view a given amount of health impairing pollution should be done in the country with the lowest cost, which will be the country with the lowest wages. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that.
2) The costs of pollution are likely to be non-linear as the initial increments of pollution probably have very low cost. I've always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City. Only the lamentable facts that so much pollution is generated by non-tradable industries (transport, electrical generation) and that the unit transport costs of solid waste are so high prevent world welfare enhancing trade in air pollution and waste.
3) The demand for a clean environment for aesthetic and health reasons is likely to have very high income elasticity. [the demand increases when income levels increase]. The concern over an agent that causes a one in a million change in the odds of prostrate cancer is obviously going to be much higher in a country where people survive to get prostrate cancer than in a country where under 5 mortality is is 200 per thousand.... "
http://www.globalpolicy.org/socecon/envronmt/summers.htm
Summers stance on the export of pollution to developing countries had a marked impact on US environmental policy:
In 1994, "virtually every country in the world broke with Mr. Summers' Harvard-trained "economic logic" ruminations about dumping rich countries' poisons on their poorer neighbors, and agreed to ban the export of hazardous wastes from OECD to non-OECD [developing] countries under the Basel Convention. Five years later, the United States is one of the few countries that has yet to ratify the Basel Convention or the Basel Convention's Ban Amendment on the export of hazardous wastes from OECD to non-OECD countries. (Jim Valette, Larry Summers' War Against the Earth, Counterpunch, undated)
The 1997 Asian Crisis: Dress Rehearsal for Things to Come
In the course of 1997, currency speculation instrumented by major financial institutions directed against Thailand, Indonesia and South Korea was conducive to the collapse of national currencies and the transfer of billions of dollars of central bank reserves into private financial hands. Several observers pointed to the deliberate manipulation of equity and currency markets by investment banks and brokerage firms.
While the Asian bailout agreements were formally negotiated with the IMF, the major Wall Street commercial banks (including Chase, Bank of America, Citigroup and J. P. Morgan) as well as the "big five" merchant banks (Goldman Sachs, Lehman Brothers, Morgan Stanley and Salomon Smith Barney) were "consulted" on the clauses to be included in the Asian bail-out agreements.
The US Treasury in liaison with Wall Street and the Bretton Woods institutions played a central role in negotiating the bailout agreements. Both Larry Summers and Timothy Geithner, were actively involved on behalf of the US Treasury in the 1997 bailout of South Korea:
[In 1997] "Messrs. Summers and Geithner worked to persuade Mr. Rubin to support financial aid to South Korea. Mr. Rubin was wary of such a move, worrying that providing money to a country in dire straits might be a losing proposition..." (WSJ, November 8, 2008)
What happened in Korea under advice from Deputy Treasury Secretary Summers et al, had nothing to do with "financial aid".
The country was literally ransacked. Undersecretary of the Treasury David Lipton was sent to Seoul in early December 1997. Secret negotiations were initiated. Washington had demanded the firing of the Korean Finance Minister and the unconditional acceptance of the IMF "bailout".
A new finance minister, who happened to be former IMF and World Bank official, was appointed and immediately rushed off to Washington for "consultations" with his former IMF colleague Deputy Managing Director Stanley Fischer.
"The Korean Legislature had met in emergency sessions on December 23. The final decision concerning the 57 billion dollar deal took place the following day, on Christmas Eve December 24th, after office hours in New York. Wall Street's top financiers, from Chase Manhattan, Bank America, Citicorp and J. P. Morgan had been called in for a meeting at the Federal Reserve Bank of New York. Also at the Christmas Eve venue, were representatives of the big five New York merchant banks including Goldman Sachs, Lehman Brothers, Morgan Stanley and Salomon Smith Barney. And at midnight on Christmas Eve, upon receiving the green light from the banks, the IMF was allowed to rush 10 billion dollars to Seoul to meet the avalanche of maturing short-term debts.
The coffers of Korea's central Bank had been ransacked. Creditors and speculators were anxiously awaiting to collect the loot. The same institutions which had earlier speculated against the Korean won were cashing in on the IMF bailout money. It was a scam. (See Michel Chossudovsky, The Recolonization of Korea, subsequently published as a chapter in The Globalization of Poverty and the New World Order, Global Research, Montreal, 2003.)
"Strong economic medicine" is the prescription of the Washington Consensus. "Short term pain for long term gain" was the motto at the World Bank during Lawrence Summers term of as World Bank Chief Economist. (See IMF, World Bank Reforms Leave Poor Behind, Bank Economist Finds, Bloomberg, November 7, 2000)
What we dealing with is an entire " old boys network" of officials and advisers at the Treasury, the Federal Reserve, the IMF, World Bank, the Washington Think Tanks, who are in permanent liaison with leading financiers on Wall Street.
Whoever is chosen by Obama's Transition team will belong to the Washington Consensus.
The 1999 Financial Services Modernization Act
What happened in October 1999 is crucial.
In the wake of lengthy negotiations behind closed doors, in the Wall Street boardrooms, in which Larry Summers played a central role, the regulatory restraints on Wall Street's powerful banking conglomerates were revoked "with a stroke of the pen".
Larry Summers worked closely with Senator Phil Gramm (1985-2002),chairman of the Senate Banking committee, who was the legislative architect of the the Gramm-Leach-Bliley Financial Services Modernization Act, signed into law on November 12, 1999 (See Group Photo above). (For Complete text click US Congress: Pub.L. 106-102). As Texas Senator, Phil Gramm was closely associated with Enron.
In December 2000 at the very end of the Clinton mandate, Gramm introduced a second piece of legislation, the so-called Gramm-Lugar Commodity Futures Modernization Act, which paved the way for the speculative onslaught in primary commodities including oil and food staples.
"The act, he declared, would ensure that neither the sec nor the Commodity Futures Trading Commission (cftc) got into the business of regulating newfangled financial products called swaps—and would thus "protect financial institutions from overregulation" and "position our financial services industries to be world leaders into the new century." (See David Corn, Foreclosure Phil, Mother Jones, July August 2008)
Phil Gramm was McCain's first choice for Secretary of the Treasury.
Under the FSMA new rules – ratified by the US Senate in October 1999 and approved by President Clinton – commercial banks, brokerage firms, hedge funds, institutional investors, pension funds and insurance companies could freely invest in each others businesses as well as fully integrate their financial operations.
A "global financial supermarket" had been created, setting the stage for a massive concentration of financial power. One of the key figures behind this project was Secretary of the Treasury Larry Summers, in liaison with David Rockefeller. Summers described the FSMA as "the legislative foundation of the financial system of the 21th century". That legislative foundation is among the main causes of the 2008 financial meltdown.
Financial Disarmament
There can be no meaningful solution to the crisis, unless there is a major reform in the financial architecture, implying inter alia the freezing of speculative trade and the "disarming of financial markets". The project of disarming financial markets was first proposed by John Maynard Keynes in the 1940s as a means to the establishment of a multipolar international monetary system. (See J.M. Keynes, Activities 1940-1944, Shaping the Post-War World: The Clearing Union, The Collected Writings of John Maynard Keynes, Royal Economic Society, Macmillan and Cambridge University Press, Vol. XXV, London 1980, p. 57).
Main Street versus Wall Street
Where are Obama's "Main Street appointees"? Namely individuals who respond to the interest of people across America. There are no labor or community leaders on Obama's list for key positions.
The President-elect is appointing the architects of financial deregulation.
Meaningful financial reform cannot be adopted by officials appointed by Wall Street and who act on behalf of Wall Street.
Those who set the financial system ablaze in 1999, have been called back to turn out the fire.
The proposed "solution" to the crisis under the "bailout" is the cause of further economic collapse.
There are no policy solutions on the horizon.
The banking conglomerates call the shots. They decide on the composition of the Obama Cabinet. They also decide on the agenda of the Washington Financial Summit (November 15, 2008) which is slated to lay the groundwork for the establishment of a new "global financial architecture".
The Wall Street blueprint has already been discussed behind closed doors: the hidden agenda is to establish a unipolar international monetary system, dominated by US financial power, which in turn would be protected and secured by US military superiority.
Neoliberal with a "Human Face"
There is no indication that Obama will break his ties to his Wall Street sponsors, who largely funded his election campaign.
Goldman Sachs, J. P. Morgan Chase, Citigroup, Bill Gates' Microsoft are among his main campaign contributors.
Warren Buffett, among the the world's richest individuals, not only supported Barak Obama's election campaign, he is a member of his transition team, which plays a key role deciding the composition of Obama's cabinet.
Warren Buffett
Unless there is a major upheaval in the system of political appointments to key positions, an alternative Obama economic agenda geared towards poverty alleviation and employment creation is highly unlikely.
What we are witnessing is continuity.
Obama provides a " human face" to the status quo. This human face serves to mislead Americans on the nature of the economic and political process.
The neoliberal economic reforms remain intact.
The substance of these reforms including the "bailout" of America's largest financial institutions ultimately destroys the real economy, while spearheading entire areas of manufacturing and the services economy into bankruptcy.
by Michel Chossudovsky
Wednesday, October 29, 2008
The Next Four Years
The Next Four Years
So I was thinking today, while walking south on Broadway from 101st that with this cities Messiah-like obsession with Obama running rampant through out the Upper West Side, we might have a big problem on our hands in the next four years. That said, these people genuinely just don't want another Neo-Con in the office who can barely put together sentences. They also seem to have a warped perception of the Neo-Socialism transition that lurks beneath the words and mindsets of their deity we know as Barrak Obama. What was done to the right via neo conservatism is being done to the left via neo socialism. And the purpose, to slowly and methodically bring forth the NWO Global one world government. In 6-8 months, our dollar and country will be taken down via a financial crisis and the country will be merged with Canada and Mexico to form a North American Union with a new currency called the Amero. This currency will be worth pennies to your dollar and the entire wealth of the country will be stripped away into the pockets of the people Obama and McCain work for. Both sides of the coin have a candy shell of either "Good Values" or "Compassion and Progressiveness" that prevents the majority of each respective ilk to see the truth; which is that we have been divided, we have been concurred, and each side has been forced-feed a perverted, twisted and just plain false sense of reality that caters to each sides insecurities and ignorance. The hicks get a good-ol-boy who they want to have a beer with and play darts with and the greedy business types get a promise of pro corporate tax brakes. The left gets a charming, MLK-channeling false profit, who targets liberal white guilt infested upper middle class and a generation of young, ignorant, idealists who only know that Bush is bad and think that Obama is a symbol of rebellion against the establishment. All of the these people watch their respective propaganda idiot box programs like FOX and CNN. Little do they know, that McCain and Obama sit next to each other with the elite of the world on The Council on Foreign Relations. The entire pageant that is Decision 2008 is controlled and manipulated done to every last detail. Obama was scheduled to win this election. It is the next phase of Globalism. The republican party has been taken down on purpose to usher in a new era; the Neo Democratic movement called NEO-SOCIALISM that slowly brings in the police state mentality to every city. The list of powers that have been shifted to the presidential seat now borders on a dictatorship where the puppet in the seat can be controlled in almost every manner. Ron Paul, during his presidential primary spoke numerous times about these presidential power acts and how they need to be abolished. No other candidate would even recognize that as a legitimate issue. The US Army has become a chess piece for European bankers and Illuminati who carry out their world agenda with the blood of our citizens. They care nothing for us, we are pawns, and the shills up for election are there to do the bidding of these people. Nothing is what it seems, and the next generation is going to have to pay for our ignorance and selfishness. Vote or Die? Participate in our rigged election or die? What are they trying to tell us? Is that a threat? Watch our propaganda boxes or die? Take our prescription drugs or die? Go to our FEMA Concentration camps or die? Eat our poisoned food or die? Give us all your money and property or die? Let us implant your children with chips and take their finger print and blood for our world databases and eugenics programs or DIE?
Obama is the next president of the United States. He will soar through the next twelve months with almost dictatorship like power over the Executive and Judicial branches (thanks to the other side of the coin who setup the presidential power acts for the next shill) with all the media support and the highest approval ratings. He will go to war with Pakistan and Iran. He will continue to endorse the FEDERAL RESERVE BANK to print fiat money to further enslave us into debt. He will completely do the bidding of international power families and banking families. His contempt for the constitution will only serve as fuel to erode more civil rights. He will be the turning point for a one world government starting with the North American Union and the destruction of the dollar. His carbon tax will put millions of dollars into the pockets of bankers and strip all the middle class of what wealth is left. Obama has all the political capital he needs to implement the terrifying policies that he has already announced and beef the architecture of the police state crafted by Bush. Will the control mechanisms of the "Hegelian Dialetic" and the "Project for the New American Century" sweep through the country for another eight years. Does national sovereignty mean anything anymore. Does everyone really want a global Neo-Socialist one world government where choice and freedom are things only talked about in secret. Are we this easily manipulated? As long as big business controls the media, and big business is controlled by the Federal Reserve Bank, and the Council on Foreign Relations dictates all aspects of life in this country and our congress is bought and paid for and at the mercy of the FED and our president is a shill for NWO, we are going further into slavery. How deep the does short-sided selfishness go? Maybe our children will not fuck over their children and say no to this fascism. I truly hope that the people of this country participating on this rigged pageant we call Decision 08 can claim ignorance in the end. Because if not, this would mean we really want to be controlled. We have been dumbed down and brain washed to the point we cannot even see what is written on the wall. Obama is NOT Constitutionally or morally entitled to be President and a vote for him is a vote against America and for Marxism, Islam, and Socialism/Communism to name a few. He and his disciples say 'We Need Change!' WHAT KIND OF CHANGE?
His announced 'Change' Foreign Policy Advisers are: Zionists Zgibniew Brzezinski and Billionaire George Soros, George Herbert Walker Bush, William Jefferson Clinton, CFR/UN/NWO Richard C. Holbrooke, Cold Warrior Brent Scowcroft, Colin (Iraq WMD liar) Powell, among others. THAT'S 'CHANGE'? In reality, Obama has encircled McCain from the right and we will see much more war and extremely worsening times...that kind of change we can live without. Keep firmly in mind, Obama wants to bankrupt the entire US coal industry which could power the entire country for CENTURIES with proper environmental guarantees.
* Obama will institute FORCED national service and return the SS draft registration for our boys and girls.
* Obama voted FOR the MASS GENOCIDAL, illegal wars in Iraq and Afghanistan (BushCo has MURDERED 3-4 MILLION innocent human beings).
* Obama voted FOR increasing taxes over 70 times.
* Obama voted FOR the outrageously un-Constitutional FISA ACT
* Obama voted FOR the trillion dollar 'bailout' theft.
* Obama will seek to destroy the First and Second Amendments.
* Obama wants all Amercan children 0-5 in government indoctrination 'pre-schools'.
* Obama believes your children should be forced to learn Spanish.
* Obama has called for a 'Second Bill of Rights' - when all we need do is to proudly enforce the one we have.
And there is much, much more about this media-created, political 'rock star' to think about before casting your vote. Consider the truth about this mesmerizing, slick, highly-trained NLP mind control, NWO sock puppet whose close friends are an unrepentant bomber-killer terrorist and a jailed Chicago financial criminal. Study the FACTS before you vote. Use your head, not your reflexes and emotions. The color of his skin has less than NOTHING to do with the issues he stands upon and his 'worthiness' to be President. He is the bringer of more WAR and death to Americans and to countless others in faraway countries whose ONLY sin is that their nations have natural resources, or otherwise stand in the way of the NWO exploitation of same. Obama's adviser-controllers show unmistakable signs of attempting to provoke a war with Russia. Is that the kind of 'change' America needs? Obama is the bringer of Fascism and Socialism, of massive Corporate/Government big brother control, and a dismemberment of what's left of the Constitution of the United States of America, the greatest single piece of national governance ever conceived. This man and the NWO machine behind him represent the greatest danger to life, liberty and pursuit of happiness in American history. That's the kind of 'change' we all face. And his supporters...already blind witnesses to multiple flips on major political and social positions, will ultimately be the most shocked of all by an Obama presidency.
WAKE UP PEOPLE! WAKE UP FOR THE LOVE OF THE NEXT GENERATION OF CHILDREN WHO WONT EVEN KNOW WHAT THE BILL OF RIGHTS WAS. THEY WONT KNOW HOW THE MOST SACRED PIECE OF PAPER EVER WRITTEN KEPT THIS COUNTRY A REAL PLACE OF HOPE AND FREEDOM. EDUCATE YOURSELF ABOUT HOW THE COUNTRY WAS STOLEN 90+ YEARS AGO BY BANKERS AND HOW THEY SLOWLY STRIPPED THE WEALTH AWAY OF THE FIRST MIDDLE CLASS IN THE HISTORY MAN. LEARN ABOUT THE COUNCIL ON FOREIGN RELATIONS AND HOW THEY MANIPULATE EVERY ASPECT OF YOUR WORLD THROUGH MEDIA, FINANCE, RELIGION, SCHOOLS, BUSINESS, GOVERNMENT AND INFORMATION. LEARN ABOUT "THE PROJECT FOR THE NEW AMERICAN CENTURY" READ "THE CREATURE FROM JEKYLL" AND "THIEVES IN THE TEMPLE". BURN YOUR TV AND UNPLUG FROM THE MATRIX. UNDERSTAND HOW THE TWO PARTY SYSTEM IS THERE TO KEEP US DIVIDED AND FIGHTING EACH OTHER. DON'T TAKE SSRI'S THAT ROT YOUR BRAIN AND PREVENT YOU FROM HAVING REAL EMOTIONS. DON'T TOLERATE MONSANTO SEED BANK AND THERE NWO AGENDA TO CONTROL EVERY SINGLE LAST BIT OF FOOD. IF YOU DONT KNOW WHAT ANY OF THESE THINGS I HAVE MENTIONED ARE, THEN YOU HAVE NO BUSINESS PLEDGING SUPPORT FOR SOMEONE WHO ONLY DOES WHAT HE IS TOLD BY GLOBALIST NEO FASCISTS.
So I was thinking today, while walking south on Broadway from 101st that with this cities Messiah-like obsession with Obama running rampant through out the Upper West Side, we might have a big problem on our hands in the next four years. That said, these people genuinely just don't want another Neo-Con in the office who can barely put together sentences. They also seem to have a warped perception of the Neo-Socialism transition that lurks beneath the words and mindsets of their deity we know as Barrak Obama. What was done to the right via neo conservatism is being done to the left via neo socialism. And the purpose, to slowly and methodically bring forth the NWO Global one world government. In 6-8 months, our dollar and country will be taken down via a financial crisis and the country will be merged with Canada and Mexico to form a North American Union with a new currency called the Amero. This currency will be worth pennies to your dollar and the entire wealth of the country will be stripped away into the pockets of the people Obama and McCain work for. Both sides of the coin have a candy shell of either "Good Values" or "Compassion and Progressiveness" that prevents the majority of each respective ilk to see the truth; which is that we have been divided, we have been concurred, and each side has been forced-feed a perverted, twisted and just plain false sense of reality that caters to each sides insecurities and ignorance. The hicks get a good-ol-boy who they want to have a beer with and play darts with and the greedy business types get a promise of pro corporate tax brakes. The left gets a charming, MLK-channeling false profit, who targets liberal white guilt infested upper middle class and a generation of young, ignorant, idealists who only know that Bush is bad and think that Obama is a symbol of rebellion against the establishment. All of the these people watch their respective propaganda idiot box programs like FOX and CNN. Little do they know, that McCain and Obama sit next to each other with the elite of the world on The Council on Foreign Relations. The entire pageant that is Decision 2008 is controlled and manipulated done to every last detail. Obama was scheduled to win this election. It is the next phase of Globalism. The republican party has been taken down on purpose to usher in a new era; the Neo Democratic movement called NEO-SOCIALISM that slowly brings in the police state mentality to every city. The list of powers that have been shifted to the presidential seat now borders on a dictatorship where the puppet in the seat can be controlled in almost every manner. Ron Paul, during his presidential primary spoke numerous times about these presidential power acts and how they need to be abolished. No other candidate would even recognize that as a legitimate issue. The US Army has become a chess piece for European bankers and Illuminati who carry out their world agenda with the blood of our citizens. They care nothing for us, we are pawns, and the shills up for election are there to do the bidding of these people. Nothing is what it seems, and the next generation is going to have to pay for our ignorance and selfishness. Vote or Die? Participate in our rigged election or die? What are they trying to tell us? Is that a threat? Watch our propaganda boxes or die? Take our prescription drugs or die? Go to our FEMA Concentration camps or die? Eat our poisoned food or die? Give us all your money and property or die? Let us implant your children with chips and take their finger print and blood for our world databases and eugenics programs or DIE?
Obama is the next president of the United States. He will soar through the next twelve months with almost dictatorship like power over the Executive and Judicial branches (thanks to the other side of the coin who setup the presidential power acts for the next shill) with all the media support and the highest approval ratings. He will go to war with Pakistan and Iran. He will continue to endorse the FEDERAL RESERVE BANK to print fiat money to further enslave us into debt. He will completely do the bidding of international power families and banking families. His contempt for the constitution will only serve as fuel to erode more civil rights. He will be the turning point for a one world government starting with the North American Union and the destruction of the dollar. His carbon tax will put millions of dollars into the pockets of bankers and strip all the middle class of what wealth is left. Obama has all the political capital he needs to implement the terrifying policies that he has already announced and beef the architecture of the police state crafted by Bush. Will the control mechanisms of the "Hegelian Dialetic" and the "Project for the New American Century" sweep through the country for another eight years. Does national sovereignty mean anything anymore. Does everyone really want a global Neo-Socialist one world government where choice and freedom are things only talked about in secret. Are we this easily manipulated? As long as big business controls the media, and big business is controlled by the Federal Reserve Bank, and the Council on Foreign Relations dictates all aspects of life in this country and our congress is bought and paid for and at the mercy of the FED and our president is a shill for NWO, we are going further into slavery. How deep the does short-sided selfishness go? Maybe our children will not fuck over their children and say no to this fascism. I truly hope that the people of this country participating on this rigged pageant we call Decision 08 can claim ignorance in the end. Because if not, this would mean we really want to be controlled. We have been dumbed down and brain washed to the point we cannot even see what is written on the wall. Obama is NOT Constitutionally or morally entitled to be President and a vote for him is a vote against America and for Marxism, Islam, and Socialism/Communism to name a few. He and his disciples say 'We Need Change!' WHAT KIND OF CHANGE?
His announced 'Change' Foreign Policy Advisers are: Zionists Zgibniew Brzezinski and Billionaire George Soros, George Herbert Walker Bush, William Jefferson Clinton, CFR/UN/NWO Richard C. Holbrooke, Cold Warrior Brent Scowcroft, Colin (Iraq WMD liar) Powell, among others. THAT'S 'CHANGE'? In reality, Obama has encircled McCain from the right and we will see much more war and extremely worsening times...that kind of change we can live without. Keep firmly in mind, Obama wants to bankrupt the entire US coal industry which could power the entire country for CENTURIES with proper environmental guarantees.
* Obama will institute FORCED national service and return the SS draft registration for our boys and girls.
* Obama voted FOR the MASS GENOCIDAL, illegal wars in Iraq and Afghanistan (BushCo has MURDERED 3-4 MILLION innocent human beings).
* Obama voted FOR increasing taxes over 70 times.
* Obama voted FOR the outrageously un-Constitutional FISA ACT
* Obama voted FOR the trillion dollar 'bailout' theft.
* Obama will seek to destroy the First and Second Amendments.
* Obama wants all Amercan children 0-5 in government indoctrination 'pre-schools'.
* Obama believes your children should be forced to learn Spanish.
* Obama has called for a 'Second Bill of Rights' - when all we need do is to proudly enforce the one we have.
And there is much, much more about this media-created, political 'rock star' to think about before casting your vote. Consider the truth about this mesmerizing, slick, highly-trained NLP mind control, NWO sock puppet whose close friends are an unrepentant bomber-killer terrorist and a jailed Chicago financial criminal. Study the FACTS before you vote. Use your head, not your reflexes and emotions. The color of his skin has less than NOTHING to do with the issues he stands upon and his 'worthiness' to be President. He is the bringer of more WAR and death to Americans and to countless others in faraway countries whose ONLY sin is that their nations have natural resources, or otherwise stand in the way of the NWO exploitation of same. Obama's adviser-controllers show unmistakable signs of attempting to provoke a war with Russia. Is that the kind of 'change' America needs? Obama is the bringer of Fascism and Socialism, of massive Corporate/Government big brother control, and a dismemberment of what's left of the Constitution of the United States of America, the greatest single piece of national governance ever conceived. This man and the NWO machine behind him represent the greatest danger to life, liberty and pursuit of happiness in American history. That's the kind of 'change' we all face. And his supporters...already blind witnesses to multiple flips on major political and social positions, will ultimately be the most shocked of all by an Obama presidency.
WAKE UP PEOPLE! WAKE UP FOR THE LOVE OF THE NEXT GENERATION OF CHILDREN WHO WONT EVEN KNOW WHAT THE BILL OF RIGHTS WAS. THEY WONT KNOW HOW THE MOST SACRED PIECE OF PAPER EVER WRITTEN KEPT THIS COUNTRY A REAL PLACE OF HOPE AND FREEDOM. EDUCATE YOURSELF ABOUT HOW THE COUNTRY WAS STOLEN 90+ YEARS AGO BY BANKERS AND HOW THEY SLOWLY STRIPPED THE WEALTH AWAY OF THE FIRST MIDDLE CLASS IN THE HISTORY MAN. LEARN ABOUT THE COUNCIL ON FOREIGN RELATIONS AND HOW THEY MANIPULATE EVERY ASPECT OF YOUR WORLD THROUGH MEDIA, FINANCE, RELIGION, SCHOOLS, BUSINESS, GOVERNMENT AND INFORMATION. LEARN ABOUT "THE PROJECT FOR THE NEW AMERICAN CENTURY" READ "THE CREATURE FROM JEKYLL" AND "THIEVES IN THE TEMPLE". BURN YOUR TV AND UNPLUG FROM THE MATRIX. UNDERSTAND HOW THE TWO PARTY SYSTEM IS THERE TO KEEP US DIVIDED AND FIGHTING EACH OTHER. DON'T TAKE SSRI'S THAT ROT YOUR BRAIN AND PREVENT YOU FROM HAVING REAL EMOTIONS. DON'T TOLERATE MONSANTO SEED BANK AND THERE NWO AGENDA TO CONTROL EVERY SINGLE LAST BIT OF FOOD. IF YOU DONT KNOW WHAT ANY OF THESE THINGS I HAVE MENTIONED ARE, THEN YOU HAVE NO BUSINESS PLEDGING SUPPORT FOR SOMEONE WHO ONLY DOES WHAT HE IS TOLD BY GLOBALIST NEO FASCISTS.
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