Tuesday, March 31, 2009
Greg Palast: Slick Oil
Investigative Journalist, Greg Palast, (they don't make reporters like him anymore)reports on the aftermath of the Exxon Valdez oil spill. Twenty years later, the people living in the area who had their livelihoods destroyed by the oil spill do not just justice when the court reduces compensation to 10% of the original amount. This is an example of the corporatocracy run amuck, fouling up the environment, and destroying livelihoods, with impunity.
Our Supreme Court favors the corporations even though it broke equipment readiness agreements. The media reports lies about the ship driver being drunk so that it can be blamed on human error rather than company negligence.
Greg Palast has covered many other stories, which I shall provide in future blog entries.
[Article] Greg Palast visits Alaska to report on the impact of Exxon Valdez 20 years later.
Our Supreme Court favors the corporations even though it broke equipment readiness agreements. The media reports lies about the ship driver being drunk so that it can be blamed on human error rather than company negligence.
Greg Palast has covered many other stories, which I shall provide in future blog entries.
[Article] Greg Palast visits Alaska to report on the impact of Exxon Valdez 20 years later.
Deep into the recession!
Tough time for Realtors:
Hitler didn't so well in the recession either:
What a recession car looks like:
Recession era musical gems:
Hitler didn't so well in the recession either:
What a recession car looks like:
Recession era musical gems:
Foreclosure Alley in the Inland Empire
This video is a bit old. It was released in September 2008 by KCET's Lisa Ling. It shows how piggish and negligent people are. Look at all the money that was wasted. No wonder we're headed into a depression. There's a reason why some people are not creditworthy.
John Perkins, Economic Hitman - US Empire
Ladies and gentlemen, I present to you John Perkins, Economic Hitman. He has two books out that are must reads:
1)Confessions of an Economic Hit Man
2)The Secret History of the American Empire: The Truth About Economic Hit Men, Jackals, and How to Change the World
It is futile to expect a better world by voting politicians, having marches, or writing letters. The dollar is more powerful than any of this. Vote with your dollars. Reward business practices are in line with your values. Look for sustainability, equitability, fairness, etc as key factors when deciding which business to give money to. Don't just throw your money into a 401k. Invest in a company that's doing good. Think small and think local, like your local farmer's market or neighborhood store. Change can come only through one's consumption and investment habits. Let's change the Corporatocracy to adopt our values.
Here's a few of videos of his speeches and interviews. I've also linked to the Revolutionbroadcasting.com interview with Douglass Gaking back in June 2008.
From March, 2009:
From 2006 (3 Parts) MUST WATCH:
We had the great pleasure of getting John Perkins to interview on our internet radio station during the height of the Ron Paul Revolution. Click the logo to listen to the John Perkins interview with Douglass Gaking (June 2008):
1)Confessions of an Economic Hit Man
2)The Secret History of the American Empire: The Truth About Economic Hit Men, Jackals, and How to Change the World
It is futile to expect a better world by voting politicians, having marches, or writing letters. The dollar is more powerful than any of this. Vote with your dollars. Reward business practices are in line with your values. Look for sustainability, equitability, fairness, etc as key factors when deciding which business to give money to. Don't just throw your money into a 401k. Invest in a company that's doing good. Think small and think local, like your local farmer's market or neighborhood store. Change can come only through one's consumption and investment habits. Let's change the Corporatocracy to adopt our values.
Here's a few of videos of his speeches and interviews. I've also linked to the Revolutionbroadcasting.com interview with Douglass Gaking back in June 2008.
From March, 2009:
From 2006 (3 Parts) MUST WATCH:
We had the great pleasure of getting John Perkins to interview on our internet radio station during the height of the Ron Paul Revolution. Click the logo to listen to the John Perkins interview with Douglass Gaking (June 2008):
How did Goldman Sachs and JP Morgan book higher than expected profits? Answer: AIG
George explains how AIG bailout helped Goldman Sachs and JP Morgan report higher than expected profits for the quarter thanks to the public.
[Article] Zero Hedge explains the scam in detail.
[Article] Zero Hedge explains the scam in detail.
Monday, March 30, 2009
Bush Economics aka the Hinderberg: We're made it! BOOM!
So we lived through our long class of Bush Economics (aka. the Hinderberg). Bush thought he was so slick he was going to sneak out of his Presidency before the hammer dropped. Alas, the whole economy exploded in his face before he crawled back to Texas. He thought he made it and all of a sudden, BOOM what was that?
I Love the 30's: The Hindenburg
I Love the 30's: The Hindenburg
Sunday, March 29, 2009
Question: Keep or remove the BreaktheMatrix widget?
Question: Keep or remove the BreaktheMatrix widget?
Rahm Emmanuel wants to deny you the Right to Bear Arms by putting you on the No Fly List
Check out what he says at 1:10!
Naomi Wolf is a terrorist!
There's a million people on the No Fly List! You mean to tell me there's a million terrorists in the USA?
Furthermore, what happened to innocent until proven guilty? They just can't take away your Constitutional Rights without due process!
Look at the sneakiness on Rahm Emmanuel's face as he tries to snake the law past the unsuspecting citizenry.
Pre-G20 Protests just starting up
Disillusionment toward politicians and bankers may finally be reaching critical mass.
Obama the Robot
People say Obama is a great speaker with excellent oratical skills. But what good are his words of wisdom when it's scripted by his puppet masters?
Out of touch in his Ivory Tower!
Alex Jones should show these clips in his next Obama Deception video he's working on. Yes, he's working on Obama Deception 2.
The Economic Pyramid. Has anything changed?
This Economic Pyramid is valid for all economic and social systems; capitalistic, socialist, and fascist. You will find the same people in the same positions. Only the propaganda is different.
Obama's Global New Deal in Danger: France & Germany Snub UK Brown's Plan to Inject Money
Brown snubbed over tax
Germans wreck ‘global new deal’
GORDON BROWN’S carefully laid plans for a G20 deal on worldwide tax cuts have been scuppered by an eve-of-summit ambush by European leaders.
Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “global new deal” for a $2 trillion-plus fiscal stimulus to end the recession.
“I will not let anyone tell me that we must spend more money,” she said.
The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.
Nicolas Sarkozy, the French president, has insisted that “radical reform” of capitalism is more important than tax cutting.
The attacks on Brown’s ambitions for the G20 to inject more money into the world economy come at the end of a week where the prime minister has travelled to three continents to build support for his proposals.
The assault by European Union leaders also represents a defeat for President Barack Obama, who is desperate for other big economies to copy his $800 billion stimulus plan.
Adding to the disarray, a draft of the agreement Brown hopes to secure was leaked to a German news magazine, prompting suggestions of “dirty tricks” by Berlin.
The draft stated that Britain wanted a “$2 trillion” global fiscal stimulus. However, the figure appeared only in brackets, indicating agreement on the package had yet to be reached.
[Article Link]
Germans wreck ‘global new deal’
GORDON BROWN’S carefully laid plans for a G20 deal on worldwide tax cuts have been scuppered by an eve-of-summit ambush by European leaders.
Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “global new deal” for a $2 trillion-plus fiscal stimulus to end the recession.
“I will not let anyone tell me that we must spend more money,” she said.
The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.
Nicolas Sarkozy, the French president, has insisted that “radical reform” of capitalism is more important than tax cutting.
The attacks on Brown’s ambitions for the G20 to inject more money into the world economy come at the end of a week where the prime minister has travelled to three continents to build support for his proposals.
The assault by European Union leaders also represents a defeat for President Barack Obama, who is desperate for other big economies to copy his $800 billion stimulus plan.
Adding to the disarray, a draft of the agreement Brown hopes to secure was leaked to a German news magazine, prompting suggestions of “dirty tricks” by Berlin.
The draft stated that Britain wanted a “$2 trillion” global fiscal stimulus. However, the figure appeared only in brackets, indicating agreement on the package had yet to be reached.
[Article Link]
Manmohan Singh worked for the World Bank
Manmohan Singh, moved to the US to work for the World Bank before he was elected Indian Prime Minister. He found the revolving door!
Saturday, March 28, 2009
Who's the boss? The Taxpayer or AIG?
Even with 80% ownership of the company, the CEO of AIG talks down to Congress. What does he mean by "he'll check out the implications before giving the list of names of the CDO traders"? That's like you or me going in front of the judge and telling him that you'll consult with your family and see what the implication to the family finances are before paying the traffic ticket fine.
Go Ron Paul Movement! Missouri retracts report linking militias & 3rd party candidates
Kudos to the Ron Paul movement to get rid of the insane bulletin which targeted innocent citizens by an authoritarian government.
http://www.mcclatchydc.com/politics/story/64917.html
Chocolate's Slave Labor in Africa
Did you know the majority (70%-80%) of all chocolate around the world comes from Africa, and the majority of that comes from Ivory Coast?
But there is a dark side to this. The multinational corporations are not telling you something, which is that almost all of the chocolate they source is grown by slaves in Ivory Coast, Africa.
People! Avoid M&Ms / Mars, Hersheys, Nestle, Cadbury, etc. Buy fair trade.
Here are some slave free brands:
Alter Eco
Cacao Power
Cloud Nine
Cocolo
Dagoba (at most Oregon grocery stores)
Endangered Species (Whole Foods, Target, New Seasons)
Equal Exchange (Whole Foods, New Seasons)
Green and Black’s (available at Target!)
Newman’s Own (New Seasons, Whole Foods)
Oxfam
Rapunzel (Whole Foods)
Scarborough Fair
Shaman
Tropical Source (New Season’s, Whole Foods)
To buy fair trade goods, look for the logo. Find fair trade products by zipcode Transfair USA's website. Once you are on their site, scroll down:
Cafes & Restaurants:
Ben & Jerry's Scoop Shops - Ask for Vanilla, Chocolate, Coffee or Coffee Heath Bar Crunch ice cream.
Bruegger's - Ask for their daily Fair Trade Certified brewed coffee.
Caribou Coffee - Ask for the Fair Trade Blend.
Dunkin' Donuts - Order any hot or iced espresso drink.
Einstein Bagels - Ask for their Global Village Fair Trade Blend.
Noah's Bagels - Ask for their daily Fair Trade Certified brewed coffee.
Peet's Coffee and Tea - Ask for the Fair Trade Blend.
Seattle's Best Coffee - Ask for the Fair Trade Certified Organic French Roast.
Starbucks Coffee - Ask for Cafe Estima.
Tully's Coffee - Order any hot or iced espresso drink.
Stores:
Costco - Look for Kirkland Signature FTC Coffee
Fred Meyer - Look for FTC coffee, chocolate, tea
Giant - Look for FTC flowers, coffee, tea, chocolate
Kroger - Look for FTC coffee, chocolate, tea
Safeway - Look for FTC coffee, tea, sugar
Sam's Club - Look for Member’s Mark® coffee, Neu Direction FTC wine, Peterson Farms FTC Sweetened Dried Triple Cherry & Cherry Berry Blend, FTC bananas, & online FTC flowers
Target - Look for Wandering Grape FTC wines, Archer Farms FTC coffee
Trader Joe's - Look for FTC coffee
Wal-Mart - Look for Sam's Choice FTC coffee, Peterson Farms FTC Chocolate Covered Dried Cherries
Wegman's - Look for FTC coffee, tea, chocolate, sugar
Whole Foods Market - Look for FTC coffee, tea, chocolate, wine, sugar, energy bars, body care products, flowers, rice
[Further Reading] Good article on slave chocolate
How can the blog be improved?
What are your first impressions of this blog site? Is there anything missing? Any issues?
I'll be getting better at this as time goes by. and over time, I'll make attempts to improve the appearance.
For now, your feedback is appreciated.
I'll be getting better at this as time goes by. and over time, I'll make attempts to improve the appearance.
For now, your feedback is appreciated.
Guy killing 4 Oakland police officers is celebrated
Group rallies for Lovelle Mixon:
** DOUBLE TAKE **
** DOUBLE TAKE **
George Galloway denied entry into Canada
British MP George Galloway barred from Canada under the Canada Israel "Public Security" Agreement
British MP George Galloway was refused entry to Canada on the pretext that he supported Hamas, which is categorized by the Canadian government as a "terrorist organization."
The decision was taken in close consultation with Israel under the terms of a farreaching agreement of "public security" signed by Ottawa and Tel Aviv on March 23 2008. The "Declaration of Intent" establishes a framework of bilateral cooperation in the area of "Public Security". The agreement has not been the object of debate in the Canadian parliament, nor has it received media coverage.
Full article.
British MP George Galloway was refused entry to Canada on the pretext that he supported Hamas, which is categorized by the Canadian government as a "terrorist organization."
The decision was taken in close consultation with Israel under the terms of a farreaching agreement of "public security" signed by Ottawa and Tel Aviv on March 23 2008. The "Declaration of Intent" establishes a framework of bilateral cooperation in the area of "Public Security". The agreement has not been the object of debate in the Canadian parliament, nor has it received media coverage.
Full article.
Frank Partnoy - Derivative Dangers on NPR's Fresh Air with Terry Gross
From article linked here.
Excerpts from Frank Partnoy's book:
Without derivatives, the total losses from the spike in subprime mortgage defaults would have been relatively small and easily contained. Without derivatives, the increase in defaults would have hurt some, but not that much. The total size of subprime mortgage loans outstanding was well under a trillion dollars. The actual decline in the value of these loans during 2008 was perhaps a few hundred billion dollars at most. That is a lot of money, but it represents less than 1 percent of the actual market declines during 2008.
Instead, derivatives multiplied the losses from subprime mortgage loans, through side bets based on credit default swaps. Still more credit default swaps, based on defaults by banks and insurance companies themselves, magnified losses on the subprime side bets. As investors learned about all of this side betting, they began to lose confidence in the system. When they looked at the banks' financial statements, all they saw were vague and incomplete references to unregulated derivatives. By the time banks voluntarily disclosed some additional information about their complex positions, it was too late. The dominos already had fallen.
Instead, derivatives multiplied the losses from subprime mortgage loans, through side bets based on credit default swaps. Still more credit default swaps, based on defaults by banks and insurance companies themselves, magnified losses on the subprime side bets. As investors learned about all of this side betting, they began to lose confidence in the system. When they looked at the banks' financial statements, all they saw were vague and incomplete references to unregulated derivatives. By the time banks voluntarily disclosed some additional information about their complex positions, it was too late. The dominos already had fallen.
Ironically, the banks that had prided themselves on ripping the faces off their clients ended up bearing the largest losses. Morgan Stanley was right there, announcing billions of dollars of write-offs. The subprime risks that originally had appeared to move away from the banks returned, like a financial boomerang. This time, the biggest victims were not the banks' clients. They were their own shareholders.
Ultimately, what lessons should anyone draw from my experience? I believe derivatives are the most recent example of a basic theme in the history of finance: Wall Street bilks Main Street. Since the introduction of money thousands of years ago, financial intermediaries with more information have been taking advantage of lenders and borrowers with less. Banking, and its various offshoots, has been a great business, in part because bankers have an uncanny knack for surviving century after century of scandal. In this way banking resembles politics. Just as political scandals will continue as long as we have politicians, I believe financial scandals will continue as long as we have bankers. And, despite several bank failures, massive pain, and much consolidation, there is no evidence of the banking profession disappearing anytime soon.
It might seem inconceivable, but in a few years the banks will recover and reemerge. Memories of the egregious excesses will fade, as they always do. Bankers will return to recapture their informational and regulatory advantages. The government's "Troubled Asset Repurchase Program" engineered by Bernanke and Paulson ensured that banks will survive to fight another day. And when they do, the cycle will repeat.
The main reason Wall Street will return is that we will want it to. Our financial culture is infused with a gambling mentality. Even in the midst of crisis, we don't seem to think we deserve a better chance. We continue to play the lottery in record numbers, despite the 50 percent cut. We flock to riverboat casinos, despite substantial odds against winning. Las Vegas remains the top tourist destination in the U.S., narrowly edging out Atlantic City. The financial markets are no different. Our culture has become so infused with the gambling instinct that we afford investors only that bill of rights given a slot machine player: the right to pull the handle, the right to pick a different machine, the right to leave the casino, but not the right to a fair game.
Gamblers are not steady hands. They either play too much, or not at all. When they lose faith in the markets, as they did in 2008, they will not lend or invest. Instead, they swear "never again," and sell at the bottom, when they should be buying. Investment choices oscillate between the financial equivalents of stuffing cash in a mattress and betting on the ponies. That is not an efficient way to allocate capital, but that cycle will continue. It always has. Cash can remain stashed away for only so long. Eventually, what economist John Maynard Keynes called the "animal spirits" will return, and the gambling will begin again.
Excerpted from F.I.A.S.C.O.: Blood in the Water on Wall Street by Frank Partnoy. Copyright © 2009, 1997 by Frank Partnoy.
Direct link to interview with NPR's Terry Gross on Fresh Air here. (MP3 Format)
Excerpts from Frank Partnoy's book:
Without derivatives, the total losses from the spike in subprime mortgage defaults would have been relatively small and easily contained. Without derivatives, the increase in defaults would have hurt some, but not that much. The total size of subprime mortgage loans outstanding was well under a trillion dollars. The actual decline in the value of these loans during 2008 was perhaps a few hundred billion dollars at most. That is a lot of money, but it represents less than 1 percent of the actual market declines during 2008.
Instead, derivatives multiplied the losses from subprime mortgage loans, through side bets based on credit default swaps. Still more credit default swaps, based on defaults by banks and insurance companies themselves, magnified losses on the subprime side bets. As investors learned about all of this side betting, they began to lose confidence in the system. When they looked at the banks' financial statements, all they saw were vague and incomplete references to unregulated derivatives. By the time banks voluntarily disclosed some additional information about their complex positions, it was too late. The dominos already had fallen.
Instead, derivatives multiplied the losses from subprime mortgage loans, through side bets based on credit default swaps. Still more credit default swaps, based on defaults by banks and insurance companies themselves, magnified losses on the subprime side bets. As investors learned about all of this side betting, they began to lose confidence in the system. When they looked at the banks' financial statements, all they saw were vague and incomplete references to unregulated derivatives. By the time banks voluntarily disclosed some additional information about their complex positions, it was too late. The dominos already had fallen.
Ironically, the banks that had prided themselves on ripping the faces off their clients ended up bearing the largest losses. Morgan Stanley was right there, announcing billions of dollars of write-offs. The subprime risks that originally had appeared to move away from the banks returned, like a financial boomerang. This time, the biggest victims were not the banks' clients. They were their own shareholders.
Ultimately, what lessons should anyone draw from my experience? I believe derivatives are the most recent example of a basic theme in the history of finance: Wall Street bilks Main Street. Since the introduction of money thousands of years ago, financial intermediaries with more information have been taking advantage of lenders and borrowers with less. Banking, and its various offshoots, has been a great business, in part because bankers have an uncanny knack for surviving century after century of scandal. In this way banking resembles politics. Just as political scandals will continue as long as we have politicians, I believe financial scandals will continue as long as we have bankers. And, despite several bank failures, massive pain, and much consolidation, there is no evidence of the banking profession disappearing anytime soon.
It might seem inconceivable, but in a few years the banks will recover and reemerge. Memories of the egregious excesses will fade, as they always do. Bankers will return to recapture their informational and regulatory advantages. The government's "Troubled Asset Repurchase Program" engineered by Bernanke and Paulson ensured that banks will survive to fight another day. And when they do, the cycle will repeat.
The main reason Wall Street will return is that we will want it to. Our financial culture is infused with a gambling mentality. Even in the midst of crisis, we don't seem to think we deserve a better chance. We continue to play the lottery in record numbers, despite the 50 percent cut. We flock to riverboat casinos, despite substantial odds against winning. Las Vegas remains the top tourist destination in the U.S., narrowly edging out Atlantic City. The financial markets are no different. Our culture has become so infused with the gambling instinct that we afford investors only that bill of rights given a slot machine player: the right to pull the handle, the right to pick a different machine, the right to leave the casino, but not the right to a fair game.
Gamblers are not steady hands. They either play too much, or not at all. When they lose faith in the markets, as they did in 2008, they will not lend or invest. Instead, they swear "never again," and sell at the bottom, when they should be buying. Investment choices oscillate between the financial equivalents of stuffing cash in a mattress and betting on the ponies. That is not an efficient way to allocate capital, but that cycle will continue. It always has. Cash can remain stashed away for only so long. Eventually, what economist John Maynard Keynes called the "animal spirits" will return, and the gambling will begin again.
Excerpted from F.I.A.S.C.O.: Blood in the Water on Wall Street by Frank Partnoy. Copyright © 2009, 1997 by Frank Partnoy.
Direct link to interview with NPR's Terry Gross on Fresh Air here. (MP3 Format)
Catherine Austin Fitts - Fraud and Corruption from The Fed
Catherine Austin Fitts is a brave soul with limitless energy to shed light upon the fraud, lies, and corruption which infests the system consisting of The Fed, the big banks, the multinational corporations, and government agencies with revolving door policies which lock arms with private entities. She was a former Assistant Secretary of HUD under the George Bush Sr. administration.
Coast to Coast's Art Bell interviews Catherine Austin Fitts on 12-18-2008.
Downloaded the interview. (MP3 format)
Coast to Coast's Art Bell interviews Catherine Austin Fitts on 12-18-2008.
Downloaded the interview. (MP3 format)
Friday, March 27, 2009
Best Max Keiser yet! On France24 03-27-2009
Thursday, March 26, 2009
The beginning.
So here we go with the start of the blog. Let's see how far it will go..
The name is akin to asking 'But Why?' as in why did an event occur and why did it happen the way that it did?
The name is akin to asking 'But Why?' as in why did an event occur and why did it happen the way that it did?
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