Debt Rattle June 10 2022
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Might Skip All This (previously or currently on TAE or comments)
Pepe Escobar reviews and encapsulates Michael Hudson’s timely new book.
With The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism, Michael Hudson, one of the world’s leading independent economists, has given us arguably the ultimate handbook on where we’re at, who’s in charge, and whether we can bypass them…
.. The whole Global South will easily recognize the imperial modus operandi: “The strategy of US military and financial imperialism is to install client oligarchies and dictatorships, and arm-twist allies to join the fight against designated adversaries by subsidizing not only the empire’s costs of war-making (“defense”) but even the imperial nation’s domestic spending programs.” This is the antithesis of the multipolar world advocated by Russia and China…
..So inevitably the major imperial leverage over the world, a true “strategy of underdevelopment,” had to be financial: instrumentalizing IMF pressure to “turn public infrastructure into privatized monopolies, and reversing 20th century pro-labor reforms” via those notorious ‘conditionalities’ for loans…
..The US economy is indeed a lame post-modern remake of the late Roman empire: “dependent on foreign tribute for its survival in today’s global rentier economy.” Enter the correlation between a dwindling free lunch and utter fear: “That is why the United States has surrounded Eurasia with 750 military bases.”..
..Hudson succinctly frames the central issue facing the world today: whether “money and credit, land, natural resources and monopolies will be privatized and concentrated in the hands of a rentier oligarchy or used to promote general prosperity and growth. This is basically a conflict between finance capitalism vs. socialism as economic systems.”
To advance the struggle, Hudson proposes a counter-rentier program which should be the Global South’s ultimate Blueprint for responsible development: public ownership of natural monopolies; key basic infrastructure in public hands; national self-sufficiency – crucially, in money and credit creation; consumer and labor protection; capital controls – to prevent borrowing or denominating debts in foreign currency; taxes on unearned income such as economic rent; progressive taxation; a land tax (“will prevent land’s rising rental value from being pledged to banks for credit to bid up real estate prices”); use of the economic surplus for tangible capital investment; and national self-sufficiency in food…
..I asked him how he analyzed the current discussions between the Eurasia Economic Union (EAEU) and the Chinese – and between Russia and China, further on down the road – as being able to deliver an alternative financial/monetary system. Can they sell the alternative system to most of the planet, all while dodging imperial financial harassment?
Hudson was gracious enough to reply with what could be regarded as the summary of a whole book chapter: “To be successful, any reform has to be system-wide, not merely a single part. Today’s western economies have become financialized, leaving credit creation in private hands – to be used to make financial gains at the expense of the industrial economy… This aim has spread like leprosy throughout entire economies – their trade patterns (dependency on US agricultural and oil exports, and IT technology), labor relations (anti-unionism and austerity), land tenure (foreign-owned plantation agriculture instead of domestic self-reliance and self-sufficiency in food grains), and economic theory itself (treating finance as part of GDP, not as an overhead siphoning off income from labor and industry alike).” …
..That requires an alternative to the IMF, World Bank and ITO (from which Russia has just withdrawn). And alas, an alternative also requires military coordination such as the SCO [the Shanghai Cooperation Organization] to defend against the militarization of US-centered finance capitalism.” …
..So how to break free from dollarized debt? “They need a critical mass. That was not available in the 1970s when a New International Economic Order was first discussed. But today it is becoming a viable alternative, thanks to the power of China, the resources of Russia and those of allied countries such as Iran, India and other East Asian and Central Asian countries. So I suspect that a new world economic system is emerging. If it succeeds, the last century – since the end of World War I and the mess it left – will seem like a long detour of history, now returning to what seemed to be the basic social ideals of classical economics – a market free from rent-seeking landlords, monopolies and predatory finance.” …
..“In short, it is a conflict between two different social systems, each with their own philosophy of how societies work. Will they be planned by neoliberal financial centers centered in New York, supported by Washington’s neo-cons, or will they be the kind of socialism that the late 19th century and early 20th century envisioned – a ‘market’ and, indeed, society free from rentiers? Will natural monopolies such as land and natural resources be socialized and used to finance domestic growth and housing, or left to financial interests to turn rent into interest payments eating into consumer and business income? And most of all, will governments create their own money and steer banking to promote domestic prosperity, or will they let private banks (whose financial interests are represented by central banks) take control away from national treasuries?”Moon of Alabama observes: Washington Starts Blame Game Over Defeat In Ukraine (People don’t seem to believe the scapegoating these days, or care.)
https://www.moonofalabama.org/2022/06/washington-starts-blame-game-over-defeat-in-ukraine.html#moreThe Status of the Globalist Agenda Has Been Escalated from “Confused” to “Chaotic”
..People will claim that when I say “the West is going to collapse,” I’m being overly optimistic. Part of this is my use of hyperbolic language. I don’t actually think that the US government is going to stop existing in the near future. What I am talking about is the unseating of the US as a contender as the premier world superpower. Once it becomes clear that this is no longer in the cards, I expect there to finally be some form of recalibration. We don’t know what that will look like, or if it will be good or bad for normal people, but it will happen…
..This situation is definitely entering into the realm of “emerging chaos.” There are powerful people now calling for a scale-back, so it’s possible you could see that before the economic situation enters terminal decline. It’s also possible that this might not happen. It’s possible that the Ukraine situation could escalate directly into a world war. “Chaos” is what it sounds like it is.
In the long-term and even the medium-term, I’m hopeful about the future. The biggest impediment to people at least being allowed to choose to live normal lives has been this globalist agenda, and its failure is a victory for humanity.
https://www.unz.com/aanglin/the-status-of-the-globalist-agenda-has-been-escalated-from-confused-to-chaotic/This is good for most Texans and will lower gas and gas-powered-electricity prices this summer. It’s bad for making the EU dependent on LNG from the US.
European Gas Soars After US LNG Terminal Explosion Halts Exports For Weeks
https://www.zerohedge.com/commodities/european-gas-soars-after-us-freeport-lng-terminal-explosion Stagflation is back, due to high debt load and high oil prices, like before, but the American real-economy is not making stuff like it did before. What next?
US Consumer Prices Reaccelerate In May, Highest Since 1981
https://www.zerohedge.com/personal-finance/us-consumer-prices-reaccelerate-may-highest-1981“I don’t think it means what you think it means…” The Insurance companies might get their business-model replaced before this is over. “The oil must flow/”
Insurance Ban Is The EU’s Biggest Blow Yet To Russian Oil Exports
Joining the UK, the EU has placed a ban on insuring and financing the marine transportation of Russian oil.
The insurance ban will likely have a massive impact on Russian oil exports
https://oilprice.com/Energy/Energy-General/Insurance-Ban-Is-The-EUs-Biggest-Blow-Yet-To-Russian-Oil-Exports.htmlNO, you simply misconstrued our meaning. This is only about risks TO the US, not risks FROM the US.
A US Government Agency Accidentally Revealed the Strategic Danger of GMO Crops
Without realizing it, the USCC just accidentally revealed the strategic danger of GMO crops, namely that their genetic code can be hacked by adversaries who might then manufacture bioweapons against them in order to cause famines…
..GM seeds can be employed as weapons of Hybrid War against those states that aspire for strategic autonomy. All that the US has to do is clandestinely release bioweapons engineered to target those crops in order to cause blights that lead to famines. It would retain “plausible deniability” too since nobody could prove that it was responsible. With this in mind, those states that truly want to defend themselves from unconventional threats must urgently return to purely natural seeds in order to make it more difficult for their adversaries to employ this destabilizing scenario against them as punish for their independent foreign policies.A US Government Agency Accidentally Revealed the Strategic Danger of GMO Crops
Dr Paul Alexander was aware of the many risks, as was I. We could not understand why such high risk treatments were being pushed to healthy low risk people.
WARNING: FDA, CDC, NIH, Moderna, & Pfizer official (s) expressed their serious concerns with these mRNA vaccines at HHS, especially for children, very fearful of their safety & career destruction
I restate what was shared with me, privately, confidentially, at HHS (Operation Warp Speed) around July and August 2020, 6 months or so prior to the roll-out of the vaccines
https://palexander.substack.com/p/warning-fda-cdc-nih-moderna-and-pfizer?s=wMeryl Nass MS posts this public service announcement: It’s a good panel of well known expert speakers.
Doctors for COVID Ethics/ UK Column Symposium Saturday June 11: Freedom is the Cure
Unpacking and Defeating the Medical Tactics of World Takeover
https://merylnass.substack.com/p/doctors-for-covid-ethics-uk-column?s=rDBS,
So Actors playing MSM Russia State TV propagandists? Not actual State TV clips?
There is a 4 hour documentary that is supposed to be released in June of next year under the same name by same production company.
No biggie, I am aware of who Putin’s mouth pieces are. They want to go Truman on us.
Yup. Appears so. Every time I think I’ve got the layers figured out someone reveals yet another new layer.
@John Day
I do not possess Dr. D’s intellectual acumen – nor your knack at playing thought police.
DBS,
Have you seen the XFiles/Great Reset (WEF) mash up. I believe they pulled from a 2016 season 10 episode? I’d post the link put I’m still not there, but getting closer by the day. Sure you can find it if you haven’t seen it yet.
My wife and I were big Mulder and Scully fans. In hindsight, it definitely gives me the hebeejeebees.
The thing that is giving me some anxiety is the fact the the District Courts are not putting the Kabash on the federal/federal contractor vax mandates. Feels like an intentional slow walk to keep them in play until the next contagion wave.
That is an amazing quote. And I can understand why people get to that point. And I can understand why it then reverses. What I don’t yet get is, after it begins to decline, why does it continue for decades, an equal amount of time as the civilizational rise? After the Brainiacs in Idiocracy don’t have kids, shouldn’t it just return next generation? There may be more to this, like Nature is pushing her creations around. There’s an internal symmetry that cycles people like Nenner and Armstrong detect.
Adding to Cheeto day, Truth Social has just banned prominent “anti-vaxxer” Sherri Tenpenny … permanently. Remember, Trump, the Anti-vaxxer, created and still promotes, best vaccine ever! “I did that!” THat’s what “Anti-vax means! It means like Dr. Malone, you create and take vaccines. (#Oppositeland) Democrats, who hate Trump the anti-vaxxer, can’t jump fast enough to inject the Trump vaccine. But only because they said they don’t trust him and would never take it.
But the point: Raw Censorship. Pro Vax. Big Pharma. Donald Trump. Oh yeah, this Truth Social thing is much better than the raw censorship and anti-vax bannings we got from the old boss! The only thing you’re allowed to say is: exactly whatever I believe this minute. With the big, long nose.
Goes with their new party mascot: the Rhino.
Doing nothing, you know, ya gotta have just the riiiight Civil war, with just the right touch, by doing nothing ever. Ye olde Red and White Bolsheviks. The only way to have the best enemy is to create them yourself.
Yup. Appears so. Every time I think I’ve got the layers figured out someone reveals yet another new layer.
heheheh down to 10 ^- 18m@Armenio Pereira: I am not “thought police”. Dr. D presented a hypothesis. You have used the term “hypothesis”, but have not understood the meaning, so I helped tease it out from his example.
Others disparaged you making unfounded assumptions about TAE commenters, and I think it was harmless, but you mistook an impression you had for an established fact, without investigating whether it was a fact. You made an assumption that it would be accepted as such.A bit of self-review of initial assumptions, and a clear explanation of logical process upon those assumptions to approach some conclusion is the formation of a hypothesis. It’s part of “Scientific method” and also “legal argument”. It’s a useful technique.
Frank Zappa once inquired “Who are the brain police?”
Patrick Lancaster interviews a farmer in Kherson, Ukraine, one gets a small tour.
June 6. eng subs available
Note: Farmer was shocked to see Nazi tatoos on ‘news’ (obviously he, they, have only state / allowed news via TV), rationalising, oh some drug addicts crazy ppl (I have posted before about drug addiction and AIDS in Ukr, very high…) and then is astonished that swastikas are later shown to be frequent…and that is correponds to some kind of ‘force’…
The diesel he needed for harvest was supplied by the Russians, without any ‘deal’… His combine harvester is a John Deere. Main production: wheat.
Others around him, animal husbandry, have given up, closed down.
Why Were Ukrainian Nazis in the U.S. Capitol on January 6?
By Larry JohnsonMore on the Ukr. farming and thus food topic:
War Within the War: The Fight Over Land and Genetically Engineered Agriculture
By Mitchel Cohen – May 31, 2022, Covert Action Magazine.
Quote:
Ten months before Russian troops poured into Ukraine, that country’s President Volodymyr Zelensky signed a bill into law authorizing the private sale of farmland, reversing a moratorium that had been in place since 2001.
An earlier administration in Ukraine had instituted the moratorium in order to halt further privatization of The Commons and small farms, which were being bought up by oligarchs and concentrated in fewer and fewer hands. As documented in a series of critical reports over ten years by the Oakland Institute based in California, the moratorium on land sales in Ukraine aimed to prevent the acquisition and consolidation of farmland in the hands of the domestic oligarch class and foreign corporations. (…)
ctd:
War Within the War: The Fight Over Land and Genetically Engineered Agriculture
“Why Were Ukrainian Nazis in the U.S. Capitol on January 6?”
Well that’s easy, it was a “reichstag” fire, as some of us have been saying since it happened. Just another arrow in the quiver of the “left” on their way to try an ban all opposition. Just like those Ukrainian “liberals” 😉
The West has of course been a Ponzi/Pyramid scheme for decades now (Anyone with two firing neurons is knows), but the show must go on!
Roll the cameras, the Jan. 6 bread & circuses arena is now ready for broadcast!
All part & parcel of U$ Empire LLC induced NPD Mass Psychosis, now circling the Black Hole of EGOcentricity, with infinite increasing velocity…
And now we bring you Joe & Nancy’s Ice Cream Extravaganza!
As any spiritually sane being knows, narcissists are blocked from *FAIL* by impenetrable hubris, supported by an inhuman, feral fear.
They. Just. Can. Not. Admit. Error.
So, once they’re cornered like a criminal zombie in da hood, flailing like a scared rabbit evading reality, their final rabidly desperate reaction devolves into a psychotic episode, followed by a last ditch, suicidal tempest of destructive insanity (aka the scorched earth plan)…
You’re never taking me alive coppers! BLAM! BLAM!
The trick is to *NEVER* give the criminally insane enough rope to strangle the innocent, after they’ve been exposed through #ANTI~LIFE thinking & behavior.
But now, after decades of pathological mind-fuckery, the “American Dream” has been utterly trampled, raped, tortured, murdered & co-opted into a CRIMINAL playground…
#USA! #USA! #USA!
This now irreversible collapse (ie as America’s Event Horizon), officially kicked off in 2007-2008, when “The Owners” unleashed “The Anointed One”, to surreptitiously deploy “The End Game” aka “The Reset”, in a frothy last ditch piracy op to extract ALL assets (ie Real Wealth) away from he deplorable, useless eaters…
Oh Obummer, how you made us swoon, how the girls screamed!
Unfortunately for the remainder of mankind, comprehension that something was truly rotten in the District of Criminals (That We The People are the patsy, mark, condemned prey), was Fait Accompli, as they were titillated by The Show Of Shows!
Moochelle, the beautification crew is ready!
The last, best opportunity to stop the fascist, totalitarian dreams of U$ Empire LLC probably was over in *1992*, when Ross “You hear that giant sucking sound” Perot was rejected by “We The People” (He looks & sounds weird) ~ After that nothing could stop the (D)+(R) kleptomaniacs reindeer games…
Thus now, in 2022, the flying pigs & monkeys have done their job 110% ~ Mission Accomplished! for the banksters, MIC, media, apparatchik uniparty + *BIG Pharma/Medicine ~ We The People” have been trained like Pavlov’s dog to abandon reason & logic, to meander into cages of captivity & lock themselves in (they still have the key!), with the majority hood-winked to believe that the demented & nauseating NWO piracy is as “American” as apple pie!
Change We Can Believe In! Build Back Bet’tah!
Ultimately responsibility for the entire nightmare, for EVERYTHING that’s went wrong since WWII (actually WWII), is on “We The People”.
It’s ALL on THEM!
Drug addled child-like sheeple, who hap, hap, happily acquiesced to every psyop, propaganda scheme & corrupt, duplicitous diktat announced from (D)+(R) Uni-party Pyschopaths ~ Nary a soul noticed the absolute removal of the former USA’s Democratic Republic, nor the statutes protecting humanity’s “Natural Law” Right to Life, Liberty & The Pursuit of Happiness…
We want a chick-in-every-pot! Free skool! Jackbooted thugs! Free money! A shrubbery!
As we now see, there is no level of .GOV initiated malevolence, dishonesty, malfeasance, no limits to (D)&(R) Uni-party perversion, tyranny, piracy or clownish depravity, that “We The People” will not tolerate, support, vote into being, as long as were entertained 🙄
The makeup surgeons are here for Ms. PIGlosi & Mr. Schitt!…
Of course most of you are well aware of Real Reality, with some of us aghast with the shenanigans of Clown Show for decades now ~ My condolences 😕
Illegitimi non carborundum.
Gary
Today’s *HOT* news, vaccine edition:
Justin Bieber announced Friday that he’s canceling the rest of his world tour after being diagnosed with Ramsay Hunt syndrome.
In a video posted to Instagram, the 28-year-old singer said he has full facial paralysis on the right side of his face.
“As you can see, this eye is not blinking. I can’t smile on this side of my face. This nostril will not move,” he explained.
The U.S. government is buying more monkeypox vaccine as a surprising international outbreak continues to grow, health officials said Friday.
As of Friday, the U.S. had identified 45 cases in 15 states and the District of Columbia. More than 1,300 cases have been found in about 30 other countries outside the areas of Africa where the virus is endemic.
Officials say the risk to the American public is low, but they are taking steps to assure people that medical measures are in place to deal with the growing problem.
A two-dose vaccine, Jynneos, is approved for monkeypox in the U.S.
https://ktla.com/news/nationworld/us-buys-more-monkeypox-vaccine-as-global-case-count-tops-1300/
Chooch- At lest for a couple of days, the X-Files clip can be seen over the fence at Rense.
Wow. Goodness!@phoenixvoice said
It isn’t helpful because when we use such stereotypes to dismiss large chunks of humanity we are no different from what we hate – we begin to “other,” to see in terms of “us vs. them,” etc. We can fall into the trap a counter mass formation.
American politics is almost unique in its divide and conquer strategy. Emotional issues such as abortion, gun rights etc are used by political parties to form identities for themselves, identities that people then use to associate with the party. These issues then enable the party members to completely ignore their voters on all non-identity issues, somethings the RINOs are even named for, but they still keep on getting elected because they are members of the same identiy group as their voters.
Keeping the abortion and guns issues at the forefront is essential when it comes to election time, these issues can sway voters even if the person they are electing was caught taking millions in bribes or was cheating on his parner. America is very strange this way, but the two party system is designed and funded for this identiy politics.
Of course, one downside for the average American is that they spend too much time worrying about these emotional yet basically minor issues while the politicians get away with murder on bigger issues. One such is the Democrat hatred of guns yet they are shipping said guns all over the world and left a ton of them in Afghanistan, but their domestic audience only identify with gun control, they don’t care about war.
*BREAKING NEWS*
M$DnC has just green-lighted production of The Running man!
Due to premier prime-time Fall 2022, the show will be hosted by MC Hammer ~ Just bust a move!
Potential contestants are in CONgress secret hearings, but sources confirm the inaugural deplorable will be…*DRUM ROLL*
Disgraced General Flynn ~ Supa Meta whoo hoo!
Brought to you by Pfizer: “Our mRNA has electrolytes! Now with Monkey Pox!!!”
Great Reset clips included.
@DrD #109378
“If you usually skip me, this might be a good one to read anyway.”
You must be kidding! Thanks for another great comment, not to be missed or skipped.
‘Helping Hand Canada, Inc.’ : … we’re here to help! Really, …
… vid:
Canadian electricity industry looks to Ukrainian newcomers to meet labour demands
Companies with the Canadian electricity industry are tapping into a pool of skilled Ukrainian newcomers to meet labour demands.
https://ca.movies.yahoo.com/canadian-electricity-industry-looks-ukrainian-022804192.html
F.S.
A little while back I quipped, ” What would happen if a human fell in love with a robot ? The human would be in love and the robot wouldn’t.”
This evening I realized that, ironically, neither of them would be aware of their error.
Hmmm. There’s that old awareness factor popping up again. May have something really really fundamental to do with something really basic.
@ D Benton Smith – What would happen if a human fell in love with a robot ?
—————————Perhaps a hint in following short flick? Meet Rebeca, …
F.S.
@FigmundSreud About that Rebecca chick.
That is one damn good little movie. Takes ya right to the core question and then leaves it up to you to figure out whether a truly self aware “being” is at the other end of your intimate conversation. Universe leaves it up to you to decide. Cool.
The not so hilarious aspect, however, is that proponents of answer #1 (i.e. A THING . . . even a very pretty organically grown soft robot like Rebecca. . . .. is material, a machine system utterly devoid of the awareness which only conscious awareness itself [the soul] can experience.) think that the proponents of the other choice (answer #2 is that artificial intelligences, a material system , can produce or subjectively experience consciousness and thus experience true feelings) are absolutely, transparently, and outrageously obviously wrong.
So, what’s the truthful answer? Are human Beings soft, material, robots which are being run by spiritual, self aware souls who more or less rather identifies self as actually being that material device (the “body”) ?
Or are human beings just soft robots run amok, with no soul at the controls?
Which of those answers is patently obvious as true is obvious, isn’t it?
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