LILA RAJIVA: The Mind-Body Politic
Individuals Not Ideologies
Equal People Are Not Free
“Equal people are not free, the second half of my first principle, really gets down to brass tacks. Show me a people anywhere on the planet who are indeed equal economically, and I’ll show you a very unfree people. Why?
The only way in which you could have even the remotest chance of equalizing income and wealth across society is to put a gun to everyone’s head. You would literally have to employ force to make people equal. You would have to give orders, backed up by the guillotine, the hangman’s noose, the bullet or the electric chair. Orders that would go like this: Don’t excel. Don’t work harder or smarter than the next guy. Don’t save more wisely than anyone else. Don’t be there first with a new product. Don’t provide a good or service that people might want more than anything your competitor is offering.
Believe me, you wouldn’t want a society where these were the orders. Cambodia under the communist Khmer Rouge in the late 1970s came close to it, and the result was that upwards of 2 million out of 8 million people died in less than four years. Except for the elite at the top who wielded power, the people of that sad land who survived that period lived at something not much above the Stone Age.”
My Comment:
The Reed quote shouldn’t be misconstrued.
Reed isn’t advocating violence against the government...he is making the commonplace observation that, ultimately, government authority is backed up by force…and he then gives examples of that force…from the guillotine (revolutionary government of France)..to the bullet (modern standing army, police officers etc.).
Now, is every one who resists paying tax, for example, going to be eliminated? Obviously not. Much more likely, they’re in for a long, tedious court battle, endless letters, petitions and hearings…culminating in a fine/penalty, confiscation of their property, possibly a jail sentence.
But let’s not get sentimental. Should you resist court orders and flee, you can be shot. Should you resist a warrant or arrest physically, it’s almost a certainty you will be shot. This isn’t the violence of the citizen. This is the violence behind Leviathan.
Pointing it out doesn’t make me an advocate of violence. It makes me realistic.
It’s why I don’t advocate physical resistance. It would be very stupid today, against the kind of arsenal the federal government has at its command. Nor do I advocate tax evasion.
Legal tax avoidance I heartily recommend, as does the IRS itself. However, I don’t see why I should regard anyone at the receiving end of state justice to be necessarily guilty of some great moral sin.
There’s legitimate authority (the cop who comes to a victim’s defense) and there’s corrupt authority (tax laws or criminal penalties applied differentially to the powerful and the powerless).They are two different things.
There are crimes that involve injustice to another human being (murder, fraud) and there are legal infractions that are based simply on dissidence from the prevailing views on economic freedom and justice (many so-called tax “crimes”). Those are two different things…
Illegal Immigrant Workers
David Kramer, at Lew Rockwell blog:
“You know what an “illegal” immigrant worker is, don’t you? It’s someone who voluntary decides to move from one piece of land on the planet Earth to another piece of piece of land on the planet Earth because he or she knows of a person at that second piece of land on the planet Earth who wants to voluntarily exchange with him or her a medium of exchange for his or her labor services—but wasn’t given permission to by a third party with a gun (i.e., the government).”
Camus On God
“I would rather live my life as if there is a God and die to find out there isn’t, than live my life as if there isn’t and die to find out there is.”
Portugal and Spain In Trouble Too…
Will Frankfurt (the European Central Bank) come to the rescue of Greece, or Spain, or Portugal? Maybe in the end, but not now, reports Ambrose Evans-Pritchard in The Telegraph:
“Mr Callow of Barclays said EU leaders will come to the rescue in the end, but Germany has yet to blink in this game of “brinkmanship”. The core issue is that EMU’s credit bubble has left southern Europe with huge foreign liabilities: Spain at 91pc of GDP (€950bn); Portugal 108pc (€177bn). This compares with 87pc for Greece (€208bn). By this gauge, Iberian imbalances are worse than those of Greece, and the sums are far greater. The danger is that foreign creditors will cut off funding, setting off an internal EMU version of the Asian financial crisis in 1998.
Jean-Claude Trichet, head of the European Central Bank, gave no hint yesterday that Frankfurt will bend to help these countries, either through loans or a more subtle form of bail-out through looser monetary policy or lax rules on collateral. The ultra-hawkish ECB has instead let the M3 money supply contract over recent months.”
Mr Trichet said euro members drew down their benefits in advance — “ex ante” — when they joined EMU and enjoyed “very easy financing” for their current account deficits. They cannot expect “ex post” help if they get into trouble later. These are the rules of the club.”
Europe Thumbs Its Nose At G-Sax, Banksters
“For the first time in five years, no big US investment bank appears among the top nine sovereign bond bookrunners in Europe, according to Dealogic data compiled for the Guardian. Only Morgan Stanley ranks at number 10.
Goldman Sachs doesn’t make the table. Goldman made it to number five last year and in 2006, and number eight in 2007, the data shows. JP Morgan was in the top ten last year and in 2007 and 2006 but doesn’t appear this year.
“Governments do not have the confidence that the excessive risk-taking culture of the big Wall Street banks has changed and they still cannot be trusted to put the stability of the financial system before profit,” said Arlene McCarthy, vice chair of the European parliament’s economic and monetary affairs committee. “It is no surprise therefore that governments are reluctant to do business with banks that have failed to learn the lesson of the crisis. The banks need to acknowledge the mistakes that were made and behave in an ethical way to regain the trust and confidence of governments.”
Harry Markopolos On The SEC
The Daily Show With Jon Stewart Mon - Thurs 11p / 10c Harry Markopolos Daily Show
Full EpisodesPolitical Humor Health Care Reform Rogers Tells Greeks To Go Bust
Rogers gets it right, as usual. From the Wall Street Pit:
“Commodities legend Jim Rogers talks in this Bloomberg interview about Greece’s fiscal problems which needless to say are hardly a new development. According to Rogers, a bankruptcy for Greece would benefit the euro.
“They should let Greece go bankrupt,” said Rogers. “It would be good for the euro. It would be good for Greece. It would be good for everybody. If Greece went bankrupt then everybody would say, boy, the euro is serious, is going to be a sound currency and the euro would go straight up. Is not gonna happen that way, but that’s what should happen.”
Exactly right. Currencies go under because the governments behind them behave imprudently, as Cato’s Dan Mitchell points out.
Robert Wenzel, who has been right on top of the Greek story, writes:
“In fact, a Greek bankruptcy would be the best thing for the euro. It would show that the European monetary union is less subject to political pressures than individual sovereign states, for most assuredly the PIIGS, if they still managed their own moneys right now, would certainly be printing away right now.”
Had the US let the financial industry go under and refused to bail them out, the dollar would immediately have shot up. The decline of the dollar reflects the market’s loss of faith in the US and its reserve currency.
When governments act like genuine market participants - i.e. take their medicine - their currencies strengthen. Greece, acting on its own, showing independence of European bureaucratic constraints or bail-outs, would have to be a positive for the euro, because it indicates an end to the bottomless pit of financial irresponsibility..
Rogers is also right that speculation isn’t the prime mover of these events.
In the Greek case, I understand the notional value of the CDS’s (credit default swaps) involved are not big enough to impact the debt. However, for whatever reason, Rogers avoids talking about the larger issue of fraud in the use of currency swaps, fraud in the original contracts, and fraud in short-attacks, which are quite a different matter from market participants voicing their “opinion.” (the notional value of CDS in relation to debt is apparently not large in this case, though it’s important in other cases, like AIG)
Rogers, like the rest of the financial industry, is thus talking the professional ideology of the financial industry, and you can see all the others - from Mish Shedlock to Zerohedge to Chanos - lining up to defend that ideology.
It’s unfortunate, but it’s also something I feared…that some of the “citizen journalist” sites would corral popular outrage over Goldman Sachs and its allied hedge funds….and then steer that outrage in ways that protect the industry. And that they would finally end in support of the big players, while defusing the original anger into essentially useless diatribes. Meanwhile, those engaged in any action that might actually weaken the powers-that-be would be demonized and marginalized.
That’s seems to be what’s happened. Which is why the call for a ban of CDS contracts strikes me as not (necessarily) terribly useful.
My point is that that while it’s true that CDS’s have been gamed, a ban on them distracts from all the other issues of fraud. CDS’s are sold as if they’re insurance….and they’re used to gamble on price-movements. A player intent on fraud doesn’t need to rely on CDS contracts alone to commit a fraud. Ban CDS contracts, and he will just use another technique. Again, the problem is not the CDS contracts themselves, but the fraud involving them.
To recognize this, you just need to go back a bit. If you rewind twenty-five years, to Milken’s junk-bond innovations, there too what ought to have been an instrument of financing became an instrument of gambling.
Read Michael Lewis’ Liar’s Poker for a brilliant account from a former insider. Yet, today, it is Lewis, with Einhorn, who’s arguing to ban CDS’s. You’d think Lewis of all people would know it isn’t the gun that’s the problem, it’s the people who use guns to commit crimes. (Felix Salmon has a good criticism of Lewis on CDS’s at Portfolio.com).
Indeed, Lewis himself makes that point in his book:
Quote:
“Junk bonds behave much more like equity, in shares, than old-fashioned corporate bonds…… Therein lies one of the surprisingly well-kept secrets of Milken’s market. Drexel’s research department , because of its close relationships with companies, was privy to raw inside corporate data that somehow never found its way to Salomon Brothers. **When Milken trades junk bonds, he has inside information. Now it is quite illegal to trade in stocks on inside information, as former Drexel client Ivan Boesky has ably demonstrated. But there is no such law regarding bonds*** (My emphasis)
……Not surprisingly, the line between debt and equity, so sharply drawn in the mind of a Salomon bond trader (Equities in Dallas!) becomes blurred in the mind of a Drexel bond trader…” (p. 217)
Lila: Eventually, the flood of money attracted to junk bonds had to find new places to go. From that, sprang the leveraged buy-outs (LBO’s), the corporate raids of the 1980s.
Quote:
“The new and exciting job of invading corporate boardrooms appealed mainly to men of modest experience in business and a great deal of interest in becoming rich. Milken funded the dreams of every corporate raider of note: Ronald Perelman, Boone Pickens, Carl Icahn, Irwin Jacobs, Sir James Goldsmith, Nelson Peltz, Samuel Heyman, Saul Steinberg, and Asher Edelman….” (P. 220)
Lila: Transpose an octave….fast forward twenty-five years…and you could be describing CDS’s…. And just as the problem then was not the junk bonds themselves, but the use made of them (to gamble and raid companies), so too with CDSs.
Of course, the raiders saw themselves as performing a valuable service in cutting out fat from management…and in many cases, that was so. But, killing someone to cure him isn’t usually regarded as the most brilliant of remedies. Why should it be different in the financial industry?
Again, the problem is the actors and the activity, not the instrument. We need to differentiate between them. We also need to differentiate clearly between short-selling (legitimate) and naked short-selling (fraudulent); between speculation (helpful to the markets proportionate to economic activity), versus casino capitalism (extremely game-changing and dangerous where it is now); between investment (socially productive) and gambling (socially destructive); between legal and fraudulent activity.
Now they’re all mashed up and argued fungibly.
People blame either the government..or the speculators, black and white, forgetting that in many cases the speculators ARE the governments…in the sense that they’re in collusion with some of the banks that have their functionaries creating government policies, and have their advocates in the media, influencing public opinion as they wish.
More on this later….
Meanwhile, sift through the opinion-making carefully…looking for a confusion of all the terms I’ve listed. Wherever you find that confusion, be wary. Sometimes the confusion is just honest error. The rest of the time it seems to show an intent to mislead.
Climate Scientists: Academic Barrow Boys
Climate scientists are fighting back, reports The Washington Times.
Paul R. Ehrlich, a Stanford University researcher says:
“Most of our colleagues don’t seem to grasp that we’re not in a gentlepersons’ debate, we’re in a street fight against well-funded, merciless enemies who play by entirely different rules.”
Of course, climate skeptics (or rather, critics of anthropogenic global warming, AGW) would argue that it’s the climatistas who’ve brought Barrow boy (street-wise) tactics into what ought to be a nice, genteel gathering of Harrow alumni.
Popular British TV writer and eminent free-speech QC, John Mortimer, author of the serial, “Rumpole of the Bailey,” saw through this convenient sentimentality about “gentlepersons” a bit more keen-sightedly than most.
In one episode of the serial, Rumpole, Mortimer’s aging, scruffy, Shakespeare-quoting Old Bailey barrister, defends Nigel Timson, a youthful member of a clan with an inelegant and chequered past, a true Barrow boy, who’s accused of insider- trading at the silk-stocking firm where he’s a broker.
It doesn’t help things that Nigel is living with the daughter of the head of the firm, who isn’t keen on a Barrow boy for a son-in-law. The plot-twist is that the Barrow boy, despite his spotty family history, is actually innocent. I won’t tell you the rest, but the larger point is that clever crooks know how to play to their advantage on public preconceptions about class behavior.
The same holds true for university intellectuals. They also usually enjoy the general presumption that they hold to higher standards of behavior and ethics than the ‘baser sort’ outside the ivory towers. What the climate fracas shows is that that presumption might be just as outdated as the presumption about the virtues of Harrow boys that Rumpole overturns…
Kurt Tucholsky On Love Of Country
“We have just written “no” on 225 pages, “no” out of sympathy and “no” out of love, “no” out of hate and “no” out of passion - and now we would like to say “yes” for once. “Yes” - to the countryside and the country of Germany America. The country where we were born and whose language we speak. (…)
And now I would like to tell you something: it is not true that all those who call themselves ‘national’ and who are nothing but gentrified militants have taken out a lease on this country and its language just for them. Germany America is not just a government representative in his tailcoat, nor is it a headmaster, nor is it the ladies and gentlemen of the steel helmets. We are here too. (…)
Germany America is a divided country. We are one part of it. And whatever the situation, we quietly love our country - unshakably, without a flag, or a street organ, no sentimentality and no drawn sword.”
(Kurt Tucholsky, Heimat, in Deutschland, Deutschland über alles, Berlin 1929, p. 226)
Chinese Electronic Espionage Leads To UK Office of Cyber Security…
The Times Online reported in January that the UK’s MI5 was battling devious Chinese attempts to entrap UK businessmen, with electronic bugging devices….and sexual “honey traps”. (Not as imaginative as the CIA’s “acoustic kitty,“ but probably more effective):
“A leaked MI5 document says that undercover intelligence officers from the People’s Liberation Army and the Ministry of Public Security have also approached UK businessmen at trade fairs and exhibitions with the offer of “gifts” and “lavish hospitality”.
The gifts — cameras and memory sticks — have been found to contain electronic Trojan bugs which provide the Chinese with remote access to users’ computers.
MI5 says the Chinese government “represents one of the most significant espionage threats to the UK” because of its use of these methods, as well as widespread electronic hacking.
Written by MI5’s Centre for the Protection of National Infrastructure, the 14-page “restricted” report describes how China has attacked UK defence, energy, communications and manufacturing companies in a concerted hacking campaign.
It claims China has also gone much further, targeting the computer networks and email accounts of public relations companies and international law firms. “Any UK company might be at risk if it holds information which would benefit the Chinese,” the report says.
The explicit nature of the MI5 warning is likely to strain diplomatic ties between London and Beijing. Relations between the two countries were damaged last month after China’s decision to execute a mentally ill British man for alleged drug trafficking.
Earlier this month the United States demanded that China investigate a sophisticated hacking attack on Google and a further 30 American companies from Chinese soil.
China has occasionally attempted sexual entrapment to target senior British political figures. Two years ago an aide to Gordon Brown had his BlackBerry phone stolen after being picked up by a Chinese woman who had approached him in a Shanghai hotel disco.”
So now you know better than to fraternize too cozily at a Chinese trade event.
The 14-page “restricted” report by MI5 Director General, Jonathan Evans, lists attacks on UK defense, energy, communications and manufacturing companies and is the latest and most explicit warning from UK authorities on Chinese espionage. It was sent to hundreds of business leaders in 2009.
Evans’ lobbying led to the creation of the Office of Cyber Security (due to open in March 2010).
The UK only follows the US on this. As far back as June 2009, Barack Obama announced the need for a new official position to oversee cybersecurity in the US, a move applauded by some in the IT community, like McAfee’s Director of Threat Intelligence, Phyllis Schneck, but criticized by others, like Wayne Crews, VP at the Competitive Enterprise Institute, who argued that attempts to collectivize and centralize information technology risks were liable to crowd out private enterprise solutions.
The Cat They Sent Out Into The Cold…
The more you dig into the history of the CIA’s covert programs, the more it resembles not so much a fast-paced who-dunnit as a low-rent why-ever-did-they-do-it. Only it wasn’t low rent. A hefty wad of tax-payer money subsidized such expensive follies as Project Acoustic Kitty, in which the agency’s whizzes tried to turn man’s favorite feline into a wired-up bot that would snoop on conversations in back-alleys:
“Victor Marchetti, a former CIA officer, told The Telegraph that Project Acoustic Kitty was a gruesome creation. He said: “They slit the cat open, put batteries in him, wired him up. The tail was used as an antenna. They made a monstrosity. They tested him and tested him. They found he would walk off the job when he got hungry, so they put another wire in to override that.”
Mr Marchetti said that the first live trial was an expensive disaster. The technology is thought to have cost more than £10 million. He said: “They took it out to a park and put him out of the van, and a taxi comes and runs him over. There they were, sitting in the van with all those dials, and the cat was dead.”
The document, which was one of 40 to be declassified from the CIA’s closely guarded Science and Technology Directorate - where spying techniques are refined - is still partly censored. This implies that the CIA was embarrassed about disclosing all the details of Acoustic Kitty, which took five years to design.
Dr Richelson, who is the a senior fellow at the National Security Archive in Washington, said of the document: “I’m not sure for how long after the operation the cat would have survived even if it hadn’t been run over.”
From “CIA Recruited Cat To Bug Russians,” The Telegraph, November, 2001
Roderick Long On Confucian Libertarianism
Masterful libertarian scholar, Roderick Long, has a very long, fascinating paper, “Rituals of Freedom: Austro-Libertarian Themes In Early Confucianism,” at Mises.org. It traces libertarian ideas in Confucian thought, and makes a convincing argument that Confucianism is a better source of libertarian inspiration than the much more frequently cited Daoism.
I’m republishing a post on Long’s paper by Brian Caplan, at Marginal Revolution, because the pdf of Long’s paper isn’t very reader-friendly for a blog and Caplan has nice quotes from the piece.
“Unfortunately, Long points out, a much stronger theme in Taoist is primitivist hostility to modern civilization. Listen to Lao-tzu describe the Taoist utopia:
Lessen the population. Make sure that even though there are labor saving tools, they are never used. Make sure that the people look upon death as a weighty matter and never move to distant places. Even though they have ships and carts, they will have no use for them. … Make sure that the people return to the use of the knotted cord [in lieu of writing]. … Then even though neighboring states are within sight of each other, [and] can hear the sounds of each other’s dogs and chickens … people will grow old and die without ever having visited one another.
In contrast, Long finds much of value in the Confucians:
The early Confucians, by contrast, may not be as radical in their anti-statism as the Taoists, but in my estimation they make up for this flaw by firmly yoking their anti-statism to the cause of civilization, commerce, and the Great Society; their overall program thus looks a lot more like contemporary libertarianism than the Taoist program does. One Confucian text, while noting approvingly Laozi’s hostility to despotism, sharply criticizes Laozi for wanting to “drag the present age back to the conditions of primitive times and to stop up the eyes and ears of the people”; the best ruler instead “accepts the nature of the people,” which is to long for “beautiful sounds and forms,” “ease and comfort.”
The highlight of Long’s article is his discussion of the Sima Qian (c. 145-85 B.C.). Almost two thousand years before Adam Smith, Qian opined that “Wealth and currency should be allowed to flow as freely as water!” and had arguments to defend his position. And who said that Chinese intellectuals had no appreciation for the merchant class? Few Western thinkers match Sima’s appreciation of entrepreneurship:
These, then, are examples of outstanding and unusually wealthy men. None of them enjoyed any titles or fiefs, gifts, or salaries from the government, nor did they play tricks with the law or commit any crimes to acquire their fortunes. They simply guessed what course conditions were going to take and acted accordingly, kept a sharp eye out for the opportunities of the times, and so were able to capture a fat profit. … There was a special aptness in the way they adapted to the times …. All of these men got where they did because of their devotion and singleness of purpose. … [T]here is no fixed road to wealth, and money has no permanent master. It finds its way to the man of ability like the spokes of a wheel converging upon the hub, and from the hands of the worthless it falls like shattered tiles. … Rich men such as these deserve to be called the “untitled nobility” …
Murray Rothbard praised Sima in his history of economic thought, but Long notes that he neglected to mention that he was a Confucian!
It is hard to read this piece and not stand in awe of Long’s command of the Chinese literature. This is a body of thought comparable to Western philosophy in its intricacy and depth. Even if you couldn’t care less about Chinese proto-libertarians, this article exemplifies the true meaning of scholarship. And so the Sage says: check it out!”
Shocks And Doctrines: WSJ Uses Quake To Critique Klein
Bret Stephens in the Wall Street Journal adds some nuance to Naomi Klein’s black-and-white picture of Milton Friedman’s contributions to the Chilean economy, noting how prosperity and effective enforcement of building codes have protected Chilean victims of the recent earthquake from the devastation that Haiti suffered:
“In left-wing mythology—notably Naomi Klein’s tedious 2007 screed “The Shock Doctrine”—the Chicago Boys weren’t just strange bedfellows to Pinochet’s dictatorship. They were complicit in its crimes. “If the pure Chicago economic theory can be carried out in Chile only at the price of repression, should its authors feel some responsibility?” wrote New York Times columnist Anthony Lewis in October 1975. In fact, Pinochet had been mostly indifferent to the Chicago Boys’ advice until the continuing economic crisis forced him to look for some policy alternatives. In March 1975, he had a 45-minute meeting with Friedman and asked him to write a letter proposing some remedies. Friedman responded a month later with an eight-point proposal that largely mirrored the themes of the Chicago Boys.
For his trouble, Friedman would spend the rest of his life being defamed as an accomplice to evil: at his Nobel Prize ceremony the following year, he was met by protests and hecklers. Friedman himself couldn’t decide whether to be amused or annoyed by the obloquies; he later wryly noted that he had given communist dictatorships the same advice he gave Pinochet, without raising leftist hackles.
As for Chile, Pinochet appointed a succession of Chicago Boys to senior economic posts. By 1990, the year he ceded power, per capita GDP had risen by 40% (in 2005 dollars) even as Peru and Argentina stagnated. Pinochet’s democratic successors—all of them nominally left-of-center—only deepened the liberalization drive. Result: Chileans have become South America’s richest people. They have the continent’s lowest level of corruption, the lowest infant-mortality rate, and the lowest number of people living below the poverty line.
Chile also has some of the world’s strictest building codes. That makes sense for a country that straddles two massive tectonic plates. But having codes is one thing, enforcing them is another. The quality and consistency of enforcement is typically correlated to the wealth of nations. The poorer the country, the likelier people are to scrimp on rebar, or use poor quality concrete, or lie about compliance. In the Sichuan earthquake of 2008, thousands of children were buried under schools also built according to code.
In “The Shock Doctrine,” Ms. Klein titles one of her sub-chapters “The Myth of the Chilean Miracle.” In her reading, the only thing Friedman and the Chicago Boys accomplished was to “hoover wealth up to the top and shock much of the middle class out of existence.” Actual Chileans of all classes—living in the aftermath of an actual shock—may take a different view of Friedman, who helped give them the wherewithal first to survive the quake, and now to build their lives anew.”
My Comment:
Friedman, was, of course, from an Austrian perspective, far from being an ideal free-marketer. In a devastating piece, “Milton Friedman Unraveled,” (1971), Rothbard even questioned his claim to be called a free marketer of any kind, listing among many sins, his advocacy of withholding taxes and of an absolute dollar standard.
All true, no doubt. But the fact remains, even if it was only in a very constrained sense that he advocated more freedom in the markets, he did advocate it. And as the article above suggests, contra Rothbard, even a limited advocacy of market freedom is better than an outright assault on it.
Marc Faber On The Economy On Financial Sense Newshour
Glenn Greenwald On Intellectual Credibility
Glenn Greenwald never fails. I was just catching up on the infamous Leon Wieseltier-Andrew Sullivan ethno-politico-theological brouhaha of last month that I completely missed while trekking around Latin America, and I found this simple but wise paragraph:
“What one thinks of Andrew Sullivan, or how angry he’s made one over the years, ought to be about the most irrelevant factor imaginable in determining one’s reaction to this TNR attack. Sometimes, even people you don’t like are the targets of odious and harmful accusations, and sometimes, even your Bestest Friends, fellow party members and listserv pals might do wrong things that merit criticism. Wieseltier’s polemic is a classic example of anti-semitism accusations tossed around with no conceivable basis and for purely ignoble ends. It’s the very tactic that has caused significant damage in the past. So obviously unhinged is this particular assault that it actually presents a good opportunity to discredit behavior like this once and for all. That’s all that should matter; how many grudges one nurses towards Andrew Sullivan is nice fodder for gossipy listserv chats, but no responsible or even adult commentator would allow it to influence one’s views on this matter.”
And that’s why Glenn Greenwald is one of the very few mainstream writers on politics I can read regularly without a bad case of moral indigestion.
Other good responses to Wieseltier came from Sullivan himself, and from Matthew Yglesias and Joe Klein.
Yglesias’s post minced no words:
“For the purposes of intimidation, after all, baseless charges work better than well-grounded ones. Nikolai Krylenko, Bolshevik Minister of Justice, said “we must execute not only the guilty, execution of the innocent will impress the masses even more.” And it’s much the same here. If you call anti-semites anti-semites, then people who aren’t motivated by anti-Jewish racism will figure “hey, since my political opinions aren’t motivated by anti-Jewish racism, then I’m safe.” The idea is to put everyone on notice that mere innocence will be no defense.”
The only problem was I wasn’t actually clear from reading Yglesias (apparently a long-time sparring partner of Wieseltier’s) where exactly runs the thin red line you can’t cross. Maybe that takes years of hanging out at MSM confabs, a future I’m as likely to encounter as sequestration in a Saudi harem.
Reading Sullivan, on the other hand, I felt I was reprising some of my own intellectual history:
“As a Jew and a Catholic, we read Buddhist scriptures together. We were, in fact, somewhat painfully alike in many ways: religious traditionalists whose reverence for our faiths was also marked by our rebellion within them. We share a commitment to secularism and religion, these days a very rare combination. His mentor was Isaiah Berlin; mine Michael Oakeshott.”
But, finally, it’s Jeffrey Goldberg, taking Wieseltier’s part, who - with minor adjustments- gets the final word on the whole sad business:
“I wish that he (Lila: all of them) would open up that their hearts to complexity.”
Israel-Palestine Problem Exhibits Wound Of PTSD
At Forward, Leonard Fine puts his finger on the emotional trauma underlying the intellectual and political impasse in the Middle East:
“From time to time in this space, I’ve made passing reference to the post-traumatic stress disorder that afflicts Israelis (and the Palestinians, too). It may be a bit of a stretch, but there is a growing literature that suggests that not only individuals, but social institutions, can suffer from PTSD. Thus, for example, Loren and Barbara Cobb, in an article entitled “The Persistence of War,” argue that “specific symptoms of untreated PTSD are particularly troublesome for the social institutions of a society suffering from epidemic levels of these disorders. These symptoms are: hypervigilance, emotional numbing, denial and avoidance, seeing the world in black and white, magical thinking, and apocalyptic thinking.”
They go on to quote Dr. Jonathan Shay, widely regarded as among the giants in the study of PTSD: “Democratic process entails debate, persuasion, and compromise. These presuppose the trustworthiness of words. The moral dimension of severe trauma, the betrayal of ‘what’s right,’ obliterates the capacity for trust. The customary meanings of words are exchanged for new ones; fair offers from opponents are scrutinized for traps; every smile conceals a dagger.”
In the American military experience, PTSD most often arises when a soldier has witnessed the deaths or terrible wounds of his or her comrades. That happens in Israel, too, of course.
But in Israel, whole societies are the witnesses, and the word “post” is, alas, premature. The traumas are very much ongoing, and we do not yet have the clinical vocabulary to comprehend them.
For Jews, the great trauma is, of course, the Holocaust itself, the systematic and ultimately incomprehensible slaughter of one-third of world Jewry. That left a wound that will never quite heal, but that might by now have formed a bearable scab.
But mini-traumas ever since have picked at that scab, rendered the wound ever-raw. The excruciatingly painful list of suicide attacks, the hateful rhetoric, Sderot and the entire aftermath of the withdrawal from Gaza, and now, around the corner, Iran.
And then there have been and are the politicians who whether out of conviction or for purposes of dreadful exploitation pick at the scab and refresh the trauma. For Menachem Begin, Beirut was Berlin and Yasser Arafat was Adolf Hitler; for Benjamin Netanyahu, this is 1938, Tehran is Berlin, Mahmoud Ahmadinejad is Hitler. It was ever thus, it will ever be thus, hence it is here, now: They hate us. “Never again” may be our common oath, but “always, everywhere” is our common belief. The wound will not heal.
And the Palestinians? Betrayed by the corruption of their own leadership, theirs is not only the Nakba of defeat and displacement in 1948 and again in 1967; it is daily humiliation both thoughtless and intended, new bypass highways for the Jewish settlers in their midst, still more than 500 checkpoints and barriers to clog or block their own roads and travel, a security fence that slices and snakes through their fields and their farms and their villages and their cities, reminding, reminding, insulting.
Over Gaza, a sky from which at any moment death may be launched; in the streets of the West Bank, raids and roundups. Ongoing trauma, ongoing disorder. The wounds will not heal.
The Palestinians say: Without justice, there will be no peace. The Israelis say: Without peace, there will be no justice. Both sides are stuck with their wounds and their traumas; they need not only diplomacy, they need therapy. Their empathic capacity has been battered. They cannot place themselves in the shoes of the other, nor can they see themselves as the other sees them.”
John Paul II On The Moral Basis Of Capitalism
Tom Woods cites Pope John Paul II on the moral basis of material prosperity:
“According to John Paul II, “The moral causes of prosperity . . . reside in a constellation of virtues: industriousness, competence, order, honesty, initiative, frugality, thrift, spirit of service, keeping one’s word, daring — in short, love for work well done. No system or social structure can resolve, as if by magic, the problem of poverty outside of these virtues.” These are precisely the virtues that the market economy fosters.
These ideas are not foreign to Catholic tradition: The Late Scholastics of the 16th and 17th centuries favored an economy very largely free of government controls, and John Paul II’s Centesimus Annus (1991) reflected an increasing appreciation for the moral and material benefits of non-coerced economic exchange.
The less heed we pay to slogans and propaganda, and the more we study the question on its merits, the more attractive does the market become.”
Subsidising The Baboons Through Bonds
From Sauvik Chakraverti’s Antidote:
“Mint has a little piece that says one-third of all government expenditure is financed by borrowing, and one-fifth of all expenditure goes towards paying interest. They add that out of every 100 rupees spent, 14 rupees goes towards creating assets, while the rest goes towards salaries – that is, towards consumption. Note that “welfare” and poor relief also have nothing to do with production; they are all matters relating to consumption. Also note that, in India, most of the “consumption” is done by the personnel of The State itself – the politicians and the baboons.
Now, capital consumption is the highway to de-civilization. Progress and civilization has always meant increased saving and investment – that is, the accumulation of capital. This capital, when invested in production, raises the wages of labour and results in an abundance of goods and services for all. This is how, throughout history, civilizations have arisen.
What about those who “invest” in government bonds? Their savings do not go into capital creation or production. They merely finance the consumption activities of The State and they are rewarded with interest that comes from us taxpayers. How can this be called “investment”? It is not. It therefore becomes clear that all government borrowing is nothing but capital consumption – the highway to de-civilization.
I am therefore of the opinion that widespread awareness must be created about the pernicious consequences of putting private savings into government bonds. Investors should be made aware of the fact that they are destroying precious capital in a capital-poor country, and that they would be doing their bit for the nation if they made genuine investments either in the stock market, with the banking system or elsewhere within The Market. Further, public opinion must demand that all these perpetual irredeemable loans be repudiated at once. Those who will lose money have only themselves to blame, for they “invested” their money in an insolvent institution. They did not invest in The Market. So theirs were not “capitalist investments” at all. Throughout history, many foolish people (including the Medicis) have lost fortunes by lending to monarchs. Let this important lesson be learnt once again.”
What China Wants
The Financial Times points out the quirks in the Chinese market that have Western companies racking their brains to stay on top of sales:
“The big spender in China, in years past and even more so today, is the state: private consumption as a percentage of gross domestic product has fallen from 60 per cent in 1968 to 36 per cent last year and could be as low as one-fifth in 2009 as the government ramps up capital investment.
In fact, the Chinese, who already have a world-beating savings rate of nearly 40 per cent of their income, tend to become more frugal when times are tough. As bank deposit rates decline, most of us spend more. The Chinese tend to stash away even greater sums to make up for the lost interest. The reason for this conservatism is the lack of a social safety net in China – citizens have to provide for their own medical care, old age and possible unemployment.
This makes them “penny pinching, ruthless, suspicious shoppers”, says Tom Doctoroff, north Asia director of advertising agency JWT and a writer on Chinese consumer trends. In a recession this behaviour only grows worse. “The downturn has made people keener on finding the cheapest deal,” says Yuval Atsmon, an associate principal in McKinsey’s Shanghai office. Even when they can easily afford it, buying a PC typically involves six visits to a store, and more often than not, customers will wait six months before making their decision after consulting blogs, online comparison sites and – the most important source of information in China – friends and family. Sales of copycat mobile phones, with all the functions of top models but a lower price, have soared from 17 million units in 2006 to 62 million units last year.
Brand consciousness is high, at least in the big cities, but brand loyalty is much lower than in the west. A price cut or good in-store promotion can often sway shoppers. And for cultural reasons, appealing to an individual’s taste or personal comfort typically doesn’t work, Doctoroff points out. A purchase either has to publicly signal status or wealth, like a flashy car does. Or provide a practical benefit: the latest craze in China is chocolate with added calcium, eaten not for pleasure but for the health benefits. The growing appeal of diamonds to women is not based on romance, but as a financial signal of a man’s commitment. Trust is another key issue in a country where so many consumer products are faked. Chinese mothers, for example, will pay 30 per cent more for safe baby milk – and this should favour foreign brands.
But foreign retailers and manufacturers have to cope with vast regional differences in demographics, language and culture that make it hard to plan a single marketing strategy – indeed treating China like a single country is usually a mistake. Natives of Zhejiang on the east coast like “toilet roll as rough as sandpaper”, the former head of Wal-Mart China liked to observe, a penchant thankfully absent elsewhere. Atsmon points out that cities even an hour apart can be entirely different: in southern Shenzhen, more than four-fifths of the population consists of migrant workers, mostly under the age of 35, who speak Mandarin and drink in bars. In nearby Guangzhou, migrants number just over a quarter, more people are older, enjoy watching Cantonese TV and go out to restaurants to drink with family members. Adequately addressing such niches requires an army of local suppliers, costly infrastructure and several layers of wholesalers and intermediaries. Even then, success may remain as elusive as it always has been: “No matter what you may be selling, your business in China should be enormous, if the Chinese who should buy your goods would only do so,” lamented Carl Crow, an advertising executive in Shanghai and author of the original book on how to sell to the Chinese … more than 70 years ago.”
Soros, Paulson etc. Under DOJ Probe For Destabilizing Euro
Yes, indeed. One for the good guys!
“The U.S. Justice Department has launched an investigation into whether heavyweight hedge funds including Soros Fund Management, SAC, Greenlight Capital and Paulson & Co. aggressively shorted the euro in recent weeks to destabilise it, the WSJ reported on Wednesday, citing people familiar with the matter.
According to the paper, the department has asked hedge funds to retain trading records and electronic communications relating to the EU currency which needless to say has come under strong selling pressure as a result of the Greek debt crisis. The euro has lost more than 10% since November. It currently trades at $1.3609….”
More at the Wall Street Journal.
I blogged a few days ago about David Einhorn’s holdings, noting his anti-Euro trade; I also noted that without the raids against Allied and Lehman and without his late-in-the day piling onto gold, Einhorn’s record really isn’t as impressive as all the hype about his abilities would lead you to believe.
Feds Uses Bribery, Class-Warfare To Catch Tax Cheats
From CNN, via Lew Rockwell, the latest Federal incentives for snitching and snooping on your fellow citizen:
“In 2006, the IRS really started cracking down on big time cheaters and introduced a new whistle-blower program, in which informants are paid a minimum of 15% and a maximum of 30% of the amount owed.
But there’s a catch: In order to collect a reward, the taxes, penalties and interest in dispute must add up to at least $2 million. And if the suspected tax evader is an individual, his or her annual gross income must exceed $200,000.
So far, the new incentives have been effective. The IRS has received tips from about 476 informants identifying 1,246 taxpayers in fiscal year 2008, the first full year the program was implemented………
Who snitches?: In this program, the most common informants tend to be dissatisfied middle-ranking employees in big companies, said Tim Gagnon, an academic specialist of accounting at Northeastern University……..
Stephen Whitlock, director of the IRS Whistleblower Office, said that informants have had some connection to the taxpayer but they are not always close acquaintances. They have typically been employees, investors or business associates.
He also said many claims are for substantially more than the $2 million threshold and involve businesses or very wealthy individuals.”
My Comment:
In other words, what you have is the IRS incentivizing class-warfare. By dangling a chunk of cash in front of their noses, the government encourages employees to act against their own economic interest on the basis of a non-existent public good.
Non-existent?
Well, yes. Since the government is using its tax revenues mostly to pay off its own friends, to fatten the banks and financiers, loot the tax-payer, murder foreign nationals, and generally mismanage the country, the public interest (in so far as we can ascertain one) may well be better served by not paying taxes.
Tax cheats, while clearly not heroes from a moral standpoint, are also not the villains they’re often made out to be.
The villains are those who constantly demand higher and higher taxes and destroy the productive capacity of this country in pursuit of hubristic and vain schemes that have done nothing but turned a nation built on free enterprise into one enslaved by political patronage…
Tax snitches, as I said, don’t even serve their own economic self-interest. Sure, they get their one-off reward for snitching. But they’ve effectively ended any chance of their being hired by anyone…unless they manage to evade detection.
Any taxes an employer pays to the government must inevitably be passed on to employees and customers. That’s as ineluctable an economic law as any.
Ergo, pay taxes and the Feds get the money….don’t pay and the economy, the customer, or employees eventually get it.
An employee who plumps for snitching is obviously not only treacherous and disloyal as a human being, he’s also an economic fat-head.
Mexican President Nominated For Citi Director
Robert Wenzel at Economic Policy Journal:
“Citi’s Board of Directors has nominated Ernesto Zedillo as a new non-management director candidate to stand for election at Citi’s annual shareholder meeting on April 20, 2010. He was the President of Mexico from 1994 to 2000 and is now Director of the Yale Center for the Study of Globalization and Professor in the Field of International Economics and Politics at Yale University.
Zedillo (58) worked at Mexico’s Central Bank (Banco de Mexico), serving in various positions, including those of deputy Head of Economic Research and deputy Director. Zedillo is on the boards of Alcoa Inc. and Procter & Gamble Company.
Obviously, despite the fact that it almost blew itself up because of schemes far from traditional banking, Citi continues to take the New World Order approach to banking.
There is nothing wrong with Citi attempting to penetrate into Latin America for business but, putting a former Mexican president on the board smacks of penetration via back door crony government deals versus attempting to serve the serve the consumer in the Latin American countries.
Sure, you have to deal with the crooked governments in these countries, but that’s what you have connected law firms for. They get things done in a very low key efficient manner. Putting Zedillo on the board sends a different signal, that Citi will not only deal with Latino politicians, but that it is part of the crooked club.”
Mark Twain: the War Prayer
Mark Twain’s satirical “War Prayer”:
“O Lord our Father, our young patriots, idols of our hearts, go forth to battle – be Thou near them! With them – in spirit – we also go forth from the sweet peace of our beloved firesides to smite the foe. O Lord our God, help us to tear their soldiers to bloody shreds with our shells; help us to cover their smiling fields with the pale forms of their patriot dead; help us to drown the thunder of the guns with shrieks of their wounded, writhing in pain; help us to lay waste their humble homes with hurricanes of fire; help us to wring the hearts of their unoffending widows with unavailing grief; help us to turn them out roofless with their little children to wander unfriended the wastes of their desolated land in rags and hunger and thirst, sports of the sun flames of summer and the icy winds of winter, broken in spirit, worn with travail, imploring Thee for the refuge of the grave and denied it – for our sakes who adore Thee, Lord, blast their hopes, blight their lives, protract their bitter pilgrimage, make heavy their steps, water their way with tears, stain the white snow with the blood of their wounded feet! We ask it, in the spirit of love, of Him Who is the Source of Love, and Who is the ever-faithful refuge and friend of all that are sore beset and seek His aid with humble and contrite hearts. Amen.”
Manmohan Singh Needs to Emphasize Discipline, Not Blame Democracy
C. Gopinath, writing in The Hindu, blows away the notion that democracy can be blamed for slow decision-making and bureaucratic delays in India:
“It is easier for Dr Manmohan Singh’s to admit that we have bottlenecks in areas of roads, power and ports. Everybody knows that. It is also easy to blame democracy, for that is something we are not going to give up. The unintended message, unfortunately, is that we have to put up with these inefficiencies.
Other observers have chimed in, talking about a democracy tax or a discount due to democracy. The real problem is that we lack the work ethic that should drive us to excellence. Instead, the dominant ethic seems to be that the individual should do whatever it takes to get ahead, and forget about the rest of society. Look at the way we treat garbage (keep the house clean and dump the trash outside), drive on the road violating rules just so we are ahead, and so on.
Statesmen should not be finding excuses for lapses but challenging the people to new heights. The former President, Mr Abdul Kalam, continues to do a great job inspiring people with his vision for a prosperous future.
If Dr Manmohan Singh is looking for a theme on which to build his legacy, he should pick discipline. Nobody seems to be paying attention to it.”
Tom Woods On Pro-War “Progressives”
The always thoughtful Tom Woods unmasks so-called “progressives”:
“Just weeks ago, Think Progress, after a one-sentence summary of my career that (as usual) left out the past 16 years, actually quoted Max Boot against me, as if Boot’s opposition to my work was sufficient to bury me forever. So instead of an antiwar libertarian, these progressives prefer neocon Max Boot, who according to Juan Cole “never saw a war he didn’t love, never saw a conquest he didn’t find exhilarating, never saw an occupied land he didn’t think could be handled.” They approvingly quoted Boot’s dumb-guy propaganda line that “Woods’ sympathy extends not only to slave-owning rebels but also to German militarists” (because, like 99 percent of people who have studied the matter, I think Woodrow Wilson’s conduct during the early years of World War I was based on a double standard between Britain and Germany). This is the same sense in which Ron Paul “sympathizes” with al-Qaeda because he doesn’t buy U.S. war propaganda. (I did reply to Boot, by the way.)
And these are the progressives”
More at Lew Rockwell...
More Agora - Updated 3/6/2010- Stansberry Response/SEC
While googling, I stumbled on some weird material by a blogger Jennifer Lake, who seems to have gotten some facts mixed up about libertarian newsletter publisher, Agora Inc. [I've since had time to read through her archives and many of her entries are overtly anti-semitic]
“Agora Inc. was established as a publishing company in Washington D.C. in 1979 by its founders; William Bonner, Jim Dale Davidson, Porter Stansberry and Lord William Rees-Moog.
(Lila: I don’t believe Stansberry was involved in founding it…he might not even have been born would have been very young at the time; and it’s Rees-Mogg. Moog is the electronic synthesizer. Also, most people who’ve written on the subject don’t mention Rees-Mogg as a founder, except Lyndon Larouche.
Besides Larouche, the person who harps on Rees-Mogg is a minor Internet spammer and web-stalker, Tony Ryals, who apparently lost money in an investment promoted by Davidson and has spent the last five years multiple posting on the company and on anyone connected to it, and as I can testify from personal experience, most of his rants are exaggerations, distortions, disinformation, and “magical” thinking, with some much-mangled facts hidden somewhere, if you have the patience to unearth them)
(Since I wrote this, I’ve found another piece. with this information, by EIR. EIR or Executive Intelligence Review is a Larouche outfit whose macro perspective has generally been regarded as conspiracist, anti-semitic (Christopher Bollyn), and/or paranoid, although many also concede that some of its work is accurate.
I am not linking it here, although I’ve seen it cited by William Engdahl, a credible left-oriented writer, as I’m not sure whether the citation is genuine or a hoax of some kind).
“Notorious for promoting Penny Stock fraud”
(Lila: Not to defend Agora, but it promotes penny-stock and many other investments, not all of which are fraudulent by any means, unless you count any promotion of stocks to be fraudulent. Most penny-stocks in tip-sheets, frankly, are promoted in questionable ways. For that matter, a large proportion of investments of any kind, even in mainstream publications, are promoted quite questionably. Check out the government/real estate industry promotion of the housing bubble, if you disbelieve me).
“and supporting an offshore investment network, Agora has a core membership of world-traveling Libertarians who have connections at the highest levels of government and industry.
Through the illegal practice of naked short-selling, domestic Agorans function as “economic hitmen” and support “sovereign” enterprizes of all descriptions that move national and personal resources overseas to emerging markets.”
(Lila: This seems to be some kind of populist nonsense. Who exactly are “domestic Agorans” and how do they function as “economic hitmen”? I’ve never heard of naked short-selling in conjunction with Agora, but it’s certainly true that penny-stock promoters often work with naked short-sellers, through off-shore havens and exchanges like Vancouver. I know financial reporter Carol Remond has written on this, in relation to some Agora newsletters, and I’ll try to unearth the link. However, I’ve never heard any one at Agora encouraging the moving of “national resources” overseas….unless you include pointing out that employers will go where labor is cheap…..or suggesting diversification abroad)
“The primary operatives of Agora pose as financial experts and advisors, selling information over the internet that targets a variety of consumer interests including “natural health”, real estate, travel and leisure. Agora counts George Soros and known Rothschild agents among its “friends” as well as American “patriots” and “truthtellers”.
(Lila: Never heard that Soros was a friend.
(March 6, 2010): See above for research by EIR/William Engdahl)
Jim Rogers, Steve Forbes, and Marc Faber are.
As a right libertarian outfit, Agora and its original founder/s would likely not be terribly sympathetic to a pro-regulation, pro-one world government, mega currency speculator like Soros. It’s possible that one or other faction within the outfit might sympathize with Soros, but they would likely be more liberal-left in their political leanings than the outfit. I’ve seen Daily Reckoning columnist Rocky Vega mention Soros, not obviously any more sympathetically than he mentions anyone else. Vega cites work experience at McKinsey and at Goldman, and is a relatively late addition to the team. He appears to have joined after my brief stay there)
Now, I’ve been quite critical of Agora (within the limits of what you can say of a place where you once worked and with which you still have a tenuous business association - via my book with Bonner). I’ve noted their strident marketing hype; the SEC conviction of one of their newsletter publishers, Porter Stansberry, in 2007 (a conviction that’s been appealed, and that in all fairness wasn’t a very convincing one…right guy, wrong case, is my opinion on that; you can read why at the website of UK investigative reporter, Brian Deer); the questionable histories of some of their former and current senior people (Davidson, Masterson); and some other bizarre incidents; but in this case, Ms. Lake’s blog seems to have wandered off into fiction.
[Update: You can read Stansberry’s account of what happened at The Daily Reckoning. Here is the SEC’s original case, brought in 2003 and the link to the 2007 conviction.
Update, March 9, 2010: I’m adding a link to the New York Times piece on the SEC case in 2003, which, as Stansberry points out in his defense, treats the case as a First Amendment issue.
That’s not entirely true either, but the case is a weak one, as I blogged before.
On the other hand, it’s also clear from reading some of the marketing literature put out by the company that the hype used by some of the newsletters, the ‘hard sell,’ walks a very fine line and often crosses it. In the case cited by Deer, some language seems fraudulent, even though Deer’s use of the term “pump” (which implies ownership of the stock by the ‘pumper’) is also not warranted by the facts he cites.
Could all this contradictory and exaggerated posting be disinformation? Could be. But why and by whom, is the question.
And, darn. “Rothschild agents”? That sounds exciting. (March 6, 2010: See EIN above, again)
Ms. Lake goes on:
“The Natural News is owned by Truth Publishing International, Ltd, a corporation chartered from Taichung, Taiwan, that also owns the News Target Network and a radio web, viewable here http://www.islaearth.org/community-action.php?page=49 The material from ‘Truth’ is indicative of interlocking relationships with Agora Publishing (or Agora Group) from Baltimore, Md., a large enterprise for international travel, real estate, investment, and health. Subsidiary, Health Sciences Institute (http://hsibaltimore.com) markets products from Northstar Nutritionals (www.northstarnutritionals.com) that has a few items to sell –like ‘Soothanol X2? a DMSO/herbal tincture for pain relief, 1 fluid oz. at $49.95– but this appears to be mostly a business of information. Agora, a name taken from the Greek for ‘marketplace’, is first and foremost about making money with money. The owner/founders of Agora have invested deeply to profit from general and specific disasters like economic collapse and the Swine Flu Pandemic. One associate of Agora founder Bill Bonner, a Mr. Addison Wiggin who heads the multi-million dollar financial research, wrote “The Demise of the Dollar..and Why It’s Even Better for Your Investments” and issues special-reports to its membership like the “Single Best Way to Make Sure You’ll Never Run Out of Money” which appears to be a financial mechanism he calls “The Endless Paycheck Portfolio”.
http://en.wikipedia.org/wiki/Bill_Bonner_(author)
http://www.agora-inc.com/international.htmI’ve a feeling this is just the tip of the iceberg in comprehending the business nature of Agora (see http://webindexnet.wordpress.com ); doubtlessly so in the scope of the debt-for-nature activity. According to the wikipedia, Vilcabamba Ecuador became a haven for international expatriates beginning in the 1960s as a community slowly took root there. By the 1990s, the native Ecuadorans themselves were forced to emigrate for lack of work (or finances), many resettling in Madrid Spain and No. America. Were these engineered real estate turnovers? Vilcabamba is a truly incredible location, poised below the reach of the Podocarpus National Park, one of the most bio-diverse and precious places on earth.
http://en.wikipedia.org/wiki/Vilcabamba,_Ecuador
http://www.planeta.com/planeta/98/0598podocarpus.html
http://www.nature.org/wherewework/southamerica/ecuador/work/art5120.html (site of The Nature Conservancy, $5.42 billion in assets for 2007)Bill Bonner, noted from the wiki link above, wrote in his book “Mobs, Messiahs and Markets” that “mass delusions are part of the human condition”. Capitalizing on them, after all, must be good business.
…and if you’re considering some Vilcabamba real estate, Mike Adams wants you to “get it” first by reading this, “Guiding Principles for People Looking for Vilcabamba, Ecuador Real Estate” http://www.greenlivingnews.com/1057_Vilcabamba_Ecuador.html If you ‘pass go’ here are some of the neighbors you’ll have in Vilcabamba http://newparadigmdigest.com/tag/entrepreneurs/ with their own contact info. Btw, I have no problem with ex-pats, I wish them blessed and happy lives. What interests me are the larger forces at work that make these situations appealing in the first place. It’s in everyone’s purview to have a high-quality life wherever and however they choose to live.
Agora Financial publishes a journal called The Daily Reckoning, editor Addison Wiggin, featuring contributions from ’staff’ such as Lew Rockwell (LewRockwell.com), Gerald Celente (Trends Research) and Dr. Ron Paul (US Congress) http://dailyreckoning.com/cast-of-characters/ This group, and the extended arms of Agora, advocate nation-building investments in developing countries that often include international projects funded by US taxpayers. Non-profit Agora Partnerships USA, for example, uses ‘micro’ venture capital and US tax-paid grants to seed entrepreneurial programs abroad and build ’sustainable economies’ for other countries. Agora Partnerships USA shares an office in Washington DC with USAID, United States Agency for International Development, and it’s TechnoServe program.
http://www.agorapartnerships.org/press/Press/press-releases/about/contact/contact-us
http://www.usaid.gov/sa/usaidsa/technoservepress.pdf
The same building hosts the Economic Research Services of the US Dept of Agriculture, it’s primary policy, financing and forecasting service for domestic and global planning. Agora appears to be well within the loop, so this is about far more than hiring a Health Ranger to gatekeep for Shangri-la.”My Comment:
Where to start, with so many mistakes?
For starters, Lew Rockwell, Gerald Celente, and Ron Paul are not staff writers for Agora.
They are libertarian columnists whose writing Agora frequently runs. The Daily Reckoning publishes material from scores of libertarian writers, sometimes without telling the writer. Drawing conclusions from that is plain silly..
Next up, as far as I can gather, Agora Partnerships has nothing to do with Agora Inc. I looked through their website carefully, and could find nothing to confirm the kind of affiliation that is charged here. The identity of the name seems to be purely coincidental. I could be mistaken, and maybe there is some hidden link. But there’s certainly no evidence for it on Ms. Lake’s blog.
(Correction: In light of the EIR/Engdahl piece, I will be doing a little more leg work on this purported association…)
Agora no doubt profits from many of the ideas or concepts it promotes. It’s been an advocate of Americans diversifying into foreign real estate for years….and it sells foreign real estate (correction: it advertises foreign real estate being sold by its affiliates and associates). But as critical as I am of the outfit, I’ve never come across anything to suggest that its libertarian ideas weren’t sincere….
Does Agora enjoy high-level government/business connections? Yes….but not the kind this blog charges, I think.
“Empire of Debt” (2005, Bonner & Wiggin) and its spin-off “IOUSA” (Wiggin & Incontrera) were promoted by the mainstream media, and specifically, by Peter Peterson and his Concord Coalition.
I’ve blogged about Peterson’s political and financial agenda more than once. The Concord Coalition seems to be a part of any bipartisan initiative about government debt you come across….
And the programs it supports are usually social-welfare busting. I’ve also noted connections between Agora and the CIA, including the employment of former CIA agents, and the appearance of former CIA director William Casey’s Colby’s name on an Agora newsletter. But it’s not unheard of for financial newsletters/ tip-sheets to use former government employees or intelligence officers to ferret out economic tips.
In fact, it stands to reason they would…corporate intelligence and state intelligence often melding seamlessly into each other.
By itself, these aren’t damning facts. And by itself, these facts are irrelevant to any public interest.
There are other facts that certainly need untangling, for those involved, and should there be a public interest, but Ms. Lake’s blog seems so wrapped up in its partisan (”economic hit-men”) obfuscations that it seems to have missed those…
Update (March 8 ) I had time to go through her archive and I found overtly anti-Semitic language about “parasites” and The Protocols of the Elders of Zion in one of her posts, confirming my decision not to link the material cited by Engdahl (with the EIR byline).
(Note: her blog began only in July 2009, around the time I posted a detailed criticism of Agora that I later took down to avoid claims of defamation)
What David Einhorn’s Holding
From Market Folly comes a break down of controversial hedge-fund manager David Einhorn’s portfolio:
Top 15 holdings by percentage of assets reported on his 13F filing
Pfizer (PFE): 7.64%
CareFusion (CFN): 7.32%
Cardinal Health (CAH): 6.86%
Teradata (TDC): 6.56%
URS (URS): 5.78%
Gold Miners ETF (GDX): 5.58%
Wyeth (WYE): 5.35%
Einstein Noah Restaurant (BAGL): 4.97%
EMC (EMC): 4.75%
Aspen Insurance (AHL): 4.22%
Travelers (TRV): 4.04%
Microsoft (MSFT): 3.39%
Everest Re (RE): 3.22%
McDermott (MDR): 3.17%
MI Developments (MIM): 2.93%
Note:This doesn’t include:
1. Cash
2. Short postitions
3. Non-US equitiesOther things to note:
1. Health care holdings, CAH and HNT, both got larger allocations (friend and colleague, Dan Loeb also added HNT to Third Point’s portfolio) and a new position was opened in CFN (CareFusion). Taken together with the fact that the largest holding for both Einhorn and Loeb is PFE (Pfizer), this makes medicine/health their biggest play.
2. Einhorn sold out of energy and upped his stake in MSFT (microsoft) a lot.
3. Besides GDX, Einhorn is also in physical gold, which is one of his largest holdings. It’s invisible in the list above, because it’s not disclosed in 13F filings.
4. Short the rating agencies, credit-sensitive financial institutions and REIT’s with cap rates of 6% and dividend yields of under 5%.
5. Greenlight, like Steve Cohen’s SAC and Soros, is also jumping into the anti-Euro trade, reports silobreaker, citing the Wall Street Journal.
As for Greenlight’s past performance, here’s a chart in percentage terms of Greenlights performance, from Gurufocus:
YR GL(%) S&P Excess Gain
2009 32.1 26.5. 5.6
2008 -17.6 -37 19.4
2007 5.9 5.61 0.3
2006 24.4 15.79 8.6
2005 14.2 4.91 9.3
2004 5.2 12 -6.8
What’s interesting in this chart is Einhorn’s bad showing in 2004 and 2007, years in which most people did well, or at least, stayed out of trouble, since the market was still receiving the benefit of Federal “juicing.” Also notable is 2008, when, had it not been for the controversial and possibly criminal Lehman raid, Einhorn would’ve been even worse off. He would probably have been as much down as the S&P.
Finally, without the johnny-come-lately piling onto gold, last year, 2009, wouldn’t have been a good year for Einhorn, either.
India Changing…
Jayant Bhandari in Liberty Unbound:
“Now, as I travel through India’s smaller towns and villages, I gather many impressions, both of change and of continuity.
I stay in rooms that cost me $2 a day, and purchase all-you-can-eat food for 50 cents. I pay my driver the princely sum of $7 a day. To Westerners, these prices will appear astonishingly low, but inflation of food prices in India is close to 20%. Food is very expensive for regular folks, and speculators are being blamed. I am constantly amazed that there is never any mention of the fact that the Indian government still runs one of the most efficient printing presses in the world — printing money, of course. The only thing that limits inflation is the high rate of real economic growth. Yet the Indian government is getting extremely addicted to increasing expenditures. The government’s fiscal deficit is about 12% of GDP. To me this is like addiction to heroin. What will happen if the growth rate falters?
In an isolated place, a woman sells me a 15-kilogram bag of fruit for a total of 60 cents — fruit worth about $15 in Bhopal. Her companions think she’s won a lottery. These wretched women chase me and beg me to buy some from them. I feel sorry for the little girl who had tears in her eyes. Yet I am repelled by the fact that so many Indians easily grovel and beg. The worst is when well-off people do this. A visit to a government office in India is essential if you want to understand the degradation that the Indian public accepts even today.
I meet the top management of a company constructing a major highway. The highway was deemed uneconomical, so the government and the company agreed that they would use eminent domain to confiscate a lot more land than was necessary from the farmers, at 5% of the market value. The extra land would be converted into condos or commercial space. The poor people would subsidize development. Why should they subsidize the development of the country? This is socialism in practice, although the farmers are branded communists when they rebel. Meanwhile people in the West believe there is something romantic about poverty — a view that is not only hypocritical but pathetically wrong..…”
Business Managers Need To Change Their Framework
The Economic Times notes the poverty of management frameworks rooted in the demands of mass manufacture (Fordism and Taylorism):
“Ramnath Narayanswamy, professor of economics and social science at the Indian Institute of Management (IIM) Bangalore, who teaches a course on spirituality at the workplace, explains: “Management as a discipline quite literally originated in North America against the historical backdrop of Fordism and Taylorism. While its reach is indeed universal, its origins are very North American and in some respects, the discipline is still a prisoner of its historical orientation.
The excessive emphasis on analytical intelligence as opposed to emotional and spiritual intelligence is a case in point. The overwhelming predominance of “reason” and “science” when in fact it’s our daily experience that all life is based on faith and sacrifice, is another. Or the importance accorded to tools and techniques in MBA education at the expense of neglecting character, values and attitude might be yet another.”
There is a realisation that management theory has to be home grown and not just transplanted from the West. Satish Pradhan, executive VP-group HR, Tata Sons, says, “Western thinking has been dedicated to frameworks and metaphors, and the poverty of these frameworks is revealing itself — it’s not intellectually robust.”
In contrast, says Pradhan, thinking in this part of the world isn’t linear, so one cannot simply take ideas and replicate them. By the same token, this makes it difficult for Eastern concepts to be understood or grasped fully by Westerners. “It’s much like how the Americans wondered, ‘The Japanese are hiding something’ when they visited factory shopfloors of Japanese companies to learn the secrets of their success in managing costs and quality in the early ‘80s.”
Ron Paul On Fed Coverup Of Watergate, Saddam Funding
Statement of Congressman Ron Paul
United States House of Representatives
Statement for the Record
February 25, 2010Madame Speaker, I would like to enter into the record the following letter from Professor Robert D. Auerbach, a professor at the LBJ School of Public Affairs at the University of Texas. This letter provides additional information regarding remarks I made at yesterday’s Financial Services Committee Humphrey-Hawkins hearing, remarks which Federal Reserve Chairman Bernanke categorized as “bizarre.”
I thank Congressman Ron Paul for bringing to the public’s attention the Federal Reserve coverup of the source of the Watergate burglars’ source of funding and the defective audit by the Federal Reserve of the bank that transferred $5.5 billion from the U.S. government to Saddam Hussein in the 1980s. Congressman Paul directed these comments to Federal Reserve Chairman Ben Bernanke at the House Financial Services Hearing February 24, 2010. I question Chairman Bernanke’s dismissive response.
BERNANKE: “Well, Congressman, these specific allegations you’ve made I think are absolutely bizarre, and I have absolutely no knowledge of anything remotely like what you just described.”
The evidence Congressman Ron Paul mentioned is well documented in my recent book, Deception and Abuse at the Fed (University of Texas Press: 2008). The head of the Federal Reserve bureaucracy should become familiar with its dismal practices.
First, consider the Fed’s coverup of the source of the $6300 in hundred dollar bills found on the Watergate burglars when they were arrested at approximately 2:30 A.M. on June 17, 1972 after they had broken into the Watergate offices of the Democratic Party. Five days after the break-in, June 22, 1972, at a board of directors’ meeting of officials at the Philadelphia Fed Bank, it was recorded in the minutes [shown on page 23 of my book] that false or misleading information had been provided to a reporter from the Washington Post about the $6,300. Bob Woodward told me he thought he was the Washington Post reporter who had made the phone inquiry. The reporter “had called to verify a rumor that these bills were stolen from this Bank” according to the Philadelphia Fed minutes. The Philadelphia Fed Bank had informed the Board on June 20 that the notes were “shipped from the Reserve Bank to Girard Trust Company in Philadelphia on April 3, 1972.” The Washington Post was incorrectly informed of “thefts but told they involved old bills that were ready for destruction.”
The Federal Reserve under the chairmanship of Author Burns not only kept the Fed from getting entangled in the Watergate coverup, which the Fed’s actions had assisted, it allowed false statements about bills the Fed knew were issued by the Philadelphia Fed Bank to stand uncorrected. Blocking information from the Senate and House Banking Committees [letters shown in my book, Chapter 2] and issuing false information during a perilous government crisis imposed huge costs on the public that had insufficient information to hold the Fed officials accountable for what they had withheld from the Congress. Had the deception been discovered the Fed chairmen following Burns may have been forced to rapidly implement some real transparency to restore the Fed’s credibility. That would have reduced or eliminated many of the lies, deceptions, and corrupt practices that are described in my book.
The second subject brought up by Congressman Ron Paul is the exposure of faulty examinations of the Federal Reserve of a foreign bank in Atlanta, Georgia through which $5.5 billion was sent to Saddam Hussein that a Federal Judge found to be part of United States active support for Iraq in the 1980s.
On November 9, 1993, several federal marshals brought a prisoner, Christopher Drogoul, into my office at the Rayburn House Office Building of the U.S. House of Representatives. The marshals removed the manacles. Drogoul took off his jump suit and changed into a shirt, tie, and business suit. He immediately looked like the manager of the Atlanta agency with domestic headquarters in New York City of Banca Nazionale. Drogoul had come to testify about a “scheme prosecutors said he masterminded that funneled $5.5 billion in loans to Iraq’s Hussein through BNL’s Atlanta operation. Some of the loans allegedly were used to build up Iraq’s military and nuclear arsenals in the years preceding the first Gulf War.”[1]Drogoul’s “‘off book’ BNL-Atlanta funding to Iraq began in 1986 as financing for products under Department of Agriculture programs.”[2] The loans allegedly had been authorized by the U.S. Department of Agriculture. Since Drogoul told the committee he was merely a tool in an ambitious scheme by the United States, Italy, Britain and Germany to secretly arm Iraq in their 1980-88 war, the testimony was politically contentious and unproven. He was sentenced in November 1993 to 37 months in prison and he had already served 20 months awaiting his sentencing hearing.
U.S. District Judge Ernest Tidwell found that the United States had actively supported Iraq in the 1980s by providing it with government-guaranteed loans even though it wasn’t creditworthy. The judge said such policies “clearly facilitated criminal conduct.”[3]
Gonzalez was drawn to Drogoul’s answer about the Fed examiner who had visited his Atlanta operation. Gonzalez said that:
“At the November 9, 1993 Banking Committee hearing I asked Christopher Drogoul, the convicted official of the Banca Nazionale Del Lavoro agency branch in Atlanta, Georgia, how the Federal Reserve Bank examiners could miss billions of dollars of illegal loans, most of which ended up in the hands of Hussein.
Mr. Drogoul stated:
“The task of the Fed [bank examiner] was simply to confirm that the State of Georgia audit revealed no major problems. And thus, their audit of BNL usually consisted of a one or two-day review of the state of Georgia’s preliminary results, followed by a cup of espresso in the manager’s office.”
Gonzalez was appalled at the of lack of effective examination of a little storefront bank and also appalled by the gifts exchanged by officers of the New York Federal Reserve and the regulated banks in New York City where the main U.S. office of BNL was located. A description of what followed is in my book.
The Fed voted in 1995 to destroy the source transcripts of its policy making committee that had been sent to National Archives and Records Administration. Chairman Alan Greenspan had the committee vote on this destruction, telling the members: “I am not going to record these votes because we do not have to. There is no legal requirement.” (p. 104 in my book.) Greenspan thus removed any fingerprints on this act of record destruction. Donald Kohn, who is now Vice Chairman of the Board of Governors at the Federal Reserve, answered some questions I had sent to Chairman Greenspan about this destruction. Kohn replied in a letter on November 1, 2001 to me at the University of Texas that they had destroyed the source records for 1994, 1995 and 1996, they did not believe it to be illegal and there was no plan to end this practice. That is one reason why the Federal Reserve audit supported by Congressman Ron Paul is needed. The Fed must stop destroying its records.
[1] Marcy Gordon, “Banker Imprisoned in BNL Case Tells Story to House Committee,” The Associated Press, November 9, 1993.
[2] U.S. Newswire: “Former Executive of Atlanta Agency of Italian-Owned Bank Pleads Guilty to Conspiracy”, from U.S. Department of Justice, Public Affairs, June 2, 1992.
[3] Peter Mantius, “Drogoul given 37 months Judge in BNL case also blasts actions of U.S. prosecutors,” The Atlanta Journal and Constitution, December 10, 1993, Section A, p. 12.
Robert Auerbach is Professor of Public Affairs at the Lyndon Baines Johnson School of Public Affairs, The University of Texas at Austin. He was an economist with the House of Representatives Financial Services Committee during the tenure of four Federal Reserve Chairmen: Arthur Burns, William Miller, Paul Volcker, and Alan Greenspan. Auerbach also served as an economist in the U.S. Treasury’s Office of Domestic Monetary Affairs during the first year of the Ronald Reagan administration and as a financial economist with the U.S. Federal Reserve System. Auerbach has been a professor of economics at the American University in Washington, D.C. (1976-83), and a professor of economics and finance at the University of California-Riverside (1983-93). He has written numerous articles, and two textbooks in banking and financial markets. He received two Masters degrees in economics, one from the University of Chicago and one from Roosevelt University, where he studied under Abba Lerner, and a Ph.D. in economics from the University of Chicago, where he studied under Milton Friedman.
Why The Establishment Is Attacking Ron Paul
“If the guy is such a sure loser in 2012, why all the attacks? In his quiet way, Paul must have tapped into something. And you can get an idea of that something from what Pat Buchanan wrote the other day about the CPAC poll.
After asking “how do conservatives justify borrowing hundreds of billions yearly from Europe, Japan and the Gulf states — to defend Europe, Japan and the Arab Gulf states?” Buchanan answered his own question by making the case that such policies are not conservative at all.
“Ron Paul’s victory at CPAC may be a sign the prodigal sons of the right are casting off the heresy of neoconservatism and coming home to first principles,” Buchanan concluded.
Buchanan has put his finger on why the unemotional Texas congressman produces such an emotional reaction. The party establishment has to dread the prospect of a candidate who can unite the youthful libertarian conservatives with the Buchananite America-first types. Such a character might win a plurality running against Romney, Huckabee and neocon Barbie doll Sarah Palin.
And Paul might have the most money of them all, thanks to the support of those young voters who actually understand how the internet works. I suspect this is what all the shouting is about, even though the subject of it all never raises his voice.”
Paul Mulshine, NJ Star Ledger, via Lew Rockwell.
Sibel Edmonds On Traitors In High Places
“Sibel Edmonds: The Traitors Among Us,”
by Brad Friedman, Hustler Magazine, March 2010
“Edmonds’s most disturbing allegations, however, may be against high-ranking appointed officials in the Bush Administration. Elaborating on testimony she laid out in her sworn deposition, Edmonds told American Conservative magazine’s Phil Giraldi—a 17-year CIA counterterrorism officer—very specific details of alleged traitorous schemes perpetrated by top State and Defense Department officials. As already noted, these included Douglas Feith, Paul Wolfowitz and, perhaps most notably, former Deputy Undersecretary of State Marc Grossman, the third-highest-ranking official in the Bush State Department.
Edmonds said that Feith and Wolfowitz were involved in plans to break Iraq into U.S. and British protectorates months prior to 9/11. She also claimed that the duo shared information with Grossman on how to blackmail various officials and that Grossman had accepted cash to help procure and sell nuclear weapons technology to Israel and Turkey—and, from there, on to the foreign black market. There the technology would be purchased by the highest bidder, such as Pakistan, Iran, Libya, North Korea or possibly even al-Qaeda.
Additionally, Edmonds claimed that Grossman, the U.S. Ambassador to Turkey before taking his State Department post, had tipped off Turkish diplomats to the true identity of covert CIA operative Valerie Plame Wilson’s front company, Brewster Jennings & Associates, a full three years prior to their being publicly outed by columnist Robert Novak. That in itself, according to George H.W. Bush, would be an act of treason carried out by “the most insidious of traitors.”
Former CIA counterterrorism officer Giraldi summed up Edmonds’s disclosures to me in blunt terms: “This was a massive coordinated espionage effort directed against United States nuclear secrets engineered by foreign agents who successfully corrupted senior government officials and legislators in our Congress. It’s that simple.”
According to a declassified version of a 2005 Department of Justice Inspector General’s report, Sibel Edmonds’s allegations are “credible,” “serious” and “warrant a thorough and careful review by the FBI.”
Perhaps more damningly, the FBI’s John Cole recently confirmed a key element of Edmonds’s claims when he revealed the existence of “the FBI’s decade-long investigation” of the State Department’s Grossman. Edmonds claimed that Grossman was perhaps the top U.S. ringleader for the entire foreign espionage scheme. The probe, Cole added, “ultimately was buried and covered up.”More at Antiwar by Philip Giraldi, on Edmond’s credibility.
Here is an op-ed written by Sibel Edmonds about the role of foreign agents in “hijacking” the country.
I should note that Edmonds herself has been seen by some as playing a sophisticated role of disinformation by overemphasizing Arab involvement in 9-11.
Frankly, I don’t know enough about her to argue if that’s plausible or not. In any case, even if her revelations serve an ulterior purpose, they are bad enough as they stand….
Vandana Shiva on Nishkama Karma
Physicist and environmental activist Vandana Shiva on the practice of Right Attitude, or in Hindu terms, devotion to work without attachment to reward (nishkama karma):
“If you do anything with a narrow mindset, it makes you think according to a calculus of success and failure. Obviously when you are up against powerful interests, there are greater chances of failure than success. But when your work is inspired by a way of life and thinking, that process becomes a reward unto itself. That’s also what the Gita says, that you don’t count the results, you do the right thing according to your context. A spiritual outlook helps you see what the right thing in your context is. What matters is fulfillment, and that cannot be measured by the yardstick of society and its view of you, but by how your soul feels. Then the awards don’t matter, the brickbats don’t matter, the lousy rumors don’t matter. Nothing affects you.”
Mercedes Sosa Sings Solo Le Pido A Dios
Argentine singer Haydee Mercedes Sosa (July 9, 1935 – October 4, 2009) was dubbed “the voice of the voiceless ones” for her socially conscious music. She became popular through out Latin America as a leading exponent of nueva cancion , a type of song that combined Latin American folk music, rock rhythms, and highly politicized lyrics, and was often associated with left-wing politics. Many nuevo cancion artists went into exile in the 1970s and 1980s, when right wing military dictatorships came to power in their countries. Sosa herself went into exile in Spain.
Solo le pido a Dios
Solo le pido a Dios
I only beg God
Que el dolor no me sea indiferente
To let me not be indifferent to pain
Que la reseca muerte no me encuentre
May death never find me indifferent
Vacio y solo sin haber echo lo suficiente
Empty and alone without having done enough
Solo le pido a Dios
I only beg God
Que lo injusto no me sea indiferente
To let me not be indifferent to injustice
Que no me abofeteen la otra mejia
So I don’t turn the other cheek
Despues que una garra me arane esta frente
When a claw has already scratched my face
Chorus:
Solo le pido a Dios
I only beg God
Que la guerra no me sea indiferente
To let me not be indifferent to war
Es un monstro grande y pisa fuerte
It is the great monster that tramples
Toda la pobre inocencia de la gente
The poor innocence of the people
Es un monstro grande y pisa fuerte
Toda la pobre inocencia de la genteSolo le pido a Dios
I only beg God
Que el engano no me sea indiferente
To let me not be indifferent to deceit
Si un traidor puede mas que unos quantos
If one traitor is stronger than the rest of us
Que esos quantos no lo olviden facilmente
May the rest of us not forget too easily
Solo le pido a Dios
I only beg God
Que el futuro no me sea indiferente
To let me not be indifferent to the future
Deshauciado esta el que tiene que marchar
Helpless are those who are forced to leave
A vivir una cultura diferente
And live in a foreign land..Robert Byrd On The Abuses of Majorities
“Minorities have an illustrious past, full of suffering, torture, smear, and even death. Jesus Christ was killed by a majority.”
– Senator William Ezra Jenner of Indiana speaking in opposition to invoking cloture by majority vote on January 4, 1957, cited by Senator Robert Byrd, Senate speech on March 1, 2005, warning against a procedural effort being considered by some senators to shut down minority voices in senate debates.
Random Thoughts On My Return
My thoughts on the last leg of my schlepp back to the US were mixed….how did my 4 month jaunt get stretched to double the length, for starters..
And why does a continent as rich in natural resources as South America have poverty of any kind….and why is customer service such a difficult concept for some cultures….
But let me rewind a bit.
I left you in Salta, where I spent a two days recovering from a 33 hour bus trip from Montevideo sans any food.
That wasn’t provoked by an attack of asceticism. When I got to Buenos Aires, I had no Argentine pesos on me, the banks were closed, the ATM wouldn’t take my card for some reason, and it was pouring too heavily for me to venture out into the city. The restaurants at the station wouldn’t accept Uruguayan pesos or a card. So, between Friday morning in Uruguay and late Monday in Salta I literally ate nothing, except for a soggy white bread sandwich with watery cheese and ham. I didn’t really feel hungry, though, until I got off at Salta….
But more on all that in another post, when I’ll give you my impressions of my trip back..
Today, I’m still catching up and will just leave you with a few random thoughts….
1. The infrastructure and organization of the United States is still unparalleled and impressive in every way, in spite of deterioration and neglect…
2. Americans should get over their love affair with politics. They’re bad at it, it doesn’t suit their style, and it annoys everyone else. America is at her best making things happen. The business of America really is business.
3. I love the English language. With a smattering of Asian and European languages for comparison, I still find everything I want in English.
4. You can lead a rich, well informed, and not uncomfortable life without a car or a bicycle, without air conditioning, a fan, internet, a phone, an I-Pod, a blackberry, wireless, a TV, or even a radio.
5. If you’re willing to drink tap water and eat stall food, you can eat every meal out on 2 dollars a day in Peru, and have meat/fish at least once a day. If you cooked at home, you could eat well for under 15 dollars a month.
6. America has been a unique experiment in history, made possible because several favorable elements lined up in one spot on the globe. One of those elements - in fact, one of the cardinal ones - was the puritan work ethic. What it does it say that our intelligentsia, by and large, despises it.
7. A man can be free with just economic freedom. Even if he cannot act politically, or speak his thoughts, he can think them. If he can think his own thoughts, he is still his own man. But a man without economic freedom can think only his master’s thoughts….and his master will be the state.
8. It isn’t the politicians we need to worry about. They have to stand election. It isn’t even the financiers. They have to reckon with bankruptcy.
But the media faces neither elections nor a balance-sheet. There you have the tyrant.
Ramzy Baroud On the Media Protection of Israel
“As someone who has been grilled and challenged in the media for making such outrageous statements as “Israel must learn to respect international human rights,” I cannot take seriously the media’s claims to “objectivity”. If this were the norm, no Israeli hasbara campaign would have even dented public perceptions of the criminal war. No unfeeling Israeli Army spokesperson could possibly explain the logic of the wanton destruction of Gaza, as hungry civilians were chased in an open-air prison with nowhere to escape and no one to come to their rescue.
Israeli officials continue to congratulate themselves on a job well done, and must be preparing yet another marvelous hasbara campaign to justify the killings that are yet to follow. However, there are some things that are becoming increasingly obvious, at least to the rest of us. First, the secret of Israeli “success”, if any, was not its own doing, but rather stemmed from the media’s decision, made years ago, to protect Israel’s image. Second, despite the fanfare and self-congratulating commentary, Israel has now largely lost the media war, and the tide since the Gaza war has been turning, thanks to the underfunded, but solid and increasingly determined efforts of independent media groups, intellectuals, citizen journalists, civil society activists, artists, poets, bloggers, ordinary people and those in the media who possess the courage to challenge Israeli hasbara and its devotees.”
Ramzy Baroud in Counterpunch
Lost In the Andes..
Well, no. I’m not really lost. But I’m in the Andes alright. And my computer cable is lost, although lost isn’t the right word. Swiped is. As in, swiped by some blighter who grabbed it out from me while I was, of all things, trying to check my stuff into the left luggage. May it blow up his laptop and may his descendants be Internet addicts who run up his DSL bill and send him to the poor house…
So that is why I’ve been remiss in my blogging. And will continue to be a while, until this is all sorted out.
Which may not be for a bit, because right now the main puzzle I am trying to work out is how to bus it from the Andes into Colombia in the safest and cheapest way possible. I want to avoid visas, but it seems I cannot. Apparently, from Salta, which is where I am now, you have to take a bus that either gets you to San Pedro de Atacama in Chile, or across the Bolivian border. One route I am looking at is Salta to Arica and from Arica to Lima.
Does this work out fiendishly cheaper than a bargain flight from Buenos Aires? Probably not. But then the Argentines have gone and introduced a visa charge of some kind, effective from January. Something like a hundred dollars or so. It’s a reciprocity fee (that means it’s tit for our government’s tat - and who can blame them) but it means I’m trying to avoid airports, which is where they levy such things.
So far the past several days, it’s been buses and terminals…33 hours of them, and day long layovers. And on top of that I’ve been a little ill…and developed some kind of rash or allergy that makes my scalp crawl literally. I’ll never use the phrase casually again. And no, it was not cooties or dandruff, it was my new Argentine shampoo that did it…I have a sensitive skin and new anything on it is always a bit of a risk.
Which is all much more than you should know.
But on the up side the scenery here is spectacular.
I fed the ducks on the pond on San Martin Avenue right outside the bus terminal, had myself three empanadas with goat cheese - which felt like manna from heaven after two and half days without food..
The hills are verdant and rise high. And in the summers, the temperatures reach up to 50 degrees celsius, I’m told.
Which is what the temperatures are in my home town in India. There the hills are much lower and have been denuded over centuries. And of course, the town is overpopulated, noisy and polluted. But in a strange way, in its bare bones, it has some similarities…
The food in India is, of course, way, way better.
After 7 months of the rather stodgy South American diet, I am positively ravenous for rasam, curry, pappadams, pilafs…
I shouldn’t have started…..
Financiers Used 9-11 Diversion of FBI to Loot American Middle-Class
Great interview at Forbes, between Steve Forbes and Senator Ted Kaufman on the capital markets, naked short selling, the uptick rule, sponsored access, HFT (high frequency trading) and digitalization, dark pools, and fraud…
“Forbes: Finally, Fraud Enforcement Recovery Act.
Kaufman: Yeah, yeah.
Forbes: You’re proud of it.Kaufman: Yeah, I am.
Forbes: What it does, and what will it do?
Kaufman: OK, here’s what it did. After 9/11, we moved a lot of FBI agents over to cover terrorism, which we should have done. But we left only like 250 FBI agents in the country to cover financial fraud. We did more financial fraud cases in 2001 than we did in 2007, can you believe that? So, what we did with this financial and regulatory forum, with Pat Leahy, who is chairman of judiciary committee and Chuck Grassley, an Iowa Republican. It’s a bipartisan bill and we got a bill passed to give us more FBI agents, give us more prosecutors and to go after these folks. And so that’s basic what we passed, and we’re getting organized. Had a really good hearing of the judiciary committee. Rob Khuzami at the Securities Exchange Commission, Lanny Breuer’s head of the criminal division, Kevin [Perkins] from the FBI financial thing.
And we’re really, we’re going after this thing. And I know you agree with me. You know, if you, the folks that committed crimes while this thing was going on, we can all argue about what caused it or not, anybody who took advantage of this situation and lined their own pocket for it should go jail.”
The Corporate Media: Suffering From Truth Emergency
We have an elite that has a stranglehold on what gets heard through its grip on professional societies and the major print and TV news. Prizes, media attention, peer approval go to very few media outlets. It’s well- known that only reporters and columnists at a handful of papers get serious attention. That’s a truly dangerous state of affairs and we’re suffering the fall-out from it. What makes it even worse is that news itself is more and more swept aside by trashy, sensation-seeking reporting, which leaves the audience with misinformation or simply a great black hole of ignorance.
Mickey Huff and Peter Phillips analyze the “truth emergency” ravaging the corporate media in the West (and to a lesser degree, everywhere):
“Truth Emergency: Keeping the Facts at Bay
The truth comes as conqueror only because we have lost the art of receiving it as guest.
– Rabindranath TagoreWhat are some of these truths, that not knowing them creates a literal state of emergency for human society? Here are two of many possible examples. A 2008 report from The World Bank admitted that in 2005, over three billion people lived on less than $2.50 a day and about forty-four percent of these people survive on less than $1.25. Complete and total wretchedness can be the only description for the circumstances faced by so many, especially those in urban areas of so-called developing nations. Simple items Americans take for granted like phone calls, nutritious food, vacations, television, dental care, and inoculations are beyond the possible for billions of people.6
In another ignored but related story, Starvation.net logged the increasing impacts of world hunger and starvation. Over 30,000 people a day (eighty-five percent of children under five) die of malnutrition, curable diseases, and starvation. The number of deaths has exceeded three hundred million people over the past forty years. These stories should be alarming headlines, certainly more significant than celebrity tripe and tabloid hype.7
Continuing on the theme of human poverty and its ramifications, farmers around the world grow more than enough food to feed the entire world adequately. Global grain production yielded a record 2.3 billion tons in 2007, up four percent from the year before, yet, billions of people go hungry every day. The website Grain.org describes the core reasons for continuing hunger in a recent article “Making a Killing from Hunger.” It turns out that while farmers grow enough food to feed the world, commodity speculators and huge grain traders like Cargill control the global food prices and distribution. Starvation is profitable for corporations when demands for food push the prices up. Cargill announced that profits for commodity trading for the first quarter of 2008 were eighty-six percent above 2007. World food prices grew twenty-two percent from June 2007 to June 2008 and a significant portion of the increase was propelled by the $175 billion invested in commodity futures that speculate on price instead of seeking to feed the hungry. This results in erratic food price spirals, both up and down, with food insecurity remaining widespread.“
My Comment:
Some of this commentary of course paints speculation with too broad a brush. Futures markets can, and do, provide efficient allocation of resources if they function as they should. The problem is not the futures market but the corruption of the market and the constant meddling in it by the state, which blunts the normal checks that the market would otherwise provide.
And again that goes back to public culture and professional standards that have become debased. The deeper question is how they became debased.
Which, of course, leads us to the government’s manipulation of the interest rate. That is where the problem lies.
But meanwhile, where is the media in all this? Providing the context so people can understand what’s going on?
No. It’s rooting around in John Edward’s trash can……
Soros: Gold In Bubble; But Keep Stimulus Going…..
Always nice to see people talk out of both sides of their mouth.
Here is currency speculator George Soros (ex of legendary hedge-fund Quantum) at the World Economic Forum at Davos:
“When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.”
So far so good. Mis-price money (cheap interest rates) and people don’t want to keep their savings in it. They want it in something that isn’t subject to mis-pricing (so they hope) - hence gold.
But then Soros shows how disingenuous he’s being by adding this:
“I think that since the adjustment process to the recession is incomplete, there is a need for additional stimulus. Some countries, like the US and European countries, have plenty of room to increase their deficits. The political resistance to doing so increases the chances of a double dip in the economy in 2011 and after that.”
That is, he’s suggesting running more deficits and keeping the money spigot going, just the thing that’s caused the gold price to rise.
So how do we understand this?
Gold is due for a technical correction, but it’s also probably responding to deflation in the general economy. It’s not going down that fast, because a lot of people are also buying it speculatively.
That’s the tug of war.
Meanwhile, who know what Soros’ holdings are and who knows what his motivations are in making such contradictory statements.
But anyone who takes these sorts of pronouncements as any kind of lead for their own investments/speculations, should be prepared to part fairly soon from their money.
Did Bethany McLean Even Break The Enron Story?
n “Enronathon,” Seth Mnookin of The Wall Street Journal suggests Bethany McLean wasn’t quite the first person to break the story of Enron…and that she had a good bit of unacknowledged help:
“If journalism were in the Olympics, the Enron story might well be pairs figure skating. Bethany McLean, the young Fortune writer who first wrote about Enron’s shady finances a year ago, has, of course, already been awarded the gold.
And with that have come the requisite endorsements: In the past two months, she was hired as a consultant by NBC News and shared in a $1.4 million deal to co-author a book on the scandal. But another team is also vying for top honors — amid complaints about shoddy judging.
Reporters and editors at the Wall Street Journal believe their work has been unjustly ignored, with some wondering whether Pulitzer rivals like the Washington Post and the New York Times have gone out of their way to praise McLean.
Enron did not collapse under its own weight,” says Jonathan Friedland, the Journal editor who’s been in charge of much of the paper’s Enron coverage. “Without our reporting, I don’t think any of this would have happened.”
In response, McLean’s former editor at Fortune and current Time Inc. editorial director John Huey says, “Bethany was the first journalist in a widely respected national publication to suggest that the emperor at Enron had no clothes.” (Not that her own publication took much note: Fortune had to airbrush out Kenneth Lay from a November SMARTEST PEOPLE WE KNOW cover photo.) Let’s recap: In September 2000, Jonathan Weil wrote a long story for the now-defunct Texas edition of the Journal about odd accounting at various Texas-based energy traders; it included four paragraphs on Enron.
James Chanos, a well-known short-seller who was one of the first to start unloading Enron stock, says he got interested in the company after reading Weil’s piece.
Almost six months later, in March 2001, the then 30-year-old McLean (who Times columnist Maureen Dowd has suggested will be played by Alicia Silverstone in the inevitable movie) wrote her little-noticed 2,400-word story, “Is Enron Overpriced?”
Then, in October, the Journal ran a three-day series by Rebecca Smith and John Emshwiller detailing Enron’s unorthodox partnerships. Their articles are seen by many on Wall Street as ultimately sinking the company. Weil’s partisans think he should get credit for crossing the finish line first (an item, “Credit Due,” ran in “Page Six” recently).
But even Chanos says that “Bethany’s piece was the first one to raise really specific questions.”
Most of the Journal’s brain trust, though, are plugging Smith and Emshwiller, who, of course, wrote their stories in 2001 and are thus eligible for this year’s Pulitzers. “The Fortune story basically said this is a company that nobody understands,” says Journal deputy managing editor Daniel Hertzberg. “It didn’t show what was wrong with the company. It took Becky and John to do that.” That’s the competition.
Now for the judging. In January, Howard Kurtz, the Washington Post’s media writer, highlighted McLean as the first journalist to ask questions about Enron. Ten days later, the Times‘ Felicity Barringer wrote her profile of “the financial reporter everyone loves to lionize.” While McLean was being anointed as a journalistic sex symbol in a story hitherto dominated by a balding Kenneth Lay, folks at the Journal felt they were being robbed:
“People are trying to queer the Pulitzer pitch for the Journal,” says one editor there. That’s sour grapes, counters Kurtz: “In this case, a 31-year-old reporter beat them and the rest of the world by a considerable margin.”
In a bit of circular logic endemic to media reporters, Kurtz adds, “I must have been onto something, since after my piece appeared, she was profiled in the Times, given a contract by NBC, and offered a book deal.” As for McLean, she seems slightly embarrassed by all the attention. “I’ve told people I’ve gotten too much credit,” she says. “I did raise alarm bells, but I didn’t know the half of it.” “Read more: Enronathon http://nymag.com/nymetro/news/media/features/5756/#ixzz0dvvQZvUI
My Comment:
Please note also that the book was co-authored with Peter Elkind, who isn’t attributed in many of the stories.
Not that I’m all that sympathetic to the Wall Street Journal on the Enron story, since they don’t give credit to the alternative press either, and what goes around comes around. (My own experiences of plagiarism from articles and books can be found at the tab, ABOUT - half-way down the page).
If liberal columnists steal without attribution even from liberal bloggers, can you imagine the cone of silence that descends when the victim isn’t liberal? Libertarians and conservatives get stripped clean by the vultures of the “free” (of all ethics) press.
With them, it’s never about public welfare or the good of the nation, even though that’s the standard that they like to foist on other people. Even with the global economy melting down under their noses, they’re jealous of sharing the information that activists, bloggers, and ordinary citizens give out generously for the common good.
(Again, there are honorable exceptions).
In short, they make up credit - just like the Federal Reserve.
Or they steal it - like their banker friends.
Or they collude with each other to “take-down” anyone not part of their game - just like their hedge-fund allies.
And no matter what, they always cover for each other.
Notice how other people’s personal lives are fair game for stalking, extortion, and exposes, but never theirs, as this piece on Maria Bartiromo suggests.
(Ms. McLean figures in that piece too. In fact, a brief google tells us that McLean´s had plagiarism problems and conflicts of interest more than a couple of times).
Item One. Here’s an earlier complaint about Fortune magazine plagiarism. A Fortune writer apparently used material from interviews and articles by an outfit called Annex Research, without attributing or acknowledging it. An email to Fortune got no response, either. The Fortune writer? Bethany McLean…
Item Two: McLean at it again, swiping material from the Orange County Register Weekly
Item Three: Libertarian economist, Bill Anderson, in a piece called “The Most Dishonest ´Journalists´ In the Room,” describes how McLean was having a romantic relationship with the lead prosecutor in the Enron trial, Sean Berkowitz, before the sentencing, while she was covering the trial and getting out the government´s side of the story. Omitted in that story as well was the disturbing fact that the prosecutor had suborned perjury in order to get a full conviction of Jeffrey Skilling.
And that´s besides Item Four….
That fetching stock-manipulation thing she had going with hedge buddies Marc Cohodes and Jim Chanos.
No wonder none of them can get the story right.
And no wonder they still won’t get it straight, not until after activists, or bloggers, or less-known writers at their own outfits or elsewhere do the hard work. Then they’ll slide in to take the credit.
Nice work.
Just as cushy and exploitative as anything on Wall Street, in its way.
Business men and real capitalists do the hard work of producing. Then the faux capitalist money-men and their shills in government rush in to cream the money off and cover themselves with glory via their mouthpieces in the shill media.
No wonder the media doesn’t understand capitalism. No wonder they love the crony capitalist bordello they call home. It’s the only one they know, the poor things.
[Again, they really ARE a minority of journalists, just a powerful minority. There are hundreds of honorable hard-working journalists who write their own stories rather than steal them off the net, whose names never get into headlines, and who wouldn't be caught dead behaving like this].
And don’t miss the other telling details:
Enron’s Ken Lay was a Republican.
Goldman Sachs is a Democrat cash-cow, for the most part.
Jim Chanos, hedge-fund master mind, used to work at Deutsch Bank.
And Bethany McLean was once a Goldman Sachs banker….. (Maybe that explains her kid-glove treatment of Hank at Vanity Fair).….
….And her equally interesting white-washing of Spyro Contogouris, who colluded with hedge funds to attack Prem Watsa’s Fairfax Financial.
Honestly. Rielle Hunter has nothing on any of these gold-diggers.
US Support For White Phosphorous In Gaza
Eileen Fleming in Op-Ed News:
“The Ileana Ros-Lehtinen/AIPAC driven House Resolution 867 boiled down to a call for censorship of the Goldstone Report without “any endorsement or further consideration” from the Obama Administration, rife with inaccuracies and undermines support for the universality of human rights.
“It is no surprise that Congress is trying to cover their culpable asses for during the 23 days of Israeli assault on Gaza, “Washington provided F-16 fighter planes, Apache helicopters, tactical missiles, and a wide array of munitions, including white phosphorus and DIME. The weapons required for the Israeli assault were decided upon in June 2008, and the transfer of 1,000 bunker-buster GPS-guided Small Diameter Guided Bomb Units 39 (GBU-39) were approved by Congress in September. The GBU 39 bombs were delivered to Israel in November (prior to any claims of Hamas cease fire violation!) for use in the initial air raids on Gaza. [1]
One of the few who have been to Gaza, Congressman Baird D-WA, wrote, “H.Res. 867 is very serious business. If, as Goldstone asserts and the evidence I have seen supports, there were in fact gross violations of international law and human rights on all sides, we cannot in good conscience support H.Res. 867.
“This is about much more than just another imposed political litmus test that we are all too often asked to perform. This is about whether we as individuals and this Congress as an institution find it acceptable to drop white phosphorous on civilian targets, to rocket civilian communities, to destroy hospitals and schools, to use civilians as human shields, and to deliberately destroy nonmilitary factories, industries and basic water, electrical and sanitation infrastructure. This is about whether it is acceptable to restrict the movement, opportunities and hopes of more than a million people every single day.
“At the end of the day, this is also about our own domestic security. If we are seen internationally as condoning violations of human rights and international law, if our money and our weaponry play a leading role in those violations, and if we reflexively obstruct the findings of someone with the credentials, history and integrity of Justice Goldstone, it can only diminish our international standing and our own security.“-Rep. Brian Baird (D) represents Washington’s 3rd district.” [2]
Policing Wall Street…
From Black Star News:
“In the 1980s there was one great stock fraud, which captured the imagination of the American public. That stock fraud involved a chain of electronics stores, which went by the name of “Crazy Eddie.” These stores were founded by Eddie Antar (“Crazy Eddie”) of Brooklyn. “Crazy Eddie” used radio advertising to hype his stores. In the end the retail chain of “Crazy Eddie” went bankrupt; a $300 million fraud.
At the center of this fraud was Sam E. Antar, a cousin of “Crazy Eddie” Antar and the Chief Financial Officer of the “Crazy Eddie” retail chain. Currently Sam E. Antar has publicly stated that he has reformed and is now lecturing, without charge, on the “dangers” of crime. It is strange that Sam E. can afford this largesse because he filed for bankruptcy several years ago. He claims to be supported by the real estate interests of his wife’s family.
Recently he was the focus of an article, “Crazy like a fox,” by Aaron Elstein, which appeared in the October 4, 2009 issue of Crain’s New York Business. Once a felon, always a felon. Yet Elstein referred to Sam Antar as “a former felon.” That alone shows his bias and makes the reader believe that rather than an article the piece is meant to rehabilitate Antar. A felon is someone convicted of a felony. There is no such thing as a former felon.
Elstein also reported: “Mr. Antar admits working for a short-seller before. He did research for Barry Minkow, an investor who served prison time in the 1990s for running a fraudulent carpet cleaning service.” This is like saying “The titanic ran into an ice cube.” There are several understatements in the “article.”
Sam Antar not only worked for Barry Minkow but contributed $250,000 to Minkow’s Fraud Discovery Unit, which supposedly ferrets out false information in filings by publicly listed companies. Antar claims that this $250,000 was his wife’s money. Antar’s wife must be the most generous woman in the world- doling out $250,000 as a gift to her husband’s friend.
Here’s what happened: Minkow finds false information in SEC filings. Minkow then sells the stock short, in hopes that the stock price declines. Minkow then releases his findings. Minkow then buys back the stock after the price has declined. By that very fact alone, Minkow is not an “investor.” Minkow is a short seller.
As the reader can readily determine someone is making money from this arrangement. What’s not stated in the article is that Minkow did not just run “a fraudulent carpet cleaning service.” Minkow’s carpet cleaning business was called ZZZZ Best, a stock fraud that defrauded the American public of hundreds of millions of dollars. Minkow served seven years in federal prison for fraud among other charges.
The article is a “white wash,” a “fix.” Minkow owes the government approximately $16 million and his salary is garnished to pay the amount owed. That is why the payment could not be made out personally to Minkow but to the Fraud Discovery Unit- the money would have been seized.
During his incarceration Minkow converted to Christianity and studied for a Divinity Degree. Currently Minkow is a pastor of a Church. I find it rather amusing when convicted felons turn to God. It has been my experience that once a stock fraud artist- always a stock fraud artist. The money is too good and too easy. That is why the members of Aish Kodesh in Long Island participated in the stock frauds of Maier Lehmann.
Sam E. Antar is a fraudster; as is Barry Minkow.
Both have now found God. Perhaps they have monetarized God.”Manfredonia, a trader and whistleblower on Wall Street in the 1980s, is now on a campaign to expose corruption on the Street. Please e-mail him tips to Edward@blackstarnews.com
Soviet Spy On Post-Cold War Russian Spying
Soviet agent turned American double agent, Sergei Tretyakov, is interviewed about post Cold War espionage on the Leonard Lopate Show.
Climategate: Indian Environment Minister Says IPCC Wrong On Glaciers Melting
There are some interesting developments on the climate-gate frontier.
Apparently, the Himalayan glaciers aren’t melting, after all.
Or at least, not as fast as the IPCC (the Intergovernment Panel on Climate Change , the UN body tasked with climate change) thinks they should. Read the rest of this entry »
Bernard Stiegler On Justice And Shame
French philosopher Bernard Stiegler writes about the need to have an ideal that informs the competition of the market place. This ideal would prevent competition and efficiency from degenerating into what he calls shamelessness, a state he associates both with globalization and with the suppression of individuation in modern societies:
“Imitation cannot be the first or unique principle of a new political and economic community. It is precisely to the degree that relations between countries allied in the same political community are not reduced to economic exchanges and competition, but instead presuppose a common interest above particular interests, that one can distinguish between a political union and a simple league of economic interests like the Hanseatic League or the Alena today, as well as countless other zones of special economic exchanges.
Lew Rockwell On The Climatista Totalitarians
Lew Rockwell in The Misesean Vision:
“Let me give another example of the banality of evil. Several decades ago, some crackpots had the idea that mankind’s use of fossil fuels had a warming effect on the weather. Environmentalists were pretty fired up by the notion. So were many politicians. Economists were largely tongue-tied because they had long ago conceded that there are some public goods that the market can’t handle; surely the weather is one of them.
“Enough years go by and what do you have? Politicians from all over the world, every last one of them a huckster of some sort only pretending to represent their nations, gathering in a posh resort in Europe to tax the world and plan its weather down to precise temperatures half a century from now.
“In the entire history of mankind, there has not been a more preposterous spectacle than this!
“I don’t know if it is tragedy or farce that the meeting on global warming came to an end with the politicians racing home to deal with snowstorms and record cold temperatures.”
Maya Angelou On What People Remember
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
— Marketing saw, quoted by Maya Angelou
My Comment:
This quote led me to think of the way in which political debates these days have become entirely devoid of emotional intelligence. I’m convinced that the way we debate things is at least as important as what we debate. Maybe even more important.
There’s something fundamentally wrong with the media when it humiliates public figures, either directly and anonymously on the internet, or indirectly though misrepresentation and innuendo in print. There’s nothing funny, liberated, or “free speech” about any of it. It’s an abuse of speech… a form of violence.
Now if you cuss out someone who’s provoking and attacking you directly, that’s one thing. Turn about is fair play.
But using sexual humiliation as a tool to demonize political candidates (Sarah Palin) or feeding public voyeurism about prominent figures with no political relevance (David Letterman, John Edwards, Tiger Woods) is morally wrong and socially dangerous. It feeds a constant cycle of partisan retaliation that drives everyone but the most insanely ambitious out of politics.
Then, of course, the media turns around and complains without irony about how insanely ambitious politicians are.
Reporters are professionals. They have standards to adhere to. It’s not their job to simply supply a demand. It’s one thing to follow stories that interest people (within certain boundaries of what’s relevant to public discourse). That’s fair enough. But reporters can’t just cave into whatever it is they think people want to talk about.
You could, after all, argue that people also like watching snuff movies. Does that mean the media feeds that appetite too?
Demand doesn’t just come into being. It’s also created. And that’s not a one-way thing. There’s a feedback loop. Demand feeds supply, which feeds demand….. There’s an addictive element to the whole thing.
Which means writers can’t just give up their own moral freedom to feed a demand for immoral things. They have to make a conscious choice to go against what’s in their (or their publisher’s) economic interest and, instead, do what’s right. Admittedly, it’s hard.
As for the so-called hypocrisy of politicians, politicians and entertainers aren’t meant to be moral exemplars, so the question really shouldn’t arise at all.
Since the public expects a certain image, politicians have to conform if they want to get elected. Wanting that image to reflect reality strikes me as an example of the foolishness of the public, not of the hypocrisy of politicians.
Public figures are more and more simply the victims of mob mentality. From that perspective, John Edwards did quite right to deny the scandal until the end. It’s no business of the mob’s to know everything about a politician’s marriage and demand a standard from him that the vast majority of people don’t hold to.
Now, Edward’s team members are a different issue. They sacrificed money and time and they might naturally feel betrayed. That’s a different matter. Perhaps they should have researched him a bit more before latching onto him. That they didn’t suggests they have a problem - mindless hero worship.
People can have extraordinary talents but it doesn’t follow they’re perfect human beings, and there’s something deeply troubling about the urge to demand perfection from mere human beings…. and then attack them when they can’t supply it.
If I were Edwards, I would have banged the door on reporters who hounded me, a long time back. I would have turned the tables and started asking them a few questions about their private lives.
I suppose that’s why I have a degree of sympathy for people who’ve played the game back at reporters, like CEO Mark Cuban..and lately, Patrick Byrne.
Cuban has used Web 2.0 to his advantage against regulators as well.
A New York Times article in 2007 described how John Mack Mackey of Whole Foods and even disgraced and convicted financier Conrad Black of Hollinger International posted anonymously on message boards to counter negative posts about their companies. The articles noted that they ran the risk of violating securities laws, especially if they disclosed company business in their posts.
Perhaps that’s where the problem lies. We have laws to stop CEO’s of companies from defending themselves against attacks, but none for the people who do the attacking, even if they have a financial motive for it and even if their attacks are founded on semi-truths and lies indistinguishable by casual or lay readers.
Mack Mackey used the handle rahodeb, an acronym of Deborah, his wife’s name, and he even commented on how cute he looked with a new hair-cut. Byrne, on the other hand, has used a pseudonym Hannibal (the ruler of Carthage, not the star of “Silence of the Lambs”), but always signs his name underneath. Both took up the pen to counter attacks on their companies by anonymous internet posters.
It seems to have become a real problem.
In 2008 Apple CEO Steve Jobs finally had enough of the rumor mongering about his health and called Joe Nocera of the New York Times a juicy epithet I will chastely refrain from repeating.
[Since I've begun contributing to Deep Capture and enjoy a degree of bloggeraderie with them, I'm refraining from commenting directly on Byrne's running battle with the media, about which I've written before. I will just admit to being on their side versus Goldman and the short-raiders. I think they tell it like it is. But any obscene rants at reporters' expense don't earn brownie points with me. And I maintain a neutral rating on Overstock, since I just don't know enough about that end of things].
Either journalists act like a responsible press, or they are paparazzi, in which case they should expect to be hounded and harassed in turn. If reporters want access to the highest levels of business and government, if they want to report on subjects that are socially and politically important, then they should show some respect for their jobs, qualify themselves, adhere to professional standards of behavior, and avoid tormenting other human beings just to make their names.
Remember these are the same reporters who failed to report accurately or in time on one of the biggest stories in a hundred years, and why was that? Because (with honorable exceptions) they were either too comfortable with Wall Street, too lazy to do the research, too ignorant to know where to look, too provincial to read the people who could tell them, and too venal to go against their interests…. or all of the above..
This kind of public exposure we subject people to is not a one-time business. There is a record of the Edwards saga for ever on the net, visible to the whole globe….every little painful detail. What kind of sensitivity to a sick woman does that show, just to take one angle. Or consider their children..
Isn’t it a kind of torture?
And doesn’t it make us, as it makes any kind of torturer, bestial?
Meanwhile, the victims never forget…Army Suicide Level Rises to “Epidemic Levels”
Jason Ditz at Antiwar via Christian Peacenik:
“Calling 2009 a “painful year,” the US Army announced today that it faced a record number of suicides among Army personnel, with 160 active-duty soldiers taking their own lives.”
Christian Peacenik goes on to comment:
“This surpassed the previous record of 140 in 2008, and the previous record before that was 115 in 2007. The Army has been keeping track of suicides since 1980, with the level suddenly rising to epidemic levels in recent years.”
In an attempt to cope, many soldiers turn to drugs and alcohol, and many others, as Friday’s AP story reminds us, end up killing themselves. Needless to say, the effects of this psychological destruction remain even after one leaves the service. As Dahr Jamail points out, “A 2008 court case in California revealed a Department of Veterans Affairs (VA) email that revealed 1,000 veterans who are receiving care from the VA are attempting suicide every single month, and 18 veterans kill themselves daily.”
But again, the American idiocracy, with all its meaningless symbols and gestures, doesn’t want to hear any of this. Which is why we need to bring this to the idiocracy’s attention and explain why it’s yet another reason to bring our troops home.”
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