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For Economic Truth Turn To Michael Hudson
For Economic Truth Turn To Michael Hudson
Readers ask me how they can learn economics, what books to read, what university economics departments to trust. I receive so many requests that it is impossible to reply individually. Here is my answer.
There is only one way to learn economics, and that is to read Michael Hudson’s books. It is not an easy task. You will need a glossary of terms. In some of Hudson’s books, if memory serves, he provides a glossary, and his recent book “J Is for Junk Economics” defines the classical economic terms that he uses. You will also need patience, because Hudson sometimes forgets in his explanations that the rest of us don’t know what he knows.
The economics taught today is known as neoliberal. This economics differs fundamentally from classical economics that Hudson represents. For example, classical economics stresses taxing economic rent instead of labor and real investment, while neo-liberal economics does the opposite.
An economic rent is unearned income that accrues to an owner from an increase in value that he did nothing to produce. For example, a new road is built at public expense that opens land to development and raises its value, or a transportation system is constructed in a city that raises the value of nearby properties. These increases in values are economic rents. Classical economists would tax away the increase in values in order to pay for the road or transportation system.
Neoliberal economists redefined all income as earned. This enables the financial system to capitalize economic rents into mortgages that pay interest. The higher property values created by the road or transportation system boost the mortgage value of the properties. The financialization of the economy is the process of drawing income away from the purchases of goods and services into interest and fees to financial entities such as banks. Indebtedness and debt accumulate, drawing more income into their service until there is no purchasing power left to drive the economy.
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On The Threshold of War
On The Threshold of War
UPDATE
There is no longer any doubt that the criminally insane government in Washington is driving the world to the last war.
https://www.rt.com/news/423634-unsc-security-threats-syria-chemical/
https://www.rt.com/news/423627-russian-military-checks-chemical-douma/
UPDATE:
As Americans we must face the possibility that we have a criminally insane government in Washington that is leading the world to destruction.
A Russian Government Press Release:
False information is being planted about the alleged use of chlorine and other toxic agents by the Syrian government forces. The latest fake news about a chemical attack on Douma was reported yesterday. These reports are again referenced to the notorious White Helmets, which have been proved more than once to be working hand in glove with the terrorists, as well as to other pseudo-humanitarian organisations headquartered in the UK and the US.
We recently warned of the possibility of such dangerous provocations. The goal of these absolutely unsubstantiated lies is to protect the terrorists and the irreconcilable radical opposition that has rejected a political settlement, as well as to justify the possible use of force by external actors.
We have to say once again that military interference in Syria, where Russian forces have been deployed at the request of the legitimate government, under contrived and false pretexts is absolutely unacceptable and can lead to very grave consequences.
This is John Helmer’s interpretation of the warning:
“WHEN THE RULE OF LAW WAS DESTROYED IN SALISBURY, LONDON AND THE HAGUE, AND THE RULE OF FRAUD DECLARED IN WASHINGTON, THAT LEAVES ONLY THE RULE OF FORCE IN THE WORLD. THE STAVKA [the high command of the Russian armed forces] MET IN MOSCOW ON GOOD FRIDAY AND IS READY. THE FOREIGN MINISTRY ANNOUNCED ON SUNDAY “THE GRAVEST CONSEQUENCES”. THIS MEANS ONE AMERICAN SHOT AT A RUSSIAN SOLDIER, THEN WE ARE AT WAR. NOT INFOWAR, NOT CYBERWAR, NOT ECONOMIC WAR, NOT PROXY WAR. WORLD WAR.”
http://johnhelmer.org/?p=17680
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More Lies from the Presstitutes
More Lies from the Presstitutes
The shameless liars that comprise the US media intentionally exaggerated the marchers against “gun violance” by four times the acutal number.
Why?
Why are the media presstitutes involved in advocacy of agendas and not in reporting factual news?
Recent polls show that a majority of Americans believe that gun ownership makes people safer. Americans do not believe that people should be denied safety because of an occasional nutcase or a staged shooting to advance the gun control agenda. Indeed, they wonder who is behind the gun control agenda. They wonder about the dumbshits who are protesting the Second Amendment instead of Washington’s rush into conflict with Russia.
I have no doubt that gun control groups are organized by agents of the police state. The United States is falling apart. All of the increase in income and wealth is going to the One Percent. Everyone else is hurting more each day. See Chris Hedges, for example: http://www.informationclearinghouse.info/49082.htm
The vast majority of Americans are being ground into the dirt by government at all levels. There is no democracy. There is only looting. The One Percent fear that sooner or later even insouciant Americans might rise up. But they can’t if they are disarmed. That is all gun control is about.
Deaths from what the propagandistic “gun violance” shills for the police state hype as a massive problem are such a small percentage of US deaths that they do not even show up statistically. Yet we have all this protest over an infintestimal number of deaths, and no protests at all by opponents of “gun violence” over police killings, which are larger that “gun violence” deaths or over America’s massive murders on a world scale. Where are the “gun violence” protests over the millions of deaths and millions of displaced peoples in Iraq, Libya, Somalia, Syria, Yemen, Afghanistan, Pakistan? Where are the “gun violence” protests against Trumpt’s chosen national security adviser John Bolton’s plan to bomb Iran and North Korea into the stone age?
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Can Nuclear War Be Avoided?
Can Nuclear War Be Avoided?
Two factors are driving the world to nuclear war. One is the constant stream of insults, false accusations and broken agreements that the West has been dumping on Russia year after year. The other is Russia’s response, or, perhaps more correctly, the lack thereof.
Articles documenting Washington’s betrayals and provocations of Russia are available online and on my website. There is no point in repeating them here.
I have pointed out that the Russian government’s factual, diplomatic, and legal responses actually produce more provocations and insults. See, for example, https://www.paulcraigroberts.org/2018/03/17/war-is-on-the-horizon/ Stephen Lendman agrees (http://stephenlendman.org/2018/03/russia-expelling-23-uk-diplomats-way-inadequate/ ) and so does Peter Koenig ( https://thesaker.is/russias-reaction-to-the-insults-of-the-west-is-political-suicide/ ).
Russia has two alternatives to the self-defeating response the government has chosen. One, recommended by Peter Koenig and myself, is to turn her back on the West, cleanse herself of all Western embassies, businesses, media, and NGOs, and cease relying on Western communication systems and bank clearing mechanisms. The West has nothing Russia needs. The West is exhausted and corrupt. The future lies in the East of which Russia is a part. Russia should focus on the partnership with China and relationships in the East and simply stop responding to blatantly false accusations and provocative insults.
Russia can be part of the West only if Russia surrenders to Washington’s hegemony. One would have thought that by now the Russian government would have figured out that Washington is determined to marginalize and isolate Russia, discredit Russia’s government, dislodge Putin and install a puppet like May, Macron, and Merkel, and failing these efforts to push Russia to the point that her only alternatives are to surrender or go to war.
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Killing Diplomacy — Dmitry Orlov
Killing Diplomacy — Dmitry Orlov
Dear Readers: Dmitry Orlov provides the best explanation of the latest allegation against Russia. His article is with his permission posted below. https://www.patreon.com/posts/killing-17570149?utm_medium=post_notification_email&utm_source=post_link&utm_campaign=patron_engagement&token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJyZWRpc19rZXkiOiJpbnN0YW50LWFjY2Vzczo2N2VkNGVmNC0wMDc3LTQ3NDctYjU4Yi1kNzYzYzg4MTAwZjAifQ.AfxaEwhHCrd6yluMHpq51qdEK_RPveNvjiGahgE3A5U
The British Foreign Secretary, Boris Johnson, confirms Orlov’s conclusion that UK diplomacy has collapsed. The UK government has produced zero evidence for its claim. Indeed, we do not even know if the alleged poisoning of a former British spy even occurred. Yet Boris Johnson purports to know that Putin himself made the “decision to direct the use of a nerve agent on the streets of the UK, on the streets of Europe for the first time since the Second World War.”
How would Boris Johnson know this? https://sputniknews.com/world/201803161062599631-johnson-boris-putin-skripal-poisoning/
Killing Diplomacy
Dmitry Orlov
There is the famous aphorism by Karl von Clausewitz: “War is the continuation of politics by other means.” This may be true, in many cases, but it is rarely a happy outcome. Not everybody likes politics, but when given a choice between politics and war, most sane people will readily choose politics, which, even when brimming with vitriol and riddled with corruption, normally remains sublethal. In relations between countries, politics is known as diplomacy, and it is a formal art that relies on a specific set of instruments to keep countries out of war. These include maintaining channels of communication to build trust and respect, exercises to seek common ground, and efforts to define win-win scenarios to which all sides would eagerly agree, including instruments for enforcing agreements.
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Will Russia Wake Up?
Will Russia Wake Up?
Russians are having a difficult time comprehending their Western enemy or even understanding that Russia has an enemy that seeks the destruction of Russia.
Has it occured to Russia that it is very strange that the UK, a country of no military significance, a country that could be completely destroyed forever in a few minutes by Russia, would concoct false charges against the Russian government, announce these charges publicly without providing any evidence whatsoever, bring the unsupported charges to the UN, issue an ultimatum to Russia, dispel Russian diplomats and seize Russian assets on the basis of mere allegations, all the while refusing any evidence and any cooperation with Russia, as required by law, in the investigation of the charges?
Russians, both government, media and youth brainwashed by American propaganda and the Washington-funded NGOS that the Russian government permits to operate against itself in Russia, seem to think that the many accusations and threats issued against Russia are some kind of mistake that can be rectified by recourse to evidence and law. Apparently, after all these years the Russians still do not understand that Washington and its vassals have no interest whatsoever in facts or law.
At the UN the Russian ambassador, in response to the evidence-free accusation by the UK prime minister that the Russian government had used a military-grade nerve agent to attempt to kill two people on an English park bench, went through all the legal reasons, including the requirement of collaboration with Russia in examining the evidence, to establish that the UK acusation was in violation of law and unsupported by any evidence.
Why do the Russians think the British government cares a hoot about law or evidence? Are the Russians really this brainwashed about the West?
The British government of Tony Blair cooperated with the George W. Bush regime in propagating the lie that Saddam Hussein in Iraq had “weapons of mass destruction.” This lie was used to invade and to destroy Iraq and to leave the country 15 years later in chaos.
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World War 3 Is Approaching
World War 3 Is Approaching
“In a nuclear war the “collateral damage” would be the life of all humanity.” — Fidel Castro
The Russians, in their anxiety to show the West how friendly they are, left Washington with a toe hold in Syria, which Washington is using to reopen the war. The Russians’ failure to finish the job has left Washington’s foreign mercenaries, misrepresented in the American presstitute media as “freedom fighters,” in a Syrian enclave. To get the war going again, Washington has to find a way to come to the aid of its mercenaries.
The Trump regime has found, or so it thinks, its excuse in the revival of the Obama regime’s fake charge of Syrian use of chemical weapons. This made-up lie by the Obama regime was put to rest by Russian intervention that made sure there were no Syrian chemical weapons. Indeed, if memory serves, Russia delivered the chemical weapons to the US for destruction. Little doubt Washington still has them and will use some of them with their Syrian markings for what appears to be a coming false flag attack that can be blamed on Assad. In other words, Washington will create a “situation,” blame Assad and Putin, and with or without congressional authorization introduce US intervention in behalf of Washington’s mercenaries. https://www.globalresearch.ca/russia-warns-us-against-attacking-syrian-forces/5631930
If we can believe James Mattis, the retired US Marine General who is US Secretary of Defense, Syria, a country without chemical weapons and in need of none in its mopping up operations against Washington’s mercenaries, is using chlorine gas “against its own people,” exactly the same phrase as the Obama regime used when Obama tried to orchestrate an excuse to attack Syria. Mattis said that he is receiving reports of chlorine gas use by Assad while simultaneously saying he has no evidence of gas use, much less by the Syrian Army.
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A Stalinist Purge In America?
A Stalinist Purge In America?
This year could turn out to be a defining year for the United States. It is clear that the US military/security complex and the Democratic Party aided by their media vassals intend to purge Donald Trump from the presidency. One of the open conspirators declared the other day that we have to get rid of Trump now before he wins re-election in a landslide.
It is now a known fact that Russiagate is a conspiracy of the military/security complex, Obama regime, Democratic National Committee, and presstitute media to destroy President Trump. However, the presstitutes never present this fact to the American public. Nevertheless, a majority of Americans do not believe the Democrats and the presstitutes that Trump conspired with Putin to steal the election.
One question before us is: Will Mueller and the Democrats succeed in purging Donald Trump, as Joseph Stalin succeed in purging Lenin’s Bolsheviks, including Nikolai Bukharin, who Lenin called “the golden boy of the revolution,” or will the Democratic Party and the presstitutes discredit themselves such that the country moves far to the right.
Stalin didn’t need facts and could frame-up people at will as he had absolute power. In the US the presstitute media, like Stalin, does not concern itself with facts, but the presstitutes do not have absolute power. Indeed, few people trust the presstitutes, and even fewer trust Mueller.
Many are puzzled that President Trump has not moved against his enemies as they have no evidence for their charges. Indeed, Mueller’s indictments have nothing whatsoever to do with the Russiagate accusations. Why are not Mueller, Comey, Rosenstein, and all the rest indicted for their clear and obvious crimes?
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Is Washington Sufficiently Intelligent to Be Trusted with an Independent Foreign Policy?
Is Washington Sufficiently Intelligent to Be Trusted with an Independent Foreign Policy?
As I figured would be the case, Putin’s message to the West that Russia cannot be intimidated and that the nations must work together to deal with world problems was far over the heads of the dumbshit “exceptional” Americans. CNN rushed out an idiot named Samantha Vinograd who served as a staffer on Obama’s National Security Council to declare that Putin’s speech was only aimed at one person in the world—President Trump. https://www.cnn.com/2018/03/01/opinions/russia-missile-trump-opinion-vinograd/index.html
Putin, the idiot Samantha Vinograd says, is “poking at Trump’s insecurities” with the threat that “my missiles are bigger than yours.”
The stupid Samantha Vinograd repeats the lie that Russiagate was Putin’s plot “to destabilize the United States.” So, how is the US a superpower when Russia controls US elections? Doesn’t this mean that Americans are of no relevance whatsoever in the world?
I mean, really. With intelligence levels this low on Obama’s National Security Council, no wonder the neoonservatives were able to run over the Obama regime and resurrect the Cold War, thus returning the world to a high chance of nuclear Armageddon.
The idiot Samantha Vinograd says the solution is more sanctions on Russia. She is the epitomy of Einstein’s rule that “insanity is to continue doing the same thing over and over again and expecting different results.”
All the illegal sanctions did was to produce Russian military superiority over the utter fools in Washington.
I really do not think that there is enough intelligence in Washington for the world to allow Washington to have an independent foreign policy.
The world won’t be safe until the government of the United States is committed to an insane asylum
Russiaphobia Is Out of Control
Russiaphobia Is Out of Control
As has been made perfectly clear, Mueller’s “indictment” of 13 Russians and 3 companies is just another hoax. See: https://www.paulcraigroberts.org/2018/02/16/result-muellers-investigation-nothing/ and: http://www.moonofalabama.org/2018/02/mueller-indictement-the-russian-influence-is-a-commercial-marketing-scheme.html
All Mueller has found is a bait-click commercial marketing scheme that had nothing to do with election interference.
Why is Mueller comfortable bringing a transparently false indictment?
The answer is, as Glenn Greenwald makes clear ( https://theintercept.com/2018/02/19/a-consensus-emerges-russia-committed-an-act-of-war-on-par-with-pearl-harbor-and-911-should-the-u-s-response-be-similar/ ) that Mueller knows there are large numbers of warmongering politicians and media whores who will seize on the fake indictment as proof that Russia has “committed an act of war equivalent to Pearl Harbor and 9/11.” The fact that what Mueller has indicted is only a bait-click marketing scheme will never be mentioned by politicians and presstitutes shouting the military/security complex’s slogan that “Russia must be punished.”
Greenwald supplies the names of some of these reckless and irresponsible people who are willing to bring on war with their rants: politicians Hillary Clinton, John McCain, Jeanne Shaheen, Jerry Nadler, Marco Rubio—indeed almost all of Congress—Clinton aides such as Philippe Reines and John Podesta, and the legions of presstitutes such as Karen Tumulty, David Frum, Chuck Todd, Tom Friedman—indeed, the entirety of the print and TV media with the exceptions of Tucker Carlson and Pat Buchanan.
When a country armed to the teeth with nuclear weapons and overwhelmed by its own exceptionalism and indispensability has political and media lunatics equating a bait-click commercial marketing scheme with Pearl Harbor, that country is a recipe for the end of the world.
Note: Two presstitutes at Bloomberg, Lauren Etter and Ilya Arkhipov think that filming disadvantaged Americans in order to cast the US in a bad light is the same as interfering in the presidential election, and they think that a Russian food caterer is heading a Russian disinformation campaign. https://www.bloomberg.com/news/articles/2018-02-21/how-putin-s-cook-fed-america-s-appetite-for-disinformation?cmpid=BBD022118_BIZ&utm_medium=email&utm_source=newsletter&utm_term=180221&utm_campa
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Why Are We In Afghanistan?
Why Are We In Afghanistan?
It is long past time for someone in the shithole known as Washington to tell us why Americans have been killing and dying in Afghanistan for 17 years. Is it to steal the country’s minerals? Is it to control the location of pipelines? Is it to keep American taxpayers money flowing to the US military/security complex? Is it to finance the CIA’s black operations with drug profits? Or is it to prove that the neoconservatives’ dream of US world hegemony is a chimera?
Here are some questions for you from a voice you never have heard:
Letter of the Islamic Emirate to the American people!
The American people, officials of independent non-governmental organizations and the peace loving Congressmen!
With the hope that you will read this letter prudently and will evaluate the future of American forces and your profit and loss inside Afghanistan in light of the prevailing realities alluded to in the following lines!
The American people!
You realize that your political leadership launched a military invasion of our country 17 years ago. This invasion was not only contrary to the legal and national norms of our own sovereign country but also a violation of all international rules and regulations, but still the following three main points were put forward by your authorities to justify this illegitimate invasion:
Establishing security by eliminating the so called terrorists inside Afghanistan.
Restoring law and order by establishing a legal government.
Eradicating narcotics.
However let us analyze how successful your war-monger leaders were in achieving the above three slogans in this illegitimate war?
Increased insecurity and fighting:
In 2001 when your ex-president George W. Bush ordered the invasion of Afghanistan, his justification for that felonious act was the elimination the Islamic Emirate (Taliban) and Al-Qaeda.
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Do Financial Markets Still Exist?
Do Financial Markets Still Exist?
For many decades the Federal Reserve has rigged the bond market by its purchases. And for about a century, central banks have set interest rates (mainly to stabilize their currency’s exchange rate) with collateral effects on securities prices. It appears that in May 2010, August 2015, January/February 2016, and currently in February 2018 the Fed is rigging the stock market by purchasing S&P equity index futures in order to arrest stock market declines driven by fundamentals, and to push prices back up in keeping with a decade of money creation.
No one should find this a surprising suggestion. The Bank of Japan has a long tradition of propping up the Japanese equity market with large purchases of equities. The European Central Bank purchases corporate as well as government bonds. In 1989 Fed governor Robert Heller said that as the Fed already rigs the bond market with purchases, the Fed can also rig the stock market to stop price declines. That is the reason the Plunge Protection Team (PPT) was created in 1987.
Looking at the chart of futures activity on the E-mini S&P 500, we see an uptick in activity on February 2 when the market dropped, with higher increases in future activity last Monday and Tuesday placing Tuesday’s futures activity at about four times the daily average of the previous month. Futures activity last Wednesday and Thursday remained above the average daily activity of the previous month, and Friday’s activity was about three times the previous month’s daily average. The result of this futures activity was to send the market up, because the futures activity was purchases, not sales. http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_quotes_volume_voi.html
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Russia In the Crosshairs
Russia In the Crosshairs
Defending the latest round of US/Israeli aggression against Syria, US State Department spokesperson Heather Nauert struck a Hitlerian note when she blamed Syria and Iran for an act of overt Israeli aggression, saying “The United States . . . strongly supports Israel’s sovereign right to defend itself,” and when she lied that “Iran’s malign activities” and “calculated escalation of threat and its ambition to project its power and dominance places all people in the region at risk.” https://sputniknews.com/middleeast/201802111061547754-state-department-syria-israel-escalation/
Adolf Hiter covered his “projection of power and dominance” and his invasion of Poland with the same blatant lies that Washington and Israel use to cover their aggressions. Hitler claimed that Polish forces had crossed the frontier and attacked Germany. That is the excuse used by Israel and its puppets in the White House and Pentagon that blames Iran for Israel’s attack on Syria. When Washington and Israel are shameless in their lies, why does Russia think they are “partners” with whom agreements can be reached?
Eric Zuesse notes that only Syria and Russia complain about Washington’s illegal occupation of Syrian territory, an occupation that has no UN authorization and is a complete and total violation of international law, and Israel’s continual attacks on Syria. Washington’s continuing support for war against the legitimate government of Syria and support for Israeli and terrorist attacks on Syrian and Russian forces are undermining Russia’s efforts to bring peace to the region. Zuesse also notes that Washington and its UK puppet block all UN action against Washington’s illegality. http://rinf.com/alt-news/editorials/u-s-not-globally-condemned-military-occupation-syria/
Zuesse is correct. But is the continuation of Washington’s campaign against Syria and Russia largely the fault of Russia? Stephen Lendman makes a case that it is Russia’s fault. https://www.globalresearch.ca/russia-blasts-us-attack-on-syrian-and-allied-forces/5628740
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American Think Tanks Are Hired Purveyors of Fake News
American Think Tanks Are Hired Purveyors of Fake News
A couple of decades or more ago when I was still in Washington, otherwise known as the snake pit, I was contacted by a well-financed group that offered me, a Business Week and Scripps Howard News Service columnist with access as a former editor also to the Wall Street Journal, substantial payments to promote agendas that the lobbyists paying the bills wanted promoted.
To the detriment of my net worth, but to the preservation of my reputation, I declined. Shortly thereafter a conservative columnist, a black man if memory serves, was outed for writing newspaper columns for pay for a lobby group.
I often wondered if he was set up in order to get rid of him and whether the enticement I received was intended to shut me down, or whether journalists had become “have pen will travel”? (Have Gun—Will Travel was a highly successful TV Series 1957-1963).
Having read Bryan MacDonald’s article on Information Clearing House, “Anti-Russia Think Tanks in US: Who Funds them?,” I see that think tanks are essentially lobby groups for their donors. The policy analyses and reform schemes that they produce are tailored to support the material interests of donors. None of the studies are reliable as objective evidence. They are special pleading.
Think tanks, such as the American Enterprise Institute, Brookings Institution, and the Atlantic Council, speak for those who fund them. Increasingly, they speak for the military/security complex, American hegemony, corporate interests, and Israel.
Bryan MacDonald lists those who support the anti-Russian think tanks such as the Atlantic Council, the Center for European Policy Analysis, German Marshall Fund of the US, and Institute for Study of War. The “experts” are mouthpieces funded by the US miliary security complex. http://www.informationclearinghouse.info/48755.htm US goverment agencies use taxpayer dollars to deceive taxpayers.
In other words insouciant Americans pay taxes in order to be brainwashed. And they tolerate this.
Washington Threatens America and the World
Washington Threatens America and the World
When I look at news reports from whichever country, I see no awareness of the two most ominous developments in US history. One is the conspiracy between US security agencies, the US Department of Justice, the Democratic Party and the American print and TV media to overthrow the democratically elected president of the United States. With “Russiagate” we have been experiencing a coup against President Trump and American democracy. Although the Democrats’ Identity Politics cannot conceive of it, it is possible to be opposed to President Trump without believing that a police state coup against him is desireable.
The other ominous development is the just released US Nuclear Posture Review, which calls nuclear weapons “useable,” legitimizes their first use, and sets the stage for spending trillions of dollars acquiring more nuclear weapons when massive public needs go unmet and 10 percent of the existing US arsenal is sufficient to destroy all life on earth.
I have written about these extraordinary developments. See, for example, https://www.paulcraigroberts.org/2018/02/05/will-conspiracy-trump-american-democracy-go-unpunished/ and https://www.paulcraigroberts.org/2018/02/02/nuclear-posture-review/
As for the effect it has had, I might as well not have bothered. No government and no news organization of which I am aware has sounded the alarm that the CIA, FBI, DOJ, Democratic Party, and the entirety of the American print and TV media have been caught red-handed in a coup to overthrow the President of the United States, and nothing is being done about it. The coup cannot even be exposed, because the security agencies, media, and Democrats shout down the hard evidence. Saddam Hussein and Gaddafi were murdered on the basis of total lies, and now the President of the United States faces the same fate.
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