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Setting the Record Straight; Stuff You Should Know About Ukraine

 

On February 16, 2022, a full week before Putin sent combat troops into Ukraine, the Ukrainian Army began the heavy bombardment of the area (in east Ukraine) occupied by mainly ethnic Russians. Officials from the Observer Mission of the Organization for Security and Co-operation in Europe (OSCE) were located in the vicinity at the time and kept a record of the shelling as it took place. What the OSCE discovered was that the bombardment dramatically intensified as the week went on until it reached a peak on February 19, when a total of 2,026 artillery strikes were recorded. Keep in mind, the Ukrainian Army was, in fact, shelling civilian areas along the Line of Contact that were occupied by other Ukrainians.

We want to emphasize that the officials from the OSCE were operating in their professional capacity gathering first-hand evidence of shelling in the area. What their data shows is that Ukrainian Forces were bombing and killing their own people. This has all been documented and has not been challenged.

So, the question we must all ask ourselves is this: Is the bombardment and slaughter of one’s own people an ‘act of war’?

Map from  Moon of Alabama
Map from Moon of Alabama

We think it is. And if we are right, then we must logically assume that the war began before the Russian invasion (which was launched a full week later) We must also assume that Russia’s alleged “unprovoked aggression” was not unprovoked at all but was the appropriate humanitarian response to the deliberate killing of civilians. In order to argue that the Russian invasion was ‘not provoked’, we would have to say that firing over 4,000 artillery shells into towns and neighborhoods where women and children live, is not a provocation? Who will defend that point of view?

…click on the above link to read the rest…

Covid-19: Phase 1 of the “Permanent Crisis”?

Covid-19: Phase 1 of the “Permanent Crisis”?

Let’s assume that the events of the last five months are neither random nor unexpected.

Let’s say they’re part of an ingenious plan to transform American democracy into a lockdown police state controlled by criminal elites and their puppet governors.

And let’s say the media’s role is to fan the flames of mass hysteria by sensationalizing every gory detail, every ominous prediction and every slightest uptick in the death toll in order to exert greater control over the population.

And let’s say the media used their power to craft a message of terror they’d repeat over and over again until finally, there was just one frightening storyline ringing-out from every soapbox and bullhorn, one group of governors from the same political party implementing the same destructive policies, and one small group of infectious disease experts –all incestuously related– issuing edicts in the form of “professional advice.”

Could such a thing happen in America?

What’s most astonishing about the Covid-19 operation is the manner in which the elected government was circumvented by public health experts (connected to a power-mad billionaire activist.) That was a stroke of genius. Most people regard the US as a fairly stable democracy and yet, the first sign of infection triggered the rapid transfer of power from the president to unelected “professionals” whose conflicts of interest are too vast to list.

Equally fascinating is the fact that the lockdowns were not the brainchild of Donald Trump but the mainly Democrat governors who shrugged-off any Constitutional limits to their power and arbitrarily ordered people to stay in their homes, wear masks and avoid close physical contact with other humans.

…click on the above link to read the rest of the article…

10 Signs the U.S. Is Heading for a Depression

10 Signs the U.S. Is Heading for a Depression 

1– Unemployment is off-the-charts

Thursday’s jobless claims leave no doubt that the country is in the grips of another severe recession. More than 6.6 million Americans filed for unemployment insurance in the last week. That number exceeds the gloomiest prediction of more than 40 economists and pushes the two-week total to an eye-watering 10 million claims.

According to CNBC: 

“Those at the lower end of the wage scale have been especially hard-hit during a crisis that has seen businesses either cut staff outright or at best freeze any new hiring until there’s more visibility about how efforts to contain the coronavirus will work.

“We’ve lived through the recession and 9/11. What we’re seeing with this decline is actually worse than both of those events,” said Irina Novoselsky, CEO of online jobs marketplace CareerBuilder.” (CNBC)

According to New York Magazine:

“Economists at the Federal Reserve Bank of St. Louis projected Monday that job losses from the coronavirus recession would reach 47 million and push America’s unemployment rate to 32.1 percent — more than 7 points higher than its Great Depression–era peak.”

2– Service Sector has been walloped by the virus

Services account for 70% of the US economy, but presently the sector is in meltdown. According to the analysts at Wolf Street: “Employment contracted sharply and hours were reduced for those still employed. “The employment index plunged from +6.1 to -23.8, also the lowest level on record…

Retailers got whacked. The Retail Sales Index of the Texas Retail Outlook Survey collapsed from the already beaten-down level of -2.5 in February to an epic all-time low of -82.6 in March… (Also) the general business activity index collapsed from the beaten down level of -5.0 to a historic low of -84.2….

…click on the above link to read the rest of the article…

Coronageddon: Can a “Minsky Moment” be Avoided?

Coronageddon: Can a “Minsky Moment” be Avoided?

There’s a chance that the coronavirus will be contained in the United States and that fewer people will be infected than in China or Iran. But there’s also a possibility that the highly-contagious virus will spread and that there will be sporadic outbreaks across the country. If this latter scenario takes place, then the ructions in the stock market will intensify making it impossible to form a bottom or spark a relief rally. If stocks can’t find a bottom, then pressure will build on the weak players, who purchased securities with borrowed cash, to sell their good assets along with the bad in order to repay their debts. These massive selloffs can quickly turn into firesales where it’s nearly impossible to find a buyer regardless of price. This is what the financial media calls “panic selling”, a vicious, self-reinforcing downward spiral in which stock prices collapse in a frantic, disorderly selloff. The phenomenon has also been described by Pimco’s Paul McCulley as a “Minsky Moment”. Here’s a definition from Investopedia:

“Minsky Moment crises generally occur because investors, engaging in excessively aggressive speculation, take on additional credit risk during prosperous times, or bull markets. The longer a bull market lasts, the more investors borrow to try and capitalize on market moves. Minsky Moment defines the tipping point when speculative activity reaches an extreme that is unsustainable, leading to rapid price deflation and unpreventable market collapse. What follows, as hypothesized by Hyman Minsky, is a prolonged period of instability.” (Investopedia)

So, how close are we to a Minsky Moment?

…click on the above link to read the rest of the article…

Gas Wars in the Mediterranean

Gas Wars in the Mediterranean 

The unexpected alliance between Turkey and Libya is a geopolitical earthquake that changes the balance of power in the eastern Mediterranean and across the Middle East. Turkey’s audacious move has enraged its rivals in the region and cleared the way for a dramatic escalation in the 9 year-long Libyan civil war. It has also forced leaders in Europe and Washington to decide how they will counter Turkey’s plan to defend the U.N-recognized Government of National Accord (GNA), and to extend its maritime borders from Europe to Africa basically creating “a water corridor through the eastern Mediterranean linking the coasts of Turkey and Libya.” Leaders in Ankara believe that the agreement “is a major coup in energy geopolitics” that helps defend Turkey’s “sovereign rights against the gatekeepers of the regional status quo.” But Turkey’s rivals strongly disagree. They see the deal as a naked power grab that undermines their ability to transport natural gas from the East Mediterranean to Europe without crossing Turkish waters. In any event, the Turkey-Libya agreement has set the stage for a broader conflict that will unavoidably involve Egypt, Israel, UAE, Saudi Arabia, Europe, Russia and the United States. All parties appear to have abandoned diplomatic channels altogether and are, instead, preparing for war.

On November 27, Turkey and Libya signed a Memorandum of Understanding (MoU) that commits Turkey to providing military assistance to Libya’s Government of National Accord (GNA). The MoU also redraws Turkey’s maritime boundaries in a way that dramatically impacts the transport of gas from the East Mediterranean to Europe. Israel is particularly worried that this new deal will undermine its plans for a 1,900-kilometer EastMed pipeline connecting the Leviathan gas field, off the coast of Israel, to the EU. YNET News summarized Israel’s concerns in an ominously titled article: “Turkey’s maneuver could block Israel’s access to the sea”. Here’s an excerpt:

…click on the above link to read the rest of the article…

How Brzezinski’s Chessboard Degenerated Into Brennan’s Russophobia

How Brzezinski’s Chessboard Degenerated Into Brennan’s Russophobia

“Russia is an inalienable and organic part of Greater Europe and European civilization. Our citizens think of themselves as European. That’s why Russia proposes moving towards the creation of a common economic space from the Atlantic to the Pacific Ocean, a community referred to by Russian experts as ‘the Union of Europe’ which will strengthen Russia’s potential in its economic pivot toward the ‘New Asia.’” Vladimir Putin, President of the Russian Federation, February 2012

The allegations of ‘Russian meddling’ only make sense if they’re put into a broader geopolitical context. Once we realize that Washington is implementing an aggressive “containment” strategy to militarily encircle Russia and China in order to spread its tentacles across Central Asian, then we begin to understand that Russia is not the perpetrator of the hostilities and propaganda, but the victim. The Russia hacking allegations are part of a larger asymmetrical-information war that has been joined by the entire Washington political establishment. The objective is to methodically weaken an emerging rival while reinforcing US global hegemony.

Try to imagine for a minute, that the hacking claims were not part of a sinister plan by Vladimir Putin “to sow discord and division” in the United States, but were conjured up to create an external threat that would justify an aggressive response from Washington. That’s what Russiagate is really all about.

US policymakers and their allies in the military and Intelligence agencies, know that relations with Russia are bound to get increasingly confrontational, mainly because Washington is determined to pursue its ambitious “pivot” to Asia plan. This new regional strategy focuses on “strengthening bilateral security alliances, expanding trade and investment, and forging a broad-based military presence.”

 …click on the above link to read the rest of the article…

If There’s a War in Korea, Blame Trump

If There’s a War in Korea, Blame Trump

Brainwashed Americans believe that Kim Jong-un is responsible for the confrontation between Pyongyang and Washington, but nothing could be further from the truth. The real problem is not Kim’s nuclear weapons but Washington’s 65 year-long military occupation that continues to reinforce a political solution that was arbitrarily imposed on a sovereign nation in order to split the country in two, install a puppet regime in the south, establish a permanent military presence to defend US commercial interests, and maintain control of a strategically-located territory that is a critical part of Washington’s plan to encircle Russia and China to remain the dominant global power throughout the century.  Simply put, Washington is 100 percent responsible for the current confrontation just as it has been responsible for every flare-up for the last 7 decades.

Even so, fighting back against the relentless outpouring of US-backed state propaganda is no easy task. So allow me to defend the position of the DPRK with just one, brief analogy that will help to put things into perspective:

Imagine if the Korean army decided to deploy tens of thousands of combat troops to fight on the side of the South during the Civil War. And let’s say, that these forces were so successful that they were able to kill 3 million Americans while reducing every business and factory, every home and hospital, every church and university, to smoldering rubble. As a result of Korean meddling, the North was unable to win the war, but was forced to settle for an armistice that permanently split the US into North and South allowing Korea to install its stooges in the capitol of Richmond while it established military bases in every southern state from Virginia to Louisiana.

…click on the above link to read the rest of the article…

The Problem is Washington, Not North Korea

The Problem is Washington, Not North Korea

Photo by Stefan Krasowski | CC BY 2.0

Photo by Stefan Krasowski | CC BY 2.0

Washington has never made any effort to conceal its contempt for North Korea. In the 64 years since the war ended, the US has done everything in its power to punish, humiliate and inflict pain on the Communist country. Washington has subjected the DPRK to starvation,  prevented its government from accessing foreign capital and markets, strangled its economy with crippling economic sanctions, and installed lethal missile systems and military bases on their doorstep.

Negotiations aren’t possible because Washington refuses to sit down with a country which it sees as its inferior.  Instead, the US has strong-armed China to do its bidding by using their diplomats as interlocutors who are expected to convey Washington’s ultimatums as threateningly as possible.  The hope, of course, is that Pyongyang will cave in to Uncle Sam’s bullying and do what they are told.

But the North has never succumbed to US intimidation and there’s no sign that it will. Instead, they have developed a small arsenal of nuclear weapons to defend themselves in the event that the US tries to assert its dominance by launching another war.
There’s no country in the world that needs nuclear weapons more than North Korea. Brainwashed Americans, who get their news from FOX or CNN, may differ on this point, but if a hostile nation deployed carrier strike-groups off the coast of California while conducting massive war games on the Mexican border (with the express intention of scaring the shit of people) then they might see things differently. They might see the value of having a few nuclear weapons to deter that hostile nation from doing something really stupid.

…click on the above link to read the rest of the article…

Stop the Fed Before it Kills Again

Stop the Fed Before it Kills Again 

shutterstock_417681448

Why has the Fed created incentives for US corporations to loot their companies and drive them deeper into debt?

Despite four consecutive quarters of negative earnings, weak demand and anemic sales, US corporations continue to load up on debt, buy back their own shares and hand out cash to their shareholders that greatly exceeds the amount of profits they are currently taking in. According to the Wall Street Journal: “SandP 500 companies through the first two quarters of the year collectively returned 112% of their earnings through buybacks and dividends.”

You read that right, US corporations are presently giving back more than they are taking in, which is the moral equivalent of devouring one’s offspring.

These companies have all but abandoned the traditional practice of recycling earnings into factories, productivity or research and development. Instead, they’re engaged in a protracted liquidation process where the creditworthiness of their companies is used to borrow as much money as possible from the bond market which is then divvied up among insatiable CEOs and their shareholders. This destructive behavior can be traced back to the perennial low rates and easy money that the Fed has created to enhance capital accumulation during a period when the economy is still mired in stagnation. The widening chasm that has emerged between the uber-wealthy and everyone else since the end of the financial crisis in 2008, attests to the fact that the Fed’s plan has succeeded beyond anyone’s wildest imagination. The rich continue to get richer while the middle class drowns in an ocean of red ink. This is from CNBC:

“Corporate debt is projected to swell over the next several years, thanks to cheap money from global central banks, according to a report Wednesday that warns of a potential crisis from all that new, borrowed cash floating around.

…click on the above link to read the rest of the article…

Is This Class Warfare?

Is This Class Warfare?

Check out these charts from a recent report by Deutsche Bank and see what you think:

Screen Shot 2016-03-29 at 6.15.59 PM

(Feeling Underpaid, Zero Hedge)

Well, what do you know? Everywhere the global bank cartel has its tentacles, wages are either flatlining or drifting lower.

“Coincidence”, you say?

Not bloody likely, I say. There’s either policy coordination between the various heads of state and their central banks or wealthy elites have secretly seized the levers of power and imposed their neoliberal dogma when no one was looking. Either way, it’s pretty easy to see the effects of “extraordinary monetary accommodation” on wages. It’s done absolutely nothing, which is why inflation has stayed in check. Because if wages aren’t rising, then inflation remains subdued which gives central bankers an excuse for launching another one of their trillion dollar QE programs that further enriches their crooked friends on Wall Street.

Yipee! More free money for Wall Street and the investor class!

See how it works?

And what about productivity? Why are wages no longer rising along with productivity?

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(What Killed the Middle Class, Zero Hedge)

It seems fairly obvious that if wages don’t rise with productivity, then personal consumption is going to flag and the economy’s going to tank. If that’s the case, then boosting wages should be a top priority among policymakers, right?

But it’s not. The top priority for most politicians is kowtowing to their private sector bosses who fund their campaigns and make sure they have a nice-comfy job when they finally call it quits after years of groveling service. Isn’t that the way it usually works for these so-called “public servants”; they craft legislation that serves their fatcat constituents and then count the days until their next big payoff?

…click on the above link to read the rest of the article…

Subprime Auto Loans: the Next Shoe to Drop?

Subprime Auto Loans: the Next Shoe to Drop?

Booming auto sales have more to do with low rates and easy financing than they do with the urge to buy a new vehicle.  In the last few years, car buyers have borrowed nearly $1 trillion to finance new and used autos.  Unfortunately, much of that money was lent to borrowers who have less-than-perfect credit and who might not be able to repay the debt. Recently there has been a surge in delinquencies among subprime borrowers whose loans were packaged into bonds and sold to investors. The situation is similar to the trouble that preceded the Crash of 2008 when prices on subprime mortgage-backed securities (MBS) suddenly collapsed sending the global financial system off a cliff.  No one expects that to happen with auto bonds, but story does help to illustrate that the regulatory problems still haven’t been fixed.

In a recent article in the Wall Street Journal, author Serena Ng uses the performance of a bond issue called Skopos Auto Receivables Trust to explain what’s going on. She says:

“The bonds were built out of subprime auto loans and sold in November. Through February, about 12% of the underlying loans were at least 30 days past due, a third of which were more than 60 days delinquent. In another 2.6% of loans, borrowers had filed for bankruptcy or the vehicles had been repossessed.”  (“Subprime Flashback: Early Defaults Are a Warning Sign for Auto Sales“, Wall Street Journal)

Check out those dates again. If a loan, that was issued in November, is 60 days delinquent by February, it means the borrower never even made the first payment on the debt. How can that happen unless the lender is deliberately fudging the underwriting to “slam the sale”?

It can’t, which means that dealers are intentionally lending money to people they know won’t be able to pay them back.

But why would they do that?

…click on the above link to read the rest of the article…

Compare Mike Whitney’s Truthful Account Of Syria With The Disinformation Published By The Washington Post

Compare Mike Whitney’s Truthful Account Of Syria With The Disinformation Published By The Washington Post

http://www.informationclearinghouse.info/article44174.htm 

vs.

https://www.washingtonpost.com/opinions/the-era-of-us-abdication-on-syria-must-end/2016/02/09/55226716-ce96-11e5-88cd-753e80cd29ad_story.html 

There is no such thing as “the Syrian opposition.” The “opposition” consists almost entirely of the Washington-backed ISIS, which Washington sent to Syria to topple the government when Russia blocked the neoconized Obama regime from its plan to invade Syria. Washington, the presstitute media and various bought-and-paid-for “experts” pretend that ISIS is not really ISIS but a “democratic Syrian opposition.” Only an utter fool could believe this fantasy lie.

The Chart That Explains Everything

The Chart That Explains Everything

It’s the policy, stupid. And here’s the chart that explains exactly what the policy is.

Screen Shot 2016-01-14 at 12.06.21 PM

(Richard Koo: The ‘struggle between markets and central banks has only just begun’, Business Insider)

What the chart shows is that the vast increase in the monetary base didn’t impact lending or trigger the credit expansion the Fed had predicted. In other words, the Fed’s madcap pump-priming experiment (aka– QE) failed to stimulate growth or put the economy back on the path to recovery. For all practical purposes, the policy was a flop.

QE did, however, touch off an unprecedented 6-year bull market rally that pushed stocks into the stratosphere while the real economy continued to languish in a long-term slump. And the numbers are pretty impressive too. For example, the Dow Jones Industrial Average, which bottomed at 6,507 on March 9, 2009, soared to an eye-popping 18,312 points by May 19, 2015, an 11,805 point-surge in just five years. And the S&P did even better. From its March 9, 2009 bottom of 676 points, the index skyrocketed to a record-high 2,130 points on May 21, 2015, tripling its value at the fastest pace in history.

What the chart shows is that the Fed knew from 2010-on that stuffing the banks with excess reserves was neither lowering unemployment or revving up the economy. The liquidity was merely driving stocks higher.

It’s worth noting, that the Fed knows that credit does not flow into the economy without a transmission mechanism, that is, unless creditworthy borrowers are willing to to take out loans. Absent additional lending, the liquidity remains stuck in the financial system where it eventually creates asset bubbles.

…click on the above link to read the rest of the article…

Putin Leads BRICS Uprising

Putin Leads BRICS Uprising

There’s been a virtual blackout of news from this year’s seventh annual BRICS summit in Ufa, Russia.  None of the mainstream media organizations are covering the meetings or making any attempt to explain what’s going on.  As a result, the American people remain largely in the dark about a powerful coalition of nations that are putting in place an alternate system that will greatly reduce US influence in the world and end the current era of superpower rule.

Let’s cut to the chase: Leaders of the BRICS (Brazil, Russia, India, China and South Africa) realize that global security cannot be entrusted to a country that sees war as a acceptable means for achieving its geopolitical objectives.  They also realize that they won’t be able to achieve financial stability as long as Washington dictates the rules, issues the de facto “international” currency, and controls the main levers of global financial power. This is why the BRICS have decided to chart a different course, to gradually break free from the existing Bretton Woods system, and to create parallel system that better serves their own interests. Logically, they have focused on the foundation blocks which support the current US-led system, that is, the institutions from which the United States derives its extraordinary power; the dollar, the US Treasury market, and the IMF. Replace these, the thinking goes, and the indispensable nation becomes just another country struggling to get by.  This is from the Asia Times:

“Leaders of the BRICS… launched the  New Development Bank, which has taken three years of negotiations to bring to fruition. With about $50 billion in starting capital, the bank is expected to start issuing debt to fund infrastructure projects next year. They also launched a foreign-exchange currency fund of $100 billion.

 

…click on the above link to read the rest of the article…

Olduvai IV: Courage
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Olduvai II: Exodus
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