News Commentary

Pepe Escobar: Manning guilty; war criminals on the loose

"In a show trial/kangaroo court with an American twist, worthy of the Cultural Revolution in 1960s China, Bradley Manning was predictably found guilty of multiple counts of violating the Espionage Act. If only Walter Benjamin were alive to see the Angel of History once again throwing one of his trademark lightning bolts of irony; Manning was pronounced guilty of being a spy - by a Pentagon judge - just next door to Spy Central, the NSA headquarters in Fort Meade, Maryland." Continue reading →

Continue ReadingPepe Escobar: Manning guilty; war criminals on the loose

Pepe Escobar: Manning guilty; war criminals on the loose

"In a show trial/kangaroo court with an American twist, worthy of the Cultural Revolution in 1960s China, Bradley Manning was predictably found guilty of multiple counts of violating the Espionage Act. If only Walter Benjamin were alive to see the Angel of History once again throwing one of his trademark lightning bolts of irony; Manning was pronounced guilty of being a spy - by a Pentagon judge - just next door to Spy Central, the NSA headquarters in Fort Meade, Maryland." Continue reading →

Continue ReadingPepe Escobar: Manning guilty; war criminals on the loose

A Change in the Current

"More and more willingness to challenge the official story lines of enemies, wars, and terror is developing, even in Congress. The warmongers increasingly look like rabid and senseless extremists. The government has made a martyr of Manning, whose courage and endurance are extraordinary. The government has made a fool of itself internationally over Snowden. The critics of Snowden, increasingly shrill and extreme, cannot fend off the truth of vast government overreach. A switch is in the process of being thrown in which the Empire is going on the defensive. It remains to be seen whether this change in the current will become a turn in the tide." Continue reading →

Continue ReadingA Change in the Current

Eric Margolis: Are We Becoming What We Once Hated?

"In the late 1980’s, an old friend of mine based in Moscow was calling her husband in the USA late one night. She said it was a 'typical dumb husband/wife call,' mostly about a broken garage door. Around midnight, a gruff voice broke into the call. 'This is your KGB listener. This is the most boring, stupid call I’ve ever listened to. Shut up and go to bed!' Ah, those innocent Cold War days. Today, Big Brother listens to your calls, reads your email, and follows your internet searches on silent cat’s feet. China’s Taoists warned, 'you become what you hate.' They are right." Continue reading →

Continue ReadingEric Margolis: Are We Becoming What We Once Hated?

Should You Trust Your Instincts on Gold?

"I have yet to see anyone present any logical economic premise that concludes that our country will not eventually see a currency collapse. Instead, I see several clues that reinforce my concerns. Throughout history thousands of currencies have collapsed, but precious metals have held their value. It should come as no surprise to learn that over the last few years China, Russia, and many central banks have been stockpiling gold. Germany and Venezuela quietly announced earlier this year that they are repatriating their gold stores overseas—not coincidentally mostly from the US—back to their shores." Continue reading →

Continue ReadingShould You Trust Your Instincts on Gold?

Escape From the Grasp of Congress

"With 11.5 million illegal aliens in the country, it’s hard to understand how a relatively small number of departing U.S. emigrants is threatening to U.S. lawmakers. Maybe it’s because those numbers are rising and the federal government fears an increasing number of U.S. citizens moving beyond its control. The only other national regimes to have adopted similar punitive tax laws were Nazi Germany, the Soviet Union under Stalin and apartheid South Africa. I admit expatriation is certainly a drastic plan. However, as we see in the statistics, more and more U.S. citizens are choosing that option as the America we knew and loved fades farther from memory." Continue reading →

Continue ReadingEscape From the Grasp of Congress

Bill Bonner: And the Next Fed Chairman Will Be…

"The hour is the time when Ben Bernanke must shuffle off to some post where he will do less damage. The man is the person (man or woman) who will take his place in the padded chair. As to Yellen, Summers and Kohn, we would reject them all. Clearly, none has any idea what is coming his way or he wouldn’t want the job. But this is a minority opinion. So let’s keep an open mind and examine each of these fish separately. Janet Yellen has three things going for her. According to Alan Blinder’s recent piece in The Wall Street Journal, she (1) is a woman, 2) is a good diplomat and (3) has been around the Fed since 1990 and nothing bad has happened." Continue reading →

Continue ReadingBill Bonner: And the Next Fed Chairman Will Be…

Peter Schiff: Detroit Broke City

"The good news is that the same forces that built Detroit could help turn it around. First off, Detroit needs to default on its debt. This means the bond holders and the citizenry will suffer. But after this painful process is complete, Detroit will have a few things going for it. It will boast abundantly cheap real estate and plenty of desperate workers. [..] Liberals would rather the unemployed stay that way rather than suffer the degradations of capitalism. So instead of such honest cures, look for Detroit to borrow its way out of the crisis while pretending to fix its chronic problems. If we laugh at their foolishness, we should all look in the mirror." Continue reading →

Continue ReadingPeter Schiff: Detroit Broke City

How Do Ponzi Schemes End?

"Detroit promised police officers, firefighters, teachers and other public employees pension and post-retirement health care benefits, but was unwilling to set aside the money needed to fund those benefits. The city attracted workers with a total compensation package that included current wages and future benefits. Since the future benefits were substantially unfunded, they can be paid only if future taxpayers pay them. But the future taxpayers never agreed to this deal. If they do pay, they will be paying for services delivered in the past. If they don’t pay, they won’t have to sacrifice any current city services. So the future taxpayers have flown the coop." Continue reading →

Continue ReadingHow Do Ponzi Schemes End?

Would A Higher Minimum Wage Help McDonald’s Workers?

"It’s tempting to think that the higher wages for workers is worth it, but it isn’t. The minimum wage shifts the margins on which people compete with one another from wages to wasteful competitive endeavors like waiting or investing in too many quality signals. Competition in a price-controlled market can erode the entire value of the difference between the minimum workers are willing to accept and the minimum they are allowed to accept. The cruel irony is that a policy designed to pick the pockets of employers for the benefit of workers ultimately leaves everyone worse off." Continue reading →

Continue ReadingWould A Higher Minimum Wage Help McDonald’s Workers?