Advertising & the Perfect Storm - Sut Jhally. There's no need for all this economic sadomasochism. The intellectual justification for austerity lies in ruins.
It turns out that Harvard economists Carmen Reinhart and Ken Rogoff, who originally framed the argument that too high a "debt-to-GDP ratio" will always, necessarily, lead to economic contraction – and who had aggressively promoted it during Rogoff's tenure as chief economist for the IMF –, had based their entire argument on a spreadsheet error. The premise behind the cuts turns out to be faulty. There is now no definite proof that high levels of debt necessarily lead to recession. 28-year old PhD student debunks the most influential austerity study. New study refutes Reinhart and Rogoff analysis that underpins austerity policy around the world; shows no relation between debt and lack of growth - Transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network.
I'm Paul Jay in Baltimore.In capitals, both political and economic, across Europe, across North America, really, across the world, there's been an assumption based on a study done by two eminent Harvard professors, economists Carmen Reinhart and Kenneth Rogoff, which presented in 2010 their conclusions that 90 percent debt-to-GDP ratio means a collapse in growth. Social and Cultural Capital in Creativity. Wealth Inequality in America. The Wrong Economic Prescriptions: Deeper Austerity as a “Solution” to Austerity.
Leeches could also be used in bloodletting.
The withdrawal of so much blood as to induce syncope (fainting) was considered beneficial, and many sessions would only end when the patient began to swoon. As the economy shows signs of recession, the leeches return. Alan Simpson and Erskine Bowles have issued a new report calling for even deeper austerity. It is not what the economy needs as it stagnates and sputters toward a possible new collapse. Their report combined with President Obama’s State of the Union, the sequestration and Republican dogma are all combining to bring on another round of budget cuts, which will only make recession more likely. A Lucid New Primer on the Collaborative Economy. For anyone scratching their head about how to understand the deeper social and economic dynamics of online networks, a terrific new report has been released by Michel Bauwens called Synthetic Overview of the Collaborative Economy.
Michel, who directs the Foundation for Peer to Peer Alternatives and works with me at the Commons Strategies Group, is a leading thinker and curator of developments in the emerging P2P economy. The report was prepared for Orange Labs, a division of the French telecom company, as a comprehensive survey and analysis of new forms of collaborative production on the Internet.
The report is a massive 346 pages (downloadable as a pdf file under a Creative Commons BY-NC-SA license) and contains 543 footnotes. But it is entirely clear and accessible to non-techies. Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions. John Perkins describes himself as a former economic hit man–a highly paid professional who cheated countries around the globe out of trillions of dollars. 20 years ago Perkins began writing a book with the working title, "Conscience of an Economic Hit Men.
" Perkins writes, "The book was to be dedicated to the presidents of two countries, men who had been his clients whom I respected and thought of as kindred spirits–Jaime Roldós, president of Ecuador, and Omar Torrijos, president of Panama. Both had just died in fiery crashes. Their deaths were not accidental. They were assassinated because they opposed that fraternity of corporate, government, and banking heads whose goal is global empire. Oliver Stone Tears Apart Obama's Empire. Stéphane Hessel. Former GOP Strategist Kevin Phillips on the Roots of American Revolution and Future of US Politics. With the Republican Party in a state of turmoil following Mitt Romney’s loss three weeks ago, we begin today’s show with a guest who was once one of the most influential Republican strategists.
In 1969 Kevin Phillips wrote the groundbreaking book, "The Emerging Republican Majority. " Newsweek described the book as the “political bible of the Nixon administration.” After a series of best-selling books on the Bush family, Wall Street and the American theocracy, Phillips is looking back at the roots of the American Revolution in his new book, "1775: A Good Year for Revolution.” Why So Secretive? The Trans-Pacific Partnership as Global Coup. A summit with leaders of the member states of the Trans-Pacific Strategic Economic Partnership Agreement (TPP) in November, 2010.
(Photo: Gobierno de Chile) The Trans-Pacific Partnership is the most secretive and “least transparent” trade negotiations in history. Luckily for the populations and societies that will be affected by the agreement, there are public research organizations and alternative media outlets campaigning against it – and they’ve even released several leaks of draft agreement chapters. From these leaks, which are not covered by mainstream corporate-controlled news outlets, we are able to get a better understanding of what the Trans-Pacific Partnership actually encompasses.
Zbigniew Brzezinski Still Admits The Global Political Awakening Proving Very Difficult For The Elite. Election maps. Email: Thanks to everyone who wrote in about the maps.
I've received so much email that I may not be able to reply to everyone, but I much appreciate all your comments and suggestions. Many of the things people have been asking about are answered in this list of frequently asked questions. Obama and progressives: what will liberals do with their big election victory? (updated below) The greatest and most enduring significance of Tuesday night's election results will likely not be the re-election of Barack Obama, but rather what the outcome reflects about the American electorate.
It was not merely Democrats, but liberalism, which was triumphant. TEDxBerlin - Bernard Lietaer - 11/30/09. Why I Refuse to Vote for Barack Obama - Conor Friedersdorf. The case against casting a ballot for the president -- even if you think he's better than Mitt Romney Reuters Tell certain liberals and progressives that you can't bring yourself to vote for a candidate who opposes gay rights, or who doesn't believe in Darwinian evolution, and they'll nod along.
Say that you'd never vote for a politician caught using the 'n'-word, even if you agreed with him on more policy issues than his opponent, and the vast majority of left-leaning Americans would understand. Spain Protesters Encircle Parliament. Why We’re All Going To Die. “Those who make peaceful evolution impossible make violent revolution inevitable.”- John F. Kennedy The only way out is through. Global society is dependent on artificially inflated energy resources—i.e. oil—that are directly leading us toward total collapse. Technology is being used to most efficiently maximize wealth of the largest corporate conglomerates at the expense of the social fabric and a living environment. The biosphere is in fact collapsing. The Big, Fat Lie Behind Romney's Absurd 47% Argument. Map of the US showing states where the number of electoral votes is uncertain and where the presidential election could be won or lost. September 19, 2012 | Like this article? We Are Writing the Epilogue to the World We Knew.
The data continue to roll in, and they are telling us we are in the process of bringing an end to the world we evolved in, and creating a new, harsher world. We will be forced to devote more and more of our resources trying to adapt to this new world, and less on development. While politicians fiddle, the world burns. While the press plays he-said, she-said, the ice melts, the seas rise. In 1990 we could have averted this disaster and saved money doing it.
As late as 2010 we still had a shot at avoiding it. Rob Hopkins: Transition to a world without oil. Corporations are primarily intellectual property rentiers. Gavin Mueller has a great article in the summer issue of Jacobin Magazine about piracy, and at one point drops this jaw-dropping statistic: “Intellectual property makes up 80 percent of the net worth of US corporations and 60 percent of their exports.” I ran the statistic down and found that it apparently originated from an FTC report called The Evolving IP Marketplace. This is an incredible statistic for a number of reasons, but the biggest one is that it strikes at the core of American economic mythology. We like to think of the US economy as one driven by private enterprise that is independent of government help. Leftists often point out that the independence from government is an illusion: government investment plays a significant role in the economy and, more fundamentally, property ownership and contract enforcement are government creations.
Laurie Penny: It's not rhetoric to draw parallels with Nazism - Commentators - Opinion. Once, right-wing thugs only came out to attack immigrants at night. Now they do so in daylight, unafraid of the consequences because there rarely are any. In recent weeks, the number and severity of the attacks have increased – on 12 August, a 19-year-old Iraqi asylum seeker was fatally stabbed by a gang on motorcycles just streets away from the Greek parliament – and if migrants report attacks to police, they risk being arrested.
Not only are crimes against immigrants in Greece considered low priority, much of Golden Dawn's support base comes from police ranks. Exit polls in the May 2012 elections suggested that in some urban districts up to 50 per cent of Greek police voted for the racist group, which now holds 7 per cent of the seats in parliament. The stabbings, beatings and motorbike attacks have become so routine that in many parts of the capital, immigrants are afraid to go out alone. The Five Big Misrepresentations Of Paul Ryan's Convention Speech. Italy elects first transhumanist MP. Truthout Interviews Chris Hedges About Why Revolt Is All We Have Left.
Shhhh… It’s Even Worse Than The Great Depression. Why Industrial Capitalism is Useful. Wheels Down on Mars. Now It's Time to Reinvent America, Says Neil deGrasse Tyson. Bill McKibben’s New Article Is Terrifying. Anarchism in everyday life? : Anarchism. Cascadia Rising. Business - Derek Thompson - The Economic History of the Last 2000 Years: Part II. The week that Europe stopped pretending. Osaka and Scotland: local leaders and decentralization. The Grinding Halt: Reality Falls to Bits and Pieces. The Crazy Things That One Whistleblower Says Are Happening At JP Morgan Will Blow Your Mind. Douglas Rushkoff - Open Source Democracy. America Beyond Capitalism. Taking Back Globalization - Olivier De Schutter. China’s very mysterious data. Germany has the economic strengths America once boasted - latimes.com. Here's Why Iceland Is Seeing A Really Quick Recovery. Cut the working week to a maximum of 20 hours, urge top economists. History of U.S. Intervention in Iran - 1953 Until Present.
Chinese Central Banker Declares That 'Gold Is The Only Safe Haven Left' Frank Zappa, Howard Zinn, and Noam Chomsky on American Fascism (separate clips) Europe on a Chinese shoestring. How to Radically Empower over 2/3rds of the World’s Population « Let A Thousand Nations Bloom. Global rebellion: The coming chaos? A Message From Anonymous To The Global (R)evolution. How Amazon Became the World's Largest Retailer. Culture in Economics and the Culture of Economics: Raquel Fernandez in Conversation with The Straddler. Russia is seeing an emigration exodus.