A Letter to Barack Obama

by George McGovern Harper's Magazine Easy Chair (September 2011) When President Franklin Roosevelt came into office in the depth of the Great Depression, he sought to stabilize and empower American society by introducing bold new initiatives: Social Security, the Public Works Administration, the Federal Deposit Insurance Corporation, the Rural Electrification Administration, the Tennessee Valley Authority, … Continue reading A Letter to Barack Obama

Modern Money Blog Number Twenty Five – Responses

Isn't the Dollar so Special? Responses to Comments on Blog Number Twenty Five by L Randall Wray New Economic Perspectives (November 24 2011) Thanks, Marty for the vote of confidence. Yes, the accounting is essential; it used to provide the foundation for both macro theory and also for "money and banking" but unfortunately it has … Continue reading Modern Money Blog Number Twenty Five – Responses

Modern Money Blog – Number Twenty Five

Currency Solvency and the Special Case of the US Dollar by L Randall Wray New Economic Perspectives (November 20 2011) In recent blogs we've been looking at sovereign government issues of bonds. We have argued that this is not really a "borrowing" operation but rather bond issues offer a (higher) interest-earning alternative than do reserve … Continue reading Modern Money Blog – Number Twenty Five

Goldman Sachs Has Taken Over

by Paul Craig Roberts opednews.com (November 25 2011) Bankers have seized Europe http://img820.imageshack.us/img820/6236/66091818.jpg On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35% of its offerings of ten-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the … Continue reading Goldman Sachs Has Taken Over

Homeland Security Coordinated Eighteen-City Police Crackdown on Occupy Protest

National Coordination Goes Against Protection of Local Accountability by WashingtonsBlog (November 16 2011) Oakland Mayor Jean said that eighteen cities coordinated police crack downs on Occupy protests {1}. Wonkette reports that Homeland Security likely organized the crack downs {2}: Remember when people were freaking out over the Patriot Act and Homeland Security and all this … Continue reading Homeland Security Coordinated Eighteen-City Police Crackdown on Occupy Protest

The Shocking Truth About the Crackdown on Occupy

The violent police assaults across the US are no coincidence. Occupy has touched the third rail of our political class's venality by Naomi Wolf The Guardian (November 25 2011) http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2011/11/17/1321558948693/Brandon-Watts-lies-injure-007.jpg Brandon Watts lies injured as Occupy Wall Street protesters clash with police in Zuccotti Park Occupy Wall Street protester Brandon Watts lies injured on the … Continue reading The Shocking Truth About the Crackdown on Occupy

A Thanksgiving Prayer

by Albert Bates peaksurfer.blogspot.com (November 24 2011) We confer on our outsized, outmoded lifestyle an absolute, inviolate authoritativeness. 'The American way of life', George H W Bush whorishly opined, 'is not up for negotiation'. {1} In psychology and cognitive science, confirmation bias (or confirmatory bias) is a tendency to search for or interpret information in … Continue reading A Thanksgiving Prayer