Janet Yellen is Right: She Can’t Predict the Future

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Posted on 24th May 2015 by Administrator in Economy |Politics |Social Issues

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undefinedThis week I found myself in rare agreement with Janet Yellen when she admitted that her economic predictions are likely to be wrong. Sadly, Yellen did not follow up her admission by handing in her resignation and joining efforts to end the Fed. An honest examination of the Federal Reserve’s record over the past seven years clearly shows that the American people would be better off without it.

Following the bursting of the Federal Reserve-created housing bubble, the Fed embarked on an unprecedented program of bailouts and money creation via quantitative easing (QE) 1, 2, 3, etc. Not only has QE failed to revive the economy, it has further damaged the average American’s standard of living while benefiting the financial elites. None other than Donald Trump has called QE “a great deal for guys like me.”

The failure of quantitative easing to improve the economy has left the Fed reluctant to raise interest rates. Yet the Fed does not want to appear oblivious to the dangers posed by keeping rates artificially low. This is why the Fed regularly announces that the economy will soon be strong enough to handle a rate increase.

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New Military Spending Bill Expands Empire But Forbids Debate on War

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Posted on 17th May 2015 by Administrator in Economy |Politics |Social Issues

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undefinedOn Friday the House passed a massive National Defense Authorization for 2016 that will guarantee US involvement in more wars and overseas interventions for years to come. The Republican majority resorted to trickery to evade the meager spending limitations imposed by the 2011 budget control act – limitations that did not, as often reported, cut military spending but only slowed its growth.

But not even slower growth is enough when you have an empire to maintain worldwide, so the House majority slipped into the military spending bill an extra $89 billion for an emergency war fund. Such “emergency” spending is not addressed in the growth caps placed on the military under the 2011 budget control act. It is a loophole filled by Congress with Fed-printed money.

Ironically, a good deal of this “emergency” money will go to President Obama’s war on ISIS even though neither the House nor the Senate has debated – let alone authorized – that war! Although House leadership allowed 135 amendments to the defense bill – with many on minor issues like regulations on fire hoses – an effort by a small group of Representatives to introduce an amendment to debate the current US war in Iraq and Syria was rejected.

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LOSING LIBERTIES

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Posted on 14th May 2015 by Administrator in Economy |Politics |Social Issues

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In the US, a bill to end the National Security Agency’s mass collection of phone records has won broad support in the House of Representatives. The hosts of RT’s “Watching the Hawks” spoke to former US Presidential candidate Ron Paul about the bill. He believes US citizens are losing their liberties because of Washington’s involvement in foreign wars.


NSA Spying Ruled Illegal, But Will Congress Save the Program Anyway?

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Posted on 11th May 2015 by Administrator in Economy |Politics |Social Issues

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undefinedThis week the Sixth Circuit Court of Appeals ruled that the NSA’s metadata collection program was not authorized in US law. The PATRIOT Act, under which the program began, was too vague, the court found. But the truth is the Act was intended to be vague so that the government could interpret it in the broadest possible way.

But this is really more of a technicality, because illegality and unconstitutionality are really two very different things. Even if Congress had explicitly authorized the government to collect our phone records, that law would still be unconstitutional because the Constitution does not grant government the power to access our personal information without a valid search warrant.

Even though the court found the NSA program illegal, it did not demand that the government stop collecting our information in this manner. Instead, the court kicked the ball back in Congress’ court, as these provisions of the PATRIOT Act are set to expire at the end of the month and the Appeals Court decided to let Congress decide how to re-authorize this spying program.

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EMPIRE OF LIES

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Posted on 6th May 2015 by Administrator in Economy |Politics |Social Issues

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EMPIRE OF LIES: The Ron Paul Documentary

This Kickstarter campaign marks the first public announcement of an important new project, EMPIRE OF LIES: The Ron Paul Documentary.

Although Ron Paul has been approached many times by many others to be the subject of a documentary, he has not agreed to participate.

Until now.

We are very pleased to have Ron Paul’s help and cooperation in this production and are grateful for his personal support.

Now we are asking for your help as well. We are counting on the Kickstarter community, lovers of liberty, Ron Paul supporters and others so that we can keep this important project independent.

We are not willing to make a weak or watered-down documentary.

Even in conventional terms Ron Paul is a remarkably successful politician.

He won election to the House 12 times over a span of five decades. Paul’s wins include the unmatched record of being elected three times to the House as a non-incumbent.

He was the presidential nominee of the Libertarian Party in 1988, and sought the Republican presidential nomination in 2008 and 2012.

Stunned by the university stadiums and civic arenas filled with young supporters, other candidates like Hillary Clinton marveled at the size and the passion of the Ron Paul crowds.

Others envied Ron Paul’s astonishing ability to raise money. But the new digital-age, world-record fundraising was not the work of the campaign organization. Millions poured into the Ron Paul campaign spontaneously from the grassroots.

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USA FREEDOM Act: Just Another Word for Lost Liberty

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Posted on 3rd May 2015 by Administrator in Economy |Politics |Social Issues

undefinedApologists for the National Security Agency (NSA) point to the arrest of David Coleman Headley as an example of how warrantless mass surveillance is necessary to catch terrorists. Headley played a major role in the 2008 Mumbai terrorist attack that killed 166 people.

While few would argue that bringing someone like Headley to justice is not a good thing, Headley’s case in no way justifies mass surveillance. For one thing, there is no “terrorist” exception in the Fourth Amendment. Saying a good end (capturing terrorists) justifies a bad means (mass surveillance) gives the government a blank check to violate our liberties.

Even if the Headley case somehow justified overturning the Fourth Amendment, it still would not justify mass surveillance and bulk data collection. This is because, according to an investigation by ProPublica, NSA surveillance played an insignificant role in catching Headley. One former counter-terrorism official said when he heard that NSA surveillance was responsible for Headley’s capture he “was trying to figure out how NSA played a role.”

The Headley case is not the only evidence that the PATRIOT Act and other post-9/11 sacrifices of our liberty have not increased our security. For example, the NSA’s claim that its surveillance programs thwarted 54 terrorist attacks has been widely discredited. Even the president’s Review Group on Intelligence and Communications Technologies found that mass surveillance and bulk data collection was “not essential to preventing attacks.”

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The Real War on the Middle Class

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Posted on 27th April 2015 by Administrator in Economy |Politics |Social Issues

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One of the great ironies of American politics is that most politicians who talk about helping the middle class support policies that, by expanding the welfare-warfare state, are harmful to middle-class Americans. Eliminating the welfare-warfare state would benefit middle-class Americans by freeing them from exorbitant federal taxes, including the Federal Reserve’s inflation tax.

Politicians serious about helping middle-class Americans should allow individuals to opt out of Social Security and Medicare by not having to pay payroll taxes if they agree to never accept federal retirement or health care benefits. Individuals are quite capable of meeting their own unique retirement and health care needs if the government stops forcing them into one-size-fits-all plans.

Middle-class families with college-age children would benefit if government got out of the student loan business. Government involvement in higher education is the main reason tuition is skyrocketing and so many Americans are graduating with huge student loan debts. College graduates entering the job market would certainly benefit if Congress stopped imposing destructive regulations and taxes on the economy.

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Political Murders in Kiev, US Troops to Ukraine

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Posted on 20th April 2015 by Administrator in Economy |Politics |Social Issues

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undefinedLast week two prominent Ukrainian opposition figures were gunned down in broad daylight. They join as many as ten others who have been killed or committed suicide under suspicious circumstances just this year. These individuals have one important thing in common: they were either part of or friendly with the Yanukovych government, which a US-backed coup overthrew last year. They include members of the Ukrainian parliament and former chief editors of major opposition newspapers.

While some journalists here in the US have started to notice the strange series of opposition killings in Ukraine, the US government has yet to say a word.

Compare this to the US reaction when a single opposition figure was killed in Russia earlier this year. Boris Nemtsov was a member of a minor political party that was not even represented in the Russian parliament. Nevertheless the US government immediately demanded that Russia conduct a thorough investigation of his murder, suggesting the killers had a political motive.

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The New Militarism: Who Profits?

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Posted on 13th April 2015 by Administrator in Economy |Politics |Social Issues

undefinedMilitarism and military spending are everywhere on the rise, as the new Cold War propaganda seems to be paying off. The new “threats” that are being hyped bring big profits to military contractors and the network of think tanks they pay to produce pro-war propaganda.

Here are just a few examples:

The German government announced last week that it would purchase 100 more “Leopard” tanks – a 45 percent increase in the country’s inventory. Germany had greatly reduced its inventory of tanks as the end of the Cold War meant the end of any threat of a Soviet ground invasion of Europe. The German government now claims these 100 new tanks, which may cost nearly half a billion dollars, are necessary to respond to the new Russian assertiveness in the region. Never mind that Russia has neither invaded nor threatened any country in the region, much less a NATO member country.

The US Cold War-era nuclear bunker under Cheyenne Mountain, Colorado, which was all but shut down in the 25 years since the fall of the Berlin Wall, is being brought back to life. The Pentagon has committed nearly a billion dollars to upgrading the facility to its previous Cold War-level of operations. US defense contractor Raytheon will be the prime beneficiary of this contract. Raytheon is a major financial sponsor of think tanks like the Institute for the Study of War, which continuously churn out pro-war propaganda. I am sure these big contracts are a good return on that investment.

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REPEAL 1913

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Posted on 6th April 2015 by Administrator in Economy |Politics |Social Issues

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The IRS and Congress Both Hold Our Liberty in Contempt

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This week the Justice Department announced it would not charge former Internal Revenue Service (IRS) official Lois Lerner with contempt of Congress. Some members of Congress requested that Lerner be charged with contempt after she refused to testify at a congressional hearing investigating her role in denying or delaying the applications for tax-exempt status of “tea party” and pro-limited government organizations.

Cynics might suggest it is not surprising that a former government official would avoid prosecution for refusing to tell Congress about how federal employees abused their power to help the incumbent administration. These cynics have a point, but the problem goes beyond mere partisanship. Government officials are rarely prosecuted for even the most blatant violations of our liberties. In contrast, federal prosecutors routinely pursue criminal charges against whistleblowers. For example, the only American prosecuted and imprisoned in relation to the government’s use of torture was whistleblower John Kiriakou!

While some officials like Lois Lerner who find themselves at the center of a high-profile scandal or partisan dispute can expect harsh treatment from Congress, this is the expectation, not the rule. Executive branch officials usually receive deferential treatment from members of Congress. I recall one hearing on government surveillance where a representative actually apologized to a government official because Congress had the gall to ask that official to testify about the government’s ongoing surveillance of the American people.

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Repeal, Don’t Reform the IMF!

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Posted on 29th March 2015 by Administrator in Economy |Politics |Social Issues

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undefinedA responsible financial institution would not extend a new loan of between 17 and 40 billion dollars to a borrower already struggling to pay back an existing multi-billion dollar loan. Yet that is just what the International Monetary Fund (IMF) did last month when it extended a new loan to the government of Ukraine. This new loan may not make much economic sense, but propping up the existing Ukrainian government serves the foreign policy agenda of the US government.

Since the IMF receives most of its funding from the United States, it is hardly surprising that it would tailor its actions to advance the US government’s foreign policy goals. The IMF also has a history of using the funds provided to it by the American taxpayer to prop up dictatorial regimes and support unsound economic policies.

Some may claim the IMF does promote free markets by requiring that countries receiving IMF loans implement some positive economic reforms, such as reducing government spending. However, other conditions imposed by the IMF, such as that the country receiving the loan deflate its currency and implement an industrial policy promoting exports, do not seem designed to promote a true free market, much less improve the people’s living standards by giving them greater economic opportunities.

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Why Do American Weapons End Up in Our Enemies’ Hands?

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Posted on 21st March 2015 by Administrator in Economy |Politics |Social Issues

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undefinedIt happens so often you wonder whether it is due to total ineptness or a deliberate policy to undermine our efforts overseas. It’s most likely a result of corruption and unintended consequences, combined with a foreign policy that makes it impossible to determine who are our friends are and who are our enemies. One would think that so many failures in arming others to do our bidding in our effort to control an empire would awaken our leaders and the American people and prompt policy changes.

A recent headline in Mother Jones read: “US Weapons Have A Nasty Habit of Going AWOL.” The report was about $500 million worth of military equipment that is unaccounted for in Yemen. Just as in so many other places, our policy of provoking civil strife in Yemen has been a complete failure. At one time it was announced that there was a great victory in a war being won with drones assisting groups that claimed to be on our side in the Yemen Civil War. As usual, we could have expected that these weapons would end up in the hands of the militants not on the side of United States and would never be accounted for.

There are numerous examples of how our foreign intervention backfires and actually helps the enemy. Just recently a headline announced: “CIA cash sometimes refills al-Qaeda coffers.”  This was a story of our government helping pay ransom to al-Qaeda for the release an Afghan diplomat. However this was a measly $5 million so it was not considered a big deal. Another headline just recently announced that, “Iraqi army downs two UK planes carrying weapons for ISIL.” The Iraqi army is supposed to be on our side, and many people believe the UK is also on our side as well. One thing for sure the American taxpayer pays for all this nonsense.

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