Alternative News Media
Living The Grecovery Dream: Two Jobless Parents, Two Kids, One Cat All Living In A Car
This is an article of a Greek Family that is living in their car. But, it reminds us that it could be anyone of us if we suddenly have an life changing crisis. We all need help sometime in our life!
Squeezed between steering wheel, handbrake, door and dashboard, Katerina reads in her history book, takes notes for school. Next to her, on the driver's seat, cat Eddy stares right in the camera lens. It may look like a cute snapshot on a sunny day, if it wasn't for a sad detail: a withering spring stuck in a roll of toilet paper. A distinctive memory of a former normal life that turned into a grim reality for a family of four. ... Read more
The Conference Board forecasts that China's annual growth will slow to an average of 5.5% between 2015 and 2019, compared with last year's 7.7%. It will downshift further to an average of 3.9% between 2020 and 2025, according to the report.
Why Chinese Growth Forecasts Just Crashed To A Paltry 3.9% - And Are Going Even Lower - In One Chart
Up until a few years ago, conventional wisdom was that China would grow at nearly double digits as long as the eye could see. Then, however, something happened, and China's 9% growth became 8%, then 7% and even lower, as suddenly the Politburo made it quite clear China would not chase growth at any cost, especially when the cost is trillions in bad debt and other NPLs, as we have explained time and again. The collapse in Chinese growth expectations is shown best on the following formerly hockeysticking chart of IMF's revised Chinese growth projections which has completely collapsed in the past few years. ...
E-WasteBAN | Exporting Harm: The High-Tech Trashing of Asia (2013) [23:03]
Dateline | E-Waste Hell (09/25/11) [17:44]
Democracy Now! U.S. and World News Headlines for Monday, October 20 [13:04]
DN | "Women Are Being Driven Offline": Feminist Anita Sarkeesian Terrorized for Critique of Video Games (10/20/14) [20:01]
Bill MoyersBill Moyers | Pulitzer Prize-winning author Marilynne Robinson talks to Bill about what the title character of her new book Lila, says about the state of democracy in America. (10/17/14) [25:16]
Senator Elizabeth WarrenSen. Elizabeth Warren: Banking Hearing on Income Inequality (09/17/14) [10:09]
Sen. Elizabeth Warren: Sen. Warren asks Fed Chair Yellen about efforts to end TBTF (To Big To Fail) (07/15/14) [7:30]
California DroughtStunning Scenes From California's Central Valley Drought, New Yorker
*TRNN | Deepa Kumar: Culture of the National Security State, Part 5 (10/19/14) [16:54]
*TYT | Raising The Minimum Wage Would Save Billions (10/19/14) [6:43] *TYT | Military Selling Planes For Scrap Metal (10/19/14) [5:19]
TYT | Honest Politician Reveals The Worst Part Of The Job - 'We Hate It' (10/19/14) [4:06]
TYT | On Obama: Elizabeth Warren vs Howard Fineman (10/19/14) [10:23]
Chris HayesU.S. Army Col. Lawrence Wilkerson: FOX News and GOP Exploiting American's Fears (10/18/14) [7:27]
Now Comes The "Specter Of Deflation": The Money Printers' Latest Scam
The Fed's public relations firm of Hilsenrath & Blackstone was out this morning with the official line on the market's tremors of recent days. It seems that $10 trillion in freshly minted digital money at the world's major central banks over the last eight years---that is, a tripling of their balance sheets to $16 trillion--- is not enough. Not only is 2% inflation still MIA, but it now threatening to enter the dark side: Behind the spate of market turmoil lurks a worry that top policy makers thought they had beaten back a few years ago: the specter of deflation. Never mind that there is nothing close to a sustained run of negative consumer price indices anywhere in the world. ... Read more
Sorry, California. Winter Isn't Going to Fix Your Drought.
California's crippling drought is not expected to improve over the winter, according to new forecast data released today by the National Oceanic and Atmospheric Administration.
Nearly 60 percent of the state is experiencing exceptional drought--the worst category--NOAA reported. The map above shows that the northern California coast could see some improvement. But in the Central Valley, a critical source of fruits, nuts, and vegetables for the whole country, conditions won't be getting better any time soon. A little rain is expected, NOAA forecaster Mike Halpert said in a statement, but not enough to reverse the trend. ...
News at a Glance
Insiders Blame Rove for Covering Up Iraq's Real WMD
Starting in 2004, some members of the George W. Bush administration and Republican lawmakers began to find evidence of discarded chemical weapons in Iraq. But when the information was brought up with the White House, senior adviser Karl Rove told them to "let these sleeping dogs lie." ...
... According to Wurmser, "in 2005-6, Karl Rove and his team blocked public disclosure of these (findings) and said 'Let these sleeping dogs lie; we have lost that fight so better not to remind anyone of it.'" ... Read moreRate of Mass Shootings Has Tripled Since 2011, Harvard Research Shows
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Severe Solar Storm Damage Could Top $2 Trillion
According to a study by Lloyd's of London, an extreme geomagnetic storm in the near future is almost inevitable. Such a storm that could cause widespread power outages in the U.S. for one to two years might have an economic cost of more than $2 trillion.
Democracy Now! U.S. and World News Headlines for Friday, October 17 [9:10]
DN | In Tight Midterms Facing Low Turnout, Colorado's Senate Race Could Decide Who Controls Congress (10/17/14) [13:17]
Jon StewartJon Stewart | Florida's gubernatorial race heats up as Governor Rick Scott shows up late to a debate where Democratic candidate Charlie Crist is using a fan to strategically cool his balls. (10/16/14) [8:58]
*TRNN | Why are Stock Markets so Volatile? (10/17/14) [11:56]
Real serious depression pending as a result of austerity says Professor Michael Hudson, author of The Bubble and Beyond and Finance Capitalism and its Discontents.TRNN | Behind America's Store Fronts -- Drugs, Homelessness and Abandonment (10/17/14) [7:10]
In an original TRNN series, conservative residents of the working-class town of Westminster, Maryland, paint a political landscape different from that depicted in the mainstream media.TYT | Pressure Mounts To Ban Travel To Africa (10/16/14) [9:53]
TYT | Ebola Sanity Briefly Infects Fox News, Will It Spread? (10/16/14) [5:53]
TYT | Frontier Flight Crew Exposed To Ebola (10/16/14) [4:37]
TYT | Privileged White Guy Refuses Jon Stewart's Case For White Privilege (10/16/14) [7:30]
TYT | Small Fan Ruins Debate In 'Extremely Peculiar' Moment (10/16/14) [7:02]
Climate "Winter" OutlookClick to zoom - for bigger image
More NewsBill Nye the Science Guy's Take on GMO Foods (10/16/14) [7:57]
PBS | Separating legitimate Ebola concerns from unnecessary fear (10/17/14) [7:32]
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Chomsky: Business Elites Are Waging a Brutal Class War in America
Journalist Matt Taibbi has suggested that the government is afraid to prosecute powerful bankers, referring to "an arrestable class and an unarrestable class." What is your view on the current state of class war in the U.S.?
Well, there's always a class war going on. The United States, to an unusual extent, is a business-run society, more so than others. The business classes are very class-conscious--they're constantly fighting a bitter class war to improve their power and diminish opposition. Occasionally this is recognized. We don't use the term "working class" here because it's a taboo term. You're supposed to say "middle class," because it helps diminish the understanding that there's a class war going on. ... Read more
Prepare For Epic Volatility: E-mini Liquidity Is Nonexistant
If you thought the last several days were volatile in the market, you ain't seen nothing yet: judging by the early liquidity, or rather complete lack thereof, in the market moving E-Mini contract, the asset class through which as we disclosed a month ago central banks directly manipulate markets with the CME's blessing, then we urge all those who have stop losses close to the NBBO to quietly pull those as they will get hit adversely. The reason? As this Nanex chart of ES orderbook levels show, there is zero, zilch, nada liquidity in the ES (purple line, compare to orange yesterday). ...
Major News for Today
How Laissez-Faire Economics Led to Inequality and Recession
Remember in 2009 when everyone was dodging blame for the financial crisis? Depending on who you asked, it was the bankers, the federal regulators, Fannie Mae, fraudster mortgage companies, the ratings agencies and the sub-prime borrowers themselves. The favorite claim of excuse makers was that no single group was to blame -- it was a cluster-f*** as one journalist friend put it.
If everyone did it, no one could be held accountable. But it wasn't true. Bankers and regulators were the major creators of the crisis, for their neglect and single-minded self-aggrandizement that often involved bending the rules. ... Read more
The Thirteen Factories was an area of Guangzhou (Canton), China, where the first foreign trade was allowed in the 18th century since the hai jin (??) ban on maritime activities. It is also referred to as the "Thirteen Hongs" or the "Canton Factories". The site where the factories stood is now Wenhua Park, and Thirteen Hong Street, onto which the factories backed is now named Shisanhang Road.
Factories were "foreigners quarters", or trading posts, outside the city walls in Guangzhou rather than a place in the contemporary sense where are manufactured goods. The name came from the foreign agent term of "factors", who maintained offices or factories. Chinese citizens often referred to the factories as "Barbarian Houses". ... Read more
Democracy Now! U.S. and World News Headlines for Thursday, October 16 [9:54]
*DN | A U.S. Nurse Witnesses Ebola's Ravages in Sierra Leone, Where Horrific Conditions Claim Lives Daily (10/16/14) [16:22],
Part 2 [11:42]
DN | A Little Shout of Joy: Supreme Court Lets Abortion Clinics Reopen, Easing Crisis of Access in Texas (10/16/14) [4:54]
Jon Stewart - Daily NewsJon Stewart | Jon Stewart Tries To Make Bill O'Reilly Admit White Privilege Exists. And Fails. (10/16/14) [8:01] *Jon Stewart | Just Try Not to Say Something Stupid for 90 Minutes (10/16/14) [7:46]
*TRNN | Phyllis Bennis: U.S. Will Fail In Attempt to Create Proxy Army in Syria (10/16/14) [14:03]
*TRNN | Deepa Kumar: The Islamophobia of "Homeland", Part 4 (10/16/14) [21:22]
Dr. Kumar tells Paul Jay that Muslim characters on Homeland are either terrorists, sympathizers of terrorists, or "good Muslims" which means pro-US.
TRNN | Deepa Kumar: Islamophobia and the Politics of Empire, Part 3 (10/15/14) [20:21]TRNN | researcher Tamara Lorincz: Emissions Reduction Impossible Without Demilitarizing Foreign Policy (10/16/14) [13:42]
TRNN | Deepa Kumar: Fighting the Demonization of Muslims, Part 2 (10/14/14) [15:26]
TRNN | Ms. Deepa Kumar: Islamophobia and a Challenge to Bill Maher, Part 1 (10/10/14) [20:57]
The Pentagon's new climate change policy does not address the military's contribution to climate change, says researcher Tamara Lorincz.*TYT | Allowed To Bring Guns To Speeches You Disagree With (10/15/14) [5:38]
TYT | Media Completely Failing America On Ebola In Shocking New Study (10/15/14) [4:36]
*TYT | C.I.A. A Disaster Factory For Decades Yet Here We Go Again (10/15/14) [5:59]
TYT | 2nd Ebola Case In United States Raises Grim Questions (10/15/14) [8:36]
James Risen Challenges the Greed, Power, and Endless War of the National Security State
No single review or interview can do justice to "Pay Any Price" -- the new book by James Risen that is the antithesis of what routinely passes for journalism about the "war on terror." Instead of evasive tunnel vision, the book offers big-picture acuity: focusing on realities that are pervasive and vastly destructive.
Published this week, "Pay Any Price" throws down an urgent gauntlet. We should pick it up. After 13 years of militarized zealotry and fear-mongering in the name of fighting terrorism, the book -- subtitled "Greed, Power, and Endless War" -- zeros in on immense horrors being perpetrated in the name of national security.Here are a few quotes from the book:
Republican Right Embraces Its Long, Hypocritical Tradition of Pandering to Fear
They're back. Like the fourth sequel to a bad horror movie, the Republican Right has once again chosen to embrace its long ignoble, hypocritical tradition of pandering to -- and stoking -- fear.
As the election nears, their ads are filled with images of ISIL terrorists, Ebola viruses, Secret Service breaches, and "porous" borders through which knife-wielding Muslim extremists are surely infiltrating every corner of our society. It's not just disgusting. It's also hypocritical. The fact is that the Republicans have an abysmal record when it comes to defending the security of ordinary Americans.
But this is nothing new. Right-wing demagogues have perfected their techniques for appealing to our darkest fears for decades. It's embedded in their DNA. ... Read more
Another Ebola Case In Dallas
New York Times Reporter James Risen Finds 'Crazy Is The New Normal' In War On Terror
New York Times reporter James Risen was surprised Sunday when former National Security Agency chief Michael Hayden said he doesn't see a need for the government to prosecute Risen for refusing to reveal a source. "I'm glad to see he feels that way these days," Risen said in an interview Monday with The Huffington Post. "I'm not sure how long he's felt that way."
... Risen was one of a the few reporters to seriously scrutinize the Bush administration's case for war in Iraq, even as his own paper downplayed that skeptical coverage. The next year, Hayden and the Bush White House successfully pressured the Times not to publish Risen and colleague Eric Lichtblau's blockbuster report on the NSA's warrantless wiretapping program. The Pulitzer Prize-winning story finally appeared on the front page in late 2005, just weeks before Risen planned to reveal it in a chapter of his book, State of War. ... Read more
Your Thoughts on Tiny Houses
Last week, BillMoyers.com published a report on micro-houses (or, more popularly, "tiny houses"). These ultra-compact homes of 1,000 square feet or less are appealing to those who want to make their lives more sustainable, and, increasingly, are being looked at by some as a model for affordable housing.
Many in our audience had lived in a micro-house. "I lived in a 920-square-foot passive solar house and was very happy. My heating bill for the entire winter: $98," said Gordon Billingsley. And even though our BillMoyers.com piece looked at micro-homes for individuals, some of our audience said that they work for families, too. ... Read more
Democracy Now! U.S. and World News Headlines for Wednesday, October 15 [12:34]
DN | As Second Dallas Nurse Diagnosed with Ebola, Are U.S. Hospitals Failing Healthcare Workers? (10/15/14) [14:59]
*DN | Infected Workers, Slow Deployment, No Vaccines: Ebola Response Shows Pitfalls of Privatized Health (10/15/14) [16:12]
DN | Mexico's Missing Students: Were 43 Attacked by Cartel-Linked Police Targeted for Their Activism? (10/15/14) [10:33]
The Great Pacific Garbage Patch -- a collection of debris in the North Pacific ocean -- is one of five major garbage patches drifting in the oceans.
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*TRNN | Sen. Bob Graham: Revealing the 9/11 Conspiracy Would Undo the Entire US-Saudi Alliance, Part 2 (10/14/14) [16:24]
*TRNN | Deepa Kumar: Islamophobia and the Politics of Empire (10/15/14) [20:21]
*TYT | Meet The Ultra-Rich Koch Donors Who Not-So-Secretly Run Things (10/14/14) [19:28]
TYT | Fox News Hides The Ugly, Honest Reason America Has No Surgeon General (10/14/14) [3:36]
TYT | Untouchable Rich Iranian Kids Flaunt Riches On Social Media (10/14/14) [5:53]
Islamic State of Iraq and the LevantWikipedia | author | current
The group originated as Jama'at al-Tawhid wal-Jihad in 1999. This group was the forerunner of Tanzim Qaidat al-Jihad fi Bilad al-Rafidayn--commonly known as al-Qaeda in Iraq (AQI). It took part in the Iraqi insurgency against US-led forces and their Iraqi allies following the 2003 invasion of Iraq and joined other Sunni insurgent groups to form the Mujahideen Shura Council, which consolidated further into the Islamic State of Iraq (ISI) shortly afterwards. At its height, it enjoyed a significant presence in Al Anbar, Nineveh, Kirkuk, and other areas, but around 2008 its violent methods led to a backlash against it and temporary decline.
In April 2013, the group changed its name to the Islamic State of Iraq and Syria. It grew significantly under the leadership of Abu Bakr al-Baghdadi, gaining support in Iraq as a result of perceived economic and political discrimination against Iraqi Sunnis. ... Read more
WHO: New Ebola Cases Could Be Up To 10,000 Per Week In 2 Months
The death rate in the Ebola outbreak has risen to 70 percent and there could be up to 10,000 new cases a week in two months, the World Health Organization warned Tuesday. WHO assistant director-general Dr. Bruce Aylward gave the grim figures during a news conference in Geneva. Previously, WHO had estimated the death rate at around 50 percent.
... For the last four weeks, there's been about 1,000 new cases per week -- including suspected, confirmed and probable cases, he said, adding that the U.N. health agency is aiming to get 70 percent of cases isolated within two months to reverse the outbreak. ... Read more
All That Is Broken With The US Financial System In One Chart
As the blue bar shows, total loans issued by the biggest US bank were $743 billion in Q3 2014: about $20 billion less than in the quarter Lehman blew up. Four years later, and the US commercial bank lending apparatus is still in a state of depression. Or so it would appear on the books.But why doesn't JPM lend out more: after all that is the main pathway to stimulate the economy as all pundits will tell us. Simple: it doesn't need to. As the red bars show, total consumer deposits held by the bank just rose once more, this time to a record $1,335 billion, up $15 billion in the quarter, pushing the deposit-over-loan difference to a new record $591 billion. This is happening exclusively due to the Fed, which when banks do not "create" money from loans (as they clearly don't), has to step in with QE and create money on its own. ... Read more
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Mortgage Application Pipeline At America's Largest Mortgage Lender Drops To Lowest Since Lehman
US housing picture is once again the worst it has ever been (excluding those days around the Lehman bankruptcy when all of finance died for a few weeks).
In short: the only people buying houses in the US now are foreigners laundering their illegal, tax-exempt profits (ever fewer) and those as close to the Fed's ZIRP as possible, and, of course, paying all cash. Everyone else: not so much.
The Fed Is About To Pull The QE Plug... And This Happens
Moments ago, the Fed concluded its latest $931MM POMO, with just 6 more POMOs left ever (at least until another QE program is unveiled), and judging by the last week's performance, the market has finally figured this out. And Goldman, which has been pounding the table on shorting the 10 Year for about a year now, and in the process crucifying even more muppets, has some bad news for TSY shorts: global growth is crashing. ...
Democracy Now! U.S. and World News Headlines for Tuesday, October 14 [13:41]
*DN | James Risen Prepared to "Pay Any Price" to Report on War on Terror Amid Crackdown on Whistleblowers (10/14/14) [11:08],
Part 2 [4:39]
State of War by James Risen
John OliverWarren G Harding Love Letters (10/12/14) [3:11]
John Oliver: Pumpkins Spice (10/12/14) [3:11]
Jon Stewart - Daily Show*Jon Stewart | Former AIG Chairman and CEO Hank Greenberg sues the U.S. government, claiming that the terms of the company's $184 billion bailout were insufficient and unfair. (10/09/14) [9:58]
Jon Stewart | Jeremy Renner discusses the career of journalist Gary Webb, which served as the basis for his film "Kill the Messenger." (10/09/14) [5:15] *Jon Stewart | Former Secretary of Defense and CIA Director Leon Panetta discusses the need for Congress and President Barack Obama to work together to address the threat of ISIS. (10/08/14) [8:19], Part 2 [10:47]
*TRNN | Deepa Kumar: Fighting the Demonization of Muslims, Part 2 (10/14/14) [15:26]
TRNN | How Socialist China Became the Workshop of the World (10/13/14) [8:25]
TRNN | Privatization, Occupation, and the Israeli Economy (10/13/14) [13:29]
TYT | Republicans To Blame For No Ebola Vaccine? (10/14/14) [2:56] *TYT | Professor Reza Aslan On Sam Harris (10/14/14) [4:00], Part 2 [4:10]
TYT | How Budget Cuts Cost Us An Ebola Vaccine (10/14/14) [5:11]
TYT | New Texas Ebola Case, Is It Time To Panic? (10/14/14) [5:00]
Ring of FireRing of Fire | Ring of Fire (10/12/14) [57:00]
Will The Fed Let The Stock Market Crash Before An Election?
... Let's set aside sentiment measures and technical analysis and ask a larger question: will the Fed let the stock market crash before an election? Once again we find two camps among participants. 1) One camp believes markets still obey the basic rules of technical analysis. The Fed and other central banks may intervene at the margins, but their interventions only work on low-volume days. When selling increases, it overwhelms the relatively modest size of central bank intervention and the market then crash. 2) The other camp holds that all markets are now engineered, and intervention can reach essentially unlimited levels if the Powers That Be deem that necessary.
For context, let's recall that the Fed conjured up $16 trillion to backstop global banks in the Global Financial Meltdown; (the Levy Institute came up with $29 trillion after poring over all the data). To put $16 trillion in context, note that entire gross domestic product (GDP) of the U.S. is about $17.3 trillion, and all residential mortgages in the U.S. total about $10 trillion. ...
Where prior to 2008 the Fed and other central state players might have viewed $10 billion as a major intervention, what do you think whatever it takes is now? Do you really think $1 trillion would give those in charge pause? Since we're talking about propping up a $160+ trillion edifice ($80 trillion of assets in the U.S. alone), what's a trillion or two between pals?
Key Figures In CIA-Crack Cocaine Scandal Begin To Come Forward
... More than 18 years have passed since Pulitzer Prize-winning journalist Gary Webb stunned the world with his "Dark Alliance" newspaper series investigating the connections between the CIA, a crack cocaine explosion in the predominantly African-American neighborhoods of South Los Angeles, and the Nicaraguan Contra fighters -- scandalous implications that outraged LA's black community, severely damaged the intelligence agency's reputation and launched a number of federal investigations. ...
... Now, Webb's bombshell expose is being explored anew in a documentary, "Freeway: Crack in the System," directed by Marc Levin, which tells the story of "Freeway" Rick Ross, who created a crack empire in LA during the 1980s and is a key figure in Webb's "Dark Alliance" narrative. The documentary is being released after the major motion picture "Kill The Messenger," which features Jeremy Renner in the role of Webb and hits theaters on Friday. ... Read more
Texas Health Worker Tests Positive For Ebola
Ebola Themed Halloween Costumes.Still working on this.
*TRNN | After revelations show that the Obama administration uses reporters' FOIA requests as a tip service, did the mainstream media create a monster that they can't tame? (10/13/14) [9:59]
TYT | Obama's Weakness Explained (10/12/14) [4:13]
TYT | ISIS Pushes Right Up To Turkish Border (10/12/14) [4:54]
TYT | DON'T Joke About Ebola When On A Plane (10/11/14) [4:30]
TYT | Is Sam Harris As Dangerous As Sarah Palin? (10/11/14) [19:41]
"Whether you think him a truth-teller or a bigot, Bill Maher deserves credit for launching one of the most robust public cultural/intellectual debates in recent memory. Two weeks ago today, he said on HBO that "a vast number of Muslims across the world" believe people who do not share their religious beliefs "deserve to die." He also suggested that the Islamic State, or ISIL, was not an abberation of Islam, but a reflection of it.TYT | Nobel Peace Prize Awarded To Malala Yousafzai And Kailash Satyarthi (10/11/14) [6:32]
Those remarks sparked a heated debate three days later on CNN, when hosts Don Lemon and Alisyn Camerota pressed the religious scholar Reza Aslan to defend Islam against the charge that it was inherently violent. Aslan argued that the CNN hosts were cherry-picking examples and making broad sweeping general claims about Islam that were false. "We are using two or three examples to justify a generalization," he said. "That's actually the definition of bigotry."
Four days later, Maher returned to his program with Sam Harris, the religious critic, and the two got into a shouting match with actor Ben Affleck and New York Times columnist Nicholas Kristof over whether violence, intolerance, subjugation of women, etc. were inherent to Islam. Midway through the debate, Harris said "Islam at the moment is the motherlode of bad ideas." Maher concurred: "That's just a fact." Affleck, visibly repulsed and stupefied, only sighed: "Jesus Christ"
TYT | Meet Little Moe, The Ebola Killing Robot. (10/12/14) [2:02]
Still working on this.
Key Figures In CIA-Crack Cocaine Scandal Begin To Come Forward
With the public in the U.S. and Latin America becoming increasingly skeptical of the war on drugs, key figures in a scandal that once rocked the Central Intelligence Agency are coming forward to tell their stories in a new documentary and in a series of interviews with The Huffington Post.
More than 18 years have passed since Pulitzer Prize-winning journalist Gary Webb stunned the world with his "Dark Alliance" newspaper series investigating the connections between the CIA, a crack cocaine explosion in the predominantly African-American neighborhoods of South Los Angeles, and the Nicaraguan Contra fighters -- scandalous implications that outraged LA's black community, severely damaged the intelligence agency's reputation and launched a number of federal investigations.
It did not end well for Webb, however. Major media, led by The New York Times, Washington Post and Los Angeles Times, worked to discredit his story. Under intense pressure, Webb's top editor abandoned him. Webb was drummed out of journalism. One LA Times reporter recently apologized for his leading role in the assault on Webb, but it came too late. Webb died in 2004 from an apparent suicide. Obituaries referred to his investigation as "discredited."
Now, Webb's bombshell expose is being explored anew in a documentary, "Freeway: Crack in the System," directed by Marc Levin, which tells the story of "Freeway" Rick Ross, who created a crack empire in LA during the 1980s and is a key figure in Webb's "Dark Alliance" narrative. The documentary is being released a week after the major motion picture "Kill The Messenger," which features Jeremy Renner in the role of Webb and hits theaters on Friday. ... Read more
"Financial Markets Are Artificially Priced: What Do You Do?" - Bill Gross' First Janus Capital Letter
Financial markets are artificially priced.... We have had our Biblical seven years of fat. We must look forward, almost by mathematical necessity, to seven figurative years of leaner: Bonds -- 3% to 4% at best, stocks -- 5% to 6% on the outside. That may not be enough for your retirement or your kid's college education. It certainly isn't for many private and public pension funds that still have a fairy tale belief in an average 7% to 8% return for the next 10 to 20 years! ... Read more
Remember back when you held that median American nest-egg of $81,200? The average member of the Forbes 400 holds a fortune over 70,000 times that size.
America's Ridiculously Rich: the 2014 Edition
... And the richest of these 400 hold far more than that average. Take Larry Ellison, the third-ranking deep pocket on this year's Forbes list. Ellison just stepped down as the CEO of the Oracle business software colossus. His net worth: $50 billion.
What does Ellison do with all those billions? He collects homes and estates, for starters, with 15 or so scattered all around the world. Ellison likes yachts, too. He currently has two extremely big ones, each over half as long as a football field.
Ellison also likes to play basketball, even on his yachts. If a ball bounces over the railing, no problem. Ellison has a powerboat following his yacht, the Wall Street Journal noted this past spring, "to retrieve balls that go overboard."
Hiring that ball-retriever qualifies Ellison as a "job creator," right? Maybe not. Ellison has regularly destroyed jobs on his way to grand fortune. He has become, over the years, a master of the merge-and-purge two-step: First you snatch your rival's customers, then you fire its workers.
In 2005, for instance, Ellison shelled out $10.6 billion to buy out PeopleSoft, an 11,000-employee competitor. He then proceeded to put the ax to 5,000 jobs .
Five years later, Ellison bought out Sun Microsystems and indignantly denied that any "massive layoff" would be in the offing. Five months later, Ellison's Oracle quietly acknowledged a major downsizing in an official federal regulatory filing.
Job massacres like these have been hollowing out America's middle class ... Read more
Princess Juliana International Airport, St. Maarten
Maho Beach is located in St Maarten, and famous for the Princess Juliana International Airport adjacent to the it. Arriving aircraft must touch down as close as possible to the beginning of Runway 10 resulting in aircraft flying over the beach at minimal altitude.
Democracy Now! U.S. and World News Headlines for Friday, October 10 [9:16]
*DN | Pakistani Education Activist Malala Yousafzai Becomes Youngest Winner of Nobel Peace Prize (10/10/14) [11:19]
DN | Ferguson October: Activists Call for Nationwide Convergence to Demand Justice for Michael Brown (10/10/14) [21:04]
*DN | Jeremy Scahill on Obama's Orwellian War in Iraq: We Created the Very Threat We Claim to be Fighting (repeat 10/03/14) [17:49] *TRNN | Ms. Deepa Kumar: Islamophobia and a Challenge to Bill Maher (10/10/14) [20:57]
TRNN | Baltimore Sun journalist Mark Puente discusses his investigation into police brutality cases that have cost the city $5.7 million (10/10/14) [14:30]
TYT | Fox News vs Harvard On ISIS Turns Into Embarrassing Ignorance Fest (10/09/14) [5:02]
TYT | Would Hosting Meet The Press Ruin Jon Stewart? (10/09/14) [6:46]
TYT | All Muslims Are Violent Radicals Like The Nazis, Insists Politician (10/09/14) [9:26]
*TYT | Immense Lie About ISIS Spreads Fear, Confusion & The Republican Message (10/09/14) [7:03]
TYT | Anti-Muslim Bias Goes WAY Beyond Bill Maher & Sam Harris (10/09/14) [12:25]
Ring of FireRing of Fire | The Death of Critical Thinking In America (10/09/14) [9:33]
Drugs | Betrailal | Gary WebbFreeway: Crack In The System Official Trailer - Marc Levin CIA Contra Documentary (trailer) (2014) 
Connections between Freeway Ricky Ross, the Bush Administration, and the crack cocaine epidemic () [26:31]
The drug kingpin Freeway Ricky Ross became known as The Wal-Mart of Crack in Los Angeles during the 1980s by becoming the largest supplier of drugs in the area, without his initially knowing that his source of drugs was a CIA agent connected to the Iran-Contra scandal associated with George Bush and Ronald Reagan.
This compilation of video clips from the documentary film The American Drug War: The Last White Hope details the circumstances of the connections between Ricky Ross and the CIA, showing how the connection was publicly exposed in the media and then largely forgotten by the public while CIA drug trafficking continues.
Freeway Ricky Ross interview: 'Bush, Reagan let drugs flow free to US from Nicaragua' (01/15/11) [11:07]Kill the Messenger Official Trailer #1 - Jeremy Renner Crime (trailer) (2014) [2:18]
Joe Rogan Podcast #262 - Freeway Rick Ross (09/07/12) [2:32:40]
*DN | "Kill the Messenger" Resurrects Gary Webb, Journalist Maligned for Exposing CIA Ties to Crack Trade (10/09/14) [5:24]
Terrorist | Collateral Damage | and IraqBookTV | Why Did the Iraq War Start? The Untold Story - Seymour Hersh (2005) [1:22:50]
Leading To War () [1:12:16]
Untold History of United States by Oliver Stone - Bush & Obama: Age of Terror (2013) [58:39]
Want To Score High On The SAT? Pick Rich Parents
While money (reportedly) can't buy love, it appears, according to The WSJ, that it can buy brains.On average, based on calculations from FairTest, students in 2014 in every income bracket outscored students in a lower bracket on every section of the test. Rather stunningly, students from the wealthiest families outscored those from the poorest by just shy of 400 points. As WSJ's Josh Zumbrun so poetically notes, perhaps SAT should more appropriately stand for Student Affluence Test. ...
Are Tiny Houses a Viable Affordable Housing Solution?
Last month's well attended climate march in New York City showed that we are finally recognizing the harmful effects of our fossil-fuel driven economy on the planet. Some Americans looking to shrink their carbon footprint are doing so by shrinking their homes, opting to live in ultra-compact houses, often referred to as "tiny houses."
Increasingly, these small homes are also being considered as models for affordable housing that could serve as a place for the homeless to find some stability and, perhaps, live permanently. In such varied locations as Portland, Oregon, upstate New York, Austin, Texas and Madison, Wisconsin, local advocates for the homeless have constructed communities of tiny houses. ...
Collage of Tiny and not so Tiny houses. Fun to watch to see what different people are accomplishing.Awesome Micro Houses on Wheels Tiny Homes (04/11/14) [8:30]
Key Democrats, Led By Hillary Clinton, Leave No Doubt That Endless War Is Official U.S. Doctrine
Long before Americans were introduced to the new 9/11 era super-villains called ISIS and Khorasan, senior Obama officials were openly and explicitly stating that America's "war on terror," already 12 years old, would last at least another decade. At first, they injected these decrees only anonymously; in late 2012, The Washington Post - disclosing the administration's secret creation of a "disposition matrix" to decide who should be killed, imprisoned without charges, or otherwise "disposed" of - reported these remarkable facts.
... In May, 2013, the Senate Armed Services Committee held a hearing on whether it should revise the 2001 Authorization to Use Military Force (AUMF). A committee member asked a senior Pentagon official, Assistant Secretary Michael Sheehan, how long the war on terror would last; his reply: "At least 10 to 20 years." At least. A Pentagon spokesperson confirmed afterward "that Sheehan meant the conflict is likely to last 10 to 20 more years from today -- atop the 12 years that the conflict has already lasted." As Spencer Ackerman put it: "Welcome to America's Thirty Years War," one which -- by the Obama administration's own reasoning -- has "no geographic limit." ... Read more
Airstrikes are big business for defense companies
Airstrikes against ISIS in Iraq and Syria have served as launching point for far more than missiles. Those military decisions cost the U.S. millions of dollars a day, and defense contractors pocket much of that money. (Video via U.S. Navy)
Bloomberg reports in mid-September just ahead of airstrikes in Syria, defense firms Lockheed Martin, Northrop, Raytheon and General Dynamics Corporation all set stock price records. ...
Woman Explains Why She Will End Her Life on November 1
Brittany Maynard and her husband were on their honeymoon when she started to get severe headaches. By January 2014, she found out she had a type of brain cancer called glioblastoma multiforme and was told she had ten years to live. A few weeks later, however, doctors uncovered the cancer was at stage 4, and she would only have six months to live. ...
Democracy Now! U.S. and World News Headlines for Thursday, October 09 [8:31]
*DN | U.S. Faces "Massive Military Failure" as ISIS Advances on Syrian Border Town of Kobani (10/09/14) [11:26]
*DN | Iraqi Journalist Who Embedded with Shia Militias on Fighting ISIS & Why US Strategy is Bound to Fail (10/09/14) [14:28]
*DN | "Kill the Messenger" Resurrects Gary Webb, Journalist Maligned for Exposing CIA Ties to Crack Trade (10/09/14) [5:24]
*Bill Moyers | Restoring an America That Has Lost Its Way (10/09/14) [25:23]
Nature Is Speaking --*TRNN | Rob Johnson comments: Concentration of Wealth in China Keeps Wages Low (10/09/14) [12:13]
Julia Roberts is Mother Nature [1:58]
Harrison Ford is The Ocean [1:58]
Kevin Spacey is The Rainforest [1:58]
Penélope Cruz is Water [1:58]
Edward Norton is The Soil [1:58]
Robert Redford is The Redwood [1:58]
TRNN | Prof. Rashid Sumaila, Fisheries Centre, Univ. of B.C. says ocean temperatures occurring at a much faster rate than scientists had previously predicted (10/09/14) [14:24]
*TYT | This Holy Book Is Full Of Appalling Violence (10/09/14) [8:42]
TYT | Endless War Is Here To Stay - Thanks Obama! (10/09/14) [11:10]
TYT | Doomed Incumbent Senator Rallies His Lobbyist Base (10/09/14) [7:28]
Ring of Fire*Ring of Fire | The Corporate Death Grip on America (08/13/14) [3:15]
Ring of Fire (full) (10/05/14) [57:00]
Restoring an America That Has Lost its Way
Three years ago, reporter and former New York Times columnist Bob Herbert took to the road and traveled across the United States, chronicling in his new book, Losing Our Way, the stories of brave, hard-working men and women battered by the economic downturn. He found an America in which jobs have disappeared, infrastructure is falling apart and the "virtuous cycle" of well-paid workers spending their wages to power the economy has been broken by greed and the gap between the very rich and everyone else.
He tells Bill: "[W]e've established a power structure in which the great corporations and the big banks have allied themselves with the national government and, in many cases, local government to pursue corporate interests and financial interests as opposed to those things that would be in the best interests of ordinary working people… Once you do that, you lose the dynamic that America is supposed to be. It's supposed to be an egalitarian society, a society of rising standards of living, a society of a vast and thriving middle class. And we are getting farther and farther away from that ideal."
As for solutions, Herbert says, "People need to start voting against the excessive power of the great moneyed interests. But more than that, we need a movement, a grass-roots movement that will fight for the interests of ordinary men and women…" Read more
America's First Ebola Patient, Thomas Eric Duncan, Has Died
End Of The Empire
If the top 1/100th of 1% crowding airports with their private jets isn't afraid of impoverished, disenchanted debt-serfs with pitchforks, they should be.
By End of the Empire I refer not to the collapse of American Imperial power but to the excesses and anxieties that characterize the decay of Empire. I have covered the dynamics of Imperial decay before: How Empires Fall (April 17, 2013): The imperial tree falls not because the challenges are too great but because the core of the tree has been weakened by the gradual loss of surplus, purpose, institutional effectiveness, intellectual vigor and productive investment.
... The top 1/10th of 1% has never been wealthier, the top 1% has never been wealthier, the top 5% have never been wealthier, and the top 10% have never been wealthier. People wonder why they're "poor" despite earning $250,000 a year, and yet they seem unaware of where their earnings go because they're entitled to all the goodies: by golly, we worked hard and we deserve it. ... Read more
U.S. Orders Agents To Monitor Travelers For Ebola
The government plans to begin taking the temperatures of travelers from West Africa arriving at five U.S. airports as part of a stepped-up response to the Ebola epidemic.
At the White House, spokesman Josh Earnest said an additional layer of screening would begin at New York's JFK International and the international airports in Newark, Washington Dulles, Chicago and Atlanta. He did not give many details, but another official said separately that the new steps would include taking temperatures and would begin Saturday at JFK. ... Read morePhotos From Ebola Ground Zero In Liberia by John Moore
Inside the Bizarre Right-Wing Panic over Ebola Virus Coming to the US
Of all the issues that you would think would by non-partisan, ebola should be at the top of the list. The disease is just a mindless germ that doesn't check your race, gender, social class, sexual orientation or party identification before it strikes, suggesting both liberals and conservatives have a stake in treating people exposed to the disease with compassion and care. And yet, to flip on Fox News or turn on any conservative media at all, you'd think that ebola was some kind of plague designed by the Democratic party in order to wipe out Republicans.
Blowing the threat of ebola out of proportion and trying to link it to Obama has been a constant theme on the right in recent days. Elisabeth Hasselbeck of Fox News literally demanded that we put the country on lockdown, banning all travel in and out. In a bit of race-baiting, Andrea Tantaros of Fox suggested that people who travel to the country and show symptoms of ebola will "seek treatment from a witch doctor" instead of go to the hospital. Fox host Steve Doocy suggested the CDC is lying about ebola because they're "part of the administration". Fox also promoted a conspiracy theorist who is trying to claim the CDC is lying when they caution people not to panic. ... Read more
Democracy Now! U.S. and World News Headlines for Wednesday, October 08 [11:42]
DN | Bad Policy, Bad Medicine: Anti-Choice Law Leaves Vast Swaths of Texas with No Abortion Provider (10/08/14) [19:01]
DN | Migrant Women, Children Allege Harsh Conditions, Sexual Assault at For-Profit Texas Immigration Jail (10/08/14) [17:53]
Bill Moyers | Restoring an America That Has Lost its Way (preview) (10/07/14) [0:29]
Three years ago, reporter and former New York Times columnist Bob Herbert took to the road and traveled across the United States, chronicling in his new book, Losing Our Way, the stories of brave, hard-working men and women battered by the economic downturn. He found an America in which jobs have disappeared, infrastructure is falling apart and the "virtuous cycle" of well-paid workers spending their wages to power the economy has been broken by greed and the gap between the very rich and everyone else.*TRNN | Rob Johnson comments: Top 400 US Billionaires' Wealth Equals Brazil's GDP (10/08/14) [18:16]
Rob Johnson comments on the Forbes report that top 400 billionaires own 2.29 trillion dollars of wealth, up 270 billion over last year.*TRNN | Journalist Patrick Cockburn says: Fall of Kobani Reveals Failure of U.S. Bombing Campaign (10/08/14) [10:20]
Journalist Patrick Cockburn says U.S.-led airstrikes have not degraded or destroyed the Islamic State (IS), who now control about a quarter of Iraq.
Jon OliverHBO | Last Week Tonight with John Oliver: Civil Forfeiture (10/05/14) [16:29]
Jon StewartJon Stewart Reacts To Narendra Modi Visit To USA - America's Top Modi (09/30/14) [3:38]
TYT | Bill Maher Finds Friends In Big Bigotry Following Ben Affleck Blow Up (10/07/14) [13:15] TYT | Insane Villainous Threats Are An ISIS Trademark (10/07/14) [7:09]
*TYT | The Truth About Muslims Is The Same Truth About Your Family (10/07/14) [7:11]
TYT | Illinois Teen Headed For ISIS If It Weren't For One Critical Mistake (10/07/14) [4:17]
TYT | Republicans Lose Their Boner For Gay Marriage (10/07/14) [7:08]
TYT | John Stossel Being Sexist And He's Kinda Right (10/07/14) [5:05]
As I construct My News Pages I constantly run across a lot of NEW videos, and since I find YouTube frustrating trying to re-find videos, I save the links in this section so I can find them again.
At 78, Former Executive Still Flips Burgers for $7.98
"Yes, I am the burger man,''
A year ago, Bloomberg News profiled Palome's odyssey through the working world of older Americans who haven't saved enough to retire comfortably. When the story hit, "I had 15 hours of fame" that included paid speaking and consulting gigs, Palome said. Then the thrill wore off and Palome was back to his regular work life and the financial pressure of limited savings.
Following Bloomberg's story, published in September 2013 and reprinted by newspapers and websites including The Washington Post and Yahoo! Finance, strangers stopped Palome in the street, asking, "Aren't you the burger man?" ("Yes, I am the burger man,'' Palome would respond with pride.) Many others tracked him down at work to shake his hand just to "make sure I really existed," he said. ... Read more
US Hiring Plummets Most Since June 2010, Fewest Hires Since Polar Vortex Ground Economy To A Halt.
The World's Most Powerful Central Banker: Janet Who?
While world financial markets hang on her every word, Federal Reserve Chair Janet Yellen isn't making much of an impression yet on ordinary Americans.
Just 24 percent of respondents correctly identified Janet Yellen as the chair of the U.S. central bank in a survey by the Pew Research Center in Washington. Seventeen percent believed Alan Greenspan, who resigned in 2006, still holds the job. ... Read more
Joe Biden Apologizes For Telling the Truth About ISIS
Speaking at the John F. Kennedy School of Government, Mr. Biden said allies including Turkey, Qatar and the United Arab Emirates had extended unconditional financial and logistical support to Sunni fighters trying to oust the Syrian government of President Bashar al-Assad.
... "Our allies poured hundreds of millions of dollars and tens of thousands of tons of weapons into anyone who would fight against al-Assad," he said, including jihadists planning to join the Nusra Front and Al Qaeda. ...
Spain Warns "Something Went Wrong" As Suspected Ebola Cases Rise In Madrid
Despite being described by Spain's public health director as "a national jewel," the head of Spain's Nursing Council warns "something went wrong" in the health care system's protocols.
Spanish health officials have 4 patients interned including infected initial nurse, her husband, and a 2nd nurse (male). Furthermore, 22 more possible Ebola cases are under surveillance having had direct contact with the infected nurse during her vacation after being infected (officials have said they 'don't know' how she became infected with the deadly virus). ... Read moreClick to zoom - for bigger image
Democracy Now! U.S. and World News Headlines for Tuesday, October 07 [12:39]
*DN | Dr. Atul Gawande: Ebola is "Eminently Stoppable," But Global Response Has Been "Pathetic" (10/07/14) [13:52]
DN | Being Mortal: Dr. Atul Gawande on How U.S. Healthcare Fails to Handle the End of Life (10/07/14) [5:55]
*TRNN | Col. Larry Wilkerson: Republicans Poised to Win the Senate by Narrow Margin (10/07/14) [11:09]
Col. Larry Wilkerson: We can expect corruption, massive misrepresentation, and disequilibrium of wealth.TRNN | Peter Lee, Journalist: Hong Kong Protests Carefully Crafted, Not Spontaneous (10/07/14) [13:09]
Tiananmen analogies are a barrier to understanding what's really going on in Hong Kong says Peter Lee, Journalist for the Asia Times On-Line.*TRNN | Natural Gas is No Solution for Reducing CO2 (10/07/14) [6:19]
Relying on Natural Gas as a "Bridge Fuel" is a mistake because it delays the development of renewable energy and does not reduce emissions significantly enough, says Christine Shearer, post-doctoral scholar of Earth System Science at UC Irvine.*TRNN | Why Is Putin Hanging on to Assad? (10/05/14) [13:32]
Political economist Aleksandr Buzgalin says the Russian state is pursuing geopolitical interests in Syria and Ukraine for its elite - to the detriment of ordinary citizens.*TYT | Ben Affleck Angrily Defends Islam Against Bill Maher/Sam Harris (10/06/14) [24:12]
TYT | How Americans View Other Religions Will & Won't Surprise You (10/06/14) [12:30]
TYT | Khorasan Will Attack Tomorrow… Eventually, Says FBI Director (10/06/14) [7:10]
The Khorasan Group, the Al-Qaeda-linked cell that just landed on the US intelligence radar last month, allegedly has Americans in its ranks fighting in the Middle East whom the FBI cannot prevent from re-entering the country.
Last month, the world was introduced to yet another terrorist group -- the Khorasan Group -- a veteran group of Al-Qaeda-affiliated radicals purportedly running amok in the Middle East, which the head of the FBI says is "bent on destruction" -- and most specifically in the United States.
"Khorasan was working and you know, may still be working on an effort to attack the United States or our allies, and looking to do it very, very soon," James Comey said in an interview with 60 Minutes, a CBS news program.
American Banks Stockpile Treasuries as Deposits Top Loans
American banks are loading up on U.S. government debt, a sign they remain cautious on the economy even with the jobless rate at a six-year low and corporations at their healthiest in a generation.
Commercial lenders increased their holdings of Treasuries (BUSY) and debt from federal agencies in September by $54 billion to an unprecedented $1.99 trillion, data from the Federal Reserve show. Banks have now been net buyers for 12 straight months.
Bank of America Corp. (BAC) and Citigroup Inc. (C) are among the lenders adding government bonds this year as loan growth fails to keep up with record deposits and banks prepare for rules that take effect in January requiring them to hold more high-quality assets. While companies in the Standard & Poor's 500 Index are earning more than ever and carrying the lowest debt burdens in at least 24 years, the buying suggests that loan officers are less sanguine over the outlook for the U.S. economy. ... Read more
S&P 500 Companies Spend 95% of Profits on Buybacks, Payouts
Companies in the Standard & Poor's 500 Index really love their shareholders. Maybe too much. They're poised to spend $914 billion on share buybacks and dividends this year, or about 95 percent of earnings, data compiled by Bloomberg and S&P Dow Jones Indices show. Money returned to stock owners exceeded profits in the first quarter and may again in the third. The proportion of cash flow used for repurchases has almost doubled over the last decade while it's slipped for capital investments, according to Jonathan Glionna, head of U.S. equity strategy research at Barclays Plc.
Buybacks have helped fuel one of the strongest rallies of the past 50 years as stocks with the most repurchases gained more than 300 percent since March 2009. Now, with returns slowing, investors say executives risk snuffing out the bull market unless they start plowing money into their businesses. ... Read more
So now let's look at the big picture. The final totals are $59 billion, 3 percent of the total federal budget, for regular welfare and $92 billion, 5 percent of the total federal budget, for corporate welfare.
What Bubble? Record $924 Billion In 65 Million Auto Loans: 31% Of All New Loans Are Subprime
At least we now know, definitively, what the reason for the US manufacturing surge in the late spring early summer was: a subprime credit-driven car buying binge.Read more
Democracy Now! U.S. and World News Headlines for Monday, October 06 [10:15]
DN | Death of "Baby Doc" Duvalier Won't End Quest for Justice by Victims of Haiti's U.S.-Backed Dictator (10/06/14) [10:28]
DN | Black Prophetic Fire: Cornel West on the Revolutionary Legacy of Leading African-American Voices (10/06/14) [20:53]
*TRNN | Meteorologist Jeff Masters explains: New Evidence Links Global Heat Waves to Climate Change (10/06/14) [6:53]
*TRNN | Gaza Under Siege - Eva Bartlett on Reality Asserts Itself, Part 1 (10/06/14) [16:38], TRNN | Part 2 [16:27]
*TRNN |Economist Pavlina Tcherneva of Bard College explains: The Lower Unemployment Rate is a Recovery - for the Top 10% (10/06/14) [17:55]
Click to zoom - for bigger image
The Lower Unemployment Rate is a Recovery - for the Top 10%
Government Spends More on Corporate Welfare Subsidies than Social Welfare Programs
When one thinks about government welfare, the first thing that comes to mind is the proverbial welfare queen sitting atop her majestic throne of government cheese issuing a royal decree to her clamoring throngs of illegitimate babies that they may shut the hell up while she tries to watch Judge Judy. However, many politically well-connected corporations are also parasitically draining their share of fiscal blood from your paycheck before you ever see it. It's called corporate welfare. The intent here is to figure out which presents the greater burden to our federal budget, corporate or social welfare programs. ... Read moreOr read the Archived article here:
Click to zoom - for article
STUDY: U.S. Spends $59 Billion on Social Welfare…$92 Billion on Corporate Welfare
A recent blog post by Mike Sinn for Think by Numbers questions if the government spends more on social welfare or corporate welfare. The GOP has attempted to turn the political discussion surrounding the upcoming election into a debate about President Obama and social welfare, while progressives have done the same with Mitt Romney and corporate welfare. But who is right!? There have got to be…facts…haven't there!?
According to analyzed numbers from the year 2006, the government spends $59 billion (3% of its total budget) on social welfare and $92 billion (5% of total budget) on corporate welfare. Perhaps more interesting is that in 1996, when new welfare reforms were signed into law by President Bill Clinton, both caseloads AND child poverty significantly dropped, saving the government gobs of money: ... Read moreOr read the Archived article here:
Click to zoom - for article
Walmart - The High Cost of Low Prices (2013) [1:37:37]
Cutting Corporate Welfare by Ralph Nader
In this groundbreaking pamphlet, based on testimony he delivered before Congress, Ralph Nader describes how corporations are picking our pockets, and what we can do to stop them. While the United States continues to experience unprecedented cuts in social service programs and millions of Americans go without health insurance, massive corporations continue to reap huge sums of taxpayer money through "corporate welfare"--corporate subsidies, bailouts, giveaways, and tax escapes. Cutting Corporate Welfare details numerous appalling examples of corporate welfare, including: the giveaway of the public airwaves, which by definition belong to the people, to private radio and television stations (including the latest $70 billion gift of the digital spectrum); taxpayer subsidies for giant defense corporation mergers and commercial weapons exports to governments overseas; and the practice of making patients pay twice for drugs--first, as taxpayers subsidize the drugs' development, and again, as patients, after the federal government gives monopolistic control over the chemical's manufacture to a price-gouging drug company.Cato Institute | On Spending: No Sacred Cows
Donald Rumsfeld Admits Day before 911 "2.3 TRillion Dollars Missing from DOD" () [3:57]
Daily Ticker | Find the $8.5 Trillion the Pentagon Can't Account For
Click to zoom - US Defense Budget
Click to zoom - Where Your Tax Dollars Go
Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slide from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232K people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million! ...
STUDY: U.S. Spends $59 Billion on Social Welfare…$92 Billion on Corporate Welfare.
Americans Have No Idea How Bad Inequality Really Is
If Michael Norton's research is to be believed, Americans don't have the faintest clue how severe economic inequality has become -- and if they only knew, they'd be appalled.
Consider the Harvard Business School professor's new study examining public opinion about executive compensation, co-authored with the Chulalongkorn University in Bangkok's Sorapop Kiatpongsan. In the 1960s, the typical corporate chieftain in the U.S. earned 20 times as much as the average employee. Today, depending on whose estimate you choose, he makes anywhere from 272 to 354 times as much. According to the AFL-CIO, the average CEO takes home more than $12 million, while the average worker makes about $34,000. Read more
The Top Five Bank Bailouts We Never Heard About
Gallons of ink have been devoted to Wall Street executives' lack of accountability for a global financial meltdown that was built on top of a mountain of fraud.Read more
Nobody at the top has faced criminal prosecution. Executive compensation and bonuses have rebounded nicely. And while taxpayers committed trillions to keeping those "too-big-to-fail" institutions afloat, the foreclosure crisis persists six years after the crash.
And while the Troubled Asset Relief Program (TARP) sparked outrage, it wasn't the only bailout Wall Street bankers have enjoyed since their casino came crashing down around them.
Elizabeth Warren flagged a special ruling by the Treasury Department that allowed AIG to carry over losses it incurred before the bailout for tax purposes. In 2012, she and several colleagues wrote in The Washington Post that the insurance giant's "profits increased a staggering $17.7 billion -- from a loss of $2.2 billion a year earlier -- because of [the] special tax breaks."
In 2010, economist Dean Baker and others argued that Fannie Mae and Freddie Mac's continuing losses were in fact a matter of intentional policy -- that the government-owned lenders were acting as a conduit to take bad securities off of the big banks' balance sheets without raising the public's ire by creating another TARP-style pot of cash. ...
*Bill Moyers | A veteran bank regulator, William K. Black, lays bare how Washington and Wall Street are joined in a culture of corruption. (10/02/14) [25:20]
JPMorgan Says Data Breach Hit 76 Million Households
A cyber attack at America's biggest bank this summer affected more than half of all U.S. households -- far, far more than previously estimated, and the latest in a string of massive, unnerving data breaches. The attack at JPMorgan Chase affected the data of 76 million households and 7 million businesses, the bank said in a regulatory filing on Thursday.
... Hackers attacked the bank's computer systems periodically between mid-June and mid-August, according to The Wall Street Journal. The attackers accessed customer names, email addresses, phone numbers and physical addresses, along with "internal JPMorgan Chase information relating to such users," the bank said in its regulatory filing. The bank didn't describe what sort of information that was. ... Read more
Democracy Now! U.S. and World News Headlines for Friday, October 03 [13:55]
*DN | Iraq Veterans Against the War: Decade-Old Group Grapples with New War, PTSD Epidemic, VA Failures (10/03/14) [24:10]
*DN | Jeremy Scahill on Obama's Orwellian War in Iraq: We Created the Very Threat We Claim to be Fighting (10/03/14) [17:49]
This is what Henry Kissinger's brand of Exceptionalism did to Laos, not to mention Cambodia or Veitnam.*Watch the US Drop 2.5 Million Tons of Bombs on Laos *Bill Moyers | A veteran bank regulator, William K. Black, lays bare how Washington and Wall Street are joined in a culture of corruption. (10/02/14) [25:20]
*TRNN | Johns Hopkins Infectious Disease Program co-director Taha E. Taha discusses: What's Behind the Ebola Crises and are U.S. Americans at Risk? (10/03/14) [16:14]
TRNN | Phil Donahue says he believed he was blessed, living in the greatest country on earth, Part 1 (09/30/14) [21:37] *TRNN | Phil Donahue: Corporate Media is Destroying Democracy, Part 2 (10/02/14) [23:43] *TRNN | Phil Donahue: Whistle Blowers, Dissenters, and Progressives are the Patriots, Part 3 (10/03/14) [19:02]*TYT | This Is The Income Inequality Video CEOs Don't Want Americans To See (10/02/14) [16:26]
*TYT | Profits From Syrian Airstrikes Will Churn Your Stomach (10/02/14) [8:24]
TYT | Ebola Causes Outbreak Of Fear, Panic & Obama-Hating At Fox News (10/02/14) [7:15]
TYT | Netanyahu Equates ISIS To Hamas & Then Brings Up Nazis (10/02/14) [8:01]
TYT | Justice Scalia Is Utterly Stupid, Especially On Religion & The Constitution (10/02/14) [8:15]
TYT | Orthodox Jewish Men Cause Flight Delays After Refusing To Sit Next To Women (10/02/14) [6:41]
TYT | Texas Man Diagnosed With Ebola (10/02/14) [3:27]