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Archive for December 2014

2014: The Year Propaganda Came Of Age

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Meijer sums it all up very well (read the whole thing!)

2014: The Year Propaganda Came Of Age

   December 26, 2014    by

……that truly defines 2014 for me. A level of propaganda I don’t recognize, and I don’t think I’ve ever seen before. 2014 has for me been the year of utter nonsense. To wit, it just finished in fine form with a 5% US GDP growth number, just to name one example. Really, guys? 5%? Really? With all the numbers presented lately, the negative Thanksgiving sales data – minus 11% from what I remember -, the so-so at best Christmas store numbers to date, shrinking durable goods in November and all? Plus 5%?

It really doesn’t matter what I say, does it? You have enough people believing ridiculous numbers like that to make it worth your while. After all, that’s all that counts…..

…..Ukraine defines 2014 as the year western propaganda came into its own. Not just fictional stories about an economic recovery anymore, no, we had our politico-media establishment ram an entire new cold war down our throats. And we swallowed it whole. We may have had a million more years of higher education than our parents and grandparents, but we sure don’t seem to have gotten any smarter than them……

 read entire article here

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Congratulations chumps! You are now on the hook for $303 Trillion in Derivatives

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wage slave

Congratulations chumps! You are now on the hook for $303 Trillion in Derivatives

Daily Kos 12/15/14

Before Glass-Steagall was repealed in 1999, Wall Street was on the hook for bad bets with derivatives. During the real estate bubble the taxpayer was on the hook for these casino chips.

Then came the 2008 meltdown and Dodd-Frank was pushed through. The taxpayer was off the hook for six years. But now Congress rolled over for Wall Street and the taxpayer is on the hook again…..

Did Wall Street Need to Win the Derivatives Budget Fight to Hedge Against Oil Plunge?

naked capitalism 15 Dec 2014

Conventional wisdom among banking experts is that Wall Street’s successful fight last week to get a pet provision into the must-pass budget bill (or in political junkies’ shorthand, Cromnibus) as more a demonstration of power and a test for gutting Dodd Frank than a fight that mattered to them. But the provision they got in, which was to undo a portion of Dodd Frank that barred them from having taxpayer-backstopped deposits fund derivative positions, may prove to be more important than it seemed as the collateral damage from the 40% fall in oil prices hits investors and intermediaries….

 

Cromnibus Pension Provisions Gut Forty Years of Policy, Allow Existing Pensions to Be Slashed

naked capitalism 15 Dec 2014

The Kline-Miller amendment allows multi-employer pension benefits to be cut. Shouldn’t Warren Democrats be against that? ….

Deterioration of Public Health Parallels Increase in GM Crops and Glyphosate Use

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Marked Deterioration of Public Health Parallels Increase in GM Crops and Glyphosate Use, US Government Data Show

The steep rise in incidence of 22 chronic diseases in the US correlates strongly with the increase in GM crops and the application of glyphosate-based herbicides

Institute of Science in Society      Prof Peter Saunders   Dec. 10, 2014

Ample evidence of glyphosate toxicity already exists

Despite what the manufacturers say, there is ample evidence to show that glyphosate, the active ingredient of Monsanto’s Roundup, Syngenta’s Touchdown, Dow’s Durango and many other herbicides, is highly toxic and a serious hazard to human and animal health. There is documentation of miscarriages, birth defects, carcinogenesis, endocrine disruption, DNA damage, neurotoxicity, and toxicity to liver and kidney at levels well below recommended agricultural use (See, for example, first Chapter of [1] Ban GMOS Now , ISIS special report, [2]  Glyphosate and Cancer, SiS 62). Several countries, among them Denmark, The Netherlands, France, El Salvador and Sri Lanka have recognised the dangers imposed total or partial bans on the use of glyphosate, though the ban in Sri Lanka was lifted under pressure from the manufacturers (Sri Lanka Partially Bans Glyphosate for Deadly Kidney Disease Epidemic  [3]) .

Other countries, especially those with large chemical and biotech industries and/or a major commitment to industrial farming, take a totally different view. The US Environmental Protection Agency (EPA) recently increased the permitted tolerance levels for glyphosate residues in food. The European Food Safe Agency (EFSA) has recommended the re-approval of glyphosate for use in Europe with an increase in acceptable daily intake (ADI) from 0.3 to 0.5 mg per kg body weight. It is not surprising that EFSA reached this decision; the review was in fact carried out by a ‘Glyphosate Task Force’ (GTF) made up of a consortium of chemical companies including Monsanto, and based its conclusions largely on reports submitted by the manufacturers (Scandal of Glyphosate Re-assessment in Europe [4]).

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Wal-Mart is concentrated neoliberalism

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Shopping ’til we all drop at Wal-Mart

Wal-Mart is concentrated neoliberalism. From working to weaken government at the same time it gorges on government subsidies, to exploitation of its workforce, to moving production to the places with the lowest wages and weakest laws, to underpaying taxes, the workers who walked out on Black Friday have no shortage of targets.

Some of the latest findings in a just released report reveal that Wal-Mart dodges $1 billion a year in taxes and is the recipient of an estimated $6.2 billion a year in indirect subsidies through social-welfare programs such as food stamps. A separate report also just published documents the poverty of Wal-Mart workers, many of whom regularly skip meals because their pay is so low……..    read more here