Lawrence Wilkerson, a retired United States Army soldier and former chief of staff to United States Secretary of State Colin Powell, says the target of low oil prices is Russia and Iran, throwing their economies into turmoil and opening their doors to sovereign raiders.
Everyone wants good news, so the government makes it up. The latest fiction is that US real GDP grew 4.6% in the second quarter and 5% in the third.
Where did this growth come from?
Not from rising real consumer incomes.
Not from rising consumer credit.
Not from rising real retail sales.
Not from the housing sector.
Not from a trade surplus.
Accumulation by Dispossession, Dispossession by Criminalization
The world is still hell-bent for hydrocarbon-based energy. Russia is one of the world’s largest producer of energy. Russia has recently announced that in the future she will no longer trade energy in US dollars, but in rubles and currencies of the trading partners. In fact, this rule will apply to all trading. Russia and China are detaching their economies from that of the western financial system.
Dystopian narratives have long been an alluring and thought-provoking form of entertainment, especially for those who take an interest in studying social and political structures. From classics like Nineteen Eighty-Four and Brave New World to the current hit, The Hunger Games, these stories play on our fears while simultaneously serving as warning signs for the future.
A dangerous new trend is the successful manipulation of the financial markets by the Federal Reserve, other central banks, private banks, and the US Treasury. The Federal Reserve reduced real interest rates on US government debt obligations first to zero and then pushed real interest rates into negative territory. Today the government charges you for the privilege of purchasing its bonds.
The developed world is just crazy in love with the “miracle of Chile,” as expressed by Milton Friedman some years ago. The accolades are everywhere, ranked as a “high-income economy” by the World Bank. The country has the strongest sovereign bond rating in South America. It is a role model for neoliberalism.
We are now living outside of the laws of nature where nature is now turning against man and becoming the enemy.
— The Kogi Mamas
Given that a call for sharing is already a fundamental (if often unacknowledged) demand of engaged citizens and progressive organisations, there is every reason why we should embrace this common cause that unites us all.
*****
Many summers ago, just freed from the enforced boredom of high school, I signed up for a course on Marxist economics. Andy, the teen I worked with, asked if I would accompany him. I envied him his dad, a transplanted Marxist Scotsman, and I relished the transgression I was invited to undertake, especially as a recent apostate from Catholicism.
