imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
latest news
best of news



CopWatch LA


A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network: africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles

Cliff Notes

by Stephen Lendman Sunday, Dec. 30, 2012 at 11:32 PM

class war

Cliff Notes

by Stephen Lendman

Congressional/administration hype, theater, gamesmanship, brinksmanship, and duplicity define yearend fiscal cliff discussions.

Previous articles explained what's at stake. Years ago, Republicans and Democrats conspired to destroy America's social contract.

Militarism, imperial dominance, tyranny, corporate/super-rich priorities, class war, and widening the unprecedented wealth disparity followed.

Economist Jack Rasmus calls fiscal cliff subterfuge "austerity American style."

Media scoundrels conceal what readers and viewers most need to know. Fiscal cliff hype shows what they're up against. Eleventh hour discussions continue.

The New York Times headlined "Senate Leaders Set to Work on a Last-Minute Tax Agreement."

The Washington Post said "Agreement within reach on 'fiscal cliff' deal, officials say."

"Cliff Deal Hinges on Senators," headlined the Wall Street Journal. Senate leaders said they'd "launch a last-ditch weekend effort to avert the so-called fiscal cliff."

Unexplained is that none exists. Hype substitutes for reality. Budget and deficit problems are real. Effective fixes are spurned. Destructive ones are prioritized.

Progressive Radio News Hour regular Paul Craig Roberts told listeners that suspending Afghan military operations for three months would solve things for now. Ending hostilities entirely would do so longer term.

Prioritizing peace over war, using US resources responsibly, enacting sustainable economic growth legislation, re-industrializing America, and job creation would do so in perpetuity.

Obama and party bosses don't explain. Nor do media scoundrels. On December 26, a New York Times editorial headlined "Fiscal Endgame," saying:

House Republicans "rejected (Obama's) overly generous budget deal." They also "rejected their own leadership's proposal."

No deal means ordinary Americans will be hit hardest, claims The Times. Omitted was explaining bipartisan agreement to destroy social America. Details alone remain to be resolved.

Pre or post-yearend doesn't matter. Continuing resolutions extend many policies when agreements aren't reached. Before Congress adjourns, grand plan resolution won't happen.

Expect talks to end by kicking the can down the road. Temporary resolution will likely be reached. More time will be bought. Major issues will be delayed for 2013 Q I and later discussions.

Endgame intentions are clear. Crisis conditions fester. Ordinary Americans will suffer most. Both parties prioritize making them pay for dire conditions predatory bankers caused.

A December 27 Washington Post editorial headlined "Avoid the 'fiscal cliff,' " saying:

Democrats and Republicans remain "at loggerheads." America "faces a harmful and gratuitous economic shock that would be inflicted by its own leaders."

Both sides share blame. Before January 1, expect nothing more than stopgap legislation. Passage will avoid "disaster."

Obama and Congress have days left to agree. Failure would "abdicat(e) their responsibility to the nation."

WP, NYT, and other major media consumers have no idea what's going on. Scoundrel editors, commentators, and staff writers don't tell them.

Economist Michael Hudson discussed "America's Deceptive 2012 Fiscal Cliff." He published part one of a two-part article.

Victors and powerful interests write history, he said.

"Holding the bottom 99% in debt, the top 1% are now in the process of subsidizing a deceptive economic theory to persuade voters to pursue policies that benefit the financial sector at the expense of labor, industry, and democratic government as we know it."

Powerful special interests blame unemployment and America's "loss of industrial competitiveness" on spending and deficit woes.

Junk economics turns truth on its head. Financial lobbyists claim "austerity can enable private sector debts to be paid."

In fact, "when banks load the economy down with debt," less remains for "domestic goods and services."

Bad policies produce bad results. Destructive ones "reduce private sector market demand." Doing so "shrink(s) markets and employment."

Distressed governments are told to sell valued land and natural resources. Buyers want fire sale prices. Bankers and other financial predators profit greatly.

Lucrative bank loan financing is created. Privileged 1% players profit. Indebtedness and mass privatizations benefit them. Ordinary people end up severely harmed.

Austerity advocates lie. Central banks only print new money to wage war, destroy property, and benefit financial interests, other corporate favorites, and super-rich elites.

Fundamental infrastructure and popular needs go begging. Effective policies are spurned.

"Governments need to provide the economy with money and credit to expand markets and employment. They do this by running budget deficits, and this can be done by creating their own money."

Bankers oppose what harms their interests. Washington is Wall Street occupied territory. What banking giants and other major financial companies want they get.

They "captured mainstream economics." They're "winning (their) war against the economy at large." They want ordinary people to think there's no alternative.

Political Washington and media scoundrels support them. Much better alternatives than force-fed austerity and debt peonage exist, says Hudson. Part two will explain more.

Late Friday afternoon, Obama expressed modest optimism. He met with congressional leaders. Senate Minority Leader Mitch McConnell (R-KY) said:

"We had a good meeting at the White House, and we are engaged in discussions…. in hopes that we can come forward (with a plan) as early as Sunday."

Senate Majority Leader Harry Reid (D-NV) called discussions "constructive." He added that "whatever we come up with" won't be perfect.

Expect a December 31 Senate vote. Majority Democrats will pass what Obama endorses. House Republicans may or may not agree. Failure will let yearend tax breaks and unemployment benefits expire. Explaining it to constituents won't be easy.

Obama wants wealthy Americans "to pay a little more." Republicans object. Expect eventual compromise.

Obama said what fiscal conservatives want to hear. He wants spending cut "in a responsible way."

At issue is destroying America's social contract, enacting corporate tax cuts, largely protecting super-rich elite benefits, and generously funding the Pentagon's war machine.

It's also about making ordinary households pay for militarism, permanent wars, and predatory capitalist waste, fraud, excess, and abuse. Making them bear the burden is official policy.

Both sides agree. Temporary or final resolution will harm millions least advantaged. Living standards will be hit hard. Expect House Republicans to come around in stages.

On or around yearend, modest agreement will be reached. Enough to last weeks or through 2013 Q I. Investors and markets will be assuaged. Negotiations will continue. Before end of March, other issued will be resolved.

Later discussions will involve major tax code changes. Corporate tax cuts will be prioritized. Obama agreed earlier. Doing so bought business support.

Republicans won't spurn major campaign donors. Compromise will benefit privileged Americans at the expense of all others. America's social contract is on the chopping block for elimination. Death by 1,000 cuts is planned. Responsible solutions are spurned.

Privatization will ruin Social Security, Medicare, and other government-run programs. Financial predators will strip mine them of worth.

Third-worldizing America is planned. Homeland repression will target nonbelievers.

America never was the land of the free and home of the brave. It was never beautiful and isn't now. The worst is yet to come. Bipartisan complicity assures it.

Stephen Lendman lives in Chicago and can be reached at

His new book is titled "Banker Occupation: Waging Financial War on Humanity."

Visit his blog site at and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

Local News

SAG-AFTRA video game performers on strike O22 11:04PM

Stop Circus Animal Suffering – Protestors Urge Audiences to Shun the Wild Animal Circus O20 3:04PM

KPFK LSB statement on DAPL arrests O19 10:25AM

Transit Dependent Residents Need a Guaranteed Right to Stay O15 11:36PM

My letter to JJJ on JJJ O11 12:33PM

Prop 60, Condom Law O10 12:43PM

KPFK-Pacifica Radio Archives being sold off on ebay? O10 10:31AM

KPFK struggles without re-solutions O07 2:25PM

Problems with Measure M O05 5:24PM

Stop Circus Animal Suffering – Protestors Urge Audiences to Shun the Wild Animal Circus S07 5:57PM

Nuclear Shudown News Aufust 2016 A30 3:46PM

WIKIpedia is not what we readers Thought nor is it even current about Pacifica or KPFK A24 3:10PM

"KPFK has a $500,000 deficit “ !! Can this be true? A19 6:10AM

Nuclear Shutdown News July 2016 A01 1:36PM

A 99-page report "Election fraud" from Election Justice USA A01 4:14AM

INDY's KPFK radio program being eliminated ? too ? J10 4:57PM

Bertolt Brecht Testifies Before the House Un-American Activities Committee (1947) 2 min J02 3:04PM

Pacifica-KPFK Archives, director resignation J18 4:50PM


KPFK radio elections for LSB coming Quick ! J18 1:05PM

KPFK Local Station Board Elections In-Progress J13 11:31AM

Black Lives Matter Activist Jasmine Abdullah Sentenced Three Months in Jail on Attempted Lynching Charge J09 2:08AM

Why are the Park Rangers making it even more difficult for the homeless in Los Angeles? J04 3:11PM

Bernie Sanders in Lincoln Heights M23 8:23PM

Los Angeles Sit-In to Fight Voter Suppression M18 4:28AM

War Within California's 46th CD M13 11:42AM

NPR's David Greene & Alison Aubrey along with David Ludwig Shill For Factory Farm Eggs M13 7:55AM

2016 AT&T Shareholders engaged by Communications Workers of America D9 Activists M12 11:43PM

More Local News...

Other/Breaking News

The Shortwave Report 10/28/16 Listen Globally! O27 5:21PM

HR 676 Is A Single Payer Health Insurance Bill That We Need O27 2:07PM

I offer criminal indictments against fbi et al. O27 1:54AM

Logomachie extinctive O26 1:00AM

Video: Tom Hayden, Listen Yankee! 2015 O25 10:56AM

(A-Radio) Presentation: the Prison Strike in the USA 2016 O25 8:41AM

Clinton beginning informal talks with congressional Republicans O24 11:45PM

Video: Noam Chomsky: The Alien Perspective on Humanity, 51 min O24 7:43AM

renewed US pressure on Australia to line up against China O24 12:30AM

Art About Privilege Censored on Facebook O23 3:16AM

Paraphysique de la folie O23 2:21AM

Vote if you want to serve on a jury. O22 2:37PM

Washington moves to silence WikiLeaks O22 2:12AM

The class struggle of th Libertarian presidential candidate Gary Johnson O22 2:09AM

What is behind the anti-Russia campaign in the US? O22 1:51AM

The Supposed "Omnipotence" of Politicians O21 10:52AM


Philippines: Duterte’s first 100 days O21 4:01AM

Fbi/police community is a threat to our people O20 11:24PM

The Shortwave Report 10/21/16 Listen Globally! O20 5:01PM

Film/TV Composer Megan Cavallari to Receive the FAHF Humanitarian Award O20 2:18PM

NYC Councilwoman sponsors ground-breaking bill prohibiting wild and exotic animal displays O19 10:22AM

Paraphysique de l'aidance O19 2:57AM

Hallmarks of f b i O18 9:43PM

Sylvia Opens October 21 at Odyssey Theatre; Tanna Frederick Stars O18 11:13AM


What the Narcissists Have Done to Our Jobs and Health O18 4:48AM

Fbi as human monster O18 1:16AM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy