imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Tell the NSA: StopWatching.US

Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: www.indymedia.org 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 - json version - email this article - view hidden posts - tags and related articles
link:

Cliff Notes

by Stephen Lendman Sunday, Dec. 30, 2012 at 11:32 PM
lendmanstephen@sbcglobal.net

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 lendmanstephen@sbcglobal.net.

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

http://www.claritypress.com/LendmanII.html

Visit his blog site at sjlendman.blogspot.com 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.

http://www.progressiveradionetwork.com/the-progressive-news-hour

http://www.dailycensored.com/cliff-notes-2/
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

In LA, San Diego, Sacramento and 147 Other Cities, McD And Other Fast Food Workers Picket S05 1:08PM

Did LA pro-Israel group conceal right-wing identity from Hollywood celebs and media? S04 11:39AM

Stop Circus Animal Suffering – Protestors Urge Audiences to Shun the Wild Animal Circus S02 4:49PM

Anti-blackracism in the U.S. S01 12:10PM

New Zine on Activist Collective Living A29 9:19AM

LA Fields Two Marches Against Police Executions Photoset 2 of 2 A21 9:09PM

LA Fields Two Marches Against Police Executions Photoset 1of 2 A21 7:01PM

Running Down the Walls 2014 A20 8:48PM

Weaving the Past: Journey of Discovery Extends Exclusive Engagement A19 3:37PM

Los Angeles Declares “Hands Up!” in Peaceful Protest of LAPD Murder of Ezell Ford A18 4:09AM

Ezell Ford and Ferguson Solidarity A17 6:35PM

Family and Supporters of #Justice4Fords Protest LAPD Execution of Ezell Ford in South L.A. A17 2:49PM

Southern California Swarms to Save the Bees in Solidarity with Honey Bee Day Around the Gl A17 5:30AM

More Local News...

Other/Breaking News

From Scarcity to Glut? S30 4:19AM

Chinese Spring? Hong Kong rebels S29 9:47PM

ILWU denounces Oakland Block the boat action S29 4:59PM

Obama's Phony War on Islamic State Militants S29 1:23PM

Making Sense of the CETA, 128 pp S29 10:47AM

Obama Targets Free Expression S29 6:51AM

8 Reasons Why Congress Should Vote No on Training and Funding Syrian Rebels S29 4:27AM

America: Humanity's Greatest Threat S29 4:26AM

Philippines: Dismantling the Marcoses' "Empire of Memory" S28 11:06PM

MSM Support Brazen Lawlessness S28 11:10AM

Irresponsible New York Times Presstitution S28 6:47AM

Israel: Guilty of Genocidal High Crimes S27 1:36PM

Bombs Away: Official US Policy S27 12:12PM

Paraphysique de la déontologie S27 9:41AM

Britain: Washington's Convenient Pawn S27 7:04AM

American parents stand up for Tammy and Jonah Rief S27 1:42AM

Holder Resigns S26 1:33PM

Argentina Faces US Contempt Hearing S26 8:21AM

ISIS is a CIA Inspired 'Frankenstein' Monster Designed to Villify Islam S26 5:24AM

Obama Wants Regime Change in Russia S26 4:00AM

Asian Socialism Conference in the Philippines S26 3:40AM

Wheat Gluten May Cause Symptoms of Depression and Paranoia S25 1:22PM

Reactiions to Obama's UN Address S25 1:00PM

Vice News reporting from besieged Kobane in north Syria S25 8:47AM

Why a Global Wealth Tax Reduces Inequality S25 5:51AM

Obama's Demagogic UN Address S25 4:22AM

Guardians of the Galaxy, Comics, Movies and a new Cosmology S24 10:42PM

Spiritualists, Science and Subjective and Objective Realities S24 10:30PM

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