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A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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Trump is Turning Against the White Working Class that Elected Him
SHARMINI PERIES: It's the Real News Network. I'm Sharmini Peries coming to you from Baltimore. The rise of stock prices in the US stock market could be an indication of economic growth and prosperity, but it could also be an indication of the concentration of wealth of the rich and powerful. Which is it? To... Read More
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U.S. Sanctions Aimed at Russia Strike Western European Allies
Do they know what they are doing? When the U.S. Congress adopts draconian sanctions aimed mainly at disempowering President Trump and ruling out any move to improve relations with Russia, do they realize that the measures amount to a declaration of economic war against their dear European “friends”? Whether they know or not, they obviously... Read More
Back in the 1990s stock bubble it was common for analysts to say things like price-to-earnings ratios (PE) no longer mattered. They were right, at least for a while, as the stock valuations of companies like AOL and Priceline soared way beyond anything that could conceivably be justified by current or future earnings. Of course... Read More
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What will those rascals in Moscow do next?
It has been another week full of news about Russia. Americans might be surprised to learn that nearly every aspect of their lives has been somehow impacted by the insidious covert activity of a former global enemy that now has an economy the size of Spain or Italy. One of the latest claims is that... Read More
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Amid the proverbial doom and gloom pervading all things Syria, the slings and arrows of outrageous fortune sometimes yield, well, good fortune. Take what happened this past Sunday in Beijing. The China-Arab Exchange Association and the Syrian Embassy organized a Syria Day Expo crammed with hundreds of Chinese specialists in infrastructure investment. It was a... Read More
Ancient Silk Road Routes.  Credit: Wikimedia Commons
Peter Frankopan's The Silk Roads: A New History of the World shows why we need to re-vision history
The word revisionist derives from roots meaning "to look again." And since history is an ongoing project, whose main purpose is to help us understand where we have come from and where we are going, we obviously need to keep taking fresh looks at the past as we propose new visions of the future. Obligatory... Read More
Pretty much everything our media tells us about China is wrong–or at least one-sided–including its tales of a China ‘debt problem’. The Chinese are, in all times and places, debt-averse and China’s government which, unlike ours, must take long-term responsibility for the economy, is no different. Mao set the example and grew GDP by 6.2... Read More
To one watching the advance of Chinese science and technology, or to me anyway, several things stand out. First, the headlong pace. Second, the amount of it that appears aimed at making China independent of the West technologically and getting the United States off Beijing’s back. Third, the apparent calculated focus. It looks like intelligent... Read More
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As a rule I try to see my glass half-full, leaving the half-empty one to other fellows. And now there are some good reasons for an eternal optimist to stick to his positive schedule. Though it tarried, the summer has come, after all, to the North. The skies are blue, the grass is green and... Read More
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Glass-Steagall or Another Economic Meltdown?
Donald, listen, whatever you’ve done so far, whatever you’ve messed up, there’s one thing you could do that would make up for a lot. It would be huge! Terrific! It could change our world for the better in a big-league way! It could save us all from economic disaster! And it isn’t even hard to... Read More
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As published in Harper’s Magazine. Let’s start with your 2006 Harper’s article. What did you see happening at that point? It was very clear that more and more of everybody’s income had to go to buying a
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In the years since the 2008 economic crisis, financial transactions taxes (FTTs) have gone from a fringe idea to a policy that is in mainstream policy debates. They are seen as a way to both raise large amounts of money and to slow the pace of churning in financial markets. For this reason, most progressive... Read More
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SHARMINI PERIES: Just prior to the economic collapse of 2007-2008 there were several economic indicators which could have given us a clue of the impending disaster. If we look at the economic situation today in the US, we find many of these very same indicators. Housing prices are getting very high. Credit card debt has... Read More
Economist Tyler Cowen of Marginal Revolution interviews Stanford economist Raj Chetty and borrows a number of his questions from my appreciative 2015 critique in Taki's Magazine, "Moneyball for Real Estate," of the flaws in Chetty's methodology in his huge and much publicized study of how income mobility over the generations varies by county across the... Read More
If One Arm is Right, the Other Will Be Left, No?
This worthy and public-spirited column seldom dives into the thickets of military hardware, which it regards as excessively technical. However, the arms race between China and Washington is of enough gravity that its more exotic armaments may be of interest. Herewith, the truly dangerous weaponry of the contending sides. C-919 A Chinese narrow-body intended to... Read More
Frankford, Philadelphia, 2014
Jonathan Revusky was in Philly for a few days, and I had a great time showing Jon around. We went to Kensington, Fishtown, Camden, Point Breeze, Little Cambodia and Rittenhouse Square, all but the last at the sinking end of the economic scale, places I’m well familiar with. At Jack’s Famous Bar, we ordered a... Read More
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Sharmini Peries: The European Commission announced on May 2, that an agreement on Greek pension and income tax reforms would pave the way for further discussions on debt release for Greece. The European Commission described this as good news for Greece. The Greek government described the situation in similar terms. However, little attention has been... Read More
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Not the American One, But Trump’s
President Trump, his children and their spouses, aren’t just using the Oval Office to augment their political legacy or secure future riches. Okay, they certainly are doing that, but that’s not the most useful way to think about what’s happening at the moment. Everything will make more sense if you reimagine the White House as... Read More
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Billionaire businessman Marc Cuban insists that the H-1B visa racket is a feature of the vaunted American free market. This is nonsense on stilts. It can't go unchallenged. Another billionaire, our president, has ordered that the H-1B program be reformed. This, too, is disappointing. You'll see why. First, let's correct Mr. Cuban: America has not... Read More
There was a time when boys played games of marbles following strict playground rules: contestants had to stand a prescribed distance away from the little pyramid of marbles, and chuck only marbles of the prescribed size. Rules ruled. Piaget was intrigued by the explanations children gave for moral judgements, and the playground is the arena... Read More
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Introduction Every day and throughout the world we read and hear of turmoil, of threats, violence, divisions, wars for peace and peace for wars, freedom as oppression and oppression as freedom. In a world where words have lost their meanings and meanings have no words, how do we go about understanding turmoil? Surely, economies rise... Read More
KIM BROWN: Welcome to The Real News Network in Baltimore. I'm Kim Brown. Donald Trump promised repeatedly to, "Drain the swamp," during his presidential campaign, his vow to end the cycle of corruption within the Federal government. All while touting his own experience as a businessman, as reason enough for him to be Commander-in-Chief. Yet,... Read More
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The ‘White Plague’ of the 21st Century
Introduction Over the past two decades hundreds of thousands of Americans have died prematurely because of irresponsibly prescribed narcotic ‘pain killers’ and other central nervous system depressants, like tranquillizers and their deadly interactions. The undeniable fact is that they have been mostly from the white working and lower middle class from rural and deindustrialized regions.... Read More
Friendly Lounge, 2017
My local dive, Friendly Lounge, was mentioned in I Heard You Paint Houses, a book soon to be turned into a movie by Martin Scorcese. Now Friendly’s featured quite prominently in The Last Don Standing, an account of the Philly mob by Ralph Natale. An infamous snitch, Natale still spent 27 years inside. As I... Read More
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The undeniable success of Venezuela’s Hugo Chavez must have been especially aggravating to the world’s oldest billionaire, David Rockefeller, who died in his sleep last week at 101. The Rockefellers and their Standard Oil essentially ran Venezuela for decades, deciding on not just US ambassadors but Venezuela’s national policies. Until 1951 Standard Oil’s Venezuela branch... Read More
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Introduction: The cross border flood of millions of immigrants provokes profound political divisions, violence and the rise of mass movements challenging the unity of the European Union (EU) and the survival of the dominant political parties in the US and Europe. Both the progressive pro-immigrant and rightwing anti-immigration parties and movements propose easy answers and... Read More
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Introduction: From their dismal swamps, US academic and financial journal editorialists, the mass media and contemporary ‘Asia experts’, Western progressive and conservative politicians croak in unison about China’s environmental and impending collapse. They have variably proclaimed (1) China’s economy is in decline; (2) the debt is overwhelming; a Chinese real estate bubble is ready to... Read More
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Nobody yet can tell whether Donald Trump is an agent of change with a specific policy in mind, or merely a catalyst heralding an as yet undetermined turning point. His first month in the White House saw him melting into the Republican mélange of corporate lobbyists. Having promised to create jobs, his “America First” policy... Read More
Why is corruption so bad in Eastern Europe? And what can be done about it? First off, I don't know to what extent it can be reduced. According to the hbdchick's theories on the Hajnal Line, ceteris paribus, Southern and Eastern Europe will always be more corrupt than the countries of "core Europe" because they... Read More
West End Mall, Atlanta, 2017
Knowing you can’t run from their jokes, bus drivers will crack a few, so on the endless leg from Washington to Atlanta, the driver intoned, “I don’t believe in Lost and Found, ladies and gentlemen, only eBay. If you forget something on this bus, you can find it on eBay.” Later, he chastised us all... Read More
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The U.S. economy is weak. Very weak. But the Federal Reserve is planning to raise interest rates anyway. Why? Here’s what’s going on: According to the Atlanta Fed the US economy is expected to grow at a respectable 2.8 percent for the first quarter of 2017 That’s not bad considering that, for the entire year... Read More
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SHARMINI PERIES: Welcome back to The Real News Network. I’m speaking with Michael Hudson, the author of, J is for Junk Economics, a Guide to Reality in the Age of Deception. Don’t miss it. We’re going to be talking about this book, and some of the misleading concepts that are out there, in terms of... Read More
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One usually doesn’t think of fashion models as skilled workers. President Donald Trump, married to a former fashion model, would beg to differ. And a good test of his commitment to patriotic immigration reform will be his willingness to persuade Congress to repeal legislation enabling foreign models to work here. That law is a part... Read More
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Finance as Warfare: The IMF Lent to Greece Knowing It Could Never Pay Back Debt
SHARMINI PERIES: The latest economic indicator showed that the Greek economy shrank by 0.4% in the last three months of 2016. This poses a real problem for Greece, because its lenders are expecting it to grow by 3.5% annually, to enable it to pay back on its bailout loan. Greece is scheduled to make a... Read More
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Introduction By the end of the first month of President Trump’s Administration we are in a better position to evaluate the policies and direction of the new President. An examination of foreign and domestic policy, particularly from a historical and comparative perspective will provide insights about whether America is heading for a catastrophe as the... Read More
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An article by Robert Berke in oilprice.com, which describes itself as “The No. 1 Source for Oil & Energy News,” illustrates how interest groups control outcomes by how they shape policy choices. Berke’s article reveals how the US intends to maintain and extend its hegemony by breaking up the alliance between Russia, Iran, and China,... Read More
Dirty Frank\
Before its rents became astronomical, I lived in CenterCity, so frequented McGlinchey’s and Dirty Frank’s. Now, I walk into Frank’s and hardly recognize anybody. Uncle Moe, Tommy Hackett and Skinny Dave are long dead, the last from an OD while in his late 30’s. Others have moved away. Last week, though, I ran into Rick,... Read More
The reason I don't write much about Russia's demographics nowadays is that there isn't much point to it. Up until the early 2010s, the Western media was brimming with misinformation about the subject - what we now call #fakenews - so refuting it was both profitable and easy. Incredibly easy. You didn't really have to... Read More
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It's amazing how Obama was able to dupe the American people into believing that the weakest expansion in the postwar era, was an "economic recovery." Frankly, it boggles the mind. Think about it for a minute: Productivity, business investment, personal consumption, inflation and growth have all been either sputtering-along at half speed or at historic... Read More
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How a Bank Conquered Washington
Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government while the people have borne the cost. Washington flourished -- but the people... Read More
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Introduction: During his inaugural speech, President Trump clearly and forcefully outlined the strategic political-economic policies he will pursue over the next four years. Anti-Trump journalist, editorialists, academics and experts, who appear in the Financial Times, New York Times, Washington Post and the Wall Street Journal have repeatedly distorted and lied about the President’s program as... Read More
Trump Ghost Town Inauguration
SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. While protestors and police are clashing on the inaugural parade route in Washington, D.C., the newly sworn-in President of the United States is lunching with the establishment in Washington — Some of the very people he called out in his... Read More
Peter in Friendly Lounge
An American president has become a cartoon hero or villain. Like Obama, Trump is an inconsequential yet lurid target for worshippers and detractors to unload emotions. As we rejoice or rage at this figurehead, the Military Banking Complex will continue to serve the elites at our expense. Our economy will keep cratering, and our poor... Read More
Mock-up of planned Russian-Chinese airliner to compete with Boeing and Airbus. To enter service by 2025. Ambitious? Oh yes. Remember when we laughed at Toyota, Airbus, and Trump? Credit: Sputnik News.
Make Money, Not War
Is Washington really going to start a trade war with China, or is it just huffing and puffing for position? I don’t know. Mr. Trump has inexplicably failed to brief me. A point worth bearing in mind: The United States cannot compete commercially with a developed Asia, or China. America has nowhere to go. It... Read More
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Donald Trump has a plan for dealing with the stock market bubble. Make it bigger. Before the election candidate Trump blasted Federal Reserve chairman Janet Yellen for keeping interest rates too low for too long to keep the economy humming along while Obama was still in office. The president elect accused Yellen of being politically... Read More
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In the West Junk Information And Junk Judgment Prevail
The Western world and that part of the world that partakes of Western explanations live in a fictional world. We see this everywhere we look—in the alleged machinations of Russia to elect Donald Trump president of the US, in claims that Saddam Hussein and his (nonexistent) weapons of mass destruction were a threat to the... Read More
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Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy? Why is the Fed raising interest rates when inflation is still well below its 2 percent target? Things are not always what they seem. In theory, the Fed’s low interest rates... Read More
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Trump’s economic plan has sent stocks ripping higher for six weeks straight. But what’s going to happen to stock prices when Congress gives Trump’s plan a big thumbs down? Has anyone thought about that yet? And what about the Fed? Does anyone seriously think that Fed chairman Janet Yellen is going to sit on her... Read More
Marty in Friendly Lounge, 2016
Within the shadow of 920-year-old Norwich Cathedral squats the 767-year-old Adam and Eve Pub. Both are spooky, inevitably. A decade ago, I was minding my own business, nursing a pint of Old Peculier, when the mugs above my head started to rattle, the ashtray flew off the bar and Lord Sheffield whispered in me ear,... Read More
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Brazil under Lula Da Silva 2003-2010
Introduction: Leftwing academics, writers and journalists have written tendentious articles where they manage to transform reactionary political leaders into working class heroes and present their dreadful policies as progressive advances. Recently, leftist pundits throughout US and Latin America have plagued the reading public with gross distortions of historical events contributing, in their own way, to... Read More
Category Classics
Which superpower is more threatened by its “extractive elites”?
The sources of America’s immigration problems—and a possible solution
ABC's Epic Steel-cage Smackdown