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Photo by Francisco Osorio | CC BY 2.0
Thank God for the corporate media. If it wasn’t for them, and the ADL, I’d have probably never discovered that I’m a Nazi. Apparently, I’ve been one for quite some time … which is weird, as I had no idea. Here I was, naively believing that I’d been writing about global capitalism and the realignment... Read More
From John Williams proprietary report: “Subject to Likely Downside Annual Benchmark Revisions this Coming Friday, February Industrial Production Jumped by 1.1% (0.9% Net of Revisions), Reflecting improbable Strength in Manufacturing and Mining. “Despite this perhaps premature report of industrial production gains, Given a Record 122 Months of Non-Expansion, Manufacturing Still Holds Shy of Its Pre-Recession... Read More
According to the Bureau of Labor Statistics, the US economy added 313,000 jobs in the 28 days of February, causing a big jump in the Dow Jones average. Where does BLS find these jobs? The BLS finds 61,000 in construction, which, if correct, suggests in view of falling new and existing home sales, that those... Read More
Americans live a never-never-land existance. The politicians and presstitutes make sure of that. Consider something as simple as the unemployment rate. The US is said to have full employment with a January 2018 unemployment rate of 4.1 percent, down from 9.8 percent in January 2010.https://data.bls.gov/timeseries/LNS14000000 However, the low rate of unemployment is contradicted by the... Read More
New York, 2017
To go home, I had to take a taxi to Saigon’s airport, fly to Hanoi, then on to Hong Kong, where during a 5 ½ hour layover I’d take a train to Central to hang out a bit, then back to the airport to fly to JFK, then hop on two trains just to get... Read More
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(Lumpen Capitalism refers to an economic system in which the financial and military sector exploits the state treasury and productive economy for the 1% of the population.) Introduction US journalists and commentators, politicians and Sinologists spend considerable time and space speculating on the personality of China’s President Xi Jinping and his appointments to the leading... Read More
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That's the Rub, It Can't
In order to understand China and how the world works, I am very lucky to have lived here during two very different time periods. It started 1990-1997. In the first book of The China Trilogy, 44 Days Backpacking in China, I called this period the Wild East Deng Xiaoping Buckaroo Days. It was intense, crazy... Read More
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An interview with journalist Chris Hedges
On Monday, WSWS International Editorial Board Chairman David North interviewed Chris Hedges, the Pulitzer Prize-winning journalist, author, lecturer and former New York Times correspondent. Among Hedges’ best-known books are War is a Force That Gives Us Meaning, The Death of the Liberal Class, Empire of Illusion: the End of Literacy and the Triumph of Spectacle,... Read More
Do the Wall Street Journal’s editorial page editors read their own newspaper? The frontpage headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out correctly that an economy alleged... Read More
The American media specializes in fake news. Indeed, since the Clinton regime the American media has produced nothing but fake news. Do you remember the illegal US bombing and destruction of Yugoslavia? Do you remember “war criminal” Slobodan Milosevic, the Serbian president branded “the butcher of the Balkans,” who was compared to Hitler until Hillary... 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
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
This time it is about employment
The US government continues to lie about everything, not just Russia, Syria, Iran, and China. The US government is incapable of telling the truth about something as straightforward as employment. According to the government, March produced only 98,000 new payroll jobs, an insufficient amount to reduce unemployment, but the unemployment rate fell from 4.7 to... Read More
I just had a disastrous and embarrassing interaction with Bloomberg, and feel that I was ambushed and sandbagged by having my comments taken out of context in a hit piece Bloomberg’s journalists wrote on Venezuela – evidently trying to distort my own views in a two-for-one job. On Monday, March 27, I received a message... 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
According to official US economic data, the US Gross Domestic Product (GDP) has expanded for 22 quarters, raising real GDP 12.1% above its high prior to the 2008-09 economic contraction. Yet, US manufacturing output and US industrial production have not recovered to their pre-contraction high. So what is driving the real GDP growth? In my... Read More
Hiding How the Economy Really Works
Michael Hudson, author of the newly released J is for Junk Economics, says the media and academia use well-crafted euphemisms to conceal how the economy really works SHARMINI PERIES: Michael Hudson is a distinguished research professor of economics at the University of Missouri, Kansas City. He’s the author of many books including, “The Bubble and... 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
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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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The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It... Read More
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Is Inequality Really Good for the Economy?
To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it. What they do is to use “inequality” as a takeoff point to project their own views on how to make society more prosperous and at the same time more equal. These views largely depend on whether they view the One Percent... Read More
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To recast a famous philosophical conundrum, what would happen if hundreds of thousands of Americans died, but the media never reported that calamity? I spend hours each morning closely reading the print editions of my daily newspapers, and for over a decade that question has seemed real rather than merely hypothetical. The reason may be... Read More
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How the Media Hide Undocumented Workers
In our post-modern (or post-post-modern?) age, we are supposedly transcending the material certainties of the past. The virtual world of the Internet is replacing the “real,” material world, as theory asks us to question the very notion of reality. Yet that virtual world turns out to rely heavily on some distinctly old systems and realities,... Read More
There has been a concerted campaign to depict the South China Sea as an indispensable artery for commercial shipping and, therefore, a justifiable object of US attention and meddling. This flagship of this effort is invoking the “$5 trillion dollars” worth of goods that pass through the SCS each year. Reuters, in particular, is addicted... Read More
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Here Are the Lessons of History the Press Ignores
“You cannot hope to bribe or twist – thank God! – the British journalist. But, seeing what the man will do unbribed, there’s no occasion to.” So wrote the witty early twentieth century British man of letters Humbert Wolfe. His assessment of American journalists isn’t recorded but, where pivotal issues are concerned, they have probably... Read More
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Distortion, Fabrication and Falsification in the Financial Press
Introduction: With the collapse of the Communist countries in the 1990’s and their conversion to capitalism, followed by the advent of neo-liberal regimes throughout most of Latin America, Asia, Europe and North America, the imperial regimes in the US and EU have established a new political spectrum, in which the standards of acceptability narrowed and... Read More
The great problem with corporate capitalism is that publicly owned companies have short time horizons. Unlike a privately owned business, the top executives of a publicly owned corporation generally come to their positions late in life. Consequently, they have a few years in which to make their fortune. As a consequence of the short-sightedness of... Read More
The question is often asked: “What can we do?” Here is a prescription for peace and prosperity. We will begin with prosperity, because prosperity can contribute to peace. Sometimes governments begin wars in order to distract from unpromising economic prospects, and internal political stability can also be dependent on prosperity. The Road to Prosperity For... Read More
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A $10,000 Invitation to FT Editor-in-chief Lionel Barber
Dear Lionel: I refer to your public assurances that the Financial Times’s independence will not be compromised by the Nikkei takeover. You are misinformed. Frankly, I concur with the BBC’s economics editor Robert Peston who has tweeted that this is a “desperately sad” moment. As you know, I have spent 27 years covering finance and... Read More
May 8. Today’s payroll jobs report is more of the same. The Bureau of Labor Statistics claims that 223,000 new jobs were created in April. Let’s accept the claim and see where the jobs are. Specialty trade contractors are credited with 41,000 jobs equally split between residential and nonresidential. I believe these are home and... Read More
When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss france shot up. As in the US, quantitative easing (QE)... Read More
Friday’s payroll jobs report is another government fairy tale or, to avoid polite euphemisms, another packet of lies just like the House of Representatives Resolution against Russia and every other statement that comes out of Washington. Washington is averse to truth. Washington can only lie. First let’s pretend that the 321,000 new jobs that the... Read More
How many times have you been told that America’s future lies in services? That America boasts a specially efficient service culture, and that in the fullness of time superior productivity will enable American service industries to close the nation’s perennially yawning trade gap? The “Services Superpower” story has been going strong since at least as... Read More
And More Fraud Is in the Works
Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality. In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the... Read More
The New York Times has acquired a new Judith Miller
Libertarian ideology favors privatization. However, in practice privatization is usually very different in result than libertarian ideology postulates. Almost always, privatization becomes a way for well-connected private interests to loot both the public purse and the general welfare. Most privatizations, such as those that have occurred in France and UK during the neoliberal era, and... Read More
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The New York Times and the Fed's Transcripts
There’s good propaganda and bad propaganda. Bad propaganda is generally crude, amateurish Judy Miller “mobile weapons lab-type” nonsense that figures that people are so stupid they’ll believe anything that appears in “the paper of record.” Good propaganda, on the other hand, uses factual, sometimes documented material in a coordinated campaign with the other major media... Read More
One of the most hilarious media hoaxes of all time was the BBC’s famous “spaghetti harvest” spoof of 1957. In a television “documentary” broadcast on April 1 of that year, a deadpan Richard Dimbleby, then the BBC’s most prominent presenter, reported that spaghetti grew on special “spaghetti trees” and that farmers in an Italian-speaking canton... Read More
Credit: Intelligence Squared
Views change about massive immigration once both sides of the issue are heard
Last week I took a brief break from two months of concentrated software development effort on my new publication The Unz Review to travel to NYC for a debate on a hypothetical “Open Borders” proposal for private employment, one in a long series of such public events produced by Intelligence Squared. The event was carried... Read More
American newspapers have long been notorious for the credulousness of their foreign correspondents. But even by the American press’s normal standards, the Washington Post excelled itself the other day. Its Tokyo correspondent, Max Fisher, reported in all seriousness that the Japanese are not getting enough sex. He added: “This is more than a story about... Read More
Informed Americans think they know all about the Madoff affair: for decades charismatic fund manager Bernard Madoff ran a Ponzi scheme, thereby bilking the cream of New York society, but he was eventually found out and jailed. What is less well known – and far more geopolitically important – is what the Madoff affair says... Read More
The U.S. Defense Science Board’s reportHigh Performance Microchip Supply ranks as probably the most devastating ever account of the speed and extent of American decline. Why therefore has it been completely overlooked, or should I say suppressed, by America’s mainstream media? As I pointed out last week, the report, issued as far back as 2005,... Read More
An Interview with Cindy Sheehan
MIKE WHITNEY: President Barack Obama recently visited Dover Air Force Base where he was photographed with the flag-draped coffins of soldiers who were killed in Afghanistan and Iraq. Why did Obama do this and what was your reaction? Cindy Sheehan: "I think Obama did this as a publicity stunt and used the dead troops (that... Read More
Category Classics
Which superpower is more threatened by its “extractive elites”?
The sources of America’s immigration problems—and a possible solution