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I deplore the tax cut that has passed Congress. It is not an economic policy tax cut, and it has nothing whatsoever to do with supply-side economics. The entire purpose is to raise equity prices by providing equity owners with more capital gains and dividends. In other words, it is legislation that makes equity owners... Read More
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Shake Up and Shake Down
Introduction Major changes are roiling the states, societies and ruling classes of the biggest industrial economies, oil regimes and military complexes. China is re-allocating its economic wealth toward building the most extensive modern infrastructure system in history, linking four continents. Saudi Arabia is transferring a trillion dollars of pillage from princes to princes, from old... Read More
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Introduction to the German Edition
In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War I is that the United States has... Read More
Once upon a time the leftwing of the political spectrum was committed to the advancement of the working class and its protection from political and economic abuse by the owners of the means of production. Consequently, the leftwing was politically potent and reached a pinnacle of power when Henry Wallace was selected by Franklin D.... Read More
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2017 compared to 1917
Socialism flowered in the 19th century as a program to reform capitalism by raising labor’s status an
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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
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It should be called the Leona Helmsley tax plan, only the little people will pay taxes
S. Peries: It's the Real News Network. I'm Sharmini Peries coming to you from Baltimore. A general consensus is emerging that Trump's tax plan, which he presented last Wednesday will benefit mostly the country's upper classes and corporations. In fact the only people that got a tax increase are the poorest taxpayers. A quick scan... Read More
Photo by Kate Ausburn | CC BY 2.0
So the good news is, we’ve somehow survived the first nine months of Donald Trump’s presidency. The bad news is, not only is the country now remotely controlled by Vladimir Putin, but it appears we’re finally on the verge of the all-out Russo-Nazi dictatorship the Resistance has, for over a year, been hysterically warning us... Read More
Is there anyone in Trump’s government who is not an imbecile? After years of endless military threats against Russia—remember CIA deputy director Mike Morell saying on TV (Charlie Rose show) that the US should start killing Russians to give them a message, and Army Chief of Staff Mark Milley threatening “We’ll beat you harder than... Read More
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The fall of 2017 will witness the most brutal assault on working and middle class living standards since the end of World War II. Three presidents and their congressional allies will ‘revise’ labor legislation, progressive income tax laws and regulations and effectively end the mixed economy in France, the US and Brazil. Throughout the summer,... Read More
Photo by Charleston’s TheDigitel | CC BY 2.0
Interview with Vlado Plaga in the German magazine FAIRCONOMY, September 2017. Originally, you didn’t want to become an economist. How did it come that you changed your plans and digged so deep into economics? I found economics aesthetic, as beautiful as astronomy. I came to New York expecting to become an orchestra conductor, but I... Read More
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Sometime circa late July, as the hundreds of thousands of de facto vassals that cater to the needs of New York City’s simulated aristocracy were navigating the sweltering hell that subway system has recently become, approximately one hundred miles to the east, deep in the heart of Resistance territory, where villas rent for up to... Read More
Introduction After 6 months of blaming Russia for the Democratic Party’s Presidential election debacle, the Party stalwarts have finally realized that the American electorate is not listening. Democratic Party investigators in Washington still hold hearings and the mass media are still scandal mongering, but the public is not rallying to their cause. Trump’s demagogy may... Read More
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As everyone doubtless knows, President Trump gave the pot a hefty stirring in Warsaw, Poland prior to attending the G20 summit. His message was well-received by immediate listeners but aroused a Sturm und Drang and a half from the usual Western media suspects who couldn’t be more predictable if they tried. First of all, the... Read More
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Introduction Over the past quarter century progressive writers, activists and academics have followed a trajectory from left to right – with each presidential campaign seeming to move them further to the right. Beginning in the 1990’s progressives mobilized millions in opposition to wars, voicing demands for the transformation of the US’s corporate for-profit medical system... Read More
Introduction Throughout the US and European corporate and state media, right and left, we are told that ‘populism’ has become the overarching threat to democracy, freedom and . . . free markets. The media’s ‘anti-populism’ campaign has been used and abused by ruling elites and their academic and intellectual camp followers as the principal weapon... Read More
Bravo Monsieur le president Macron! You have gotten off to a most impressive start. France’s five-year national depression – known as ‘morosité – has lifted and been replaced by a sense that the republic is not doomed after all. In fact, quite the contrary. France’s new 39-year old president has astounded nearly everyone. Like the... Read More
My mother, Patricia Cockburn, joined the Air-Raid Precautions (ARP) in 1939 and worked at the “Northern Control Centre” in a large cellar deep under Praed Street in Paddington through the early months of the Blitz. This is about two and a half miles from where Grenfell Tower was to be built 35 years later. She... Read More
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This year the Dead Zone in the Gulf of Mexico is expected to grow larger than ever. Oceanologists predict the lifeless expanse of water below the Mississippi River Delta will swell to an area bigger than the state of Vermont, an aquatic ecosystem despoiled by industrial fertilizers, pesticides, herbicides, oil leaks and the lethal effects... 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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Introduction The most striking feature of recent elections is not ‘who won or who lost’, nor is it the personalities, parties and programs. The dominant characteristic of the elections is the widespread repudiation of the electoral system, political campaigns, parties and candidates. Across the world, majorities and pluralities of citizens of voting age refuse to... Read More
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The shocking election result in the United Kingdom – the Conservatives losing their majority and the creation of a hung Parliament; and Jeremy Corbyn being more successful than any recent Labor candidate – cutting a 20 point Theresa May lead down to a near tie – gives hope to many that the global shift to... Read More
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The Winners-Take-All Regime of Emmanuel Macron
A ghost of the past was the real winner of the French presidential election. Emmanuel Macron won only because a majority felt they had to vote against the ghost of “fascism” allegedly embodied by his opponent, Marine Le Pen. Whether out of panic or out of the need to feel respectable, the French voted two... Read More
Reversing Five Decades of Working-Class Power
Introduction: Whatever has been written about President Emmanuel Macron by the yellow or the respectable press has been mere trivia or total falsehood. Media lies have a purpose that goes beyond Macron’s election. Throughout Europe and North America, bankers and manufacturers, NATO, militarists and EU oligarchs, media moguls and verbal assassins, academics and journalists, all... Read More
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America’s Great Leap Backwards
Introduction: For almost 50 years, the US economy and society has taken a great leap backward - accelerating during the past three Presidencies. Not only have we experienced the reversal of past socio-economic legislation, but also our presidents and Congress have dragged us into multiple aggressive wars. Now, the threat of a nuclear attack against... Read More
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For Russians, "Aurora" is not the Goddess of Dawn; it is first of all the battleship Aurora, the legendary cruiser whose thundering salvo over the Winter Palace had started the Russian Revolution in November 1917. Recently I participated in a conference commemorating the 100th anniversary of the Russian Revolution in the Mirror of World Left... Read More
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Introduction: Every day in unimaginable ways, prominent leaders from the left and the right, from bankers to Parisian intellectuals, are fabricating stories and pushing slogans that denigrate presidential candidate Marine Le Pen.… They obfuscate her program, substituting the label ‘extremist’ for her pro-working class and anti-imperialist commitment. Fear and envy over the fact that a... Read More
The ‘Traitor of the Year Award’
Introduction: While the Right faithfully supports the policies and interests of its ruling class supporters, the Left has systematically betrayed their political platform promises and deceived its working class, salaried employees, small business and regional supporters. Historic reversals have happened in rapid succession by Leftist leaders, including greater oligarch control over the economy, more dictatorial... Read More
I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have... 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
If you want to learn real economics instead of neoliberal junk economics, read Michael Hudson’s books. What you will learn is that neoliberal economics is an apology for the rentier class and the large banks that have succeeded in financializing the economy, shifting consumer spending power from the purchase of goods and services that drive... 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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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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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
In 2008, the American people voted overwhelmingly for change. They never got it. Hence, Trump. To pretend there's no connection between Obama's failed presidency and the subsequent rise of Donald John Trump, is to ignore the obvious and shrug off responsibility for the situation the country is in today. Obama created Trump, the man didn't... Read More
On several occasions I have asked in my columns the rhetorical question: What became of the left? Today I answer my question. The answer is that the European and American left, which traditionally stood for the working class and peace (bread and peace) no longer exists. The cause championed by those who pretend to be... 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
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While the word was focused in rapt attention on the outcome of the US Presidential election, Vladimir Putin did something quite amazing – he arrested Alexei Uliukaev, Minister of the Economy in the Medvedev government, on charges of extortion and corruption. Uliukaev, whose telephone had been tapped by the Russian Security Services since this summer,... Read More
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It’s Time for the Clintons, Rubin to Go – and Soros too
In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered... Read More
Protectionist Trumponomics vs. Neoliberalism
Donald Trump’s red wave on Election Day was an unprecedented body blow against neoliberalism. The stupid early-1990s prediction about the ‘end of history’ turned into a – possible – shock of the new. The new global nativism? Perhaps a new push towards democratic socialism? Too early to tell. Once again. A body blow, not a... Read More
Without resorting too much to the wisdom of the ancient Greek myths, we have come to believe that states, regimes, movements and people finally will emerge to act as the inescapable agents of the justice leading to the downfall of the Western empire ‘Nemesis, Winged balancer of life, dark-faced goddess, daughter of Justice’ Introduction Seven... Read More
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Pre-mature Political and Military Ejaculations
Introduction: Wall Street and the Pentagon greeted the onset of 2016 as a ‘banner year’, a glorious turning point in the quest for malleable regimes willing to sell-off the most lucrative economic resources, to sign off on onerous new debt to Wall Street and to grant use of their strategic military bases to the Pentagon.... Read More
William Engdahl recently explained how Washington used the corrupt Brazilian elite, which answers to Washington, to remove the duly elected President of Brazil, Dilma Rousseff, for representing the Brazilian people rather than the interests of Washington. Unable to see through the propaganda of unproven charges, Brazilians acquiesced in the removal of their protector, thereby providing... Read More
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Introduction: Large-scale political and economic challenges are confronting the US multi-national corporate elite. Apple, Google, Facebook, Microsoft, Pfizer and scores of other multinational tax evaders are facing the triple threat of multi-billion dollar fines, the redistribution of their wealth and the possible reintroduction of equitable socio-economic programs, which could undermine their power. Washington-backed exporters and... Read More
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According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most of the capital flight to the... Read More
Introduction: Amid raging corruption, social pathologies and outright political thuggery, a new gang of vassal regimes has taken-over Latin America. The new rulers are strictly recruited as the protégé’s of US financial and banking institutions. Hence the financial press refers to them as the “new managers” - of Wall Street. The US financial media has... Read More
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Neoliberalism, Interventionism, the Resource Curse, and a Fragmenting World
We live in an age of disintegration. Nowhere is this more evident than in the Greater Middle East and Africa. Across the vast swath of territory between Pakistan and Nigeria, there are at least seven ongoing wars -- in Afghanistan, Iraq, Syria, Yemen, Libya, Somalia, and South Sudan. These conflicts are extraordinarily destructive. They are... Read More
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GREGORY WILPERT, TRNN: Welcome to the Real News Network. I'’m Gregory Wilpert, coming to you from Quito, referendum in favor of leaving, or exiting, the European Union, the Brexit referendum, as the results are known, won with 52 percent of the vote on Thursday, June 23, stunning Europe’s political establishment. One of the issues that... Read More
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Neoliberal policy will pressure U.S. citizens to emigrate, just as it caused millions to leave Russia, the Baltic States, and now Greece in search of a better life.
A research team from Columbia University’s Mailman School of Public Health in New York estimates 875,000 deaths in the United States in year 2000 could be attributed to social factors related to poverty and income to U.S. government statistics, 2.45 million Americans died in the same year. When compared to the Columbia research team’s finding,... Read More
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PastClassics
The unspoken statistical reality of urban crime over the last quarter century.
The “war hero” candidate buried information about POWs left behind in Vietnam.
The major media overlooked Communist spies and Madoff’s fraud. What are they missing today?
What Was John McCain's True Wartime Record in Vietnam?