Trump’s Trade War and the Emerging Corporatist-Fascist State

trump’s-trade-war-and-the-emerging-corporatist-fascist-state

11-09-19 01:53:00,

Drawing by Nathaniel St. Clair

President Donald Trump’s fit over China speaks to the rise of neofascism in American politics, at a time when neither Congress nor the courts are showing any interest in rolling back presidential power. Trump’s unique brand of neofascism first emerged in the form of his attempt to crack down on journalistic critics for “treason,” and via the onset of his white ethno-nationalist, which he declared via a “state of emergency” that allowed him to criminalize immigrants in “concentration camp”-style detainment settings, and to confiscate taxpayer funds to build a wall with Mexico that was never authorized by Congress. This nascent fascism is quickly morphing into full-blown fascism, via Trump’s efforts to dictate the rules of investment to U.S. corporations, and in relation to his emerging trade war with China.

In late August, Trump announced he would intensify the trade war against China, with the imposition of an additional 5 percent duty on $250 billion in Chinese goods, reaching a 30 percent tax by October 1st, coupled with a 15 percent tax – over his previous 10 percent planned rate – on another $300 billion of imports, to take effect on September 1st. The major controversy is not Trump’s saber rattling with China, but his attempt to unilaterally require that American corporations no longer do business in China. As Trump announced on Twitter, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing our companies HOME and making your products in the USA.” This “order” was political in motivation, in line with Trump’s “America First” agenda, and as reflected in his announcement that “We don’t need China and, frankly, would be far better off without them.”

For those who would defend the neofascist in chief for making merely “tongue and cheek” comments by “ordering” U.S. corporations around, the president was having none of it. He elaborated via Twitter that his mandate to American corporations was permissible under the International Emergency Economic Powers Act of 1977, a law the New York Times reports “has been used mainly to target terrorists” and “drug traffickers,” and “originally meant to enable a president to isolate criminal regimes,

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Trade Wars Are a Fool’s Game – Global Research

trade-wars-are-a-fool’s-game-–-global-research

09-09-19 07:54:00,

According to the great military thinker, Maj. Gen. J.F.C. Fuller, ‘the object of war is not victory. It is to achieve political goals.’

Too bad President Donald Trump does not read books. He has started economic wars against China, Russia, Iran, Cuba and Venezuela without any clear strategic objective beyond inflating his ego as the world’s premier warlord and punishing them for disobedience.

Trump’s wars are economic. They deploy the huge economic and financial might of the United States to steamroll other nations that fail to comply with orders from Washington. Washington’s motto is ‘obey me or else!’ Economic wars are not bloodless. Imperial Germany and the Central Powers were starved into surrender in 1918 by a crushing British naval blockade.

Trade sanctions are not making America great, as Trump claims. They are making America detested around the globe as a crude bully. Trump’s efforts to undermine the European Union and intimidate Canada add to this ugly, brutal image.

Worse, Trump’s tariff war against China has damaged the economy of both nations, the world’s leading economic powers, and raised tensions in Asia. The world is facing recession in large part due to Trump’s ill-advised wars. All to prove Trump’s power and glory.

Trump and his advisors are right about China’s often questionable trade practices. I did 15 years of business in China and saw a kaleidoscope of chicanery, double-dealing, and corruption. A favorite Chinese trick was to leave imports baking in the sun on the docks, or long delaying them by ‘losing’ paperwork.

I saw every kind of craziness in the Wild East Chinese market. But remember that it’s a ‘new’ market in which western-style capitalism is only one generation old. Besides, China learned many of its fishy trade practices from France, that mother of mercantilism.

China indeed steals technical and military information on a mass scale. But so does the US, whose spy agencies suck up information across the world. America’s claims to be a victim are pretty rich.

What Trump & Co don’t understand is that China was allowed into America’s Greater Asia Co-Prosperity Sphere by the clever President Nixon to bring it under US influence – just as Japan and South Korea were in the 1950’s.

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Ron Paul: Trump Trade War “Not Root Cause Of Downturn”, The Fed Is!

ron-paul:-trump-trade-war-“not-root-cause-of-downturn”,-the-fed-is!

20-08-19 07:51:00,

While the establishment is desperate to ensure President Trump (and the nationalist deplorables) is “obviously” to blame for whatever bad things happen in the global economy, Ron Paul brushes aside the smoke and mirrors to get to the real driver of economic boom and bust for decades – The Fed!

Via The Ron Paul Institute for Peace & Prosperity,

Stocks fell last week following news that the yield curve on Treasury notes had inverted. This means that a short-term Treasury note was paying higher interest rates than long-term Treasury note. An inverted yield curve is widely seen as a sign of an impending recession.

Some economic commentators reacted to the inverted yield curve by parroting the Keynesian propaganda that recessions are an inevitable feature of a free-market economy, whose negative effects can only be mitigated by the Federal Reserve. Like much of the conventional economic wisdom, the idea that recessions are caused by the free market and cured by the Federal Reserve is the exact opposite of the truth.

Interest rates are the price of money. Like all prices, they should be set by the market in order to accurately convey information about economic conditions. When the Federal Reserve lowers interest rates, it distorts those signals. This leads investors and businesses to misjudge the true state of the economy, resulting in misallocations of resources. These misallocations can create an economic boom. However, since the boom is rooted in misperceptions of the true state of the economy, it cannot last. Eventually the Federal Reserve-created bubble bursts, resulting in a recession.

So, recessions are not a feature of the free market. Instead, they are an inevitable result of Congress granting a secretive central bank power to influence the price of money. While monetary policy may be the prime culprit, government tax and regulatory policies also damage the economy. Many regulations, such as the minimum wage and occupational licensing, inflict much harm on the same low-income people that the economic interventionists claim benefit the most from the welfare-regulatory state.

The best thing for Congress and the Federal Reserve to do after the bubble bursts is to let the recession run its course. Recessions are painful but necessary if the economy is going to heal from the damage done by government’s inflate-tax-borrow-spend-and-inflate-some-more policies.

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Memo to Trump: Trade Bolton for Tulsi

memo-to-trump:-trade-bolton-for-tulsi

28-06-19 09:38:00,

“For too long our leaders have failed us, taking us into one regime change war after the next, leading us into a new Cold War and arms race, costing us trillions of our hard-earned tax payer dollars and countless lives. This insanity must end.”

Donald Trump, circa 2016?

Nope. That denunciation of John Bolton interventionism came from Congresswoman Tulsi Gabbard of Hawaii during Wednesday night’s Democratic debate. At 38, she was the youngest candidate on stage.

Gabbard proceeded to rip both the “president and his chickenhawk cabinet (who) have led us to the brink of war with Iran.”

In a fiery exchange, Congressman Tim Ryan of Ohio countered that America cannot disengage from Afghanistan: “When we weren’t in there they started flying planes into our buildings.”

“The Taliban didn’t attack us on 9/11,” Gabbard replied, “Al-Qaida attacked us on 9/11. That’s why I and so many other people joined the military, to go after al-Qaida, not the Taliban.”

When Ryan insisted we must stay engaged, Gabbard shot back:

“Is that what you will tell the parents of those two soldiers who were just killed in Afghanistan? ‘Well, we just have to be engaged.’ As a solider, I will tell you, that answer is unacceptable. … We are no better off in Afghanistan that we were when this war began.”

By debate’s end, Gabbard was the runaway winner in both the Drudge Report and Washington Examiner polls and was far in front among all the Democratic candidates whose names were being searched on Google.

Though given less than seven minutes of speaking time in a two-hour debate, she could not have used that time more effectively. And her performance may shake up the Democratic race.

If she can rise a few points above her 1-2% in the polls, she could be assured a spot in the second round of debates.

If she is, moderators will now go to her with questions of foreign policy issues that would not have been raised without her presence, and these questions will expose the hidden divisions in the Democratic Party.

Leading Democratic candidates could be asked to declare what U.S. policy should be — not only toward Afghanistan but Iraq,

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Who will cash in on US trade wars & how to get around the tariffs? RT’s Boom Bust has the answer

who-will-cash-in-on-us-trade-wars-&-how-to-get-around-the-tariffs?-rt’s-boom-bust-has-the-answer

23-05-19 07:03:00,

While the trade dispute between the US and China is leaving scores of companies in a state of confusion and uncertainty, some beneficiaries are emerging.

RT’s Boom Bust talked to Richard Wolff, a professor emeritus of economics at the University of Massachusetts, to find out which nations may capitalize on the trade turmoil, and if China would inevitably lose its former markets, including the US.

According to the expert, domestic and foreign companies in China started looking for the cheapest labor across Asia and all over the world long before the tariffs due to the dramatic increase in wage costs in China. Professor Wolff stressed that there are many ways, legal or illegal, to get around the import tariffs.

Also on rt.com
Mass exodus of US firms from China amid trade war won’t mean they’ll be coming home, survey shows

“For example, long before the US even recognized the People’s Republic of China, the quantity of goods coming into the US labeled ‘Made in Hong Kong’ was incredible,” the economist said, stressing that everybody understood that those products were made in China, shipped to Hong Kong, shipped out with changed labels, and “everybody gets along.”

Wolff believes that the Chinese are clever and have had a lot of experience in how to avoid tariffs and keep doing business.

”A lot of countries around the world, not just in Asia, but everywhere, are willing to cooperate, because then they get a piece of the trade between China and the US,” he said.

For more stories on economy & finance visit RT’s business section

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Global Arms Trade: USA Increases Dominance; Arms Flows to the Middle East Surge, Says SIPRI – Global Research

global-arms-trade-usa-increases-dominance-arms-flows-to-the-middle-east-surge-says-sipri-8211-global-research

02-04-19 02:01:00,

The volume of international transfers of major arms in 2014–18 was 7.8 per cent higher than in 2009–13 and 23 per cent higher than in 2004–2008, according to new data on arms transfers published today by the Stockholm International Peace Research Institute (SIPRI).

The five largest exporters in 2014–18 were the United States, Russia, France, Germany and China. Together, they accounted for 75 per cent of the total volume of arms exports in 2014–18. The flow of arms increased to the Middle East between 2009–13 and 2014–18, while there was a decrease in flows to all other regions.

The gap between the USA and other arms exporters widens

US arms exports grew by 29 per cent between 2009–13 and 2014–18, and the US share of total global exports rose from 30 per cent to 36 per cent. The gap between the top two arms-exporting states also increased: US exports of major arms were 75 per cent higher than Russia’s in 2014–18, while they were only 12 per cent higher in 2009–13. More than half (52 per cent) of US arms exports went to the Middle East in 2014–18.

‘The USA has further solidified its position as the world’s leading arms supplier,’ says Dr Aude Fleurant, Director of the SIPRI Arms and Military Expenditure Programme. ‘The USA exported arms to at least 98 countries in the past five years; these deliveries often included advanced weapons such as combat aircraft, short-range cruise and ballistic missiles, and large numbers of guided bombs.’

Arms exports by Russia decreased by 17 per cent between 2009–13 and 2014–18, in particular due to the reduction in arms imports by India and Venezuela. Between 2009–13 and 2014–18 France increased its arms exports by 43 per cent and Germany by 13 per cent. The combined arms exports of European Union member states accounted for 27 per cent of global arms exports in 2014–18.

Global arms trade: USA increases dominance; arms flows to the Middle East surge, says SIPRI

The trend in international transfers of major weapons, 1979—2018. Data and graphic: SIPRI

A small number of countries outside Europe and North America are large arms exporters. China was the fifth largest arms exporter in 2014–18. Whereas Chinese arms exports rose by 195 per cent between 2004–2008 and 2009–13, they increased by only 2.7 per cent between 2009–13 and 2014–18.

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Enough “Free Trade.” We Need Solidarity Economies and Reparations.

enough-8220free-trade8221-we-need-solidarity-economies-and-reparations.

20-01-19 04:13:00,

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“Free trade” is the modern form that imperialism takes: It is a system that protects and expands inequalities of power both between and within countries. “Free trade” empowers global North multinational corporations to continue — with minimal interference and tacit approval from global South governments — the unequal trade they developed with the global South during colonialism. Further, it allows global North multinationals (with their junior partners, global South multinationals) to increase inequality around the world by pitting working class people in the global North and global South against one another.

Another way is possible. In order to build a progressive international political economy that produces material dignity and freedom for all the world’s people, we need to engage three distinct yet interrelated projects. We can build each project, piece by piece, advancing all three at the same time. The vision for what the three projects become can help us continue to build popular support as we advance each of the projects toward creating a transformed and democratic world economy.

First, we need trade agreements that include strong labor, environmental and antitrust regulation in all countries, and agreements that end offshore tax havens for the wealthy and create fair access to markets for global South producers. These agreements can allow us to rapidly address some of the worst multinational corporate abuses. They can also create space for us to continue to build the other two projects, especially the solidarity economy institutions that can become the base for popular progressive power that we will need in order to organize to create a transformed world economy.

Second, we need democratic international institutions that transfer technology and productive wealth from the global North to the global South so that we can begin to undo the ongoing violence of centuries of colonialism and imperialism.

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“Free Trade” Is Today’s Imperialism by the 1 Percent

8220free-trade8221-is-todays-imperialism-by-the-1-percent

13-01-19 04:26:00,

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Opposition to “free” trade is clearly growing — both the progressive and the corporate elements of the Democratic Party are now critical of agreements like the North American Free Trade Agreement and the Trans-Pacific Partnership. Less clear are the alternatives to free trade that might emerge. As progressives continue to build power inside and outside of the Democratic Party, we must clarify our understanding of the international political economy, and imagine and begin to build real alternatives to free trade. Building these alternatives must become an essential component of a more progressive US foreign policy.

The conventional wisdom says that if you oppose free trade, you must support protectionism or economic nationalism. This is misleading. There is no such thing as “free” trade. People create all of the systems that govern our political economy. These systems inevitably favor certain human activities over others, and we can design them to act any way that we want. The important question is: For whom are trade policies “free”? Put another way: Who do trade policies favor?

Debunking “Free” Trade

“Free” trade is free only for capital owners: the plutocratic few who own and control multinational corporations. When countries enter into free trade agreements, the governments of both countries effectively agree that their laws will not favor businesses from their country over businesses from any other countries. The main way that free trade does this is by attempting to reduce all tariffs to as close to 0 percent as possible, to eliminate import quotas that countries can use to limit the amount and types of goods imported from specified countries, and to discourage countries from more directly subsidizing their own businesses.

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‘Trade War = War’ – Some Confucian Calm, Please!

8216trade-war-war8217-8211-some-confucian-calm-please

07-01-19 10:05:00,

Via EricMargolis.com,

The United States and China look like two punch-drunk prizefighters squaring off for a major championship fight. They have no good reason to fight and every reason to cooperate now that both their stock markets have been in turmoil.

Six hundred point market swings down and then up look like symptoms of economic nervous breakdown.

Factions in both nations are beating the war drums, putting presidents Donald Trump and Xi Jinping under growing pressure to be more aggressive.

Trump shoulders much of the blame for having started this unnecessary confrontation by imposing heavy duties on Chinese goods. The US president has turned the old maxim on its head that nations that trade heavily don’t go to war. The US and China, both huge trading partners, appear headed to military clashes, or even full scale war, if their governments don’t come to their senses soon.

Trump was clearly trying to bully China into major trade concessions and better commercial behavior. He is right about this. I’ve done business in China for over 15 years and seen every kind of chicanery, fakery and double-dealing imaginable. China learned from the French that the First Commandment is ‘Thou Shalt Not Import.’

The Japanese are no better. I recall Japanese health authorities telling my pharma firm that all our tablets had to be triangular shaped to make them nearly impossible to swallow.

Theft of technology is indeed rampant, as Trump asserts. But has he looked into CIA and NSA’s techno spying recently? They ransacked the Soviet Union during its last dying days. Much of our postwar missile technology was developed by German scientists spirited off to the USA. After the Sputnik launch in 1957, I recall seeing a German cartoon showing a Soviet and US satellite in orbit next to one another. One whispers to the other, ‘Now that we’re alone, let’s speak German!’

Meanwhile, US warships are patrolling the South China Sea and playing chicken with Chinese naval units and aircraft. It’s only a matter of time before a dangerous incident occurs that could spark a real shooting war. The Trump White House has been encouraging India to challenge China at sea and in the high Himalayas.

Beijing has pulled the rug out from under Apple sales in China,

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This is What The “Trade” War With China Is Really All About

this-is-what-the-8220trade8221-war-with-china-is-really-all-about

11-12-18 03:50:00,

Forget soybeans, auto imports, iPhones, crude oil, and cheap Chinese gadgets. Also forget tariffs, duties, and subsidies. Even forget weapons.

The real reason behind the US-China “trade” war has little to do with actual trade, and everything to do with what China’s president, Xi Jinping, said when he visited a memory chip plant in the city of Wuhan earlier this year. In a white lab coat, he made an unexpectedly sentimental remark, comparing a computer chip to a human heart: “No matter how big a person is, he or she can never be strong without a sound and strong heart”.

What is really at the basis of the ongoing civilizational conflict between the US and China, a feud which many say has gradually devolved into a new cold war if few top politicians are willing to call it for what it is, are China’s ambitions to be a leader in next-generation technology, such as artificial intelligence, which rest on whether or not it can design and manufacture cutting-edge chips, and is why Xi has pledged at least $150 billion to build up the sector.

But, as the FT notes, China’s plan has alarmed the US, and chips, or semiconductors, have become the central battlefield in the trade war between the two countries. And it is a battle in which China has a very visible Achilles heel.

Even with the so-called truce between the two sides signed last weekend, and which promptly unraveled after the Huawei CFO’s arrest was unveiled last week, Washington plans to ramp up export controls next year on so-called foundational technologies — those that can enable development in a broad range of sectors — and the equipment for manufacturing chips is one of the key target areas under discussion.

This is a concern for China as the $412 billion global semiconductor industry rests on the shoulders of just six equipment companies, with three of them based in the US. Together, these companies make nearly all of the crucial hardware and software tools needed to manufacture chips, meaning an American export ban would choke off China’s access to the basic tools needed to make their latest chip designs.

“You cannot build a semiconductor facility without using the big major equipment companies,

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Trump ‘Trade War’ Hides Military Industrial Agenda | New Eastern Outlook

trump-trade-war-hides-military-industrial-agenda-new-eastern-outlook

13-11-18 09:02:00,

madeinchina

In geopolitics events are rarely what they seem to be. This is especially true when we look more closely at the otherwise bizarre “war” launched this spring under the guise of trade war, supposedly redressing America’s huge annual balance of trade deficits, the most extreme being that with China. The true driver behind Washington’s otherwise inexplicable tariff war attacks on especially China make sense when we view them through the prism of a new Administration report on the defense industrial base of the United States.

In early October a US Government inter-agency Task Force, headed by the Department of Defense (DoD) released the unclassified part of a year-long study on the domestic industrial base required to provide vital components and raw materials for the US military. Titled “Report Assessing and Strengthening the Manufacturing and Defense Industrial Base and Supply Chain Resiliency of the United States,” the Interagency Task Force document was commissioned a year ago in a little-noted Executive Order 13806 of the US President.

The report is the first such detailed analysis of the adequacy or lack of, of the industrial supply chain that feeds vital components to the US Military in recent years.

The 300 Gaps

The declassified version of the report is shocking enough. It cites a laundry list of 300 “gaps” or vulnerabilities in the US military industrial base.  What it reveals in stark detail is a national economy no longer able to support the most basic essentials of a national defense, a direct consequence of the economies of globalization and offshore outsourcing. It details dramatic shortages of skilled workers in areas such as machine tooling, welding, engineering. Vital machinery such as numerically-controlled machine tools must be imported, most from Germany, which has not the best relations with Washington at present. Many of the small, specialized suppliers of key sub-components are single-source suppliers many on the brink of insolvency owing to US Budget uncertainties in recent years. And the US defense industry is dependent on China for virtually all its rare earth metals. Since the 1980’s US domestic mining of the metals has virtually collapsed for economic reasons as suppliers turned to China for far cheaper sources. Today 81% of world rare earth metals needed in military equipment,

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US-China trade war heats up as surplus hits record $34 Billion (Video)

US-China trade war heats up as surplus hits record $34 Billion (Video)

17-10-18 06:26:00,

According to a report by the AFP, China’s trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

Relations between the world’s two largest economies have soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink.

The two countries imposed new tariffs on a massive amount of each other’s goods mid-September, with the US targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of US goods.

“China-US trade friction has caused trouble and pounded our foreign trade development,” customs spokesman Li Kuiwen told reporters Friday.

But China’s trade surplus with the US grew 10 percent in September from a record $31 billion in August, according to China’s customs administration. It was a 22 percent jump from the same month last year.

China’s exports to the US rose to $46.7 billion while imports slumped to $12.6 billion.

China’s overall trade — what it buys and sells with all countries including the US — logged a $31.7 billion surplus, as exports rose faster than imports.

Exports jumped 14.5 percent for September on-year, beating forecasts from analysts polled by Bloomberg News, while imports rose 14.3 percent on-year.

While the data showed China’s trade remained strong for the month, analysts forecast the trade war will start to hurt in coming months.

China’s export jump for the month suggests exporters were shipping goods early to beat the latest tariffs, said ANZ’s China economist Betty Wang, citing the bounce in electrical machinery exports, much of which faced the looming duties.

“We will watch for downside risks to China’s exports” in the fourth quarter, Wang said.

Analysts say a sharp depreciation of the yuan has also helped China weather the tariffs by making its exports cheaper.

“The big picture is the Chinese exports have so far held up well in the face of escalating trade tensions and cooling global growth, most likely thanks to the competitiveness boost provided by a weaker renminbi (yuan),” said Julian Evans-Pritchard,

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NAFTA 2.0: Free Trade or Central Planning? – Global Research

NAFTA 2.0: Free Trade or Central Planning? – Global Research

08-10-18 03:16:00,

Last week the United States, Mexico, and Canada agreed to replace the North American Free Trade Agreement (NAFTA) with a new United States-Mexico-Canada Agreement (USMCA). Sadly, instead of replacing NAFTA’s managed trade with true free trade, the new USMCA expands government’s control over trade.

For example, under the USMCA’s “rules of origin,” at least 75 percent of a car’s parts must be from the US, Canada, or Mexico in order to avoid tariffs. This is protectionism designed to raise prices of cars using materials from outside North America.

The USMCA also requires that 40 to 45 percent of an automobile’s content be made by workers earning at least 16 dollars per hour. Like all government-set wages, this requirement will increase prices and decrease employment.

The USMCA also requires Mexico to pass legislation recognizing the “right of collective bargaining.” In other words, this so-called free trade agreement forces Mexico to import US-style compulsory unionism. If the Mexican legislature does not comply, the US and Canada will impose tariffs on Mexican goods.

The USMCA also requires the three countries to abide by the International Labour Organization (ILO) standards for worker rights. So, if, for example, the bureaucrats at the ILO declared that Right to Work laws violate “international labor standards”’ because they weaken collective bargaining and give Right to Work states an unfair advantage over compulsory unionism states and countries, the federal government may have to nullify all state Right to Work laws.

The USMCA also obligates the three countries to work together to improve air quality. This sounds harmless but could be used as a backdoor way to impose costly new regulations and taxes, such as a cap-and-trade scheme, on America.

This agreement also forbids the use of currency devaluation as a means of attempting to gain a competitive advantage in international trade. Enforcement of this provision will be difficult if not impossible, as no central bank will ever admit it is devaluing currency to obtain a competitive advantage in international trade. Of course, given that the very act of creating money lowers its value, the only way to stop central banks from devaluing currency is to put them out of business. Sadly, I don’t think the drafters of the USMCA seek to restore free-market money.

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How The Trade War Helps Hide Central Bank Sabotage Of The Economy

How The Trade War Helps Hide Central Bank Sabotage Of The Economy

19-09-18 09:02:00,

Authored by Brandon Smith via Alt-Market.com,

This article was written by Brandon Smith and originally published at Birch Gold Group

Almost every aspect of the global economic downturn, which started ostensibly in 2007-2008 and is still ongoing to this day, can be traced back to the actions and policies of central banks. The Federal Reserve, for example, used artificially low interest rates and easy money to create a supposedly no-risk loan environment. This translated into a vast amount of toxic mortgage debt along with a web of derivatives (Mortgage Backed Securities) attached to that debt.

The Fed ignored all the signs and all the alternative analyst warnings. Agencies like S&P backed the Fed narrative that all was well as they gave AAA ratings to endless toxic market products. The mainstream media backed the Fed by attacking anyone that argued the notion that the U.S. economy was unstable and ready to falter. In that era of economics, the truth was effectively hidden from the public by the system through relatively standard means. Today, things have changed slightly.

Since the 2008 crash, numerous economists and former Fed officials have come out publicly to admit to the culpability of central bankers (sort of). Alan Greenspan first claimed in 2008 that the Fed had “made a mistake” in its analysis and overlooked the potential of a market bubble. Then, in 2013 he came out and admitted all the central bankers KNEW that a bubble was present, but that they believed the markets would self-correct without much damage to GDP or the rest of the economy.

The mainstream financial media went on to blame the Fed for the conditions that caused the crisis, but made excuses for them at the same time. The narrative was that the Fed was blinded by peripheral factors and that it had been ignoring fundamentals. The central bankers had “painted themselves into a corner” with low interest rates, and had done this unknowingly.

This is the same narrative that Alan Greenspan used to dismiss any responsibility on the Fed’s part during the collapse of the market bubble in the 1990’s. Greenspan argued against the idea of raising interest rates in response to the bubble because it would “put the entire economy in peril”.

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From Trade War to Hot War (via Global Economic Collapse) : The Corbett Report

From Trade War to Hot War (via Global Economic Collapse) : The Corbett Report

02-07-18 05:18:00,

America is in a funk. With their country slipping into an economic and cultural morass and at risk of losing its footing on the global chessboard, Americans find themselves working harder than ever and still falling further and further behind. How can this be?

Flailing for an answer, they find it in the mouth of a politician who tells them he can make America great again! The problem, he tells them, is a trade imbalance. Americans are getting hammered by their foreign competition, the politician says, and they need strong tariffs to save the economy and restore the might of the USA. But these tariffs, it turns out, outrage even friendly nations and provoke retaliatory measures that spiral into an all-out trade war.

2018? Donald Trump?

No. 1930. Senator Reed Smoot.

What? Did they glaze over this one in history class? Gee, I wonder why.

Discover the eerie parallels between the trade war that deepened the Great Depression and set the world on the path to WWII and our current situation in this week’s edition of The Corbett Report Subscriber.

For full access to the subscriber newsletter, and to support this website, please become a member.

For free access to this editorial, please CLICK HERE.

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How the CIA Infiltrates Trade Unions

How the CIA Infiltrates Trade Unions

06-03-18 05:05:00,

by Olav Boye translated from the Norwegian by Terje Maloy

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The CIA is the infamous, criminal intelligence agency which is the mastermind behind a long series of attacks on legal, elected political leaders and massive interventions to create chaos in countries are in the United States’ bad books. By creating conflicts with help of paid agents and assassinating political leaders, they have fomented violent regime changes in numerous countries, Now it has the reputation of being a violent organization which is in the service of the US political leadership. The list of its criminal activities is long, but no one is punished for these crimes.

The CIA is heavily involved in the area of organized labour. Their aim is to sabotage trade unions and to hinder their the battle against negative globalization and abuses from multinational corporations and global financial institutions. The main labour union in the United States, the AFL-CIO, is the backer of American Institute for Free Labor Development – AIFLD, an organization which has supported right wing unions and political organizations, especially in Latin-America. Amongst other things, the AFL-CIO cooperated with the CIA and AIFLD to subvert and overthrow Salvador Allende, the democratically elected president in Chile, and his leftwing government.

AFL-CIO is the backer of international ‘Solidarity Centres’ that exists in 60 countries around the world. My experience with this from Macedonia was an aggressive interpreter who misinterpreted and constantly interrupted my lecture to an assembly from the Cultural Workers Union. My lecture was an orientation on the market liberalism in the European Union and globalization, where my opinion was that this greatly harmed the trade union movement’s struggle for political and professional rights. The interpreter was employed by the Solidarity Centre in Skopje, the capital of Macedonia, after her education in Florida. She claimed that people like me were communists and were destroying the labour movement. These claims were debated in the assembly, but the audience demanded a new interpreter. Solidarity Centres buy trust in the labour unions with amongst other things free computers and money grants. Here we can see the infiltration from the AFL-CIO – or the AFL-CIA, as some people like to call them.

During Ronald Reagan’s presidency the AFL-CIO was given substantial economic support from NED,

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