Category Archives: World Hellhole Report

On LIBOR and Plutocracy

Just after I posted the article about the rigging of the municipal bond market, we saw a story break that 18 major banks have been rigging the all-important LIBOR interest rate for at least since 2003, probably for decades. The same financial industry has also committed massive mortgage fraud, engaged in CDS fraud, financial rating rigging, and so on and so forth, ad infinitum, ad nauseum.

These are the same guys that are buying elections, from state houses on up to the presidency. They own the nation. This is not some wild-eyed suspicion. Look at the numbers: THEY OWN THE NATION. Ask Jack Abramoff: THEY OWN THE NATION. We have a plutocracy, firmly in place, and we have a diverting safety valve in the form of show elections.

What will end this? One day, a president will be sick and tired of how the bankers treated him as they bankroll his opponent heavily. That president will then enact some executive orders to bring in the heads of those financial heads and bring them to heel. Throughout history, in conflicts between money power and armed power, armed power wins.

I’m going to be traveling to Russia this week. I will see a nation that had a brief plutocracy before Putin won the showdown between money and arms. I feel like I’ll be traveling to America’s future. It’ll be interesting what I see there, in a land that might just reflect what awaits us tomorrow.

Yet One More Way Wall Street Has Ripped You Off

Rolling Stone has an important article that should be required reading for anyone that still believes markets are efficient or that it makes a difference if we vote for Democrats or Republicans. Markets are rigged, frequently, and the parties exercise a cozy duopoly in which they do the bidding of the big corporations doing the rigging of the markets.

This isn’t isolated stuff, either. This is the way things roll in the USA. We’re not a land of the free, nor is there justice for all. The big players pay tiny fines, keep their ill-gotten gains, and then go on to keep doing what they’ve been doing. They commit massive felonies, admit no guilt, and then the government sets them up to commit the same felonies over and over.

Three-time losers get life in jail, but only if they’re individual felons. Corporate three-time losers face no such penalties. Instead, they can bend Congress to let them murder to get gain. And before anyone balks and says nobody in the financial world is directly killing anyone, I’m going to come right back and say that acting as the killer or the killer’s accomplice is the same thing. They’re responsible for health care not provided to the poor, food not available for the hungry, shelters unbuilt for the cold. Inasmuch as they have done it unto the least among us, they have done it unto Jesus, as far as my religion goes.

And now you know why Jesus had so much hostility towards the rich. They tend to be Satan’s most dependable servants.

Will the Senate Bite the Hand that Feeds?

Probably not. Even with direct campaign donation limits, the guys with the money can sit down in front of their friends whenever a Senate committee decides it’s time to have a hearing.

From ZeroHedge:

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Here’s an idea for parents about to drop a packet of cash on a child’s college education: There’s an election this year. Make that money a campaign donation, instead, and your pride and joy will get the best job out of high school that money can buy. Given that George Bush gave the plan to evacuate New Orleans from Katrina to a person with zero experience, but maxed out in donations, your recent senior can count on a $500,000 contract with no experience and a $2500 donation. If you can give more, you can get more. This is the lesson Jamie Dimon teaches us: with enough money, anything is possible. Even if you have no experience or are about to bring the world financial system to its knees, the US Congress and Presidency will ride to your rescue if you’re a big donor.

The Reality of the last 30 Years

We used to have legroom in coach. We used to not notice just how rich the rich had become. Radio used to not be programmed by computers. We used to compare our nation to the USSR and say we were the nation that was most free.

Now we’re cramped into our plane seats, we are painfully aware of the separate America for the rich, radio is hardly worth listening to unless you’re lucky enough to find a community station, and our freedoms are deeply eroded. What happened?

It’s simple. It’s a process that had been underway for a lot longer than thirty years. It’s been a process of increasing control and concentration of power at the top. It’s the process of putting a price on everything so that everything – even our freedoms – can be bought and sold. There used to be lines we would not cross, boundaries to define what we should allow ourselves to do. They stemmed from our moral sensibilities, such as they were, and they kept us from extremes.

Now we have the extremes. The language we use is now more coarse, blunt, and terse than in years past. Cheating is no longer for a desperate few: it’s institutionalized and required in order to survive, it would seem. The power held by the rich now deeply permeates our lives in the form of credit cards, mortgage frauds, and student loans that cannot be discharged – and also a growing violence between the classes. It is implied, for now, but the increased purchase of handguns by bankers indicates an expectation for that violence to be come factual in the near future. Class warfare is real and it has been drawing blood… it may be doing so more openly in the future.

This is why the government now seems more distant from the people than ever before, surrounded by increasing circles of security to protect itself from unseen enemies. We’re told that the enemies are terrorists, at home and abroad, but somehow the hassle of security takes in more and more people that are just upset at the way government is owned by our nation’s wealthy.

It’s been owned by the wealthy for a long, long time. They just have not been content to leave well enough alone. Their constant seeking after another penny in profits has led to our current plight. In the name of competitiveness, they moved jobs and entire factories to where they could get cheaper – read “more exploitable” – labor and escape laws written to keep them from destroying the world with pollution. No, the money was more important to them. Nearly every single person that gained traction in opposing their power has been murdered or co-opted.

Don’t believe me? Look at the petroleum industry’s history. When Mexico tried to break free of that industry’s grip, a mysterious explosion destroyed a Mexican research facility working on the process to produce a chemical necessary to refine petroleum into gasoline. This was nothing to the petroleum industry, which had already started a war between Bolivia and Paraguay over a possible oil field in the Gran Chaco. They thought this was all they needed to do to bring Mexico back to heel: a few weeks later, though, all the chief executives of the big oil firms received a small vial of that chemical with “Hecho en Mexico” stamped on the side. Mexico had gotten away.

Iran wasn’t so lucky: in 1953, that nation tried to get a better deal on its petroleum exports and received a CIA-led coup and a dictatorship in return. US arms have supported big oil in Iraq and Afghanistan, and will likely do so elsewhere, as they’ve already been in the employ of large corporations since around 1898, the beginning of the US’ imperialism.

That violence can be directed against the people of America, of that I have no question. Violence of a lesser nature has already been pointed at us. We used to be able to count on a 40-hour-a-week job, a fair shake at getting a good, affordable education at college, a home, and the next generation enjoying a better life than our own.

Incrementally, we are being worked longer and harder when we have full time jobs, or limited to 39 hours so as not to be able to claim the dignity of a real job – and yet not be considered unemployed. Let’s be real: unemployment needs to count people not in a full-time job as being unemployed if those people want a full-time job. The people making us work more for our benefits or denying them entirely are the ones that work zero hours per week because they have brainwashed us into thinking they’re deserving of their lives because they’re somehow taking a risk on their business models. They’re not. They’re insured against failure because of their ownership of the government.

What about business owners that aren’t part of the great elite? They have to adopt the same methods of the elite, or they’ll be crushed in competition. I’ve seen all the small town main streets wiped out by Wal-Marts I need to see, and I’ve seen them develop in my lifetime. I’ve also seen other small towns, wiped out by a Wal-Mart, left devastated if that Wal-Mart closes – the main street economy does not return. We are forced to participate in a system not of our own creation if we want to survive.

College now seems to be a gateway to debtor house arrest, since we no longer fling debtors into prisons. When a college degree could get a job at graduation, it was a good thing to get. They are no longer that guarantee, no matter how many statistics the college lobby, which is connected to the banking lobby, may throw at us. Technical skills, independent of a college degree, are more likely to land a job than a bachelor’s in a liberal arts subject. The export of our nation’s services has also sent our demand for liberal arts degrees abroad. Educators still beat the drum for getting kids into college, but what we’re actually demanding is that they run up a large debt for no good use. Lifelong education can edify all of us, yes, but we don’t need a college degree to have that benefit. Given the cost of college, we cannot send our students there blindly: if that degree is not going to result in a job offer to a person that’s in a group with 53% unemployment – persons aged 18-24 – then it’s a curse on that person, who will be faced with being unable to repay a debt acquired to get that education.

And if we deem education to be a necessity of a free, vibrant nation, then we need to put more money into it. It needs to be a public good. It needs to be available, even to the poor. It used to be. We used to have 75% of our education funded through grants, and that was as recently as 30 years ago. Remember those morals we used to have as a society? As those were frittered away in the pursuit of profit, our airplane seats shrunk and our Pell grants shrank right along with them.

Our homes somehow got involved with the rush for profits through second mortgages and property bubbles. That part of the American Dream has also been extinguished in the exchange of morals for monies. We used to say that a home was something more than a possession, that it was where a family would live, no matter what. We had legal protections for homesteads that are now eroded so some board of directors of a faraway bank can enjoy a few more dollars in profits.

Will the next generation enjoy a better life? No. My generation’s not making out so well, and the next one seems to be heading into an even worse situation. Everyone is being offered a snare of debt. I used to believe that microcredit was a good thing, until I learned of the microbankruptcies it could cause and the microdepressions it could produce. Our world needs more microgrants, not microlending. It is the same on a larger scale here at home. In a world where one’s credit rating is a vital number – something not true 30 years ago – we are sending this upcoming generation into a minefield of debt slavery from which they shall not recover. We are not giving them a better future: we are demanding that they pay us for it, with interest. They have fewer job prospects, less of a chance of getting their own home, and are tightening their belts with the rest of us that don’t control senators or congressmen.

This is the violence of our system. It’s the love of money that is the root of all our evils. We could be peaceful and generous, but instead we have chosen warfare and penalties for late payments. We are told that unemployment is decreasing by a government that revises the previous unemployment numbers upward in order to make the current ones look good by comparison. We are told that the housing market is getting better by a property industry that is sitting on massive inventories and which is desperate to re-create the magical upswing of another property bubble. We are told about the great value of an education by banks, to whom education has the greatest value of all – debts that cannot be discharged in a bankruptcy.

Thirty years ago, I could say stuff like this and people that disagreed with me would still say, “Hey, it’s a free country, he can say what he wants.” Now, people that agree with me increasingly wonder if it’s healthy to say things like this in the open. To inject a bit of uncomfortable humor, I can now make the following quip, with apologies to Yakov Smirnoff in advance:

In communist countries, the government owns businesses. In America, businesses own the government!

That ownership means the nation is no longer best described as a representative democracy, but as an authoritarian, plutocratic oligarchy. I could have said this 30 years ago and been crying in the wilderness. Today, I’m not alone.

What is the solution? Both major political parties serve the interests of the rich. They can be destroyed from within, but not changed. Look at how quickly the Tea Party movement became a vehicle for the Koch brother’s massive fortune: change will not come from within the parties.

A violent movement will simply install a different authoritarianism. No answer there.

A peaceful movement will either be diverted, as was the Tea Party, or see its leadership slaughtered if the movement is successful, as happened in the Civil Rights movement. Otherwise, it’ll simply be ignored.

The only solution I see is a personal one: to insist upon being a moral person in my own life. Others may be profiting from wickedness around me, but that is no excuse or reason to join with them. Granted, I have an eye for the afterlife guiding my thoughts here, but I know I’m right in doing so. If you part company with me at this point, know this: there are no solutions in this world. Look for them, but you will not find them. The wickedness of our rulers, of our rich, and of our powerful men, is a given. It is a constant throughout all time. The only thing that has kept a ruler from being a tyrant is his own moral code. And that, frankly, has no binding on our souls unless it comes from a power greater than our own.

If we had moral leaders, they would not suffer for an instant to allow someone to live in poverty while they had the means to alleviate it. If we had moral leaders, they would not permit rich men to subvert free markets to create fortunes. If we had moral leaders, there would be things money could not buy that would be held in high esteem. If we had moral leaders, money would not buy them.

Morality has been in decline in the USA for longer than 30 years. The difference is that, in the last 30 years, the decline in morality has had increasingly direct impacts on our rights and freedoms. Without those rules, we are less free.

Why Do We Let Sarah Palin Speak?

I got a number of things on my mind this morning. First off, why in the world do we let Sarah Palin speak? Fox News, I can understand. They’re a propaganda organ of Rupert Murdoch’s empire of support for his cracker barrel version of hate and spite, so she fits right in with that crowd. My beef is with the other networks that play clips from her, quote her, or have her on as a guest speaker.

She is not an expert. She is not knowledgeable. She is not an elder statesman. She is a media-crazed spotlight hog with designer lipstick. The most dangerous place in the studio is between her and a camera. Giving her air time is like bringing an alcoholic to a brewery: it’s not good for her and it’s not good for society.

There are loads of better alternatives to Palin. Me, for instance. I clean up good and I have plenty of witty observations that will be controversial, but intelligent. Or do we not want intelligence on our news anymore? Is the nation that much of a smoke ‘n’ mirrors affair that Palin is necessary to keep us uninformed? Agh, what a nightmare world we live in!

Please, if you’re in the news business, boycott Palin. Please. I know I’m not the only one that’s done with her.

Is Your Bank About to Murder You?

Strange times we’re in when that’s a legitimate question. Here’s the proof behind the question mark:

Citibank arrests people for withdrawing money legally: http://www.rawstory.com/rs/2011/10/15/nypd-arrests-occupy-protesters-non-protester-at-citibank-branch/

Goldman Sachs execs preparing for the Muppet Apocalypse: http://www.bloomberg.com/news/2009-12-03/arming-goldman-sachs-with-pistols-alice-schroeder-correct-.html

Citibank kills a guy for not paying his credit card: http://www.washingtonpost.com/world/asia-pacific/in-indonesia-scandals-tarnish-citibank/2011/07/14/gIQAoHJrJJ_print.html

Does the list go on? Yes, yes it does… http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html Read the whole page.

The banking industry is behind the campaigns of both Obama and Romney. Whichever man wins, they want him under their control. Why is that?

Well… ask yourself… what happens to you if you decided to just quit paying your credit cards? Would your bank decide to make an example of you? Maybe not by having you whacked by a hitman, but there are other ways these guys can rain hell down on you, all 100% legal and taxed at a rate of 0% or less.

I’ve said it before, and I’ll say it again: interest on debts of any amount is a tool of oppression, a tool of the devil. Jefferson was absolutely right when he said banks were more dangerous than standing armies in terms of threatening our liberties.

Violence Will Not be the Answer

While I say violence will not be the answer, it doesn’t mean that others will try to see if it will be the answer. If history is any guide, and it most assuredly is, then the United States of America will be entering a period of heightened violence. It may be directed inwardly or outwardly, but it is going to be much, much more violent in the near future. It will either be a revolt against those who are both too wicked and too rich, or – more likely – a diversionary conflict with a high body count that may well be the fight of the nation’s collective life.

No war, no violence will solve the problems of a nation. People yearn for peace, trust, and quiet: things that are impossibilities in war. If possible, a people should leave an area of conflict and put distance between themselves and a potential aggressor. If not possible, then that people should defend itself and trust in God for deliverance.

That last part is important. It demands that a nation be righteous, that it be honest, and that it be virtuous. It demands that the nation is led by people that use their power to comfort the afflicted, not to comfort the comfortable. It demands that a nation be guided by principles of sacrifice and not personal profits. To trust in God means a nation cannot have its leaders enmired in the pursuit of profits and powers with an eye towards self-aggrandizement. A nation that trusts in God will face trials, but it will emerge from those trials all the better for having endured them. Trusting in God for deliverance implies that dangers and perils will arise and may nearly overwhelm, but that God will see the nation through those trials. Men and women will make sacrifices, even ultimate sacrifices, but the nation will endure in faith and humility.

A nation that does not trust in God for deliverance will instead play the devil’s game and kill before it is killed. It will exist as a paranoid entity. It will exploit the weak for its own game and assert that all is fair when the fittest are about the business of surviving. Darwinism is dangerous not in the biological sciences, but in the social fields – where it does not belong. In its lack of trust in God, it embarks on a history of violence.

That violence will not solve any problems. It will only lead to the breakup and destruction of nations. Then, when there are no more fit targets for conquest, the remaining nations will exhaust themselves in a mutually destructive war. With nuclear weapons, that mutual destruction will happen at a faster rate than ever before.

I see the events in the world today, and while they are not good, I don’t think I’ll be overly troubled by them. I still trust in God for deliverance. I have my reasons for my faith, and they are sound in my judgment, and that is all I need as precondition for my faith. I do my best to keep honest, to do the best work I can do, and to forgive debts others owe me. If the leaders of the USA were of the same mind, I would not be writing this essay.

A Convoluted Scam

I had a dream. No, that’s not some figurative statement. I had a dream, and it was insane. It started with investigative reporter Greg Palast talking about government boondoggle programs being run by no-bid contractors like Halliburton and Bechtel. No-bid means just that: no bid, and the contractor could be charging very uncompetitive rates. That was bad enough. Then it got more convoluted.

The contractors would employ desperate people from abroad in key positions. Why? Those desperate people needed their employment visas to stay in the USA. Without them, they would face immediate deportation to places like Greece and Spain where the economy was in the toilet and they would face unemployment with no end in sight. These were family people, but their families had to stay back in the home country – to keep them more desperate and dependent upon anything handed to them here, I presumed.

These desperate work visa holders were in charge of keeping secrets. If they talked, they could always be discredited by pointing to how they were aliens, they had bad performance reviews, they drank heavily on the job, and so on. The secrets involved the true nature of the boondoggle programs. They were either true boondoggles, which was bad enough, or they were cover operations for black bag operations – top secret activities of the US Government that ranged from being barely legal on out to flagrant violations of the Constitution and the law.

I was investigating these unfinished buildings, hospitals getting irregular lawn care, and sidewalk contracts enduring massive cost overruns and everywhere there was a scared foreigner, desperately smiling and lying to explain away any inconsistencies. The beauty of that part was that if the guy couldn’t talk straight, he could always fall back on his difficulties with the language as an excuse: “No no no no no… what I to meant to say the was we to not the being of isn’t a the to wasting of the moneys.”

The foreigners would defend the boondoggles tooth and nail because that’s what the contractors wanted them to do. Either they were lining their pockets with the proceeds of the do-nothing project, or they were even more profitable fronts for illegal operations running guns, drugs, or worse on a scale far beyond Iran-Contra.

I woke up from that and shook my head about it. It seemed crazy. When I went back to sleep, the dream continued where it left off and I saw more and more of those things, like in some kind of Biblical vision. Maybe it was. There’s only one way to find out.

And if I did uncover a scam like I dreamed, that would be amazing. But what could we do about it? The much less convoluted vision of a nation being run by interest groups already exists. This added complication would only be possible in such a government and the only way to get rid of it is to get rid of the interest groups’ ability to lobby Congress. The only way to do that, in all truth, is to only elect honest Congressmen that aren’t afraid of death. That last requirement is very important, because these interest groups include those that aren’t above a few “accidents” to keep their gravy train making regular stops.

So that’s my dream and my reflection upon it. Make of it what you will: I know what it means to me.

A Very Bad Law

The Trayvon Martin shooting is, without a question in my mind, a terrible tragedy. It should never have happened. It is all the more tragic because of a very bad law. The “stand your ground” statute in Florida actually permits someone to provoke a violent reaction but, if the reaction is life threatening, to respond with deadly force. That means if two gunslingers meet in the middle of a Florida street, whoever kills first wins the justified homicide race. For proof that his life was in danger, he can point to his slain foe with a gun in his hand.

Yes, Mr. Martin was unarmed, but one eyewitness says he saw Mr. Martin beating Mr. Zimmerman, the shooter. Another eyewitness saw the opposite happening, so all we have left is Mr. Zimmerman’s testimony, and he did have injuries to his face and head consistent with his account of Mr. Martin attacking him. So why did Mr. Martin attack, if that’s what he did?

Maybe it was the same stupid law. The law allows for people to stand their ground, instead of requiring a duty to retreat. A duty to retreat means a person needs to get away from a confrontation and let police handle the situation. In a stand your ground law, one can stand and engage an opponent based upon one’s judgment.

In this case, imagine what has to be going through the mind of a 17-year old walking home in the dark on a rainy night when some strange guy in a truck pulls up beside you and demands that you come talk to him. That’s a terrifying situation, and I can understand why Mr. Martin would not want to give any information to or comply with Mr. Zimmerman’s commands. We tell our children that strangers could kill them – and that is exactly what happened here.

Had Mr. Martin killed Mr. Zimmerman, the same law would have justified the homicide. Without a duty to retreat and let potentially cooler heads prevail, or at least heads that can be identified as policemen – and I’m leaving the racial controversy with the local force aside – the Florida law as written allows any pair of individuals that doesn’t understand each other completely to open fire, rather than try to understand what’s really going on.

Bad laws make for bad situations. Not only has this law contributed to the Martin shooting case, it’s also used by criminals to justify murders of rivals. Is that really what Florida wants on its hands?

An Open Letter to Leon Panetta

Dear Mr. Panetta,
How are you? I am fine. I see there is a problem in Afghanistan right now. A soldier killed 16 civilians, including children. This is a terrible tragedy, and I’m sure you feel bad about that. I heard on the news that the soldier may have been drinking, which will contribute to bad decisions. But the soldier was also supposed to be home in the USA after three tours in Iraq and instead got sent to Afghanistan. That’s got to be what really messed him up.

The soldiers in the US military have been getting poor treatment on all accounts since 2001. They had to buy their own body armor, National Guardsmen would be denied VA benefits if their injuries could be reclassified, psychological health care was minimal at best, and they were put into situations they could not find any good way out of. This soldier has his own sins to bear, but the US armed forces have their hand in this situation, and that needs to be fixed.

The US Army can keep soldiers in combat, indefinitely, with the way they’ve written their regulations. While the regulations make everything legal, they don’t make it all right. The treatment our front-line soldiers has received has been abysmal, both “over there” and at home. These are the men and women that put their lives at risk for their nation, but who have been hired out to do the dirty, wet work for the big oil companies. And, like any other worker for corporate America, when they’re used up, they’re tossed aside. That is not right.

I hold that the wars should not have happened in the first place: I don’t care to win converts to that point of view, as I’d rather have agreement on a more basic issue. That soldier, and thousands others like him, don’t belong in war zones after multiple combat tours. Fix the rules so that what is done is also the right thing.

Thanks for your time, Mr. Panetta. While I have your attention, could you also make sure that we don’t use the US Army for political purposes? I don’t see any partisan political gain to be worth even one life of an American soldier. I have friends over there. Don’t use them like pawns in a game in which only the richest of the rich will win.

Sincerely,

Dean Webb