Who guards the guardians? IMF and Standard and Poor's


By Michael Collins

The International Monetary Fund (IMF) and Standard and Poor's are highly placed guardians of the world economy. IMF is supposed to teach developing nations how to be just like us, i.e., onerously indebted to the big banks. Standard and Poor's is the keeper of the credit, ratings that ripple through the economy and impact hundreds of millions. Nobody elected these folks. They were begotten, not made.

After IMF finished helping Egypt, Tunisia, and Libya with privatization and free markets, those nations descended into chaos and they're now broke, all of them, with lower living standards to boot. (See IMF Rates Up Dictatorships Just Before Revolutions)


Michael Collins May 26, 2012 - 2:06am
( categories: Global Financial Crisis )

The Mundanity Of Anarchism


"From the outside, anarchy might look threatening and scary and exciting. From the inside, anarchy can seem quite boring. But it is a profoundly hopeful type of boring." This more nuanced account of what anarchism is and what anarchists do is a refreshing change from the usual shrill MSM version. A must-read. "


Steve Hynd May 25, 2012 - 7:06pm

Poetry open thread for Memorial Day weekend


Team Agonist | Blogistan | May 25

As you all know the only poetry thread rules are: no original poetry unless you just happen to be Maya Angelou or an up and coming poet that has been published. Otherwise stick to what has proven to be good poetry.

originally posted Memorial Day May 29, 2006. Please add your favorites.


Editor May 25, 2012 - 6:57pm

Friday Cat Blogging (16 Hours Late Edition)


Sorry 'bout that, Chief!


Raja May 25, 2012 - 4:58pm
( categories: Miscellany )

A difference so small it's no difference at all


The Guardian has two good peices that need to be read together today. First, Mehdi Hasan points out that Barack Obama, like Mitt Romney, is an apologist for the 1%. Then Gary Younge writes that while the white working class is often said to 'vote against its own interests' by rejecting Democrats, we could equally ask why poor black and latino folk consistently vote against their interests by turning out for Dems.

Those who are struggling and believe Romney will improve their economic lot are wrong, regardless of their race. Eight years of George W Bush proved that. But it does not follow automatically from that that their home should be supporting Democrats under whom things have gotten less bad less quickly. True, those are the only two choices on offer. But if you're poor they are not great choices. What they need is a party that represents their interests. In a country where corporate money chooses the candidates and therefore shapes the debate that will demand a change in politics, not just politicians.

Or as one of my friends crudely put it: "the difference is that the Dems at least offer to buy you dinner before they date-rape you. But you still don't get that dinner."


Steve Hynd May 25, 2012 - 3:45pm

Fiddling While The World Burns


Quote of the day comes from Tove Maria Ryding, of Greenpeace, talking about the depressingly futile latest round of climate talks in Bonn.

"It's absurd to watch governments sit and point fingers and fight like little kids while the scientists explain about the terrifying impacts of climate change."

More here.


Steve Hynd May 25, 2012 - 3:11pm
( categories: Global Warming )

Dear A.P., Get Off Your Iran War Horse


What a shockingly bad lede from A.P. this is:

The U.N. nuclear has found traces of uranium enriched at an Iranian site to a level that is slightly closer to the threshold needed to arm nuclear missiles.

The International Atomic Energy Agency says in a report that its experts have found particles enriched up to 27 percent. That is higher than the 20 percent declared by Iran and closer to the weapons-grade material used in the fissile core of such missiles.

Argh, Iran has stepped over the line! Panic! Start the bombing right now!

Oh wait:

The restricted report says Iran explains the find as a technical glitch. The agency says it is assessing that explanation and has asked for more details, while analysts and diplomats say Iran’s version sounds plausible.

Even David Albright, no stranger to concocting scary Iran stories himself, admits that the trace amounts found are almost certainly a quality control issue and are "embarrassing but not nefarious". Cancel the bombers!

George Jahn, who leads reporting on Iran for the A.P. and wrote this piece, has a long history of banging war drums at every opportunity and a track record of revealing spanner-in-the-works scoops sourced to "an official of a country tracking Iran's nuclear program" which is a "member of the International Atomic Energy Agency" - that is, Israel. Others like the team of man-Judys at the NYT, Broad and Sanger, or Reueters' Deihl, are hardly any better. They usually force themselves to get the truth in there somewhere, but they'll spin it as negatively as possible.

When reading Western media on Iran, it's best to remember the Spanish-American War and that Pullitzer was one of the pioneers of yellow journalism.

But...we should definitely fear Iran's Oompa-Loompa engineers.


Steve Hynd May 25, 2012 - 12:50pm

The Man Who Started Libyan War Wants War On Syria Too


The French Tom Friedman, Bernard-Henri Lévy, is calling for war again. Infamous as the man who convinced his pal Sarkozy that a short, victorious war in Libya would help his election chances - leading Sarko to drag in the Brits and Cameron to drag in the US - he's now looking to the UK's Cameron to lead the charge against Syria. The platform is his new nacissistic movie about how he started the Libya intervention.

According to Lévy the film shows why intervention worked in Libya and not Iraq and how the conditions are present in Syria. “In Iraq we had no international mandate, there was no demand on the ground of the people, there was no representative leader for the forces against Saddam Hussein, in Iraq it was Western versus Arab country in Libya there was a real coalition with Arab countries involved in coalition with Emirati and Qatar forces. Intervention is justified if you have these conditions.”

Luckily - since Syria is a very different and far harder proposition than Libya both militarily and socially and in any case the whole notion of "humanitarian intervention" is on a shaky footing - I doubt Cameron will be so easy to fool.


Steve Hynd May 25, 2012 - 12:28pm
( categories: Miscellany | Levant )

Canada student protests erupt into political crisis with mass arrests

Adam Gabbatt | Montreal | May 24

The Guardian - More than 500 people were arrested in Montreal on Wednesday night as protestors defied controversial new law Bill 78

Protests that began in opposition to tuition fees in Canada have exploded into a political crisis with the mass arrest of hundreds of demonstrators amid a backlash against draconian emergency laws.

More than 500 people were arrested in a demonstration in Montreal on Wednesday night as protesters defied a controversial new law – Bill 78 – that places restrictions on the right to demonstrate. In Quebec City, police arrested 176 people under the provisions of the new law.

Demonstrators have been gathering in Montreal for just over 100 days to oppose tuition increases by the Quebec provincial government. On Tuesday, about 100 people were arrested after organisers say 300,000 people took the streets.


Raja May 24, 2012 - 6:42pm

Rupert Watch, Leveson Testimony Spells Doom for Cameron and Hunt


By Michael Collins


"Cameron continues to insist that the inquiry is the best forum to evaluate Hunt’s actions. This signals the beginning of the end for Cameron. He’s proposing a solution for the Hunt investigation that is outside the rules of Parliament, in a forum that has rejected him. Upon closer examination, existing evidence will lead to even stronger condemnation of Hunt’s behaviour. Any new materials produced by the inquiry will bury him.

"Where will that leave Cameron? Finished!" Michael Collins, Independentaustralia.net May 10, 2012

Queens Counsel Robert Jay unearthed a devastating piece of evidence that will surely create calls for the resignation of both culture secretary Jeremy Hunt and Prime Minister David Cameron.

In afternoon testimony at the Leveson Inquiry today (5/24), Jay confronted News Corp lobbyist Frederic Michel with an email rendition of a Hunt to Cameron memo of November 19, 2010 (see testimony/full memo at end of article). Hunt is clearly cheerleading for the News Corp acquisition of immensely profitable pay TV network BSkyB. News Corp owned 39% of the network and wanted to purchase the remaining 61%. This acquisition was absolutely critical to News Corp profitability and as a sign that Rupert and James Murdoch actually knew what they were doing.

One month after he got the biased memo, Cameron appointed Hunt as the government minister in charge of approving the bid. Hunt portrayed his role as "quasi-judicial" and claimed he was an objective judge. The bid was opposed by an alliance of news organizations.

Now we know, without any doubt and from Hunt's own words that he was biased in favor of approving the News Corp bid before he even got the authority to judge.

We also know that PM Cameron knew Hunt's bias and appointed him anyway.


Michael Collins May 24, 2012 - 4:36pm
( categories: Murdoch Corp. Scandal )

US To Vet Syrian Rebel Arms Recipients - Really?


I guess the Saudis, Quataris, Libyans and Turks all want that special rubber stamp of American approval...just in case they need someone to blame later.

As one diplomatic effort after another fails to end more than a year of brutal violence in Syria, the Obama administration is preparing a plan that would essentially give U.S. nods of approval to arms transfers from Arab nations to some Syrian opposition fighters.

The effort, U.S. officials told The Associated Press, would vet members of the Free Syrian Army and other groups to determine whether they are suitable recipients of munitions to fight the Assad government and to ensure that weapons don’t wind up in the hands of al-Qaida-linked terrorists or other extremist groups such as Hezbollah that could target Israel.


Steve Hynd May 24, 2012 - 3:02pm
( categories: Levant )

Iran Talks - On To Moscow In June


The EU's Ashton says the next round of talks will be in Moscow on June 18-19. Forget all the did-they-didn't-they-make-progress media reports - those are just reporters looking for an easy and headlineable narrative (and in some cases, working the agenda of those who'd rather see talks fail). The truth is captured perfectly by Ashton's spokes: "If there wasn’t progress, we wouldn’t still be holding the talks," Mann told reporters in the Iraqi capital. "Progress has been made." The process is the progress. That's a whole 'nother month there won't be war.


Steve Hynd May 24, 2012 - 1:50pm
( categories: Miscellany | Iran )

Israeli Racism Turns Violent - Again.


Racist attacks on black Africans - they're not just for Libyans.

Demonstrators have attacked African migrants in Tel Aviv in a protest against refugees and asylum-seekers that indicates an increasingly volatile mood in Israel over what it terms as "infiltrators".

Miri Regev, a member of the Israeli parliament, told the crowd "the Sudanese are a cancer in our body". The vast majority of asylum-seekers in Israel are from Sudan and Eritrea.

Around 1,000 demonstrators took part in the demonstration on Wednesday night, waving signs saying: "Infiltrators, get out of our homes" and "Our streets are no longer safe for our children." A car containing Africans was attacked and shops serving the refugee community were looted. Seventeen people were arrested.

A reporter for the Israeli daily Maariv described it as an "unbridled rampage" and explosion of "pent-up rage".

Seems to me everyone in the North has it in for sub-Saharans. But I do wonder whether the Israeli bigots have a heirarchy of racism which ranks Arabs and black Africans on a scale of hateability. The bigots would doubtless complain that their hate is also about "infiltrators" taking jobs and causing crime. As Ta-Nehisi Coates notes today though, "Complicating racism with other factors doesn't make it any better. It just makes it racism. Again." That's as true in Israel as it is anywhere else.


Steve Hynd May 24, 2012 - 12:41pm


Speaking Of Austerity


When you compare them head-to-head, the Obama and Romney tax plans are nearly identical:

Mitt Romney, the Republican candidate, is offering a 20 percent tax cut for everyone. Given the mood of the conservatives in the United States today, that may not surprise you. But even President Barack Obama, who is routinely described as a socialist by his opponents, is peddling a plan under which 99 percent of Americans would pay less than they did under the last Democrat in the White House, Bill Clinton.


Actor 212 May 24, 2012 - 9:43am

Eurozone just about 100 percent in favor of pro-growth strategy, dumping austerity


German Chancellor Angela Merkel is like a phlegmatic dominatrix. She enjoys delivering pain, lots of it, but she does so in a sluggish fashion, without any flair. She's had a free ride for too long. Now, her day has come. Merkel is the last impediment to throwing austerity overboard in Europe and the United States. Correction: the last impediment to appearing to throw austerity overboard.

Obama gave up the rhetoric of austerity before the kickoff of his 2012 campaign. His opening speech in Columbus, Ohio was so populist-infused; you might have thought he was campaigning against himself.

Newly elected President of France François Hollande arrived at the right time to lead the move away from austerity. Andrew Grice of The Independent noted, "The French leader said the EU had to consider all ways to increase growth. And eurobonds are part of the discussion."


Michael Collins May 24, 2012 - 12:45am
( categories: Global Financial Crisis )

Paul Krugman on Euro Rescue Efforts 'Right Now, We Need Expansion'

The interview was conducted by Martin Hesse and Thomas Schulz | May 24

Speigel Online - In a SPIEGEL interview, Nobel Prize-winning economist Paul Krugman argues that this is not the time to worry about debt and inflation. To save the euro zone, he argues that the European Central Bank should loosen monetary policy and the German government should abandon austerity.


Tina May 23, 2012 - 11:45pm

Neil Armstrong breaks his silence to give accountants moon exclusive

Alok Jha | May 24

The Guardian - Notoriously reclusive Apollo 11 astronaut Neil Armstrong gives video interview to Certified Practicing Accountants of Australia

As the first person to walk on the moon, he is a man whose name will be remembered for generations to come. But perhaps one of the other well-known things about Neil Armstrong is that he hardly ever gives interviews.

It was therefore something of a coup for Alex Malley, chief executive of Certified Practicing Accountants of Australia, to secure almost an hour of Armstrong's time to discuss the astronaut's trip to the moon.

In the illuminating conversation posted online on the CPA Australia website, Armstrong revealed how he thought his mission, Apollo 11, only had a 50% chance of landing safely on the moon's surface and said it was "sad" that the current US government's ambitions for Nasa were so reduced compared with the achievements of the 1960s.

"Nasa has been one of the most successful public investments in motivating students to do well and achieve all they can achieve," said Armstrong. "It's sad that we are turning the programme in a direction where it will reduce the amount of motivation and stimulation it provides to young people."

** CPA Australia Presents
An Audience with Neil Armstrong

In this four part series the first man to walk on the moon, gives a personal commentary on Apollo 11’s historic lunar landing, his thoughts on leadership and taking risks to innovate for the future


Tina May 23, 2012 - 11:38pm

Pressure On Australia To Choose An Ally - US Or China


From OilPrice.com:

Song Xiaojun, a former senior officer of the People's Liberation Army, warned that Australia cannot juggle its relationships with the United States and China indefinitely and Australia has to find a godfather sooner or later. Australia always has to depend on somebody else, whether it is to be the 'son' of the US or 'son' of China.

What is also notable about Song's remarks is that they coincided with Australian Foreign Minister Bob Carr's first official visit to China, where Foreign Minister Yang Jiechi urged Australia to dismiss its alliance with the United States, a decades-old bipartisan and central pillar of the nation's foreign policy, as "the time for Cold War alliances has passed."


Steve Hynd May 23, 2012 - 4:55pm
( categories: Miscellany | China | Global | Oceania )

M.I.6 Says Still 25-50% Chance Israel Will Attack Iran Before November


The Guardian's Nick Hopkins reports that British defense chiefs are dusting off and updating contingency plans after being told by M.I.6 that there's still a "25-50% chance" that Israel will decide to attack Iran before the US elections in November, inevitably drawing in the US and UK.

Israel must weigh up whether President Obama is likely to take a harder line on pre-emptive action against Iran next year if he has won a second term.

"The Americans might hang out the Israelis to dry after the election, but not before," said a senior Whitehall source. "Obama would have to support Israel if there was an attack before November."

British contingency measures are mostly defensive: making sure British troops in Helmand, Afghanistan are properly prepared for the prospect of Iranian-sponsored attacks as well as by Talibanesque groups and moving UK minesweeping vessels to the Persian Gulf to help keep shipping lanes open if Iran mines the Strait. Hopkins reports that some cabinet ministers would strongly resist UK involvement in any missile or air strikes on Iran by the US if Israel does drag the allies into war. That resistance seems to extend into the British civil service and military establishments.

The Guardian has spoken to a number of Foreign Office and military officials in recent months, and all of them have expressed dread at the thought of a conflict with Iran.

One spoke of fear every time Obama and Cameron are left to discuss the issue and what may have been agreed. "We have our hearts in our mouth," said the source.

I wonder if US officials feel the same way? Probably.


Steve Hynd May 23, 2012 - 1:28pm

Today's Iran Talks


As expected, no-one is offering sanctions relief yet and no-one is talking about a breakthrough. The P5+1 offered a deal:

the proposal includes a requirement that Iran suspend uranium enrichment at the 20 percent level at the underground Fordow facility near Qom and also that Iran agree to send abroad 100 kilograms of uranium enriched to the 20 percent level that is already in its possession.

Iran in return would receive a shipment of nuclear fuel from one of the six powers for the nuclear research reactor in Tehran and also have the old research reactor, which has severe safety problems, upgraded. In addition, the proposal includes the upgrading of the Bushehr reactor, both in safety and in possible assistance in the establishment of a new nuclear research reactor. The package also includes replacement parts for Iran's civilian aviation fleet, which suffers from serious maintenance problems.

But I'm more interested in seeing the details of Iran's counteroffer when they inevitably leak.

Hours later, Iran made its move by offering a counterproposal that includes what one member of its negotiating team called “nuclear and non-nuclear issues.” The official would not discuss details of the plan, but said it would be discussed in private meetings with diplomats from the European Union and China, an Iranian ally.

Talks are expected to continue tomorrow. Softly, softly.


Steve Hynd May 23, 2012 - 12:52pm
( categories: Iran )

Liberals Are Fapping


We probably shouldn't be, because something similar could happen to Democrats, eventually:

Washington (CNN) -- When presumptive Republican presidential nominee Mitt Romney appears before Latino small-business owners in Washington on Wednesday, he'll address a group whose explosive birth rates foreshadow a seismic political shift in GOP strongholds in the Deep South and Southwest.

"The Republicans' problem is their voters are white, aging and dying off," said David Bositis, a senior research associate at the Joint Center for Political and Economic Studies, who studies minority political engagement.


Actor 212 May 23, 2012 - 9:24am

Is there hope


for the future?

Socialism rears its beautiful head (Article by Gar Alperovitz via Common Dreams).

The broad goal is democratized ownership of the economy for the “99 percent” in an ecologically sustainable and participatory community-building fashion.

In March 2012, the Left Forum held in New York also heard many calls for a return to nationalization.

Might as well try something new - the old way isn't working.

A range of new theorists have also increasingly given intellectual muscle to the movement. Some, like Richard Heinberg, stress the radical implications of ending economic growth. Former presidential adviser James Gustav Speth calls for restructuring the entire system as the only way to deal with ecological problems in general and growth in particular.


steeleweed May 23, 2012 - 9:07am
( categories: Economics: USA )

‘Anonymous’ hackers release 1.7GB of stolen DOJ data

Zach Epstein

BGR - Hackers associated with well known hacker-activist group “Anonymous Operations” have released a massive cache of data they say was obtained when they hacked a website belonging to the United States Department of Justice. “Today we are releasing 1.7GB of data that used to belong to the United States Bureau of Justice, until now,” Anonymous wrote in a statement on its website. The hackers claim the file contains emails as well as “the entire database dump” from the DOJ website.

“We do not stand for any government or parties, we stand for freedom of people, freedom of speech and freedom of information,” the hackers wrote. ”We are releasing data to spread information, to allow the people to be heard and to know the corruption in their government. We are releasing it to end the corruption that exists, and truly make those who are being oppressed free.”


quiet Bill May 23, 2012 - 8:21am

Egyptians Go to Polls in Landmark Presidential Election

David D. Kirkpatrick & Alan Cowell | Cairo | May 23

NYT - After weeks of fevered debate, speculation and argument, Egyptians went to the polls on Wednesday in the Arab world’s first competitive presidential election, choosing between a dozen candidates spanning the nation’s secular and Islamist traditions after decades of authoritarian rule.

With the skies clear and the weather warm, long lines of people queued at polling stations to vote in an election cast as a watershed in their political history.


Raja May 23, 2012 - 7:05am
( categories: AgonistWire | Africa: North )