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The Jehoshua Novels

Neoliberalism, the Revolution in Reverse

The Baffler, By Chris Lehmann, The Baffler No. 24, 2014

By any reasonable measure, the neoliberal dream lies in tatters.

In 2008 poorly regulated financial markets yielded a world-historic financial collapse. One generation, weaned on reveries of home ownership as the coveted badge of economic independence and old-fashioned American striving, has been plunged into foreclosure, [...]

One Last Bubble to Pop

Blowing Bubbles

It is becoming clearer what will be the likely cause of the next financial crisis. In a recent report to US banks issued by the Office of the Comptroller of the Currency (which regulates more banks than even the Fed does), the OCC has cautioned banks to limit their lending to highly-leveraged corporations. Further, the [...]

Will the Tumbrels Roll in 2014?

At an east coast cocktail party several weeks ago, a reporter asked a CEO what he feared most in regards to the global economy. The billionaire, who asked to remain anonymous, replied, “the guillotine”.

When even the hyper-wealthy are looking anxiously over their shoulder, something is badly wrong with the economic order. For several years [...]

Is war with China inevitable?

Some of the more troubling parts of this Alt-Market piece excerpted here:


Bad Economic News

This statistic is less of a surprise than it appears:

Thanksgiving night shopping looked like a new family tradition this year as stores opened earlier and consumers took advantage of the extra time to spread out their Black Friday shopping.

The Thursday-through-Sunday tally, though, was less buying overall, according to data from [...]

Pope Francis – Marxist in Disguise?

Pope Francis

It is not surprising that Rush Limbaugh, spiritual leader of the Republican Party – the man who determines Republican ideology and who enforces obedience to orthodoxy within the party – now finds Pope Francis a “Marxist”. Pope Francis, spiritual leader to over one billion Catholics, has issued a direct assault on the [...]

What happened when JP Morgan Chase decided to engage with the public?

Hilarity, that’s what…

Matt Taibbi’s been covering it – here’s a snippet of the original article: Chase’s Twitter Gambit Devolves into All-Time PR Fiasco:

“I almost couldn’t believe it when I heard that JP Morgan Chase was going to do a live Twitter Q&A with the public – you know, all those people around [...]

Elizabeth Warren as the anti-Clinton

Warren proceeds to calmly recite numbers that could inspire even librarians to storm a few barricades. The Wall Street crash has cost the US economy $14tn, she says, but its top institutions are 30% larger than before, own half the country’s bank assets and are in receipt of an implicit taxpayer subsidy of $83bn [...]

Uncontrollable Boehner and the Bait and Switch Index

Republicans party after big vote

The Money Party’s latest training exercise with live ammunition (aimed at us) is over for a while. At the last minute, the geniuses in your nation’s capitol got it together long enough to pass a relatively clean budget resolution and raise the debt limit for a few weeks. The [...]

As Germans Push Austerity, Greeks Press Nazi-Era Claims

NYT – AMIRAS, Greece — As they moved through the isolated villages in this region in 1943, systematically killing men in a reprisal for an attack on a small outpost, German soldiers dragged Giannis Syngelakis’s father from his home here and shot him in the head. Within two days, more than 400 men were dead [...]

Coming Soon: Occupy Wall St. Debit Card

ABC News, By Alan Farnham, October 2

An offshoot of the Occupy Wall Street movement plans to issue its own debit card. What’s next? The Occupy-edition Range Rover?

Asked this same snide question, Carne Ross, a board member of the Occupy Money Cooperative, tells ABC News that his group’s intentions could not be more altruistic [...]

Greeks protest against Golden Dawn attack on Communists

Guardian story here

ekathimerini story here

A-Z on how to turn a liberal democracy into a proto-fascist state-

just take away people’s food, lodging, and jobs to pay back the international bankers of the IMF.

Note the non-response by the ruling party in the linked stories.

(originally posted Sep 13)

Update1: Greece moves [...]

Greece: A week of strikes against IMF-imposed “austerity”

Guardian Online – Police fired tear gas at demonstrating school guards amassed outside the administrative reform ministry in Athens. Three protestors were subsequently rushed to hospital suffering respiratory problems. The decision of authorities to resort to using toxic chemicals so early in the day appears only to have reinforced the resolve of unions in [...]

Humanity is drowning in Washington’s criminality

Why Poverty Happens to Good People

Lesson to learn — it’s usually not their fault. Case in point:

Donald Cardin became a firefighter at age 20 in Central Falls, R.I., a town just north of Providence that filed for bankruptcy in 2011. He was making $60,000 a year as a fire chief before retiring at age 42 in 2007 to take [...]