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Public Banks Are Key to Capitalism
Ellen Brown
To ask whether public banks would interfere with free markets assumes that we have free markets, which we don’t. Banking is heavily subsidized and is monopolized by Wall Street, which has effectively “bought” Congress. Banks have been bailed out by the government, when in a free market they would have gone bankrupt. The Federal Reserve blatantly manipulates interest rates in a way that serves Wall Street, lending trillions at near-zero interest and pushing rates so artificially low that local governments have lost billions in interest-rate swaps.
State and municipal governments already have public lending programs, which are generally not seen as distortions of the free market. They exist because private banks are not lending in some sectors that need financing. Montana finances first-time ranchers and farmers; Sonoma County has its Energy Independence Program; and San Francisco has half a dozen mortgage lending and small business programs. Globally, public banks lend countercyclically, providing credit when and where other banks won’t. This does not crowd out private banks. Germany and Taiwan, which have strong public banking sectors, are among the most competitive banking markets in the world.
World Reaction to US Government Shutdown
by Stephen Lendman
This writer reacted by saying what a way to run the country. So did London's
Telegraph. It headlined "American shutdown: no way to run a country."
Washington agencies partly or entirely halted operations. They did so ignominious. Around 800,000 federal workers were furloughed.
They're on unpaid leave. They're temporarily laid off through no fault of their own. Both sides share blame. They maintain rock hard positions.
Neither party's willing to give a little. They won't bend for the good of the country. They won't sacrifice self-interests to save millions of ordinary Americans from enormous harm.
How Stupid Are Limbaugh Listeners?
Joel S. Hirschhorn
While driving on my usual errands run the other day I listened a little to Limbaugh’s radio show. As usual I was completely amazed at the incredible misinformation vomited by the champion of stupidity.
Limbaugh strongly condemned Obamacare because he was convinced that the government has no constitutional right to require citizens to purchase anything, certainly not health insurance. Interestingly, he did not condemn the conservative controlled Supreme Court for allowing this to happen. Apparently, superrich Limbaugh forgets that car owners are required to buy automobile insurance. And there are now jurisdictions where home owners are required to buy flood insurance. There are also places where people must pay for an ambulance if they do not have insurance coverage. And let us not forget that government mandates parents to send their children to schools, which requires various kinds of spending (as does even home schooling). To get from one place to another by car often requires paying a bridge or tunnel toll, as yet another example. When I travel by air my ticket includes several government mandated costs.
Anti-Iranian Media Bias
by Stephen Lendman
US major media bias is longstanding. It's over-the-top attacking America's enemies.
Scurrilous misinformation substitutes for honest reporting and analysis. Doing so is standard editorial policy.
Lies, damn lies, and scurrilous ones repeat with disturbing regularity. Syria is wrongfully vilified. So is Iran.
Fairness & Accuracy in Reporting (FAIR) provides a vital service. It's a credible media watchdog.
It exposes media misinformation, bias and censorship. It features truth and full disclosure. It does so because it matters.
America and Israel v. Iran
by Stephen Lendman
On September 30, The New York Times headlined "Discussing Iran, Obama and Netanyahu Display Unity."
On Monday, both leaders met at the White House. "Mr. Netanyahu said he was comforted to hear Mr. Obama declare that Iran's 'conciliatory words have to be matched by real actions.' "
"The president said he would take no options off the table, including military action, to prevent Iran from obtaining a nuclear weapon." Both leaders are largely likeminded on Iran. According to Council on Foreign Relation (CFR) Iranian expert Ray Takeyh:
Rapprochement with US Reinforces Iran Hand in Iraq
By Nicola Nasser*
Iran seems successful in turning the Iraqi “strategic” agreement with the US into a tactical one, while it is succeeding in turning its own tactical accords with Iraq into a strategic bondage of the country.
The burgeoning US-Iran rapprochement will only reinforce this trend to reinforce Iran hand in Iraq.
Therefore, none seems more jubilant than Iraq by the latest indications of rapprochement between the United States and Iran and none seems more on alert to see it through to success.
Prime Minister Nouri al-Maliki, in a statement issued by his office on September 29 “hailed” what he described as “a great breakthrough” and a “victory” in the US-Iran relations, said he was “very optimistic” and pledged, according to Xinhua “that Iraq is ready to play a role to push forward the positive development” between the very two countries, which have been the “enemies” of Iraq and its war adversaries for decades now and which most Iraqis hold responsible and accountable for their current miseries.
Fast Food Healthcare Coverage
by Stephen Lendman
October 1 begins a new era of healthcare market rules. On the one hand, insurers no longer can refuse consumers for preconditions.
On the other, lots of rude awakenings await. They include bare bones plans. New health insurance exchanges (HIX) are state, federal, or jointly-provided options.
They're marketplaces for consumers to compare and choose plans. They determine who's eligible for federal subsidies.
They offer a confusing array of plans. They're privately run. Many will leave consumers paying around 40% of costs out-of-pocket. They'll do so after spending thousands of dollars on premiums.
Longstanding US/Iranian Relations
by Stephen Lendman
Iranians have long memories. They're well justified. They know how America always treated them. They understand Washington's duplicity. They're well aware of its imperial designs.
Obama's outreach to President Hassan Rohani changed nothing. His entire agenda is duplicitous. He governs with malicious intent. He's waging war on humanity.
Iran's Baku envoy Mohsen Pakayeen said America's "34-year-long animosity cannot be settled with one phone call, although it was a positive start."
"The phone talk between the Iranian and US presidents can be the start of a confidence-building move and if the process leads to the settlement of Iran's nuclear issue, it will serve both countries' interests."
Great Shake Out: Earthquake Preparedness
By Rady Ananda
Last Tuesday, a magnitude 7.7 Mw earthquake in Southwest Pakistan killed at least 515 people and left tens of thousands homeless.
On March 11, 2011, a 9.0 Mw earthquake struck off the coast of Japan, spawning a series of tsunami waves that reached up to 135 feet in height. Over 15,000 people died immediately, and over a million buildings collapsed or were seriously damaged. Worse, three nuclear reactors melted down, poisoning the northern hemisphere with radiation that’s ongoing today. (Please sign this petition.)
Just before 5pm on January 12, 2010, a magnitude 7.0 Mw earthquake epicentered about 15 miles west of Port-au-Prince, Haiti. That, and the several dozen aftershocks, some with a magnitude of over 5 Mw, condemned over 150,000 people to death and demolished over a million homes.
More on Inventing an Iranian Threat
by Stephen Lendman
None whatever exists. US, other Western, and Israeli leaders know it. Claims they make otherwise are false.
The Jewish Institute for National Security Affairs (JINSA) is a pro-Israeli front group.
It calls itself "the most influential group on the issue of US-Israel military relations."
It "advocate(s) on behalf of a strong US military, a robust national security policy, and a strong US security relationship with Israel and other like-minded democracies."
It supports Israeli lawlessness. It endorses its regional dominance plans. It's in lockstep with its war on Palestine and other Middle East enemies.
It seeks full Washington support. It wants it backing Israeli policy. It's connected to high-level military/industrial officials in both countries.
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