Politicizing Hunger: Roots of the Cuban Embargo

By March 1960, just barely over a year after the Cuban Revolution, the U.S. decided that it was time to punish the Cuban people for allowing Castro to take power in Cuba. As explained in the Memorandum of Discussion at the 436th Meeting of the National Security Council, Washington, March 10, 1960: Mr. Dillon [Under …

Continue reading Politicizing Hunger: Roots of the Cuban Embargo

Advertisements

Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”

In October 16, 2005, Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances” urging investors to put money into a “Plutonomy Basket" Here are my favorite excerpts: The World is dividing into two blocs - the Plutonomy and the rest. The U.S., UK, and Canada are the key Plutonomies - economies …

Continue reading Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”

Supra-Governments – “The Most Powerful Force on Earth”

Who needs conspiracy theories? Just read the Financial Times. Roger Altman is an American investment banker and a former Democratic politician. He served as Assistant Secretary of the Treasury in the Carter administration from January 1977 until January 1981 and as Deputy Secretary of the Treasury in the Clinton administration from January 1993 until he …

Continue reading Supra-Governments – “The Most Powerful Force on Earth”

The Economic Theory Based Entirely on Sentimental Hope – Smith vs. Ricardo

Is it strange that classical English economists Adam Smith and David Ricardo based a lot of their economic theory on sentimental hope? That the capitalists of their time would make economic decisions based on their sense of patriotism? Adam Smith considered the possibility that the merchants and manufacturers in England might decide to do their …

Continue reading The Economic Theory Based Entirely on Sentimental Hope – Smith vs. Ricardo

The Minsky Moment and the Inherent Flaws of a Free Market Economy

Hyman Minsky was an American economist and a professor of economics at Washington University in St. Louis. Minsky spent his life on the margins of economics but his ideas gained currency with the 2007-08 financial crisis. To many, it seemed to offer one of the most plausible accounts of why it had happened. Minsky wrote …

Continue reading The Minsky Moment and the Inherent Flaws of a Free Market Economy

The Color of Money: Black Banks and the Racial Wealth Gap

From The Real News: JAISAL NOOR: Welcome to The Real News Network. I'm Jaisal Noor in Baltimore. White House Chief of Staff John Kelly was widely condemned for recently saying, "The lack of compromise led to the Civil War." JOHN KELLY: Now it's different today but the lack of an ability to compromise led to …

Continue reading The Color of Money: Black Banks and the Racial Wealth Gap

10 Principles of Concentration of Wealth and Power

Requiem for the American Dream is a timely 75-minute teach-in by Noam Chomsky, the M.I.T. linguistics professor who has been a leading leftist political analyst, critic and writer for six decades. Mr. Chomsky, already the subject of several documentaries, focuses here on an election-season theme: financial inequality in America and what he calls its corrosive …

Continue reading 10 Principles of Concentration of Wealth and Power