Drudge Retort: The Other Side of the News

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Thursday, November 30, 2017

Saudi Arabia is a fanatical, retrograde theocracy, the world's worst. Why does Friedman put his reputation on the line for a miscreant like Salman? He knows the Saudis are funding extremist madrassas around the world. He knows they're arming and training jihadists to fight in Syria, and prosecuting a genocidal war of annihilation in Yemen. He also knows that 15 of the 19 hijackers on 9-11 came from Saudi Arabia, the home of all Salafist terrorism emerges. He knows all of this but still provides cover for the man by writing a Homage to a Saudi Dictator in the Times. Why?

The Trump administration, US military and intelligence apparatus have made the Saudi monarchy a lynchpin for their confrontation with Iran, threatening a region-wide war that will dwarf the devastation heaped on Iraq. Friedman is just the public relations make-over, like lipstick on a pig. He did the same thing before the invasion of Iraq. read more

The White House has developed a plan to force out Secretary of State Rex W. Tillerson, whose relationship with President Trump has been strained, and replace him with Mike Pompeo, the C.I.A. director, perhaps within the next several weeks, senior administration officials said on Thursday. Pompeo would be replaced at the C.I.A. by Senator Tom Cotton, a Republican from Arkansas who has been a key ally of the president on national security matters, according to the White House plan. Cotton has signaled that he would accept the job if offered, said the officials, who insisted on anonymity to discuss sensitive deliberations before decisions are announced. It was not immediately clear whether Trump has given final approval to the plan, but he has been said to have soured on Tillerson and in general is ready to make a change at the State Department. read more

What made the United States and Germany the leading industrial nations of the 20th century, and now China, has been public investment in infrastructure. This lowers the cost of living and doing business by providing basic services on a subsidized basis or freely. By contrast, U.S. privatizers have brought debt leverage to bear on Third World countries, post-Soviet economies and southern Europe to force selloffs.

The past century's global fracture between creditor and debtor economies has interrupted what should be Europe's democratic destiny to empower governments to override financial and other rentier interests. Instead, the EU is following U.S. diplomatic leadership back to the age when Kings and inherited wealth ruled governments. This conflict between creditors and democracy, between oligarchy and economic growth will remain the defining issue of our epoch over the next generation, and probably for the remainder of the 21st century. read more

Tuesday, November 28, 2017

The United States military has spent more than $5.6 trillion on conflicts since 2001, more than three times the Pentagon's actual estimate, according to a new study. The Department of Defense reported earlier this year that it had spent around $1.5 trillion on conflicts, including putting troops on the ground in Iraq and Afghanistan, air raids in Syria and Iraq to battle the Islamic State militant group (ISIS) and a drone campaign and raids against extremists in Pakistan. But that figure appears to underplay the real cost of war for the American taxpayer, at least according to the Watson Institute of International and Public Affairs at Brown University. It puts the total cost at $5.6 trillion, or $17,000 for every man, women and child. The $5.6 trillion does not include U.S. military assistance outside of the war against ISIS, such as Tunisia, the Philippines or Egypt. read more

Tuesday, November 21, 2017

Sheldon Wolin exposed our bankrupt democracy, the causes behind the decline of American empire and the rise of a new, terrifying creation of corporate power he calls "inverted totalitarianism."

He was one of the first to explain the transformation of our capitalist democracy into a new form of totalitarianism. He warned us of the consequences of unbridled empire or superpower. He called on us to rise up and resist.

Inverted totalitarianism is different from classical forms of totalitarianism. It does not find its expression in a demagogue or charismatic leader but in the faceless anonymity of the corporate state. Our inverted totalitarianism pays outward fealty to the facade of electoral politics, the Constitution, civil liberties, freedom of the press, the independence of the judiciary, and the iconography, traditions and language of American patriotism, but it has effectively seized all of the mechanisms of power to render the citizen impotent. read more


As WWII neared its end, U.S. diplomats decided this time there would be no arms debts or reparations. The global financial system would be based on gold, and creditor-favored rules. By this time the United States held 75% of the world's gold stock. The U.S. dollar became the world's reserve currency, freely convertible into gold for $35 an ounce.

To obtain gold or dollars as backing for their own domestic monetary systems, other countries had to follow the trade and investment rules laid down by the United States. These rules called for relinquishing control over capital movements or restrictions on foreign takeovers of natural resources and the public domain as well as local industry and banking systems.

Each time this global system has broken down over the past century, the major destabilizing force has been American over-reach and the drive by its bankers and bondholders for short-term gains. The dollar-centered financial system drives most Third World countries into unsustainable debt. Its three the International Monetary Fund (IMF), World Bank and World Trade Organization have imposed monetary, fiscal and financial dependency, most recently on post-Soviet Baltics, Greece and the rest of southern Europe.

By 1950 the dollar-based global economic system was becoming untenable. Gold continued flowing to the US, strengthening the dollar until the Korean War. From 1951 through 1971 the United States ran a balance-of-payments deficit, created entirely by military spending. (Private-sector trade and investment was steadily in balance.) (Michael Hudson)

Conservatives have always blamed self funded social programs such as social security and medicare for this problem, but its always been caused by unnecessary wars.


Ron Paul and Bernie Sanders forced a PARTIAL AUDIT of the Federal Reserve after 2008. It revealed that at least $16.7 trillion in liquidity was provided to Banks that had engaged in securities and mortgage fraud and were left holding their own bag of toxic assets. The actual cost to taxpayers depends on the sale value of all the toxic assets that the Fed is still holding on their books for almost a decade. Some estimates suggest this loss will be $5.7 trillion, but who really knows tomorrows real estate, bond and stock values, especially if $11 trillion is dumped into the market? But that is not all, oh, no, what followed is quantitative easing (QE), bringing the total known cost to be $22.5 trillion. But, since the audit was partial, we will not know the total cost until a FULL AUDIT is conducted. QE1, 2 &3 were transparent, but the initial Fed bailout was conducted secretly by the Fed, over weekends.

Bush, Obama and everyone in Congress that supported the bailout, constructed another cover story for public consumption, which was a $600 billion bailout program, funded by Congress, of which $300 billion was loaned out and paid back by CEOs acting quickly to put themselves in position to collect more bonuses for their failures. This is the fund that Obama correctly asserts was paid back, but this bailout was a drop in the bucket compared to what the Fed did.

It is pathetic that you could not know these facts after reading just this site for years. Clearly our country is run by people whose behavior is no different than the mafia. You are profoundly delusional.

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