Thursday, April 22, 2010

Inventing Disorders

The Psychiatric Drugging of Children
By Evelyn Pringle at Counterpunch

Of all the harmful actions of modern psychiatry, "the mass diagnosing and drugging of children is the most appalling with the most serious consequences for the future of individual lives and for society," warns the world-renowned expert, Dr Peter Breggin, often referred to as the "Conscience of Psychiatry."

"We're bringing up a generation in this country in which you either sit down, shut up and do what you're told, or you get diagnosed and drugged," he points out.
Breggin considers the situation to be "a national tragedy." "To inflict these drugs on the growing brains of infants and children is wrong and abusive," he contends.

The kids who get drugged are often our best, brightest, most exciting and energetic children, he points out. "In the long run, we are giving children a very bad lesson that drugs are the answer to emotional problems."

Dr Nathaniel Lehrman, author of the book, "Coming Off Psychiatric Drugs," believes that giving infants and toddlers "powerful, brain-effecting psychiatric medication is close to criminal activity."

"Giving them these drugs," he says, "has no rationale, and ignores the basic fact that youngsters are very sensitive to their environments, both social and chemical, with the juvenile brain easily damaged by the latter."

During an interview on ABC Radio National in August 2007, Dr David Healy, the noted British pharmacology expert, and author of the book, "Mania: A Short History of Bipolar Disorder," told reporter Jane Shields: "Just to give you a feel for how crazy things have actually got recently, it would appear that clinicians in the US are happy to look at the ultrasounds of children in the womb, and based on the fact that they appear to be more overactive at times, and then possibly less active later, they're prepared to actually consider the possibility that these children could be bipolar."

On April 9, 2009, Christopher Lane, author of the book, "Shyness: How Normal Behavior Became a Sickness," published an interview on his Psychology Today blog with Dr Healy. In the interview, Healy explained the history behind the drastic rise in the sale of anticonvulsants and antipsychotics as "mood stabilizers," and the diagnosis of bipolar disorder.

"The key event in the mid-1990s that led to the change in perspective was the marketing of Depakote by Abbott as a mood stabilizer," Healy tells Lane, and further explains:

"Mood stabilization didn’t exist before the mid-1990s. It can’t be found in any of the earlier reference books and journals. Since then, however, we now have sections for mood stabilizers in all the books on psychotropic drugs, and over a hundred articles per year featuring mood stabilization in their titles.

"In the same way, Abbott and other companies such as Lilly marketing Zyprexa for bipolar disorder have re-engineered manic-depressive illness. While the term bipolar disorder was there since 1980, manic-depression was the term that was still more commonly used until the mid-1990s when it vanishes and is replaced by bipolar disorder. Nowadays, over 500 articles per year feature bipolar disorder in their titles."

"As of 2008, upwards of a million children in the United States—in many cases preschoolers—are on "mood-stabilizers" for bipolar disorder, even though the condition remains unrecognized in the rest of the world," Healy points out.
"But there is no evidence that the drugs stabilize moods," he says. "In fact, it is not even clear that it makes sense to talk about a mood center in the brain."
"A further piece of mythology aimed at keeping people on the drugs," he reports, "is that these are supposedly neuroprotective—but there's no evidence that this is the case and in fact these drugs can lead to brain damage."

Healy says the FDA's decision to add a black-box warning about suicide to SSRIs likely had little to do with the switch to prescribing antipsychotics as safer for children. What "was quite striking was how quickly companies were able to use the views of the few bipolar-ologists who argued that when children become suicidal on antidepressants it's not the fault of the drug," he points out.

"The problem, they said, stems from a mistaken diagnosis and if we could just get the diagnosis right and put the child on mood stabilizers then there wouldn't be a problem," he explains.

"There is no evidence for this viewpoint, but it was interesting to see how company support could put wind in the sails of such a perspective," he says.

Because having just one label was very limiting, Healy says, child psychiatry "needed another disorder—and for this reason bipolar disorder was welcome."

He reports that the same thing is happening to children labeled with ADHD. "Not all children find stimulants suitable," he advises, "and just as with the SSRIs and bipolar disorder it has become very convenient to say that the stimulants weren't causing the problem the child was experiencing; the child in fact had a different disorder and if we could just get the diagnosis correct, then everything else would fall into place."

A report titled, "Adverse Events Associated with Drug Treatment of ADHD: Review of Postmarketing Safety Data," presented at the FDA's March 22, 2006, Pediatric Advisory Committee meeting bears witness to Healy's explanation by stating in part: “The most important finding of this review is that signs and symptoms of psychosis or mania, particularly hallucinations, can occur in some patients with no identifiable risk factors, at usual doses of any of the drugs currently used to treat ADHD.”

Between January 2000, and June 30, 2005, the FDA identified nearly 1,000 cases of psychosis or mania linked to the drugs in its own database and those from the drug makers themselves.
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Wednesday, April 21, 2010

The Money That Is Sold Abroad Is You!

Please take a few minutes to watch this video. If you wouldn't mind please share the reflexive thoughts of denial you experience. Do not take this personally we have all been programmed with a denial reflex to uncomfortable truth. Sharing our individual reflexes could be interesting, and helpful in understanding this reflex. ~c2084



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End Insanity of the War on Drugs

Start With Decriminalizing Marijuana at The Federal Level
By Dr. Ron Paul at CNBC.com

In light of the recent drug-related violence in Mexico, it is appropriate to reflect on how our current prohibition laws affect crime, law enforcement and the economy.

Many will have the knee-jerk reaction of wanting to see more of a crackdown on illegal drugs. But I have to ask: Haven't we been cracking down on drugs for several decades only to see the black market flourish and the violence escalate? Could there be a more effective approach?

The illegality of drugs is, in fact, the Number One factor that keeps profits up for dealers and cartels, and ensures that organized crime dominates the market.

Cocaine, for example, has about a 17,000-percent markup and sells for more than gold in some areas. This is nothing new or unique to drugs, but a predictable outcome of prohibition.

During alcohol prohibition, Al Capone and others involved in organized crime made fortunes taking advantage of the dangerous and lucrative underground market the laws had created. Every time law enforcement makes another bust, profits rise for the remaining suppliers. These types of economic forces are insurmountable for law enforcement, but make for very good business for dealers and cartels.

For the rest of us, however, it is a disaster. The war on drugs keeps our prisons full to bursting at great expense to taxpayers, but also at great danger to the public at large when the real criminals, the murderers, the rapists, the child molesters, are let out to make room for non-violent drug offenders.

We imprison more of our population per capita than Russia or China ever have, and yet criminals like Philip Garrido (Jaycee Lee Dugard's kidnapper) are out there able to rape and kidnap again and again. (It is interesting that in his case, a little marijuana caught the attention of law enforcement more than repeated reports from neighbors of children in his backyard).

The War on Drugs skews the priorities of law enforcement to the detriment of the public.

Repeal of alcohol prohibition certainly did organized crime no favors. So too today, if we wanted to pull the rug out from under violent drug cartels, create legitimate job opportunities in place of the black market, realign the priorities of law enforcement, and make room in prison for the people that ought to be there, we need to end the insanity of the War on Drugs.

Decriminalizing marijuana at the federal level would be a start.
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V-shaped Explosion

The Bear’s Lair
By Martin Hutchinson the Asia Times

Commentators, including the egregious Federal Reserve chairman Ben Bernanke, are increasingly claiming that the United States is in the process of a V-shaped recovery from the Great Recession. Certainly first-quarter gross domestic product (GDP), to be announced next week, is likely to show a substantial bounce, albeit not quite the inventory-driven 5.6% annualized growth of the fourth quarter. Yet commentators should be careful what they wish for: a V-shaped recovery is likely to lead not to a prolonged period of healthy growth, but to an economic explosion and collapse.

This may seem counter-intuitive. You would normally expect a period of above-normal growth after such a deep recession, whatever the political environment. After all, even in 1934, a year in which the federal government was taking a hatchet to the banking system and capital markets through the Glass-Steagall Act and was micro-managing wages, prices and product specifications through the National Recovery Administration, US GDP, it is now estimated, rose by an extremely healthy 10.9%. Indeed, 1933-34 form the principal supporting evidence for the efficacy of Keynesian "stimulus" - real federal expenditure rose by 23.7% in 1933 and no less than 34.2% in 1934, a public sector bloat rate of which even President Barack Obama might be proud.

In the very short run, intuition may be right. Manufacturing numbers for the last couple of months have been good, while surging retail sales and the plunging savings rate suggested that the US consumer has discovered yet another credit card in an old jacket pocket that he had forgotten about. Automobile sales too have rebounded nicely, and Ford in particular is looking more solid than it has for several years. Tech sector profits seem to be "surprising on the upside" as they say, with Google reporting sharply rebounding ad sales. With such growth, even the projected federal deficit may decline by US$50 billion or so, still not quite a rounding error.

The recovery may be V-shaped in the next quarter or two, but it is very doubtful indeed whether it can continue to be so for long enough to define itself as a true recovery rather than merely an intermediate bump in a "double-dip" recession. On unemployment, for example, since 8.4 million jobs have been lost in the recession, a US recovery that lasted two years from now would have to create 350,000 jobs per month to restore the jobs lost, and that would still leave unemployment much higher than in December 2007, at 6.5-7%, because over 5 million more people would have been added to the labor force between December 2007 and April 2012.

With an employed US labor force of 139 million at present, job creation at 350,000 per month implies an increase in the work available of 0.252% per month or 3.02% per annum. Add the 2% trend growth in productivity, and you're talking more than 5% GDP growth for two full years. A lovely V-shaped recovery if you could get it, but in terms of duration and extent, the bare minimum necessary for the recovery to qualify as a true economic expansion and not simply a bump in a prolonged recession.

So what are the chances of 5% US annual GDP growth for the next two years and commensurate growth in international markets? To see the problems involved, consider the question of commodity and energy prices. In the last 12 months, while the global economy has been operating far below capacity, the Organization for Petroleum Exporting Countries benchmark crude oil price has risen from $50.20 to $81.52 per barrel, a 62.4% increase. Yet US GDP, which bottomed out last April/May, has risen no more than 5% in the last 12 months, probably less. Thus two years of 5% GDP growth would imply energy prices rising at least as quickly as in the last 12 months, as Chinese and Indian growth continued rapid and US oil consumption rebounded towards historic trends.
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RAHN: Could the U.S. become Argentina?

By Richard W. Rahn
at the Washington Times
April 21, 2010

"Obama policies have put the nation on a similar downhill slide..."

A century ago, if you had told typical citizens of Argentina (which at that time was enjoying the fourth-highest per capita income in the world) that it would decline to become just the 76th richest nation on a per capita basis in 2010, they probably would not have found it believable. They might have responded, "This could not happen; we are a nation rich in natural resources, with a great climate for agriculture. Our people are well educated and largely descended from European stock. We have property rights, the rule of law and an open free-market economy."

But the fact is, Argentina has been going downhill for eight decades, and it has the second-worst credit ranking in the entire world - only Venezuela has a lower ranking. Argentina, despite its natural resources and human capital, has managed to throw it all away. Argentina did not become relatively poor because of having been involved in destructive conflicts. It became poor because it has had a series of both democratically elected leaders and non-elected dictators who never missed an opportunity to make the wrong economic decisions. It is, once again, trying to renege on paying the principal and interest on Argentine government bonds to foreign bondholders, and hence New York state (where many of the bonds are serviced) may take further action against Argentina, including fines and asset seizures.

In the 1930s, the Argentine government increased its interventions in the private economy. Juan Peron took over in 1946 and ended up nationalizing the railroads, the merchant marine, public utilities, public transport and other parts of the private economy. For much of the past half-century, Argentina has engaged in a series of erratic monetary policies, often resulting in periods of very high inflation and economic stagnation. Because of their political power, the unions have been coddled, resulting in unsustainable wage-and-benefit programs. Excessive government spending has caused recurrent fiscal meltdowns, where both foreign and domestic debt-holders have lost many of their investments.

According to the Economic Freedom of the World Annual Report (published by the Fraser Institute in cooperation with the Cato Institute and others), Argentina ranks 105 out of 141 countries surveyed. Similarly, the 2010 Index of Economic Freedom (published by the Heritage Foundation and the Wall Street Journal) ranks Argentina 135 out of the 179 countries surveyed. (The U.S. is No. 8 and falling.)

The U.S. has a per capita income of about $47,000 per year, while Argentina's is just $14,000 on a purchasing-power parity (PPP) basis. A hundred years ago, Argentina's per capita income was about 80 percent of that in the U.S. If Argentina had done as well relatively as the United States, it would have a per capita income of about $38,000 today. Countries can become wealthy in a few decades, as have South Korea, Taiwan, Hong Kong, Singapore and Finland, by following the correct economic policies. They also can become relatively poor, as have Argentina, Cuba and Venezuela, by doing the wrong things.
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Monday, April 19, 2010

Liberty is a Cause Worthy of Defense

Thursday, 5 June, 1788; Patrick Henry is at the Virginia Convention considering ratification of the Constitution. The Bill of Rights does not exist. Henry is adamantly opposed:

I shall, with the aid of my judgment and information, which, I confess, are not extensive, go into the discussion of this system more minutely.

Is it necessary for your liberty that you should abandon those great rights by the adoption of this system? Is the relinquishment of the trial by jury and the liberty of the press necessary for your liberty? Will the abandonment of your most sacred rights tend to the security of your liberty?

Liberty, the greatest of all earthly blessing — give us that precious jewel, and you may take every thing else! But I am fearful I have lived long enough to become an old-fashioned fellow. Perhaps an invincible attachment to the dearest rights of man may, in these refined, enlightened days, be deemed old-fashioned; if so, I am contented to be so.

I say, the time has been when every pulse of my heart beat for American liberty, and which, I believe, had a counterpart in the breast of every true American; but suspicions have gone forth — suspicions of my integrity — publicly reported that my professions are not real.

Twenty-three years ago was I supposed a traitor to my country? I was then said to be the bane of sedition, because I supported the rights of my country. I may be thought suspicious when I say our privileges and rights are in danger. But, sir, a number of the people of this country are weak enough to think these things are too true. I am happy to find that the gentleman on the other side declares they are groundless.

But, sir, suspicion is a virtue as long as its object is the preservation of the public good, and as long as it stays within proper bounds: should it fall on me, I am contented: conscious rectitude is a powerful consolation. I trust there are many who think my professions for the public good to be real. Let your suspicion look to both sides. There are many on the other side, who possibly may have been persuaded to the necessity of these measures, which I conceive to be dangerous to your liberty.

Guard with jealous attention the public liberty. Suspect every one who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined.

I am answered by gentlemen, that, though I might speak of terrors, yet the fact was, that we were surrounded by none of the dangers I apprehended. I conceive this new government to be one of those dangers: it has produced those horrors which distress many of our best citizens. We are come hither to preserve the poor commonwealth of Virginia, if it can be possibly done: something must be done to preserve your liberty and mine.


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Sunday, April 18, 2010

How Long Does the USA have left?

About the time the original thirteen states adopted their new constitution in 1787, Alexander Tyler, a Scottish history professor at the University of Edinburgh , had this to say about the fall of the Athenian Republic some 2,000 years earlier:

'A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.' 'A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury.''
From that moment on, the majority always vote for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.'

'The average age of the world's greatest civilizations from the beginning of history, has been about 200 years'

'During those 200 years, those nations always progressed through the following sequence:
1. From bondage to spiritual faith;
2. From spiritual faith to great courage;
3. From courage to liberty;
4. From liberty to abundance;
5. From abundance to complacency;
6. From complacency to apathy;
7. From apathy to dependence;
8. From dependence back into bondage.

Professor Joseph Olson of Hemline University School of Law, St. Paul, Minnesota, points out some interesting facts concerning the 2000 Presidential election.

Number of States won by:
Gore: 19 .
Bush: 29.

Square miles of land won by:
Gore: 580,000.
Bush: 2,427,000

Population of counties won by:
Gore: 127 million
Bush: 143 million

Murder rate per 100,000 residents in counties won by:
Gore: 13.2
Bush: 2.1

Professor Olson adds: 'In aggregate, the map of the territory Bush won was mostly the land owned by the taxpaying citizens of this great country. Gore's territory mostly encompassed those citizens living in government-owned tenements and living off various forms of government welfare...' Olson believes the United States is now somewhere between the 'complacency and apathy' phase of Professor Tyler's definition of democracy, with some forty percent of the nation's population already having reached the 'governmental dependency' phase. If Congress grants amnesty and citizenship to twenty million criminal invaders called illegal and they vote, then we can say goodbye to the USA in fewer than five years. If you are in favor of this then do nothing... if you are not then Pass this along to help everyone realize just how much is at stake, knowing that apathy is the greatest danger to our freedom.

Someone Admits the Clear Sky Looks Blue

In another case of stating the obvious, the London Observer’s Will Hutton penned an essay that shows the 2007 financial meltdown was engineered. What is astonishing to this citizen is that Mr. Hutton may be the first mainstream source to put this conspiracy realty on the Record.
~C208

Now We know the Truth. The Financial Meltdown wasn't a Mistake – it was a CON
By Will Hutton at the London Observer
April 18th 2010

Hiding behind the complexities of our financial system, banks and other institutions are being accused of fraud and deception, with Goldman Sachs just the latest in the spotlight. This has become the most pressing election issue of all...


The global financial crisis, it is now clear, was caused not just by the bankers' colossal mismanagement. No, it was due also to the new financial complexity offering up the opportunity for widespread, systemic fraud. Friday's announcement that the world's most famous investment bank, Goldman Sachs, is to face civil charges for fraud brought by the American regulator is but the latest of a series of investigations that have been launched, arrests made and charges made against financial institutions around the world. Big Finance in the 21st century turns out to have been Big Fraud. Yet Britain, centre of the world financial system, has not yet levelled charges against any bank; all that we've seen is the allegation of a high-level insider dealing ring which, embarrassingly, involves a banker advising the government. We have to live with the fiction that our banks and bankers are whiter than white, and any attempt to investigate them and their institutions will lead to a mass exodus to the mountains of Switzerland. The politicians of the Labour and Tory party alike are Bambis amid the wolves.

Just consider the roll call beyond Goldman Sachs. In Ireland Sean FitzPatrick, the ex-chair of the Anglo Irish bank – a bank which looks after the Post Office's financial services – was arrested last month and questioned over alleged fraud. In Iceland last week a dossier assembled by its parliament on the Icelandic banks – huge lenders in Britain – was handed to its public prosecution service. A court-appointed examiner found that collapsed investment bank Lehman knowingly manipulated its balance sheet to make it look stronger than it was – accounts originally audited by the British firm Ernst and Young and given the legal green light by the British firm Linklaters. In Switzerland UBS has been defending itself from the US's Inland Revenue Service for allegedly running 17,000 offshore accounts to evade tax. Be sure there are more revelations to come – except in saintly Britain.

Beneath the complexity, the charges are all rooted in the same phenomenon – deception. Somebody, somewhere, was knowingly fooled by banks and bankers – sometimes governments over tax, sometimes regulators and investors over the probity of balance sheets and profits and sometimes, as the Securities and Exchange Commission (SEC) says in Goldman's case, by creating a scheme to enrich one favoured investor at the expense of others – including, via RBS, the British taxpayer. Along the way there is a long list of so-called "entrepreneurs" and "innovators" who were offered loans that should never have been made. Lloyd Blankfein, Goldman's CEO, remarked only semi-ironically that his bank was doing God's work. He must wake up every day bitterly regretting the words ever emerged from his mouth.

For the Goldmans case is in some ways the most damaging. The Icelandic banks, Anglo Irish bank and Lehman were all involved in opaque deals and rank bad lending decisions – but Goldman allegedly went one step further, according to the SEC actively creating a financial instrument that transferred wealth to one favoured client from others less favoured. If the Securities and Exchange Commission's case is proved – and it is aggressively rebutted by Goldman – the charge is that Goldman's vice-president Fabrice Tourre created a dud financial instrument packed with valueless sub- prime mortgages at the instruction of hedge fund client Paulson, sold it to investors knowing it was valueless, and then allowed Paulson to profit from the dud financial instrument. Goldman says the buyers were "among the most sophisticated mortgage investors" in the world. But this is a used car salesman flogging a broken car he's got from some wide-boy pal to some driver who can't get access to the log-book. Except it was lionised as financial innovation.

The investors who bought the collateralised debt obligation (CDO) were not complete innocents. They had asked for the bond to be validated by an independent expert into residential mortgage-backed securities – a company called ACA management. ACA gave the bond the thumbs-up on the understanding from Fabrice Tourre that the hedge fund Paulson were investing in it. But the SEC says Tourre misled them, a pivotal claim that Goldman denies. The reality was that Paulson was frantically buying credit default swaps in the CDO that would go up in price the more valueless it became – a trade that would make more than $1 billion. Worse, Paulson had identified some of the dud sub-prime mortgages that he wanted Tourre to put into the CDO. If the SEC case is true, this was a scam – nothing more, nothing less.

Tourre could see what was coming. In one email in January 2007 he wrote: "More and more leverage in the system. The whole building is about to collapse anytime now… only potential survivor, the fabulous Fab[rice Tourre] .. standing in the middle of all these complex highly leveraged exotic trades he created without necessarily understanding all of the implications of those monstrosities". Fabulous Fab, like his boss, will not be feeling very fab today.

The cases not only have a lot in common – using financial complexity allegedly to deceive and then using so-called independent experts to validate the deception (lawyers, accountants, credit rating agencies, "portfolio selection agents," etc etc ) – but they also show how interconnected the financial system is. In Iceland Citigroup and Deutsche Bank covered the margin calls of distressed Icelandic business borrowers, deepening the crisis. Lehman uses the lightly regulated London markets and two independent British experts to validate that their "Repo 105s" were "genuine" trades and not their own in-house liability. The American authorities pursued a Swiss bank over aiding and abetting US nationals to evade tax.

Bankers will complain these cases all involve one or two misguided individuals, but that most banking is above board and was just the victim of irrational exuberance, misguided belief in free market economics and faulty risk management techniques. Obviously that is true – but, sadly, there is much more to the crisis. Andrew Haldane, executive director of the Bank of England, highlights the remarkable reduction in the risk weighting of bank assets between 1997 and 2007. Put simply, Europe's and the US's large banks exploited the weak international agreement on bank capital requirements in the so-called Basel agreement in 2004 to reclassify the risk of their loans and trading instruments. They did not just reduce the risk by 5 or 10%. Breathtakingly, they claimed their new risk management techniques were so wonderful that the riskiness of their assets was up to half of what it had been – despite property and share prices cresting to new all-time highs.

Brutally, the banks knowingly gamed the system to grow their balance sheets ever faster and with even less capital underpinning them in the full knowledge that everything rested on the bogus claim that their lending was now much less risky. That was not all they were doing. As Michael Lewis describes in The Big Short, credit default swaps had been deliberately created as an asset class by the big investment banks to allow hedge funds to speculate against collateralised debt obligations. The banks were gaming the regulators and investors alike – and they knew full well what they were doing. Simon Johnson's 13 Bankers shows how the major American banks deployed vast political lobbying power and money to create the relaxed regulatory environment in which all this could take place. In Britain no money changed hands. Gordon Brown offered light-touch regulation for free – egged on by the Tories, who wanted to go further.

This was the context in which Goldman's Fabulous Fab created the disputed CDOs, Sean FitzPatrick allegedly moved loans between banks and Lehman created its Repo 105s along with the entire "debt mule" structure revealed this weekend of inter-related companies to shuffle debt around its empire. London and New York had become the centre of an international financial system in which the purpose of banking became making money from money – and where the complexity of the "innovations" allowed extensive fraud and deception.

Now it has all collapsed, to be bailed out by western taxpayers. The banks are resisting reform – and want to cling on to the business practices and business model that has so appallingly failed. It is obvious why: it makes them very rich. The politicians tread carefully, only proposing what the bankers say is congruent with their definition of what banking should be. Labour and Tories alike are united in opposing improved EU regulation of hedge funds, buying the propaganda those operations had nothing to do with the crisis. Perhaps Paulson's trades at Goldman, and the hedge funds' appetite for speculating in credit default swaps, may disabuse them.

It is time to reframe the question. Banks and financial institutions should do what economy and society want them to do – support enterprise, direct credit to where it is needed and be part of the system that generates investment and innovation. Andrew Haldane – and the governor of the Bank of England – are right. We need to break up our banks, limit their capacity to speculate and bring them back to earth. Britain should also launch an official investigation into what went wrong – and hand the findings to the Serious Fraud Office. This needs to become this election campaign's number one issue – not one which either a compromised Labour party or a temporising Conservative party will relish. The Lib Dems, the fiercest critics of the banks, have begun to get very lucky.
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Friday, April 16, 2010

Ron Paul and the Libertarian Moment

By Justin Raimondo at Anti.War.com

The news that a Rasmussen poll has Rep. Ron Paul (R-Texas) running in a dead heat against President Barack Obama in a hypothetical Paul-Obama face-off for the White House has the pundits fuming. Ben Smith, over at Politico, can hardly contain his annoyance: the poll "is a useful reminder of how totally flaky early polling is," he rants, and "this is the Ron Paul who polled, literally, thousands of votes placing fifth in the Iowa caucuses," and then only breaking ten percent after everyone but McCain had bailed. This evaluation depends on a static model, however: back then, there was no bank bailout, no insurance industry takeover, no tea party movement, and Ron had no real public record to run on – the 2008 campaign, in short, was a way for the country to get to know Rep. Paul, and the Rasmussen poll is a clear indication they liked what they saw. Instead of invoking Paul’s showing in the Iowa caucus, it’s more useful to compare this poll to the results of another similar Rasmussen poll taken in 2008, in which, as the pollster reported, "For Ron Paul, 10% of all voters would definitely vote for him. Fifty-nine percent (59%) say it’s No, no matter what."

Voter sentiment is now completely reversed: today, he’s in a dead heat with a sitting President. No matter how hard you try to minimize that, it’s an astonishing fact.

What Smith has to say about the perils of early polling would normally be accepted as beyond dispute: after all remember when Fred Thompson was the man to beat for the GOP nomination? However, we are not living in normal times, which I define as any period when Americans abandon their traditional attitude toward politics: i.e. indifference bordering on contempt. These days, the indifference has given way to not only awareness but also to active engagement, and the contempt for politicians has turned into a burning hatred, i.e. the very stuff and fuel of politics.

What makes it possible for Paul to ride this untamed mare is that he isn’t a politician at all: he is, in fact, the archetypal anti-politician, a professorial figure who lectures Republicans on the gravity of their fiscal and foreign policy sins, and is about as charismatic as plain oatmeal served without milk and sugar. What’s more, he tells the public what politicians have been loath to tell their constituents, and that is the necessity of deflation and the bearing of economic pain. In Paul’s view, the economic bubble generated by the Federal Reserve’s inflationary policies has led to the current downturn, and nothing less than gritting our teeth, cutting spending radically, and allowing the market to correct itself from government-induced distortions, is the cure.
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Thursday, April 15, 2010

As if it were written today...

“Do you wish to know whether that day is coming?"

"Watch money. Money is the barometer of a society’s virtue."

"When you see that trading is done, not by consent, but by compulsion–when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see that money is flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed."
”
~Ayn Rand

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