"A Disappointing, Procyclical, and Highly Politicized Budget" by Ed Dolan Ed Dolan's Blog April 11th 2013

The White House has officially unveiled its budget for fiscal year 2014. I hope to have a chance to look at some of the numbers and programs in depth over the coming weeks, but the overview alone confirms what many leaks have suggested, namely, that this is a disappointing, highly politicized document. Here are some first impressions:

A commitment to continued procyclical austerity

“Nobody in Europe” sees a “contradiction” between austerity and growth" William K. Black, UMKC, NEP blog, April 10th, 2013

The two most revealing sentences about the gratuitous Eurozone disaster – the creation of the deepening über-Depression – was reported today. The context (rich in irony as I will explain) is that U.S. Treasury Secretary Lew spent his Spring Break in Europe meeting with his counterparts. The Wall Street Journal’s article’s title explains Lew’s mission and its failure: “U.S.

"MERS Helps Wall Street Steal Your Home" From Great Leap Forward site(L. Randall Wray) April 10, 2013

This needs to be widely distributed.

This is a webinar put together to assist resistance to the bankster frauds in seizing properties, when they have no legal basis to do so due to the securitization process which includes MERS the Mortgage Electronic Records Service which violated contract law at the outset and then enabled the robo-signer scamming of the process.

The Commission on Portugal: Is This for Real? Francesco Saraceno April 8th 2013


A quick note on Portugal. Let’s start from three facts: Austerity did not work. Portugal is in a recessionary cycle. The economy will shrink by 2.3 per cent this year, more than twice as much as the previous government forecast (and the slowdown of exports to the rest of the eurozone, is not helping).

NGO representatives stop World Bank meeting By India Express News Service - BANGALORE April 9, 2013

World Bank’s multi-stakeholder meeting to review and update its current environmental and social safeguard policies ended abruptly here on Monday. Representatives of non-government organisations (NGOs), who participated in the meeting, accused the bank of funding environmentally unsustainable projects and charged that it was complicit in massive human rights and environmental violations.

World Bank Must End its Support for Human Rights Abuses in Ethiopia by David Pred


A multi-billion dollar aid program administered by the World Bank is underwriting systematic human rights abuses in Ethiopia. Last September, Ethiopian victims submitted a complaint about the program to the World Bank Inspection Panel, which is tasked with investigating whether or not the Bank complies with its own policies to prevent social and environmental harm. A meeting of the Bank’s board of directors to discuss the Panel’s preliminary findings was postponed on March 19th due to objections from the Ethiopian government.

The Queen Mother of Global Austerity and Financialization by Michael Hudson and Jeffrey Sommers, Counterpunch

We typically honor the convention to refrain from to speak ill of the recently departed. But Margaret Thatcher probably would not object to an epitaph focusing on how her political legacy was to achieve her professed aim of “irreversibly” dismantling Britain’s public sector. Attacking central planning by government, she shifted it into much more centralized financial hands – the City of London, unopposed by any economic back bench of financial regulation and “free” of meaningful anti-monopoly price regulation.

Margaret Thatcher Is Dead: Where We Are Now by Dan Kervick. New Economic Perspectives April 9th, 2013

Thatcher and Ronald Reagan were seminal conservative politicians who came to power in 1979 and 1980 at the end of a period of profound transformation in the Anglo-American world. A postwar system forged in war, and built on a broad foundation of industrial labor, rising middle class prosperity, and an active government hand in economic development was transforming itself socially and economically into something quite different.

Bursting the Thatcher Bubble by David Corn, Mother Jones

The canonization of Margaret Thatcher began with nanoseconds of news reports that the former British prime minister and conservative icon had died at the age of 87. On MSNBC, my pal Chuck Todd remarked, "We lionize her over here." There was insta-commentary about how she saved Britain from economic despair and the rest of the world from the Soviets (with some help from a guy named Ronald Reagan). Excess ruled.

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