Fake News: The Collapse of the MSM’s ‘Facebook Russian Bot’ Story

As 21WIRE said last year, the Russian hacking, or Russiagate story was a political hoax from the start. What this story can now demonstrate, is that for the last 18 months, the entire mainstream media has been promulgating a highly politicised, and relentless campaign of fake news designed to implicate Russia in an imaginary scandal. Leading the pack are former ‘papers of record’ The New York Times and The Washington Post, flanked by America’s premier broadcast TV propaganda outlet CNN.
Last week, we revealed how powerful politicians in Washington had pressured Facebook executives to come up with any evidence to support the Democratic Party’s theory of ‘Russian meddling,’ – demonstrating clear collusion between the Obama Administration and Silicon Valley corporation Facebook, with the goal of fabricating a scandal in order to scapegoat Vladimir Putin and the Russians for the electoral collapse of Hillary Clinton last November.
As a result, US-Russian relations have been sacrificed at the altar of petty partisan politics and a failing deep state agenda.
It certainly begs the question: with so much at stake, why would Washington and MSM lie and risk pushing global tensions closer to a world war level confrontation? If they are prepared to lie about this, what else are they prepared to lie about?
Consortium News Exclusive: The U. S. mainstream media is determined to prove Russia-gate despite the scandal’s cracking foundation and its inexplicable anomalies, such as why Russia would set up a Facebook ‘puppies’ page.
By Robert Parry
What is perhaps most unprofessional, unethical and even immoral about the U. S. mainstream media’s coverage of Russia-gate is how all the stories start with the conclusion – ‘Russia bad’ – and then make whatever shards of information exist fit the preordained narrative.

This post was published at 21st Century Wire on OCTOBER 5, 2017.

Russian Embassy Implicates Hillary In Tweet Asking: “Who Killed Seth Rich?”

#WikiLeaks informer Seth Rich murdered in US but MSM was so busy accusing Russian hackers to take notice. pic.twitter.com/0XVezTyfHM
— Russian Embassy, UK (@RussianEmbassy) May 19, 2017

Earlier this week, Fox News dropped a bombshell report officially confirming, via anonymous FBI sources, what many had suspected for quite some time, that murdered DNC staffer Seth Rich was the WikiLeaks source for leaks which proved that the DNC was intentially undermining the campaign of Bernie Sanders. In addition to exposing the utter corruption of the DNC, the leaks cost Debbie Wasserman Shcultz her job as Chairwoman.
At the time, we mockingly wondered why the mainstream media seemingly overlooked a huge new development in a highly suspicious unsolved murder case.
Finally, we find it ‘shocking’ that while the New York Times, Washington Post, CNN, etc are all too eager to regurgitate each others anonymously sourced stories that are critical of Trump, not a single one of them had a single reference of this Fox News bombshell on their website at the time this article was published.
Turns out we weren’t alone, as the Russian Embassy in the U. K. just sent out the following tweet:
“#WikiLeaks informer Seth Rich murdered in US but MSM was so busy accusing Russian hackers to take notice.”

This post was published at Zero Hedge on May 19, 2017.

All Washington blames Putin and calls for investigations of Russian villainy: John Batchelor interviews Stephen F. Cohen

The character of events from week to week, and as discussed by both Batchelor and Cohen, is manifestly worsening. While the proxy wars are stabilizing to some little extent, we see the political wars in governments as fall out of the New Cold War in a constant state of escalation. Cohen notes a New York Times piece by Charles Blow that coined a name for what is happening as an ‘Era of Suspicion’ and the author considered this a positive thing for the country – where all the interest groups are being forced by the hate and fear campaign to align with the anti-Russian narrative whether it serves their interests or not. This past week Batchelor brings up the news about the Estonian Ambassador, Eerik Marmei and the Ukrainian Minister of Foreign Affairs, Pavlo Klimkin who spoke to a Senate subcommittee about Russia disrupting elections in Europe, and the danger of cyber warfare by Russia. Also mentioned were the Trump charges that Obama had his Trump Tower ‘bugged’. Cohen then launched into what the consequences of this new ‘Era of Suspicion’ and the professor describes how the pressure to conform has influenced all the politicos (Flynn debacle) and the masters of industry in the United States, who want to have business dealings with Russia, into remaining cautiously silent. These and other efforts are being used to isolate Trump and neuter or redirect any chance of dtente or even honest discussion of serious geopolitical events. It is working too – with Republicans also becoming divided. Some Republicans are looking at Vice President Pence for the president’s position.
Cohen also discusses the role of ‘expert consultants on Russia’ in the media and their efforts to vilify Putin and the Kremlin. All interviews using these people are factually untrue. The most egregious of these, for example, maintained that Putin was ‘deliriously happy that Washington was in complete chaos over Russian policies’. Batchelor exclaims that this is ‘complete rubbish’. It was also Batchelor’s opinion that it was serious that Trump did not mention Russia in his address to Congress. What this indicates is that dtente is getting much less likely. Cohen also mentions the resurrection of McCarthyism with a Committee of Un-American Activity being formed and concludes that disorder is the contrived tenure of modern Western diplomacy. In my opinion Trump has to decide whether folding to the will of his opposition will stop this campaign to remove him or will it show weakness that will lead to escalation. His reticence to talk about Russia may be testing the waters, or be showing weakness. Senator Graham, who talked with the president, seems to think the latter and the US will ‘push back’ against Russia. I think Trump is folding too.
The push back will see more support for NATO and perhaps more military help for Ukraine. Cohen discusses the quasi NATO presence now in Ukraine, and he also brings up a potential increase in US troop presence in Syria. He discusses the dangers of a combined military presence of US and Russian assets in Syria. Cohen then discusses the simple solution to ease the danger, and it really is simple. Disengagement. But Putin needs Washington (Trump) to cooperate. But Cohen now considers this as unlikely as he thinks Trump is folding to his opposition in Washington. In Ukraine the political and economic situation is worse and where President Poroshenko is having no control over the ukronazis – who are now embargoing coal imports from the Donbass. This hurts Kiev, but also illuminates the reality of a failing central government. A personal question: Will NATO continue to base troops there? It would mean contending with or working with nazis in a failed state environment? But would most of the West hear about it? That’s where we are, living behind a virtual information wall that George Orwell would immediately recognize.
From my point of view the Military Industrial Complex has shown no sense of danger in supporting a ‘confrontation for profit’ policy against Russia, and now the people of the West are effectively ‘walled off’ from learning about critical realities by a systemic corruption of the MSM. Washington is creating its own “Iron Curtain”. Not even discussions at the highest levels of Washington are tolerated unless they support the narrative. One wonders how long this can go on with the Military Industries dependent on tax dollars, and the financial sector and other interests looting the economy and destroying that same tax base. This becomes another reason to impose that ‘Era of Suspicion’ on the whole country; if one cannot advise or discuss an argument against war dangers (or government policies) without censure, then war becomes more inevitable in spite of the fundamentals that work against it. One could say, ‘unleash the dogs of war’ but first hugely increase the fiscal deficit.

This post was published at Audioboom

TRUMPDOM: The Curious World of Trump’s Foreign Policy Explained

It is barely seven weeks since Donald Trump became the 45th President of the United States. Perhaps too early to figure out the details of America’s foreign policy during his presidency. However, some broad contours of his policies are taking shape, which may provide pointers to what he is likely to do in the next four years.
These pointers are based partly on what Trump said during his election campaign and partly on what has happened since he became President. Actually, quite a lot has happened in the last seven weeks or so, including considerable turbulence in US domestic and foreign policy.
Before proceeding further, it may be useful to recall that Trump’s victory in the Nov. 2016 elections was unexpected. Most opinion polls and the mainstream media (MSM) predicted victory for Hillary Clinton, who was the candidate of the US Establishment and the ‘Deep State’ (DS), which includes the military-industrial complex, the intelligence agencies, the MSM, Wall Street, and the Jewish Lobby.
The DS is a permanent, unelected, group of institutions, lobbies, and individuals which wields enormous power from behind the scenes and continues to do so irrespective of who is the President and which party controls the US Congress. It is driven by the quest for money and power, among other things.
The present DS began taking shape almost thirty-five years ago when Jimmy Carter was President. There was a DS before that too, going back to the 1950s, which came into existence after the Second World War. However, it was much less powerful and entrenched than the present one. John F. Kennedy tried to defy it but did not succeed. Some believe he paid for it with his life.

This post was published at 21st Century Wire on MARCH 9, 2017.

Confessions Of A Fake News Reporter

‘A lie can travel half way around the world while truth is still putting on its shoes.’ ~ Mark Twain
I write for those so-called ‘fake news’ websites. You know the ones: the 200 odd deplorable websites, the ones Hillary, the Pope and Michael Moore have attacked as threatening to destroy World Peace, Democracy, Facebook and the Mainstream Media (MSM).
I only write for a handful of them, sad to say, although I’ve been linked to scores more. One of my recent columns went viral and it probably swayed the entire election – for better or worse: Before Trump, Sen Bulworth Spoke Truth To Power . Seriously, the blatant corruption of the losing team, from Super Delegates to Podesta and PizzaGate to hidden Hillary health issues and secret sums of money funneling through the Clinton Foundation in ‘Pay to Play’ accusations cost them the election, despite the best efforts and endorsements of the entire American media.
I’ve written for Rense, Counterpunch, Antiwar and Zerohedge. Most of my best stuff appears here on Strike The Root first, or STR as we call it, a website where Henry David Thoreau rather than Mark Zuckerberg is our moderator. Tragically, STR did not appear on ProporNot and we are devastated, absolutely devastated. Not.
Sometimes I ask my friends: If knowledge is power and ignorance is bliss, which is preferable? I always hope someone will respond, as Socrates or Obi Wan would have: Knowledge of our ignorance is power; bliss in this age is unattainable.

This post was published at Zero Hedge on Jan 7, 2017.

Ten Electoral College Electors Want Briefing On “Russian Interference” Before Presidential Vote

In our initial take on the Washington Post’s story about the “secret” CIA assessment that Russia helped Trump win the election (since contested by the FBI), we said that this may amount to nothing short of a “soft coup” attempt by leaders in the US Intel community and the Obama administration, and warned to expect of a push by prominent democrats to pressure the electoral college to “take into consideration” these findings next Monday, on December 19, when the formal vote for president is set to take place.
This is how we summarized the newly-formed narrative:
Announce “consensus” (not unanimous) “conclusion” based in circumstantial evidence now, before the Electoral College vote, then write a report with actual details due by Jan 20. Put a proven liar – James Clapper – in charge of writing the report on Russian hacking. Fail to mention that not one of the leaked DNC or Podesta emails has been shown to be inauthentic. So the supposed Russian hacking simply revealed truth about Hillary, DNC, and MSM collusion and corruption. Fail to mention that if hacking was done by or for US government to stop Hillary, blaming the Russians would be the most likely disinformation used by US agencies. Expect every pro-Hillary lapdog journalist – which is virtually all of them – in America will hyperventilate (Twitter is currently on fire) about this latest fact-free, anti-Trump political stunt for the next nine days.

This post was published at Zero Hedge on Dec 12, 2016.

Krugman’s Latest Twitter Meltdown Lays Out Democrats’ Next Steps

So we'll have a president who lost the pop vote by 2.1%, got in thanks to FBI and Putin. And supporters will demand respect. Um, no.
— Paul Krugman (@paulkrugman) December 10, 2016

In our initial take on the WaPo report of a “secret” CIA assessment, according to which Russia, without a shred of evidence, helped Trump win the election (it remains unclear just how Putin “hacked” several hundred thousands Rust Belt workers into believing Hillary Clinton would offshore their jobs), we summarized in five point how this was nothing short of a “soft coup” attempt by leaders of the US Intel community and Obama administration to influence the Electoral College vote. To wit:
Announce “consensus” (not unanimous) “conclusion” based in circumstantial evidence now, before the Electoral College vote, then write a report with actual details due by Jan 20. Put a proven liar in charge of writing the report on Russian hacking. Fail to mention that not one of the leaked DNC or Podesta emails has been shown to be inauthentic. So the supposed Russian hacking simply revealed truth about Hillary, DNC, and MSM collusion and corruption.

This post was published at Zero Hedge on Dec 10, 2016.

Fake News and the War on Freedom and Truth

‘During times of universal deceit, telling the truth becomes a revolutionary act.’
– George Orwell, Visionary Author
Now that the rigged election circus is finally behind us and the United States as a fake democracy has been exposed as a complete fraud, along with its criminally complicit, fake mainstream media news predicting Hillary would be the next president, with a vengeance the elite has accelerated its war against internet alternative news as the one and only closest source of truth left available to the global masses.
For ducking out from taking any honest responsibility for every scandal or shortcoming throughout her long, anything but ethical public life, Hillary Clinton’s M. O. has always been to rail against ‘the vast right-wing conspiracy’ as her nemesis. Her election loss is no different. In all the frenzied post-election finger-pointing, puppet-in-chief Obama, his anointed, would-be successor Hillary and their MSM whores are acting as the proverbial pot calling the kettle black, launching a campaign to ‘expose’ the internet for so-called ‘fake news,’ conveniently blamed for Hillary losing the election (along with FBI fall guy James Comey, WikiLeaks and Putin of course, and legions of racist Trump supporters).
The liars are citing every reason but the actual reason for their loss – Hillary has been proven ad nauseam to be nothing more than a pathological lying prostitute for pure greed and the genocidal masters she bows down to and serves. Americans have grown so sick of government corruption, endless wars and blatant treason by their leaders maintaining policies that have consistently been destroying America, they’ve elected an angry, bigoted, rich white man as their latest hope promising to drain the swamp infested by leeching Washington criminals. And the prospect of a growing wrath behind a seething rage in America about ready to spill over has deep state insiders initiating an all-out offensive in a last gasp effort to ward off the truth from fully exposing their international crime cabal once and for all, especially since the Clinton et al.’s international child sex slavery-trafficking ring was outed [yet again] last month. As quickly as it resurfaced on alternative news sites, it closed just as quickly when Comey reclosed Hillary’s criminal investigation two days prior to the election.

This post was published at Lew Rockwell on November 26, 2016.

Trump vs. Clinton: The Eccentric Billionaire vs The Sociopathic Criminal

Below is a guest post from my colleague, who requested anonymity. 12 years ago, a friend of mine and I both agreed that – and this was after Enron, 9/11 and Colin Powell’s self-admitted lies about Iraq which were used to justify a military overthrow of the Hussein Government – that we would eventually see things occur in this country that would blow our minds (as if those three events were relatively ‘non-events). I can say with complete sincerity that two things completely blow my mind now: 1) the degree to which corruption and criminality have completely enveloped our economic, financial and Governmental system and 2) the fact that a criminal – with plenty of hacked emails on display to prove certain acts of criminality – is permitted to run for President.
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I am a casual observer having learned that when all you are left with is hope, it’s thatmoment you realize it’s over – whether it’s a game, investing, politics, etc. Unfortunately I reached that point many years ago with the state of politics and mainstream media’s (MSM) blatant biases towards…..well everything they touch. Last night’s Presidential Debate (sic) clearly reinforces my position that all we are left with is hope. Hope that things cannot get worse, hope that eventually things get better, hope that this is not simply a horrific Orwellian Nightmare, although the latter appears to be where we’ve arrived full frontal. I didn’t watch the debate looking for my opinion of the ‘candidates’ to change as I have zero plans to vote in this election. Yes, we’ve devolved to that point in history. I watched the debate for the same reason most people would watch a NASCAR race: waiting to see a wreck.
In attempting to summarize the spectacle from last evening, the first thought I had is ‘if aliens were watching from their spaceship what would they be thinking?’

This post was published at Investment Research Dynamics on October 10, 2016.

Price Discovery, R.I.P.

That was quick. With nearly 85% of the Brexit loss recovered in three days and the market now up for the quarter and the year, what’s not to like?
After all, the central banks are purportedly at the ready, and, in the case of the ECB and BOE, are already swinging into action according to their shills in the MSM. MarketWatch thus noted,
Markets were boosted by reports indicating the European Central Bank is weighing changes to its bond-buying program, while ‘the Bank of England also said they are all in,’ said Joe Saluzzi, co-head of equity trading at Themis Trading.
The European Central Bank is considering changing the rules regarding the types of bonds it can buy as part of its stimulus package to amid concerns it could run out of securities to buy under current stipulations, according to Bloomberg News. The report followed comments from Bank of England Gov. Mark Carney, who indicated the central bank is poised to further ease monetary policy to combat
Well now, by the sound of it you would think that the madman Draghi is fixing to uncork the mother of all QEs if there is a danger that the ECB will ‘run out of securities to buy’.
Who would have thought that the debt engorged governments of the eurozone couldn’t manufacture enough IOUs to satisfy Mario’s ‘buy’ button? In fact, with public debt at 91% of GDP you would think that the $12.5 trillion outstanding would be more than enough to go around.

This post was published at David Stockmans Contra Corner on June 30, 2016.

Price Discovery, RIP

That was quick. With nearly 85% of the Brexit loss recovered in three days and the market now up for the quarter and the year, what’s not to like?
After all, the central banks are purportedly at the ready, and, in the case of the ECB and BOE, are already swinging into action according to their shills in the MSM. MarketWatch thus noted,
Markets were boosted by reports indicating the European Central Bank is weighing changes to its bond-buying program, while ‘the Bank of England also said they are all in,’ said Joe Saluzzi, co-head of equity trading at Themis Trading.
The European Central Bank is considering changing the rules regarding the types of bonds it can buy as part of its stimulus package to amid concerns it could run out of securities to buy under current stipulations, according to Bloomberg News. The report followed comments from Bank of England Gov. Mark Carney, who indicated the central bank is poised to further ease monetary policy to combat
Well now, by the sound of it you would think that the madman Draghi is fixing to uncork the mother of all QEs if there is a danger that the ECB will ‘run out of securities to buy’.
Who would have thought that the debt engorged governments of the eurozone couldn’t manufacture enough IOUs to satisfy Mario’s ‘buy’ button? In fact, with public debt at 91% of GDP you would think that the $12.5 trillion outstanding would be enough to go around.

This post was published at David Stockmans Contra Corner on June 30, 2016.

Losing Ground In Flyover America, Part 3

As we indicated in Part 2, the Fed’s crusade to pump-up inflation toward its 2.00% target by hammering-down interest rates to the so-called zero bound is economically lethal. The former destroys the purchasing power of main street wages while the latter strip mines capital from business and channels it into Wall Street financial engineering and the inflation of stock prices.
In the case of America’s 80 million working age adults (25 or over) with a high school education or less, the Fed’s double whammy has been catastrophic. As we demonstrated yesterday, the employment-to-population ratio for this group has plummeted from 60% prior to the great recession to about 54% today.
In round terms this means that the number of job holders in that pool of the less educated has shrunk from 49.4 million to 43.5 million since early 2007. That’s nearly 6 million workers gone missing or 12% of the total from just nine years ago.
And as we documented yesterday this plunge is not due to aging demographics. The MSM meme that its all about the baby boom hanging up their spikes doesn’t wash; the labor force participation rate of persons over 65 has actually increased sharply in recent years.

This post was published at David Stockmans Contra Corner on May 28, 2016.

THE WORSE THINGS GET FOR YOU, THE BETTER THEY GET FOR WALL STREET

On October 2 the BLS reported absolutely atrocious employment data, with virtually no job growth other than the phantom jobs added by the fantastically wrong Birth/Death adjustment for all those new businesses springing up around the country. The MSM couldn’t even spin it in a positive manner, as the previous two months of lies were adjusted significantly downward. What a shocker. At the beginning of that day the Dow stood at 16,250 and had been in a downward trend for a couple months as the global economy has been clearly weakening. The immediate rational reaction to the horrible news was a 250 point plunge down to the 16,000 level. But by the end of the day the market had finished up over 200 points, as this terrible news was immediately interpreted as good news for the market, because the Federal Reserve will never ever increase interest rates again.
Over the next three weeks, the economic data has continued to deteriorate, corporate earnings have been crashing, and both Europe and China are experiencing continuing and deepening economic declines. The big swinging dicks on Wall Street have programmed their HFT computers to buy, buy, buy. The worse the data, the bigger the gains. The market has soared by 1,600 points since the low on October 2. A 10% surge based upon lousy economic info, as the economy is either in recession or headed into recession, is irrational, ridiculous, and warped, just like our financial system. This is what happens when crony capitalism takes root like a foul weed and is bankrolled by a central bank that cares only for Wall Street, while throwing Main Street under the bus.
The employment situation continues to deteriorate on a daily basis as Challenger, Grey & Christmas has reported layoff announcements by major corporations in 2015 that already exceed the total announcements in 2014. This is the reality versus the BLS 5.1% unemployment rate fantasy. Retail sales, which make up two thirds of the economy, are putrid and confirm the dreadful employment market. Corporate profits among S&P 500 companies have fallen for two straight quarters and are picking up steam in a negative direction, as accounting shenanigans cannot disguise falling revenue forever. Earnings per share estimates for future quarters fall on a daily basis.

This post was published at The Burning Platform on 27th October 2015.

More MSM Fantasy – – August Retail Sales Were Punk, Not ‘Bouyant’

If we go by the track of the ‘dollar’ in setting economic expectations, we would expect to have seen a noticeable drop in economic activity in the first part of the year followed by a very tepid rebound lasting only a few months (‘rebound’ is too charitable of a qualifier, more like ‘not getting directly worse’). The ugly appearance of the ‘dollar’ run starting in July and really working over August suggests renewed slump ahead, fully taking down any notions of ‘transitory’ ‘aberrations.’ Several data points have already followed that line, including Gallup’s view of consumer spending.
This morning’s retail sales report, expectedly, conformed. Overall retail sales, including the artificial contributions of the auto sector, had dropped to recessionary growth rates below 2% from February to May (1.44%, 2.32%, 1.35% and 0.69%, respectively) before ‘rebounding’ in the early summer (3.28% and 3.04%, June and July). The mainstream narrative took that as the end of the slump and a renewed, resilient and boosted (by energy savings, of course) consumer. But August retail sales were instead back under 2% (at just 1.55%) and once more recessionary.
Ex Autos, of course, the consumer looks much, much worse. August retail sales ex autos were flat at just 0.42% while ex autos ex food retail sales contracted for the fifth time out of the eight months of 2015 so far. In other words, August was far more March than June; not transitory.

This post was published at David Stockmans Contra Corner by Jeffrey P. Snider ‘ September 15, 2015.

The US Economy Is Not Awesome And, No, It’s Not Decoupled

When the bubble vision stock peddlers get desperate, they talk de-coupling. So by the end of today’s bloodbath you would have thought China was on another planet, and that ‘commodities’ were some trinket-like collectibles gathered by people who don’t wear long pants, drink coca cola or jabber on their cell phones.
On these fine shores, of course, its all awesome from sea to shinning sea. So don’t be troubled. Buy the dip.
Never mind that we are in month 74 of this so-called recovery and that after year upon year of promised escape velocity the reliable signs of said event are still few and far between. But the recovery narrative stays alive because there is always some stray factoids of seasonally maladjusted, yet-to-be-revised ‘incoming data’ that can excite the MSM headline writers and bubble vision talking heads.
Today the data on construction spending and housing took their turn in the awesome circle. Thank heavens that the headline writing software used by the financial press doesn’t yet read graphical data. Otherwise they might have reported that private residential construction soared in July – – well, all the way back to January 2002 levels!

This post was published at David Stockmans Contra Corner on September 1, 2015.

Iran Deal is about No Trust, Greeks Riot Over Bad Debt Deal, Trump GOP Front Runner Under Attack

The following video was published by Greg Hunter on Jul 16, 2015
I characterize the deal to curb Iran’s nuclear program as a deal between liars and cheaters. The cheater is Iran. They have cheated in the past on curbing their nuclear program. Just a few months ago, the UN accused Iran of cheating again. The liar is the Obama Administration. The lies by him and his administration are numerous. ‘You can keep your health plan.’ ‘Obama Care is going to be cheaper.’ Deserter ‘Bo Bergdahl served with distinction.’ With the IRS scandal, ‘Not even a smidgen of corruption.’ The list of provable lies is very long. (Go to USAWatchdog.com to get the Obama lie list.) So, when the President tries to defend his Iran nuke deal, lots of folks in both parties and our allies simply do not trust him. President Obama has not much ‘trust capital’ left. The Greek debt deal is also far from being a done deal. I characterize this deal as collateral and control. The bankers want Greek assets now as part of the bailout deal, not bonds and promises to pay, but tangible collateral. The bankers also want control or veto power over the Greek Parliament. Yes, I know the Greek Parliament voted for the onerous terms set out by the bankers, but have you seen the rioting in Greece? This deal will not stand, and there are going to elections that will throw out everyone who voted to sell out the Greek people. Count on it. Finally, Donald Trump has been getting a lot of grief for simply being a very unlikely front runner in the crowded GOP field. The MSM press is acting like an extension of the left wing of the Democratic Party. Republicans and Democrats are also taking shots at Trump, and I think it’s because they are all afraid of him. I think the attacks are unfair and show he’s doing something right.

Why Ronald Reagan Is Rolling In His Grave: The Keynesian Putsch At The Fed

Ronald Reagan is surely rolling in his grave. He is credited for much that he didn’t actually accomplish on the economic front, but his most singular real victory – -decisive repudiation of the Keynesian macro-economic policy model that had produced stagflationary havoc for more than a decade – -overshadows all his fiscal failures and the urban legend that he actually tamed Big Government.
Needless to say, however, that 35-year ago repudiation has now been itself completely repudiated by the keynesian apparatchiks who presently rule the Eccles Building. Yesterday Janet Yellen was at it again, displaying outright contempt for the Gipper’s crowning achievement.
To that end, she announced that interest rates will remain pegged at zero until at least September. That is, the Fed will continue to dispenseFREE MONEY to Wall Street gamblers for what will now be 80 months running.
This lunacy is purportedly necessary to accommodate economic recovery, even if it does fuel the fires of financial speculation. Indeed, one of the Fed’s faithful MSM flaks, Greg Ip of the Wall Street Journal, said as much in a hot off the press column obviously written in the Eccles Building:

This post was published at David Stockmans Contra Corner by David Stockman ‘ June 18, 2015.

From Whence Cometh Our Wealth – – The People’s Labor Or The Fed’s Printing Press?

It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier?
Well, yes there are. They spread this lunacy from the most respectable MSM platforms. And, no, I’m not talking about professor Krugman and his New York Times column. At least, he pontificates from a Keynesian framework that has a respectable, if erroneous, intellectual heritage.
What I am talking about here is the mindless bunkum issued by so-called financial journalists who swish around Wall Street and Washington exchanging knowing tidbits with policy-makers, deal-makers and each other. Call it the bubble finance ‘narrative’, and recognize that its gets more uncoupled from economic facts, logic and plausibility with each passing day in the casino.
The estimable folks at The Automatic Earth put a bright spotlight on this crucial matter this morning, even if not by design. Their trademark daily vintage photo was a 1911 picture of a family including all the kids picking berries in the field; they were making GDP the old fashioned way.
In the usual manner the site’s ‘debt rattle’ list of links to timely reads followed, and the first was a Bloomberg View opinion piece called’QE For The People: Monetary Policy For The Next Recession’ by one Clive Crook. It was actually a case for literally dropping central bank money from the skies to enable policy-makers to better ‘support demand and keep their economies running’.

This post was published at David Stockmans Contra Corner by David Stockman ‘ June 1, 2015.

A Tale Of Two Graphs – – Why Bubble Finance Will Fail

On Friday the BLS reported, among other things, that full-time employment in April had dropped by 252,000 from the prior month and that the weekly earnings of production workers had risen by the grand sum of 67 cents (0.1%) before inflation and taxes. But why should still another confirmation that the main street job market is dead in the water stop the robo-traders from another romp higher?
In fact, this incongruous spectacle of dead wages and soaring financial assets has been going on for several decades now – – a transparently obvious trend obfuscated by the unrelenting recency bias of the MSM and the authorized Wall Street/Washington narrative. So let Friday’s incongruous stock market rip serve as a portal into the ugly interior history of how central bank bubble finance has fostered an existential crisis in what remains of American capitalism.
On the main street side, this isn’t a matter of sluggish recovery from a mysterious financial crisis that arrived, apparently, on a comet from deep space in September 2008. Alas, for three decades running now, the constant dollar weekly wages of full-time workers have been flat as a pancake.
And let’s be clear. We are not talking here about after school jobs held by quasi-perpetual students, the meager pay of moonlighting moms or the episodic work gigs of society’s tens of million of loosely attached drifters.

This post was published at David Stockmans Contra Corner by David Stockman ‘ May 11, 2015.

WHOSE FAULT IS BALTIMORE?

I’ve seen the liberal lying MSM pondering how WE could allow the riots, looting, burning and lawlessness to happen, as if it is our collective fault. Obama stands before his teleprompter and pontificates about the need for us to end the poverty that supposedly led to Purge Night in Charm City. That term cracks me up. The city has so much charm, its football team once snuck out of town overnight and headed to Indianapolis. It has so much charm its baseball team was forced to play a game with no fans in the stands.
I think most people can agree that Freddie Gray, a petty drug dealer, was killed in police custody for the crime of looking suspicious. The policemen who killed him deserve to go to jail for murder. As usual, the powers that be circled the wagons and intended to exonerate the hero first responders. The people of Baltimore had a right to be pissed. They had a right to protest. They didn’t have a right to burn businesses and cars. They didn’t have the right to riot, loot, and injure others.
It is the police department created and controlled for decades by Democratic progressive politicians that has committed the atrocities against the people who have been electing these progressives year after year. Baltimore has a corrupt, reckless, out of control police department enabled by a crooked and incompetent Baltimore politicians. The rap sheet for Baltimore’s finest is long:
Police commissioner Ed Norris was sent to prison on corruption charges (2004) Two detectives were sentenced to 454 years in prison for dealing drugs (2005) An officer was dismissed after being videotaped verbally abusing a 14-year-old and then failing to file a report on his use of force against the same teenager (2011) An officer was been fired for sexually abusing a minor (2014) The city paid a quarter-million-dollar settlement to a man police illegally arrested for the non-crime of recording them at work with his mobile phone. The cries of racism and white oppression ring hollow. It’s a tired storyline. Facts are always inconvenient to race baiters with an agenda to extract more money from whites with a guilty conscience and the inability or unwillingness to speak the truth. Let’s examine some facts about good old Charm City, USA.

This post was published at The Burning Platform on 30th April 2015.