Capitalism is Now a Worldwide Threat to Humanity! It is on the Fast Track to Global Warming and/or Nuclear War Catastrophes!
Images of the Day:
The Democracy We’ve (The 1%) Decided You (The 99%) Deserve! 
Since World War I, ‘the war to end all wars’, there have been perpetual wars for perpetual peace, this Laura Gray’s cartoon from the front page of The Militant August 18, 1945, Under the Banner Headline: “There Is No Peace”, is Still True for Today’s World!
Capitalism as a Failed System: World Capitalism Has Been Aware of the Comming Catastrophe of Global Warming Over 5 Decades Ago and Did Nothing!: Under Capitalism — Human Lives Don’t Matter Capitalism Does Not, and Never Has, Worked for the Masses! In Its Death Agony, Capitalism Is Traveling About The World Like The Four Horsemen of the The Apocalypse, Spreading Racism, War, Famine, Pestilence, and Death. The very future of Humanity Is Now At stake!
During This Economic Crisis, Capitalism’s Three-Point Political Program: 1. Austerity,2. Scapegoat Blacks, Minorities, and ‘Illegal’ Immigrants for Unemployment, and 3. The Iron Heel! For Decades, Blacks Have Been Subjected to The Iron Heel! Currently, the US Capitalist Class is Divided Over When — Not If, to Apply It to Everyone!
Due to Years of Austerity, Cuts to Public Health Care, And An Anti-Science and Profiteering President, The United States Now Leads the World In Coronavirus Cases and Deaths in the World!
Always Remember: That President Obama, With a Majority Democrat Legislature Supported the Wall Street Bailout and Remember, That he Established, in writing, the United States Capitalist Austerity Program. — The Race to the Bottom/Pauperization of the 99%!
Democracy?: As the Capitalist Robber Barons Steal from the 99%, Only the 1% Voted For Austerity! The 99% Should Decide On Austerity — Not Just The 1%, Who Profit From Austerity!! Under Austerity, All of the World Will Eventually Be Pauperized, Humbled, and Desecrated Like Greece and Puerto Rico.! Socialism Means True Democracy, that the 99% Will Rule, Not the Few!
Quotes of the Day:
Under Capitalism. There is No ‘Right to Life’! Under Capitalism, there is no right to life, liberty, and the pursit of happinss. — Just wanton a quest more and more proftits as it pollutes and heats the planet. In todays epoch od imperialsy decay, The right to profit supersedes life!
Religion is the organization of spirituality into something that became the hand maiden of conquerors. Nearly all religions were brought to people and imposed on people by conquerors, and used as the framework to control their minds. — John Henrik Clarke
Videos/Podcasts of the Day:
A Lifelong Shrimper, Fisherwoman & Activist
‘Barclays Funds Climate Chaos’: Bank’s AGM Disrupted By Climate Protesters – Video
The United States is not a Democracy (A government in which the supreme power is vested in the people and exercised by them directly)! Only the 1%, through their ownership of the Republicrats and who profit from war and the war budget, vote for War and the war budget — A policy, which Gore Vidal called a Perpetual War for Perpetual Peace. — The 99% Should Decide On War — Not Just The 1% Who Profit From War! Under a Democracy, The 99% would have the right to vote on the policy of Perpetual War for Perpetual Peace! The United States takes from the poor and gives to the Rich. Tax the Rich! — They Can Afford To Pay! Both Parties Support U.S. Capitalism’s Wars! (The Only War the Democrats Opposed was the Civil War!)
We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both. — Louis D. Brandeis Quotes
The greatest purveyor of violence in the world today — my own government. MLK, Beyond Vietnam
Preparing for War: the Global Military Budget $2.24 trillion in US dollars is a mighty amount. It’s also a sickening figure when considering the object of this exercise. The flickering tease of war, the promise of bloodshed and an increasingly large butcher’s bill, are inevitable suggestions from such a figure. The scenes are also clear: well-paid suits dazed by theories of the next war; policy wonks jabbering over mock war games. A huge amount of money is being pushed into the venture, and the sceptics are being held at bay.
The Current War Machine Isn’t Your Grandparents’ Military Industrial Complex The MIC is consuming many more tax dollars and feeding far larger weapons producers than when President Eisenhower first raised the alarm about the “unwarranted influence” it wielded in 1961.
The Debt Ceiling Debate Is a Manufactured Crisis. Tax the Wealthy What They Owe. The budget-balancing problem in the U.S. stems from military spending and tax cuts for the rich. . . . The exact day when the U.S. will run out of cash isn’t known, since ongoing revenue streams are always something of a matter of informed guesswork, but the Treasury estimates it’s very soon. Earlier this year, Treasury Secretary Janet Yellen estimated that the doomsday date would hit in June. Then, with better-than-expected tax revenues coming in, analysts said it could be sometime in August. Now, Yellen has again said the doomsday date could be as early as June 1. Whenever the government runs out of wriggle room, however, economists are pretty much unanimous in warning that the damage of Congress not raising the debt ceiling — or agreeing to raise it, as the House recently did, but putting in place so many right-wing political priorities as part of the bill that President Biden won’t sign the legislation — would be profound. It would likely trigger a massive contraction in the economy and lead both to soaring interest rates and huge credit crunches, which would result in millions of people losing their jobs, and faith in the U.S.’s good credit, carefully stewarded since the late 18th century, being shattered.
How the Supreme Court Elected GW President: Memo Reveals How Sandra Day O’Connor Helped Get George W. Bush to the White House The right-wing justice sought to influence the opinions of others on the high court even before they heard arguments in Bush v. Gore
Don’t Laugh, There Is a Policy Solution to the Problem of American Journalism If we can’t figure out a way to pay local reporters then, as a country, we’re only left with that many more blind spots to where the bull is happening. You hear about all these newsrooms getting cuts. That’s every article that Tamara has been sending me the last two months. It’s just the newsroom is getting cut. We’re cutting people. We’re cutting budgets. But you never hear about the multimillion dollar executives reducing their salaries within these organizations. Now, how do we fix this? I don’t know. I’m a comedian. Like many other journalists, past and present, I laughed and nodded at Roy Woods Jr.’s jokes at the 2023 White House Correspondents’ Dinner. But, as Mr. Woods and President Joe Biden made clear, the challenge facing American journalists is no joke. And, no, we should not expect comedians to propose solutions to our problems, but we should expect the President and his staff to propose solutions to the serious problems of democratic deliberation in America. We have heard none.
Environment — Ecosocialism of Ecocide!:
‘One of the Corporate Scandals of Our Times’: Shell Posts Record $10 Billion in Profits “We have a choice: protect fossil fuel profits or protect the future of our planet,” said British MP Jeremy Corbyn. The British oil behemoth Shell reported a record $9.6 billion in first-quarter profits on Thursday and announced $4 billion in stock buybacks, prompting fury from environmentalists and progressive lawmakers who say the fossil fuel industry’s profiteering is grotesque amid a worsening climate emergency and cost-of-living crises across Europe.
Residents Call for Shut Down of PA Shell Plastics Plant After Chemical Leak For six months, the plant has been the site of multiple malfunctions, including a leak of benzene, a known carcinogen. When Shell Chemical Appalachia announced the start of a massive plastics manufacturing facility last November in western Pennsylvania, the subsidiary of oil major Shell described it as “world-class,” and touted the company’s “strong and innovative safety focus.” But now, just six months later, the plant has been the site of multiple malfunctions, including the leakage of benzene, a known carcinogen, along with other pollutants last month. The events come with putrid chemical odors and have area residents fearing for their health and calling on state officials to shut the plant down.
Hot Air: Five Climate Myths Pushed by the US Beef Industry These are the arguments spun by big beef titans to persuade consumers that meat eating has negligible impact on the planet A Masters of Beef Advocacy program teaches ‘scientific sounding’ arguments on cattle’s sustainability in an all-out public relations war These are the arguments spun by big beef titans to persuade consumers that meat eating has negligible impact on the planet.
Civil Rights/Black Liberation:
Ocasio-Cortez Slams Adams for Attack on ‘Very Services’ That Could Have Helped Jordan Neely “Jordan Neely was murdered,” said the congresswoman. “But because Jordan was houseless and crying for food in a time when the city is raising rents and stripping services to militarize itself while many in power demonize the poor, the murderer gets protected.”
Margaret Kimberley, BAR Executive Editor and Senior Columnist: Whither Black Voters in 2024Whither Black Voters in 2024 . . . . The ruling class, the 1%, the oligarchy, call them what you will, are making sure they get what they want, but what about everyone else? Specifically, what about Black people? Where do they stand politically, and what do they stand to gain from this election? Aside from stating the obvious, that they don’t want a republican president, no one is asking questions about what they want or need. For a long time Black politics has amounted to little more than wanting to keep republicans out of office and the end result has been catastrophic. In 2024 the people must finally free themselves from the duopoly trap and make demands.
Labor:
Economy:
But, it’s not true; not according to the data. Keep in mind that, by “inflation” we mean a general rise in prices. According to the Bureau of Labor Statistics, keeper of the stats, what cost $100 in March 2021 cost $113.95 last month, a 14% rise. In March 2021, the average working person received $39.01 per hour in wages and benefits, rising last month by just $3.71 or 9.5% over the last two years. That translates to a cut in real wages, of 5.5%, a loss in buying power for the average worker of over $4,000 per year ($4,155). Wages are not close to catching up to price hikes. In other words, Dr. Powell, wage workers are the victims of the price hike, not its cause. ˝ — Greg Palast, Powells Bag of Leeches
Banking Crisis: is It All Over? Bank stock prices have stabilized at the start of this week. And all the key officials at the Federal Reserve, the US Treasury and the European Central Bank are reassuring investors that the crisis is over. Last week, Fed Chair Jerome Powell called the U.S. banking system “strong and resilient” and there was no risk of a banking meltdown as in 2008-9. US treasury secretary Janet Yellen said that the US banking sector was “stabilizing”. The US banking system was strong. Over the pond, ECB president Lagarde has repeatedly told investors and analysts that there was “no trade-off” between fighting inflation by raising interest rates and preserving financial stability. So all is well, or at least soon will be, given the massive liquidity support that the Fed and other US government lending bodies are offering. Also the stronger banks have stepped in to buy up the collapsing banks (SVB or Credit Suisse) or plough cash into failing ones (First Republic). So is it all over? Well, it ain’t over til it’s over. The latest Fed data from show that US banks lost $100bn in deposits in one week. Since the crisis started three weeks ago, while the large US banks have added $67bn, the small banks have lost $120bn and foreign-owned banks $45bn.
Shadow Government Statistics Daily Update May 2nd to 3rd
- Part I –BOTTOM LINE– Systemically Dangerous and Perilous FOMC Activity is Likely in the Week Ahead.
- Part II –REGULAR ALERTS– Weekly Review: ECONOMY, MONEY SUPPLY AND INFLATION ALERTS: Broad Economy continues in downturn, amidst spiking Inflation.
- (I) – BOTTOM LINE COVERAGE: A ninth, consecutive FOMC Meeting Interest Rate hike is expected tomorrow, Wednesday, yet the U.S. Economy already is in intensifying Recession. Where current inflationary pressures appear to be tied to excessive Monetary stimulus out of the Fed, not due to an overheating economy, still higher interest rates, now, would do little to contain inflation, while at the same time, higher interest rates would continue to impair economic activity.
- Noted frequently here and discussed subsequent to earlier FOMC Meetings (March 22nd was the last), little has changed: The Federal Reserve’s Federal Open Market Committee (FOMC) hiked the targeted Federal Funds Rate March 22nd by the expected 0.25%, to a 15-year high level of 5.00%, hoping still to induce an imminent Economic Recession, which otherwise already had been in play and deepening for some time, due to earlier rate hikes.
- With a further quarter-point rate hike expected out of this week’s FOMC Meeting, following nine consecutive FOMC Meeting rate hikes (0.25% at the last three meetings, 0.50% and 0.75% earlier), the U.S. Central Bank appears intent on using surging interest rates to drive the U.S. economy into the ground.
- Yet, as discussed here frequently, the “problem” inflation largely is being driven by the FOMC’s still explosive Money Supply and System Liquidity growth, not by an overheating economy. Consider that March 2023 “Basic M1” (Currency plus Demand Deposits [Checking Accounts]) gained anew, month-to-month, still holding at 120.5% above, albeit somewhat shy of the peak 122.5% above its February 2020 Pre-Pandemic level. Separately, the inflation issue is complicated by independently rising gasoline prices, not by any overheating economy!
- (II) – REGULAR ALERTS Again, as noted after the February 2023 rate hike, despite Fed Chairman Jerome Powell’s continued downplaying risks for the FOMC’s “hoped-for” imminent Recession, which otherwise ostensibly is why he was raising rates, that downturn already was and is in play. Underlying headlines of better-quality U.S. economic numbers, reviewed here in Part II [see Points (1) to (17)], suggest that the United States has been in Recession since First-Quarter 2022, allowing for the political games played with the Strategic Petroleum Reserve depletion, which otherwise also accounted for the headline boost in Second-Half 2022 (Third- and Fourth-Quarter 2022) GDP growth.
World:
Portugal: the Costa Government On the Brink A major political crisis unfolded this week in Portugal. A scandal over the nationalisation of TAP airline spiralled out of control, and has caused an open conflict between the presidency and the government. António Costa’s Socialist Party was swept into power with an absolute majority in January 2022. Little over a year later, it is racked by scandal and division.
Brazilian Police Allege ‘Criminal’ Forgery of Bolsonaro Covid Vaccine Card Before US Trip The far-right former president is a notorious Covid-19 vaccine skeptic who once warned that getting inoculated against the coronavirus could turn people into alligators
Education. Health, and Welfare:
The government of the United States can pass laws in a few days to spend tens of trillions of dollars for war and the bailout of Wall Street and the bankers. Yet, those who, pass universal healthcare for themselves, but cannot spend even one trillion dollars for universal health for those who are ‘governed’! This is what is considered, by the powers to be, a democracy and part of the democratic way. — Roland Sheppard, Let the People Vote on Healthcare
Profiteering Against the Public Interest: Privatization of Health Care by Unitedhealth Group Privatization of public programs such as Medicare and Medicaid has been proceeding rapidly in recent years with little coverage by the media of its harms to patients, the public and taxpayers. This article has four goals: (1) to bring brief historical perspective to this trend in the U. S.; (2) to shed light on the experience over the last 12 years of profiteering by UnitedHealth Group, now the largest U. S. private health insurer; (3) to describe negative impacts on our health care system; and (4) to briefly consider lessons that can be learned from this concerted and stealthy exploitation of the public interest through the corporate greed of UnitedHealth.
Keeping a Bird’s Eye on Bird Flu Scientists are monitoring mutations in H5N1, a pathogenic avian flu that may be moving in our direction. On May 11, the national emergency over the COVID-19 pandemic will end, more than three years after it was first declared during the Trump administration. Never mind that nearly 90,000 new cases are still being diagnosed each week in the U.S. and about 1,000 deaths were recorded for the same period. For most people, life is returning to normal, if there ever will be a “normal” again. In the meantime, scientists are keeping a wary eye on the next apparent threat: the danger that a highly pathogenic variant of bird flu, which is exploding around the world, will jump to humans and cause another, possibly much worse, pandemic. A new study by researchers in Maryland, published last month in the journal Conservation Biology, underscores just what we might be up against. And it’s not yet clear whether the kind of coordinated response needed to fight the new threat, requiring local, state, and federal responses, is ready to go.