Daily News Digest Archives
Images Of the Day:
Juneteenth Holiday is a Symbolic Victory 
Federal Reserve Pumping the Bubble 
ther Example of Capitalism as a Failed System: World Capilalism Was Aware of the Danger of Cornovavirus Threat Over 5 Years 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 future of Humanity Is Now At stake!
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”
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:
One Knew That the First Amendment Right to Protest Would Be Quebstioned, When Amy Barret was Confirmed, Even Though She Could Not Include the Right to Protest Whe Asked About the First Amendment:
When asked by Sen. Ben Sasse (R-Neb.) to name the five freedoms, Barrett was able to name freedom of speech, press, religion and assembly, before looking puzzled and saying, “;What else am I missing?;” Sasse then told Barrett she had forgotten “redress or protest.” — Amy Coney Barrett Forgets Right To Protest Is A First Amendment Freedom
The 1% Are Keeping Trump Types, on the Ready, To Apply, In Jack London’s Words, The Iron Heal!: “The Republicans know that many Blacks and Latinos tend to vote Democrat, so they hope that, in 2022, this will help them win back control of the Senate and House, which is now almost evenly divided between the two capitalist parties. In themselves, these laws and regulations are an attack on bourgeois democracy. More important for the longer run is that this drive helps mobilise the Republican Party’s white racist base, which portends more attacks on broader democratic rights. We should note that both parties support white supremacy, or institutionalised racism. From the beginning of the United States, the ruling parties have supported slavery and then capitalism and the national oppression of African Americans with the partial exception of the short period of Reconstruction. This spills over into oppression of other people of colour. What distinguishes the present-day Republicans is that they are more openly white supremacist and harbour white power nationalism, which seeks to impose white supremacy by force, as it was in the full-blown Jim Crow system. Trump remains the spokesperson and leader of the drive to install a racist, Bonapartist-type dictatorship.” — Barry Sheppard, United States: Could Trump’s Supporters Stage Another Coup?
This ruling has disturbing implications for future victims of human rights abuses seeking justice against businesses in U.S. courts. This ruling also sets a dangerous precedent, giving corporations impunity for profiting from human rights abuses. — Marco Simons, Earth Rights International, — ‘Dangerous Precedent’: US High Court Sides With Corporate Giants Nestle and Cargill in Child Slavery Case
Videos of the Day:
United States:
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 ownershipof the Reublicrats, who profit from war and the war budget, voted 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!
Preparations for the Iron Heal: Over 100 Anti-Protest Bills Have Been Introduced Since George Floyd Rebellion Often backed by organizations affiliated with police unions, the laws encompass a wide range of punitive tactics. By.Ella Fassler
Critics Say Bipartisan Infrastructure Proposal Will Enrich Wall Street Investors Refusing to touch the 2017 GOP tax cuts for the wealthy and large corporations, a bipartisan group of 21 senators is proposing a series of alternative infrastructure funding mechanisms that critics say amount to a thinly veiled scheme to privatize the nation’s roads, bridges, and water systems. In a two-page memo (pdf) outlining its yet-to-be-finalized infrastructure plan, the bipartisan group lists “public-private partnerships, private activity bonds, and asset recycling” as potential ways to finance the package, which calls for $579 billion in new spending over five years. Asset recycling refers to the practice of leasing out or selling off public infrastructure to private corporations and using the proceeds to fund other projects — a policy that Australia has used widely and that former U.S. President Donald Trump proposed replicating in 2017. By Jack Johnson
The Federal Reserve Is Slowly Starting To Admit It Has An Inflation Problem The best that can be said of today’s Federal Reserve meeting is that the Fed is no longer in total inflation denial. However, it certainly cannot be said that the Fed has taken policy action to address its present twin challenge of rising inflation and emerging asset price bubbles. This raises the chances that we will have a hard economic landing next year. By Desmond Lachman
‘Dangerous Precedent’: US High Court Sides With Corporate Giants Nestle and Cargill in Child Slavery Case “This ruling has disturbing implications for future victims of human rights abuses seeking justice against businesses in U.S. courts. This ruling also sets a dangerous precedent, giving corporations impunity for profiting from human rights abuses.” —Marco Simons, EarthRights International A lawyer for six men who alleged they were victims of human trafficking said the corporations “should be held accountable for abetting a system of child slavery.” By Julia Conley
Environment:
33 Wildfires Are Already Burning Across 10 States – and Summer Hasn’t Even Begun Federal meteorologists and climate experts say the potential for another devastating wildfire season is higher than normal for much of the western United States, where a brutal heat wave shattered temperature records across multiple states this week. Mike Ludwig
Everyone Wants to Sell the Last Barrel of Oil The Keystone XL win—and the Line 3 battle—make clear that cutting off the supply of oil is a key part of the climate fight. Afinal victory last week over the Keystone XL pipeline is a reminder that fighting particular fossil-fuel projects is a necessary strategy if the climate is to be saved. The defeat of Keystone XL doesn’t mean that Canada’s vast tar-sands project, which is generally regarded as the largest industrial project in the world, is over, but the fight has been a gut punch to the fossil-fuel industry. By Bill McKibben
Civil Rights/Black Liberation:
I would just like to say this in my conclusion. You’ll see terrorism that will terrify you, and if you don’t think you’ll see it, you’re trying to blind yourself to the historic development of everything that’s taking place on this earth today. You’ll see other things. Why will you see them? Because as soon as people realize that it’s impossible for a chicken to produce a duck egg even though they both belong to the same family of fowl — a chicken just doesn’t have within its system to produce a duck egg. It can’t do it. It can only produce according to what that system was constructed to produce. The system in this country cannot produce freedom for an Afro-American. It is impossible for this system, this economic system, this political system, this social system, this system, period. It’s impossible for this system as it stands to produce freedom right now for the Black man in this country. And if ever a chicken did produce a duck egg, I’m certain you would say it was certainly a revolutionary chicken! — Malcolm X March 29, 1964
To End Racial Capitalism, We Will Need to Take On the Institution of Policing The words “I can’t breathe” were not only uttered by Eric Garner and George Floyd as they were murdered by police. They were also uttered by over 70 others who died in law enforcement custody over the past decade after saying those same three words, according to the The New York Times. Policing in the United States is a force of racist violence that is entangled at the core of the capitalist system. As Robin D.G. Kelley pointed out on Intercepted With Jeremy Scahill, capitalism and racism are not distinct from one another: “If you think of capitalism as racial capitalism, then the outcome is you cannot eliminate capitalism, overthrow it, without the complete destruction of white supremacy, of the racial regime under which it’s built.”
Labor:
The 50 Trillion Dollar Question: What is Austerity? The modern system of austerity took shape in the mid-1970s and we are still in its grip. Austerity is meant to trap us in a destructive double-bind; the race to the bottom for millions of people is also the race to the top for the few. The cost? More than $50 trillion. The human cost in misery, death, and despair? Devastating yet uncounted. By Richard Moser
Economy:
Shadow Government Statistics Daily Update (June 16th to 19th) General Headlines
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Pandemic-Driven U.S. Economic Collapse Continues to Harden in a Protracted “L”-Shaped Non-Recovery
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Revisions and Pending Revisions to Key Economic Numbers Show Not Only That the Collapse Was Worse Than Headlined, But Also That the Unfolding Recovery Has Been Much Weaker Than Indicated
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Severe Systemic Structural Damage from the Shutdown Is Forestalling Meaningful Economic Rebound into 2022 or Beyond, Irrespective of the Advances in Coronavirus Vaccines
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Panicked, Unlimited Federal Reserve Money Creation and Federal Government Deficit Spending Continue and Likely Will Expand, Triggering Major Domestic Inflation
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With Fundamental Dollar Debasement Intensifying, Holding Physical Gold and Silver Protects the Purchasing Power of One’s Assets, Irrespective of Any Near-Term Central Bank or Other Machinations to the Contrary.
Shadow Government Alternate StatisticsInflation Charts The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.
JPMorgan, Citigroup and BofA Ruled Not “Fit” to Participate in Huge European Bond Offering Because of Past Crimes How embarrassing it must be for Jerome Powell, Chairman of the Federal Reserve, that three of the largest banks in the U.S. that are supervised by the Fed, have been deemed not trustworthy enough by the European Commission that they were banned from participating in this week’s historic European Union bond offering. It is also egg on the face of the U.S. Department of Justice, which has been handing out deferred prosecution agreements to these same banks for felony counts like it’s a meter maid doling out parking tickets. JPMorgan Chase, Citigroup and Bank of America were banned along with seven non-U.S. banks from participating in this week’s European Union bond offering. The syndicated offering is part of what will grow over the next five years to be a $969 billion COVID-19 recovery fund for the European Union, part of the plan it’s calling NextGenerationEU. By Pam Martens and Russ Martens
World:
The Failure of Capitalism — Not of Humanity!: ‘Epic Failure of Humanity’: Global Displaced Population Hits All-Time High The tragedy of so many children being born into exile should be reason enough to make far greater efforts to prevent and end conflict and violence.” The U.N.’s annual Global Trends in Forced Displacement (pdf) assessment estimates that girls and boys under the age of 18 account for 42% of the 82.4 million people who have fled their homes in search of safety and basic human dignity. Nearly a million children were born as refugees between 2018 and 2020, the report shows. The U.N.’s annual Global Trends in Forced Displacement (pdf) assessment estimates that girls and boys under the age of 18 account for 42% of the 82.4 million people who have fled their homes in search of safety and basic human dignity. Nearly a million children were born as refugees between 2018 and 2020, the report shows. By Jake Johnson
Education, Health, Science, 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!
94% of Americans Oppose Big Pharma’s Control of Global Covid-19 Vaccine Doses: Poll Half of U.S. adults also consider it unacceptable that pharmaceutical corporations, which monopolized dose production, have profited substantially from vaccines developed using public funding By Kenny Stancil
