Author Archive

Bad Economic Policy Is Partly to Blame for Ferguson

The Terrible Handling of the Economic Crisis Is a Cause of the Ferguson Riots

 

We noted 3 years ago that the terrible handling of the economic crisis would lead to civil unrest and riots.

We noted that:

A study this month by economists Hans-Joachim Voth and Jacopo Ponticelli showsthat – from 1919 to the present – austerity leads to violence and instability:

Does fiscal consolidation lead to social unrest? From the end of the Weimar Republic in Germany in the 1930s to anti-government demonstrations in Greece in 2010-11, austerity has tended to go hand in hand with politically motivated violence and social instability. In this paper, we assemble cross-country evidence for the period 1919 to the present, and examine the extent to which societies become unstable after budget cuts. The results show a clear positive correlation between fiscal retrenchment and instability. We test if the relationship simply reflects economic downturns, and conclude that this is not the key factor. We also analyse interactions with various economic and political variables. While autocracies and democracies show a broadly similar responses to budget cuts, countries with more constraints on the executive are less likely to see unrest as a result of austerity measures.

As CNN notes:

Studying instances of austerity and unrest in Europe between 1919 to 2009, Ponticelli and Voth conclude that there is a “clear link between the magnitude of expenditure cutbacks and increases in social unrest. With every additional percentage point of GDP in spending cuts, the risk of unrest increases.”

“Expenditure cuts carry a significant risk of increasing the frequency of riots, anti-government demonstrations, general strikes, political assassinations, and attempts at revolutionary overthrow of the established order. While these are low probability events in normal years, they become much more common as austerity measures are implemented.”

The looting and chaos in Ferguson, Missouri is not justifiable … but it’s largely caused and inspired by the looting on Wall Street.

As basketball great Kareem Abdul-Jabbar notes, this isn’t a race war … it’s a class war.  And corrupt government policy is largely to blame.

Category: Economy, Think Tank, War/Defense

Roots of Iraq / Syria Wars Go Back 60 Years

It’s Always Been about Oil and Pipelines The same issues which drove war and terrorism in the Middle East in the 1930s and 1940s are still driving it today The best way to see this is to start with today, and work backwards … The U.S. is bombing Iraq again in order to protect the…Read More

Category: Think Tank, War/Defense

S&P: Widening Inequality Bad for GDP, Good for Boom/Bust Cycles

Standard & Poor’s: Runaway Inequality Dampens GDP Growth, Leads to Boom/Bust Cycles and Discourages Trade, Investment and Hiring Inequality Also Dampens Social Mobility, Increases Political Pressure and Produces a Less Competitive Workforce Standard & Poor’s released a report on inequality today, concluding: Higher levels of income inequality increase political pressures, discouraging trade, investment, and hiring. Keynes…Read More

Category: Taxes and Policy, Think Tank, Wages & Income

ISIS Thanks John McCain for Making their Rise to Power Possible

ISIS Terrorists Credit the Iraq War for Their Success   We’ve noted for months that the ISIS terrorists wouldn’t have been able to take over Iraq if we hadn’t launched the idiotic Iraq war and “regime changed” the country. But don’t take our word for it … the ISIS barbarians just agreed. Breitbart reports: The…Read More

Category: Think Tank, Weekend

Quantifying the Effects of U.S. Regime Change

All of the Countries which the U.S. “Regime Changed” – Iraq, Afghanistan and Libya – Have Descended into Brutal Chaos Since 2001, the U.S. has undertaken regime change in Iraq, Afghanistan and Libya. All 3 countries are now in chaos … and extremists are more in control than ever. Iraq In Iraq, hardcore Islamic jihadis…Read More

Category: Think Tank, War/Defense

NSA Helps Crush Dissent at Home and Abroad

NSA Helps Saudi Arabia Crush Dissent … Like It Helps Crush Dissent at Home Numerous high-level NSA whistleblowers say that NSA spying is about crushing dissent and blackmailing opponents … not stopping terrorism. In addition, the NSA is giving the raw data on American citizens living in the U.S. to Israel.  That doesn’t seem to be a…Read More

Category: Think Tank, War/Defense

The Losers From U.S. Sanctions: AMERICAN Businesses

U.S. Sanctions Against Foreign Nations Are Hurting American Companies Who are the losers from U.S. sanctions?  American companies. Two giant U.S. business groups – the U.S. Chamber of Commerce and National Association of Manufacturers – ran ads in the New York Times, Wall Street Journal and Washington Post protesting sanctions against Russia.  These are not…Read More

Category: Think Tank, War/Defense

What Exactly Are Spy Agencies Actually Doing?

What Exactly Are the Spy Agencies Actually DOING with their Bag of Dirty Tricks? SPECIFIC EXAMPLES OF WHAT THEY MAY BE DOING Newly-released documents from Edward Snowden show that the British spy agency GCHQ has developed numerous offensive digital tools. But what exactly are they doing with these dirty tricks? We think it’s important to…Read More

Category: Think Tank, War/Defense

How the Military Manipulates the Web

Eglin Air Force Base Busted Gaming Reddit The Pentagon and spy agencies have been busted manipulating the Internet – including social media – in order to promote false propaganda and to stifle dissenting information. Earlier today, newly-released Snowden docs showed that British spies manipulate polls, website popularity and pageview counts, censor videos they don’t like and…Read More

Category: Think Tank, War/Defense, Web/Tech

How the West Uses Islamic Extremists to Topple Enemies

57 Years Ago: U.S. and Britain Approved Use of Islamic Extremists to Topple Syrian Government Have the U.S. and Its Allies Intentionally Balkanized Syria Into Smaller Regions? BBC reports that – in 1957 – the British and American leaders approved the use of Islamic extremists and false flag attacks to topple the Syrian government: Nearly…Read More

Category: Think Tank, War/Defense