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Bankruptcy Won’t Keep Remington From Producing Guns

Two-hundred-year-old gun manufacturer Remington has recently declared bankruptcy, which has some gun violence advocates thrilled -- but they should put away the party hats. The...

FirstEnergy Solutions’ Bankruptcy is a Cautionary Tale for Utilities, Investors, and Public Officials

______________________________ Via Common Dreams. This piece was reprinted by RINF Alternative News with permission or license.

FirstEnergy Solutions’ Bankruptcy is a Cautionary Tale for Utilities, Investors, and Public Officials

______________________________ Via Common Dreams. This piece was reprinted by RINF Alternative News with permission or license.

Whither Privacy? Physician Shadowing in an Age of Moral Bankruptcy

Amazing Things are Happening Here. — Motto of Weill Cornell and New York-Presbyterian Countless times as a patient both at Memorial Sloan Kettering and Weill Cornell in...

Puerto Rico's Bankruptcy Will Make Hurricane Recovery Brutal — Here's Why

Aerial photo of the floadings in the costal town of Loiza, in the north shore of Puerto Rico. Hurricane Maria passed through Puerto Rico...

Roads & pensions swept up in Puerto Rico’s $123bn bankruptcy

Puerto Rico’s bankruptcy process has spread to the territory’s pension system and highway authority, bringing the amount involved to over $120 billion and far...
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Video: Puerto Rico’s Financial Future Now in the Hands of a Single Judge Overseeing...

http://democracynow.org - Puerto Rico has announced plans to close 179 public schools just days after filing for a form of bankruptcy protection, seeking to...

Puerto Rico to shut 179 schools, relocate 27k students amid historic bankruptcy

The largest mass shuttering of public schools in Puerto Rico’s history follows the island declaring bankruptcy...

Biggest Losers From the Puerto Rican Bankruptcy

Back in 2013, markets tumbled (if briefly) on the news that Detroit would file for bankruptcy, at the time the biggest municipal bankruptcy in...

‘Breaking point’: Puerto Rico files for historic $70bn bankruptcy

The Commonwealth of Puerto Rico is seeking the largest municipal bankruptcy filing in US history, after failed negotiations with creditors over its $70 billion...

Nuclear Power Bums, Bailouts and Bankruptcy

Photo by Mark Goebel | CC BY 2.0 You have to hand it to the nuclear industry for socializing costs and privatizing profits. Last year,...

Westinghouse Bankruptcy Leaves Costly Nuclear Mess for Southern Utility Customers

Federal and state officials who oversee nuclear power can't say they weren't warned that financial disaster was a very real possibility should they approve...

Peabody Coal Bankruptcy Reveals Climate Denial Network Funding

(Photo: Jeffery Scism) You don't need an ad blocker to view Truthout, because we don't run advertisements. In fact, we refuse all corporate-interest...

Historic East Cleveland, Ohio: A city in decline faces bankruptcy

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. In the shadow of the Republican National Convention Leah Jeresova Cleveland, the second...

Organizers Say Peabody Coal Will Not Escape Justice Through Bankruptcy

Protesters shut down traffic outside Peabody Coal's headquarters during rush hour on on April 21, 2016 -- with a fence bearing their...

Obamacare bankrupting health insurers, too: Largest insurer loses $1 billion a year, says it’s...

Americans who are suffering rate increases and higher out-of-pocket expenses thanks to the healthcare "reforms" of the "Affordable" Care Act, are about to get...
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Video: Puerto Rico’s Debt Crisis is Focus of 2 Congressional Hearings as Dems Propose...

[youtube https://www.youtube.com/watch?v=NyIH_595wes&w=580&h=385] http://democracynow.org - Democracy Now! co-host Juan González reports Congress held two hearings on the Puerto Rican debt crisis Thursday after House ... Via Youtube

Walter Energy bankruptcy threatens thousands of workers and retirees

By Shelley Connor Bankruptcy proceedings for Birmingham, Alabama-based Walter Energy could have serious consequences for both retired and current employees. Throughout 2015, the struggling company laid off...

Arch Coal Bankruptcy: The End of an Era

Longview, WA - Arch Coal, Inc., the second largest coal supplier in the United States, announced today that it would be filing for bankruptcy...

State officials, Wall Street target Detroit schools for bankruptcy restructuring

By Nancy Hanover The Detroit News revealed this week that Detroit Public Schools (DPS) debt payments will balloon from $6.6 million to $26.8 million a month...
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Video: Days of Revolt: The Moral Bankruptcy of the Left on Prostitution

[youtube https://www.youtube.com/watch?v=NWggaTPuvMU&w=580&h=385] In this episode of teleSUR's Days of Revolt, Chris Hedges and anti-prostitution advocates Lee Lakeman and Alice Lee discuss the Left's absence in...

US bankruptcy judge overturns A&P supermarket labor agreements

By Alan Whyte A federal bankruptcy judge has recently made a number of rulings in favor of the US supermarket chain A&P (Great Atlantic & Pacific...

The G20 summit: A spectacle of political bankruptcy

Nick Beams The meeting of G20 finance ministers and central bankers held in Ankara, Turkey over the weekend underscored the inability of the major capitalist...

Pennsylvania school district faces bankruptcy amid budget deficit

Many schools in the US state of Pennsylvania are on the brink of collapse due to the state government’s failure to pay subsidies. One of...

Second-largest US coal producer files for bankruptcy

By Andre Damon Alpha Natural Resources, America’s biggest producer of metallurgical coal and the country's second-largest coal producer, filed for bankruptcy protection Monday. The bankruptcy filing...

Pope Francis Calls for Global Bankruptcy Process

WASHINGTON - Pope Francis called for an international bankruptcy process in a news conference as he left Latin America on Monday. According to the...
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Video: Is Puerto Rico America’s Greece? U.S. Commonwealth Seeks Bankruptcy Help in Face of...

[youtube https://www.youtube.com/watch?v=t1gJ5U6aDnw&w=580&h=385] http://democracynow.org - Puerto Rico could be on the verge of following Greece in defaulting on its debt. Puerto Rico's government and the Puerto...
April 16, 2015. British farmer John Kopiski, Russian citizen since 1997, during the annual Direct Line with Vladimir Putin special broadcast in the main studio of Moscow

‘Bankruptcy closer every day, and you believe statistics?’

An expat Englishman, who runs a farm not far from Moscow, has grilled the Russian president and asked where Putin gets his statistics. The farmer...

Judge boasts of his “political” role in Detroit bankruptcy conspiracy

by Shannon Jones Recent remarks by US Bankruptcy Judge Steven Rhodes further confirm the assessment made by the World Socialist Web Site of the anti-democratic...

The US forced bankruptcy of Argentina

Ellen Brown  RINF Alternative News If Argentina were in a high-stakes chess match, the country’s actions this week would be the equivalent of flipping over all...

Financial meltdown threatened by bankruptcy of any Wall Street bank

Gabriel Black The US Federal Deposit Insurance Corporation (FDIC), in conjunction with the Federal Reserve, announced last week that the major banks had failed to...

‘Moral bankruptcy of capitalism’: UK’s top public doctor shames western society over Ebola

Western countries should tackle drugs firms’ “scandalous” reluctance to invest in research into the virus which has already killed over 700 people in West...

For a political struggle by Detroit workers against Orr’s bankruptcy plan

Jerry White The Detroit Water and Sewerage Department is demanding a new labor agreement through 2018 that would strip DWSD workers of whatever job protection...

The Gaza war crimes and the bankruptcy of nationalism

The Palestinian territory of Gaza is the scene of war crimes committed by the state of Israel that defy words. What is to be...

General Motors CEO says company will use bankruptcy to shield itself from lawsuits

Gabriel Black Last Thursday, General Motors (GM) CEO Mary Barra told a Senate hearing that GM would use its 2009 bankruptcy reorganization to shield itself...

Detroit city worker union pushes bankruptcy restructuring plan

The American Federation of State, County and Municipal Employees (AFSCME) union has reached a deal with Detroit’s emergency manager for new labor agreements covering...

Detroit officials agree at DIA press conference: Workers must pay for bankruptcy

Larry Porter and Jerry White A press conference at the Detroit Institute of Arts’ Rivera Court on Monday was called by city officials to...

Bankruptcy court approves new appraisal of Detroit Institute of Arts collection

Thomas Gaist The city of Detroit’s bankruptcy lawyers are involved in renewed efforts to appraise the collection of the Detroit Institute of Arts on behalf...

French neo-fascist victory in European elections exposes bankruptcy of ruling elite

Alex Lantier Sunday’s first-place finish by the neo-fascist National Front (FN) in the European elections in France is a devastating exposure of the bankruptcy of...

Detroit bankruptcy judge considers $85 million payment to global banks

Thomas Gaist at the Federal Court  US Bankruptcy Judge Steven Rhodes heard arguments Thursday over a proposed payment by the city Detroit of $85 million...

Rome at risk of Detroit-style bankruptcy

Marc Wells RINF Alternative News The newly appointed, unelected government of Democrat prime minister Matteo Renzi has approved a decree last Friday, the so-called Salva-Roma ter (Rescue Rome...

The Workers Inquiry into the bankruptcy of Detroit

On Saturday, the Socialist Equality Party in the US is holding a Workers Inquiry into the Bankruptcy of Detroit and the Attack on the DIA...

Exposing the Bankers’ Conspiracy: A Report on the Workers Inquiry into the Bankruptcy of...

RINF Alternative News Public Meetings at Wayne State University and the University of Michigan The Socialist Equality Party (SEP) and International Youth and Students for Social...

Week After West Virginia Chemical Spill, Company Files for Bankruptcy

Andrea Germanos RINF Alternative News Freedom Industries, the company behind the chemical leak last week in West Virginia's Elk River, filed for bankruptcy on Friday, the Charleston...

Video: Workers Inquiry into the Detroit Bankruptcy

A bankruptcy judge has rubber-stamped plans to steal the pensions of Detroit workers and sell off the city's cultural heritage. Now it's time for...

Democrats’ Moral-Political Bankruptcy

An end-of-year article in the New York Times, Jonathan Martin and Michael D. Shear's “Minimum Wage Key to Democrats' 2014 Strategy,” (30 Dec.), enables...

Amid Detroit’s Bankruptcy, A New Vibrancy Emerges

Here’s my article that was just published by the Heartland Institute, a conservative-libertarianish think tank in Chicago. In spite of the same-old, same-old media garbage about Detroit grabbing the usual headlines, it’s interesting to note that so many free-market organizations, online papers, magazines, websites, etc. are interested in all of the good things going on here [...]

Detroit bus drivers speak out on bankruptcy, crisis in city bus system

“What you have now is not a true government,...

The Bankruptcy of the West’s Syrian Policy

The final bankruptcy of American and British policy in Syria came 10 days ago as Islamic Front, a Saudi-backed Sunni jihadi group, overran the...

Detroit firefighters, city workers speak out on bankruptcy decision

Detroit fire firefighters and workers at the city's giant sewerage treatment plant spoke out last week on the December 3 decision by US Judge...

The Detroit “Bankruptcy” Distracts from Attack on Constitution: The Unelected “Czar of Detroit”:

“Through its provisions, Public Act 436 establishes a new form of local government, previously unknown within the United States or the State of Michigan,...

Before Detroit bankruptcy Democratic Party-led task force demanded huge pension cuts

By Thomas Gaist 11 December 2013 Last week's sanctioning of the Detroit bankruptcy by US Judge Steven Rhodes and his ruling that public employee pensions can...

Detroit bankruptcy bankrupts democracy

Protestors in Detroit last month objected to plans to cut pension benefits of city workers and retirees. Detroit elected a new mayor November 5 and...

Detroit bankruptcy ruling triggers calls for pension cuts across the US

By Jerry White6 December 2013 Within days of a federal judge's ruling in support of the Detroit bankruptcy, the devastating implications for the working...

The Detroit bankruptcy ruling

5 December 2013 The Detroit bankruptcy ruling handed down Tuesday is a turning point in class relations in the United States. Approving the largest...

Detroit workers denounce bankruptcy ruling and attack on pensions

By Thomas Gaist4 December 2013 As Judge Rhodes issued his ruling Tuesday morning in the Detroit bankruptcy case, workers outside the courtroom expressed anger...

Detroit eligible for bankruptcy: Judge

Protesters rally outside The Theodore Levin United States Courthouse in Detroit, Oct. 23, 2013. A federal judge has ruled that the city of Detroit is...

Judge OK’s Detroit Bankruptcy, Puts Public Pensions Under the Axe

U.S. Bankruptcy Judge Steven Rhodes ruled Tuesday that the city of Detroit is eligible for bankruptcy after a long court battle between city appointed...

Detroit Bankruptcy: Unions Participate in Bankers’ Conspiracy Against the Working Class

Joseph Kishore Last week, the Michigan branch of the main US union for state and local government employees filed a joint motion in federal bankruptcy...

Detroit: The Conspirators Behind the Largest Municipal Bankruptcy Proceeding in US History

Thomas Gaist and Jerry White Two weeks of testimony in the Detroit bankruptcy case have exposed the premeditated character of the July 18 decision by Emergency Manager...

A who’s who of the conspirators behind the Detroit bankruptcy: Part three

By Thomas Gaist and Jerry White27 November 2013 Two weeks of testimony in the Detroit bankruptcy case have exposed the premeditated character of the...

Manipulation of Economic Figures: Lies used to Justify Detroit Bankruptcy

A report issued Wednesday by the New York City-based liberal think tank Demos is a devastating refutation of the arguments used by Emergency Manager...

New report exposes lies used to justify Detroit bankruptcy

By Thomas Gaist22 November 2013 A report issued Wednesday by the New York City-based liberal think tank Demos is a devastating refutation of the...

The Detroit bankruptcy trial

14 November 2013 For more than two weeks, public attention in Detroit was focused on the courtroom of US Bankruptcy Judge Steven Rhodes, where...

Detroit’s decision to fend off bankruptcy: pay pensions or banks?

Dominic Rushetheguardian.comNovember 13, 2013 This is David Allen's second visit to Engine 40′s fire station on Detroit's west side since February 2012 when a wall...

A Who’s Who of the Conspirators Behind the Detroit Bankruptcy

Two weeks of testimony in the Detroit bankruptcy case have exposed the pre-meditated character of the July 18 decision by Emergency Manager Kevyn Orr...

Another US city mulls bankruptcy

Desert Hot Springs is running out of money by March 31. Desert Hot Springs, a city located 110 miles east of Los Angles, California, warned...

The Detroit Bankruptcy Case

A US federal court heard closing arguments from both sides (November 8) in the Detroit bankruptcy case. Judge Stephen Rhodes is now set to...

Former Michigan state treasurer testifies in Detroit bankruptcy trial

By Thomas Gaist and Jerry White6 November 2013 Former Michigan State Treasurer Andrew Dillon testified as the trial on Detroit's eligibility for bankruptcy continued...

Paralyzed Detroit firefighter to lose health benefits due to city bankruptcy

The city of Detroit is facing a money crunch as its bankruptcy saga develops, but a severely injured local firefighter is seeing the tragedy...

Detroit EM defends bankruptcy decision

Detroit Emergency Manager testifies in court to prove he did not take the job to file for bankruptcy in the first place, and he...

Day two of Detroit bankruptcy hearings: Unions urge liquidation of city assets, including DIA

By Thomas Gaist25 October 2103 Lawyers representing the United Auto Workers (UAW), the American Federation of State, County, and Municipal Employees (AFSCME), Detroit retirees...

Detroit’s arts victim of bankruptcy?

Detroit's world-class art collection may fall victim to the city's insolvency. The city's state-appointed emergency manager Kevyn Orr has said that some of the...

Obama backs Detroit bankruptcy

15 October 2013 ...

Forced into Bankruptcy, the Privatization of Detroit and the Protest Movement against the Banks

Detroit Gathering Internationalizes the Struggle Against the Banks and Austerity People from around the United States and the world express solidarity Grand Circus Park in...

The real causes of the New York City Opera bankruptcy

By Fred Mazelis 7 October 2013 The New York City Opera made it official last Thursday, filing for Chapter 11 bankruptcy protection and setting in motion the...

New York City Opera faces bankruptcy

The New York City Opera, which has struggled financially for the last decade, is expected to file for bankruptcy protection on Oct. 2. The opera...

The Obama administration and the Detroit bankruptcy

30 September 2013 Top Obama administration officials visited Detroit, Michigan Friday to give their benediction to Emergency Manager Kevyn Orr's plans to use bankruptcy proceedings...

Detroit’s Bankruptcy Hastened by “13th Month” Checks Issued to Pensioners

When Kevyn Orr was appointed as Detroit's interim financial manager back in March, he launched an investigation into just how deep the city's financial...

Forces Bankruptcy and Privatization of the City of Detroit: Law Suit in Federal Court

Contradicting what the corporate media editorial boards have promoted in chorus with the multi-millionaire Governor Rick Snyder and his appointed emergency manager Kevyn Orr,...

The unions and the Detroit bankruptcy

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The unions and the Detroit bankruptcy

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Detroit stopped issuing death, birth certificates after bankruptcy

Laura Berman The Detroit News August 29, 2013 Detroit’s funeral directors received this unusual text message last month. “FYI, city of Detroit can’t...

US city gets bankruptcy protection

A US federal judge granted bankruptcy protection to the California city of San Bernardino on Wednesday. The bankruptcy ruling by the US Bankruptcy Court for...

Judge to rule on San Bernardino bankruptcy

The Southern California city of San Bernardino expects to learn on Wednesday if it is eligible for bankruptcy protection or not. The city of...

How The Corrupt Establishment Is Selling Moral Bankruptcy To America

Morality is a highly misunderstood component of human nature. Some people believe they can create moral guidelines from thin air based on their personal biases and prejudices.

New York City runs risk of bankruptcy

As New York City wrestles with rising pension and health care costs, Mayor Michael Bloomberg has warned that the city runs a real risk...

Build Detroit area workers committees to oppose bankruptcy

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Detroit workers outraged by bankruptcy

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The Detroit bankruptcy and the Jones Day law firm

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The Detroit bankruptcy and the drive toward dictatorship

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Detroit firefighters speak out on bankruptcy

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AFL-CIO shrugs off Detroit bankruptcy

The union apparatus will not lift a finger to defend Detroit workers. Republished from: World Socialist Web Site

American Roads files for bankruptcy

American Roads, operator of the Detroit-Windsor tunnel, filed for bankruptcy. A key US company which is the operator of the Detroit-Windsor tunnel has filed...

Detroit firefighters protesting bankruptcy discuss expanding fight against pension and budget cuts

Scores of firefighters demonstrated in front of the federal courthouse in downtown Detroit yesterday to voice their anger over last week’s bankruptcy filing by...

'Stop the Attack' say Detroit Workers as City's Bankruptcy Reviewed

Detroit emergency manager Kevyn Orr speaks at a March 2013 news conference in Detroit next to Michigan Gov. Rick Snyder (Paul Sancya/AP)The fight over...

Detroit Bankruptcy Fight Reaches National Stage

Detroit emergency manager Kevyn Orr speaks at a March 2013 news conference in Detroit next to Michigan Gov. Rick Snyder (Paul Sancya/AP)The fight over...

Leaked emails reveal conspiracy to throw Detroit into bankruptcy

Leaked emails show that as far back as January, there were backroom discussions being held between Detroit and Lansing public officials and corporate law firm Jones Day suggesting that the best course for Detroit would be to send it through Chapter 9 bankruptcy.

On the News With Thom Hartmann: Republicans Are Thrilled That Detroit Has Filed for...

In today's On the News segment: For the GOP - the fall of Detroit is a talking point goldmine; The operator of Japan's crippled Fukushima...

Could Detroit's Bankruptcy Filing Be the First of Many?

Detroit, Michigan’s bankruptcy filing is causing fear that other major U.S. cities face a similar fate as they too are dealing with burdensome underfunded...

A call to action: Oppose the Detroit bankruptcy!

  23 July 2013 ...

Krugman: Detroit’s Bankruptcy “Just One of Those Things”

cato.orgJuly 22, 2013 Paul Krugman in the New York Times on the bankruptcy of my home town: There...

Detroit workers speak on city’s bankruptcy

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Detroit and the Bankruptcy of America’s Social Contract

http://www.truthdig.com/report/item/detroit_and_the_bankruptcy_of_americas_social_contract_20130721/ Posted on Jul 21, 2013 ...

On the News With Thom Hartmann: The City of Detroit Files for Bankruptcy

Thom Hartmann here — on the news... You need to know this. Detroit is broke. On Thursday, the Motor City became the largest in U.S....

The Detroit bankruptcy

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Judge orders halt on Detroit bankruptcy filing

One day after Detroit’s Emergency Manager announced that city administrators were filing a petition to declare bankruptcy, a Michigan court has ordered that it...

Detroit Bankruptcy: No Winners

When Michigan Governor Rick Snyder announced his approval for Detroit’s emergency manager Kevin Orr to file for a municipal Chapter 9 bankruptcy, he admitted...

In Detroit Bankruptcy, It's the Poor Who Lose

A third of all square mileage in Detroit sits empty in a city beset with poverty (Photo: Flickr Creative Commons/Chris Tobins)The Detroit emergency manager's...

Emergency manager throws Detroit into bankruptcy

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Detroit Becomes Largest US City to File for Bankruptcy

Detroit made dubious history on Thursday when it filed for bankruptcy becoming the largest U.S. city ever to do so. Photo: Michigan Municipal...

Detroit to file for federal bankruptcy, marking largest case in US history

The city of Detroit is said to be making the final preparations to file for federal bankruptcy, or Chapter 9 protection, and could submit...

Patriot Coal bankruptcy approved, thousands of retirees to lose health care

Patriot Coal has been granted permission to tear up its collective bargaining agreements with the United Mine Workers (UMW) and escape its obligations to provide health care to its retirees.

Iraq Collapse Shows Bankruptcy of Interventionism

Ron PaulInfowars.comJune 3, 2013 May was Iraq’s deadliest month in nearly five years, with...

‘Detroit teeters on edge of bankruptcy’

File photo of the US city of Detroit, Michigan.Detroitâ„¢s emergency manager has warned that the city runs the risk of going bankrupt, with consequences...

With Gulf Oil Spill Raising BP Bankruptcy Fears, Amazon Shoppers are Helping With Cleanup

With Gulf Oil Spill Raising BP Bankruptcy Fears, Amazon Shoppers are Helping With Cleanup The Gulf oil spill disaster has been raising speculation on BP...

Record Corporate Bailout Reveals the Bankruptcy of American Capitalism

WSWS | The US government takeover of the mortgage finance giants Fannie Mae and Freddie Mac has dealt a shattering blow to the ideology of...

Cambridge Analytica’s Ties to the Fossil Fuel Industry

(Photo: Pixabay)   Revelations continue to emerge about Cambridge Analytica, a political consultancy that has found itself embroiled in a scandal around data privacy and electoral manipulation. Three...

Private Investigations Find America’s Magnitsky Act to Be Based on Frauds

Eric Zuesse We are now getting closer and closer to what, quite possibly, could turn out to be a war between U.S. and Russia —...

A Shiny New Tool to Pad Profits: Stealing

Workplace exploitation is at least as old as the industrial revolution. But rather than using whips to make the assembly lines move ever faster,...

‘I’ve Been to the Mountaintop’: The Final Speech

 The following is the transcribed text of Dr. Martin Luther King Jr.'s final speech, delivered on April 3, 1968 at the Mason Temple in...
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Video: Puerto Rico Debt Crisis: ‘A Great Depression That Doesn’t End’

Journalist, author, and Democracy Now! co-host Juan González says the Puerto Rican debt crisis, now entering a critical bankruptcy phase, results from a legacy...

New York cabbies challenge Uber, Lyft amid driver-suicide spike — RT US News

New York taxi drivers are calling for stricter regulation of ride-sharing services. Their protest comes after...

Deja Vu All Over Again

President’s Lawyers File to Move Stormy Daniels Suit to Federal Court, Out of Public...

In an effort to keep the explosive case confined to private arbitration and out of public view, Donald Trump's attorneys on Friday filed a...

Musk promises 1st ‘up-and-down flight’ for SpaceX Mars rocket next year — RT US...

While admitting that his timelines often turn out to be way too “optimistic,” SpaceX CEO Elon...

Sanders to Host Town Hall on Inequality with Elizabeth Warren, Michael Moore

WASHINGTON - Following the success of the Medicare for All Town Hall in January which drew 1.6 million live viewers, Sen. Bernie Sanders (I-Vt.)...

Why the far-right won in Italy

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Four Stories From Drivers Who Have Struggled With Unpaid Tickets

We've been reporting on how unpaid parking and automated traffic camera tickets can quickly spiral out of control for Chicago's working poor, and particularly for...

Cernovich for Congress? Controversial US blogger fuels rumors of political bid — RT US...

Prominent right-wing blogger Mike Cernovich has spurred speculation that he might run for Congress. The platform...

Lawmakers question military spending — RT US News

As US Secretary of Defense James Mattis made a case for more military funding to counter...

Deliberate Dysfunction? KPFA’s Decade of Financial Mismanagement

The Pacifica Radio Network nearly went into bankruptcy this month.  The immediate cause was a court order to pay the Empire State Building $1,800,000,...

Puerto Rico to privatize crippled power utility PREPA — RT US News

As Puerto Rico continues its recovery from Hurricane Maria’s devastation, the island’s government plans to sell...

Report Details Huge Cost of Childbirth in United States, Unheard of In Most Industrialized...

A report published on Tuesday in the Guardian highlights the exorbitant costs associated with childbirth in the United States—often catching families by surprise and...

Labour must attack Carillion’s ‘crony-capitalist crime,’ says Ex-MP George Galloway — RT UK News

Labour must step up its attack on the “crony-capitalist crime” of construction company Carillion, former...

Escaped teen helps rescue 12 starved siblings, parents charged with torture — RT US...

Some of the 13 victims, aged 2 to 29, were starving, chained and bound in their...

Living as a German Migrant in China

Sears’ Death Spiral Nears Its End

Student Debt Slavery II: Time to Level the Playing Field

This is the second in a two-part article on the debt burden America’s students face. Read Part 1 here. The lending business is heavily stacked...

State Dept rejects US envoy proposal to stop calling West Bank occupied – report...

Published time: 27 Dec, 2017 12:18 Edited time: 28 Dec, 2017 08:21 The State Department has...

A Multitude of Coups: No, You Cannot Take My Rights – I’m Still Using...

Bad sign to be already depressed by Monday, and why not: The Horror-In-Chief denies climate change is a threat to national security, turns out...

VA hires providers with malpractice claims & criminal histories – media investigation — RT...

The US Department of Veterans Affairs has a history of hiring doctors with dodgy pasts and...

Washington Post reporter admits ‘Russiagate’ story a ‘f*cking crap shoot’ in Project Veritas video...

After previously getting employees at CNN and the New York Times to admit there was little...

Warmongering Neocons Have Opened Pandora’s Box

Photo by DAVID HOLT | CC BY 2.0 To some on the geopolitical stage, “stability” is something like a sacred word. Of course, the devil is...

Billionaire Peter Thiel may buy Gawker, the website he helped bankrupt — RT US...

Published time: 23 Nov, 2017 00:50 Edited time: 23 Nov, 2017 15:18 Venture capitalist Peter Thiel...

US govt brushes child abuse under the carpet in Afghanistan – ex-diplomat — RT...

The US government shrugs off child abuse in Afghanistan but is more than happy to push...

Daily Mail columnist says women ‘squawking about sex pests’ should wear a niqab —...

Controversial Mail on Sunday columnist Peter Hitchens has sparked a social media firestorm after comparing...

FBI investigating Whitefish Energy deal canceled by Puerto Rico — RT US News

Published time: 30 Oct, 2017 21:57 The Justice Department is reportedly investigating the $300 million contract...

Workers Struggles: Europe, Middle East & Africa

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Despite Puerto Rico Disaster, Vulture Firms Relentlessly Seeking Billions in Debt Payments

As Puerto Rico continues its struggle to manage $95 billion in Hurricane Maria-related damage stacked atop its $74 billion of pre-existing debt, investigative journalists...

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

People rally outside of Trump Tower in support of Puerto Rico on the day that President Donald Trump visited the island, parts of...

How the elite and greedy corporations are destroying thousands of years of agriculture

The increasingly globalised industrial food system that transnational agribusiness promotes is not feeding the world and is responsible for some of the planet’s most pressing political, social...

Migration of the Tax Donkeys

We’re Failing the US Citizens of Puerto Rico

Hurricane-struck Puerto Rico wants “everything done for them,” says President Trump. Puerto Rico, an island of 3.5 million inhabitants — all of whom are...

We’re Failing the U.S. Citizens of Puerto Rico

Hurricane-struck Puerto Rico wants “everything done for them,” says President Trump. Puerto Rico, an island of 3.5 million inhabitants — all of whom are...

Trump says Puerto Rico’s debt needs to be wiped out

US President Donald Trump said that Puerto Rico’s $74 billion debt would have to be wiped...

Trump's Disgusting, Tone Deaf, Paper-Towel-Throwing Trip to Puerto Rico

Two weeks after Hurricane Maria devastated Puerto Rico, President Donald Trump alarmed critics during his long-awaited trip to the U.S. territory on Tuesday, during...

Puerto Rico asks for federal help to recover from Hurricane Maria

Food, water and medical aid are “top priorities” for Puerto Rico after a Category 4 storm...

Puerto Rican Catastrophe

Trade Panel Ruling Gives Trump Authority to Cripple Nation's Solar Industry

Lawmakers and the solar energy industry spoke out Friday against a ruling by the U.S. International Trade Commission (ITC), which voted in favor of...

1 dead in Puerto Rico as Irma sustains 185mph gusts – reports

One person has reportedly died and 300,000 are without power in Puerto Rico as a result...

Putting an End to the Rent Economy

Photo by Charleston’s TheDigitel | CC BY 2.0 Interview with Vlado Plaga in the German magazine FAIRCONOMY, September 2017. Originally, you didn’t want to become an...

Blackwater Founder Erik Prince Urges Trump to Privatize Afghan War and Install Viceroy to...

The White House is considering an unprecedented plan to privatize the war in Afghanistan at the urging of Erik Prince, founder of the now-defunct...

Liberals Strike Back… Against Single Payer

With the explosive growth of the movement for single payer healthcare, it should not be a surprise to see the Empire Strike Back. In the...

Is Capitalism in Crisis? Latest Trends of a System Run Amok

Capitalism has always been a highly irrational socioeconomic system, but the constant drive for accumulation has especially run amok in the age of high...

Puerto Rico banks on medical marijuana to counter fiscal crisis

Puerto Rico is pinning its future on medical marijuana production to lift it out of its...

New generation nuclear power project scrapped in SC amid soaring costs

Two South Carolina utilities have abandoned a pair of next generation nuclear reactors that would have...

Saudi Arabia: The Tragedy of the “Ships of the Desert”

After his visit to the Kingdom in May, Donald Trump decided to back the Saudi-led blockade of tiny Qatar (2015 population 2.235 million, but...

NYC: Front Line of Income Inequality

New York City faced a crisis four decades ago with a massive electrical failure and fear of crime. Now, it...

Wall Street wants rollback of Enron-era accounting rules

Financial executives have called on lawmakers to scale back securities regulations that they argue stifle the...

1984 at the Grocery Store

Wall Street analysts tell us that Amazon’s $14 billion buyout of Whole Foods isn't only a win-win for both of them, but also for...

Temer Signs Law That Could See Millions of Acres Lost in the Amazon

BRASILIA, Brazil: On 11 July, President Michel Temer signed into law important new legislation (MP 759) that paves the way for land thieves, who...

1984 at the Grocery Store

Wall Street analysts tell us that Amazon’s $14 billion buyout of Whole Foods isn’t only a win-win for both of them, but also for...

As Trumpcare Protests Grow, GOP Senators Duck and Dodge Determined Voters

As the Republican Senate leadership aims to push through a deeply unpopular healthcare bill, GOP senators across the country are spending their July 4th...

Trumpcare Is Not the Health Plan We Need (but Neither Is the ACA)

This week, the Senate’s plan to gut the Affordable Care Act and Medicaid was reviewed by the Congressional Budget Office. The verdict is...

California Scheming: Democrats Betray Single-Payer Again

Photo by Fibonacci Blue | CC BY 2.0 Nothing better illustrates the political bankruptcy of the Democratic Party—for all progressive intents and purposes—than California State...

Demand for US solar power may fall by 2/3rds over company’s plea for industry...

A new study is sending shockwaves throughout the US solar panel industry over fears of trade...

Political lessons of the French elections

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A Grain of Truth: RCEP and the Corporate Hijack of Indian Agriculture

The plight of farmers in India has been well documented. A combination of debt, economic liberalisation, subsidised imports, rising input costs and a shift...

Derangement and Danger on the Potomac

APPIP ERROR:nodata[ (0) NO DATA APPIP ERROR:nodata[ (0) NO DATA The horrific shooting spree on the practice field of the GOP’s congressional baseball team...

Republicans Keep Missing the Point About Gun Violence—Even When They’re the Targets

Gun rights activists for years have fought for the free proliferation of firearms throughout the U.S., perhaps subconsciously imagining they were only arming themselves....

Forbes’ ‘Go Bust’ Prescription For Indian Farmers Is A Death Warrant

By Binu Mathew and Colin Todhunter Background Washington’s long-term plan has been to restructure indigenous agriculture across the world and tie it to an international system...

House Republicans vote to roll back major Wall Street regulations enacted after ‘08 crash

Against a unified Democratic Party in the US House, Republicans have passed a bill to undo...

Puerto Ricans to vote between statehood & independence

Puerto Rico is preparing to vote on becoming the 51st US state, but there are several...

Bank Failures

Grant’s Almost Daily reports that despite the seemingly calm economic winds, “Banco Popular has managed to run the ship aground. In order to shore...

High noon: Shadow of solar panels trade war looms over WTO

Published time: 30 May, 2017 21:01 Edited time: 31 May, 2017 11:21 The US has informed...

No.1 US automaker GM to cut jobs at Michigan plant

General Motors plans to cut more jobs, this time at a Warren, Michigan plant. Estimates are...

Revealed! Big money bankrolling Tory campaign linked to claims of fraud, tax dodging

Theresa May’s Conservative Party has scooped almost three times more in cash donations than Jeremy...

Is Charter School Fraud the Next Enron?

In 2001, Texas-based energy giant Enron shocked the world by declaring bankruptcy. Thousands of employees lost their jobs, and investors lost billions.  As a scholar who studies the...

‘Puerto Rico Is Emblematic of the Excesses of These Financial Systems’

Janine Jackson interviewed Ed Morales about Puerto Rico’s recent filing for bankruptcy amidst its debt crisis for the May 12, 2017 episode of CounterSpin. This...

Even With No Love from DNC, Sanders-Backed Montana Longshot Surges

Rob Quist, the once-longshot, banjo-strumming populist running for Montana's empty U.S. House seat, is giving Republicans a scare. On Thursday, Quist's campaign announced a startling...

To Regain People's Trust, the Democratic Party Must Support Single-Payer

Medical bills are a leading causes of bankruptcy, even for those who carry insurance. (Photo: Pixabay) $300 billion over 10 years. That's how much the...

Getting Out of Our Coal Hole

When you’re in a hole, it’s usually best to stop digging. But when President Trump told supporters at his 100th day rally in Pennsylvania...

Analysis Uncovers “Nearly $2 Billion in Errors” in Peabody’s Misleading Study About the Future...

WASHINGTON - A detailed analysis of a presentation made by Peabody Energy at an April 7 meeting of the Arizona Corporation Commission highlights major...

Trump’s Amateur Hour on Israel

Despite President Trump’s professed optimism, prospects for Israeli-Palestinian peace remain dismal, partly because Trump shows no sign of deviating from...

Is Your State in Serious Financial Trouble?

By Joshua Krause Ready Nutrition Maybe you’re looking for a fresh start. Or perhaps you’re looking to find a different job, or you’re trying to get...

Airline De-Regulation

The American airline industry was de-regulated in 1978 under President Carter, not Reagan. This forced airlines to change. From this time on, they had to...

From Syria to Monsanto: A Moribund System of Deceit and Destruction

Today, as the dominant global power, the US rolls out its brand of unfettered capitalism across the world. US citizens constitute just five percent...

Talking About My Generation–So We Don’t Have to Talk About the Rich

The main economic story of the last four decades is the massive upward redistribution of income that has taken place. The top 1 percent’s...

With Epic GOP Failure, Dems Urged to Go Bold with Medicare-for-All

With the Republican attempt to replace the Affordable Care Act (ACA) going down in flames Friday as Americans rallied to defend their right to...

After Speaker Ryan Pulls GOP ‘Slash and Burn’ Health Bill, Doctors Group Urges Passage...

WASHINGTON - Physicians for a National Health Program (PNHP), a nonprofit research and education organization of 20,000 physicians, medical students and health professionals, responded...

Senate confirms David Friedman as US ambassador to Israel

Published time: 24 Mar, 2017 01:48 In a narrow vote Thursday, the US Senate confirmed David Friedman,...

Trumpcare Is Very Destructive to Both Medicare and Medicaid

Janine Jackson: "Far from seamless" was how the Washington Post described the debut of House Republicans' much vaunted -- by them -- replacement for...

‘Trumpcare Is Very Destructive to Both Medicare and Medicaid’ – CounterSpin interview with Nancy...

Janine Jackson interviewed Nancy Altman about Trumpcare for the March 10, 2017, episode of CounterSpin. This is a lightly edited transcript. Nancy Altman: “Paul Ryan,...

US Ambassador to Israel: “Great Advantage” to Netanyahu

David Friedman is known for his support for the most extreme elements in Israel’s settler movement The choice of US ambassador to Israel has never...

RadioShack closing 187 more stores

  ...

Hey, Paul Ryan

The Republicans have a problem. Healthcare prices are so swollen by government imposed monopolies that most people cannot possibly afford to pay the crazy...

Sweat Shops, GMOs and Neoliberal Fundamentalism: The Agroecological Alternative to Global Capitalism

Much of the argument in favour of GM agriculture involves little more than misrepresentations and unscrupulous attacks on those who express concerns about the technology and its impacts....

Murray Energy Bucks Coal Mining Trend With Record Giving in 2016

President Donald Trump wasted little time attending to one of his constituencies: Less than a month after taking office, and surrounded by applauding coal...

Trump’s One-State Openness on Israel

The ugly reality in Israel/Palestine is that the Zionist leaders are engaging in a slow-walk ethnic cleansing of Palestinians, a...

5 times the mainstream media blatantly lied about President Trump

President Trump has been on the receiving end of a fierce campaign led by major media outlets to destroy his image. The mainstream media...

The new President’s questionable past

The impossible has now happened and complete outsider Donald J Trump is now in charge of one of the most powerful countries in the...

Side-By-Side: Obama's 2008 Speech on Race vs. Trump's 2017 Black History Month Remarks

We the people, in order to form a more perfect union... Two hundred and twenty-one years ago, in a hall that still stands across the...
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Video: “Nobody Speak”: New Documentary Probes Billionaire Peter Thiel’s Destruction of News Outlet Gawker

http://democracynow.org - Last year, the digital media outlet Gawker declared bankruptcy and put itself up for sale after it was ordered to pay $140...

Common Sense

“Without the pen of the author of Common Sense, the sword of Washington would have been raised in vain.” – John Adams Thomas Paine was...

New Student Lawsuit Details ITT Tech Scam

Former students from across the country Tuesday filed a blockbuster lawsuit against the collapsed for-profit college giant ITT Tech. The students' complaint, seeking to intervene in...

‘Make in USA or pay big border tax’: Trump blasts GM over cars made...

President-elect Donald Trump blasted General Motors Company for building some of its cars in Mexico, and...

Chicago Shootings and Deaths

Chicago shootings and deaths are in the news once again, thanks to the horrendous numbers in this regard racked up by the Second City....

The Reason the Fed is Raising Rates, and Why It Won’t Work 

Photo by DonkeyHotey | CC BY 2.0 Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance...

The Italian Banking Crisis: No Free Lunch — or Is There?

On December 4, 2016, Italian voters rejected a referendum to amend their constitution to give the government more power, and the Italian prime minister...

How Trump Kills the ‘Two-State Solution’

President-elect Trump’s choice of a backer of Israeli settlements to be ambassador to Israel may be the final death-blow to...

The Italian Banking Crisis

It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone. Handwringing officials say “there is...

The Best Month To Buy a Car

I have been talking on my radio show about December being a great time to buy a new car. In spite of that, I...
video

Video: Andrew Bacevich: Trump’s “Israel First” Policy Will Likely Lead to More Violence in...

http://democracynow.org - Donald Trump has tapped the far-right-wing bankruptcy lawyer David Friedman to be the U.S. ambassador to Israel. Many are calling ... Via Youtube

Trump names David Friedman as US ambassador to Israel

President-elect Donald Trump will nominate David Friedman, a prominent attorney who advised Trump on Israel during...

The Cost of Empire

With all these generals being called out of retirement to serve as Donald Trump’s “civilian” advisers, whether it’s General James “Mad Dog” Mattis as...

Sorry, I Can't Give Trump a Chance

As Donald Trump plans his transition into the White House, some have called for "unity." Let's "come together," they say. Let's "give him a...

Sorry, I Can’t Give Trump a Chance

As Donald Trump plans his transition into the White House, some have called for “unity.” Let’s “come together,” they say. Let’s “give him a...

Cancellation of RT UK’s bank account ‘crude British state propaganda’ – Galloway (VIDEO)

Former MP George Galloway has waded into the row over the cancellation of RT UK’s bank accounts by NatWest, dubbing the move “crude British...

‘We have a problem’: Podesta emails reveal Clinton staffer fears over Wall St speeches

WikiLeaks’ latest release of emails from Hillary Clinton’s campaign chairman John Podesta has given some insight...

Do You Use Magic Soap?

You’ve undoubtedly used Dr. Bronner’s, the top-selling organic liquid and bar soap brand in North America. But how much do you know about the...

WikiLeaks: 10 Years of Pushing the Boundaries of Free Speech

“To me, freedom of speech is something that represents the very dignity of what a human being is… that’s what marks us...

On the Edge of a Black Hole

The world economy is now at its most dangerous point in history. In virtually every major country or region, there are problems of a...

Trump’s Missed Debate Opportunities

Donald Trump missed chances in the first debate, including failure to exploit a U.S. intelligence report that cited U.S. support...

‘Favors’ to Blacks

Back in the 1960s, as large numbers of black students were entering a certain Ivy League university for the first time, someone asked a...

A System Of Food Production For Human Need, Not Corporate Greed

Colin Todhunter There has been an adverse trend in the food and agriculture sector in recent times with the control of seeds and chemical inputs...

War as a Business Opportunity

A good friend passed along an article at Forbes from a month ago with the pregnant title, “U.S. Army Fears Major War Likely Within...

Protection from Looting Government

The autumn of 2016 has for some time looked like a period when dark clouds will move in over the world economy. Therefore, it...

Rebellion in the Suites: Tax Collectors and Businesspeople

Large-scale political and economic challenges are confronting the US multi-national corporate elite. Apple, Google, Facebook, Microsoft, Pfizer and scores of other multinational tax...

How Jim Rogers Is Preparing

One week after RealVision brought us the latest Jeff Gundlach interview, in which the DoubleLine bond king explained why he is now “100% net short”,...

The Affordable Care Act: A Litmus Test for American Capitalism?

There is a pressing issue in American health care that warrants at least a modicum of airtime from radio talk show pundits—a softheaded lot...

Today’s gossip, tomorrow’s memories: 10 things we will (and won’t) miss about Gawker

Gawker will be no more. The blog network under the name revolutionized digital journalism and engaged...

Detroit to target banks, businesses with 600 lawsuits over $12mn+ in unpaid taxes

Detroit is threatening banks and businesses with nearly 600 lawsuits over more than $12 million in...

"When You Dial 911 and Wall Street Answers": How Private Equity Profits Off Our...

When you woke up this morning, chances are your morning routine was touched in some way by a private equity firm. From...

Monsanto in India: Meet the New Boss – Same as the Old Boss?

In capitalism, the state’s primary role is to secure the interests of private capital. The institutions of globalised capitalism - from the World Bank,...

Revenge: Activists unleash 1,000s of locusts, cockroaches on Byron burger branches for migrant sting

Radical activists released thousands of cockroaches, crickets and locusts at two outlets of Byron Hamburgers,...

Robert Reich’s Fraud

Eric Zuesse Robert Reich, the proud friend of Hillary Clinton since she was 19 years old, says, "there has never been any finding that Hillary...

How New Jersey Has Embraced "State-Sanctioned Loan-Sharking" to Students

New Jersey has the country's largest state-based student loan program. It's also incredibly unforgiving. For this ProPublica Podcast, I talked with our...

Jesus forgives all – except for student debt

A woman hoping to devote her life to the Catholic Church is facing an unexpected barrier:...

Class action lawsuit seeks to curtail aggressive student debt collectors

Students of Everest College were found to have been so misled by the school that the...

DOJ Overruled Recommendation to Indict Money Launderer HSBC Over Too-Big-to-Fail Worries

The House of Representatives released a bombshell Tuesday out of its three-year investigation as to why the UK-based bank HSBC got off...

Bankrupt Coal Miner Peabody Energy Paid Climate Denialist to Write Greenhouse Gas Reports

A huge shoveling machine scoops coal at Peabody Energy's North Antelope Rochelle Mine in Campbell County, Wyoming, in 2013. (Photo: Eduardo Porter...

It’s Not the Brexit, Stupid

Just over a week ago the world was coming unglued, as enough British citizens grew a pair and spit in the face of the...

In Clinton Case, Obama Administration Nullifies 6 Criminal Laws

Eric Zuesse When the Obama Administration, on July 5th, ruled that in regard to Hillary Clinton’s privatized email system while she was Secretary of State,...

Hillary Clinton’s Email Operation Violated At Least Six Criminal Laws

Eric Zuesse This is not an exclusive list, nor does it relate to charges that might possibly be made against Ms. Clinton on grounds other...

Occupy Wilmington Not Wall Street

James Li has been on the run for eight years. His crime? Forging fake purchase orders to inflate his company’s sales and dumping 93...

Whom do we blame for our troubles?

A natural progression has arisen 40 years after billionaires laid plans for a cultural revolution, in large part by using fake organizations of philanthropy...

Lament for Humanity: A 50 Year Reflection

Robert J. Burrowes Deeply affected by the death of my two uncles in World War II, on 1 July 1966, the 24th anniversary of the...

Lewandowski Hire Makes Journalists Choose Between Defending Their Profession and Embracing Its Demise

Former Trump campaign manager Corey Lewandowski depicted in the Washington Post, which reported that his hiring by CNN “could be very valuable” to the...

Treasury Secretary Warns Senate About Looming Puerto Rico Default

People play on the beach in Puerto Rico. If the Senate passes a version of a debt restructuring bill that varies from...

Neoliberalism and The Globalization of War. America’s Hegemonic Project 

The world is at a dangerous crossroads.  The United States and its allies have launched a military adventure which threatens the future of humanity....

Hate, Terror, and Collectivism Culminate in Orlando

The massacre in Orlando has the usual political narratives all jumbled up. It was gun violence against gays. Therefore, say Hillary Clinton supporters, it validates calls...

North Sea oil workers must wage unified struggle

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Steve James Sharp class tensions are emerging in both the British and...

Congress, Obama call for a Financial Control Board for Puerto Rico

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Rafael Azul On June 11, US President Barack Obama devoted his weekly...

How Corrupt America Is

Eric Zuesse, originally posted at strategic-culture.org The best reporting on the depth of America’s dictatorship is probably that being done by Atlanta Georgia’s NBC-affiliated, Gannett-owned,...

‘Grimy business’: John Oliver makes TV history, forgives $15m in medical debt he purchased

In a scathing attack on the lack of regulations in the debt-collection industry, HBO comedy host John Oliver announced that a debt collection agency...

Will Japan Nuke Pearl Harbor?

I was struck by something Donald Trump said on CNN this morning: “Until I got involved in this most people ...

Media Trumpwash Clinton’s Reckless Foreign Record

Hillary Clinton’s support for regime change in countries like Iraq, Libya, Syria and Honduras is seldom recalled when comparing her foreign policy to Donald...

Corporate Chicanery

Recently, you said, “I will fight my heart out to stop Trump.” We know you have a big heart.   A very big heart.   Why else...

Bernie comes to Vallejo

Vallejo is geographically close but economically far from more affluent San Francisco Bay Area cities to the south.  In 2008 the city of Vallejo...

Hillary and the Corporate Elite

“Mainstream” U.S. media is struck by the “strange bedfellows” phenomenon whereby a number of right wing foreign policy neoconservatives and top business elites –...

Trump, Debt, and Money Printing

During a lengthy interview on CNBC the week before last, Donald Trump, fresh from becoming the presumptive Republican nominee, came as close as any major...

Why Sanders Continues Campaigning

Eric Zuesse There are two realistic scenarios for Bernie Sanders to win the U.S. Presidency. One depends upon his receiving the Democratic Party’s nomination. The other...

Baghdad on military lockdown over fear of protests

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Bill Van Auken Security forces erected heavy concrete blast walls and strung...

The Old Oil Order Is Collapsing

(Photo: United Nations Information Centre / Flickr) Sunday, April 17th was the designated moment. The world’s leading oil producers were expected to bring fresh discipline...

Puerto Rico will default on $370-million debt payments Monday

Puerto Rico’s governor declared a moratorium on a $370-million payback due on Monday. This is the largest default in a series of other bankruptcies,...

Michael Moore to Obama: Flint will riot ‘soon’ if you don’t #ArrestGovSnyder

Filmmaker Michael Moore has warned President Obama that riots will begin in the troubled Michigan city...

Debacle at Doha: The Collapse of the Old Oil Order

(Photo: Blake Thornberry) Sunday, April 17th was the designated moment. The world's leading oil producers were expected to bring fresh discipline to the...

Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically

Michael Snyder (RINF) - Corporate revenues in the United States have been falling for quite some time, but now some of the biggest companies in...

Three Reasons Why "Too-Big-to-Fail" Banks Need to Be Broken Up

President Barack Obama with Sen. Christopher Dodd (D-Conn.), center, and Rep. Barney Frank (D-Mass.), waving, after signing the Dodd-Frank Wall Street Reform...

The 21st Century Greater Depression

I became interested in the question of how an organization whose business plan is theft can go bankrupt during the Enron debacle. I was...

We Can’t Save the Economy Unless We Fix Our Debt Addiction

Our economy has increasingly been financialized, and the result is a sluggish economy and stagnant wages. We need to decide whether to stop the...

Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again

Michael Snyder (RINF) - The Dow closed above 18,000 on Monday for the first time since July.  Isn’t that great news?  I truly wish that...

Hillary Clinton Agrees with the Citizens United Decision

Eric Zuesse On April 14th, Glenn Greenwald, a brilliant U.S. Constitutional lawyer, documented that Hillary Clinton actually agrees with the Citizens United decision by the five...

‘Not credible’: Big 5 US banks lack disaster-readiness, violate Dodd-Frank Act, regulators say

Wary of a repeat of taxpayer bailouts for “too big to fail” banks, the Federal Reserve...

‘No legal basis’: Michigan governor asks Flint water lawsuit targeting him be dismissed

Michigan Gov. Rick Snyder is seeking have a class action lawsuit filed against him by Flint...

Two Ways Hillary Clinton’s Email Operation Was Obviously Criminal

Eric Zuesse, originally posted at strategic-culture.org As I noted on March 10th, Hillary Clinton, and her aides who cooperated with her privatization of information from...

Is the Next Taxpayer Bailout the Coal Industry?

A coal mine in Gilette, Wyoming. (Photo: Greg Goebel; Edited: LW / TO) Eight years after we bailed the big banks to the...

Trump sparks NATO debate: ‘Obsolete’ or ‘tripwire that could lead to World War III’?

Republican presidential candidate Donald Trump slammed NATO on the campaign trail this week, saying he can...

These Corporations Have Pillaged the Land and Robbed the People

(Photo: Parolan Harahap; Edited: LW / TO) Join the movement for independent media -- no ads, no sponsored content, just uncensored news and...

Rumbled? Tories ‘broke the law’ to win 2015 general election

Dozens of Conservative Party MPs broke the law during local campaigns to win seats in...

Corporate Debt Defaults Explode To Catastrophic Levels Not Seen Since The Last Financial Crisis

Michael Snyder (RINF) - If a new financial crisis had already begun, we would expect to see corporate debt defaults skyrocket, and that is precisely...

New study says entire regions of US will remain in slump until the 2020s

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Jerry White A new study by a University of California-Berkeley economist says...

NYT Promotes Study by Private Pension Company That Says Not to Trust Public Pensions

“Bankruptcy,” declares a New York Times photo. (photo: Joshua Lott/Reuters) Reputable newspapers try to avoid the self-serving studies that industry groups put out to try...

UAW discussing lower pay rate at Lear in Detroit

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Shannon Jones Officials of the United Auto Workers have confirmed that the...

Caught in the Corporate Feeding Frenzy

The “human resources” departments of huge corporations are known for issuing helpful bulletins to employees, such as this old joke: “The beatings will continue...

Kerry’s Secret War Plan for Syria

Secretary of State Kerry urged President Obama to launch secret missile attacks inside Syria without admitting the U.S. role, a...

Hillary Clinton’s Destruction of Emails Was a Federal Crime

Eric Zuesse However, our laws have been written so as to protect government officials, and corporate executives, if and when they are prosecuted for it....

Detroit Public Schools emergency managers cash in

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Marissa Ross and Nancy Hanover With Detroit Public Schools (DPS) facing insolvency...

Obama’s Former Doctor Who Stood Firmly for ‘Medicare For All’ Dies at 92

(Common Dreams) -Dr. Quentin Young, the Chicago-based physician who cared for Martin Luther King, Jr., Studs Terkel, and President Barack Obama and was described...

Bank for International Settlements warns of build-up of global debt

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Nick Beams The governing council of the European Central Bank (ECB) will...

Behind the Facade: America, The Bankrupt Hegemon

Fantasy and fairy tales can go only so far when it comes to the true condition of anything or anyone. Sooner or later the...

US employment report: Payrolls rise, wages fall

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. Barry Grey President Barack Obama seized on the February employment report, released...

For an active boycott of the Brexit referendum!

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. For an active boycott of the Brexit referendum! Statement of the Socialist...

Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores

Michael Snyder Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“.  Well, if the economy is...

Scalia’s Ghost Can’t Save Oil, Gas, and Coal

Bleak news for fossil fuels is piling up higher than an icy Washington snowbank in the capital’s most precipitation-challenged state. Peabody Energy, the nation’s biggest coal company,...

Can the New Left Govern Europe?

Irish water protesters rally carry banners against the country’s austerity regime. (Photo: Brian Fitzpatrick) Over the past year, left and center-left parties have taken control...

E-mails show Michigan state officials knew of Legionnaires’ outbreak in Flint in early 2015

James Brewer More e-mails have been made public showing that a year ago health officials were worried that the spike in cases of Legionnaires’ disease...

Natural Gas Becomes a Fracking Mess

Until late last year, Laura Gideon’s family lived in Porter Ranch on the outskirts of Los Angeles. “We didn’t ever want to leave,” Gideon...

Bernie’s Call to Rein in Wall Street, Artfully Clear

Donna Smith At the heart of the matter is Bernie calling out the way Wall Street money has corrupted our democracy and perhaps most especially...

Italy hit by banking crisis

Marianne Arens Sharp turbulence on the Milan stock exchange in January focused attention on Italy’s deep economic and financial crisis. At the same time, the...

Drowning the Oil Industry

With oil cheaper than bottled water, the average American driver saved $540 at the pump last year. But oil prices are also battering Alaska’s economy,...

‘Single Payer Saves Money by Saying No to the Insurance Industry’

Janine Jackson interviewed Steffie Woolhandler on single payer for the January 29, 2016, CounterSpin. This is a lightly edited transcript.   Steffie Woolhandler (photo: Rick Friedman) ...

2016 Market Meltdown: We Have Never Seen A Year Start Quite Like This…

Michael Snyder (RINF) - We are about three weeks into 2016, and we are witnessing things that we...

Digging Up a Mountain of Debt

For the first time in more than 30 years, the federal government has decided to hold off on authorizing new leases for coal mining on federal...

The State of Our Economy: What It Needs vs. What Washington Is Willing to...

The economy is likely to continue to grow at a weak pace in 2016, just as it did in 2015 and 2014. (Photo: US...

Hundreds of teachers’ fight to save public education

Jerry White The World Socialist Web Site salutes the fight by Detroit teachers against the deplorable conditions in their schools and urges workers throughout the...

The Financial Crisis Of 2016 Rolls On — China, Oil, Copper And Junk Bonds...

Michael Snyder (RINF) - Never before have we seen a year start like this. On Monday, Chinese stocks...
bank bail-ins implemented in UK

UK Banking Industry — Most Unstable in G7 Implements Depositor Bail-in Scheme

Back in September we published an article “Grand Theft Auto — UK and EU Bank Depositor Bail-In Regime Implemented” in which we described how...

The Trouble with For-Profit Healthcare: Even the Insured Face Mountains of Debt

New data outlines 'wide range of consequences and sacrifices' made by insured Americans who face burdensome medical bills by Deirdre Fulton For one in five Americans, just...

Financial Armageddon Approaches: U.S. Banks Have 247 Trillion Dollars Of Exposure To Derivatives

Michael Snyder (RINF) - Did you know that there are 5 “too big to fail” banks in the United States that each have exposure to...

Ruthless cuts in West Virginia public employee health care

By Clement Daly The West Virginia Public Employees Insurance Agency (PEIA), which provides health insurance coverage for more than 200,000 public employees and retirees throughout the...
video

Video: Juan González: GOP to Puerto Rico – “Drop Dead”

[youtube https://www.youtube.com/watch?v=3qvHvcFrK3c&w=580&h=385] On Tuesday, top Republicans in the Senate rejected a move by congressional Democrats to extend bankruptcy protection laws to Puerto Rico. This means...

Don’t Be a Fossil-Foolish Investor

Investors who choose to steer clear of oil, gas, and coal are protecting their portfolios in the short term and the long run. Who has...

After Paris attacks, neo-fascists surge in polls for French regional elections

By Kumaran Ira Since the November 13 terror attack in Paris, the neo-fascist National Front (FN) has emerged as the main beneficiary of the law-and-order hysteria...

Portugal: The Left Takes Charge

Portugal is the victim of the great 2008 international banking crisis, which saw speculators drove up the price of borrowing beyond what the country’s...

Kraft Heinz and Alcoa among companies cutting hundreds of jobs in upstate New York

By Steve Filips Last week Kraft Heinz announced plans to close seven plants nationwide and the layoff of an additional 2,600 workers over the next 12...

UAW using economic blackmail in effort to ram through sellout deal

By Jerry White With thousands of General Motors workers voting on a tentative agreement signed by the United Auto Workers for a new four-year labor deal,...

A crisis of global dimensions

In a Perspective column published at the beginning of 2015, the World Socialist Web Site commented on the frequency of crises convulsing the global...

Meet the Press on Clinton: Focusing on Image, Distracting From Issues

Meet the Press suggested that Hillary Clinton’s main political problem is that she isn’t Bill Clinton. On Meet the Press this week (9/20/15), host Chuck...

Greece Implodes

Greece became the epicenter of Europe’s debt crisis after Wall Street imploded in 2008. With global financial markets still reeling, Greece announced in October...

UK Labour Party steps up purge of suspected Corbyn supporters

By Chris Marsden Jeremy Corbyn is standing for Labour leader based upon the claim that the party can be won back from the right-wing course it...

Sanding Down the Rough Edges of Capitalism Is Not Enough

The question now is whether we can peacefully change the system that has been rigged in favor of those who handsomely benefit from it....

Chicago Public Schools announces hundreds of teacher layoffs, spending and pension cuts

By Kristina Betinis Chicago Public Schools (CPS) released its 2015-2016 budget Monday, including $200 million in spending cuts and 479 additional teacher layoffs. In June, the...

‘Puerto Rico Is an Artificial Economy’ – CounterSpin interview with Ed Morales on Puerto...

Janine Jackson interviewed author Ed Morales about Puerto Rico’s debt crisis  for the July 31 CounterSpin. This is a lightly edited transcript. Ed Morales: “The creation of...

Revolting World

There is much that is revolting about the current world and Andre Vltchek, Christopher Black and Peter Koenig are well placed to document it,...

GM officials unlikely to face criminal charges for coverup of deadly defects

By Shannon Jones Despite overwhelming evidence of a cover-up, General Motors officials are unlikely to face criminal charges in relation to an ignition defect tied to...

Mining job cuts: The destructive anarchy of the capitalist market

Nick Beams Friday’s announcement by two major global mining companies that they plan to slash tens of thousands of jobs points to the gathering crisis...

They’re All Government Motors Now

GM gets ribbed a lot (and rightly so) for being “government motors” … having accepted (no, demanded) enormous sums of taxpayer money in order to avoid...

Pew report: US unfunded public pension liabilities hit $1 trillion

By George Gallanis State and local public pension funds were underfunded by more than $1 trillion in 2013, a $54 billion increase from the year before,...

Why The Puerto Rico Debt Crisis Is Such A Huge Threat To The U.S....

Michael Snyder (RINF) - The debt crisis in Puerto Rico could potentially cost financial institutions in the United States tens of billions of dollars in...

The historical background of California’s water crisis

By Marc Wells and Evan Blake California’s ongoing drought has set new records for the lowest annual precipitation levels, while 2014 brought the highest calendar-year temperature...

The corporate media’s destructive agenda

by Stephen Lendman (RINF) - Britain, America and other Western nations disgracefully consider real news, information and analysis Russian media provide propaganda - in other...

‘Secret’ History of the Greek Crisis

The past may be prologue, but it is first necessary to know what that past is, a growing problem in a modern age when so...

Greek government approves brutal austerity measures in proposal to EU

Via WSWS. This piece was reprinted by RINF Alternative News with permission or license. By Alex Lantier Greece’s Syriza-led government agreed to a massive new €13 billion...

Greece: No to Austerity, Yes to Democracy

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The owners of Hobby Lobby, the plaintiffs in the case, were always free to practice their religion. The Court bestowed religious freedom on their corporation as well – a leap of logic as absurd as giving corporations freedom of speech. Corporations aren’t people.

The deeper problem is the Court’s obliviousness to the growing imbalance of economic power between corporations and real people. By giving companies the right not offer employees contraceptive services otherwise mandated by law, the Court ignored the rights of employees to receive those services.

(Justice Alito’s suggestion that those services could be provided directly by the federal government is as politically likely as is a single-payer federal health-insurance plan – which presumably would be necessary to supply such contraceptives or any other Obamacare service corporations refuse to offer on religious grounds.)

The same imbalance of power rendered the Court’s decision in “Citizens United,” granting corporations freedom of speech, so perverse. In reality, corporate free speech drowns out the free speech of ordinary people who can’t flood the halls of Congress with campaign contributions.

Freedom is the one value conservatives place above all others, yet time and again their ideal of freedom ignores the growing imbalance of power in our society that’s eroding the freedoms of most people.

This isn’t new. In the early 1930s, the Court trumped New Deal legislation with “freedom of contract” – the presumed right of people to make whatever deals they want unencumbered by federal regulations. Eventually (perhaps influenced by FDR’s threat to expand the Court and pack it with his own appointees) the Court relented. 

But the conservative mind has never incorporated economic power into its understanding of freedom. Conservatives still champion “free enterprise” and equate the so-called “free market” with liberty. To them, government “intrusions” on the market threaten freedom.

Yet the “free market” doesn’t exist in nature. There, only the fittest and strongest survive. The “free market” is the product of laws and rules continuously emanating from legislatures, executive departments, and courts. Government doesn’t “intrude” on the free market. It defines and organizes (and often reorganizes) it.

Here’s where the reality of power comes in. It’s one thing if these laws and rules are shaped democratically, reflecting the values and preferences of most people.

But anyone with half a brain can see the growing concentration of income and wealth at the top of America has concentrated political power there as well — generating laws and rules that tilt the playing field ever further in the direction of corporations and the wealthy.

Antitrust laws designed to constrain monopolies have been eviscerated. Competition among Internet service providers, for example, is rapidly disappearing – resulting in higher prices than in any other rich country. Companies are being allowed to prolong patents and trademarks, keeping drug prices higher here than in Canada or Europe.

Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all.

The value of real property (the major asset of the middle class) is taxed annually, but not the value of stocks and bonds (where the rich park most of their wealth).

Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.

The minimum wage is steadily losing value, while CEO pay is in the stratosphere. Under U.S. law, shareholders have only an “advisory” role in determining what CEOs rake in.  

Public goods paid for with tax revenues (public schools, affordable public universities, parks, roads, bridges) are deteriorating, while private goods paid for individually (private schools and colleges, health clubs, security guards, gated community amenities) are burgeoning. 

I could go on, but you get the point. The so-called “free market” is not expanding options and opportunities for most people. It’s extending them for the few who are wealthy enough to influence how the market is organized.

Most of us remain “free” in limited sense of not being coerced into purchasing, say, the medications or Internet services that are unnecessarily expensive, or contraceptives they can no longer get under their employer’s insurance plan. We can just go without.

We’re likewise free not to be burdened with years of student debt payments; no one is required to attend college. And we’re free not to rent a place in a neighborhood with lousy schools and pot-holed roads; if we can’t afford better, we’re free to work harder so we can. 

But this is a very parched view of freedom. 

Conservatives who claim to be on the side of freedom while ignoring the growing imbalance of economic and political power in America are not in fact on the side of freedom. They are on the side of those with the power. 

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Sham Ukrainian Presidential Election

Sham Ukrainian Presidential Election

by Stephen Lendman

Presidential aspirants were all putschist-approved. They're fascists. Ballot choices excluded democrats.

Several legitimate candidates dropped out. They were threatened. They feared for their lives.

Ukrainians chose a president, Kiev mayor, Kiev Council deputies and six regional center mayors - in Mykolaiv, Odessa, Sumy, Kherson, Cherkasy and Chernivtsi.

If no presidential aspirant wins a majority, second round voting is scheduled for June 15.

About 35 million Ukrainians were eligible to vote. So were diaspora ones. They number around 470,000. Scores of polling stations opened in 75 countries. 

On election eve, coup-appointed prime minister Arseniy Yatsenyuk addressed Ukrainians. He pressured them to vote. 

"Tomorrow we will prove to the whole world, and first of all to ourselves, that it is not possible to intimidate us, that we are going to decide ourselves how to rebuild our home and how to work in it," he said.

"But we have fought for these elections. We are defending our land, restoring our military, rebuilding the destroyed industry, destroying the schemes that had been washing billions out of the country." 

"We are learning to control the power and laying the ground for further development…By our ballots we elect and thus win."

He addressed Donetsk and Lugansk freedom fighters, adding:

"I want to assure you. Not much time is left for the bandits, terrorizing your regions."

A previous article said expect billionaire oligarch Petro Proroshenko to win.

Expect electoral rubber-stamping anointment. So-called polls showed his support ranged from 33 - 44%. Vote tallies show he's heading for a first round victory.

It doesn't matter. Fascism won on Sunday. Hardline rule prevails. Police state authority reflects it.

Ukrainians had no say. Sunday's election masqueraded as legitimate. Farcical sham defined it.

Expected winner Poroshenko will serve five years. Presidential elections will next be held in March 2019.

Coop-appointed central election committee members approved 2,784 fascist-supporting observers. They include about 100 US ones.

Former Secretary of State/unindicted war criminal Madeleine Albright came. So did numerous Senate and House members. 

They support fascist illegitimacy. They endorsed sham elections. They mock democratic ones. Monied interests control US ones.

Russian observers didn't come. They were excluded. They weren't wanted. They weren't invited. For the first time in modern Ukraine history.

RT International listed 10 facts about Sunday's presidential election. It called doing so examining the campaign's dark "underbelly."

(1) Coup-appointed putschists significantly reduced presidential powers. Poroshenko may be more figurehead than leader.

(2) Former illegitimate Orange Revolution prime minister/convicted felon Yulia Tymoshenko threatened new street protests if Poroshenko wins.

(3) Twenty-three putschist-approved candidates competed. Seven others dropped out. Some after threats on their life. Vitaly Klitschko to run for Kiev's mayoralty.

(4) Two initial presidential aspirants were attacked. Oleg Tsarev was brutally beaten. He dropped out of contention. He was threatened. He feared for his life.

(5) Ukraine's war without mercy continues. Coup-appointed president Aleksadr Turchinov ludicrously claims it's to "bring peace and serenity." 

Election day was one of the bloodiest so far. Expect worse going forward.

(6) Donetsk and Lugansk People's Republic rejected sham elections. They didn't participate.

Putschists amended electoral rules. Turnout didn't matter. Results are considered valid if one constituency alone participates.

(7) Freedom fighting regions aren't the only ones rejecting sham elections. Ukraine's Communist Party may do so. 

Its leader Petr Simonyenk dropped out of contention. Why bother with fascism sure to win.

(8) Putschists barred Russian journalists from covering Sunday's election. They want credible voices silenced. They want their voice alone reported.

(9) RT estimated over 3,600 foreign observers. From 19 putschist-approved countries. From 19 international organizations they approved.

(10) Putin said he'll respect electoral results. He'll work with its leader. At the same time, he rejects putschist rule. More on his strategy below.

Moscow's post-electoral response depends on post-electoral Ukrainian policies. Mostly whether attacking Eastern freedom fighters stops.

At the same time, a viable Ukraine comes down to money. Kiev needs Moscow more than the reverse.

Its heavy industry depends on Russian markets. Some of Poroshenko's factories operate in its heartland.

On May 22, Brookings headlined "Ukraine: A Prize Neither Russia Nor the West Can Afford to Win."

At issue is "how much each side is willing to pay for their preferred outcome." The amount is huge. It's too great to bear.

Brookings estimates around $276 billion. An "unthinkable" amount. "(T)here can be no viable Ukraine without serious" Western and Russian contributions, it said.

"(A) Ukraine exclusively in the West is the least feasible. A Ukraine fully under Russian control and with severed links to the West is, unfortunately, possible."

Russia prefers Ukraine federalized. It wants national unity. Local autonomy. Weak central government. 

Findlandization is option two. Strong Russia influencing weak Ukrainian policy. According to Brookings, Kiev needs normalized Russian relations. 

Expect Poroshenko to go all-out to get it. He has to. He has no other choice. He'll have to pay the price. Expect it to include halting hostilities.

Neocon Obama administration planners miscalculated. They didn't see what unfolded. 

They misjudged. They failed. They missed the East/West split.

Ukraine is geopolitically disintegrating in plain sight. Aggressive war won't change things. It's not working.

Eastern Ukrainians are more resilient than they imagined. They're courageous. They fighting for rights too important to sacrifice.

They're going all-out to preserve them. They're gaining adherents. Scores of Ukrainian soldiers defected. Maybe hundreds will follow. Maybe many more.

They'e reluctant to attack their own people. Special hardline National Guard forces are involved. 

So are neo-Nazi Right Sector thugs. Foreign mercenaries were hired. How things turn out is hard to predict so far.

Conditions are fluid. They're up for grabs. The battle for Ukraine's soul continues. Expect whichever side with more staying power to prevail.

At the same time, Brookings wasn't encouraging overall saying:

"In the 23 years of its independence, the Ukraine has not succeeded in developing a viable economic model, and it failed to promote a higher standard of living for the almost totality of its inhabitants."

"Economic bankruptcy, demographic implosion, ubiquitous corruption, internal and external political polarisation, great power influence if not outright intervention…" 

"Ukraine has been walking on extremely thin ice for quite some time." 

"The weakness of the Ukrainian experimental state has generated a number of dangerous feedback mechanisms…" 

"(T)he weaker Kiev became, the more intense grew international pressure around it, and even inside it." 

"The more intense these international pressures, the weaker Kiev became."

Brookings called 2004 Orange Revolution destabilization "the beginning of the end." Political unrest followed.

Coupled with Kiev's inability to pay its energy bills. It's worse now than ever. Ukraine is bankrupt.

IMF billions are woefully inadequate. Kiev needs many multiples more than any source will provide. 

Protracted Greek-like Depression conditions are certain. Ordinary Ukrainians will suffer most. Unemployment will soar.

Millions will be deeply impoverished. They'll get little or no outside help. They'll be on their own to survive. 

They'll be stuck longterm. Under fascist rule. The worst of all outcomes. How they'll react remains to be seen.

When pain levels cross thresholds too great to bear, all hell breaking lose often follows. Perhaps this time. 

Perhaps Orange Resolution 3.0. A grassroots one this time. Maybe violent. Maybe bloody. With more uncertainty following.

Ukraine is one of Europe's worst basket cases. Economic, political, and socially destructive crises reflect it.

It's internally divided. It's politically unstable. It's despotically governed. 

It's bankrupt. It's hugely in a deepening hole. Russia is advantageously positioned. 

Putin can play a waiting game. Intervention isn't part of his strategy.

He can watch Ukraine disintegrate. See it self-destruct. Name his price for helping.

Ukraine has no choice. Or the West. He's in the catbird seat. He'll come out a winner. He already did.

Previous articles called him a master chess player. He keeps proving it. Bashing him accomplishes nothing.

Sanctions imposed cut both ways. EU countries increasingly realize it. They're more bark than bite.

Perhaps Washington will end up more increasingly isolated. Obama's strategy backfired. 

He picked the wrong adversary. Putin keeps besting him. He's running out of strategies. 

Everyone tried so far failed. Not just in Ukraine. He's by far America's worst ever president.

Its most lawless. It's most ruthless. It's most belligerent. It's most duplicitous.

It's most mendacious. Its most immoral. It's most hypocritical. Its most dishonest. Its own reckless. Perhaps heading for its most hated.

On Sunday, thousands rallied in central Donetsk's Lenin Square. They displayed People's Republic flags.

Speakers urged attendees to boycott illegitimate proceedings. Oplot militia members patrolled area streets to assure safety.

Polling stations closed in Donetsk, Gorlovka, Slavyansk, Kramatorsk, Konstantinovka and Druzhkovka.

Some opened elsewhere. It didn't matter. Ballots weren't available.

It bears repeating. Putschist-approved candidates alone competed. Ballot choices excluded democracy. Fascism won easily.

Ukrainians had no say whatever. Legitimacy was nowhere in sight.

A Final Comment

Runoff voting won't be needed if exit polls are accurate. Three were conducted.

Organizations involved included the Ilk Kucheriv Democratic Initiatives foundation, the Kiev International Institute of Sociology, and the Alexander Razumkov Ukrainian Center for Economic and Political Research.

They had Petro Proroshenko at around 56%. Runner-up Yulia Tymoshenko scored 12%.

At 12:00 GMT, voter turnout was 40%. Some irregularities were reported. They included vote-buying. More information will be known later.

It's unclear how long before final vote tallies are known. On Friday, CyberBerkut hackers said they destroyed Ukraine's Central Election Commission electronic system.

If true and hand-counting follows, perhaps days are needed to complete it.

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net. 

His new book as editor and contributor is titled "Flashpoint in Ukraine: US Drive for Hegemony Risks WW III."


Visit his blog site at sjlendman.blogspot.com. 

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs. 


http://www.progressiveradionetwork.com/the-progressive-news-hour 

We’ve Known for 75 Years Why GM Killing Customers Isn’t Treated as “Real Crime”

William K. Black, J.D., Ph.D. The New York Times headline was dominated by a seemingly strong word: “G.M. Is Fined Over Safety and Called a Lawbreaker.” As I...

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Even so, the bailout clearly did succeed, if success means avoiding another Great Depression.

But another Great Depression might have been avoided if the crisis had been handled differently — for example, by allowing the bankruptcy laws to do what they were intended to do, and forcing the big Wall Street banks to reorganize under them.

In fact, the bailout was a colossal failure in several respects Geithner barely mentions in his book, or avoids completely:  

(1) The biggest Wall Street banks are now bigger than ever, and no sane person on or off the Street now believes Washington will ever allow them to fail – which means they’ll continue to make big, risky bets because they know they can’t fail. And they’ll get even bigger because big depositors and lenders know they’ll never fail and therefore demand lower interest rates than demanded from smaller banks.

(2) No Wall Street executives have ever been prosecuted for what they did to the country, which means even more rampant irresponsibility in executive suites as well as even deeper cynicism in the public about the political power of Wall Street.

(3) The bailout helped the banks but did little or nothing for the tens of millions of Americans who lost billions of dollars in home equity and savings, and the millions more who lost their jobs. The toll was greatest on the poor and the middle class, who still haven’t recovered their losses, even though Wall Street has fully recovered (and then some). Nor have reforms been enacted that will help the middle class and the poor the next time Wall Street implodes.

So pardon me if I take issue with Tim Geithner. The bailout was a success in the narrowest terms. Seen more broadly it was a terrible failure.

We’d  have done better had we forced the biggest Wall Street banks, including the giant insurer AIG, to reorganize under bankruptcy rather than bail them out.

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Odessa Massacre: Eyewitness Account

Odessa Massacre: Eyewitness Account 

by Stephen Lendman

Fascists wage wars their way. Dirty ones rage. America fights this way. 

It's done so throughout its existence. No-holds-barred barbarism reflects official policy.

Washington manipulates criminal events in Ukraine. Coup-appointed putschists are convenient stooges. They're murdering their own people. They're doing it in cold blood.

Donetsk People's Republic leaders said Mariupol self-defense forces were attacked with chemical weapons. A statement issued said:

"Kiev bears the entire responsibility not only for their state agencies' actions, but also for the actions by citizens who illegally apply means of chemical warfare."

"Armed groups controlled by Kiev used unidentified chemical weapons on May 6 while storming the City Council headquarters."

"The defenders of the City Council have left the contaminated area." 

"Many of them had their breathing systems damaged, which is likely to have consequences and probably be a danger to their lives."

A toxic choking agent was used. One victim was diagnosed with unidentified gas poisoning.

Others were affected. Symptoms include first-degree chemical-inflicted eye burns, alcoholic-like intoxication, bodily lacerations and fainting. Victims were hospitalized. 

At the same time, Kiev forces attacked Mariupol. They did so with tanks and other heavy weapons.

Federalization supporters screamed "Fascists." Armored vehicles fired on unarmed civilians. Reports suggest around 20 deaths. Many more were wounded.

The 0629.ua news service reported "a tank seized at the crossroads of Lenina and Torgovaya streets by the representatives of the Donetsk People's Republic."

"At 12.50, 14 tanks were spotted coming from the agricultural base towards Mariupol. According to medics, there are two dead and 8 wounded," the report added.

"(O)n Lenin avenue, two people were seriously wounded - one in the head and another in the stomach." 

"A huge pool of blood (was) next to the Arbat cafe. It's not known whether the wounded people have survived." 

"Witnesses sa(id) they were driven away in a passenger car. The fighting (went) on next to the main police department."

"Gunfire (was) heard. Two armored vehicles blocked Artyom street." Residents barricaded streets. They burned tires. They overturned cars.

They stormed Mariupol's Interior Ministry building. According to a self-defense force representative: 

"Camouflaged people...storm(ed) the building of the city’s interior ministry department. A bus with soldiers dr(ove) up."

"They (came) from a military unit located in the vicinity of Mariupol. Policemen who refuse to obey Kiev regime's orders (were) detained."

"Policemen of the city department refused to obey Kiev's orders and guard the building of the city council, which had been seized a day earlier by the Ukrainian security services." 

"As a result, Kiev authorities decided to storm the building of the city Interior Ministry department. Policemen are shooting back."

"The building (was) surrounded." Self-defense forces said "(a)rmored vehicles approached (it) and opened fire with heavy weapons."

"The building is old and has thick walls, so you can't penetrate it with machine-gun fire." A city resident added:

"On the central street of the city, I saw tanks and armored vehicles with the Ukrainian flags at around 11.40 am (local time)." 

"Then, the city residents started to gather near the city executive committee building." 

"Then some of the protesters tried to go to the district department of interior, but it seemed that the Kiev regime military was beginning to shoot at those who attempted to approach." 

"I don't know if they were shooting to kill, but at their legs - that's for sure."

A separate report said the Interior Ministry was set ablaze.

RT International reported what happened. Its stringer was wounded. He's identified only as Andrey for his safety.

It happened while filming. He sustained a stomach injury. His bulletproof vest didn't help. He's hospitalized in serious condition. Reports suggest he'll survive.

On Friday, gun battles raged. Ukrainian MP Oleg Lyashko said:

"The perimeter around the Interior Ministry department building in Mariupol is completely blocked by the armed forces." 

"Terrorists are barricaded inside and are now returning fire. An order has been issued not to take anyone alive."

Fascists fight this way. Friday was Victory Day. It commemorated Nazi Germany's defeat. Russia honored heroes of its Great Patriotic War.

Ukrainians did so nationwide. Many thousands were on city streets. Imagine waging war this day. Imagine attacking civilians. 

Imagine targeting unarmed ones. Imagine doing so with thousands in harm's way. 

Imagine US media scoundrels ignoring what happened. Imagine European ones misreporting it. 

Imagine them calling freedom fighters "terrorists." Imagine them ignoring civilian casualties.

Imagine fascists fighting this way. Imagine Washington supporting their worst brutality. Imagine direct orders to commit mass murder. One fascist regime supports another.

About 1,500 Mariupol residents participating in Victory Day commemoration marched on police headquarters.

They did so resisting Ukraine's military. According to a self-defense forces spokesman:

"Demonstrators - about 1,500 in all - rushed to the police department building." 

"Men wearing black camouflage walk(ed) towards them, firing shots in the air."

Other residents burned tires near City Council headquarters. Mariupol is one of many Eastern Ukrainian battlegrounds.

Kharkov is Ukraine's second largest city. On Friday, an anti-government rally was held. Around 1,500 residents participated.

One held a sign reading: "Referendum. We're not separatist!" Residents oppose Kiev's "junta." They called coup-appointed officials "US henchemen."

Putschists are waging "war against (their) own people," they said. Thousands of Donetsk residents rallied. They chanted greetings to Great Patriotic War veterans.

"Congratulations!" "Hurrah!" and "Russia!," they shouted. Self-defense forces leader Denis Pushilin thanked veterans for defeating fascism.

He urged people to vote in Sunday's referendum, saying:

"We must confirm our choice on May 11, confirm our holy duty to continue to carry the banner of Victory." 

"We are Russians. The great Russian heritage is awakening in us, and we will win a victory whatever the cost."

Police were supportive. They wore St. George's ribbons. City residents applauded them.

Thousands in Slavyansk rallied. They celebrated Victory Day. They did so despite Kiev-imposed martial law.

Recently released People's Governor Pavel Gubarev urged residents throughout Southeast Ukraine "to join the people's militia under the command of Igor Strelkov."

Slavyansk People's Mayor Vyacheslav Ponomarev called on them to fight fascism. Vote in Sunday's referendum, he stressed.

Odessans displayed a red banner over the Trade Union House building. They did so honoring hundreds Right Sector thugs killed on May 2. Most were inside.

Crowds assembled in Taras Shevchenko Park. They did so to honor Soviet soldiers killed in the Great Patriotic War.

Others gathered in Kulikovo Field. Right Sector thugs burned activist tents on May 2. Doing so was prelude to murdering 300 unarmed civilians inside and outside the Trade Union House building.

Odessan mayoral candidate Aleksey Albu said:

"We have plans to put up a new tent camp after May 9. This time, there will be many more people there."

Odessa and other Eastern Ukrainian cities remain battlegrounds. Expect no end of fighting soon. Perhaps bloodbath conditions before things end.

Orders come straight from Washington. Eliminate opposition elements. Do it at all costs. 

Unleash violence without mercy. Use tanks, artillery, mortars, APCs, helicopter gunships, and other heavy weapons against civilians.

Murder them in cold blood. Lie. Claim they're terrorists. Say you're protecting Ukraine. 

Good journalism is the first casualty of war. It's a "weapon of war," said John Pilger. 

Censorship is longstanding policy. Truth-telling is verboten. Media scoundrels suppress what people most need to know.

Managed news misinformation substitutes. Reporting on Ukraine has been appalling and then some. It matches the worst against Saddam, Gaddafi and Assad.

Bad fiction substitutes for hard truths. It persists daily. Presstitutes make street whores look good by comparison. Marching in lockstep with US policy alone matters.

Expect lots more of the same ahead. Ukrainian crisis conditions promise to get worse. Perhaps much worse before things end.

Perhaps Obama bit off more than he can chew. Ukraine isn't the walkover he planned. He's his own worst enemy.

He may have shot himself in the foot. Putin makes him look amateurish by comparison. 

He outsmarted him since crisis erupted last November.  At times he made him look foolish. 

Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland mocks the office she holds. 

She was caught on tape using obscene language. She admitted Washington spent over $5 billion dollars toppling Ukraine's democratically elected government.

On Thursday, House Foreign Affairs Committee members challenged her with tough questions on Ukraine.

Dana Rohrabacher (R. CA) said Ukrainians had a "legitimate election before, and the legitimate president was removed after we had major street violence." 

"There were pictures of people running around that we were told were neo-Nazis."

Nuland was hard-pressed to answer. Rohrabacher wanted straight talk. She failed to deliver. She lied saying:

"First of all, the vast majority of those who were participating on Maidan were peaceful protesters. There were mothers and grandmothers and veterans."

Rohrabacker interrupted her. He didn't mince words stressing:

"I saw those pictures, and I also saw a lot of people throwing fire bombs at groups of policemen." 

"There were people shooting into the ranks of police. So, yes, there were mothers with flowers, but there were also very dangerous street fighters engaged in those demonstrations." 

"The question is: were there neo-Nazi groups involved?"

Nuland was nonplussed. She couldn't deny credible video evidence. "There were many colors of Ukraine involved including very ugly colors," she said.

She stopped well short of truth, the whole truth, and nothing else. US-supported neo-Nazis bore full responsibility for Maidan violence. Likeminded extremists shared it.

Clear evidence proved it. Coverup and denial suppressed it. Ousted President Viktor Yanukovych had no involvement. Nor members of his government. 

Nuland didn't explain. She's a war criminal. She's guilty of high crimes. Her policy positions indict her. 

She belongs in prison doing hard time. So does Washington's entire criminal class. They mock legitimate governance. 

They shame positions they hold. Washington makes more enemies than friends. They're heading America for tyranny and ruin.

It's too late for mere scattered reforms. Hubris, arrogance and overreach assure ending imperial rampaging sooner or later.

America is plagued by the same dynamic that doomed past empires. It's spending itself to death. It's bullying nations into supporting what harms their own interests. 

It's threatening outliers that don't. It's increasingly having to work harder to accomplish less. It's falling short or failing more often. It's the world's top pariah state. 

It bears repeating. It's heading for tyranny, bankruptcy and ruin. Misguided policies wreck all empires. Washington is no exception. 

The bigger they are, the harder they fall. When America goes, the crash will resonate worldwide. It can't happen a moment too soon.

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net. 

His new book as editor and contributor is titled "Flashpoint in Ukraine: US Drive for Hegemony Risks WW III."

http://www.claritypress.com/LendmanIII.html

Visit his blog site at sjlendman.blogspot.com. 

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs. 


http://www.progressiveradionetwork.com/the-progressive-news-hour 

Kiev Uses Chemical Weapons

Kiev Uses Chemical Weapons 

by Stephen Lendman

Fascists wage wars their way. Dirty ones rage. America fights this way. 

It's done so throughout its existence. No-holds-barred barbarism reflects official policy.

Washington manipulates criminal events in Ukraine. Coup-appointed putschists are convenient stooges. They're murdering their own people. They're doing it in cold blood.

Donetsk People's Republic leaders said Mariupol self-defense forces were attacked with chemical weapons. A statement issued said:

"Kiev bears the entire responsibility not only for their state agencies' actions, but also for the actions by citizens who illegally apply means of chemical warfare."

"Armed groups controlled by Kiev used unidentified chemical weapons on May 6 while storming the City Council headquarters."

"The defenders of the City Council have left the contaminated area." 

"Many of them had their breathing systems damaged, which is likely to have consequences and probably be a danger to their lives."

A toxic choking agent was used. One victim was diagnosed with unidentified gas poisoning.

Others were affected. Symptoms include first-degree chemical-inflicted eye burns, alcoholic-like intoxication, bodily lacerations and fainting. Victims were hospitalized. 

At the same time, Kiev forces attacked Mariupol. They did so with tanks and other heavy weapons.

Federalization supporters screamed "Fascists." Armored vehicles fired on unarmed civilians. Reports suggest around 20 deaths. Many more were wounded.

The 0629.ua news service reported "a tank seized at the crossroads of Lenina and Torgovaya streets by the representatives of the Donetsk People's Republic."

"At 12.50, 14 tanks were spotted coming from the agricultural base towards Mariupol. According to medics, there are two dead and 8 wounded," the report added.

"(O)n Lenin avenue, two people were seriously wounded - one in the head and another in the stomach." 

"A huge pool of blood (was) next to the Arbat cafe. It's not known whether the wounded people have survived." 

"Witnesses sa(id) they were driven away in a passenger car. The fighting (went) on next to the main police department."

"Gunfire (was) heard. Two armored vehicles blocked Artyom street." Residents barricaded streets. They burned tires. They overturned cars.

They stormed Mariupol's Interior Ministry building. According to a self-defense force representative: 

"Camouflaged people...storm(ed) the building of the city’s interior ministry department. A bus with soldiers dr(ove) up."

"They (came) from a military unit located in the vicinity of Mariupol. Policemen who refuse to obey Kiev regime's orders (were) detained."

"Policemen of the city department refused to obey Kiev's orders and guard the building of the city council, which had been seized a day earlier by the Ukrainian security services." 

"As a result, Kiev authorities decided to storm the building of the city Interior Ministry department. Policemen are shooting back."

"The building (was) surrounded." Self-defense forces said "(a)rmored vehicles approached (it) and opened fire with heavy weapons."

"The building is old and has thick walls, so you can't penetrate it with machine-gun fire." A city resident added:

"On the central street of the city, I saw tanks and armored vehicles with the Ukrainian flags at around 11.40 am (local time)." 

"Then, the city residents started to gather near the city executive committee building." 

"Then some of the protesters tried to go to the district department of interior, but it seemed that the Kiev regime military was beginning to shoot at those who attempted to approach." 

"I don't know if they were shooting to kill, but at their legs - that's for sure."

A separate report said the Interior Ministry was set ablaze.

RT International reported what happened. Its stringer was wounded. He's identified only as Andrey for his safety.

It happened while filming. He sustained a stomach injury. His bulletproof vest didn't help. He's hospitalized in serious condition. Reports suggest he'll survive.

On Friday, gun battles raged. Ukrainian MP Oleg Lyashko said:

"The perimeter around the Interior Ministry department building in Mariupol is completely blocked by the armed forces." 

"Terrorists are barricaded inside and are now returning fire. An order has been issued not to take anyone alive."

Fascists fight this way. Friday was Victory Day. It commemorated Nazi Germany's defeat. Russia honored heroes of its Great Patriotic War.

Ukrainians did so nationwide. Many thousands were on city streets. Imagine waging war this day. Imagine attacking civilians. 

Imagine targeting unarmed ones. Imagine doing so with thousands in harm's way. 

Imagine US media scoundrels ignoring what happened. Imagine European ones misreporting it. 

Imagine them calling freedom fighters "terrorists." Imagine them ignoring civilian casualties.

Imagine fascists fighting this way. Imagine Washington supporting their worst brutality. Imagine direct orders to commit mass murder. One fascist regime supports another.

About 1,500 Mariupol residents participating in Victory Day commemoration marched on police headquarters.

They did so resisting Ukraine's military. According to a self-defense forces spokesman:

"Demonstrators - about 1,500 in all - rushed to the police department building." 

"Men wearing black camouflage walk(ed) towards them, firing shots in the air."

Other residents burned tires near City Council headquarters. Mariupol is one of many Eastern Ukrainian battlegrounds.

Kharkov is Ukraine's second largest city. On Friday, an anti-government rally was held. Around 1,500 residents participated.

One held a sign reading: "Referendum. We're not separatist!" Residents oppose Kiev's "junta." They called coup-appointed officials "US henchemen."

Putschists are waging "war against (their) own people," they said. Thousands of Donetsk residents rallied. They chanted greetings to Great Patriotic War veterans.

"Congratulations!" "Hurrah!" and "Russia!," they shouted. Self-defense forces leader Denis Pushilin thanked veterans for defeating fascism.

He urged people to vote in Sunday's referendum, saying:

"We must confirm our choice on May 11, confirm our holy duty to continue to carry the banner of Victory." 

"We are Russians. The great Russian heritage is awakening in us, and we will win a victory whatever the cost."

Police were supportive. They wore St. George's ribbons. City residents applauded them.

Thousands in Slavyansk rallied. They celebrated Victory Day. They did so despite Kiev-imposed martial law.

Recently released People's Governor Pavel Gubarev urged residents throughout Southeast Ukraine "to join the people's militia under the command of Igor Strelkov."

Slavyansk People's Mayor Vyacheslav Ponomarev called on them to fight fascism. Vote in Sunday's referendum, he stressed.

Odessans displayed a red banner over the Trade Union House building. They did so honoring hundreds Right Sector thugs killed on May 2. Most were inside.

Crowds assembled in Taras Shevchenko Park. They did so to honor Soviet soldiers killed in the Great Patriotic War.

Others gathered in Kulikovo Field. Right Sector thugs burned activist tents on May 2. Doing so was prelude to murdering 300 unarmed civilians inside and outside the Trade Union House building.

Odessan mayoral candidate Aleksey Albu said:

"We have plans to put up a new tent camp after May 9. This time, there will be many more people there."

Odessa and other Eastern Ukrainian cities remain battlegrounds. Expect no end of fighting soon. Perhaps bloodbath conditions before things end.

Orders come straight from Washington. Eliminate opposition elements. Do it at all costs. 

Unleash violence without mercy. Use tanks, artillery, mortars, APCs, helicopter gunships, and other heavy weapons against civilians.

Murder them in cold blood. Lie. Claim they're terrorists. Say you're protecting Ukraine. 

Good journalism is the first casualty of war. It's a "weapon of war," said John Pilger. 

Censorship is longstanding policy. Truth-telling is verboten. Media scoundrels suppress what people most need to know.

Managed news misinformation substitutes. Reporting on Ukraine has been appalling and then some. It matches the worst against Saddam, Gaddafi and Assad.

Bad fiction substitutes for hard truths. It persists daily. Presstitutes make street whores look good by comparison. Marching in lockstep with US policy alone matters.

Expect lots more of the same ahead. Ukrainian crisis conditions promise to get worse. Perhaps much worse before things end.

Perhaps Obama bit off more than he can chew. Ukraine isn't the walkover he planned. He's his own worst enemy.

He may have shot himself in the foot. Putin makes him look amateurish by comparison. 

He outsmarted him since crisis erupted last November.  At times he made him look foolish. 

Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland mocks the office she holds. 

She was caught on tape using obscene language. She admitted Washington spent over $5 billion dollars toppling Ukraine's democratically elected government.

On Thursday, House Foreign Affairs Committee members challenged her with tough questions on Ukraine.

Dana Rohrabacher (R. CA) said Ukrainians had a "legitimate election before, and the legitimate president was removed after we had major street violence." 

"There were pictures of people running around that we were told were neo-Nazis."

Nuland was hard-pressed to answer. Rohrabacher wanted straight talk. She failed to deliver. She lied saying:

"First of all, the vast majority of those who were participating on Maidan were peaceful protesters. There were mothers and grandmothers and veterans."

Rohrabacker interrupted her. He didn't mince words stressing:

"I saw those pictures, and I also saw a lot of people throwing fire bombs at groups of policemen." 

"There were people shooting into the ranks of police. So, yes, there were mothers with flowers, but there were also very dangerous street fighters engaged in those demonstrations." 

"The question is: were there neo-Nazi groups involved?"

Nuland was nonplussed. She couldn't deny credible video evidence. "There were many colors of Ukraine involved including very ugly colors," she said.

She stopped well short of truth, the whole truth, and nothing else. US-supported neo-Nazis bore full responsibility for Maidan violence. Likeminded extremists shared it.

Clear evidence proved it. Coverup and denial suppressed it. Ousted President Viktor Yanukovych had no involvement. Nor members of his government. 

Nuland didn't explain. She's a war criminal. She's guilty of high crimes. Her policy positions indict her. 

She belongs in prison doing hard time. So does Washington's entire criminal class. They mock legitimate governance. 

They shame positions they hold. Washington makes more enemies than friends. They're heading America for tyranny and ruin.

It's too late for mere scattered reforms. Hubris, arrogance and overreach assure ending imperial rampaging sooner or later.

America is plagued by the same dynamic that doomed past empires. It's spending itself to death. It's bullying nations into supporting what harms their own interests. 

It's threatening outliers that don't. It's increasingly having to work harder to accomplish less. It's falling short or failing more often. It's the world's top pariah state. 

It bears repeating. It's heading for tyranny, bankruptcy and ruin. Misguided policies wreck all empires. Washington is no exception. 

The bigger they are, the harder they fall. When America goes, the crash will resonate worldwide. It can't happen a moment too soon.

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net. 

His new book as editor and contributor is titled "Flashpoint in Ukraine: US Drive for Hegemony Risks WW III."

http://www.claritypress.com/LendmanIII.html

Visit his blog site at sjlendman.blogspot.com. 

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs. 


http://www.progressiveradionetwork.com/the-progressive-news-hour 

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The Treasury is hiring about 200 more tax specialists. Some of those will be checking on the books of businesses across the island, but some will be mystery shopping – making purchases at specially selected stores without identifying themselves to check for violators. 

Sales tax evaders could get slapped with a maximum $20,000 fine.

But $20,000 for a small business could mean a hefty chunk of revenues. That means a delicate balance for the government: Changing attitudes so that more businesses register and pay their taxes and fees, while not piling so many bills onto small businesses that they collapse

Can you imagine a $20,000 fine imposed on both small and large businesses by the Puerto Rican Government? This will destroy business activities all across the island; even if they managed to collect half of the debt at $35 billion not counting the added interest rates that accumulates over time would help the debt burden:

From the western mountain town of Lares to the capital San Juan, officials are wrestling with how to bring the underground economy out of the shadows and onto the tax rolls without creating such an onerous financial burden that thousands of small and medium businesses can’t survive.

More than a quarter of the island’s economy is informal, some studies say, from large companies evading taxes to individuals selling items for cash at roadside stands. But estimates vary widely because the activity can be so hard to track. 

While not new, the problem has become urgent of late. The government desperately needs to find new revenue to bolster a budget full of holes and turn around an economy now eight years in recession. It is scrambling to avoid a painful debt restructuring some view as almost inevitable

Imposing tax collections or even adding new taxes while Puerto Rico is in a deep recession to meet Wall Street’s demands would destroy whatever is left of the economy. Foreign investors including American and European companies both small and large are becoming more hesitant to invest in Puerto Rican Industries and its real estate markets as the debt crisis continues to spark major concerns. The Associated Press also reported in February that the government has set up a task force that would “target” business owners and individuals. The report stated the following:

Treasury Secretary Melba Acosta said a task force has been set up to target both business owners and individuals, adding that authorities are investigating more than 100 cases and more are expected to follow. Puerto Rico currently has only a 56 percent “capture” rate on tax revenues that should be taken in, losing some $800 million annually as a result, economist Gustavo Velez says.   

The Treasury Department already has referred 12 cases representing a total of more than $8 million in unpaid taxes to the island’s justice department. “This money belongs to the people of Puerto Rico,” Justice Secretary Cesar Miranda said. “It represents a teacher’s salary, a town’s road, a police officer’s uniform.”  

Two business owners have been charged with 36 counts of tax evasion and illegal appropriation, and officials warned that dozens of others could face similar accusations 

Puerto Rico’s government is in a bind. They are indebted to Wall Street and its Hedge Fund partners as they are to Washington. Hedge funds do not include Puerto Rico’s Government officials in their meetings. Bloomberg News reported that Jones Law Firm (who was one of the law firms restructuring Detroit’s bankruptcy) had a meeting that did not include Puerto Rican officials, “Commonwealth officials aren’t involved in the Jones Day meeting and didn’t call for it, according to the statement.” But Puerto Rico’s Government Development Bank’s statement said that “We made significant progress in implementing our fiscal and economic development plans in 2013, and are determined to continue that progress in 2014.” The Puerto Rico government will proceed to actions dictated by Washington and Wall Street duopoly that will undermine the economy.

$70 Billion in debt will increase as the islands residents continue to flee towards other depressed states for job opportunities within the US, including Florida, New York and Chicago. All states mentioned have high unemployment rates, foreclosures as more business and individual bankruptcies continue to rise. Florida now leads the United States in what you would call “Zombie Foreclosures.” In a 2014 article by www.Bizjournals.com called ‘Florida leads nation in ‘zombie foreclosures,’ RealtyTrac says’ claimed that “RealtyTrac considers a “Zombie Foreclosure” when a homeowner abandons a house that is facing a pending foreclosure action. There are about 55,000 of those in Florida, more than triple the nearest state of Illinois.” An economic situation Puerto Ricans arriving in Florida would find to be as dire as it was in their homeland. Increasing tax collections on Puerto Rican businesses and people would only elevate the economic situation to an even worst state of economic affairs. This would create insecurities even among the small business owners who sell produce or ice cream on the road. As you tax more businesses to pay the States debts, you reduce profits that would be used to reinvest in equipment, supplies and even create or maintain jobs to grow the economy.

Not only would it place the burden on the Puerto Rican people, it would frighten foreign businesses, private investors and individuals from investing on the island’s economy that can create jobs. Puerto Rico’s government under Governor Padilla is just another administration under Washington’s rule. Taxing businesses and individuals was the only option the Puerto Rican Government had with regards to their enormous debt burden they face. Besides, Puerto Rico’s largest employer is the government; a bureaucracy that does not produce any goods for trade besides Pharmaceuticals and a handful of other products for the US market. The new actions taken by the Padilla government on behalf of the financial elites is at the expense of those who are financially struggling. It is just business as usual.