Archive | June 6th, 2013

Heartwarming Images From the Turkish Resistance


Not all of the photos to come out of Turkey this weekend were depressing and enraging.  Here is a collection of the best so far.

By JG Vibes

I came across a Imgur album  titled “Heartwarming Images From the Turkish Resistance” while searching the web for photos of this weekends events:

Protesters putting back the misplaced cobblestones.

Protesters putting back the misplaced cobblestones.

An old timer drawing a profile of Ataturk.

An old timer drawing a profile of Ataturk.

Old ladies show their support by banging pots and pans.

Old ladies show their support by banging pots and pans.

Supplies laid out on the windows for those affected from tear gas.

Supplies laid out on the windows for those affected from tear gas.

Lord Vader

Lord Vader

Three different ideologies side by side.

Three different ideologies side by side.

Wearing the rival teams scarf.

Wearing the rival teams scarf.

The “wall of needs”.

The "wall of needs".

Fans of rival teams.

Fans of rival teams.

Rival teams in solidarity.

Rival teams in solidarity.

Rival teams in solidarity.

Rival teams in solidarity.

Protesters cleaning the streets…

Protesters cleaning the streets...
,,,while the police sleep.

Protesters cleaning the streets…

Protesters cleaning the streets...
…while the police sleep.

A dog helping with the cleaning

A dog helping with the cleaning

Kids are also helping with the cleaning.

Kids are also helping with the cleaning.

An image representing the peaceful protests.

An image representing the peaceful protests.

A girl and his boyfriend moments after getting doused by water cannon.

A girl and his boyfriend moments after getting doused by water cannon.

An exhausted duo.

An exhausted duo.

The resistance reading books to the riot police.

The resistance reading books to the riot police.
This is before shit hit the fan…

Protesters helping a dog affected by tear gas

Protesters helping a dog affected by tear gas

“Resistance can take refuge here. Apartment #6″

"Resistance can take refuge here. Apartment #6"

A lady handing out supplies.

A lady handing out supplies.

Visually impaired citizens walking arm in arm.

Visually impaired citizens walking arm in arm.

Old timers in the streets for their country.

Old timers in the streets for their country.

Handing out supplies for those in need.

Handing out supplies for those in need.

Posted in TurkeyComments Off on Heartwarming Images From the Turkish Resistance

Infowars Reporters Confront Bilderberg Security Team



Infowars reporters Paul Joseph Watson and Richard Reeves confront Bilderberg Security Team at The Grove Hotel in Watford


Trans Humanism at The Grove in Watford, EnglandWATFORD – A metal sculpture representing Trans Humanism at The Grove in Watford, England.

By Avalon 

Only hours ago, Infowars reporters Paul Joseph Watson and Richard Reeves confronted the Bilderberg Security Team at The Grove Hotel in Watford, England. The Grove Hotel in Watford is where the Bilderberg Group is having their secretive elitist meeting.

Paul Joseph Watson and Richard Reeves talked attempted to get to the bottom of why their reservations had been cancelled – an apparent violation of UK law. More coverage to follow as things develop at the 2013 Bilderberg Group Meeting – check back often.

The location of The Grove Hotel in Watford, England and other information will be posted as it is assembled and reported in Special Report coming soon.



Infowars Reporters Confront Bilderberg Security
Published on Jun 3, 2013
16 views May 3, 1013 @ 6:45am



Infowars Reporters Confront Bilderberg Security
Published on Jun 3, 2013
16 views May 3, 1013 @ 6:45am
Infowars reporters Paul Joseph Watson and Richard Reeves confronted Bilderberg’s security team at the Grove Hotel in Watford, site of this week’s secretive elitist confab, demanding to know why their reservations had been cancelled in apparent violation of UK law.

PrisonPlanetLive YouTube

The Grove, Watford

Bilderberg Restriction Notices Now Posted Around Grove Hotel for Residents and Protesters


The week ahead: Bilderberg 2013 comes to … the Grove hotel, Watford
The Bilderberg group’s meeting will receive greater scrutiny than usual as journalists and bloggers converge on Watford
Charlie Skelton The Guardian, Sunday 2 June 2013 12.03 EDT


Posted in Campaigns, UKComments Off on Infowars Reporters Confront Bilderberg Security Team

Turkey: Protesters Drive Bulldozer to Prime Minister Erdogan’s Office (Video)


In a sign that there is no turning back from the police brutality witnessed over the weekend, protesters are seen on a recent video driving a large bulldozer towards the Prime Ministers office.

(Photo by Spencer Platt/Getty Images)

(Photo by Spencer Platt/Getty Images)

By JG Vibes

The description for the video reads:

Protesters charged towards Turkish Prime Minister Recep Tayyip Erdogan’s Dolmabahce office on Sunday night on a bulldozer.

Chasing police through the streets followed by crowds from the north side of Besiktas Stadium, the bulldozer pushed back lines of riot police until it reached within 500 metres of the office of Erdogan, who is currently on a trip to North Africa.

On Dolmabahce Road, police hit back firing rounds of teargas grenades causing injured protesters to flee to the nearby Bezmialem Mosque. The mosque has become a centre for treating protesters in Besiktas, which has seen the most intense clashes over the weekend in Istanbul.

The following video was also posted:


In another video protesters can be seen building a barricade to protect themselves from riot tanks and water cannons:


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Bilderberg Fringe Festival “Banned” by Watford Council and Police – Protesters Unfazed


Organizers and protesters react to a Bilderberg protest event getting banned by local police.

By David Icke

I have had nothing to do with the organisation of this peaceful protest against the manipulation of world events by the Bilderberg Group at the Grove Hotel in Watford next week, but I did agree to speak there on Saturday, June 8th, along with Alex Jones.

The organisers have played the game absolutely straight, fair and by the rules by consulting with the police and Watford Borough Council to find a suitable location near the hotel that would be non-disruptive to the local community.

The organisers agreed with the police that Cassiobury Park, about two miles from the entrance to the Grove, would be the most suitable location but now Watford Borough Council has refused the request to hold the event next weekend because the application was not made three months in advance.

How can you apply three months in advance when the Bilderberg Group does not publish its intended locations and so they are only uncovered close to their meetings? This is, in effect, a ban on the festival and there is no right of appeal.

Objectors to it going ahead included Hertfordshire police. What the police and the council should now take into serious account is the anger and outrage there will be among the thousands who were planning to be there at having their right to peaceful protest against a sinister and despicable organisation denied by the same police and council that are licking the arse of the Bilderberg organisers.

Yes, sir, no, sir, G4S, sir. Any protest is now confined to a tiny area near the entrance to the Grove Hotel and what if very large numbers of people who have had enough of the tail wagging the elephant turn up at the entrance to the Grove Hotel itself en masse?

I will certainly be there on Saturday and speak in whatever form I can and I am sure that Alex Jones will do the same. Think on, dark suits and uniforms, think on, because we THE PEOPLE have fucking had enough.

This is a public number for the Hertfordshire Police if you want to peacefully make your feelings clear about this: 01707 354000. This number is publicly listed for ‘general police enquiry, advice and information’. P.S.: There is a comment on the link below which suggests that what is written here is a ‘thinly-veiled’ threat with regard to peaceful behaviour.

I despair sometimes, I really do, after spending the last 25 years campaigning for non-violence (see video Bilderberg non-comply dance). This is the sequence that I am talking about: Location for peaceful protest denied; outrage at denial of freedom of expression leads to people saying ‘I am going anyway’.

The ‘consequences’ that I am talking about are the sheer numbers that this could potentially bring to a location where they have nowhere to go. The last thing we need is violence in any situation and nor, for that matter, do we need fast asleep people who think they are awake.

Posted in USAComments Off on Bilderberg Fringe Festival “Banned” by Watford Council and Police – Protesters Unfazed

Photos: Turkey Media Shows Cooking, Pet Shows as 1+ Million Protest


As around 1 million Turkish citizens continue to secure Istanbul’s main square in protest against government control, the Turkish media has completely blacked out the event and continues to play cooking shows and animal documentaries instead.


By Anthony Gucciardi

The media blackout demonstrates how the controlled mainstream media ultimately sides with government interests over the interests of the people. Or even real news that could generate large amounts of income for the news agencies if they reported on the intense clashes between police and protesters at the heart of Istanbul. Quite simply, news agencies like CNN will even side with the government on these issues when it means forfeiting a large chunk of cash.

And what better programming to air on the government-controlled media during massive anti-government protests then cooking shows and cute animals? Here’s another programming comparison (photo credit goes to a Reddit poster here), where you see the Turkish media showing some food-based distraction program as the streets are ablaze in protest:


As you saw in the image above, CNN International is actually covering the events to the rest of the world that does not live in Turkey (at least on CNN International, which is way better than the US version). But how about those in Turkey, the citizens that are actually most affected by the news and may decide to stand up for themselves as well if they knew about the protests? Well, they’re stuck watching cooking demonstrations and penguin-based animal programming so that they continue to be completely ignorant of the protests that have garnered one million or more concerned citizens to gather in the heart of Istanbul without proper coverage.

The event goes to show just how controlled the flow of information truly is when the mega media is involved. If they don’t want you to know, then it won’t even be mentioned. Here are some more photos the Turkish media will not show (album here):

Demonstrations Repeatedly Ignored By Media

You see, effective demonstrations are virtually always ignored by the mainstream media in their respective nations. Whether we’re talking about pro-Second Amendment rallies, the March Against Monsanto, or any of the numerous marches on Washington D.C. that amassed hundreds of thousands of concerned citizens. There may be some coverage at 10 PM on a Saturday night from local news (a real example with March Against Monsanto), or CNN coverage making them look nuts, but at the end of the day it’s up to the alternative media to propel these things into the light.

Turkey’s government-controlled media is extremely blatant to us, butthe reality is that the mainstream media within the United States won’t touch many of the real issues either. We have been successful in launching intellectual catapults full of real news over the gated castle walls of news juggernauts like CNN and others, but at the end of the day the mega media will continue to spew toxic waste into your living room in the form of distraction-based information. It’s time to seek truth in news from outside the mega media.

Posted in TurkeyComments Off on Photos: Turkey Media Shows Cooking, Pet Shows as 1+ Million Protest

Would the US Military use Robots to Violently Curb a Necessary Revolution?


While Revolution flows through the minds of many across the globe, people must consider the forces revolutionaries may face in attempting to over throw a tyrannical government- how far would the government go to keep their power? Would they dare use military robots and high technology to violently curb a necessary revolution?


by Cassius Methyl

Revolution is brewing in the hearts and minds of human beings globally, seemingly, like never before. As people dream of a peaceful, orderly disillusion of the tyranny that binds us, we must consider- what is the point of no return in our wage enslavement?

What is the point at which a revolution is physically impossible, if there is such a point? Could the protesters and revolutionaries of America be shut down by robotic humanoids? A program by the US military known as “DARPA” may prove that this is a possibility.

What happens if we, the citizens, keep allowing the governments to build and stock technology that could murder a revolution at the push of a button? What will be the end result of citizens just watching the police state unfold, doing nothing, allowing the government to build remotely controlled, anti-revolutionary robotic armies?

This may be one of the most important government activities to stop, one of the highest priorities when it comes to protesting an activity of government and military. The worst case scenario must too, be thoroughly analyzed.

After seeing the events unfold in Turkey over the weekend, this question weighs heavily on the minds of people who want revolution- how would the protestors and instigators of a necessary revolution have success against the tremendous force of government and the military? Waking up police and soldiers is one crucial step in calling for revolution, but what if the elitists and people in power use machines, and remotely controlled robots, or even armies of machines to keep their power?

We can’t allow government to use robotic armies or stock this extremely dangerous technology, and we citizens must make it a high priority to protest the military’s use and abuse of this power. If we allow the government to create an army of powerful robots that they can remotely control, who knows how horrible the police state could get, who knows when we will be freed, and no longer be wage slaves.

The US Military’s “DARPA” program is well on its way to developing humanoid robots that can run, jump, and overcome nearly any obstacle in its way. They can operate cameras, use facial recognition technology to recognize an individual and murder them, and these robots can do nearly anything they are programmed to do. Do you want your tax dollars to go to the creation of a robotic military dictatorship? This dystopian, disturbingly powerful military technology that the US Military is using and wants to expand the use of, must be protested at any cost by the people.

What could we possibly do in a revolution, against thousands of robotic, humanoid, remotely controlled military robots, that can track and kill individuals with precision that was only previously seen in fiction? The solution is simple- don’t allow a government that is supposed to serve the people in the first place, use this dangerous technology.

It is crossing a line into military dictatorship, and it is fundamentally important to our freedom that we don’t allow these robots to be used. The military is absolutely not to be trusted with these robots, yet there are already thousands of military robots occupying Iraq and Afghanistan. You don’t hear about that from the mainstream media, do you? I suggest people keep their eyes peeled, and prevent the United States from slipping into a full on military dictatorship at any cost.

Posted in USAComments Off on Would the US Military use Robots to Violently Curb a Necessary Revolution?

Soldier pleads guilty in Afghan massacre, says ‘not a good reason in this world’ for slayings


(Peter Millett/ Associated Press ) – In this detail from a courtroom sketch, U.S. Army Staff Sgt. Robert Bales, left, stands before military judge Col. Jeffery Nance, right, Wednesday, June 5, 2013, during a plea hearing in a military courtroom at Joint Base Lewis-McChord in Washington state. Bales pleaded guilty to multiple counts of murder, stemming from a pre-dawn attack on two villages in Kandahar Province in Afghanistan in March, 2012.

By Associated Press
JOINT BASE LEWIS-MCCHORD, Wash. — Seated at a table with his hands folded in front of him, twiddling his thumbs, an American soldier dryly spoke about how he slipped away from his base in Afghanistan last year in the middle of the night and killed 16 civilians, later setting some bodies on fire with a kerosene lantern.

Many of his victims were women and children who were asleep in their villages when Staff Sgt. Robert Bales approached, armed with a 9 mm pistol and an M-4 rifle equipped with a grenade launcher.

Responding to a military judge who accepted his guilty plea — allowing him to avoid the death penalty — Bales on Wednesday acknowledged that he raised his weapon and opened fire multiple times. But the married father of two couldn’t say why he committed one of the worst atrocities of the war.

“Sir, as far as why — I’ve asked that question a million times since then. There’s not a good reason in this world for why I did the horrible things I did,” he said.

For each charge, Col. Jeffery Nance asked him a series of questions to assess the validity of his plea. Did he believe he had legal justification to kill the victims? Was he acting in self-defense? Did anyone force or coerce him to commit the murders?

For each, Bales answered, “No, sir.”

In a clear, steady voice, Bales also read from a statement.

“This act was without legal justification, sir,” the 39-year-old infantryman said.

Bales’ plea ensures that he will avoid the death penalty for the middle-of-the night slayings that so inflamed tensions with the people of Afghanistan that the American military suspended combat operations there. It was three weeks before Army investigators could reach the crime scene.

In Afghanistan Thursday, family members of victims said they were outraged that Bales will not face the death penalty.

“I am shocked to see that a person who killed 16 and wounded six has been given such leniency,” said Baraan Noorzia, whose brother was killed. “We will raise our voices from here to our president, to all human right organizations, and the American people that there should be no mercy for a person who carried out such a massacre.”

A man who lost his wife and three other family members said the outcome isn’t acceptable.

“If there is no death penalty over there for him, then he should be brought to Afghanistan because he is guilty and he did this crime,” said Sayed Jan. “From day one we have been saying that he should have been put on trial here.”

Prosecutors say Bales left on March 11, 2012, from his base in Kandahar Province. He attacked a village of mud-walled compounds called Alkozai, then returned and woke up a fellow soldier to tell him about it.

The soldier didn’t believe Bales and went back to sleep. Bales then left to attack a second village known as Najiban.

A jury will decide in August whether the soldier is sentenced to life with or without the possibility of parole. He would serve his prison sentence at Fort Leavenworth, the military prison in Kansas. If he is sentenced to life with the possibility of parole, he’d be eligible in 10 years, but there’s no guarantee he’d receive it.

Posted in USA, AfghanistanComments Off on Soldier pleads guilty in Afghan massacre, says ‘not a good reason in this world’ for slayings

This is the week Labour turned its back on the welfare state


6 June 2013: As Ed Miliband backs a cap on benefits spending, Tom Walker says that the more you read of Labour’s new welfare policies, the worse it gets

Two Eds… but their policies are no joke

They finally went and did it. Granted, the signs have long been there – not least in human form      as Liam Byrne – but this week the Labour leadership finally capitulated to the Tory agenda on benefits once and for all.

This is what Ed Miliband said today: ‘The biggest item of expenditure, alongside the NHS, is the social security budget. The next Labour government will have less money to spend… Social security spending, vital as it is, cannot be exempt from that discipline.’ He came out in favour of a three-year cap on welfare spending.

As ever with an Ed Miliband speech, there is plenty of vague leftish waffle in there to sugar the pill – this time talking about housebuilding and tackling private landlords. But that should not distract us from the core of the message, full of disgusting phrases like ‘something for nothing’, ‘there is a minority who don’t work but should’ and ‘it is wrong to be idle on benefits when you can work’.

The more you read, the worse it gets. Miliband thinks that people should get lower unemployment benefits unless they have worked for at least five years. He proposes that parents should be forced (‘we should offer and demand’) into work-related training when their children are as young as 3. He supports Atos-style tests for disability benefit in principle. He says the retirement age should increase – again!

No opposition to cuts

All that comes after Ed Balls’ prelude earlier in the week. His plan to slash winter fuel payments was widely reported as only hitting ‘wealthy pensioners’. But this is to misunderstand the point of the principle of universal benefits.

As soon as you limit benefits to people on lower incomes, you introduce the nightmare of means-testing, where people have to fill in long forms and prove they’re poor to get the benefit. People feel stigmatised, and afraid that any error will carry a harsh punishment. The end result is that many leave money they are entitled to unclaimed.

Balls spoke of ‘iron discipline’ on spending – and said he would stick to the Tories’ spending plans after the election. In one deft move, then, Labour has not only given in over welfare but sold the pass on all public spending cuts for years to come.

Guardian columnist Polly Toynbee offered this explanation for his motive: ‘Swallowing the iron envelope hurts, but it has become a necessity since Labour’s failure to win crucial arguments: Labour “overspending” has been successfully blamed for the size of the national debt… The hard truth is that the Tories and their mighty press have won the battle over the writing of that history, as victors do.’

But is it any wonder that support for welfare is slipping when the main social democratic party refuses to argue for it? Is it a surprise that people don’t ‘get’ universalism when there’s no voice putting it forward? Are we really supposed to believe that people are so easily led that the right wing press’ myth-making can make them magically forget the entire banking crisis?

If Labour won’t speak up for the welfare state at the very moment when its existence is imperilled, then it’s up to us on the left to make sure we defend it more strongly than ever.

Posted in Politics, UKComments Off on This is the week Labour turned its back on the welfare state

Urgent: Whistleblower Ben Fellows Missin



We have been in contact with whistleblower Ben Fellows’ wife on the disappearance of her husband. Please read the following article and get this out to as many people as possible, we all want Ben to return to his family safely.


Ben Fellows


At the recent UK Column conference, Ben was informed by Dave Eden, a former CID detective, that his wife was in immediate danger as a result of Ben’s work. It was made clear that Ben should have an “exit strategy”.

On Thursday 23rd of May, after the attacks in Woolwich (approximately half a mile from the Fellows residence),  Ben and his wife returned home from visiting friends to find that their flat had been broken in to. Nothing appeared to be stolen.

At 11:30pm that evening, the phone rang and an anonymous man told Ben to look outside his window to the other side of the street. A man in a black ski mask stood there on a mobile phone, the caller said “What happened to that soldier today is what is going to happen to you”

By the 28th of May, Ben and his wife decided to leave London and to drive to a safe house.  On arrival to the safe house, the couple were told that the safe house had been compromised, so Ben decided to leave on his own for fear of harm coming to his wife. He arranged to stay with a friend at a location known to Ben and his Wife.

However, nothing has been heard from Ben since he left on the 28th of May.  This morning (3rd of June), Ben Fellows’ wife received word from the friend whom Ben was to stay with, who alerted her that Ben never arrived.

We are now attempting to contact various resources to see if anyone in the intelligence network has any details on Ben’s location.

If you have any information on Ben, please contact us in complete confidentiality.

Posted in USAComments Off on Urgent: Whistleblower Ben Fellows Missin



by jimcraven10

Globalism’s Gift: High Unemployment, Low Wages, Financial Crises and the Erosion of the Dollar: The Social Costs of CapitalismPost Categories: Economy
4TH MEDIAPaul Craig Roberts | Sunday, June 2, 2013, 14:03 Beijing
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Paul Craig Roberts-big

When I was a graduate student in economics, the social cost of capitalism was a big issue in economic theory. Since those decades ago, the social costs of capitalism have exploded, but the issue seems no longer to trouble the economics profession.

Social costs are costs of production that are not born by the producer or included in the price of the product. There are many classic examples: the pollution of air, water, and land from mining, fracking, oil drilling and pipeline spills, chemical fertilizer farming, GMOs, pesticides, radioactivity released from nuclear accidents, and the the pollution of food by antibiotics and artificial hormones.

Some economists believe that these traditional social costs can be dealt with by well defined property rights. Others think that benevolent government will control social costs in the interests of society.

Today there are new social costs brought by globalism. For developed countries, these are unemployment, lost consumer income, tax base, and GDP growth, and rising trade and current account deficits from the offshoring of manufacturing and tradable professional service jobs.

The trade and current account deficits can result in a falling exchange value of the currency and rising inflation from import prices. For underdeveloped countries, the costs are the loss of self-sufficiency and the transformation of agriculture into monocultures to feed the needs of international corporations.

Economists are oblivious to this new epidemic of social costs, because they mistakenly think that globalism is free trade and that free trade is always beneficial.

Economists are also unaware of the social costs of deregulation. The ongoing financial crisis which requires massive public subsidies to “banks too big to fail” is a social cost resulting from government accommodating Wall Street pressure to deregulate the financial system by repealing the Glass-Steagall Act, by removing the position limits on speculators, by preventing the CFTC from regulating derivatives, and by turning the Anti-Trust Act into dead-letter law and permitting massive economic concentrations.

The social costs of successful corporate lobbying is enormous. But economists who believe that markets are self-regulating imagine that an enormous gain in efficiency has occurred, not massive social costs.


In order to keep the deregulated financial system afloat, the Federal Reserve has monetized trillions of dollars of debt over the last several years. Real interest rates have been driven into negative territory. Retirees are unable to earn any interest income on their savings and have to draw down their capital in order to cover their living expenses.

The liquidity injected into financial markets by the Federal Reserve’s policy of quantitative easing has produced huge bond and stock market bubbles. When they pop, more American wealth will be wiped out and more jobs will be lost. Consider just one example of the social costs of jobs offshoring.

When US corporations produce abroad the goods and services that they market to Americans, the goods and services that flow into the US arrive as imports. Thus, the trade deficit rises dollar for dollar.

The trade deficit means that the US has imported more than it has earned in foreign currencies by exporting. For most countries this would be a problem, but not for the US.

The US dollar is the world reserve currency, which means that it is the means of international payment and that foreign central banks hold US dollars as reserves to secure the values of their own currencies.

With the passage of time, this advantage becomes a disadvantage, because foreigners use the dollars gained from their trade surpluses to buy up American income-producing assets.

They buy US Treasury bonds and US corporate bonds, and the interest income leaves the country. They purchase US companies, and the profits, dividends and capital gains leave the country. They lease Chicago’s parking meters and American toll roads, and the revenues flow abroad.

The enormous outflow of income streams creates a large current account deficit for the US, which means that foreigners have even more surplus dollars with which to buy up more US assets. In other words, a chronic trade deficit is a way to redirect a country’s revenues and profits into overseas hands.

The ownership of a country changes from its own citizens to foreigners. According to Reuters, in 1971 foreign companies owned 1.3% of all corporate US assets.

By 2008 foreigners owned 14.2 percent of all US industries, including 21.5% of mining, 25% of manufacturing, 30.2% of wholesale trade, 12% of information industries, 12% of real estate, 15% of finance and insurance, 25% of professional, scientific, and technical services, 11% of entertainment and recreation and 11% of accommodation and food services, according to a report from Economy In Crisis.

stagnation decline-of-us-dollar-purchasing-power-stats

Numerous famous American brand names now are companies owned by foreigners.

Budweiser belongs to a Dutch company. Alka Seltzer belongs to a German company.

Firestone belongs to a Japanese company. The magazines Car and Driver and Woman’s Day are owned by a French company. Gerber baby food and Purina dog food belong to Swiss companies. Hellman’s Mayonnaise and Ben & Jerry’s ice cream belong to UK companies. Many thousands of former US companies have moved into foreign control as a result of the US trade deficit, which is swollen by the offshored production of US corporations.

The policy of chasing lowest labor cost abroad, that is, of pursuing absolute advantage, the antithesis of comparative advantage which is the basis of free trade, is the redirection of US profits, capital gains, rents, interest, parking meter and toll road fees into foreign hands.

Thus, there is a high social cost from corporate executives pursuing short-term profits in order to maximize their performance bonuses. The profits from offshored production are not indications of economic efficiency and social welfare. Most likely, the social costs to the US of offshored production are larger than the profits gained, making jobs offshoring a net loss to the US economy. There is little doubt that the social costs of GMOs exceed the profits of Monsanto.

But don’t expect mainstream economists to pay any attention. They are still waxing eloquently about the advantages of Globalism’s gift of the New Economy of high unemployment and low wages, financial crisis and dollar erosion.

Dr. Paul Craig Roberts is a former Assistant Secretary of the US Treasury and Associate Editor of the Wall Street Journal. His latest book is The Failure of Laissez-Faire Capitalism. Roberts’ How the Economy Was Lost is now available from CounterPunch in electronic format.

Tags: economists Paul Craig Roberts trade US
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