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Creeping Fascism

This story isn’t actually about Greece, but it begins there. After the country went functionally bankrupt a few years ago, the solutions proposed by its creditors (mostly European banks and governments) included the impoverishment of its current citizens through cutbacks in wages and pensions, the impoverishment of its future citizens through the borrowing of even […]

 

The End Is Near, Part 1: The “War On Cash”

by John Rubino on April 26, 2015 · 33 comments

As the saying goes, you can know a person by the quality of his or her enemies. This is also true of societies, where moral evolution can be traced by simply listing the things on which they declare war. Not so long ago, for instance, the world’s good guys — the US, Europe’s democracies and […]

 

Clueless In The Middle East

by John Rubino on April 1, 2015 · 31 comments

Starting with the CIA’s overthrow (and some would say murder) of Iran’s democratically-elected president in the 1950s and continuing through our serial invasions of Iraq and our arming of Al Qaeda and ISIS, American policy in the Middle East has been a textbook case of a superpower with more money than brains, making things vastly […]

 

Back in December there was a flurry of press around the passage of a banking bill that was 1) reportedly written by Citigroup and 2) put taxpayers on the hook for over-the-counter derivatives, obscure financial instruments that periodically blow up and in which Citi had a big position. Distrustful cynics like Massachusetts Senator Elizabeth Warren […]

 

Well Played, Wall Street!

by John Rubino on December 14, 2014 · 30 comments

So the markets are getting skittish and the media is obsessing about the many things that could go wrong out there. It’s like 2007 all over again, but with one big difference: Back then the mega-banks were reasonably sure the government would, if necessary, bail them out of their hundreds of trillions of dollars of […]

 

Yeah, This Will Work Out Just Fine

by John Rubino on August 25, 2014 · 11 comments

The Islamic State (ISIS) has set a modern-day “emergent threat” record by going from obscurity to existential global menace in what seems like a matter of weeks. But as with most overnight sensations, there was a longer gestation period outside of the limelight. And like most military threats of the past few decades it was […]

 

A Horrible Thought

by John Rubino on July 31, 2014 · 13 comments

Glenn Greenwald’s No Place To Hide chronicles his work with Edward Snowden to bring the US government’s global surveillance network to light. It’s a chilling book for a variety of reasons, including the following: The secret court that was set up to vet government requests for phone taps and such has become a mere formality. […]

 

Edward Snowden Towers Over His Enemies

by John Rubino on July 19, 2014 · 19 comments

The Guardian just ran an interview with Edward Snowden, the former NSA contractor who blew the whistle on perhaps the most extensive secret spying program in human history and is now a man without a country, very much in danger of assassination or rendition or any number of other nasty things should Washington get ahold […]

 

Fake Conflict: Fed Criticizes Big Banks

by John Rubino on November 8, 2013 · 17 comments

Yesterday, Federal Reserve official William Dudley had some harsh words for Wall Street banks, sort of calling them criminals, among other things: New York Fed Chief Levels Explosive Charge Against Big BanksThe head of the Federal Reserve Bank of New York said Thursday that some of America’s largest financial institutions appear to lack respect for […]

 

Too Big To Even Name

by John Rubino on October 20, 2013 · 19 comments

With the announcement that JP Morgan Chase will pay a $13 billion fine for past crimes against its customers – while the bankers who actually committed the crimes will remain not only unprosecuted but unnamed – a lot of people are wondering how it is that crimes worthy of billions in restitution don’t rate a […]

 

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