Excited Delirium

Stories about Excited Delirium, the Shock Economy and a little fiction here and there.

Paulson’s Plan and the Sucker Who Bought It

Original story here .

Folks, this bailout money isn’t about loosening credit for consumers or businesses, but consolidating wealth and power in fewer and fewer banking hands. That’s great business for the banking elites, but lousy business for the US taxpayer. And it’s all being orchestrated by one of their own, in the shape of Hank Paulson , ably assisted by Neel Kashkari , another ex-Goldman Sachs employee (with, according to the US Treasury , expertise in mergers and acquisitions — what a surprise), and now responsible for administering the banking handouts.

Still, there’s a Presidential election in the offing, and most people’s attention is elsewhere; currently, it seems, on the cost of Sarah Palin’s wardrobe. Meanwhile, the future earnings of US citizens are being siphoned off into supporting the empire building of the US banking oligarchy.

Stupid, stupid people.

The best part of this story:  the comment that provides this link .  If you don’t want to wait through the 47-minute presentation, the point is this:  money =debt.

US Attacks … (fill in Middle East country here)

In this piece , it was reported that the US had attacked Syria.  Ooops.  We didn’t realize that the border was so close.  Like an elephant in a china shop.  Let’s hope it’s just not a shop in China.

A month ago it was Pakistan.  Next month, it’ll probably be Iran.  In 2009, it’ll likely be Venezuela.

ARE YOU NEXT?

The Race … for a Share of the Porkbarrel Bailout

In the US, the race to the porkbarrel has begun .  Companies, lobby groups, consultants and other ‘experts’ are lining up at the trough to stuff themselves with US taxpayer cash.

And you’d better damn well hurry because the Chinese are going to start calling loans and the cash will run out soon!!

Ah, who am I kidding?  Unless you’re a good buddy to Bush or Cheney, forget it.  You’ll be banished to the back of the line.  This is scum at its scummiest and I’m astounded that the entire US population is not boiling in revolution right now.

Why the US dollar is rising … when it shouldn’t be

A lot of people have seen their purchasing power disappear overnight because their currency has eroded very drastically over the last few weeks.  In Canada, the loonie was trading at about par with the US dollar about 2 months ago and now it’s down around the $0.75-$0.78 range.

A lot of people have been scratching their heads trying to figure out why.

And along comes this site which offers a very sound rationale :  there’s a massive debt being called in the derivatives market in the coming weeks and the only way to pay those debts is in US dollars, given that a broad range of commodities are still priced in US currency.

Expect more volatility as contracts wind down or are forced to be wound down.  The time-frame will likely be 3-6 months and the gyrations in the market place will be in the range of several hundreds points per day as cash is generated and dumped into the market by automated trading.

And when the dust settles:  "A new dawn will have arrived and what remains of the old world will have to be transformed to fit the new realities. Basically there is not enough cash on the planet to pay the Piper on this one."

A full list of What to do with the financial crisis

This list almost seems palatable, given the rocky ride being presented to the world’s public.

Here’s a quick recap:

  • Close all Banks and Financial institutions now.
  • Stop paying taxes.
  • Count what’s actually left in the public coffers.
  • Put all of it in a central fund for now.
  • Sack all Governments Now.
  • Disband the Stock Exchange.
  • Prohibit speculation on commodities that people need to survive.
  • Form Local Community Boards across every country in the World.
  • Hold Local elections for membership.
  • Setup Local funds for each Local Board.
  • Distribute the remaining wealth to the local boards.
  • Charge the Local boards with one duty and one only: Serve their electorate. Period.
  • Form cooperatives between local Boards to use the resources of each for the benefit of all including transport infrastructure and natural resources.
  • Count all the Pennies, Yen, Kroner, Dollars, Yuan, etc etc and burn them all. Form a new monetary system , backed by something solid like Gold or Silver (Wait a minute, they used to do that for 5000 years). Do not under any circumstances depeg the currency from the Gold / Silver backing it. (Nixon, you gangster)
  • Now reset the counters to Zero and start again.

Palin’s Home State Paper Endorses Obama

This endorsement was offered by the Anchorage Daily News which is, of course, in Sarah Palin’s home state.  Now, I’m sure there are lots of publishers in Arizona endorsing Obama or lots of folks in Illinois endorsing McCain, but this seems very apt for the current state of the election.

That said, let’s see how the election results actually pan out before gloating too much.

Monsanto out to ruin farming in Mesopotamia?

Just as I’m reporting on SPIN farming and efforts to grow our own produce in our backyards, I come across this article describing Monsanto’s efforts to control farming in Mesopotamia.  While we make efforts to collect and harvest heritage seeds, Monsanto is ramming ‘democracy’ down the throats of Iraqi farmers in the form of legalized theft.

This whole thing disgusts me.  I could be wrong, as I’m not an agrarian historian, but how can we sanction this top-down approach to farming, when it was most likely the Mesopotamians that domesticated wheat and other products in the first place, largely out of respect for variety and diversity.

Here are some snapshots from the article:

The 100 Orders [of Paul Bremer] allow multinational corporations to basically privatize an entire nation, and this degree of foreign and private control has not been witnessed since the days of the British East India Company and its extraterritoriality treaties.

A few examples of the 100 Orders are illuminating:

  • Order 39 allows for the tax-free remittance of all corporate profits.
  • Order 17 grants foreign contractors, including private security firms, immunity from Iraq’s laws.
  • Orders 57 and 77 ensure the implementation of the orders by placing U.S.-appointed auditors and inspector general in every government ministry, with five-year terms and with sweeping authority over contracts, programs, employees and regulations.

Back to one of the most blatant orders of all: Order 81. Under this mandate, Iraq’s commercial farmers must now buy "registered seeds." These are normally imported by Monsanto, Cargill and the World Wide Wheat Company. Unfortunately, these registered seeds are "terminator" seeds, meaning "sterile." Imagine if all human men were infertile, and in order to reproduce women needed to buy sperm cells at a sperm bank. In agricultural terms, terminator seeds represent the same kind of sterility.

Terminator seeds have no agricultural value other than creating corporate monopolies. The Sierra Club, more of a mainstream "conservation" organization than a radical "environmentalist" one, makes the exact same case:

"This technology would protect the intellectual property interests of the seed company by making the seeds from a genetically engineered crop plant sterile, unable to germinate. Terminator would make it impossible for farmers to save seed from a crop for planting the next year, and would force them to buy seed from the supplier. In the third world, this inability to save seed could be a major, perhaps fatal, burden on poor farmers."

What makes this Order 81 even more outrageous is that Iraqi farmers have been saving wheat and barley seeds since at least 4000 BC, when irrigated agriculture first emerged, and probably even to about 8000 BC, when wheat was first domesticated. Mesopotamia’s farmers have now been trumped by white-smocked, corporate bio-engineers from Florida who strive to replace hundreds of natural varieties with a handful of genetically scrambled hybrids.

Just in case Iraqi farmer can’t read, Order 81 enforces the new monopoly on seeds with the jackboot. Order 81 makes this clear in its own text, buried at the bottom of the document, as is most screw-you fine print:

"The court may order the confiscation of the infringing variety as well as the materials and tools substantially used in the infringement of the protected variety. The court may also decide to destroy the infringing variety as well as the materials and tools or to dispose of them in any noncommercial purpose."

Order 81 is about power and profit, but it disguises itself as humanitarian legislation.

In Canada, we’ve also been inundated with terminator seeds, but all is not lost because of heroes like Percy Schmeiser .  He managed to fight Monsanto and won, in an undisclosed settlement in his favour.

SPIN Farming

SPIN is short for "Small Plot Intensive" Farming, a project that was started by Wally Satzewich and Gail Vandersteen.  Their site can be found here .

The purpose of the project is to maximize the use of backyard space in urban and suburban areas.  I’d like to help them get a boost, mainly by encouraging people to link to their site and refer to them on your own personal (or business) blogs.

Ideally, we’d be able to create a larger marketplace where potential "vacancies" or available plots can be filled by eager farmers.  Please contact them if you’re interested in either approach so that they can generate a more robust list.

The Power of the Internet and the End of Rovian Politics

This is an inspirational piece .  I read it with glee.  Before reading below, here’s a great example of what Ms. Huffington is talking about.

Here are some of the details:

Thanks to YouTube — and blogging and instant fact-checking and viral emails — it is getting harder and harder to get away with repeating brazen lies without paying a price, or to run under-the-radar smear campaigns without being exposed.

But the McCain campaign hasn’t gotten the message, hence the blizzard of racist, alarmist, xenophobic, innuendo-laden accusations being splattered at Obama.

And it seems that the worse McCain is doing in the polls, the more his team is relying on the same gutter tactics. So over the next 15 days, look for the McCain campaign to become even uglier. That’s what happens when following Rovian politics is your only strategy — and Rovian politics isn’t working.

McCain has stockpiled his campaign with Rove henchmen, including not one but three of the people responsible for the political mugging inflicted on him in 2000.

Just last week he brought on Warren Tompkins in an "unofficial" capacity to see how receptive North Carolina would be to some Rovian slime. After all, it’s right next door to South Carolina, where in 2000 Tomkins and his buddies in the Bush campaign spread race-baiting rumors about McCain having an illegitimate black daughter (referring to McCain’s adopted Bangladeshi daughter Bridget).

And those disgraceful robo-calls that McCain is running ? They were done with the help of Jeff Larson and his firm FLS-Connect — the same firm that created the robo-calls smearing McCain in 2000.

At the time, McCain’s reaction to the attacks on him was: "I believe that there is a special place in hell for people like these."

His reaction now? I have a special place in my campaign for people like these!

So the Karl Rove specials keep coming. Obama and Ayers. Obama the Socialist. Obama and ACORN "destroying the fabric of democracy." Palin (herself the manifestation of Rovian decision-making) delineating which parts of "this great nation of ours" are "pro-American." (Interestingly, the sites of the 9/11 attacks didn’t make the list.)

And, did you hear, Obama is also… black! And he wants to give your money to all the poor black people! McCain didn’t come right out and say that, but it’s surely what he insinuated in his radio address this weekend: "Barack Obama’s tax plan would convert the IRS into a giant welfare agency." Somewhere, Karl Rove is smiling, Richard Nixon’s southern strategy is waxing nostalgic, and John McCain’s missing moral compass is getting steamed about John Lewis’ evocation of the civil rights struggle.

But there is a diamond amidst all this dung: the lack of traction this Rovian politics is getting. It’s as if Rove and his political arsonists keep lighting fires, only to see them doused by the powerful information spray the Internet has made possible.

The Internet has enabled the public to get to know candidates in a much fuller and more intimate way than in the old days (i.e. four years ago), when voters got to know them largely through 30-second campaign ads and quick sound bites chosen by TV news producers.

Compare that to the way over 6 million viewers (on YouTube alone) were able to watch the entirety of Obama’s 37-minute speech on race — or the thousands of other videos posted by the campaign and its supporters.

Back in the Dark Ages of 2004, when YouTube (and HuffPost, for that matter) didn’t exist, a campaign could tell a brazen lie, and the media might call them on it. But if they kept repeating the lie again and again and again, the media would eventually let it go (see the Swiftboating of John Kerry). Traditional media like moving on to the next shiny thing. But bloggers love revisiting a story. So when Palin kept repeating her bridge to nowhere lie, bloggers kept calling her on it. Andrew Sullivan, for one, has made a cottage industry of calling Palin on her lies. And eventually, the truth filtered up and cost McCain credibility with his true base: journalists.

The Internet may make it easier to disseminate character smears, but it also makes it much less likely that these smears will stick.

As a result, the McCain campaign’s insinuation-laden "Who is Barack Obama?" was rendered more comical than spooky. Who is Barack Obama? The guy we’ve been watching over and over and over during the last two years. We’ve seen him. We know him. And we can remind ourselves about him with a quick Google search and a mouse click.

Obama "has shown the same untroubled self-confidence day after day," and "over the past two years, Obama has clearly worn well with voters." Those are the words of David Brooks, who has gotten to know Obama just like the rest of us.

Four years ago, McCain’s Rovian race-based appeals to our darker demons might have worked. This year, they are blowing up in McCain’s face. And in the face of the entire GOP.

Colin Powell’s endorsement of Obama as "a transformational figure" was powerful. But even more powerful was his withering indictment of the state of the Republican Party and the cancer of Rovian politics.

It was similar to the diagnosis of Christopher Buckley following his endorsement of Obama: "To paraphrase a real conservative, Ronald Reagan, I haven’t left the Republican Party. It left me."

There are many other anti-Rove Republicans abandoning their party. I’ve had several Republican friends tell me privately what Powell and Buckley told the world publicly: that they’re voting for Obama. Most of them not because they like Obama, but because they can’t stand what Bush, Rove and now McCain and Palin have done to their party.

Rovian politics may or may not end up destroying the GOP. But, thanks to the Internet, with a bit of luck it will no longer have the power to befoul our democracy.

One thing that Adriana Huffington is exceptionally humble about is, of course, the rise of independent media in North America.  Without the rise of sites like the Huffington post, rabble, The Tyee and others, we’d still be relying on political-profiteering bull crap from CTV, CNN, FOX and the small handful of broadcasters that say they aren’t political and then at the 11th hour, endorse certain Conservative politicians.