Bilderberg Conference Convenes

by Stephen Lendman

Heery Kravis, head of KKR, an "equity acquisition firm," and king of the LBO game. Few can represent the capitalist disease as well as Kravis.

Heery Kravis, head of KKR, an “equity acquisition firm,” and king of the LBO game. Few represent the capitalist disease as well as Kravis.

On June 5, the London Evening Standard headlined “No minutes, no press conferences – just the world’s power brokers chewing the fat on the issues of the day. It’s the Bilderberg conference – and it’s coming to a suburb near you.”

 

On June 6, it convened. It continues through June 9. It’s a rite of spring. A previous article said British political economist Will Hutton calls attendees the “high priests of globalization.”  Powerful movers and shakers have their own agenda. They’re up to no good. They meet annually face-to-face. They conspire, collude and collaborate against populist interests. Their’s alone matter.

According to Bilderberg Meetings.org:

“Founded in 1954, Bilderberg is an annual conference designed to foster dialogue between Europe and North America.”

“Every year, between 120 -150 political leaders and experts from industry, finance, academia and the media are invited to take part in the conference.”

“About two thirds of the participants come from Europe and the rest from North America; one third from politics and government and the rest from other fields.”

“The conference is a forum for informal, off-the-record discussions about megatrends and the major issues facing the world.”

“Thanks to the private nature of the conference, the participants are not bound by the conventions of office or by pre-agreed positions.”

“As such, they can take time to listen, reflect and gather insights. There is no detailed agenda, no resolutions are proposed, no votes are taken, and no policy statements are issued.”

“The 61st Bilderberg meeting will take place at the beginning of June 2013 in the UK.”

Earlier articles discussed their agenda. Their ideal world isn’t fit to live in. Democracy is verboten. They want one world government. They want unchallenged global dominance.  Their wish list includes universal rules they set, centralized global control, perpetual crises and wars, NATO operating worldwide, abolishing the middle class, establishing ruler-serf societies, and having unchallenged wealth and power in their hands.

They want what they say goes enforced as policy. Obedient serfs can expect subsistence crumbs at best. Non-believers will be eliminated. New world order priorities alone matter.

Bilderberg’s Steering Committee includes a dozen prominent Americans. David Rockefeller’s called an Advisory Group member. It’s uncertain if he’s attending. A published list excludes his name. He’s called the master spider for good reason. He’s been dominant for decades. On June 12, he turns 98. He’s fading. Who’ll replace him isn’t clear.

In her book “Web of Debt,” Ellen Brown quoted economist/geopolitical analyst Hans Schicht saying:

“What has been good for Rockefeller, has been a curse for the United States. Its citizens, government and country indebted to the hilt, enslaved to his banks.”

“The country’s industrial force lost to overseas in consequence of strong dollar policies (pursued for bankers not the country.”

Rockefeller’s no longer the force he once was. “(S)ixty years of dollar imperialism (is ending). The day of financial reckoning is not far off any longer.”

“With Rockefeller’s strong hand losing its grip and the old established order fading, the world has entered a most dangerous transition period, where anything could happen.”

Bilderberg rogues plan a world unfit to live in. They may end up destroying it in the process. It’s hard imagining a more malevolent force. US members reflect the worst of what it stands for. More on some prominent ones attending below.

They’re meeting at Britain’s five-star Grove Hotel. It’s 18 miles from London. It’s ideal for secluded meetings. While ongoing, police state security’s enforced.  Operations go on round-the-clock. Area residents have to show police passports, drivers licenses, or other accepted photo IDs to go home, to work, or attend to other personal business.

Civil liberties are suspended. De facto martial law’s in force. What Bilderberg rogues want they get. They want the worst of all possible worlds spread globally.

Prominent American attendees in alphabetical order include:

Roger Altman:

He’s a former Lehman Brothers partner. He left before its dissolution. Perhaps he helped push it over the edge. He was Clinton’s Deputy Treasury Secretary. He’s a Bilderberg Steering Committee member.

He’s founder and executive chairman of Evercore Partners. It’s a prominent predatory investment banking advisory firm. It specializes in mergers, acquisition, divestitures, restructurings, financings and other strategic transactions.

It operates the old-fashioned way. It recommends leveraged buyouts, asset-stripping targeted companies, and leaving thousands of employees high and dry on their own.

Jeff Bezos:

He’s Amazon’s founder and CEO. It’s the world’s largest online retailer. Earlier he worked on Wall Street and for a New York-based hedge fund. In March 2013, Forbes estimated his net worth at $25.2 billion.

Martin Feldstein:

He’s Harvard University Professor of Economics. From 1982 – 1984, he was Reagan’s Council of Economic Advisors chairman and chief economic advisor. He’s National Bureau of Economic Research (NBER) president emeritus. It’s an elitist organization.

Many of its members have been conservative Nobel economics laureates. Others served as White House chairmen of the Council of Economic Advisors.  It’s well known for announcing when recessions begin and end. It does so inaccurately. It ignores an ongoing protracted Main Street Depression.

In 2006, Feldstein was on Bush’s Foreign Intelligence Advisory Board. In 2009, he served Obama in a likewise capacity.  His other affiliations include the Council on Foreign Relations, Trilateral Commission, and American Enterprise Group among others. He been a board member of several major corporations.

Timothy Geithner:

A previous article discussed his legacy of shame. His rap sheet includes various Treasury posts, IMF Policy Development and Review director, New York Fed president, vice chairman of the Fed’s Open Market Committee (FOMC), and Obama’s Treasury Secretary.

He partnered with former Treasury Secretary Hank Paulson and Fed chairman Ben Bernanke. They planned the grandest of grand thefts. They implemented banker bailouts.

They looted the federal treasury. They stuck taxpayers with the bill. They debased the currency. They transformed America into an unprecedented money making racket.

He and other Bilderberg rogues want spread globally what they did to America. They conspired with their EU partners doing the same thing to Western Europe.

They bear full responsibility for today’s global economic crisis. They planned it for greater wealth and power control.

Donald Graham:

He’s Washington Post Company chairman and CEO. His holdings include TV stations, municipal cable systems, and Kaplan, Inc. It provides higher education testing, training, and professional courses. It’s ethically and legally challenged.

It specializes in ripping off students. It does so for profit. It features scams and other fraudulent schemes. It sacrifices education for bottom line priorities.

It’s faced numerous lawsuits. In 2007, a class-action one on overcharging was settled. It shows no signs of changing its ways. Doing business the old fashioned way matters most.

Robert D. Kaplan

His articles are featured in numerous scoundrel media publications. Defense Secretary Robert Gates appointed him to the Defense Policy Board. Bill Clinton and George W. Bush reportedly sought his counsel.

In 2011, Foreign Policy magazine called him one of the world’s “top global thinkers.” He’s Stratfor Global Intelligence chief geopolitical analyst. According to Professor Daniel Drezner:

“What Kaplan and George Friedman share is a sense of geographical determinism that allows them to claim predictive powers.”

They and likeminded ideologues advance amoral national interest priorities. Resource control weighs heavily.

Professor Robert Farley added:

“Kaplan’s talent is to tell the powerful what they want to hear with the veneer of both theoretical insight and empirical knowledge, while possessing neither.”

His book “Balkan Ghosts” allegedly influenced Clinton’s thinking on Serbia, Bosnia and Kosovo. Its dark side analysis characterized Yugoslav people as primitive and violent.

He calls Iran a potential regional hegemon. He says “Iranians do respond to pressure, but it has to be extreme.”

At an earlier Davos World Economic Forum meeting, Stratfor’s George Friedman addressed Iran saying, “There is a solution to (weapons) proliferation, and this is bombing them.” Perhaps Kaplan’s view is likeminded.

Henry Kissinger:

Previous articles discussed him. He was an early architect of new world order harshness.

He’s a notorious war criminal. His rap sheet includes three to four million Southeast Asian war deaths.

He was instrumental in overthrowing Chile’s democratic government. Augusto Pinochet replaced Salvador Allende. Reign of terror arrests, killings, torture and neoliberal harshness followed.

He backed Suharto’s brutal dictatorship. His Kopassus special forces terrorized Indonesians. Their record includes kidnappings, rape, torture, targeted killings, sweeping violence, mass murder, and other atrocities against anyone challenging his authority.

He supported his West Papua takeover. He OK’d his East Timor invasion. Over two hundred thousand East Timorese died. Around half a million more were displaced.

In two months, 10% of the population was annihilated. It was prelude for what followed.

Kissinger supported the Khmer Rouge’s rise to power and reign of terror. He encouraged a Kurdish revolt against Saddam Hussein. He then abandoned them. He advised Bush and Cheney on Iraq policy.

He backed a 1974 Cypriot fascist coup. He defended Turkey’s brutal invasion. He was complicit in Operation Condor. Pinochet and other Latin American despots reigned terror against alleged communists and political opponents. Tens of thousands perished.

He supported Pakistan’s “delicacy and tact” in overthrowing Bangladesh’s democratically elected government. Half a million deaths followed.

In 1974, his secret National Security Study Memorandum 200 (NSSM 200) called for drastic global depopulation. Developing nations are resource rich, he said. They’re vital to US growth. He wanted useless eaters eliminated. He said “Depopulation should be the highest priority of US foreign policy towards the Third World.”

He supported involuntary mass sterilizations. He wanted birth control made a prerequisite for US aid. He wanted hundreds of millions eliminated by 2000.

He endorsed the worst of Israeli crimes. He deplores peace. He supports war and state terror. He symbolizes the worst of imperial lawlessness.

Henry Kravis:

He’s co-chairman and co-CEO of Kohlberg Kravis Roberts & Co. (KKR). It calls itself  “a leading global investment firm with deep roots in private equity, diversified capabilities, decades of financial and operational experience, broad industry knowledge, and a powerful network of global relationships.”

It specializes in leveraged buyouts. It asset-strips companies for profit. It dumps thousands of employees doing so. It makes money the old fashioned way. Bottom line ones alone matter.

Forbes estimates his net worth at $4.5 billion. Balzac once said behind every great fortune lies a great crime.

Jessica T. Mathews:

She’s a Bilderberg Steering Committee member. She’s Carnegie Endowment for International Peace president. From 1977 – 1979, she was National Security Council Office of Global Issues director. She held various other executive and legislative government posts. From 1980 – 1982, she was a Washington Post editorial board member.

Her husband is retired four-star Air Force General Charles G. Boyd. He’s a Council on Foreign Relations program director. He’s Business Executives for National Security president. He’s a prominent Project on National Security Reform member.

Richard Perle:

He’s a Bilderberg Steering Committee member. He’s known as “the prince of darkness.” He’s a prominent uberhawk. He favors conflict over diplomacy. He served as Reagan’s Assistant Secretary of Defense and Global Strategic Affairs. He was GW Bush’s Defense Policy Board Advisory Committee chairman.

He’s associated with the Project for the New American Century and American Enterprise Institute. Both organizations figured prominently in post-9/11 wars.

His other affiliations include the Hudson Institute, pro-Israeli front group Washington Institute for Near East Affairs (WINEP), the Jewish Institute for National Security Affairs (JINSA), and Center for Security Policy among others.

David Petraeus

He gained prominence as US Central Command head, International Security Assistance Force commander, and CIA director. Defrocking followed Petraeusgate.  A previous article said forget resignation over extramarital sex. Lots of elected and appointed Washington officials had affairs. Many likely have current ones. Numerous former presidents had them. Defrocking never forced any from office.

Competence didn’t earn Petraeus four stars. Former peers accused him of brown-nosing his way to the top. It made him a brand as much as general.

Talk earlier surfaced about his presidential aspirations. In 2007, Time magazine made him runner-up Person of the Year.

White House and media spin praised his stellar performance. Before he fell from grace, he was called aggressive in nature, an innovative thinker on counterinsurgency warfare, a talisman, a white knight, a do-or-die competitive legend, and a man able to turn defeat into victory.

His former commander, Admiral William Fallon, called him “a piece of brown-nosing chicken shit.”

He’s more myth than man. His failures were called successes. His career advanced by being super-hawkish, brown-nosing the right superiors, lying to Congress, surviving the scorn of some peers, hiding his failures, hyping a fake Iranian threat, supporting Israel, unjustifiably claiming Iraq success, and boasting how he’d do it throughout the region.

He manufactured successes. He concealed failures. He’s out of the public spotlight but not gone.

In March 2013, he became honorary Office of Strategic Services (OSS) chairman. It was the CIA’ s predecessor organization.

He’s also a City University of New York visiting professor. In May, UCLA named him Judge Widney Professor. He’s Currahee Board of Trustees president. KKR named him KKR Global Institute chairman.

Robert Rubin:

He formerly chaired Goldman Sachs and Citigroup. He served as Clinton’s Assistant to the President for Economic Policy, National Economic Council head and Treasury Secretary.  Time magazine once called him, Fed Chairman Alan Greenspan, and Deputy Treasury Secretary Larry Summers “The Committee to Save the World.”

They did more wrecking than saving. They helped get Glass-Steagall repealed. They influenced Commodities Futures Modernization Act  (CFMA) passage.   It legitimized swap agreements and other hybrid instruments. They’re at the core of major financial problems. It prevented regulatory oversight of derivatives and leveraging. CFMA and Glass-Steagall’s repeal made Wall Street a casino operating on only the house wins rules.

CFMA legitimized derivatives scams. Enron took full advantage. It fleeced investors and energy purchasers with impunity. It did so until its house of cards collapsed.  At the time, Alan Greenspan endorsed derivatives. He lied calling them a way to share risks. They turned an economic downturn into a protracted Main Street Depression.

Clinton/Rubin/Summers/Greenspan/Bernanke/Paulson/Geithner, and other co-conspirators engineered it.

Eric Schmidt:

He’s Google executive chairman. Forbes estimates his net worth at $7.5 billion. He’s a regular Bilderberg attendee. A previous article discussed his close Bilderberg ties.

Infowars reporters Paul Joseph Watson and Jon Scobie said Google’s “merging” with Bilderberg.

It’s “being recast as ‘Google-Berg’ – partly because of efforts on behalf of activists to tear away the veil of Bilderberg’s much cherished secrecy, and partly as a means of re-branding authoritarian, undemocratic secret gatherings of elites as trendy, liberal, feel-good philanthropic-style forums like Google Zeitgeist and TED.”

Schmidt thinks “privacy is a relic of the past.” He “plans to turn Google into the ultimate Big Brother.”

He and Bilderberg members share common aims. In part, they reflect a “collectivist, permanently networked world (without) individuality and privacy.” They’re partnering for greater global control. Doing so makes Bilderberg’s ideal world unfit to live in.

James Wolfensohn:

He’s Australian born. He became a naturalized US citizen. From 1995 – 2005, he was World Bank president. Along with the IMF and other major international lending agencies, it debt entraps nations.

It wages financial war on humanity. It mandates structural adjustment harshness.

It prioritizes privatization of state enterprises, mass layoffs, deregulation, deep social spending cuts, wage freezes or cuts, corporate-friendly tax cuts, unrestricted Western corporate market access, trade unionism crushed or marginalized, and stiff repression targeting non-believers.

In 2005, Wolfsensohn founded Wolfensohn & Company. It’s a global emerging markets private equity firm. It advises governments and large corporations doing business in emerging market economies.

Since 2006, Wolfensohn’s also been Citigroup International Advisory Board chairman.  In 2009, he became a China Investment Corporation International Advisory Council member. In October 2010, he regained his Australian citizenship.

Robert Zoellick:

He’s a prominent neocon. He was a Project for a New American Century member. He advocated post-9/11 wars. Paul Wolfowitz succeeded Wolfensohn as World Bank president. Zoellick succeeded him. He served from 2007 to 2012.

He formerly was a Goldman Sachs managing director, as well as Deputy Secretary of State and US Trade Representative under GW Bush.

Under Reagan, he held various Treasury positions. He was Counselor to James Baker, Executive Secretary of the Department, and Deputy Assistant Secretary for Financial Institutions Policy.

He was GHW Bush’s Under Secretary of State for Economic and Agricultural Affairs. He also served as Department Counselor.

In 1991 and 1992, he was Bush’s G7 summit representative. He 1992, he served as White House deputy chief of staff.

From 1993 – 1997, he was Fannie Mae executive vice president. He bears much responsibility for helping to inflate the housing bubble. During George Bush’s 2000 presidential campaign, he was one among other self-styled “vulcans.” Others included Condoleezza Rice, Paul Wolfowitz, Richard Armitage, Richard Perle, Stephen Hadley, Scooter Libby, and Dov Zakheim.  The term alludes to the Roman god of fire and metalworking.

Zoellick’s other past and present affiliations include Enron’s advisory board, Alliance Capital, Said Holdings, the Council on Foreign Relations, the Aspen Institute’s Strategy Group, former Defense Secretary William Cohen’s Defense Policy Board, and the Center for Strategic and International Studies among others.

Other notable Bilderberg attendees include IMF head Christine Lagarde, European President Jose Manuel Barroso, former appointed Italian Prime Minister Mario (three-card) Monti, Britain’s Chancellor of the Exchequer George Osborne, Goldman Sachs International chairman Peter Sutherland, as well as numerous other politicians, corporate bosses, investment firm heads, journalist insiders and others.

They comprise a virtual rogues gallery of scoundrels. An official list excludes likely figures kept private. Rumor suggests Obama and Britain’s David Cameron may attend. Perhaps we’ll know more later on.

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net.  His new book is titled “Banker Occupation: Waging Financial War on Humanity.” 

http://www.claritypress.com/LendmanII.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 Fridays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening. http://www.progressiveradionetwork.com/the-progressive-news-hour




Syrian opposition launch rocket attacks in Lebanon

By Thomas Gaist, wsws.org

Hezbollah fighters on parade.

Hezbollah fighters on parade.

Fighting raged in Lebanon on Sunday between Hezbollah militants and US-backed Syrian rebels, with at least 12 killed. According to a Lebanese security official, the clashes broke out as Syrian opposition elements prepared to launch rocket attacks against the city of Baalbek, in north-east Lebanon. These clashes near Baalbek come as another indication that the war is spreading beyond Syria’s borders.

 

Eighteen rockets and mortars fell on Lebanese soil on Saturday, and the Shi’ite shrine of Sayida Khawla came under attack from gunmen around 2:30am Sunday morning. Additionally, three Syrian rockets struck the Lebanese city of Hermel, a Hezbollah stronghold, on Sunday morning.

According to the Daily Star, the Free Syrian Army has claimed responsibility for the attacks, saying they were launched in response to Hezbollah support for Assad.

Hezbollah is moving aggressively into Syria, helping deal serious defeats to the US-backed opposition. It now poised to take strategic towns in the north, operating in coordination with Syrian army forces. Hezbollah’s leadership has expressed confidence of achieving more victories against the opposition.

Media reports describe thousands of Hezbollah fighters massing in Aleppo province, where they have taken up positions in Shia majority towns north of Aleppo city. “The Aleppo battle has started on a very small scale; we’ve only just entered the game,” said a Hezbollah commander, fresh from fighting in the southern Syrian city of Qusair. “We are going to go after strongholds where they think they are safe. They are going to fall like dominoes.”

[table id=1 /]

Hezbollah Secretary General Hassan Nasrallah has pledged his full support to the Assad regime, promising “victory” in Syria to his supporters during a speech commemorating the 13th anniversary of Israel’s withdrawal from Lebanon.

“We will continue to the end of the road, we accept this responsibility and will accept all sacrifices and expected consequences of this position,” he declared.

US-backed opposition forces have met with serious defeats in recent months. As the Assad government continues a sustained offensive against rebel positions in the strategic border town of Qusair, with the support of fresh forces from Hezbollah, the rebels appear incapable of mounting a serious counter-offensive, let alone defeating the regime.

Yusuf al-Qaradawi, a Qatari Sunni TV host with millions of views, issued a call for blood against Assad and Hezbollah on Friday, referring to the Shiite Hezbollah as “the party of the devil.” He declared that “Everyone who has the ability and has training to kill” must travel to Lebanon and Syria to support the Sunni forces.

In addition to defeats on the battlefield, the opposition faces an internal crisis. On Monday, a faction within the opposition’s National Coalition, the Syrian Revolution General Commission, withdrew its support, declaring that the leadership has “taken initiatives far removed from the true revolution.” The SRGC is a secular element of the Syrian opposition, with ties to Western imperialist forces such as the German Left Party. It has demanded that Western air power mount operations to impose a no-fly zone inside Syria.

It has also collaborated in arming Islamist militias fighting the Assad regime since 2011. Yesterday, however, it accused foreign powers of “manipulating” the war, declaring: “Each of these countries puts their blocs up against the others, and these blocs act in line with agendas foreign to the revolution.”

The imperialist intervention in Syria is at the center of a plan for restructuring the entire region, for isolating Syria’s main ally, Iran, and eliminating Hezbollah, aiming to neutralize opposition to the US and Israel from other Middle East states. Fundamental commercial and strategic interests are at stake. Having insisted that Assad must go, and thus far failed to achieve this goal through a proxy war, Washington is now debating how it will escalate its intervention to support the opposition.

Increasingly, the US and its European allies are considering a direct attack on Syria using their own military forces as a serious option.

Officials announced Monday that Patriot missile batteries deployed to Jordan along with F-16 for the “Eager Lion” war games will remain there indefinitely. Senator John McCain, a leading proponent of expanded military intervention in Syria, told the Jordan Times that the deployment of the Patriot systems would mark a “first step” toward the carving out of a “safe zone” for rebel operations in Syria. At least 200 US troops are also being deployed to Jordan.

Israeli war planes conducted maneuvers in Lebanese airspace over the weekend. The Israelis have launched three airstrikes on Syria already, and in 2006 they destroyed much of Beirut. They are now preparing for a full scale assault on their regional adversaries, in coordination with the US.

Calls for direct imperialist intervention are emanating with increasing force from the ruling elite. Speaking on “Face the Nation,” Senator McCain asked: “Remember all this talk we’ve heard for the last year or two—it’s inevitable that Bashar Assad will fall?” Following up, he concluded, “Well, I think we can’t make that statement today.”

“Hezbollah has now invaded, the Iranians are there, Russia is pouring weapons in, and anybody that believes that Bashar Assad is going to go to a conference in Geneva when he’s prevailing on the battlefield, it’s just ludicrous,” McCain said.

Tensions continue to mount between the US and Russia over the Syrian war in the run-up to international talks in Geneva. Secretary of State John Kerry and German Foreign Minister Guido Westerwelle issued a combined warning to Russia on Friday, claiming that the planned transfer of S-300 anti-aircraft missile systems to the Syrian government threatened to disrupt peace talks.

Thomas Gaist is a political analyst with the wsws.org, a socialist information resource. 




Chronicles of Inequality TOO MUCH [June 3, 2013]

Too Much June 3, 2013
THIS WEEK
Last week brought disturbing new stats on our unequal times, and we have them all in this week’s Too Much. Last week, on the cheerier side, also brought insightful new commentaries from three of our era’s top inequality analysts.You’ll find all three pieces below in our New Wisdom on Wealth sidebar. And the three certainly do have fresh new wisdom to offer. David Cay Johnson, for instance, helps us see how low taxes on high incomes give our CEOs an ongoing incentive to line their own pockets “at the expense of the enterprises they run.”Chuck Collins, for his part, helps us understand another hidden impact of our top-heavy world, the phenomenon sociologists call the “intergenerational transmission of advantage.” Collins walks us through the games the wealthy play to boost their children’s prospects — at the expense of everyone else’s.Chrystia Freeland, the last of our trio, riffs off recent sexist gabbing by billionaire Paul Tudor Jones to reflect upon our gender and income divides. The more our income gaps widen, Freeland notes, the greater “the social and political sway of those at the very, very top.” Societies that let the rich sway away, she reminds us, invite pathologies we’re only now beginning to understand. About Too Much,
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GREED AT A GLANCE
Top U.S. corporate executives are, at last count, averaging 354 times more pay per year than average American workers. These CEOs compete in the same global markets as Norwegian CEOs. How much do big-time CEOs in Norway make? Norwegian CEOs, calculates Norway’s largest daily, average 16 times what their workers earn. Some do make more — and get plenty of grief for making it. Headlines in Norway have recently been bashing Helge Lund, the top exec at Norway’s largest oil company. He’s pulling in $2.4 million a year. That sum strikes Norwegians as outrageous. Lund no doubt considers himself a bargain. Chevron CEO John Watson is pulling in 10 times his compensation . . .Lloyd BlankfeinNo banker in North America, Bloomberg Markets Magazinereported last week, took home more in 2012 than the $26 million that went to Lloyd Blankfein, the CEO of Wall Street giant Goldman Sachs. Blankfein guided Goldman to $7.5 billion in profits last year. Along the way he guided 900 Goldman employees into unemployment. The shedding of bank jobs, industry-wide, has continued on into 2013. In this year’s first quarter, America’s six largest banks announced 21,000 layoffs. But banks aren’t just rewarding execs like Lloyd Blankfein for cutting jobs. They’re hiring like crazy at the executive level. The resulting “competition for business leadership” has headhunter firms doing a bang-up business. At the executive search firm Heidrick & Struggles, revenues from New York bank clients have jumped 25 percent . . .In the race for global supremacy in dissolute extravagance, the Mediterranean deep-pocket playground of Monaco has now trumped the desert oasis of Las Vegas. Both cities have exclusive night clubs that have been offering up — for a mere $500,000 — a nine-bottle “Dynastie Collection” set of Armand de Brignac champagne. Late last month, at Monaco’s “Billionaire Club,” British financial adviser Charles Shaker became the first club patron anywhere in the world to shell out for the nine-bottle collection. The club crowd, one party-goer later told reporters, “went crazy,” with everyone “trying to take pictures, cheering and clapping.” Another “Dynastie Collection” set remains on sale — and unsold — at Hakkasan Las Vegas, a “nightlife mecca” at the MGM Grand Hotel and Casino. Quote of the Week“In most recessions, societies become more equal. Unemployment may rise and wages stagnate. But the gap between the top and the rest narrows as those with the most to lose lose the most. In our time, the gap is widening, and I am tired of hearing lectures on how we can do nothing about it from supporters of the status quo, who have been wrong about everything for years.”
Nick CohenThe Observer,June 1, 2013
PETULANT PLUTOCRAT OF THE WEEK
Stephen FincherTennessee voters elected Stephen Fincher to Congress in 2010 as a Tea Party Republican, and Fincher, a heavyweight in agribusiness, has not disappointed the small-government crowd. Washington, he told a Memphis audience last month,has gone “out of control,” making moves “to steal money” from some to “give it to others.” Fincher has been especially vocal in this year’s food stamp budget debates. He wants two million poor families cut off from food stamp benefits. But Fincher’s commitment to “small government” doesn’t apparently extend up the income ladder. Between 1999 and 2012, the Environmental Working Group reports, Fincher personally collected $3.48 million in federal farm subsidies. Like Too Much?
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IMAGES OF INEQUALITY
Monaco Grand PrixThe world’s glitterati descended on Monaco at the end of May for the annual auto Grand Prix race. The engines won’t start roaring again until next May. By that time, realtors hope to have sold the five-floor penthouse now under construction in Monaco’s newest high-rise tower. The expected sale price: $386 million.  

Web Gem

Genuine Progress/ How do we measure progress in a way that takes inequality into account?

PROGRESS AND PROMISE
In New York, a New Lid on Contractor PayNew York governor Andrew Cuomo can’t seem to figure out whether he wants to wink at inequality or fight it. He’s just proposed an ill-advised initiative that wouldflood the state with special zones that exempt corporate execs from sales, property, and income taxes. On the more sensible side: Starting this July 1 New York will be limiting annual CEO pay at nonprofit and for-profit service providers that collect at least 30 percent of their revenues from state tax dollars. Execs at these providers won’t be allowed to grab over $199,000 a year. The loophole: Agencies can use revenue from non-taxpayer sources to boost pay over $200,000. But they first have to file a waiver to gain approval. CEO paychecks at taxpayer-subsidized service providers in New York have in recent years run as high as $3 million. Corporate pay consultants, predictably, are kvetching over the precedent the governor’s porous but still promising pay cap sets. Take Action
on InequalityHelp bring the film version ofThe Spirit Level, this century’s most important book on inequality, to a theater near you. For starters, watch the film’s just-released two-minute trailer.
INEQUALITY BY THE NUMBERS
Global wealth Stat of the Week

Households holding over $1 million worth of stocks, bonds, and other financial assets make up just 0.9 percent of global households,computes the latest annual Boston Consulting Group wealth report.

IN FOCUS
Let’s Talk Taxes, Let’s Talk TrillionsAmerica’s deepest pockets, a new report shows, are saving big bucks from the U.S. tax code’s wide assortment of income tax breaks. They’re saving even more from the absence of a wealth tax.A hundred years ago, in 1913, Congress wrote into law a federal income tax. Lawmakers have been dotting the tax code, almost ever since, with an assortment of “never-minds” that hand most of us, at one time or another, discounts at tax time.These discounts can come in handy. If you buy a home, you get to deduct off your taxes the mortgage interest you pay. If you’re raising a family, you get to claim tax credit for your children. If you retire, you can exclude Social Security income from taxes.

And if you make a killing trading on the stock market, you only have to pay taxes on your windfall at half the normal tax rate.

How much do all these deductions, credits, exclusions, and preferential tax rates cost the federal treasury? Representative Chris Van Hollen, a lawmaker from Maryland, wanted to know. He asked the nonpartisan Congressional Budget Office to calculate exactly how much “tax expenditures” — the wonky label in Washington for tax never-minds — were actually costing.

Van Hollen also asked the CBO to calculate which American taxpayers, by income level, were benefiting the most from these tax expenditures.

Last week, the CBO reported back — with some big numbers: The top 10 special tax breaks in the federal tax code will cost the federal government $900 billion in 2013 and $12 trillion over the next decade.

And most of the benefits from all these trillions in tax savings, the CBO found, are cascading down to America’s most comfortable.

If tax expenditures operated on a totally neutral basis, America’s most affluent 1 percent would be receiving just 1 percent of the taxpayer savings that tax expenditures generate. In fact, the CBO calculates, the top 1 percent of U.S. taxpayers are receiving 17 percent of tax expenditure benefits.

Project these numbers over a decade, and the tax savings for America’s most affluent really start to add up. Over the next ten years, if current law remains in effect, tax expenditures will pour $3.6 trillion into the pockets of America’s top 5 percent of income earners — and $1.9 trillion into the pockets of America’s top 1 percent, households that make over $450,000.

But the enormity of these trillions only hints at how light a tax burden rests on our rich, suggests another new study released last week, the annual global wealth survey from researchers at the Boston Consulting Group.

Just under 5 percent of America’s households, says this new study, now hold at least $1 million each in financial wealth, assets like stocks and other securities, the dollars in savings and checking accounts, and the like.

In 2012, the total net worth of these top 5 percent households pumped up America’s total financial wealth to $39 trillion, a total a trillion dollars higher than the combined financial wealth of Japan, China, and Germany, the world’s next three richest nations.

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America’s wealthiest households pay no annual federal taxes on any of these trillions. Why? The United States has no annual federal tax onfinancial wealth.

We do, on the other hand, have a tax on property wealth. This property tax — a state and local government levy — essentially amounts to a tax on America’s middle class. That’s because residential property makes up the bulk of American middle class wealth — 66 percent, on average, the latest Fed figures show.

For households in America’s richest 1 percent, by contrast, home sweet home accounts for only 9.4 percent of household net worth.

In other words, in America today, we tax the wealth of the middle class on an annual basis. We essentially give the wealth of the wealthy a free pass.

Other nations do tax the wealth of the rich. One of these nations, France, has just upped the rates on its “wealth tax.” French households with over $21.5 million in wealth are now paying this wealth tax at nearly a 2 percent annual rate.

How much would an annual 2 percent wealth tax raise from America’s millionaire households? Research from the Deloitte Center for Financial Services can help us here. Deloitte researchers have calculated that American millionaire households in 2011 held $38.6 trillion in total, not just financial, net worth.

In 2020, Deloitte estimates, U.S. households worth at least $1 million will hold $87.1 trillion in wealth, over five times the size of that year’s entire estimated federal debt. A 2 percent annual tax on this $87.1 trillion would raise over $1.7 trillion. Some perspective: In 2020, the Congressional Budget Office estimates, the personal income tax bill for all Americans will total $2.16 trillion.

The new CBO numbers on tax expenditures, says Representative Chris Van Hollen from Maryland, show clearly that current federal income tax deductions, credits, exclusions, and preferences skew “disproportionately to the highest 1 percent of income earners.”

America’s absence of any national annual tax on the wealth of our wealthy skews this lopsided, top-tilting tax picture a good bit more.

New Wisdom
on WealthChuck Collins, The Wealthy Kids Are All RightAmerican Prospect, May 28, 2013. In a tough economy with dwindling social supports, children of privilege have a huge head start.Chrystia Freeland, Sexist Mores of Super-Rich Hurt Us AllReuters, May 30, 2013. Some deeper reflections on the latest controversy around hedge fund billionaire Paul Tudor Jones.

David Cay Johnston,Inequality Rising — All Thanks To Government PoliciesNational Memo, May 31, 2013. How U.S. tax, union bargaining, inheritance, and other rules widen the growing divide between those at the top and everyone else.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Rich Don’t Always Win: The Forgotten Triumph over Plutocracy that Created the American Middle Class cover

Learn more about this new history of America’s first triumph over plutocracy.

NEW AND NOTABLE
Behind All Our Global Immigration DebatesBranko MilanovicBranko Milanovic, Global Income Inequality by the Numbers: In History and Now: An Overview, New Economic Thinking and Columbia University, February 2013.Location, location, location. That’s all that matters, goes the old real estate agent bromide. That goes double, says economist Branko Milanovic, for understanding global economic inequality.Milanovic, the lead research economist at the World Bank, prepared this analysis for a conference on global income inequality held this past winter. The journal Global Policy will shortly be publishing an updated version, and the wider circulation of this new version will almost certainly recharge the debate over how we address our globe’s staggering economic inequality.

The bottom line as Milanovic sees it: What part of the world your birth places you in matters much more to your economic status than ever before. Asks Milanovic: “Is citizenship — belonging to a given country, most often through birth — something that gives us by itself the right to greater income?”

Rich countries are so far answering with a resounding “yes.” The amount of aid the world’s wealthy nations currently lay out for development assistance, Milanovic points out, comes to not much over $100 billion a year, “just five times more than the bonus Goldman Sachs paid itself during one crisis year.”

If global economic elites continue to allow location to drive global economic inequality, Milanovic concludes, the tensions that mass global migrations create will only escalate enormously over coming decades.

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Lifting the Fake EU Arms Embargo

by Stephen Lendman

RTR's Popva: Her evidence doesn't count.

RTR’s Popova: Her evidence absolving Assad doesn’t count.

Infowars headlined “British Special Forces Enter Syria to Aid Rebels,” saying:

They’re “directing rebel fighters in a repeat of how Libyan rebels were aided” to oust Gaddafi. Qatari special forces are also involved. Very likely others are.

“Al-Qaeda-affiliated terrorists who fought US troops in Iraq and helped NATO powers overthrow (Gaddafi) were airlifted into Syria (to) topple (Assad) in November last year.”

More come in regularly. They supplement existing ranks or replace elements Syria’s military eliminated. No end of conflict looms.

Appalling atrocities are committed. Assad’s wrongfully blamed for foreign death squad crimes. He’s falsely accused of using chemical weapons. On May 28, Reuters headlined “Syria fighting rages, more chemical attacks reported,” saying:

“(F)urther reports surfaced of chemical weapons attacks by (Assad’s) forces on rebel areas.” These allegations and previous ones are spurious. On May 24, Voice of Russia headlined “Russian journalists have proof Syrian insurgents used chemical weapons,” saying:

They have video proof. They gave it to the UN Secretariat. They show “chemical weapons attacks allegedly committed by opposition fighters in the vicinity of Aleppo on March 19.”

“This was confirmed by the spokesman for the Deputy Secretary General Farhan Haq.”

RTR journalist Anastasia Popova confirmed toxic substances use. Eyewitness accounts supplemented video evidence. Nonetheless, spurious anti-Assad accusations persist.  On May 27, the UN News Centre headlined “UN rights chief urges end to ‘intolerable’ suffering in Syria.”

Navi Pillay addressed the 23rd Human Rights Council session. She stopped short of pointing fingers the right way. She consistently blames Assad for Western-backed death squad crimes.

“A humanitarian, political and social disaster is already upon us,” she said, “and what looms is truly a nightmare…Civilians bear the brunt of this crisis in which human rights violations have reached horrific dimensions.  Confronted with the flagrant disregard of international law and human life on every side, I feel utter dismay. I am extremely concerned at current reports suggesting that hundreds of civilians have been killed or injured, and thousands may remain trapped, by indiscriminate shelling and aerial attacks by Government forces in Al Qusayr.”

She admitted that anti-government forces also commit human rights violations. She consistently blames Assad most of all. She avoids explaining Washington’s war on Syria. She’s a reliable imperial tool. She’s been so in previous capacities. She suppresses truth. The responsible major powers are absolved.

Victims are blamed for their crimes. She did it before. She’s doing it now. She aids and abets lawless aggression. She facilitates human rights abuses in the process.  On May 27, the Human Rights Council (HRC) convened its 23rd session. President Remigiusz Henczel addressed a days earlier request to debate deteriorating conditions in Syria.

Qatar claimed Syrian forces were massacring their people. A May 16 Financial Times report headlined “Qatar bankrolls Syrian revolt with cash and arms.”

“(I)t “spent as much as $3bn over the past two years supporting the rebellion in Syria, far exceeding any other government, but is now being nudged aside by Saudi Arabia as the prime source of arms to rebels.”

Washington orchestrates everything. Turkey’s its main attack dog. CIA elements operate in its territory near Syria. They facilitate cross-border weapons shipments.  Syria’s representative addressed the HRC session. He objected to debate on his country. Turkey and Qatar requested it.

He said they’re directly responsible for what’s going on. They’re encouraging terrorist attacks on Syrian soil. They’re arming and training insurgent elements.  UK Foreign Secretary William Hague called ending the so-called arms embargo the right decision. He led efforts to do so. He suggested Britain would go it alone otherwise.

He claimed ending the embargo “is part of supporting the diplomatic work to bring about the political solution.” It’s “necessary and right,” he said. Doing so will “protect civilians,” he added. Tory MP John Baron disagreed, saying:

“It beggars belief, the idea that pouring more arms into this conflict could not or would not escalate the violence. Of course, its not going to do that. But it could do something more dangerous. That is it could escalate the conflict beyond Syria’s borders. That is why it could be a mistake of historic proportions.”

Oxfam’s Anna Macdonald said supplying more weapons “add(s) fuel to the fire. We are concerned that supplying arms to the opposition won’t level the playing field. In fact, it will fuel a deadly arms race that will have even worse consequences for civilians.”

“The millions of people suffering in Syria right now don’t need more arms. They need aid.”

Shadow foreign secretary Douglas Alexander asked “how does supplying weapons help to secure a lasting peace?”

Supplying them in greater numbers assures more death and destruction. Doing so complies with Washington’s longstanding agenda.  The road to Tehran runs through Damascus. Replacing independent governments with pro-Western ones is prioritized.  Twenty-one EU nations are NATO members. It’s an alliance for war, not peace. It’s for offense, not defense. It’s a killing machine. America runs it.

Britain, France, Germany and other EU nations partner in its imperial wars. Doing so ravages one country after another.  Last October, Nobel Committee members awarded EU nations their Peace Prize. They claimed doing so reflected their decades long contribution “to the advancement of peace and reconciliation, democracy and human rights in Europe.”

They ignored their role in Eurasian conflicts and beyond. They turned a blind eye to NATO’s global ambitions. It’s part of Washington’s full spectrum dominance agenda.  It’s potentially catastrophic if not stopped. It assures greater wars on humanity. Global war is possible. Washington controls NATO policy. Its so-called Partnership for Peace is a thinly veiled pro-war agenda.

War is peace reflects longstanding US policy. Syria’s conflict potentially could spin out of control. The entire region and beyond could become embroiled.  During last year’s pre-election campaign, Republicans stressed “American exceptionalism.” Democrats countered saying:

“We also understand the indispensable role that the United States must continue to play in promoting international peace and prosperity.”

In 1996, Clinton aide Sidney Blumenthal coined the term “indispensable nation.” Clinton used it as justification for NATO’s Bosnia intervention. In several speeches, Obama stressed American exceptionalism and the term indispensable nation. Most others disagree. They do so for good reason.  America prioritizes war, not peace. Permanent war is longstanding policy. One country after another is ravaged. Millions perish. Millions more remain vulnerable.

Where this ends who knows. Humanity may not survive the onslaught.

ABOUT THE AUTHOR

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net. His new book is titled “Banker Occupation: Waging Financial War on Humanity.”

http://www.claritypress.com/LendmanII.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 Fridays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.  http://www.progressiveradionetwork.com/the-progressive-news-hour




How Medea Benjamin got to heckle Obama

How Medea Benjamin got to heckle Obama

By Rachel Weiner, Published: May 24, 2013 

Madea Benjmain heckling President Obama. (Carolyn Kaster/AP)

Madea Benjamin before she was escorted out of Obama’s speech. (Carolyn Kaster/AP)

How did Code Pink founder Medea Benjamin, a well-known anti-war protester, get into President Obama’s speech Thursday at the National Defense University?

By listing herself as press. In a statement, the university explained that Benjamin “was given access via the list of media attendees expected.”

After repeatedly interrupting Obama’s speech on counterterrorism policy, Benjamin was escorted out of the room and questioned by police.

Benjamin told the Huffington Post Thursday that she got an invitation to the event from someone whose name she could not disclose and was surprised herself that she was able to get in so easily.

The speech was not open to the general public. “Attendance for non-media was limited to invited guests from the National Defense University faculty, staff, and student body,
along with those invited by the White House,” the university said.