Surviving Capitalism (Not) : Recommended articles for 12/30/2017

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Saturday, December 30, 2017

Recommended articles for 12/30/2017

Russian military advisors work with all Syrian army units — Russian General Staff from TASS, a Russian News Agency.

I learned about this report by way of an article from a Kuwaiti independent journalist posted on his website. I'm not sure one can draw all the implications he does from this TASS announcement, but it is very much worth our attention.

The Next Financial Crisis Will Be Worse Than the Last One by Nomi Prins from TruthDig.

She takes a gander (def.) at the huge run-up of corporate debts, tax cuts for the rich, and continuing low-interest money available to corporations, and reaches the following conclusion:

What does that mean? Financially speaking, 2018 will be a precarious year of more bubbles inflated by cheap money, followed by a leakage that will begin with the bond or debt markets. The GOP tax cuts won’t technically kick in monetarily for corporations until after the year is over in 2019, but the anticipation of extra funds will fuel more buybacks. This will help to provide cover for any rate hikes the Fed implements, because it provides corporations the ability to boost their own share prices further.

Meanwhile, the Treasury Department, Federal Reserve and other smaller regulatory authorities in Washington will push for greater deregulation of the financial systems and banking industry on any level possible. If there is another financial crisis in 2018 or later, it will be worse than the last one because the system remains fundamentally unreformed, banks remain too big to fail and the Fed and other central banks continue to control the flow of funds to these banks (and through to the markets) by maintaining a cheap cost of funds.

Venezuela after the municipal elections by Jorge Martin from Defense of Marxism (Britain).

I agree totally with his analysis of the Venezuelan political scene. I observed first hand the bureaucratic resistance to any leftward course of the Bolivarian Revolution that I drew attention to in previous posts. See here and here.