Plutocracy

America's False Recovery on JSU Today, with Dr. Timothy Barnett (Video)

Dr. Tim Barnett discussed his book, "America's False Recovery" as the "Person of the Week" on JSU Today. This short video provides a good overview to the contents of the book and a great opportunity to see Dr. Barnett discuss the material.

New Book Predicts U.S. Sovereign Debt Crisis No Later Than 2020

America's False Recovery: Available for purchase now!

Political Economist Dr. Timothy Barnett has just released his latest book: America's False Recovery. The book details the reasons that apparent signs of “recovery” in the United States are unsustainable, and provides specific details that explain how America will face a crippling sovereign debt crisis no later than the year 2020. Dr. Barnett goes on to show how this loss of sovereignty will lead to a democratic plutocracy, where America is ultimately ruled by its creditors.

Conservatives Misunderstand Occupy Wall Street

Many conservative writers and speakers are categorizing the Occupy Wall Street movement into a right vs. left, liberal vs. conservative issue. For example, Aaron Biebert at the 8pmwarrior.com writes in an open letter to the #ows protestors:

Reform Exposes Illegitimacy of Wall Street Profits

No.: 
81

The emerging bank reform legislation might be viewed in a singularly positive light if the reforms were not the byproduct of a skewed capital system that made several million Americans undeservedly powerful and rich while Congress slept. One could feel downright hopeful about the future of American banking if moral hazard had not contaminated the land. But too much polluted water has gone under the bridge. The good in the reforms is counteracted by the poisons that produced the need for remedial interventions.

The Limitations of Democracy and Expertise

No.: 
76

So-called “experts” have led us into modern era minefields. If experts are ruining the world, to whom do we turn? Plutocrats? Special interests and their politicians? The uneducated masses? Organized religion run amuck? Ancient philosophers? Or something else? It’s time for America and the world to get serious about the foundations of good governance. Change is coming like a locomotive.

Would Super Rich Impress America's Founders?

No.: 
74

David Weidner provides a valuable public service in his insightful fictional account of Warren Buffett’s creeping (moral) blindness. Making billions — tick, tick, tick — by sleeping with the enemy is no American ideal. Seeking to prosper justly in ways constructive to the nation’s sustainable well-being and economic independence is a laudable ideal — an ideal that Buffett, perhaps, is forgetting as he tries to explain away some of Wall Street’s sins.

Reasons for Optimism in the Long Haul

No.: 
66

Has America lost its soul? Is America too immoral and shortsighted to allow prudent capitalism to work properly? (Yes.) Is the Canadian hedge fund manager, Erick Sprott correct that the U.S. government is now a “dead man walking,” with central bank intervention the main dynamic that allows the U.S. Treasury to roll over government debt at low interest rates? (Marketwatch, Oct. 20, 2009).

Asset Inflation as Economic Stimulus: The Fed Strategy

No.: 
50

All right, not everything in today’s Farrell commentary is erudite or even proportional. Nevertheless, he does make some valuable points. It is apparent that America is setting up various disgruntled interests in the world to make war with us. The U.S. decision to monetize debts in the face of a deepening recession is problematic. Quantitative easing (as it is called) will expose our international friends, competitors and enemies to economic complications as our U.S.

Rewarding Irresponsibility: The Fall of Financial Integrity

No.: 
44

Who, if anyone, is surprised that Mr. Stanford’s chapter unfolds in Madoff-ite fashion, politics and all? Who, if anyone, does not expect bailouts and partisan subsidies to continue, with justice thrown to the wind as evidenced in the expanding mortgage subsidy affair?

Aesop Revisited: Unsustainable Spending Does Not Equal Freedom

No.: 
39

The American economy could operate more safely by looking to the essentials in Aesop’s Fables than by following Irwin Kellner. Mr. Kellner’s spending advice might pump up the stock market for a short time — long enough to allow elites to dump unwanted holdings at better prices — but would serve to weaken the U.S. relative to other nations like China. Furthermore, added borrowing will increase the national calamity once there is insufficient demand for Treasuries to support the public debt.

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