Majorityrights News > Category: Economics & Finance

It’s clear that (((Frame Games))), an (((interloper))) on White advocacy, is playing a (((frame game))) in which he is trying to say that Jewish abuse of “social sciences” (viz., against Whites) is an inherent problem of these disciplines (and the answer is right wing scientism against this social “left”) when in fact the problem is not inherent in these disciplines, the problem is inherent in the Jewish abuse of these disciplines. This disingenuous angle that he is taking in order to encourage right wing reaction and identity among Whites follows my hypothesis of what the YKW are trying to do - make “the left”, i.e. a proper sense of social unionization/organization of non Jewish groups, particularly Whites, against them, into “the problem”, the “enemy” - now that they have hegemony in the 8 power niches:

1) Money 2) Religion 3) Academia 4) Media (mutating into control of internet choke points and additional tech interactive control) 5) Business/international business 6) Politics 7) Law & Courts [* add NGO’s and perhaps military tech and cyberwarfare] adding: 8) Organized Crime.

That is, they don’t want you to do any of that lefty social organizing and unionizing now that they are on top; they don’t want you to realize that that lefty organizing of their group interests was largely how they attained hegemonic power - they want you to believe that lefty organizing is your problem; that they got to where they are through objective right wing merit, through pure objective science - lol.

Anti-Racism is anti-social classification (unionization being one form thereof, ehtno-nationalism another, and these forms can overlap), it is Cartesian, it is not innocent, it is hurting and it is killing people.

It blocks accountability to social historical capital and the social systemic patterns of human ecology.

Right wingers are usually reacting to a system - and people - that they don’t want to be a part of; often quite rightly so.

In the case of Jews, however, their right wing advocacy is motivated by not wanting You goyim to be a part of a coherent, unionized social system.

Nevertheless, Frame Games is assimilating some of the better talking points and concerns of White advocacy; and in his attempt to ingratiate himself to White right wing reaction, he is providing some insights that we can use; such as this horror:

Frame Games: (In the Jewish academic world he came into) “I was encouraged to put the threatening line of inquiry, my love of science and biology aside and to study law instead.

But one of the things that first shocked me on my red pill journey was a class in Constitutional Law. I thought I’d left biology behind…

Then we got to the section on the 1964 Civil Rights Act...

And how THE EQUAL PROTECTION CLAUSE has been re-interpreted away from equal to where any White over representation is considered prima facie evidence of racial discrimination.

A lot of people think of affirmative action being the exception to the equal protection clause…. if you only knew how deep it goes…

Are you guys familiar with “disparate impact”? .....a legal doctrine

“Disparate Impact is probably the most evil and disgusting piece of distoriionary nuclear fall-out in American jurisprudence.

What it says is that:

If there are racially neutral laws on the books or racially neutral practices at any corporation or government agency, if they have the effect of creating disparate impact on different groups - that is, if there are racial differences that emerge even where they are racially neutral by law, by practice, by custom, then it is presumed as prima facie evidence of racial discrimination and allows anybody to launch a civil rights law-suit against you with TREBLE -

A law suit against you with Treble damages - that means three times damages from whatever you suffered.

So, Disparate Impact means that no matter what you do, if you are a company, you are a solo practitioner, if you are a government agency, no matter what you do, if racial differences emerge you are liable unless you can prove, that is, the burden of proof is on you to show that you are PROACTIVELY DISCRIMINATING (for blacks/browns and against Whites, against Asians too, really, as they have to score 400 points higher than blacks on SAT’s to get the same university slots).

This is a common law doctrine.”

He’ll add sanctions as well, which will drive up oil prices to the delight of his Russian colleagues.

“Iran deal: Donald Trump may have put the Middle East on a path to disaster”

ABC, 9 May 2018:

Donald Trump announced US withdrawal from the Iran nuclear deal, imposes sanctions on regime.

Donald Trump’s decision to violate the Iran nuclear deal and reimpose US sanctions will not lead us immediately to disaster. That may come later.

Right now, America is on one side of the argument while its key allies including the UK, Germany and France, stand with Iran. Australia, by the way, also opposed scrapping the deal.

The leaders of the UK, Germany and France, say as a result of the deal “the world is a safer place.” And, while Donald Trump seeks to hurt Iran economically, they are working with Iran to see what they can offer to keep the Iranians in the deal, “including through ensuring the continuing economic benefits to the Iranian people”.

The most immediate effect of the US decision will be the re-imposition of sanctions against Iran’s oil industry and its banking sector which will kick in over several months. The sanctions previously had a crushing effect on Iran’s oil exports and since the nuclear deal was implemented oil exports have more than doubled.

So make no mistake, they will cause a major financial hole which won’t be easy for the Europeans to fill. And, in an increasingly integrated global economy, it’s not easy to remain untouched by US sanctions.
A mini trade war?

Europe’s leaders might convince the US to effectively exempt European companies from the sanctions regime. Or they could pass laws to protect their companies and claw back penalties imposed by the US by imposing tariffs on US goods.

To some, a mini trade war and division among key NATO allies on a crucial global security issue may already count as a disaster. But it could get worse

Ellen Brown on rising interest %

OpEdNews, “Fox in the Hen House: Why Interest Rates Are Rising”, 23 April 2018:

On March 31st the Federal Reserve raised its benchmark interest rate for the sixth time in three years and signaled its intention to raise rates twice more in 2018, aiming for a fed funds target of 3.5% by 2020. LIBOR (the London Interbank Offered Rate) has risen even faster than the fed funds rate, up to 2.3% from just 0.3% 2-1/2 years ago. LIBOR is set in London by private agreement of the biggest banks, and the interest on $3.5 trillion globally is linked to it, including $1.2 trillion in consumer mortgages.

Alarmed commentators warn that global debt levels have reached $233 trillion, more than three times global GDP; and that much of that debt is at variable rates pegged either to the Fed’s interbank lending rate or to LIBOR. Raising rates further could push governments, businesses and homeowners over the edge. In its Global Financial Stability report in April 2017, the International Moneteray Fund warned projected interest rises could throw 22% of US corporations into default.

Then there is the US federal debt, which has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to over $21 trillion in April 2018. Adding to that debt burden, the Fed has announced that it will be dumping its government bonds acquired through quantitative easing at the rate of $600 billion annually. It will sell $2.7 trillion in federal securities at the rate of $50 billion monthly beginning in October. Along with a government budget deficit of $1.2 trillion, that’s nearly $2 trillion in new government debt that will need financing annually.

If the Fed follows through with its plans, projections are that by 2027, US taxpayers will owe $1 trillion annually just in interest on the federal debt. That is enough to fund President Trump’s original trillion dollar infrastructure plan every year. And it is a direct transfer of wealth from the middle class to the wealthy investors holding most of the bonds. Where will this money come from? Even crippling taxes, wholesale privatization of public assets, and elimination of social services will not cover the bill.

With so much at stake, why is the Fed increasing interest rates and adding to government debt levels? Its proffered justifications don’t pass the smell test.

“Faith-Based” Monetary Policy

In setting interest rates, the Fed relies on a policy tool called the “Phillips curve,” which allegedly shows that as the economy nears full employment, prices rise. The presumption is that workers with good job prospects will demand higher wages, driving prices up. But the Phillips curve has proven virtually useless in predicting inflation, according to the Fed’s own data. Former Fed Chairman Janet Yellen has admitted that the data fails to support the thesis, and so has Fed Governor Lael Brainard. Minneapolis Fed President Neel Kashkari calls the continued reliance on the Phillips curve “faith-based” monetary policy. But the Federal Open Market Committee (FOMC), which sets monetary policy, is undeterred.

“Full employment” is considered to be 4.7% unemployment. When unemployment drops below that, alarm bells sound and the Fed marches into action. The official unemployment figure ignores the great mass of discouraged unemployed who are no longer looking for work, and it includes people working part-time or well below capacity. But the Fed follows models and numbers, and as of April 2018, the official unemployment rate had dropped to 4.3%. Based on its Phillips curve projections, the FOMC is therefore taking steps to aggressively tighten the money supply.

The notion that shrinking the money supply will prevent inflation is based on another controversial model, the monetarist dictum that “inflation is always and everywhere a monetary phenomenon”: inflation is always caused by “too much money chasing too few goods.” That can happen, and it is called “demand-pull” inflation. But much more common historically is “cost-push” inflation: prices go up because producers’ costs go up. And a major producer cost is the cost of borrowing money. Merchants and manufacturers must borrow in order to pay wages before their products are sold, to build factories, buy equipment and expand. Rather than lowering price inflation, the predictable result of increased interest rates will be to drive consumer prices up, slowing markets and increasing unemployment—another Great Recession. Increasing interest rates is supposed to cool an “overheated” economy by slowing loan growth, but lending is not growing today. Economist Steve Keen has shown that at about 150% private debt to GDP, countries and their populations do not take on more debt. Rather, they pay down their debts, contracting the money supply; and that is where we are now.

The Fed’s reliance on the Phillips curve does not withstand scrutiny. But rather than abandoning the model, the Fed cites “transitory factors” to explain away inconsistencies in the data. In a December 2017 article in The Hill, Tate Lacey observed that the Fed has been using this excuse ever since 2012, citing one “transitory factor” after another, from temporary movements in oil prices, to declining import prices and dollar strength, to falling energy prices, to changes in wireless plans and prescription drugs. The excuse is wearing thin.

The Fed also claims that the effects of its monetary policies lag behind the reported data, making the current rate hikes necessary to prevent problems in the future. But as Lacey observes, GDP is not a lagging indicator, and it shows that the Fed’s policy is failing. Over the last two years, leading up to and continuing through the Fed’s tightening cycle, nominal GDP growth averaged just over 3%; while in the two prior years, nominal GDP grew at more than 4%. Thus “the most reliable indicator of the stance of monetary policy, nominal GDP, is already showing the contractionary impact of the Fed’s policy decisions,” says Lacey, “signaling that its plan will result in further monetary tightening, or worse, even recession.”

Follow the Money

If the Phillips curve, the inflation rate and loan growth don’t explain the push for higher interest rates, what does? The answer was suggested in an April 12th Bloomberg article by Yalman Onaran, titled “Surging LIBOR, Once a Red Flag, Is Now a Cash Machine for Banks.” He wrote:

“The largest U.S. lenders could each make at least $1 billion in additional pretax profit in 2018 from a jump in the London interbank offered rate for dollars, based on data disclosed by the companies. That’s because customers who take out loans are forced to pay more as Libor rises while the banks’ own cost of credit has mostly held steady.”

During the 2008 crisis, high LIBOR rates meant capital markets were frozen, since the banks’ borrowing rates were too high for them to turn a profit. But US banks are not dependent on the short-term overseas markets the way they were a decade ago. They are funding much of their operations through deposits, and the average rate paid by the largest US banks on their deposits climbed only about 0.1% last year, despite a 0.75% rise in the fed funds rate. Most banks don’t reveal how much of their lending is at variable rates or is indexed to LIBOR, but Oneran comments:

JPMorgan Chase & Co., the biggest U.S. bank, said in its 2017 annual report that $122 billion of wholesale loans were at variable rates. Assuming those were all indexed to Libor, the 1.19 percentage-point increase in the rate in the past year would mean $1.45 billion in additional income.

Raising the fed funds rate can be the same sort of cash cow for US banks. According to a December 2016 Wall Street Journal article titled “Banks’ Interest-Rate Dreams Coming True”:

“While struggling with ultralow interest rates, major banks have also been publishing regular updates on how well they would do if interest rates suddenly surged upward… Bank of America ... says a 1-percentage-point rise in short-term rates would add $3.29 billion. . . . [A] back-of-the-envelope calculation suggests an incremental $2.9 billion of extra pretax income in 2017, or 11.5% of the bank’s expected 2016 pretax profit ...”

As observed in an April 12 article on Seeking Alpha:

“About half of mortgages are ... adjusting rate mortgages [ARMs] with trigger points that allow for automatic rate increases, often at much more than the official rate rise. ...

“One can see why the financial sector is keen for rate rises as they have mined the economy with exploding rate loans and need the consumer to get caught in the minefield.

“Even a modest rise in interest rates will send large flows of money to the banking sector. This will be cost-push inflationary as finance is a part of almost everything we do, and the cost of business and living will rise because of it for no gain.”

Cost-push inflation will drive up the Consumer Price Index, ostensibly justifying further increases in the interest rate, in a self-fulfilling prophecy in which the FOMC will say, “We tried—we just couldn’t keep up with the CPI.”

A Closer Look at the FOMC

The FOMC is composed of the Federal Reserve’s seven-member Board of Governors, the president of the New York Fed, and four presidents from the other 11 Federal Reserve Banks on a rotating basis. All 12 Federal Reserve Banks are corporations, the stock of which is 100% owned by the banks in their districts; and New York is the district of Wall Street. The Board of Governors currently has four vacancies, leaving the member banks in majority control of the FOMC. Wall Street calls the shots; and Wall Street stands to make a bundle off rising interest rates.

The Federal Reserve calls itself “independent,” but it is independent only of government. It marches to the drums of the banks that are its private owners. To prevent another Great Recession or Great Depression, Congress needs to amend the Federal Reserve Act, nationalize the Fed, and turn it into a public utility, one that is responsive to the needs of the public and the economy.

This article was originally published on Truthdig.com

Gary Cohn invited to leave and be replaced by dumber paleocon.

Unite the Right to Wedge-out Paleo-Cohn

Unite the Right Charlottesville was a successful neo-con, neo-liberal operation forcing a wedge against Gary Cohn’s clever paleoconservative positioning - Trump’s tariffs on Asian raw materials was the last straw.

While I have been able to see a trap for White Nationalism in forced identity with the right generally, I could also see clearly and specifically that “Unite the Right” was a trap maneuvered by YKW and neoliberal lackey’s to force vocal and visible stigmatic association.

It was unbelievable to me that “Alt-Righters” would agree to participate in such a tactlessly forecast high profile event with some of the more traditional stigmatic right wing groupings, and thereby undo a few of the things that the Alt-Right actually had going for it - to distance itself from association with historical stigma and to be only loosely affiliated, un-united enough so as to be too hard to pin down - thus, not allowing the enemies of White Nationalism to easily categorize them negatively in association with anti-social positions; to allow populist audiences to dismiss them offhand in one fall swoop with a singular negative category - and beyond casual dismissal as non-serious, to frighten populist audiences into outright opposition for observable potential in nefarious, unaccountable religious, scientistic and neo-Nazi association and intent.

However, Kumiko has penetrated this to a more perspicuous theoretical overview.

Behind “Unite The Right” and its confrontation by “Anti-Fa” was an orchestrated wedge issue, encouragement of Trump to take a neutral stance toward “the Nazis” and “The Alt-Left, who were ‘to blame, too’, blame and good people on all sides.”

Kudlow was born and raised in New Jersey, the son of Ruth (née Grodnick) and Irving Howard Kudlow. His family is Jewish. He once served as chief economist at the investment firm Bear Sterns before he was fired in 1995 when he entered rehab to treat a hundred thousand dollar a month cocaine habit. Kudlow has repeatedly failed to forecast economic trends. In December of 2007 as the sub prime mortgage market began to unravel, leading to the deepest recession since the 30’s, Kudlow wrote, there’s no recession coming, the ‘pessimistas” were wrong… it’s not going to happen. The Bush boom is alive and well. It’s finishing up it’s sixth consecutive year with more to come.

Neocons and their Neo Liberal corporatist sellout allies would have been opposed to Gary Cohn and any efforts to hold their businesses in The U.S. against their profits, and to prevent a more thorough YKW and corporatist, feudalist exploitation of Asia; as opposed to sovereign industrial development by Asian corporations in Asia.

Trump’s conciliatory stance toward “Nazis” was encouraged by Mnuchin to drive a wedge against Cohn, who’d find that intolerable; with that be driven off by the internationalist left, recognizing a paleocon U.S. protectionist all too competent to run a neo feudalist operation against Asian labor.

Cohn hung-on in the Trump administration in hopes of being appointed Federal Reserve Chairman. That didn’t happen and the final nail in the coffin of his strategy happened when Trump proposed tariffs on raw materials of steel and iron from Asia - if you’re looking to exploit Asian labor as a feudalist, you don’t want to force them to grapple into lateral transmission (sovereignty), forcing them to develop industry and capacity to machinate their own raw materials.

Cohn was “too competent” in his capacity to run a feudalist international operation; and had to make way for a less competent and more compliant paleocon bracket, viz. Larry Kudlow - having cut his teeth under President Reagan, a protege of Frank Meyer’s paleocon movement.

”Tillerson’s Sacking Will Shock America and the World - but Delight Israel.” ...“Mike Pompeo’s impending move to secretary of state is sure to result in a much more hawkish and confrontational U.S. policy towards Iran.”

To complete the Zionist, neo-fuedalist enterprise, Trump also needed to get Tillerson’s obstruction out of the way, defensive as Tillerson was of the Iran deal (which liberalizes Iran as opposed to yielding to Islamic reactionary/ Abrahamic comprador control); he had to make way for the administration’s more ardent Zionist imperialist agenda - to undo the Iran deal is far more ably pursued with anti-Iranian hawk, Pompeo.

Finally toward that end, look to the possibility of the partly Jewish John Bolton to be placed in charge of the National Security Council - a historically instrumental position for those looking to initiate wars from The U.S. platform. Bolton is notoriously war mongering toward Iran and he is among the few people to be interviewed and seriously considered by Trump to a position to wield decisions over the matter.

..with tags on the video…

Ignore the “Lucifarian” and “Creepy” tags that the Jews have added to this otherwise factually neutral discussion with Rothschild about the Balfour Declaration and his family’s involvement.

These tags were added to right-wingize the video and with that to divert with over-focus on Rothschild conspiracy - so that old man Rothschild can be used as a fall-guy as the YKW do with old man Soros.

It’s possibly the most famous document in modern Jewish history and it begins with three words…

I genuinely think that it’s one of the most extraordinary moments in the history of the Jewish people. When you think that it took 3,000 years to get to this. Then you say, how did this ‘miracle’ happen?

READ MORE...

Haaretz, “Tillerson’s Sacking Will Shock America and the World - but Delight Israel”, 13 Mar 2018:

The secretary of state’s cardinal sin was that he didn’t kowtow to Trump to the degree that the president craves and requires.

Israel and its right wing American supporters will rejoice in the unceremonious sacking of Secretary of State Tillerson and his replacement with CIA Director Mike Pompeo.

“The president is moving toward withdraw from the Iran deal, and I believe he will now have a secretary of state who will support him,” Fred Fleitz, senior vice president for policy and programs at the Center for Security Policy, told FOX.”

Haaretz, “‘I Got #Tillersoned’ Becomes Viral Meme”, 13 Mar 2018:

U.S. President Trump fired U.S. Secretary of State Rex Tillerson Tuesday, saying the two had a “different mindset” on key issues and “we disagreed on things” including the international nuclear accord with Iran.

A statement by Tillerson aid Steve Goldstein led reporters to believe Tillerson found out he had been fired over Twitter - the platform Trump made the announcement on.

Goldstein was promptly fired by the White house and conflicting reports claim that Tillerson was informed ahead of the announcement.

“I got #Tillersoned” became a viral meme as Twitter users shared bad breakup stories and joked about the abrupt manner in which Tillerson was fired.

Trump fired Tillerson less than 24 hours after the Secretary fingered Russia in a murder attempt by means of chemical weapons deployment in Salisbury, England. which afflicted more than 20 people.

READ MORE...

In West Virginia, teachers ended their historic strike after state officials agreed to raise the pay of all state workers 5%.

“Who made history? We made history! Who made history? We made history!”...a group of West Virginia teachers chanted.

The strike began on February 22nd and shut-down every public school in the state. It was the longest teachers strike in West Virginia history.

Majorityrights readers should observe that this is a group of White people, albeit implicit, unionized against the state/ goverment. The implications of the model demonstrate possibilities for “White community” organizing against state and other elite position oppression of group interest.

Apologies again for the anti-White source. Note that I will use them when I see news sources that are both pro-White and are not duped into being “anti-left”, against its concepts such as unionization to fight oppressive government policies and other elite position exploitation; when I see them, I will use those other sources. Until then, we have to make use of feedback from sources like Democracy Now, picking out the bits and pieces that we need - note that you can scarcely see a non-White teacher in this story, and that West Virginia is one of the Whitest states in America.