No Associated Press content was harmed in the writing of this post
Another busy week of killing in Somalia:
- US terror drones kill 42 more in Somalia
- US terror drones kill 13 in south Somalia
- US terror drones kill 35 more in Somalia
- US drone strike kills 17 in Somalia
Combat operations have concluded for:
- Army Spc. Sean M. Walsh, 21, of San Jose, CA.
- Army Pfc. Matthew C. Colin, 22, of Navarre, FL.
- Army Spc. James R. Burnett Jr., 21, of Wichita, KS.
- Army Spc. David E. Hickman, 23, of Greensboro, NC.
- Army Spc. Calvin M. Pereda, 21, of Fayetteville, NC.
- Army Sgt. 1st Class Johnathan B. McCain, 38, of Apache Junction, AZ.
- Army Pfc. Theodore B. Rushing, 25, of Longwood, FL.
Days since Washington Post has updated its Faces of the Fallen site: 0.
US drone crashes in central Somalia. Here is your updated drone crash scorecard:
- US drone crashes in central Somalia
- 2 US terror drones crash in Somalia
- Two US drones crash in south Somalia
- Two US drones crash in south Somalia
- Three US drones crash in Somalia
- US drone goes down in Afghanistan
- Another US drone crashes in Pakistan
- US drone crashes in Pakistan
- US spy drone crashes in Afghanistan
The Kuala Lumpur War Crimes Tribunal, an initiative by Malaysia’s former Premier Mahathir Mohamad, has begun hearings against George W. Bush and Tony Blair.
There was a pretty graphic display of police brutality at UC Davis on Friday. Video here. Chancellor’s absurd response here, and because the response is on an institutional and not a personal site I’ve copied and pasted it below. Call for resignation from a faculty member here. Includes this: “The fact is: the administration of UC campuses systematically uses police brutality to terrorize students and faculty, to crush political dissent on our campuses, and to suppress free speech and peaceful assembly.”
So I guess rescuing the auto industry might have been a good idea after all: “The numbers were likely buoyed by busy production lines at General Motors’ plants in Lordstown and new steel jobs in Lorain and Youngstown”
Bank of America is trying out this response to the 99% movement. Good luck with that!
Protesters occupy vacant building, police respond with assault rifles:
Members of the Occupy movement had marching from the Carrboro Anarchist Bookfair to enter and occupy the 10,000 square foot building, the former University Chrysler-Plymouth dealership at 419 W. Franklin St., on Saturday afternoon. Banners reading “Occupy Everything” and “Capitalism left this building for dead, we brought it back to life” were displayed in the windows and roof.
Indian writer Arundhati Roy:
Well, I think, you know, when - I was never one of those people who was, you know, throwing my hat in the air when he won, even though - even though the memory of, you know, old black people, you know, feeling so happy to have a black man in the White House was something you just couldn’t ignore. But to see how he has - I mean, it’s almost reprehensible. You see - what has he done? He’s expanded the war in Afghanistan into Pakistan. Those drone attacks are killing people every day. You know, it’s - I don’t think he has any idea what he’s doing in that subcontinent. You know, no idea whatsoever. It is just devolving into a completely unmanageable, horrendous situation.
In America now, I just feel - I just feel a bit upset every time I hear that smooth, silver-tongued, you know, kind of delivery, which actually means nothing most of the time. And so, if - I keep thinking that if George Bush had done what Obama does, everybody would be saying he’s a fascist, you know, but we really step back and make so much space for what’s going on here, that - you know, it’s an old dilemma, of course, that somebody can do by day what the other person does at night. And, you know, people are so caught up in this view that the only choice you have is between the Democrats and the Republicans or between the Congress and the BJP. Our imaginations have been locked into this kind of electoral politics, so we feel like we have to say nice things about him. But I don’t feel like saying nice things about him.
First President Bush, and then President Obama, tried to reconstruct an economic system based on a corrupted transmission mechanism from the Fed to the real economy. This was the financial crisis, it’s why abstract derivatives based on subprime mortgages knocked trillions of productive output off of the economy. Corruption is really inefficient.
The New York Post, proud American flagship of the international criminal enterprise run by an Aussie T&A merchant, simply resorted to the time-honored device that, around the bar at the National Press Club, we like to call making shit up. This was picked up by various boxes of rocks all over the AM dial and in the crayola precincts of the Intertoobz and among paranoid nitwits everywhere.
In response, of course, the mainstream media chewed its cud judiciously on the sidelines, so that people wouldn’t yell at them on the radio. Here’s The New York Times, writing in fluent oatmeal, using the passive voice like a lullaby.No tents were touched until 1:45 a.m., the police said, giving the protesters time to gather their belongings. Other teams of officers were seen gathering on the perimeter to move in if arrests were needed in the park.How nice of them to be so thoughtful. Really. Shame they had to run all the reporters out before they began.
David Brooks: “What’s disheartening is how bad they are at thinking and talking about moral issues.” The same piece notes an “atmosphere of extreme moral individualism.” So naturally his response to the systemic coverup of child rape at Penn State is ennui and a resigned sigh. Who can say, who can say?
The politicians who do the bidding of the Big Club think they’re part of it. They get invited to conclaves given by the Koch brothers and they receive the largesse that the Big Club gives them and they think that when the middle class has been successfully destroyed, they’ll be on that Big Boat with the Big Club, swilling Dom Perignon from the cleavage of hookers. They don’t realize that they’ll be left behind too.Applies to those below the executive level at right wing outlets too.
ECONNED EXCERPT from pp. 203-4:
Orthodox economics is peculiarly silent on the subject of banking and finance. Neoclassical models do not even assume the existence of money; they simply postulate a barter system. Macroeconomics, the study of the operation of the economy as a whole, has a similar blind spot here. As Rob Parenteau, research associate with the Levy Economics Institute at Bard College, noted:General equilibrium theory, the intellectual pinnacle of the profession, has no room for money. Real business cycle theory has no room for finance - negative shocks to productivity, virtually from out of the blue, are the stated source of recessions. The Taylor rule, which ostensibly guides central bank policy rate setting, has an interest rate but no room for either money or finance, unless it it packed away in the error terms of the canonical equations. Recently, the Henry Kaufman Professor of Financial Institutions at Columbia University and his co-authors concluded the US housing bubble had little effect on consumer spending patterns. Huh?Yet credit is the lifeblood of a modern economy. Credit brings with it its own peril, namely, financial instability. That comes to pass in two ways.
The first is simply that banks are in the business of borrowing money from people and lending it to other people, who might not give it back. Banks hold deposits and pay interest on them. Depositors have the right to demand their funds at any time, but through experience, banks know that only a small percent of the funds they hold in trust will be withdrawn on any given day, and even that might be matched or exceeded by new inflows. Thus banks, to earn additional profit, lend out a portion of their deposits, typically $9 out of every $10, at a higher interest rate than they pay to depositors.
Now banks allow for dud borrowers; the interest they charge is in part to compensate for the defaults. But almost predictably, some banks miscalculate and incur large enough losses to put deposits at risk. Even if the bank turns out to be solvent (that is, its loans are worth at least as much as its deposits), its customers may not know that for certain. They hear of trouble and start to pull their funds out. That in turn produces what is called a bank run, or liquidity crisis. Even if a bank has a sound book of loans, it only has $1 on hand for every $10 of deposits; it can’t convert those loaned back into cash on short notice. If enough customers want their money back, the bank cannot perform and must turn them away.
To UC Davis Campus Community:(back)
I am writing to tell you about events that occurred Friday afternoon at UC Davis relating to a group of protestors who chose to set up an encampment on the quad Thursday as part of a week of peaceful demonstrations on our campus that coincided with many other occupy movements at universities throughout the country.
The group did not respond to requests from administration and campus police to comply with campus rules that exist to protect the health and safety of our campus community. The group was informed in writing this morning that the encampment violated regulations designed to protect the health and safety of students, staff and faculty. The group was further informed that if they did not dismantle the encampment, it would have to be removed.
Following our requests, several of the group chose to dismantle their tents this afternoon and we are grateful for their actions. However a number of protestors refused our warning, offering us no option but to ask the police to assist in their removal. We are saddened to report that during this activity, 10 protestors were arrested and pepper spray was used. We will be reviewing the details of the incident.
We appreciate and strongly defend the rights of all our students, faculty and staff to robust and respectful dialogue as a fundamental tenet of our great academic institution. At the same time, we have a responsibility to our entire campus community, including the parents who have entrusted their students to us, to ensure that all can live, learn and work in a safe and secure environment. We were aware that some of those involved in the recent demonstrations on campus were not members of the UC Davis community and this required us to be even more vigilant about the safety of our students, faculty and staff. We take this responsibility very seriously.
While we have appreciated the peaceful and respectful tone of the demonstrations during the week, the encampment raised serious health and safety concerns, and the resources required to supervise this encampment could not be sustained, especially in these very tight economic times when our resources must support our core academic mission.
We deeply regret that many of the protestors today chose not to work with our campus staff and police to remove the encampment as requested. We are even more saddened by the events that subsequently transpired to facilitate their removal.
We appreciate the substantive dialogue the students have begun here on campus as part of this week’s activities, and we want to offer appropriate opportunities to express opinions, advance the discussion and suggest solutions as part of the time-honored university tradition. We invite our entire campus community to consider the topics related to the occupy movement you would like to discuss and we pledge to work with you to develop a series of discussion forums throughout our campus.
I ask all members of the campus community for their support in ensuring a safe environment for all members of our campus community. We hope you will actively support us in accomplishing this objective.