Posts Tagged ‘inequality’

A Long Read – The Agony of Global Capitalism


In a thought-provoking article, TeleSUR gives its take on global capitalism. The crises that afflict the Greece, which again goes to the polls in snap elections, and Puerto Rico provide a useful starting point.

The English version, The Agony of Global Capitalism As opener we have,

At least two populations suffered a severe economic crises this year – Greece and Puerto Rico – crises that submitted them to the demands and will of international creditors and resulted in dramatic cuts in social spending, as well as untold suffering in the form of increased unemployment and poverty.

These two places, Greece and Puerto Rico, although separated by more than 8,000 miles, and despite their completely different socio-political, socio-economic, and historical contexts, have in common a subjugation to the global economic system generally and, more specifically, to a major economic power: to the United States and to Germany, respectively.

En español, Capitalismo en agonía Dos párrafos claves, (more…)


FIFA’s challenges, the rich US, and those poor countries


As the US Department of Justice extends its reach as the global enforcer of law, order and justice, the world is not at a loss for expertise and confident solutions that emanate from even US experts who are but passingly familiar with the sport of football.

To make the obvious blatantly obvious: when the US media, almost on cue, can give blanket coverage in a feeding frenzy of demonisation and vilification to a sport it routinely ignores, one does not have to be an expert in reading tea leaves, especially when its Senator McCain launches his own broadside. Something is rotten in the state of, where?

Now, then, to launch into a marine metaphor. A very good swimmer in a pool, indoor or outdoor, can often be at sea in the sea, and less so against an average sea swimmer in the sea. Knowing and understanding one’s environment does make a difference.

For example, a statistician with expertise on the politics or sports in one country can fare well elsewhere – with the requisite knowledge and insights in that new environment. Otherwise, a fool’s errand becomes apparent, and unbecoming. One dares hope that such an ill-considered foray is not born of that sense of exceptionalism. (more…)

Baltimore, social and economic privation – through a glass darkly?


Or just use a clear glass? Or no glass? No CNN. No WaPo. No NYT. In short, no corporate MSM to disguise reality – clean break from unrelenting misinformation and disinformation?

And that is what more and more folk are, and should be doing: avoiding the subtle but deliberate opaqueness, studious avoidance of reality in news coverage by the US corporate MSM. The advent of the blog and alternative media has offered access to the reliable and accurate information and analysis increasingly avoided, ignored by the MSM – coverage of recent events in Baltimore would provide some of the incriminating evidence

Mother Jones (MoJo), as an example of leading alternative media, lacking the massive resources of ‘legacy’ corporate media, has been successful in the quality of its news coverage, as well as research and news analysis, and attracting more readers in the process. Early in the protests in Baltimore it, as lesser ‘known’ media, had zeroed in on issues overlooked, ignored by the US MSM – MoJo did the requisite legwork, not being stenographer for ‘official sources’ and their tailored ‘narrative’.

Well, again comes MoJo with some basics that most econ students would know how to find, and ‘legacy’ media would already have, yet not use – until necessity or embarrassment intrudes. Citing a slew of sources and studies, Edwin Rios and Jaeah Lee of MoJo tell the story with, 7 Charts Explaining Baltimore’s Economic and Racial Struggles. (more…)

Baltimore, MD – Just One of the Many Grim, Social Tragedies in the US


The shame they had hoped would stay hidden. And quiet, docile, they had expected ‘these people’ would remain. Not so.

Grim, fickle fate awaited Freddie Gray of Baltimore, MD, and death was his destiny, shackled and shaken in a police van. And, ironically, for once, a tragedy yields a small success – the collaboration, conspiracy (?) of the authorities and the ‘legacy’ corporate media was exposed, and promptly and summarily discredited. The Washington Post would print the ‘official’ story, and would be immediately ridiculed for its grotesque misinformation. Even a Baltimore TV reporter from a less prestigious TV station, WBAL, would investigate and rebut the paper’s assertions.

And for the US President, not a good week, as, shortly after his star-studded gala event for his White House media, he castigated the ‘thugs’ involved in the protests, none of whom was clearly, could ever be, at the level of his friends, Prof Henry Louis Gates, ‘historian’ to celebrities or Prof Michael Eric Dyson, fumbling and foiled ‘intellectual hitman’ against Cornel West. Then, again, that was the same President who had failed to rise to the stature and authority of many of the leaders (e.g., Correa, Morales, Maduro, Castro) at the VII Summit of the Americas in Panama on 10-11Apr., even if the photo-ops were the desiderata, the sine qua non, of the US media. (Performance, not platitudes, is expected after all that marketing, PR – as Sen Warren or Prof West would show, and without the marketing, the PR.) (more…)