An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, October 20, 2018
David Stockman - Genocidal’ Saudi Arabia Is ‘Our Worst Ally in a Bad Neighborhood’
In my opinion, this is essential viewing. David Stockman, a former budget advisor to President Reagan, might not be MMT kosher, but listen to what he says about Saudi Arabia and their war on Yemen.
“Our interests are not propping up this horrible Saudi monarchy that we’ve been propping up for decades. The place is now being run by a hot-headed 33-year-old thug who’s literally murderous.”
If we do anything to change this situation, will it cause oil process to spike?
“The world market sets the price of oil. It doesn’t matter what Saudi Arabia does. We don’t need to prop them up. They’re not our best ally in a bad neighborhood; they’re our worst ally in a bad neighborhood. They’re a source of more terrorism and jihadism and Wahabi-ism in the Middle East than anyone else. They are committing genocide. During the last three years in Yemen they have killed 10,000 civilians for no reason, many of them women and children. Yemen is a poor and backward country. They can’t hurt Saudi Arabia.”
If we do anything to change this situation, will it cause instability in the stock market?
“This current market is so ridiculously overvalued that it’s looking for a windshield to splatter on, and if the windshield is Saudi Arabia, then so be it. The Fed has created so much liquidity that the market isn’t honest anymore. It’s just a casino. A gambling joint. This market is premised on low interest rates.”
Some readers may have heard about the “caravan” of 4,000 Honduran refugees that walked across Guatemala in an effort to enter Mexico. Trump is furious, saying that if any of the Honduran refugees try to enter the USA, he will use the military to “close the border” with Mexico.
I mention this because there are many videos on the Internet showing he situation at the Mexico-Guatemala border.
What’s up with this? Why can’t Central Americans get their countries in order?
Answer: Because Washington won’t let them. Whenever a national government in Central America tries to improve things, the USA sends in the troops, or the proxy troops, and supports a neoliberal coup.
Total idiots (e.g. Franko) refuse to understand this, but refugees are driven northward by neoliberalism, which Trump supports.
In Jan 2006, Manuel Zelaya was elected president of Honduras. Zelaya had been a neoliberal elitist, but when he entered office he changed. He started making reforms to help average Hondurans. He stopped mass privatization. Finally the neoliberal oligarchs in Honduras moved to get rid of Zelaya via a military coup (28 June 2009) with the blessing of Hillary Clinton and the CIA. (I myself was in Mexico at the time.)
After the coup, public institutions (health, education, etc.) in Honduras were immediately privatized (handed to the rich). So were all public utilities. What few job protections that existed were eliminated. Poverty and homicide became more extreme than ever.
In 2013 the oligarchs used massive electoral fraud to install Juan Orlando Hernández as president. Hernández further accelerated the neoliberal assault.
For the rich, Honduras became a neoliberal paradise. For everyone else, the Honduran nightmare became worse than ever.
In 2017 Hernández re-elected himself, even though Honduras’ constitution allows a person to serve only one term as president. This “election” involved greater fraud than ever -- all of it with Washington’s blessing.
Hernández’ opponent the second time around was Alejandro Nasralla, whose parents were Palestinian. (Nasralla’s mother was born in Chile, which has half a million Palestinians.)
Nasralla won by a landslide, but since he was not a neoliberal, his landslide win was declared invalid. Juan Orlando Hernández was "re-elected" and became a military dictator (with massive help from Washington).
Also, keep in mind that Honduras crawls with Israelis. They and the USA were not about to let a Palestinian be elected.
Now there are no jobs in Honduras. Most of the country is ruled by violent gangs that extort “rent” from ordinary people. Honduras is unlivable. Most of the population (9 million) is desperate to get out. The migrants that are trying to get into Mexico say they just want to work.
Trump’s face has changed from orange to red as he vows to not let any Hondurans into the USA. (Actually the refugees are nowhere near the US border).
European imperialism has caused Europe’s immigration crisis.
U.S. imperialism has caused a refugee crisis from Latin America. It started in 1995 with the neoliberal NAFTA agreement. Before that, there was no refugee crisis at all.
“might not be MMT kosher, ”
ReplyDeleteMight not????
Kaivey,
ReplyDeleteCan you maybe dredge up some Jim Rogers videos? Maybe some Marc Farber? Schiff???
What about the whole Peterson crew don’t forget too....
Good stuff.
ReplyDelete“Our interests are not propping up this horrible Saudi monarchy that we’ve been propping up for decades. The place is now being run by a hot-headed 33-year-old thug who’s literally murderous.”
If we do anything to change this situation, will it cause oil process to spike?
“The world market sets the price of oil. It doesn’t matter what Saudi Arabia does. We don’t need to prop them up. They’re not our best ally in a bad neighborhood; they’re our worst ally in a bad neighborhood. They’re a source of more terrorism and jihadism and Wahabi-ism in the Middle East than anyone else. They are committing genocide. During the last three years in Yemen they have killed 10,000 civilians for no reason, many of them women and children. Yemen is a poor and backward country. They can’t hurt Saudi Arabia.”
If we do anything to change this situation, will it cause instability in the stock market?
“This current market is so ridiculously overvalued that it’s looking for a windshield to splatter on, and if the windshield is Saudi Arabia, then so be it. The Fed has created so much liquidity that the market isn’t honest anymore. It’s just a casino. A gambling joint. This market is premised on low interest rates.”
.
ReplyDelete--OFF TOPIC--
Some readers may have heard about the “caravan” of 4,000 Honduran refugees that walked across Guatemala in an effort to enter Mexico. Trump is furious, saying that if any of the Honduran refugees try to enter the USA, he will use the military to “close the border” with Mexico.
I mention this because there are many videos on the Internet showing he situation at the Mexico-Guatemala border.
What’s up with this? Why can’t Central Americans get their countries in order?
Answer: Because Washington won’t let them. Whenever a national government in Central America tries to improve things, the USA sends in the troops, or the proxy troops, and supports a neoliberal coup.
Total idiots (e.g. Franko) refuse to understand this, but refugees are driven northward by neoliberalism, which Trump supports.
In Jan 2006, Manuel Zelaya was elected president of Honduras. Zelaya had been a neoliberal elitist, but when he entered office he changed. He started making reforms to help average Hondurans. He stopped mass privatization. Finally the neoliberal oligarchs in Honduras moved to get rid of Zelaya via a military coup (28 June 2009) with the blessing of Hillary Clinton and the CIA. (I myself was in Mexico at the time.)
After the coup, public institutions (health, education, etc.) in Honduras were immediately privatized (handed to the rich). So were all public utilities. What few job protections that existed were eliminated. Poverty and homicide became more extreme than ever.
In 2013 the oligarchs used massive electoral fraud to install Juan Orlando Hernández as president. Hernández further accelerated the neoliberal assault.
For the rich, Honduras became a neoliberal paradise. For everyone else, the Honduran nightmare became worse than ever.
In 2017 Hernández re-elected himself, even though Honduras’ constitution allows a person to serve only one term as president. This “election” involved greater fraud than ever -- all of it with Washington’s blessing.
Hernández’ opponent the second time around was Alejandro Nasralla, whose parents were Palestinian. (Nasralla’s mother was born in Chile, which has half a million Palestinians.)
Nasralla won by a landslide, but since he was not a neoliberal, his landslide win was declared invalid. Juan Orlando Hernández was "re-elected" and became a military dictator (with massive help from Washington).
Also, keep in mind that Honduras crawls with Israelis. They and the USA were not about to let a Palestinian be elected.
Now there are no jobs in Honduras. Most of the country is ruled by violent gangs that extort “rent” from ordinary people. Honduras is unlivable. Most of the population (9 million) is desperate to get out. The migrants that are trying to get into Mexico say they just want to work.
Trump’s face has changed from orange to red as he vows to not let any Hondurans into the USA. (Actually the refugees are nowhere near the US border).
European imperialism has caused Europe’s immigration crisis.
U.S. imperialism has caused a refugee crisis from Latin America. It started in 1995 with the neoliberal NAFTA agreement. Before that, there was no refugee crisis at all.
“What’s up with this? Why can’t Central Americans get their countries in order?”
ReplyDeleteUnqualified leadership... shitty to no education...
I know I know I im wrong again it’s all a big “neoliberal conspiracy!!!”
K,
ReplyDeleteTrump doesn’t want anything to do with those shitholes....
Watch his speech at his SRO rally in AZ yesterday... he is using the current OPEC rent-starved Venezuela as a political prop and btw it’s working...
Art major!
ReplyDeleteUnqualified!
I'm a genius!
Get yer munnie back!
Every place but my Mommy's basement is a shithole!
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Incidentally Trump has threatened to end US support for the Honduran government if it cannot stop refugees from coming north.
The refugees have been demanding a halt to US support for years.
All the US money goes to the military and the oligarchs.
Art major!
Unqualified!
I'm a genius!
Get yer munnie back!
Trump in Mesa, AZ yesterday:
ReplyDeletehttps://youtu.be/cXAEEr10RRY
“I'm a genius!”
ReplyDeleteAgain I’ve never said that ... I’m saying you are stupid... big difference....
Art major!
ReplyDeleteUnqualified!
I'm a genius!
Get yer munnie back!
You guys are biased against war!
Same trash every single time.
The Fed has created so much liquidity that the market isn’t honest anymore. David Stockman
ReplyDeleteAs if it ever was, given the government-privileged usury cartel.