Building Bridges vs. Buying Bombs

The Russky Bridge, Vladivostock. Built in 2012. Longest cable-suspension bridge in the world, just one of the infrastructure projects initiated by the Russian government in recent years.

China’s “Belt and Road Initiative” is famous as an extension of their domestic infrastructure investments, but Russia is also investing heavily in infrastructure. Both countries need to do it in order to improve the future for their respective populations, and both Governments have avoided the Western development model of going heavily into debt in order to pay for creating and maintaining infrastructure. Both are, in fact, exceptionally low-debt Governments.

According to the “Global Debt Clock” at Economist, China has a public debt/GDP of 17.7%, and Russia’s is 8.0%. For comparison, America’s is 93.6%. (Others are: Germany 85.8%, Spain 91.2%, Italy 122.6%, Greece 147.1%, India 54.2%, Pakistan 47.0%, and Brazil 55.0%.)

The United States isn’t going into public debt in order to finance building or maintenance of infrastructure, but instead to finance expansions of its military, which is already (and by far) the world’s largest (in terms of its costs, but not of its numbers of troops).

While the U.S. Government now spends around half of the world’s military expenditures and plans to conquer Russia, China, and all countries (such as Iran and Syria) that cooperate with those ‘enemies’ (and please click onto a link wherever you question the truthfulness of an allegation made here), Russia and China plan to improve their infrastructures, in order to boost their national economies and to minimize the impacts that (the mainly US-caused) global warming will have. These infrastructure projects are optimistic and long-term expenditures, which are being planned and built only because the countries that the U.S. aristocracy are targeting to conquer, expect the U.S. aristocracy to fail to achieve its clear #1 goal, of controlling the entire world and conquering them — of America’s rulers finally achieving the global fascist empire that, in World War II, Hitler and the other Axis powers had been hoping to become.

By contrast, US infrastructure is rotting; and, while every recent US President has promised to reverse that decline, none has done anything significant to repair this nation’s rotting infrastructure — it has always been just talk and empty promises. A nation that spends over a trillion dollars a year on ‘national defense’ can’t have much left over to spend on things that ‘can wait’ — such as repairing its bridges, roads, etc. — and so those repairs do wait, while even more money, than before, becomes devoted to purchases of new weaponry, such as the F-35 program.

Meanwhile, Russia and China prepare for their future, and hope it won’t be war.

On November 1st, RT bannered “Russia, India & Iran want to create alternative trade route to Suez Canal – report” and described “The 7,200-kilometers long corridor [that] will combine sea and rail routes”:

The route will make it possible to deliver cargoes from India to the Iranian port of Bandar Abbas. Then, the goods will be transported by land to Bandar Anzali, Iran’s port on the Caspian Sea. After that, goods will be shipped to the Russian southern port of Astrakhan, from where they will move to Europe by rail. The new transport artery will potentially reduce the time and costs of shipping by up to 40 percent.

A linked news-report there headlined “Top of the world: Russia to build world’s northernmost railway in Arctic”, and another headlined “Japan turns to Trans-Siberian Railway to test potential connection with Russia, China & S. Korea”.

If the US Government’s plans to destroy Russia succeed, then any of these new or extended infrastructures will either be destroyed or else be taken over by the U.S. and its allies. (If taken over, then presumably Japan’s aristocracy will be part of the new regime there that does so.)

Consequently, building and extending these new infrastructures is Russia’s bet — and a concrete testimonial to the bet — that outright war by the destroyers can be avoided. The nations that America and its allies want to conquer are looking to the future, not to conquest or any type of war (though they must also be prepared for war, if the U.S. does invade).

Last week, the US and its NATO allies held the largest war-games in history, and these preparations to invade Russia are occurring all along and near Russia’s borders, in the countries that formerly were the Soviet Union’s Warsaw Pact military alliance. Though the U.S. and its allies say that Russia and China are threatening to them, these massings of soldiers and of tanks and planes on Russia’s borders are aggressions, not defensive at all as claimed.

How would we Americans feel if Russia were doing this along America’s borders? Would we feel that Russia is defending itself, then? Russians have sound reason to be terrified by the U.S. and its allies. Americans were terrified by the Soviets when the issue was Soviet missiles located in Cuba only a hundred miles from the U.S.

This country then threatened: if you do that, then we’ll launch war against you. Russia isn’t responding similarly, even though America’s threat to them is much bigger than that threat to the U.S. was in 1962 during the Cuban Missile Crisis.

All that today’s US Government wants is to conquer the world, which now especially means Russia, China, and countries that do business with those ‘enemies’. Iran is also a major target of the U.S., because the U.S. aristocracy’s main allies are the Sauds and Israel, both of which hate and crave to destroy Iran.

Though those three targeted countries want to avoid being conquered by the U.S. Government, most of their expenditures are for their own domestic economies, instead of for defending against the U.S. and its allies.

However, the U.S. and its allies are clearly and consistently the aggressor since 1991, and expanded their NATO alliance up to Russia’s borders; Russia didn’t expand its Warsaw Pact alliance up to America’s borders, but ended the Warsaw Pact in 1991. None of Russia’s expenditures are for conquering foreign countries, such as the U.S. alliance now is trying to do in countries such as Syria and Yemen, and perhaps soon in Iran, too; so, the U.S. Government has no excuse whatsoever in this matter, but pure guilt in it, pure aggression.

There really is a difference between “The West” and “The East” in our era, but it’s more like the difference between The Axis powers in WW II versus The Allies, than it is between democracy versus dictatorship; and, in fact, the U.S. Government is the world’s only Government that has been scientifically analyzed to determine whether it is a democracy or instead a dictatorship, and it has consistently been found, in these rigorous studies, to be a dictatorship, against the public, by its billionaires, the aristocrats, and not a democracy, at all.

Furthermore, the preponderance of the major outcome-indicators of the extent to which a given nation is a dictatorship or even a police-state, or is instead a democracy that’s ruled by its public, are showing that the U.S. is a dictatorship or even a police-state, and that the nations it calls its ‘enemies’ are more toward the democratic side — serving their respective public, instead of any such narrow and exclusive elite as the owners of “the military-industrial complex.”

US-allied propaganda to the contrary alleging that the US and its allies are the ones which are ‘democracies’, like this piece from the US stooge-nations that constitute the EU, are always based on ranking — without clearly explaining how — the mere formalities of ‘democracy’, no authentic measures of democracy itself, but only the associated formalities, which often are mere fronts, behind which the given nation’s aristocracy control that given country.

The US has emerged into the very model of the modern dictatorship, relying maximally upon a coordination between deceit and military power. This is the reason why it now spends half of the world’s military costs — to serve its aristocracy, who have perfected Joseph Goebbels’s system of calling good bad, and bad good, and of otherwise imposing what the novelist George Orwell subsequently called “Newspeak” in its ‘news’-reporting and commentaries, to serve the controlling aristocracy, “Big Brother.” It’s here, and now. On November 1st, Jonathan Cook at Global Research headlined “Bolsonaro: A Monster Engineered by Our Media” and he explained how even the “liberal” aristocrats in the U.S. and its allied countries have brought back racist fascism, the ideology known as nazism, as a globally spreading plague now.

Here is how America’s master of Newspeak, Barack Obama, represented, to West Point Military Academy’s graduating cadets on 28 May 2014, the new, American, version, of Adolf Hitler’s beloved “Deutschland, Deutschland über alles, über alles in der Welt”:

The United States is and remains the one indispensable nation.

[Every other nation is therefore ‘dispensable’; we therefore now have “Amerika, Amerika über alles, über alles in der Welt”.]

That has been true for the century passed and it will be true for the century to come…America must always lead on the world stage. If we don’t, no one else will…Russia’s aggression toward former Soviet states unnerves capitals in Europe, while China’s economic rise and military reach worries its neighbors. From Brazil to India, rising middle classes compete with us.

[He was here telling these future U.S. military leaders that they are to fight for the U.S. aristocracy, to help them defeat any nation that resists.]

…In Ukraine, Russia’s recent actions recall the days when Soviet tanks rolled into Eastern Europe. But this isn’t the Cold War. Our ability to shape world opinion helped isolate Russia right away. Because of American leadership, the world immediately condemned Russian actions; Europe and the G7 joined us to impose sanctions; NATO reinforced our commitment to Eastern European allies; the IMF is helping to stabilize Ukraine’s economy; OSCE monitors brought the eyes of the world to unstable parts of Ukraine.

Actually, his — Obama’s — regime, had conquered Ukraine in February 2014 by a very bloody coup, and installed a racist-fascist anti-Russian Government there next door to Russia, a stooge-regime to this day, which instituted a racial-cleansing campaign to eliminate enough pro-Russia voters so as to be able to hold onto power there.

It has destroyed Ukraine and so alienated the regions of Ukraine that had voted more than 75% for the democratically elected Ukrainian President whom Obama overthrew, so that those pro-Russia regions quit Ukraine. What remains of Ukraine after the U.S. conquest is a nazi mess and a destroyed nation in hock to Western taxpayers and banks.

Furthermore, Obama insisted upon (to use Bush’s term about Saddam Hussein) “regime-change” in Syria. Twice in one day the Secretary General of the UN asserted that only the Syrian people have any right to do that, no outside nation has any right to impose it.

Obama ignored him and kept on trying. Obama actually protected Al Qaeda’s Syrian affiliate against bombing by Syria’s Government and by Syria’s ally Russia, while the US bombed Syria’s army, which was trying to prevent those jihadists from overthrowing the Government. Obama bombed Libya in order to “regime-change” Muammar Gaddafi, and he bombed Syria in order to “regime-change” Bashar al-Assad; and, so, while the “U.S. Drops Bombs; EU Gets Refugees & Blame. This Is Insane.”

Obama’s successor Trump continues Obama’s policies, regarding not only Ukraine, but regarding also Yemen and Syria, and much else, except that Trump goes even more nazi than Obama did. The change from Obama to Trump was from soft nazi to hard nazi. That’s all. Trump is the U.S. regime’s going wild.

Every day, the US regime murders lots of people in foreign lands. Today, as this is being written, on November 3rd, Syria News, which I’ve found to be far more reliably truthful about the situation in Syria than is for example the New York Times, headlined “US-Led Coalition Murders 15 Civilians in a New Bombing in Hajin”, and reported that, “Under the guise of fighting ISIS, the US and its cronies, are trying to establish a de facto barrier on the Syrian-Iraqi border which is run by ISIS and SDF, who both receive support from the US and both have occasional clashes [against each other] in between.” Aggression (and lying about it) is normal for the U.S. Government.

On January 19th, US ‘Defense’ Secretary James Mattis said that “great power competition, not terrorism, is now the primary focus of U.S. national security,” and this means war by the U.S. against both Russia and China, and perhaps also Iran; but if the people of Europe don’t rise up against that plan, then not only will they have even more refugees from America’s “regime-change” bombs, but they will soon have Russia’s bombs retaliating against Europe itself for being a part of America’s aggression, via the NATO military alliance, an alliance that should have ended when the Warsaw Pact military alliance did, back in 1991. Either End NATO Now, or else join the carnage that America’s aristocracy are clearly determined to impose upon the world in order to conquer it. The choice is that simple.

The only ways that the global public can effectively fight back against the U.S.-and-allied aristocracies’ plan to enslave the entire world to their coercive and sanctions-laden ‘free market’ are:

  1. to boycott America’s brands and, as much as possible, conduct all international transactions in any other type of currency than the U.S. dollar; and,
  2. to vote against any politician who has endorsed America’s invasions, such as of Iraq 2003, Libya 2011, Syria 2012-, Yemen 2015-, and U.S. coups, including its coup that conquered Ukraine in 2014 and installed a nazi Government there. And,
  3. to organize marches, if possible, against any U.S. military base occupying their nation. The occupying power needs to be expelled in order for the given nation’s public to control their own country.

Otherwise, the U.S. aristocracy can simply continue with its pillage of our planet. The global public needs to do its part, not to leave it to the targeted countries alone to try to put down this global resurgence of fascism, by America’s oligarchs. This also means abandoning the two aristocracies that work the most closely with America’s: Israel’s and Saudi Arabia’s (both of which target Iran and its allies, even more than they target Russia and its allies). The listed three steps are the only path toward a survivable planet: isolating and publicly shaming the nazis.

Also the Newspeak needs to end, right now, because without honesty, no type of progress is even possible.

All of these measures are not only morally right; they are necessary, because the present path leads to not only profound injustices, but a hellish global future.

Unfortunately, the U.N. cannot do any of these essential things. But only the global public can — and will, if there is to be continued life of this planet, and lives here that are worth living.

PS: For anyone who might consider odd that an American (the present writer) views Russia as a core ally of the American people, and views recent American Presidents (starting with George Herbert Walker Bush on 24 February 1990) as traitors to America — as being enemies of the American people and of the entire world — please consider the following historical facts:

According to Jan Ludvík’s “The Poverty of Statistics: Military Power, Defence Expenditure and Strategic Balance”, in the January 2014 Central European Journal of International and Security Studies (p. 157), the relative expenditures in order to win World War I were Russia 24%, UK 22%, U.S. 21%, France 20%, and Italy 13%. Russia spent the most of all the allies. In WW II, the relative expenditures in order to win were Russia 58%, UK 20%, U.S. 12%, France 10%. Yet again — and this time overwhelmingly — Russia spent the most of all the allies, 58% of the total allied cost. The only country that spent more on that war was Germany, which of course was on the losing (“Axis”) side, and which spent 37% more to lose that war than Russia spent to win it. During WW II, Germany spent 75% of its side’s entire costs; Japan spent 17%, and Italy spent 8%. So: WW I was mainly between Russia and Germany, and so was WW II. And that’s clear also from another calculation:

The same source (p. 159) indicates that Russia’s troops were 46% of those fighting on the winning side of WW I (and #2 on that was France with 20%), and were 55% of the troops fighting on the winning side of WW II. (France was #2 again in WW II, also 20%.)

Furthermore, in WWI, Russia’s troops were 38% more (in numbers) than both Germany’s and Austria’s put together; and, in WWII, Russia’s troops were 4% less than Germany’s, Japan’s and Italy’s combined, but were twice as many as Germany’s number.

So: by far the biggest contributions to the winning not only of WWII, but also of WWI, were made by one and the same country, both times: Russia. America’s contribution was much smaller, on both occasions. And, now, America’s leaders and their foreign allies have become nazis, heirs of Hitler’s tradition, who call Russia an “enemy,” for refusing to do what these nazis demand.

Of course, there were also other nations on each side of each of those wars (for example, Wikipedia lists over a dozen “Allies of World War I”), but Ludvik calculated the numbers only for these, the main ones, on both sides.

So: everyone who can should now become active on this!

Originally posted at strategic-culture.org


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John G
John G
Nov 13, 2018 1:13 AM

Government debt isn’t teally debt. They issue bonds in the amount of the deficit which are the private sectors net savings.

The Chinese understand it perfectly The Russians do not

Nov 11, 2018 8:53 PM

And the the US Power Elite is going mad!
„Geo-Politics: The Core of Crisis and Chaos and the Nightmares of the US Power Elite“ https://wipokuli.wordpress.com/2016/08/01/geo-politics-the-core-of-crisis-and-chaos-the-nightmares-of-the-us-power-elite/

Ole Olesen
Ole Olesen
Nov 10, 2018 2:55 PM

As i agree with many of Erics assertions .. there is one thing he has not understood . Let me clarify :
as well as INCLUDE a LIST of EXTRAORDINARY LITERATURE .. usefull for anyone who wants to KNOW :

1. The United Kingdom has been in JEWISH BILLIONAIRE Hands since 1695 and the British Empire was … and is .. in reality a JEWISH EMPIRE !

2. Since 1913 with the enactment of the FEDERAL RESERVE ACT the USA likewise has been a JEWISH BILLIONAIRE EMPIRE

3.Combined these ruling forces can be termed the ZIO ANGLOSAXON TRANSATLANTIC POWERS.

4. These Jewish Zio Anglosaxon Forces succeeded in assisting the Jewish Bolsheviks in taking Power in Russia

It was these forces who wanted and succeeded in launching ..and finally winning ..both WW 1 as well as WW 2 and many other Atrocities

The AIM was to subdue and dominate the EURASIAN CONTINENT … which includes Continental Europe. … a CONTROL which is the Condition SINE QUA NON for WORLD DOMINATION

4. They were successfull and the SOVJET EMPIRE was part of this successfull plan , because for a long time the Sovjet Empire was ruled by JEWISH ELITES for the first half of its existence. The SOVJET EMPIRE was PART of the ZIO ANGLOSAXON STRATEGY for a long time

5. .. initially MATERIALLY destroying Russia as a serious competitor , in course of events guaranteeing the MILITARY VICTORY of the ZIO ANGLOSAXON MANIPULATORS .. an ALLY without which these Powers could not have been successfull in military Terms .

6. The situation changed when the Jews LOST CONTROL over the SOVJET EMPIRE , a process starting in the 50ties which was completed in the 80 ties where the MAJORITY of the Marxist JEWISH ELITES had FLED the SOVJET UNION and their Massmurders there . Due to this barbarious MASSMURDER of MILLIONS of indigenous Russians and East europeans these jewish Elites will not be wellcome in all of the Area of former Sovjet Empire for a forseeable future … the People of those areas have in the HARD MANNER experienced the JEWISH CRUELTY and TRIBAL EGOTISM….

7. The JEWS left and emigrated to the USA , to ISRAEL and to Westeurope ..in the process converting from having been fanatic Marxists to become ardent capitalist NEO-CONS- In Russia alone Millions of Jews left ..so at the end of this process only some 200.000 were left. And THAT was the reason the Sovjet Bolsjhevik Empire broke down ! The Nomenklatura , the Bureaucratic apparatus , the Secret Police .. the Control Apparatus … had LEFT… and the Russians as well as East europeans were NOT interested in the Communist Slogans anymore .. they knew by experience they were FALSE !

8. Having arrived in the West the Jews claimed to have been persecuted by the ” System ” .. when in fact they had been THE SYSTEM . Well settled in the West the jewish People have continued assisting their ZIO ANGLOSAXON CAPITALIST RULERS in their Quest for World domination which includes the creation of a GREATER ISRAEL on the Crossroads between 3 Continents .
.. And THATs where we are today …

Documentation : ( as short as i can make it .. the Documentation can be expanded ad libitum )
Presuming a general knowledge of Historical events

a.The History of Central Banking and the Enslavement of Mankind by Steven Mitford Goodson

b. The Geografical Pivot of History by H.J. Mackinder

c. Hidden History: The Secret Origins of the First World War by G. Docherty, J. MacGregor
( the book is available for free on line in Google Books )

d. The Rulers of Russia by Rev Dennis Fahey ( just as an example , there are plenty others )

e. The Jewish Century by Prof . Yuri Slezkine

f. Stalins willing Executioners , Jews as a Hostile Elite
Review of Slezkines The Jewish Century by Prof Kevin Macdonald ( so You don’t have to read e. )

and a long List of EXCELLENT BOOKS on the last 200 Years by distinguished Authors
I can recommend those who DO want to know : WHAT HAPPENED ???

Juri Linna: Under the Sign of the Scorpion

Deanne Spingola : The Ruling Elite: The Zionist Seizure of World Power

Deanne Spingolas : The Ruling Elite: Death, Destruction, and Domination

Carrol Quigley : Tragedy and Hope

Carrol Quigley : The Anglo-American Establishment

Antony C Sutton : Wall Street and the Bolshevik Revolution

Douglas Reed : The Controversy of Zion

M.S.King : The bad War

Mike Walsh: Witness to History

Comte Leo de Poncins State Secrets : A Documentation of the Secret revolutionary Mainspring governing Anglo-American

Victor Suvurov : Icebreaker. Who started the Second World War ? https://www.amazon.com/Icebreaker-WHO-STARTED-SECOND-WORLD-ebook/dp/B007WTZ372

Major Jordan’ Diaries : Lend Lease to Russia From (NY: Harcourt, Brace, 1952)


and some Article Links


Review: How the Jews Defeated Hitler: Exploding the Myth of Passivity in the Face of Nazism, Part One and Two

Origins of World War II: The German Question (Part 1 , 2 and 3)

The Reichs Russian Heroes

Stalin’s Plan To Attack & Conquer Europe

HELLSTORM : http://www.hellstormdocumentary.com/

Nov 13, 2018 10:42 AM
Reply to  Ole Olesen

Excellent work,thank you, Ole Olesen.

May I also recommend Pawns in the Game, by WWII Canadian naval intelligence officer, William Guy Carr? Read for free on http://www.bibliotecapleyades.net
Use the search box.

Interesting food for thought on the origins of religions & humankind is contained in award-winning journalist Jim Marrs’ great book:
Our Occulted History, Do The Global Elite Conceal Ancient Aliens?
Sources range from NASA scientists to Sumerian clay tablets.

John Doran.

Nov 10, 2018 2:36 PM

Trump has several times proposed making US peace with Russia and using less US troops overseas which presumably won him votes in war weary US. But the pressures on him with the Democrat inspired Mueller investigation and even from Deep State Republicans have seen him change his views to continue sanctions while still toying with a relationship with Putin. It is both the media and the military neo-cons who keep up the paranoia and fake news against Russia who are to blame for spoiling Trump’s intentions and re-creating the old Bush/Clinton/Obama CIA regime that Trump so disrupted in its course for one world government run by the US. A pipe dream if there ever was one but in dangerous hands a fearful one.

Nov 10, 2018 7:58 PM

Unveiled: The Arrogance of John Bolton, The War Hawk in Trump’s Ear

John Bolton: U.S. Will Not Cooperate with International Criminal Court

Nov 10, 2018 10:28 AM

Well Mr Zeusse seems to be back on his usual path after the previous article meander …(hmm).

Though I do feel that the heart on sleeve routine of US invasion plans is a tad overdone, no?

I mean “its military, which is already (and by far) the world’s largest (in terms of its costs, but not of its numbers of troops).”

It really requires boots on the ground to invade and conquer, bombs don’t plant flags. There will not be enough US troops, ever, they don’t like plane loads of bodybags on TV.

They will need yet another proxy army, like the nazis were, like mujahadeen were, like isis were.

There is a bunch of brainwashing going on in the Ukraine, and the odd mad old central and eastern european countries, will they be stupid enough not to learn from history, they are disposable pawns which will end up doomed like all the others?

Besides from that, the concept of invading Russia and staying as victors there, is not only a first and second world war happening – ask Napoleon.

Anyway when it comes to infrastructure as China joins Japan in the bullet train future we are still arguing about outmoded tech of HS2/3. I guess we will have to wait for the Chinesr to extend their track to us.

Nov 10, 2018 7:45 PM
Reply to  DunGroanin

“It really requires boots on the ground to invade and conquer”

Are you sure. It’s not 1939 anymore. Modern warfare is high tech.

In this article:
The Saker is trying to argue the opposite, saying that all this technology doesn’t matter, but I’m not at all convinced by his arguments. Seems like a lot of bluster to me. But I’m no expert. 😉

Also there is the issue of nukes to consider. Relevant in this context is this article:

Nov 10, 2018 9:34 PM
Reply to  Editor

You divide. You arm both sides. You wait.

Mulga Mumblebrain
Mulga Mumblebrain
Nov 10, 2018 9:49 PM
Reply to  axisofoil

The Oded Yinon Plan. In Iran, with a great Shia majority, you divide the Shi’ites with bribery, and you work on the ethnic minorities. Just think like an Evil swine. The possibilities of ‘Divide and Rule’ are endless.

Nov 10, 2018 10:24 PM

That’s why we are the indispensable nation…..we share. We’re fair. Arms and munitions for everyone. We even have a school here to teach others how to for form little death squads so we can sell stuff to the then oppressed side, to protect themselves. We call this fair and balanced. Just like our news. Damn…..i’m out of pop corn.

Nov 12, 2018 2:40 AM
Reply to  Editor

I’m not saying they will use zero soldiers.

Nov 13, 2018 10:50 AM
Reply to  Editor

There are ALWAYS sufficient Quislings.
They are being cultivated NOW in target countries.

Nov 10, 2018 1:19 AM

None of what the US has been doing (russiagate, military buildup, sanctions, trade wars) makes any sense and will only hurt them long term.

Except for war.

Not possible? They already orchestrated two world wars.

Nov 10, 2018 1:17 AM

to boycott America’s brands and, as much as possible, conduct all international transactions in any other type of currency than the U.S. dollar; and,

Boycott America’s brands would require the cooperation of entire populations, and that’s not going to happen, if it’s even possible at all.

De-Dollarization: yes. But that has to be decided at the highest political levels. Citizens have zero to say in the matter.

to vote against any politician who has endorsed America’s invasions, such as of Iraq 2003, Libya 2011, Syria 2012-, Yemen 2015-, and U.S. coups, including its coup that conquered Ukraine in 2014 and installed a nazi Government there. And,

Voting is pointless.

to organize marches, if possible, against any U.S. military base occupying their nation. The occupying power needs to be expelled in order for the given nation’s public to control their own country.

Marches have never changed anything. If you think otherwise you’ve been bamboozled.

Things will only stand a chance of changing if politicians the world over start taking action. As it is they are all in the pocket of the US. The few exceptions (like Venezuela etc) are under heavy attack. Just now the UK refused to return Venezuela’s gold. Pure robbery in plain sight.

Nov 10, 2018 12:04 AM

For anyone interested in infrastructure and construction projects occurring in Russia……this is awe inspiring to me.

Nov 10, 2018 7:51 AM
Reply to  axisofoil

Then there is the Kerch Bridge and the new airport in Crimea – awe-inspiring too.

Nov 10, 2018 7:58 AM
Reply to  vierotchka

Oh, and the best hotel/spa in the world in Crimea. Amazing. I laugh when Americans say that Russia and Crimea are primiitive shitholes!


Nov 11, 2018 9:55 PM
Reply to  vierotchka

Definitely on my list of places to visit.Thank you for sharing .

Nov 11, 2018 9:52 PM
Reply to  axisofoil

Very impressive.I have been in construction all my working life but this is construction on a whole new level for me.Great video.

Nov 9, 2018 7:53 PM

Private debt to GDP don’t mean ‘squat. Private debt to GDP is the indicator of a possible ‘Minsky Moment’, as Steve Keen has being saying for years. Since GFC1, in fact. His little book: can we avoid another one – no we can’t (not actual title) is worth a read. (Yes, he does understand MMT!)

Here, China’s credit bubble is the “fastest growing in the history of capitalism”. It stood at 210% of GDP in 2017. Americas, by comparison, was 150%. And no, not all China’s debt is internalised, as people seem to insist. [Nor are facts sinophobic!]

[Details on his blog are paywalled.]

You’ll get no defence of the dollar from me, nor dispute of the rotting infrastructure, and profligate expenditure on the world’s greatest polluting and killing machine. But for the capitalists that matter (for Trump), the $$$$ it’s doing fine. With Trump’s $$$$4tn tax bonanza and Fed rate hikes (to 2.25%). It’s the emerging market economies (EME) model that’s bust, with money flowing back into the $$$$. Italy, Argentina, Turkey, and Pakistan are failing: contagion is spreading. The IMF is facing a funding crisis. China’s Shanghai Composite stocks are down 30%; the PBoC is buying yuan to “stay in band” and prevent devaluation. It’ not pretty and the self-organised global capitalist system is riddled with systemic fragility. But in a failing, dying world economy, the dollar is doing all right …for the vultures.

[Details on Jack Rasmus’ blog. Also in his excellent book “Systemic Fragility in the Global Economy”. Which people should maybe read before opining that the BRICS/EMEs offer a superior alternative model of globalised capitalist exploitation. They were set up with $$$$ capital which has gone home to roost. What, Pepe isn’t saying that. Maybe he would if he was an economist, not a journalist?]

Nov 10, 2018 10:38 AM
Reply to  BigB

So much for factual analysis. Perhaps if we downvote, he’ll go away? Then we can believe our fact-free crypto-capitalist internet memes of faux-dedollarisation and BRICS as an anti-imperial confederation in peace.
Brazil anti-American?
India anti-American?
South Africa anti-American?

You don’t have to look past the BRICS literature to see the Russia and China are committed to the “rules based international order” …only, they rightly see the rules as biased to the West. So they want an inclusive set of rules under the very same WTO /WB /IMF / UN Washington Consensus … whose credit imperialism they extend.

Wake up and smell the globalist marketing ploy …made by the same globalist ideologue who has given his assent to Corbyn. If you can’t smell a rat, then maybe you should?

Nov 10, 2018 12:30 PM
Reply to  BigB

The bankers who own the central banks and create credit are doing fine. They are trying hard to crystallise their gains. By stopping stock prices dropping, as the public savers are regularly invested into funds. When that easy QE ends the hot air keeping that balloon floating gets turned off. The fund values – peoples savings and pensions take a hit.

China is stopping its currency from rising not dropping.

The level of public debt does not matter for a fiat currency.

The level of private and personal debt does because it is limited by the lender – the bankers. Who secure it against real assets which they claim in default and sell off, pocketing the value, while their created credit is written off – against tax payments!

Rinse and repeat.

Nov 10, 2018 5:57 PM
Reply to  DunGroanin

QE has stopped: for the US at least. Now they are entering a QT (Tightening) phase …very trepidatiously – because even the Fed predicted that there was no good way to implement QT …without risking collapse. This is what the knock on effect in the global market has been caused by. Jack Rasmus thinks an interest rate of 2.75% will cause GFC2. 2.5% (up fro 2.25% current) might be enough. Perhaps they will back off and let the ECB and BoJ extend QE? …(the G7 CBs work in collu$ion: [Nomi Prins]).

The yuan is definitely dropping …6% when I last looked. Some say this is a deliberate devaluation to beat Trumps tariffs. I’m sceptical of that, as although it makes their goods cheaper, they already have a massive overcapacity and overproduction problem (aka ‘China Dumping’). It also raises the cost of the parts they import from SE Asia. They can’t afford to give stuff away for free (below production cost) for long. I’m not an economist, but I do try and keep up. I don’t think they want to go much lower.

The level of ‘private’ debt that I first referred to was a typo. I was hoping no one would notice! I meant ‘public’ debt …you just write a cheque for public debt.

They get the assets: we get to keep the debt. When ‘we’ – in the form of the ‘democratic’ government – can’t afford the debt …they bring in the kneecappers of the IMF: pay off the creditors …we keep the debt. When we still can’t pay, they sell off all our infrastructure to pay the compound interest on the debt …but we keep the debt!

It’s a losing zero sum game that you can’t rinse and repeat forever. Neo-feudal serfdom and debt enslavement beckon. The only thing I don’t get, is that other than your good self, it seems quite a few think that is a good thing. Perhaps BRICS will save us? Perhaps not.

Nov 11, 2018 2:14 AM
Reply to  BigB

BigB thanks for the clarification on your public/private debt typo – most of my comments contain similar errors, which sometimes end up reading as opposite to what i meant, i too hope people understand that it is an obvious mistake by the context 🤒

Following the machinations of Money is made deliberately opaque by learning Economics from day1 and kept overtly complex thereafter by all we are told in the media.

The simplest examples of which are the fallacies of the public purse being the same as the personal/household one; and that public expenditure comes from taxation i.e first the govt raises the money from tax THEN it spends it).

To try to understand it I follow the writings of experts and well experienced in money and taxation who have practical knowledge. Not just theoretical rote economists.

If you haven’t already come across them, i’d recommend the https://www.taxjustice.net/about/who-we-are/goals/

They are good and plain english starting points in a wide range of issues including monetary theory.

I won’t go much further on the China conversation now but to suggest that as the demographics change from the agrarian past via the industrial working class now to the burgeoning middleclass consumers of the future, the chinese will have less need to sell cheap tatt abroad as they will have a massive home grown demand for high value goods and services at home, like all developed nations. I expect that is when they will let the Yuan float freely up. I expect a lot more tourism from there taking advantage of their spending power then!

Nov 11, 2018 11:53 AM
Reply to  DunGroanin

TJN I quote all the time: no need to mention Nick Shaxson’s “Treasure Islands”? The other blog is new, I’ll check it out.

Fair enough, you don’t want to discuss China. But I will remark that they are caught between two stools …too much capacity that they have yet to export (to form the nodes of exploitation of the BRI). For now, they have to sell the “cheap tatt” because the workforce depends on it. Otherwise they will violate the “Mandate of Heaven” of ‘eternal’ progress.

The ‘agrarian past’ refers to the biggest dispossession, dehumanisation, and internal displacement in human history. Where have they gone? Did they all become millionaires? I don’t think so.

The super-exploited industrial class are the basis of ‘China Price’. What happens to them when their jobs are ‘offshored’ to Africa? Another mass migration? Where do the Africans go?

If we judge an economy by its bourgeoisie …well, as Steven Pinker recently wrote: we’ve never had it so good. Bourgeois consumption as a measure of ‘development’ is a form of criminal negligence, is it not? Will that “massive demand for high value goods” extend to the dispossessed underclass? Probably not.

{Sorry, I’m not really aiming at you, it’s just that I missed the last occasion when China was discussed …where any criticism is deemed ‘sinophobic’. The Chinese economy needs a deeper evaluation than its superficial bourgeois consumption. That might reveal the super-exploitation of the Chinese by the Chinese …which is in fact the world condition …not the world solution.}

Nov 12, 2018 10:27 AM
Reply to  BigB

Good thoughtful stuff.

Richard Murphy is the key current thinker in that link in my opinion.

Another great was Professor Hans Rosling. I urge everyone to take a few hours to watch his lectures.

Consumption as a driver of improving the human condition is not a bad thing.

What is wrong with having personal transportation to get your products to market? Or having electricity and refrigeration to keep your food going off? Etc. Such things improve the quality of life and automatically leads to lower birth rates and family sizes as infant mortality decreases.

Obviously over consumption and exceptionalism is, with multiple consequences for the consumers and the environment and peoples from whom resources are stolen.

Good talking to you

Nov 13, 2018 8:56 AM
Reply to  DunGroanin


Just before you go, it’s not consumption that is a problem …it’s overconsumption, as you say. Overconsumption, not by the entire global populace, but by just >1.5bn people (around 20% of humanity that consumes 80% of the resources). So it’s gross inequality and maldistribution of consumption. Population and birth rates should not be part of the equation. 80% of humanity could live quite happily without us. AGW, poverty, and biodiversity reduction would be either mitigated completely or positively impacted without bourgeois consumption. Food for thought?

I’ll check out Murphy and Rosling. Catch you later.

Mulga Mumblebrain
Mulga Mumblebrain
Nov 13, 2018 2:49 AM
Reply to  BigB

They’re being rather quiet about the QT-boom, boom!

Nov 13, 2018 9:04 AM

They are not making a song and dance, because the historic precedent (pre-QE) was when interest rates went to 5.5% (or 5.75%, memory block!) …and precipitated GFC1. GFC2, which can’t be stayed forever, will be GFC1 on steroids, with a 10 year debt hangover. Best keep quiet and blame Brexit?!?

Mulga Mumblebrain
Mulga Mumblebrain
Nov 10, 2018 9:53 PM
Reply to  BigB

Capitalism is moribund. It will cease to exist, soon, either through replacement by something sane and humane, or by its destroying humanity. I bet on the latter, I fear, as the ruling parasites are devotees of the ‘Samson Option’.