Globalist, Predatory Capitalism BS vs. Socialism BS

Why be afraid of socialism

How Faux Capitalism Works In America

Authored by EconomicPrism’s MN Gordonannotated by Acting-Man’s Pater Tenebrarum,

Stars in the Night Sky

The U.S. stock market’s recent zigs and zags have provoked much squawking and screeching.  Wall Street pros, private money managers, and Millennial index fund enthusiasts all find themselves on the wrong side of the market’s swift movements.  Even the best and brightest can’t escape President Trump’s tweet precipitated short squeezes.

The Donald mercilessly hits the shorts with a well-timed tweet. But as it turns out, this market is in a really bad mood at the moment. [PT]

The short-term significance of the DJIA’s 8 percent decline since early-October is uncertain.  For all we know, stocks could run up through the end of the year.  Stranger things have happened.

What is also uncertain is the nature of this purge: Is this another soft decline like that of mid-2015 to early-2016, when the DJIA fell 12 percent before quickly resuming its uptrend?  Or is this the start of a brutal bear market – the kind that wipes out portfolios and blows up investment funds?

The stars in the night sky tell us this is the latter.  For example, when peering out into the night sky even the most untrained eye can identify the three ominous stars that are lining up with mechanical precision.

These stars include a stock market top, followed by a monster corporate debt buildup, and a fading economy.  In short, the stock market’s latest break is presaging a corporate credit crisis and global recession.

BofA/Merrill Lynch US high yield Master II Index yield – this looks like a quite convincing breakout, impossible to tweet down. In other words, the corporate debt build-up is beginning to bite back – and rather bigly, if we may say so (ed note, in case you’re wondering: the little poems are from a Spectator competition in which people used phrases from actual tweets to put together Donald haikus and poems). [PT]

The last time these three stars aligned in this sequence was roughly a decade ago.  If you recall, that was when the DJIA crashed 50 percent coincident with a mega credit crisis and recession.  We suspect that the disaster that’s approaching will be much larger, and much more destructive than the disaster of a decade ago.

Bad Habit

Astute readers will be quick to point out that government debt was not identified as one of the three ominous stars lining up in the night sky.  This is not an oversight.  Rather, it is an insight.

Without question, government debt has burgeoned way beyond what even the most doom and gloom pessimists could have envisioned just a decade ago.  In fact, November marked the widest one month budget deficit in U.S. history.

Over a one month period – a month with just 30 days, not 31 – the U.S. government spent $411 billion while it only received $206 billion.  By our rough back of the napkin calculation, the U.S. government spent nearly double what it took in.  That difference, of course, was made up with debt.  Roughly, $6.83 billion of new debt was added each and every day.

At best, spending more than one makes, like smoking or swearing, is a bad habit.  However, spending more than one makes with no intention to pay it back is a moral failing.  What’s more, running up untenable levels of government debt with the implied intent of inflating it away at the expense of the citizenry is downright evil.

It’s definitely a tremendous pile of debt… and the slope of the mountain has steepened quite dramatically in recent years…  [PT]

Day after day, month after month, year after year, decade after decade, the U.S. government has racked up close to $22 trillion in debt.  Throw in unfunded liabilities of social security, Medicare (Parts A, B, and D), federal debt held by the public, and federal employee and veteran benefits, and the U.S. government’s on the hook for over $115.8 trillion in debt – or nearly $1 million per taxpayer.  How about that?

Of course, as the population ages, and the ratio of workers to retirees balances, these debt figures will go vertical.  As you can see, government debt is more than just an ominous star.  It’s the essential star.  Moreover, it is a dying star on the verge of collapse.  Quite frankly, it may not have enough energy to backstop the financial system during the next downturn.  Here’s why…

How Faux Capitalism Works in America

Our guess is that the real squawking from investors won’t begin until mid-2019.  That’s about the time corporate America becomes acutely aware that pumping gobs of borrowed money into grossly overvalued stocks was an act of financial suicide.

Just look to General Electric, IBM, and Citigroup for an early indication of the forthcoming catastrophe.  For instance, over the last decade GE spent $46 billion buying back its shares.  In 2016 and 2017 alone, at a time of mushrooming debt, GE pumped $24 billion into share buybacks.

GE wasted $46 billion on buying back its shares – with nothing to show for it except a collapsing share price. This was an astonishing misallocation of capital – very likely the company will eventually have issue new shares  to prop up its equity, at prices far below the prices it paid for buying them back. [PT]

Over this time, the price of these shares dropped from about $30 to $16.  And even with Thursday’s 7.3 percent boost, on word of a surprise JPMorgan upgrade, GE shares trade at $7.20.  In other words, shares GE bought back during the early part of 2016 have lost 75 percent of their value.  What to make of it?

The 2008 financial crisis helped clarify how faux capitalism works in America.  That when the big corporations and the big banks get in trouble, the people on top quickly absolve culpability while appropriating public funds from their friends at the Treasury for the purpose of private bailouts. This, in effect, socializes the losses across bottom rungs of society and concentrates profits across the top.

No doubt, the aftermath of the great corporate stock buyback craze of 2009 to 2017 will be a text book example of faux capitalism in action.  First, massive financial bailouts will be disseminated to crony banks and corporations with purpose and intent.  Then, a colossal river of monetary liquidity from the Fed will be diverted into credit markets, and into direct stock purchases of government preferred corporations.

Bailout progression – it continues until it cannot continue anymore, i.e., until the “running out of other people’s money” moment arrives. [PT]

The size and scope of these fiscal and monetary bailouts will utterly dwarf the TARP, ZIRP, and QE policies of the last crisis.  Assuming this doesn’t blow up the Treasury’s balance sheet, or vaporize what’s left of the dollar’s value, a certain end effect will take shape.  The middle class will be reduced to a notch or two above poverty, and wealth will be further concentrated into fewer and fewer hands.

We don’t like it.  We don’t agree with it.  But we can’t stop it.  This is the world we live in.  A world where justice has been debased and rectitude has been sullied.

Read More: https://www.zerohedge.com/news/2018-12-15/how-faux-capitalism-works-america

Socialism Always Ends in Destruction

Every attempt at socialism has failed miserably. Venezuela is only the latest country that has tried to implement a socialist paradise, only to inevitably crumble and crash before our eyes. Socialism, and its natural progression, communism, has caused the deaths of 100 million people since its inception 100 years ago.

Just a few decades ago, Venezuela had massive oil reserves and an abundance of other resources. It enjoyed wealth and an excellent standard of living. Today, Venezuelans have no food, no medicine, and the country is driven by corruption and fear. While a starving population is in despair, many are desperately trying to flee paradise. The army, supported by President Madero, is in the street, ready to brutalize any dissenters. Madero and the military are not starving.

Socialism can only survive through corruption and intimidation. It’s a system tailor-made for corruption. And corruption may be Venezuela’s largest industry.

Despite that fact that every socialist paradise on earth has turned into hell, many American politicians, and their supporters are calling for socialism for America. Senators Bernie Sanders, Elizabeth Warren, and Kamala Harris are self-declared proud socialist, loudly singing its praises. Younger newcomers such as Alexandria Ocasio-Cortez and Andrew Gillum are joining the chorus.

Read More: http://www.goldtelegraph.com/socialism-always-ends-in-destruction/

Hitler’s Economics

10/27/2018Llewellyn H. Rockwell Jr.

[Originally published August 02, 2003.]

For today’s generation, Hitler is the most hated man in history, and his regime the archetype of political evil. This view does not extend to his economic policies, however. Far from it. They are embraced by governments all around the world. The Glenview State Bank of Chicago, for example, recently praised Hitler’s economics in its monthly newsletter. In doing so, the bank discovered the hazards of praising Keynesian policies in the wrong context.

The issue of the newsletter (July 2003) is not online, but the content can be discerned via the letter of protest from the Anti-Defamation League. “Regardless of the economic arguments” the letter said, “Hitler’s economic policies cannot be divorced from his great policies of virulent anti-Semitism, racism and genocide.… Analyzing his actions through any other lens severely misses the point.”

The same could be said about all forms of central planning. It is wrong to attempt to examine the economic policies of any leviathan state apart from the political violence that characterizes all central planning, whether in Germany, the Soviet Union, or the United States. The controversy highlights the ways in which the connection between violence and central planning is still not understood, not even by the ADL. The tendency of economists to admire Hitler’s economic program is a case in point.

In the 1930s, Hitler was widely viewed as just another protectionist central planner who recognized the supposed failure of the free market and the need for nationally guided economic development. Proto-Keynesian socialist economist Joan Robinson wrote that “Hitler found a cure against unemployment before Keynes was finished explaining it.”

What were those economic policies? He suspended the gold standard, embarked on huge public-works programs like autobahns, protected industry from foreign competition, expanded credit, instituted jobs programs, bullied the private sector on prices and production decisions, vastly expanded the military, enforced capital controls, instituted family planning, penalized smoking, brought about national healthcare and unemployment insurance, imposed education standards, and eventually ran huge deficits. The Nazi interventionist program was essential to the regime’s rejection of the market economy and its embrace of socialism in one country.

Such programs remain widely praised today, even given their failures. They are features of every “capitalist” democracy. Keynes himself admired the Nazi economic program, writing in the foreword to the German edition to the General Theory: “[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.”

Keynes’s comment, which may shock many, did not come out of the blue. Hitler’s economists rejected laissez-faire, and admired Keynes, even foreshadowing him in many ways. Similarly, the Keynesians admired Hitler (see George Garvy, “Keynes and the Economic Activists of Pre-Hitler Germany,” The Journal of Political Economy, Volume 83, Issue 2, April 1975, pp. 391–405).

Even as late as 1962, in a report written for President Kennedy, Paul Samuelson had implicit praise for Hitler: “History reminds us that even in the worst days of the great depression there was never a shortage of experts to warn against all curative public actions.… Had this counsel prevailed here, as it did in the pre-Hitler Germany, the existence of our form of government could be at stake. No modern government will make that mistake again.”

On one level, this is not surprising. Hitler instituted a New Deal for Germany, different from FDR and Mussolini only in the details. And it worked only on paper in the sense that the GDP figures from the era reflect a growth path. Unemployment stayed low because Hitler, though he intervened in labor markets, never attempted to boost wages beyond their market level. But underneath it all, grave distortions were taking place, just as they occur in any non-market economy. They may boost GDP in the short run (see how government spending boosted the US Q2 2003 growth rate from 0.7 to 2.4 percent), but they do not work in the long run.

“To write of Hitler without the context of the millions of innocents brutally murdered and the tens of millions who died fighting against him is an insult to all of their memories,” wrote the ADL in protest of the analysis published by the Glenview State Bank. Indeed it is.

But being cavalier about the moral implications of economic policies is the stock-in-trade of the profession. When economists call for boosting “aggregate demand,” they do not spell out what this really means. It means forcibly overriding the voluntary decisions of consumers and savers, violating their property rights and their freedom of association in order to realize the national government’s economic ambitions. Even if such programs worked in some technical economic sense, they should be rejected on grounds that they are incompatible with liberty.

Read More: https://mises.org/library/hitlers-economics

The Federal Reserve is setting America up for economic disaster | TheHill

Federal Reserve Logo

I recently had the opportunity to read “The Creature from Jekyll Island” by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions.

  • America joined World War I largely to help a few bankers profit off the war (despite a long-standing Monroe doctrine that prohibited our involvement in European affairs)
  • The Bolshevik Revolution of 1917 was supported by international financial interests in order to destabilize Russia and steal the wealth of the Russian people; and
  • So-called “foreign aid” is merely a clever means of shifting the bad debt incurred by banks and wealthy financiers to American taxpayers.

The book is narrated in a notably conspiratorial tone and contains some obvious contradictions. For example, it contends that President Lincoln was once a liberator who sought to avoid being goaded into a destructive civil war by European powers jealous of America’s success, and had designs on colonizing Mexico. However, the book still raised some very good points that deserve serious consideration.

One that stood out is that over successive generations, people with concentrated wealth have sought to use the American military and the purse power of the taxpayer for personal gain. In fact, Griffin argues, the creation of the current iteration of the Federal Reserve System was a political act designed to hide the fact that a private banking cartel would manage the U.S. currency.

The Federal Reserve, as Griffin explains, is neither “federal” nor a “reserve.” It is not owned by the federal government, and it does not hold real assets in reserve. In reality, it is a giant debt factory backed by the “full faith and credit” of the government, or taxpayers.

One thing is clear. In the aftermath of the global recession of 2008, America and the world have been swimming in debt. America’s national debt alone has skyrocketed. While the Fed continues to justify flooding the market with cheap “reserve notes” based on the theory that it must supply these notes in order to support asset prices, the overall effect has been to debase the currency and prolong the pain of the American people.

As an entrepreneur who owns real assets — real estate, spectrum licenses and a publishing library, among others — I was able to benefit, at least on paper, from the Fed’s asset inflation strategy. I have been able to refinance my debt at attractive rates, and I’ve seen asset prices (but not necessarily values) climb. But others, especially workers (who derive the bulk of their income from salary instead of capital appreciation) and savers (retirees living on a fixed income), have lost under this post-recession scheme.

Workers lost because their spending power diluted drastically over the past 10 years. The costs of housing and energy have continued to rise in areas where the highest concentrations of jobs are located. For example, a young college graduate who wants to earn a high salary in the tech industry has to live in Silicon Valley, where even a base salary of $100,000 won’t enable them to afford to purchase a home there. Home prices are so out of line with average salaries that cities like San Francisco and Los Angeles are seeing an epidemic of homelessness never experienced since the Great Depression of 1929…..

 

Read More: thehill.com/opinion/finance/351153-the-federal-reserve-is-setting-america-up-for-economic-disaster

 

Feudalism and the “Algorithmic Economy” – Basic income – Medium

Algo-Econ

Welcome to the Algorithmic Economy, a future which uses machines to determine how effective you can be and how little they can pay you in the process.

There are no unions in this economy. There are no bosses to complain to. There are no people you can ask for redress. Because in this economy, the people doing the labor are considered the least important part of the machine and it’s best if they never communicate with someone living if it can be helped.

This is just like something out of a dark and dystopian science fiction novel, except its likely happening to you, right now. If it isn’t, unless you are very fortunate, it will be, soon. I write about the near-future in my speculative fiction. Often these are my most unpopular stories because they paint technology in a less-than-ideal light.

In a world in desperate need of positive imagery, a number of famed science fiction writers such as David Brin are recommending writers look at creating more beneficial, beneficent and Utopia-oriented stories, where people see the future as something to look forward to rather than promoting the more popular (and definitely easier to write) dystopias.

I have heard David Brin and know this work does need to be done, but having the extensive background in computer technology that I do, I still feel compelled to point out just how powerful and how much effect technology can have on our society now and in the near-future.

In “Dark Harvest” I point out the future of human trafficking improving its capacity to provide “slaves to order” using social media habits to gather intelligence on users making it possible to predict their behaviors and habits. Such technologies which I see being furthered by companies like Facebook, Instagram, and now Match.com are making it even easier to find, isolate and extract people from their lives without warning and without recourse.

In “We Now Return You to Our Scheduled Advertising” I posit a world overrun by “push” information technology being used to ensure advertising cannot be stopped from being heard by potential customers.

In our current world, television advertising is diminishing due to the power of DVR technology. As a result, smartphones (because they are harder to secure) are becoming a means of forcing users to endure advertising they don’t want in order to get content.

Companies are also learning how to hack your smartphone to send you content you did not ask for, by forcing your browsers to accept cookies, they can target you with specific advertising based on your search requests. Stores can, with the right software installed, direct information to your phone in order to influence your shopping decisions.

How long before such technology becomes part of the shopping experience you cannot opt out of? Recently it became possible to push an ad to speakers at remote locations using software technology. While it was immediately repudiated, it did not stop someone from discovering it could be done.

With recent laws being created, it will be possible to extract your data from an ISP and create profiles allowing advertisers to send information directly to you, no matter where you are.

THIS WEEK, THE House of Representatives followed the Senate in voting for a resolution that throws out Obama-era regulations that would have banned your internet service provider from selling your web browsing history to advertisers. What possible reason could Congress have for repealing such a consumer-friendly policy? The refrain on the House floor yesterday was “consistency.”

“What America needs is one standard across the internet ecosystem,” said representative Greg Walden (R-OR). If services like Google and Facebook can turn data into profit, the logic goes why can’t the cable companies?

But the House’s resolution doesn’t actually apply a single, consistent standard to the internet. It maintains the broken status quo, one in which internet service providers aren’t actually at a disadvantage to websites and apps. If anything, they’re held to a lower standard. (Wired.com)

Read More: medium.com/@ebonstorm/feudalism-and-the-algorithmic-economy-62d6c5d90646

Charles Hugh Smith: Our State-Corporate Plantation Economy

Plantation Economies

We’ve been persuaded that the state-cartel Plantation Economy is “capitalist,” but it isn’t. It’s a rentier skimming machine.

I have often discussed the manner in which the U.S. economy is a Plantation Economy, meaning it has a built-in financial hierarchy with corporations at the top dominating a vast populace of debt-serfs/ wage slaves with little functional freedom to escape the system’s neofeudal bonds.

Since I spent some of my youth in a classic Plantation town (and worked on the plantation as a laborer in summer), the concept of a Plantation Economy is not an abstraction to me, but a living analogy of the way our economy works.

Wal-Mart and the Plantation Economy (August 24, 2010)

Colonizing the Plantation of the Mind (August 25, 2010)

We Need a Social Economy, Not a Hyper-Financialized Plantation Economy (November 12, 2015)

Loving Our Servitude in America’s Plantation Economy (February 10, 2017)

The Plantation Economy is extremely hierarchical. Corporations and the state are both extremely hierarchical.

In the Plantation Economy, the Company has access to nearly unlimited credit.Small businesses serving the employees and the employees have enough credit to live on but not enough to buy productive assets. As a result, the Corporation can always buy up any productive assets, expanding its monopoly.

The state also has an essentially unlimited line of credit which it can use to fund its favored cartels and state fiefdoms.

Read More: charleshughsmith.blogspot.com/2017/04/our-state-corporate-plantation-economy.html

“The End Goal Is To Destroy The Constitution and Subvert The Country” – How Secretive Non-Profit Organizations Erode The United States

 George Soros Quote: I cannot and do not look at the social cosequences of what I do.

One of the biggest problems facing this nation is the amount of money that has been “sequestered,” to term it, for “Non-Profit Organizations,” or “NPO’s.”  Why?  They present a problem when they can be used by an unscrupulous individual or groups of unscrupulous individuals (for examples, a George Soros, or the Democratic Party respectively).  What is an NPO?  Let’s look at what they are and see if the definition is characterized by actual NPO actions.

Here is an excerpt from a book that describes NPO’s (what they should be):

“The main financial difference between a for-profit and a not-for-profit enterprise is what happens to the profit.  In a for-profit company like Ford or Microsoft or Disney or your favorite fast-food establishment, profits are paid to the owners, including shareholders.  But a nonprofit can’t do that.  Any profit remaining after the bills are paid has to be plowed back into the organization’s service program.  So profit can’t be distributed to individuals, such as the organization’s board of directors, who are volunteers in every sense of the word.”

Nonprofit Kit for Dummies,” ISBN: 0-7645-5347-X, pg. 8

Austere and stoic, these NPO’s, all!  Ahh, but what is conveniently left out is the salary portion…for the directors.  Those salaries are written off as an operating expense by the “Non-Profit,” but they’re hardly the funds gleaned by a “simple volunteer for the beneficent NPO.”  Another paragraph from the book shows this:

…for the most part, we’re talking about an organization that the Internal Revenue Service has classified as a 501(c)(3).  They receive exemption from federal income taxes and sometimes relief from property taxes at the local level.  Nonprofit organizations classified as 501(c)(3) receive extra privileges under the law.  They are, with minor exceptions, the only group of tax-exempt organizations that can receive tax-deductible contributions from individuals and organizations.

Being a nonprofit organization does not mean that an entity is exempt from paying all taxes.  Nonprofit organizations pay employment taxes just like for-profit businesses do.  In some states, but not all, nonprofits are exempt from paying sales tax…”

Read More: www.dcclothesline.com/2017/02/23/the-end-goal-is-to-destroy-the-constitution-and-subvert-the-country-how-secretive-non-profit-organizations-erode-the-united-states/

Burry Discusses Investing in Farmland, Real Estate, Gold: Video

Avoiding the Word Collapse

Funny how the interviewer tries to blow over the any uncomfortable reasons why Michael Burry would only be investing in farmland and gold.

Typical New York Times: Emphasizing Racial Divisions, Covering for Corporatism

Race–baiting: “the unfair use of statements about race to try to influence the actions or attitudes of a particular group of people.”

This is typical of the New York Times’ race baiting.

After the author goes “slumming it” undercover at a rural Michigan Walmart she concludes that the white, working poor voted for Trump because of resentment at the loss of their white privilege.

I wonder if she had moonlighted at a majority black or South Asian-staffed Walmart in suburban Maryland, Virginia or Pennsylvania her conclusions would have been different.

By focusing on just the white working poor, the author’s goal is to increase racial divisions in the working class, to divide them and distract from the political and media establishments’ roles in turning our country into a 3rd world, banana republic for corporate exploitation.

Is she trying to imply that if they just hadn’t been so blinded by their own racist reactions to globalist Darwinism, they would have voted for Hillary Clinton?

The author doesn’t explain how these race-blind 2008 voters, that helped elect Obama, are white supremacists 8 years later.

She also doesn’t take into account that they might not have voted for Hillary for many non-racist reasons, including how Hillary’s husband passed NAFTA, and after 8 years in office her would-be White House predecessor doubled the national debt (to “bail-out” banks) and created less than 3% growth with 95% of new jobs being part-time, temp or contract.

The Washington Post works hard to distract from the fact that the American Dream has faded for the entire working class, not just a particular race, and that fading was designed to benefit global corporations and the oligarchs that own them.

 

White Resentment on the Night Shift at Walmart

“Seven years ago, I joined the night shift at a Walmart in rural Michigan. For $8.10 an hour, I spent four or five nights a week filling shelves with the flour and sugar and marshmallow fluff that residents of the local county, which in 2008 voted for Barack Obama, needed to get through the holidays. Four years ago, the county went with President Obama a second time, though by a thinner margin. But this past November, the county, like the state, turned red.”

Read More: www.nytimes.com/2016/12/17/opinion/sunday/white-resentment-on-the-night-shift-at-walmart.html?WT.mc_id=2016-KWP-AUD_DEV/

Here’s Who Funded Shut Down Of Milo Yiannopoulos At Berkeley | The Daily Caller

George Soros quote: "Deliberately misleading propaganda techniques can destroy an open society."

Chuck Ross  02/03/2017

The Alliance for Global Justice, based in Tucson, is listed as an organizer and fiscal sponsor for Refuse Fascism, a communist group that encouraged left-wingers to shut down the Yiannopoulos event.

While it is unclear whether those who carried out the violence were paid to do so, the benefactors of the Alliance for Global Justice — and Refuse Fascism — are listed online.

According to its most recent 990 tax form, Alliance for Global Justice (AfGJ) received $2.2 million in funding for the fiscal year ending in March 2016.

One of the group’s biggest donors is the Tides Foundation, a non-profit funded by billionaire progressive philanthropist George Soros. Tides gave AfGJ $50,000.

The United Steel Workers labor union also contributed $5,000. The city of Tucson is also listed in AfGJ’s 990 as a donor, but a city official says that the city acted merely as a pass-through for a Native American tribe that provided a grant to the activist group. The city official said that no city money went to AfGJ.

Charities associated with several major corporations also donated. Patagonia.org, the outdoor apparel and equipment company, gave $40,000. The Ben & Jerry Foundation, the charity associated with the ice cream maker, gave $20,000. And Lush Cosmetic gave $43,950.

Another bit of irony is seen in the $5,000 contribution from the Peace Development Fund, a group that claims to support organizations that fight for human rights and social justice.

Another major donation came from a group that was chaired by Hillary Clinton during the 1980s. The New World Foundation gave $52,000 to AfGJ.

Read More: dailycaller.com/2017/02/03/look-who-funds-the-group-behind-the-call-to-arms-at-milos-berkeley-event/

 

January’s Job Layoffs 2017 , Bankruptcy , Store closings and other Business Economy News | www.dailyjobcuts.com

Daily Job Cuts .com Banner

The mainstream media will try to blame any “official” economic downturn on Trump but they are the ones that have been hiding the real situation for years in support of global corporate profits.

Websites like DailyJobCuts.com have been keeping track of the the real downturn in real-time and their record shows these problems started long ago with both Democrats and Republicans.

Read More: www.dailyjobcuts.com/layoffs-jan.htm

George Soros funds Ferguson protests, hopes to spur civil action – Washington Times

George Soros Quote: I cannot and do not look at the social cosequences of what I do.

There’s a solitary man at the financial center of the Ferguson protest movement. No, it’s not victim Michael Brown or Officer Darren Wilson. It’s not even the Rev. Al Sharpton, despite his ubiquitous campaign on TV and the streets.

Rather, it’s liberal billionaire George Soros, who has built a business empire that dominates across the ocean in Europe while forging a political machine powered by nonprofit foundations that impacts American politics and policy, not unlike what he did with MoveOn.org.

Mr. Soros spurred the Ferguson protest movement through years of funding and mobilizing groups across the U.S., according to interviews with key players and financial records reviewed by The Washington Times.

In all, Mr. Soros gave at least $33 million in one year to support already-established groups that emboldened the grass-roots, on-the-ground activists in Ferguson, according to the most recent tax filings of his nonprofit Open Society Foundations.

Read More: www.washingtontimes.com/news/2015/jan/14/george-soros-funds-ferguson-protests-hopes-to-spur/