Thursday, July 21, 2011

Seeing A Pattern Here, Mebbe?

This Murdoch Guy

История Ниццы старик и его маленьким мальчиком. Если вы считаете, Там ли мост через Неву, я могу продать вам, очень дешево.


By I.Rabschinsky

Old Guy, And Nize Little Boy Helps His Papa (Foto: The England TV)

So everybody is looking when this Guy, Rupert Murdoch Guy, shows up on television from the British Place (His little boy comes with him also, so that old man will not feel lonely; Good Boy, Nice Boy, maybe). Big, big story of the Oligarch Media Guy whose newspapers paid all kinds money to the Polizia and political guys and listened to the voicemail of everyone in the England.

Okay this is joking I make with you, but is not so far from the Truth.

So Old Rupert (who is younger than my Great-Uncle Yehudi but makes less sense), and his Little Boy, talk to people in Sports Commission of the British government. This was interesting, because I did not know that in the England, television and radio and the orchestral konzert and theatre and puppet show on street and Intersnet are sports. It would be nice to see which are winning and losing.

(Actually, these days is not so difficult to tell -- if News Corporation or News International are owning parts of media, they are losing. This is guarantee.)

Where Big Sewage Come From: The News Corp Headquarters

Old Guy and Little Boy tell Sports Commission they are like madonna saint kind of Guys: We don't know things, never saw things, didn't do things and nobody speaks to us even though we own and run everything. Like, the most incompetent guys from the history of all places and people. Then, some guy tries to assassinate Old Rupert with pie tin of shaving cream and Chinese Wife in pink jacket attacks Guy With Pie. Oy -- but, good theatre.

(Later, I tell this to Uncle Yehudi, who asks if Guy With Pie succeeded in assassination. I tell him, no! Is just shaving cream; how will he be killing That Guy? "We killed fascists in the Great Patriotic War with wood shavings and a bedroom slipper," says Yehudi. "Howitzers, also.")

They run almost all media on planet that does not belong to that Putz Berlusconi; but, they don't know things? Right; sure. They are so innocent that religion should spring up from them, like new airport, or bird feeder or yoghurt stand.

Great-Uncle Yehudi watched Old Rupert and Little Boy for three minutes. Then he stood up from his reclining chair, and changed channel to "The Mister Ed". What is you are doing? I'm asking -- this is like the history, and we get to see. Yehudi said to me, "You are my favorite great-nephew; but, look: The Mister Ed is funny. Oligarchs are not funny guys. When News Corp is run by talking animals, I will watch."

Only 26 Episodes: Great-Uncle Yehudi Knows Them All. By Heart.

So now that the Sports Commission Guys have heard from Old Rupert and the Nice Little Boy, stories start to show up. That maybe Son of Old Rupert is not the nize little boy, goot boy, like he says. That maybe he did know things; bad things. But that is not all. Not the Big Story, I am thinking.

Look: American FBI Guys are investigating now old lawsuit by business against Old Rupert -- a business, kind of small competitor guys, said they could prove that News Corp guys hacked into their computers like 11 times, and stole things.

And the minute they say this, Old Rupert is like, "Well, we will pay to settle this case with you" -- Like, $29 Million Dollars the US; plenty lots, you bet. That stops the whole thing from growing to be animal which can bite Rupert's personal ass. Plus, later, Rupert buys the little company ("There! Now I am showing you who is Big Guy!").

Uncle Yehudi makes drool on his sweater when he takes the Nap in his reclining chair, but he is That Guy, so I am listening: "People are like the chicken," he says. "If they learn that they get the food from humans by doing things, then they will keep doing those things, all the time, everywhere -- do this trick, get this food. You think Old Man and the Little Boy are different from chicken? Go away; it is time for Leaving It To The Beaver House."

Beaver: Very Good For You, Very Nice For You (Foto: Komradnik)

But my Great-Uncle, as usual, is making his point. It looks like there are lots of lawsuits out there, which Old Rupert paid altogether big money to settle. Because all his life, Little Rupert has not been The Good Guy, Nice Guy -- this is somebody wants to be like Joey Goebbels, Fascist Guy. And maybe, there are lots of stories in these lawsuits of breaking into computers or email or voicemail and stealing the things. And maybe there is pattern here to see.

Kind of like what happened in the England -- bad television, bad politik; bad police, and lots of money. The tricks of the chicken to get what it wants are always the same, no matter which farmyard it goes in. Britain, America, Australia; Old Rupert ran his businesses the same. He ain't being A Nice Guy. So; if this is Truth, then I am believing Old Rupert's business (which sells vomit from donkeys) is like a boat with bottom made out of newspaper (Hey; this is my joke. You like; you don't like; I don't care).

Once people are knowing hey, this how Old Rupert got to be so rich, because he is just Criminal Guy, and News Corp thinks they are like KGB which owns television, then his business will be be worth Kopecks, and his Chinese wife will say, "No bouncy-bouncy for you, Aussie Boy", and nobody will talk to him at the supermarket because he is That Guy.

Little Rupert Chicken Soup: Good For You, Nice For You

My Great-Uncle Yehudi is Smart Guy, even if he likes you to hit him with telephone directory until he falls down. And chickens may do tricks, and look like clever -- but they are still stupid birds. And when stupid birds pay so much attention to their own tricks and how pretty their feathers look, they don't see that the Fleischer has come to remove their heads and hang them up by their feet.

I, Rabschinsky, say this -- to Moldavish Guy; you also.


Tuesday, July 19, 2011

Murdoch Piekill

Teensy Security Lapse In UK

Little Rupert was hit by a shaving-cream pie this morning, wielded by a member of the audience to his testimony before the Parliamentary inquiry into the phone hacking and police corruption (and lying to Parliament, though that's rather obvious) scandal.

TPM Media posted their own review of the BBC camera feed of the incident. The piekill assailant apparently got the Ol' Digger pretty good (you can see shaving cream on the right shoulder of his suit coat).

His second (trophy) wife, Wendy Deng, in the pink jacket, leapt up to hit the piekiller; ah, the rage of the wealthy.


(via TPM / UTub: See the non-dog-sized version here)

I tried watching the New York Times' live feed of testimony before the commission, and began watching the Murdoch's appearance as Lil' Rupert's son asked to read a statement before answering questions (he was told, politely, no). With his first response to a question, he said, "Let me begin by saying, we are sorry --"

I shut it off, right there. This is the Murdoch's scripted, planned response. Just as Fox in America repeats misinformation over, and over, and over until it's indistinguishable from the truth, that is Lil' Rupert's plan here. You will hear the phrase "We are sorry" (which just happens to be the phrase in large, bold type at the top of News International / New Corp's full-page ads in every newspaper in England) at every turn. Everyone in NI and NC will be "On message".

And when they aren't?
And I'm not saying that somebody should have told me. To my knowledge certain things were not known. And when new information came to light, with respect to my knowledge of these events, when the new information came to light, the company acted on it, and the company acted on it in a right and proper way as best the company could. But it's difficult to say that the company should have been told something if it's not known that a thing was a known fact to be told.
-- James Murdoch, COO Of News International, Replying
To A Question At The Parliamentary Inquiry
It's the sound of an Eel, twisting with a hook in its mouth.


Monday, July 18, 2011

And That Right Soon

Reap The Whirlwind

From today's New York Times (Jo Becker and Ravi Somaiya, "Murdoch Aides Long Tried to Blunt Scandal Over Hacking"):
Two days before it emerged that The News of the World had hacked the cellphone of a murdered schoolgirl, igniting a scandal that has shaken Rupert Murdoch’s media empire, his son James told friends that he thought the worst of the troubles were behind him. And he was confident that News Corporation’s $12 billion bid for the British satellite company British Sky Broadcasting would go through...

Evidence indicating that The News of the World paid police for information was not handed over to the authorities for four years. Its parent company paid hefty sums to those who threatened legal action, on condition of silence. The tabloid continued to pay reporters and editors whose knowledge could prove embarrassing even after they were fired or arrested for hacking. A key editor’s computer equipment was destroyed, and e-mail evidence was lost.

Internal advice to accept responsibility was ignored, former executives said. John Whittingdale, a conservative member of Parliament who is the chairman of the committee that will question the Murdochs, said they need to come clean on the depth of the misdeeds, who authorized them and who knew what, when.

“Parliament was misled,” he said. “It will be a lengthy and detailed discussion.”

Mr. Murdoch has indicated he wants to cooperate.

“We think it’s important to absolutely establish our integrity in the eyes of the public,” he said last week. “It’s best just to be as transparent as possible.”
Murdoch and his hirelings have run a corporation based on lying to and manipulating millions in Europe and America, all to support the agenda of right-wing politicos. Not only have they allowed the Murdochs a free hand to expand their business -- more money, more influence and personal power for Murdoch and his Issue -- Little Rupert believes in the same narrow, misbegotten 'Screw The Peasants' agenda as the political right. News Corp has pumped sewage into the eyes and ears of the world for decades.

If Rupert and his paid crew expected any other outcome from that kind of behavior, beyond Sow The Wind; Reap The Whirlwind, then they're even more arrogant fools than suspected.

As got said in The Shawshank Redemption, His Judgement Cometh / And That Right Soon.



Nicht So Unglaubliches: via Talking Points Memo:
In another twist in the News Of The World scandal, a former reporter for the tabloid who initially alleged that editor Andy Coulson knew about the practice of phone hacking by his staff, was reportedly found dead Monday.

The Guardian reports that though police wouldn't confirm the identity of the man found dead, it is believed to be Sean Hoare, formerly of NOTW and The Sun... According to the police report, "the death is currently being treated as unexplained, but not thought to be suspicious. Police investigations into this incident are ongoing."

From the police statement, via The Guardian:

"At 10.40am today [Monday 18 July] police were called to Langley Road, Watford, following the concerns for the welfare of a man who lives at an address on the street. Upon police and ambulance arrival at a property, the body of a man was found. The man was pronounced dead at the scene shortly after."
Noch Einmal, Mit Schlag: Hoare apparently knew a great deal about the 'phone hacking'; he was the first former NOTW reporter to come forward and declare the 'hacking' was more widespread and sophisticated than anyone knew.

Since last year, he had made numerous statements -- including a recent interview with the BBC, where he claimed then-News Of The World-editor Andy Coulson [later, Tory Prime Minister Cameron's Director of Communications] knew intimately what targets were being hacked, and how it was being done: With the help of the police.
Just last week, Mr. Hoare told The [New York] Times that British police had used illicit cellphone tracking, known to News of the World journalists as “pinging,” to help them locate subjects...

Under British law, the technology involved is restricted to law enforcement and security officials, requires case-by-case authorization and is used mainly for high-profile criminal cases and terrorism investigations, according to a former senior Scotland Yard official who requested anonymity so as to be able to speak candidly.
I have bought the special caramel popcorn, with the Toy Surprise inside, to eat while watching all this continue to unfold.

And we haven't even gotten started on the American side of the story: Early days, yet, Lil' Rupert; early days.


Saturday, July 16, 2011

Sehr Schlau: Little Rupert's Week

So Sorry, Sorry Sorry Sorry

Little Rupert Murdoch, Anxious To Speak About His Sincerity, After
Meeting Milly Dowler's Family (Stefan Rousseau / PA; Guardian UK)
Schlau
(adjective) clever, shrewd; cunning, crafty, slick
ein schlauer Bursche; a crafty or cunning player
Our Business Was Founded On The Idea That A Free And Open Press Should Be a Positive Force In Society.
-- Rupert Murdoch, July 14, 2011
In this past week, Little Rupert Murdoch, five years old, shut down the 168-year old newspaper he'd acquired in the mid-1960's, The News Of The World. Andy Coulson (former Editor-In-Chief at Rupert's News Of The World; former head of Rupert's News International division of News Corp; and former head of communications for the UK's conservative Prime Minister, Davy Cameron) was arrested for involvement in the cop-bribing and phone-hacking scandal.

Davy Cameron, once a close BFF of Little Rupert, was forced to agree (no; he had to be seen to lead by demanding) that a government inquiry begin immediately into the entire phone-hacking scandal, and that Little Rupert and His Issue, along with the current head of News International, Rebecca Brooks (also formerly Editor-In-Chief at 'The News Of The World') appear to testify in person and in public.

Rupert squirmed. At first, he refused: As a naturalized American citizen, he could decline to participate in the UK's official inquiry. He attempted to have conservative allies in the British government move his testimony to an in camera venue, before of another kind of governmental body, or to agree to submit answers to written questions. When it became clear if he didn't appear, he'd be subpoenaed, Little Rupert had to agree.

Yesterday (as the New York Times' Opinionator blog noted), Rebecca Brooks resigned, still claiming no involvement in the hacking and bribing, walking back any apology by minimizing the effects of what took place.
Brooks issued a statement. Here’s the apology part: “As chief executive of the company, I feel a deep sense of responsibility for the people we have hurt and I want to reiterate how sorry I am for what we now know to have taken place.” And here’s the backdown: “Therefore I have given Rupert and James Murdoch my resignation. While it has been a subject of discussion, this time my resignation has been accepted.”
Also on Friday, Les Hinton -- A Little Rupert's News Corporation executive, former chief of News International and publisher of The Wall Street Journal (another Little Rupert property) -- publicly released letters of resignation he sent to both Lil' Rupert, and a farewell to his employees and staff.

Hinton will be called to testify in London as well; a longtime confidant of Little Rupert's, Hinton had been chief executive at News International when the hacking and bribing were taking place at The News Of The World; and, he had been Brooks' and Coulson's boss.


News Corporation is now being advised by a professional damage-control team from one of the world's best public relations firms. On Friday, Little Rupert, in person, went to see the family of Milly Dowler, the 13-year-old girl murdered in 2002 whose voicemail account had been hacked by New Of The World reporters and paid staff.

He was reported by Guardian.co.uk to have put his his head, literally, in his hands and say repeatedly that he was sorry. He was described as "very sincere... shaken..." -- clearly, an 80-year old Oligarch with a human side; of course he feels things. Just like you and me.
The global head of News Corporation "held his head in his hands" and repeatedly told the family he was "very, very sorry", according to the Dowlers' lawyer Mark Lewis.

"He was very humbled and very shaken and very sincere," said Lewis speaking outside the meeting at the five-star hotel. "I think this was something that had hit him on a very personal level and was something that shouldn't have happened. He apologised many times. I don't think somebody could have held their head in their hands so many times and say that they were sorry."
An Oligarch, with a reputation for ruthlessness, hardassed language and behavior, facing a crisis to his business and to his family's personal fortune. He's used to taking meetings where he knows what outcome he wants, and hasn't been above throwing the occasional tantrum or turning on the charm; whatever it took to outmaneuver or cajole whoever he deals with. So long as the 'outcome' he wanted was reached. That's business, boys and girls. That's what Little Rupert has done his entire life.

Would he allow himself to be coached by the damage-control team (who have probably quickly and thoroughly researched the backgrounds of the father and mother of the murdered girl; I would've done, were I working for Lil' Rupert) about what language, what visual cues to use with a working-class British family -- so they will believe his apology is sincere? So that he get the 'outcome' he wants?

You judge. Remember, the same kind of advice was given to Queen Elizabeth after the death of Diana, Princess of Wales. Little Lizzie doesn't care for the peasantry, and most of the Royals despised Diana, something the British public well knew from the occasional leaked reports. The Queen and the rest of the Royals left London when Diana died and remained at Balmoral.

However, it quickly became clear that the outpouring of public grief at Diana's death from among those same peasants contained more than a whiff of anger at the "coldness" and lack of comment or response from The Royals. The peasants had a quaint notion, you see (based on historical precedents) that a death in the Royal Family meant at least some show of outward sympathy and grief.

Saving The Brand: Lizzie Works The Crowd On The Day Of Diana's

PR advisors said respectfully that Lizzie's refusal to comment or show any concern over the death of a person everyone knew she disliked could boomerang badly on "The Firm", as the Royals refer to themselves. It could damage the Windsor 'brand'.

Even though Princes William and Harry had just lost their mother, Liz believed it was all a Family Thang and, yo, that bitch be dead and nobody should be gettin' up in they business -- and while I doubt The Queen would have described her feelings in quite that way, that's pretty much the essence of it.

But, Liz understands duty; yes, she does; and in quick succession she taped an address to The Nation, saying how sorry sorry sorry she was at the passing of Diana. On the day of the funeral, she worked the rope lines and spoke to a few of the crowd. And, standing at a Buckingham Palace gate as Diana's coffin went past, bowing her head -- a nod, really, but several times, just to make sure the cameras caught it.

A Queen bows her head to no one; and so the gesture was noted, approvingly, by the press. As it was meant to be. Liz did it for the Firm, The Brand. This is how the Game is played, and none better as Players than the British upper classes.

My opinion of Rupert's apology? You need to have a heart before you can say anything 'heartfelt'. Rupert's portrayal of an anguished, frail old man was one for the Palm d'Or -- the finest acting job of his life.

It's all about the Outcome, the maneuvering for position; nearly a requirement in business or organizations. Not so much when it calls for being honest, or accurate, or real -- and Rupert has built a business empire on lying, manipulation and deceit.

He's a true Press Baron out of the late 19th and early 20th century. He drove his businesses, personally. He provided the direction and was the role model for how to conduct yourself and succeed in his organization. Now that everything seems to have turned to shit, I'd tell Little Rupert to go and look in a mirror if he wants to blame someone.

An honest, heartfelt apology? To preserve his business empire through this crisis, and hand a huge fortune on more or less intact to his two sons and daughter, Rupert would have crawled on his wizened potbelly and eaten dirt to prove how sorry, sorry, sorry he was; so sorry -- if that level of abasement was required. It's all a matter of returns.

The Ad: Not Quite Up To Joey Goebbels' Standards, But Adequate

On the very same day he was playacting, Rupert's hired damage-control-machine kept up the pace: Full-page advertisements in every newspaper in England (even the few Rupert doesn't own!), using the same phrase: We Are Sorry. And, he did give one in-depth interview -- to his own Wall Street Journal. Sehr Nett; Sehr Schlau.
The boss himself did his own apologizing: but not before an interview on Thursday with The Wall Street Journal, a paper he owns, in which he defended the handling of the crisis and seemed to minimize the British paper’s wrongdoing.

But on Friday Murdoch apologized in person to the family of a 13-year-old murder victim, whose phone messages were hacked by News of the World staff. A broader gesture is planned for the weekend, when Murdoch will publish a full-page apology to all targets of his staff’s actions in all national papers in Britain, under the headline “We Are Sorry” in order to leave no doubt.
Sorry; sorry; sorry. Do you believe it? Well, it's up to you.

Little Davy Cameron, Rightist Prime Minister Of Jolly Olde England, who Hearts The New Austerity for his soon-to-be squeezed people, has tried to distance himself from the whole l'affaire Petit Rupert by actually going on the attack; championing an inquiry; demanding Something Must be Done.

Unfortunately, the "cozy and Comfortable" relationship between Britian's Right wing and Little Rupert's media empire has made him stain his pants, too. The NYT noted:
...Mr. Cameron’s aides released a diary of his meetings with executives and editors of News International.

The diary shed light on what Mr. Cameron acknowledged last week was the “cozy and comfortable” world in which politicians, the press and the police in Britain have functioned for decades... The diary showed that since taking office in May 2010, Mr. Cameron has met 26 times with Murdoch executives, including Mr. Murdoch; his son James, the top official of News International; and Rebekah Brooks, the former chief executive of the British subsidiary and editor of The News of the World, who resigned on Friday.

...Most of the meetings cited in the diary took place at the prime minister’s London headquarters at 10 Downing Street, or at Chequers, his official country residence northwest of London. His meetings with the Murdoch officials exceeded all those with other British media representatives put together....
(Wonder how many times Fox 'News' and News Corp executives were guests at The White House and the Crawford ranch, during the reign of "Lil' Boots' Bush? Just asking.)

Now, the FBI is conducting an assessment of reports (first revealed in the UK Mirror [plainly, not a Little Rupert newspaper] this past Monday) that the telephone records of victims in the September 11th attack on the Trade Center towers were hacked by either a former NYPD officer or a then-current NYPD lieutenant.

Two members of Congress requested a probe of the allegations; the NYT reported that the FBI's assessment (a preliminary investigative stage, where it's determined what records or testimony are necessary to establish if a crime has been committed) was under way, and also involved cybercrime specialists.

I'd like to predict (given how Little Rupert has done business, and his penchant for replicating similar business tactics) that some level of phone or email hacking has gone on in the U.S. as it did in Britain. Further, I'd predict that Fox broadcasting, and News Corp newspapers, were involved -- and that some amount of information was being shared with the Republicans or other conservatives.

I'd also like to say that would be the end of Little Rupert's right-wing stranglehold on America's media, and lessen his predatory, corrosive effects on the rest of the world.

But somehow, I doubt it. Because It's Chinatown, Jake.



Mehr: Little 'Becka Brooks, formerly the apple of Lil' Rupert's eye, was arrested last night by the same British police department News International's paper, 'The News Of The World', used to bribe. Per The New York Times:

'Becka And Lil' Rupert In Happier Times, When He Still Used
Hair Coloring (Photo: Reuters, via The Telegraph UK)
Britain’s Press Association news agency said she was arrested by appointment at a London police station at around midday and remained in custody...

It also came two days before Ms. Brooks was to join Rupert Murdoch and his son James to testify before a parliamentary panel investigating the phone-hacking scandal ... Ms. Brooks was editor of the newspaper at the time but has denied knowledge of the phone hacking...

Mr. Murdoch and his family still own the top-selling daily tabloid, The Sun, as well as The Times of London and The Sunday Times of London. He also has a 39 percent stake in British Sky Broadcasting [BSkyB].
"Arrested by appointment". Love to see the Calendar entry about that in her SmartPhone ("Therapist 2:00PM-3:00PM; Detention and Booking 4:30PM - ?") -- proof that even amazingly arrogant, mendacious and despicable people can use mobile telecommunications equipment that are smarter than they are.



Noch Einmal: Yesterday, Sir Paul Stephenson, Commissioner of the (National) Police Service, known as 'the Met', announced that he would resign as Britain's top uniformed police officer because "the ongoing speculation and accusations relating to the Met’s links with News International at a senior level" had made it "difficult for him to do his job.

It might have had something to do with the fact that Stephenson recently spent a vacation at a spa, worth $18,500 US, for free -- and that Neil Wallis, a former News of the World deputy editor, was then a public relations consultant for the spa.

Not long after The Chief got his spa trip, Wallis was hired, by Stephenson, as a public-relations consultant for the Metropolitan police. Wallis was arrested in the widening phone-hacking and police corruption case last week.

(I'm always amazed at how cheaply people are bought. It's a matter of record that American Congressmen and Senators are paid tens of thousands by corporations for their votes on issues worth tens or hundreds of millions to those same businesses.)

And on Monday morning, the NYT reported that
...John Yates, the deputy commissioner of London’s Metropolitan Police resigned, a day after Britain’s top police officer quit and Rebekah Brooks, the former chief executive of Rupert Murdoch’s News International, was arrested on suspicion of illegally intercepting phone calls and bribing the police.
This is where the real shock-and-awe of this crisis -- and it is one -- exists. Little Rupert and his parasitic business had, over the past twenty years, been the source of endless attacks on Labor and socialist politicians -- typich, for the Ol' Digger; it's what Fox does here for the American Right. At the same time, he and his people forged links with the police.

I don't think many Americans understand or appreciate the magnitude of what we're watching unfold in London. Murdoch and his media apparatus has apparently had pervasive and corrosive influence over British politics and institutions -- more than any private business concern should ever be allowed. They subverted democratic processes, bought the cops, and made the Right wing of British politics kiss his wrinkled behind.

Oh, the old Aussie must've loved it; I'll show you Pommy bastards who's in charge.



Oh, and my favorite part is where the leader of the Labor Opposition in the Commons, Ed Millbrand, "has taken a lead in assailing Mr. Murdoch’s operations, called for the breakup of News International, the British subsidiary of Mr. Murdoch’s News Corporation" (This, from the New York Times -- not the London Times, Aber natürlich). Ed called the newspaper group’s influence in Britain “dangerous.”

Indeed. I'd say that's a fair and balanced analysis.


Wednesday, July 13, 2011

Chairman Bernanke

Has Shocking Non-Economic Revelations


Federal Reserve Chairman Ben Bernanke reveals that he feels deeply about his refrigerator, toaster, and washer-dryer combo.


Cut 'n Run

Little Rupert's Newsy-Truthsy Corp Pulls Bid For BSkyB

Just as leaders of countries "signal" to each other through directions they give to their governments -- a trade bill allowed here, a statement by a foreign minister there -- what people do in times of crisis speaks to their character. So what messages are being sent in the current hacking scandal in Britain?

For Little Rupert Murdoch, five years old, his response to the final popping of the lid of the phone hacking crisis at News Of The World was to summarily shut the doors of the 168-year old paper. Bam See? No more problem.

Only, it was clear that there was a problem. And it included targeting the Liberal Prime Minister of England, Gordon Brown, who had succeeded Tony ("Bush's Poodle") Blair, to the extent of publicizing news that his then five-year-old son had been diagnosed with Cystic Fibrosis.

On top of all the revelations of identity theft, Met coppers paid off, investigations swept under the rug; dragging a little boy into the mud seemed emblematic of how Little Rupert does business.

Even the current Tory Prime Minister, Little Davy Cameron, has had to criticize Rupert just to save his own political hide. And it's not clear whether The Crafty Ol' Digger will be called to testify at hearings on the hacking scandal or not.

So, now, with his deal to purchase the monopoly on Britain's television in jeopardy, Little Rupert decided to drop the whole thing and back away.

The share value of News Corp stock has been slipping ever since the initial scandal regarding News Of The World was broken by the UK Guardian two weeks ago -- so Rupert announced to his shareholders, hey; no worries! News Corp will perform a buyback of some $5 Billion of its own stock, to artificially keep its price stable.

And, there's some talk that Little Rupert's Foxy News may have engaged in some of the same phone hacking and 'research' tactics in the United States, but nothing proven; it's early days yet. But I certainly hope so. I hope Little Rupert loses it all, and Roger Ailes has to beg for Twinkies and Ho-Hos (well, he does that now, anyway).

Recently, Paul Keating, former Prime Minister of Australia and no fan of Little Rupert, called Murdoch "a bastard, a bad bastard... and the only way you can deal with him is to be as bad a bastard as he is. That's all he respects, is strength."


Sunday, July 10, 2011

More Pain; No End In Sight

Guess We Need Little Sarah To Save Us

...or another straight-talkin' wingnut on a white horse.

It's been said by far too many dirty hippies that the real estate / CDO / CDS nightmare which America gave the world isn't over yet.

The efforts to stop the meltdown by temporarily shoring up the financial sector (both in America and Europe) succeeded, and gave Dogs like me an opportunity to bark on the sideline about protecting the Owner Class and the Banksters.

However, the $1.2 Trillion US given to our financial sector between the Crash and the end of the Obama 'Stimulus' -- and the subsequent bailing out of French, German, Irish, Swiss and British banks -- has only slowed the rate of collapse, because all the overvalued securities are still out there. All the Credit Default Swaps have piled up since.

When the Market rallied in mid-2010, every trader and hedge fund manager jumped in (they had to; their clients would've fired them if they hadn't). Now, most investors (including 401(k)s, mutual funds, pension plans, etc.) have stock-heavy portfolios and are at risk if the Market falls.

Bonds are just as risky for different reasons: There literally is no safe investment haven, now -- except (Glenny Beck will be so pleased), possibly, gold. When it ingested the American CDO/MBS's, the interconnected global financial system took a slow poison, and no one knows if it will die from having done so, or not.

All the effort so far has been to find a way to 'unwind' the debt, to pay it off but it can't happen fast enough. The only plan so far -- and it's not much of a plan -- is to have governments pay money to the Banksters, taking on their debt. Then, to force huge budget cuts upon their people, so that what was the failure of greedy individuals (and should have remained so) translates into reduced standards of living for whole populations. Meanwhile, the wealthy continue to live essentially as they did before.

Want to know how interconnected and bad it actually is? Read a Swiss financial advisor's analysis. And for what it's worth, it won't matter whether nations use fiat currencies or have a precious-metals-based monetary system; past a certain point, the political effects of economic declines are the same even if the financial mechanisms to solve them differ.
It seems that the trigger, in terms of an unwind, whether it is the credit default swap market, or something causing default in an individual country, may be democracy -- where people say, We can’t bear these austerity measures, and whatever government is going to impose them on us is a government that has a very short shelf life. Give us another election and you are all out, every one of you. It seems perhaps the instability is in the people, themselves, who won’t stand for the pain.
I'm not alone in believing we're closer to some 1930's-style political upheavals in the world than we think, and America isn't immune from that history. Human nature hasn't changed much in seventy-eight years, either; at some point, the economic pain will be so severe that a political breakdown becomes inevitable.

The last time the world was in this extreme a crisis, it ended up with Hitler, Tojo, the Holocaust, and the Rape of Nanking. The Second World War was, unfortunately, the cure for America's Great Depression.

We haven't reached bottom yet. Timmeh's trying to tell us that there literally is no end in sight to this financial crisis, worldwide, and no telling what will happen to us, collectively or individually.



Mehr: An Op-Ed at The Economist ("Debt Reduction -- Handle With Care"), says frankly that the process of unwinding the debt (aka 'deleveraging') in what was once called the industrialized West will take years.

It seems that the most hopeful prognosis of the analysts is that the U.S. and Europe enter into a slump, even worse than we're currently in (but no way to know how bad). High unemployment will continue, as will weak GDP expansion, and political turmoil in countries where the New Austerity is jammed down the throats of their populations.

Eventually, after perhaps a decade (no one really knows), things may begin to 'pick up' -- but between now and whenever that is, the lives of hundreds of millions of people will be reduced in quality, and their expectations for themselves and their children likewise will have to be lowered. It will look and feel very much like the 1930's -- there will be the same tiny Owner class, not much of a 'Middle' class, and the vast majority of people "just scraping by".


See You Under The Bus

The Weak Culls

(Skip Williamson, "Coochy Cooty", ZAP Comix / 1968)
FOR IMMEDIATE RELEASE
The White House
July 9, 2011

Statement from White House Communications Director
Dan Pfeiffer on Budget Negotiations

The President believes that solving our fiscal problems is an economic imperative. But in order to do that, we cannot ask the middle-class and seniors to bear all the burden of higher costs and budget cuts. We need a balanced approach that asks the very wealthiest and special interests to pay their fair share as well, and we believe the American people agree.

"Both parties have made real progress thus far, and to back off now will not only fail to solve our fiscal challenge, it will confirm the cynicism people have about politics in Washington. The President believes that now is the moment to rise above that cynicism and show the American people that we can still do big things.

And so tomorrow, he will make the case to congressional leaders that we must reject the politics of least resistance and take on this critical challenge.
What this Kabuki, puppet-show, manufactured crisis comes down to is political posturing. It's about taxation, and how things are spun by Politico and Drudge and Little Davy Brooks in a media that only the Potomac elite pay attention to.

Both sides have publicly agreed that reducing the deficit and the National Debt are extreme priorities. They also agree (and have said so) that a default on the financial obligations by the United States government resulting from a failure to raise the nation's debt ceiling won't be allowed to happen.

What this is actually about is who will pay for reducing the National Debt over the next ten years. Will it be Corporations (multinationals, mostly, who don't give a toss about America or any other single country)? Will it be the Owner Class, who will have to make do with only two vacation homes, and smaller boats, and can't do whatever they want -- quite so often?

Or will it be Oma and Opa, who may have to eat cat food four times a week, rather than two? And kids with more melanin than President Boner and President Yertle The Turtle, who suddenly have no community center (Well, Boner thought they'd just join gangs anyway)?

This is about taxation -- that's the difference between Obama's $4 Trillon-dollar, 10-year plan, and the Rethug's $2 Trillion-dollar ten-year plan. And the Thugs have said the Owners are untouchable, and that they, and Corporations, can't be expected to pay for filthy liberal spending programs that only benefit a bunch of whining peasants anyway. This is where both sides stand.

However, both sides apparently already agree that Social Security and Medicare are going under the bus -- it's only a matter of to what degree the programs will be cut, and which age cohort will be asked to sacrifice. And, spending programs will have to be cut.

So it seems the only People being asked to sacrifice in any real way are... the People. Not the Owners, or Corporations -- you, and me.

For the good of the nation. Just like the financial sector bailout, the lender-friendly HAMP program, and three wars. Because Obama and his team of crack experts can't be bothered to fight for The People. They have an election in 2012 to win, and that takes money and support -- which is in the hands of the Owners, and Business.

All of it -- the greed and stupidity leading to a real estate bubble and financial crisis that could have been avoided; the strutting, arrogant mendacity of the Right, and the weak, parsimonious flailing of the Left -- all of it, disgusting, and with no end in sight, no real leadership on the horizon, either. Between arrogant greed and impotent empty promises, the game seems fixed.

Später: That was pretty relentlessly depressing, wasn't it? Well, here's a picture of a cute animal to take your mind off what's coming:

Obligatory Cute Small Animal Photo At Conclusion Of Blog Rant


Friday, July 8, 2011

Still Want To Use The Word 'Recession'?

The Greedy Clowns In Charge

(© 2011, Calculated Risk; Click For Big Graphic; Easy And Fun!)

Unemployment is now at 9.2%, up a tenth of a percentage point (please remember that these figures represent real, live human beings -- our government has forgotten this). Bill McBride at Calculated Risk notes that
There were few jobs created in June (only 18,000 total and 57,000 private sector). The unemployment rate increased from 9.1% to 9.2%, and the participation rate declined to 64.1%. Note: This is the percentage of the working age population in the labor force.

The employment population ratio fell to 58.2%, matching the lowest level during the current employment recession.

U-6, an alternate measure of labor underutilization that includes part time workers and marginally attached workers, increased to 16.2%, the highest level this year.

The BLS revised down April and May payrolls showing 44,000 fewer jobs were created than previously reported...

There are a total of 14.1 million Americans unemployed and 6.3 million have been unemployed for more than 6 months. Very grim numbers.
As The Great Curmudgeon says, our Leaders will take this as a sign to start cutting spending -- to them, these numbers and the trend they represent could obviously have no other meaning.


Thursday, July 7, 2011

True Colors

Hopey-Changey: I'm Done

A Cartoon By Mr Fish (Harper's magazine online)

It isn't just his continuation of the Bush-era signing statements and expansion of Presidential power; his continuation of secret electronic surveillance programs very possibly in violation of the Constitution; his refusal to place additional stimulus (e.g., job creation) over giving the Banksters whatever they want; his refusal to use infrastructure rebuilding projects across the country as a means of jump-starting the economy by providing jobs; his continual giving in to the Rethugs, seeming determined never to stand up to them -- as if he were a caricature of a spineless, liberal politician.

America since December of 2000 has been little more than a string of failures, of manifest greed and judgement so poor as to be truly evil -- an anti-American dream, ending in poverty, inequality and the end of Law and Reason. Our Republic seems bound (our karma? Who knows) to continue spiraling down into a shadow of what we could have been: The beginning of the End Of Empire.

Instead of real leaders, we'll end up being led by a succession of squalid, vicious, anti-intellectual tools of of the Owner class, the Palins and Bachmanns, dreaming of "restoring our greatness" -- as the gulf between the fantastically wealthy and everyone else in America becomes more nakedly apparent than it has been since the late 19th century. Our laws will continue to be determined by men who are (like the blighted Clarence and the smug, rabid Tony) poor scholars and narrow ideologues.

What makes it even more bitter is the past two years of wasted opportunity to Do Right, when the Right was so clear. And Obama's stubborn, even enthusiastic, willingness to do Wrong, when the Wrong was so obvious.

Now, as a continuation of the same pattern of behavior, Obama has said publicly that Medicare and Social Security will be cut (though he doesn't use that word) in reaching a "compromise" with the Rethugs as they threaten to implode the American economy.

If that's so (and I have no reason to believe otherwise, given the evidence of his past behavior), he'll give the Thugs whatever they want, as he gave the Banksters -- but he'll do it without my vote.

(Cartoon: Mr Fish, Harper's)

From Brian Beutler, Talking Points Memo:
Multiple senior House Democratic aides tell TPM that caucus members were caught off guard by news stories about President Obama's push for deeper deficit and spending reductions -- and particularly about the White House's willingness to cut Social Security as part of a grand bargain to raise the debt limit.
Paul Krugman in the New York Times noted,
It’s getting harder and harder to trust Mr. Obama’s motives in the budget fight, given the way his economic rhetoric has veered to the right. In fact, if all you did was listen to his speeches, you might conclude that he basically shares the G.O.P.’s diagnosis of what ails our economy and what should be done to fix it. And maybe that’s not a false impression; maybe it’s the simple truth...

...it’s hard not to get the impression that he is now turning for advice to people who really believe that the deficit, not unemployment, is the top issue facing America right now, and who also believe that the great bulk of deficit reduction should come from spending cuts. It’s worth noting that even Republicans weren’t suggesting cuts to Social Security; this is something Mr. Obama and those he listens to apparently want for its own sake.
And, reposted from The Big Picture, by Barry Ritholtz:
On election night [in 2004], I wrote The Tragedy of the Bush Administration. In it, I despaired that:
Once in a generation, the stars align for a political leader. There is this perfect moment – too often based on some enormous danger of long-lasting consequences for generations to come.

Once every half century, the perfect combination of leadership and threat, of challenge and response meet. The leader – imperfect, fallible, yet ready to rise to the occasion – grabs the brass ring.

Think Winston Churchill fighting the global threat of the Nazis, Thomas Jefferson writing the Declaration of Independence, JFK’s dare to send a man to the Moon...
The rest of that piece went on to lament how George W. Bush was granted that rare opportunity to grab the brass ring, to rise to the occasion — and failed miserably.

Here we sit, not half a century later as originally surmised, but a mere six years later. I once again find myself lamenting the opportunities wasted by a US President in response to a great cataclysm. In the case of President Obama, it was his response to the financial crisis. The opportunity for greatness presented itself, and was ... ignored.

The President was swept into office on a wave of Anti-Bush sentiment. The stock market was in freefall, credit was frozen, the recession already 13 months old. As Rahm Emanuel said, “Never waste a good crisis.” A strong leader would have taken advantage of the moment, of the opportunity...

... as the finance sector got larger and more important, it was paradoxically under ever less scrutiny, supervision, and regulation. With that new found freedom from oversight, the banks promptly blew themselves, and the global economy, to smithereens.

What did [Obama] do in this scenario?

• He appointed two of the architects of the crisis to major White House economic positions: Lawrence Summers as CEA Chair, and Timothy Geithner as Treasury Secretary.

• He made the enormous tactical error of focusing on Health Care Reform, while the banking crisis was still in full flower.

• He failed to marshal adequate resources to respond to the worst economic recession since the Great Depression.

The first item damned him to a mediocre economic team, one that failed to respond strongly to the banks that created the crisis. The second error earned him the enmity of the opposing party. The third error was political, and likely cost him the House, and possibly the Senate.

(Cartoon: Mr Fish, Harper's)

The great irony is that the man who ran on the campaign slogan of Change failed to deliver it in any meaningful way — at least, where the public wanted it — in getting the reckless runaway banks under control, and in stimulating the moribund, post-credit crisis economy...

The opportunity existed to get the renegade banks under control — to reduce their leverage, their recklessness, and to get their hands out of the taxpayers pockets.

That opportunity was squandered, and Obama ended up as a defender of the banking status quo. It is where his presidency could have achieved lasting greatness, and instead was turned into just another elected official, who over promised and under delivered . . .