Thomas Friedman’s Big Idea for Hillary: Embrace Wall Street and Deregulation

William K. Black
August 7, 2016     Bloomington, MN

Thomas Friedman’s economic illiteracy and sycophancy for Wall Street “elites” have never been in doubt, but he has (unknowingly) plumbed new depths in his columns advising Hillary Clinton to remake the Democratic Party in Bill’s image – by embracing Wall Street’s dream of deregulation.  Friedman has literally learned nothing from the three great epidemics of accounting control fraud (“liar’s” loans, inflated appraisals, and fraudulent resale of these fraudulently originated mortgages) that drove the financial crisis and the Great Recession.

In other columns in this series on Friedman’s columns advising Hillary on moving the Democratic Party well to the right of the Republican Party on economic issues, I show that Friedman has literally learned nothing from the successes of stimulus, education, and infrastructure, the horrific failures of austerity and deregulation, or his repeated distortion of “capitalism” and “socialism.”.  Friedman gives no indication that he realizes that (1) his economic dogmas were all falsified by our recurrent financial crises and (2) the policies implemented on the basis of those dogmas proved disastrous.

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Another Dimension

By Thornton “Tip” Parker

As NEP readers know, the economy consists of  private, government, and foreign sectors.  Financial flows among the sectors always add up to zero; that is, one sector’s deficits must be offset by surpluses in either or both of the others.

If the private sector imports more than it exports, ignoring investment flows, it will run a financial deficit while the foreign sector runs a surplus and the economy will then slow down as money in the private sector becomes scarce.  Unless the trade deficit is reduced, the only way to keep the economy running is for the government to run large deficits, as is it is doing now.  While few people understand the sectoral view of the economy, many are aware of problems that this one-dimensional view does not explain.       Continue reading

Michael Eric Dyson’s Blood Libels and History

Part 5 of my series on Race, Crime, and Policing

William K. Black
August 5, 2016     Bloomington, MN

I explained in my two prior columns the blood libels against “whites” as a race and law enforcement officers (LEOs) made by the sociologist Michael Eric Dyson.  Dyson was particularly vitriolic in complaining that whites refused to “condemn” LEOs who shot blacks until they knew whether the LEOs had acted criminally or even improperly.  Dyson portrays this adherence to due process and the rule of law by whites as an outrageous moral failure.  This column explains two famous incidents that played critical roles in shaping our society’s view that we should celebrate the moral courage required to maintain respect for due process in circumstances where much of the public is baying for its destruction.

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Michael Eric Dyson’s Blood Libels and the NYT’s Hypocrisy

Part 4 of my series on Race, Crime, and Policing

William K. Black
August 2, 2016     Bloomington, MN

Part 3 of this series began the explanation of the hypocrisy of the New York Times in its treatment of the sociologist Michael Eric Dyson’s blood libels against police and whites as a race.  Part 3 focused on the terrible timing of Dyson’s op ed in the NYT.  The ambush murders of Dallas law enforcement officers (LEOs) falsified Dyson’s blood libels while the ink was still figuratively wet on his op ed.

I first need to reprise for the reader the NYT’s hypocritical attack on former NYC mayor Rudy Giuliani while ignoring Dyson’s blood libels.

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TRUMPBUSTERS: WHO YOU GONNA CALL?

Randall Wray, Bard College

For months now, the Hillary campaign has vigorously argued that Bernie supporters have to fall in line to support the Democratic National Committee’s favorite candidate. Anyone not willing to jump to Hillary is a “Bernie Bro”—not willing to vote for anyone but Bernie. Why? Because, Trump. Forget the will of the people, the democratic process, or “voting one’s conscience”—Trump trumps all hesitation. We simply cannot afford to give Trump any chance of winning.

We need a Trumpbuster. Who you gonna call?

Hillary Clinton or Jill Stein?

Before reading any further, please first watch (or read) this debate between Bob Reich and Chris Hedges:

Who Should Bernie Voters Support Now?  Democracy Now! 27 July 16

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How Dallas Exposed the Blood Libels of the Police and Whites in the New York Times

Part 3 of my series on Race, Crime, and Policing

By William K. Black
July 31, 2016     Bloomington, MN

This is my third installment in my series of columns about race, crime, and policing.  I chose as my initial example of dangerous blood libels a New York Times contributor’s op ed.  I use also a NYT editorial about blood libels involving crime and race that demonstrates the editorial board’s hypocrisy and analytical failures.

The New York Times Spreads a Blood Libel Against LEOs and Whites

On July 11, 2016, the editorial board of the New York Times denounced a man for propagating “racial myths,” through a “garbled, fictional statistic,” “false equivalencies,” “defam[ation],” and “race-baiting.”  There were only three problems with the editorial.  First, the man they were denouncing made his unscripted remarks on an interview program, while the New York Times invited one of their editorial contributors to write an op ed dated July 7, 2016 that exemplified the characteristics that the editorial denounced.  The writer of the op ed presented no data, so he did not present a fictional statistic.  The racial myths, race-baiting, and false equivalencies of the op ed were so much worse than the talk show participant that his defamation degenerated into blood libels against LEOs and whites as a race.

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Policing as a Tool of Systemic Racism

Part 2 of my series on Race, Crime, and Policing

By William K. Black
July 31, 2016     Bloomington, MN

My introductory column in this series laid out the blood libels against police, policing, blacks, and whites that are doing so much harm to America.  This second installment provides a brief historical overview necessary to begin the discussion about the blood libels against Black Lives Matter, law enforcement officers (LEOs) and whites as a racial group.  I repeat my warning from my introductory installment that criminology produces hard truths and nuanced explanations that upset almost everyone.

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Three Blood Libels About Whites, the Police, and Black Lives Matter

By William K. Black
July 28, 2016     Kansas City, MO

The best way to lose friends and be vilified in America is to talk frankly about race, racism, violent crime, politics, gender, Black Lives Matter (BLM) and prosecuting police officers.  I am writing a series of articles on these subjects.  In the course of this series I employ my “hats” as criminologist and a professor who teaches economics, law, and regulation plus my spousal hat where I draw on my wife and her co-author’s work on employment and marriage.  As criminologists, we are used to upsetting people from all parts of the political spectrum.  The one-sided stories that dominate the discussion of these difficult issues virtually always deliberately exclude unpleasant and analytically critical truths long documented by criminologists.  I hope to show you how my field has found the answers to the challenges of policing in the United States to be complex and often paradoxical.

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Morality, Modern Money, and Climate Mobilization

By Michael Hoexter
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Bill Black on The Real News – Boris Johnson

NEP’s Bill Black appears on the The Real News with Sarmini Peries discussing Boris Johnson. Johnson’s demonization of the EU and virtually all of its leaders in his role as an alleged journalist makes him the worst conceivable person to put in a top diplomatic post. Video below. Transcript available here.