Review: Leverage – How Cheap Money Will Destroy the World

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Karl Denninger
5.0 out of 5 stars STRONG FIVE – Original, Award-Winning, Major Contribution, February 5, 2012

On the very last page of the book I learn that the author received the Reed Irvine Accuracy in Media Award for Grassroots Journalism, for his coverage of the 2008 market meltdown. This confirms my own already formed very high estimation of the author and his work. In fact, although I normally do links at the end of the review, let me open with some other books that are world-class and within which I place this work as comparable:

The Battle for the Soul of Capitalism
The Soul of Capitalism: Opening Paths to a Moral Economy
Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History
SAVAGE CAPITALISM AND THE MYTH OF DEMOCRACY: Latin America in the Third Millennium
Democracy Incorporated: Managed Democracy and the Specter of Inverted Totalitarianism (New in Paper)

Here is the author’s three-line conclusion to the longer chapter that ends the book (my own notes in parenthesis):

01 Federal and state governments KNEW what was going on, and are COMPLICIT. (This introduces me to the reality of “control fraud,” where the government commits impeachable acts that are not sanctioned; I also learn in this book that when Congress passes laws it does not include sanctions for failure by the GOVERNMENT to uphold those laws.)

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Feb 5

Review: Anyone That Works for a Living and Votes Republican is an Idiot

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Clyde Coughenour

5.0 out of 5 stars Alternative Perspective, Very Naive on US Reality, January 30, 2012

I *like* this book. I’ve been running for the Reform Party nomination for President (there were three of us, now there are two, and I might drop out soon if I get a federal job and the Hatch Act kicks in). I mention that mostly to emphasize that everything I have learned in the six weeks I’ve been registered with the Federal Elections Commission (FEC ID C00507756) is relevant to the second half of my review. This book came to my attention via a press clipping service that helps me follow any mention of a third party — this book calls for a new third party Of, By, and For Workers — we used to call that Communism (just kidding), but seriously, the last part of my review is a pitch for what workers should do if they really want to take charge, as workers finally did in Norway and Sweden (it took them 25 years).

I would normally rate this book at four stars, there is a lot missing, but I have to say that in terms of earnest honest patriotic down-to-earth common sense and indisputable pro-labor attitudes, this book is solid, so I am putting it at five stars and linking below to some books that add the missing “weight” to this read. My reviews of all of the books I list are summary in nature, to help those with little time or little money.

The book is scattered, providing snapshots of all of the issues, showing very clearly where neither party, but especially the Republicans, can be trusted to look out for workers. Politics is theater–nothing is decided in the open, the real deals are behind closed doors and the taxpayer ALWAYS loses. I certainly give the book high marks for distilling a very complicated corrupt mess into a simplified structure, and I totally agree with the author that there are no reliable statistics from the government or corporations, but let me give you three that matter:

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Jan 30

Review (Guest): ECONned – How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism

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Yves Smith

5.0 out of 5 stars ECONNED,March 3, 2010

M. M. Thomas (Brooklyn) – See all my reviews

I’ve written quite a bit about the financial crisis, and God knows I’ve read nearly every book on the subject, and I have no hesitation in saying that if there is one book that gets it whole, and gets it right, and is THE book for the intelligent, thoughtful reader to turn to, it is ECONNED. This is not an anecdotal recitation of deal gossip (like, for example, Sorkin’s book); it’s not “source-based” journalism reflective of the way certain participants in the dire events that unfolded in 2007-2009 wish themselves to be seen. It lays out, in what is easily as clear, as direct, as smart and with as much force of fact as any financial writing today how exactly the fun and games that have nearly wrecked our economy and the lives of so many of us went down. Yves Smith is, unlike so many other writers feeding off the crisis, writing about it from the inside: with an unfailing grasp of where the details (where the devil lurks) fit into the larger pattern of financial perfidy and destruction, in this Doomsday Machine that Wall Street put together. The intelligent reader will understand that if you want to know why you’re suffering from acute ptomaine, you have to understand what went into the sausage you got it from. And then you have to be made to see plain the kind of restaurant or market that serves up this toxic offal. And then the regulatory failures that allow such places to be licensed. We have undergone one of the great crises in this nation’s history. It needs to be seen plain and understood. Deadline-driven blahblahblah won’t get the job done. But ECONNED does. I cannot recommend it highly enough.

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Jan 23

Review (Guest): World in Crisis – The End of the American Century

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Gabriel Kolko

5.0 out of 5 stars Simplify, Simplify, Simplify,June 22, 2009<

By Tracy McLellan (Chicago) – See all my reviews

One could almost condense the whole of Kolko thought into a single sentence: “Political problems have political and social, not military solution.” He says this at least four or five times in the current volume, as he has even more often previously. A common criticism of Kolko is that he’s repetitive. This doesn’t speak to the fact that the deafening silence with which his work is greeted is a far harsher, and equally invalid, criticism. Kolko’s alleged repetitiveness is more grasp of nuance and comprehensiveness than it is lack of imagination.

World in Crisis: the End of the American Century is an implicit rejoinder to what Kolko himself calls the lunatics in the Bush regime. It is the typically unique type of excellence in political observation I, at any rate, expect of Kolko. The essays in the current volume are a second, yet enduring draft of history reviewing the political turmoil of the last four or five years. They examine the financial crisis, US foreign policy, Israel, the current and historical US alliance system, US intelligence agencies, and other US policies. The essays have appeared previously on ZNet, [...], Counterpunch, in anthologies, and elsewhere. All of them are updated for this book, because, as Kolko notes, they become obsolete almost as soon as they are published due to the accelerated trajectory of geopolitical, technological, financial, and sociological events.

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Jan 21

Review: The Military Industrial Compex at 50

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5.0 out of 5 stars America Desperately Needs More Illumination Such as This January 16, 2012

I received a review copy of this book [note to publishers: always ask first] and was glad to be offered a chance to read something as important as this. America desperately needs more illumination on the corruption in our government, and the evil done in our name without our permission but very much at our expense.

As a career veteran of the national security community–the Marine Corps and the Central Intelligence Agency–followed by seventeen years teaching 90 governments — 66 directly — how to get a grip on Open Source Intelligence (OSINT) that provides 95% of what we need to know at 2% or less of the cost of what we spend now on secret intelligence–I am well-qualified to read this book from a patriot’s point of view.

A strong national defense capability does NOT exist in the USA today. Posturing fools such as Senator Rick Santorum have no idea what they are talking about when they seek to discredit those of us who do. The infantry, four percent of the force, takes eighty percent of the casualties and receives ONE PERCENT of the Pentagon budget. Within the other 99%, half–at least–is fraud, waste, and abuse that makes America weaker, not stronger.

This book, edited by David Swanson, is a very good deal at $25. Its 368 pages include chapters from thirty other authors besides the editor, and include contributions from Ray McGovern and Karen Kwiatkowski, whose work I have admired in the past. If there were one flaw in the book, but not so serious as to lose a star, it would be its isolation from the pioneering work done by Pierre Sprey, Chuck Spinney, and Winslow Wheeler, with a genuflection toward John Boyd, the real pioneer of smart sufficient national security.

What is uniquely valuable about this book, something I have not seen elsewhere, is its provision of a holistic examination not just of the military-industrial process and fraudulent, wasteful, abusive bad design, bad performance, and bad cost, but of the costs that the military-industrial complex imposes on all of us and our economy and our society. This is a world-class book that should be translated into other languages to help others avoid our long-running mistakes.

Here are the blinding flashes of solid insight that stayed with me and merit the broadest possible public understanding:

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Jan 16

David Swanson: Recommended Book on Green Earth

David Swanson

How Much Is an Earth, and Do You Have One in Extra Large?

A new book suggests that “It’s the economy, stupid,” may be more than political strategy; it may also be the key to environmental sustainability. The book is Green Washed: Why We Can’t Buy Our Way to a Green Planet, by Kendra Pierre-Louis. The argument developed is not just that the consumer choices of an individual won’t save the planet without collective action, but also that the only collective action that will save us is abandoning the whole idea of consumer choices.

Pierre-Louis lays the groundwork for her argument by walking us through the hazards of supposedly environmental approaches to numerous fields. First is clothing, in which a big trend is toward organic cotton. While reducing pesticides is all to the good, Pierre-Louis writes, growing cotton — any cotton — is a rapid way to exhaust the earth’s stores of fresh water. Among the preferable proposals the author suggests is creating or altering your own clothing so that it means more to you and you throw it away less rapidly. The low-hanging fruit in improving our clothing practices is in quantity, not quality: buy less clothing!

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Next comes diet. Our poisonous farming practices are killing the Mississippi River, exhausting our underground water supplies, drying up the Colorado (on this I recommend the 3-D movie “Grand Canyon Adventure”), eradicating biodiversity, eliminating soil, and consuming fossil fuels. Genetically modified crops are outrageous failures on their own terms, resulting in increased, rather than diminished, use of pesticides and herbicides. Last week, I would add, the Obama administration approved new Monsanto corn despite 45,000 negative public comments and 23 positive, corn that will mean the widespread use of a major ingredient in Agent Orange as herbicide. According to Pierre-Louis, we cannot ethically shop our way out of this, not even by buying local, and we couldn’t even if products were meaningfully labeled and the accuracy of the labeling was verified. Instead the easiest solution lies in the fact that, in the United States, we throw away 40 percent of the food we buy. Stop doing that! Start buying and using only what you need.

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Jan 13

Review (Guest): Corporations Are Not People – Why They Have More Rights Than You Do and What You Can Do About It

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Jeffrey D. Clements

5.0 out of 5 stars It’s Worse Than We Thought But More Easily Fixed Than We Imagined,January 8, 2012

David C N Swanson (Charlottesville VA United States) – See all my reviews<

This book should mainstream the campaign to end corporate personhood.

Clements traces the development of the legal doctrine of corporate personhood back long before the Supreme Court’s Citizens United decision two years ago this month, in particular to President Richard Nixon’s appointment of Lewis Powell to the Supreme Court in 1972. Led by Powell’s radical new conception of corporate rights, Clements shows, the court began striking down laws that protected living breathing persons’ rights in areas including the environment, tobacco, public health, food, drugs, financial regulation, and elections.

In 1978 the Supreme Court ruled that corporations had speech rights that prevented banning their money from an election, a conclusion that might have been nearly incomprehensible a decade earlier before the U.S. Chamber of Commerce and various corporate foundations began filling our public discourse with phrases like “corporate speech.” In 1980 Congress forbade the Federal Trade Commission from protecting children or students from junk food advertising and sales. In 1982 corporate speech rights in the U.S. Supreme Court overturned a state law that had attempted to block energy companies from promoting greater energy consumption. In the 1990s, the Monsanto corporation, whose genetically engineered drug was banned in many countries, won the right to include it in milk in the United States and the “right not to speak,” thereby overturning a law requiring that milk be labeled to indicate the drug’s presence.

Decision after decision has extended corporate rights to a position of priority over actual human rights on everything from food and water and air to education and healthcare and wars. The ground has shifted. In 1971 Lewis Powell argued on behalf of the cigarette companies that they had a corporate person’s right to use cartoons and misleading claims to get young people hooked on nicotine, and he was laughed out of court. In 2001, the Supreme Court struck down a state law banning cigarette ads within 1,000 feet of schools and playgrounds. The reason? The sacred right of the corporate person, which carries more weight now than the rights of the people of a community to protect their children … er, excuse me, their “replacement smokers.”

And why do corporate rights carry so much weight? One reason is that, as Clements documents and explains, “transnational corporations now dominate our government” through election spending. This is why a civilized single-payer health coverage system like those found in the rest of the wealthy nations of the world is not “practical.” This is why cutting military spending back to 2007 levels would mean “amageddon” even though in 2007 it didn’t. This is why our government hands oil corporations not only wars and highways but also massive amounts of good old money. This is why we cannot protect our mountains or streams but can go to extraordinary lengths to protect our investment bankers.

“Since the Citizens United decision in 2010,” Clements writes, “hundreds of business leaders have condemned the decision and have joined the work for a constitutional amendment to overturn expanded corporate rights.” You might not learn this from the corporate media, but there is a widespread and growing mainstream understanding that abuse by oversized mega-corporations has been disastrous for ordinary businesses as well as communities, families, and individuals. Clements’ turns out to be a pro-business, albeit anti-U.S. Chamber of Commerce, book.

And what can be done? We can build an independent, principled, and relentless Occupy movement and include as a central demand the amending of the U.S. Constitution to end corporate personhood. Clements’ book offers a draft amendment, a sample resolution, a collection of frequently asked questions (and answers), a list of organizations, websites, resources, books, and campaigns.

This is doable, and it is what we should do this election year so that in future election years we might actually have elections.

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Jan 9

Review: Delusional Democracy – Fixing the Republic Without Overthrowing the Government [

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Joel Hirschhorn (Author)

4.0 out of 5 stars Needs Updating, A Fine Start, Some Serious Mis-Steps,November 25, 2011

This is an important book, one of many about the downfall of democracy in the USA with some suggestions for action that are a mix of great ideas, out of date items, and a couple, such as Instant Run-Off, that I also fell prey to and have now been corrected on by the crowd-sourcing of the Electoral Reform Act of 2012 (easy to find online).

First off, the author was well-ahead of his time and this book joins four books in particular:

Grand Illusion: The Myth of Voter Choice in a Two-Party Tyranny
Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It
Breach of Trust: How Washington Turns Outsiders Into Insiders
The Broken Branch : How Congress Is Failing America and How to Get It Back on Track (Institutions of American Democracy)

Here is what the author himself summarizes as the key changes we need to make–I agree that Electoral Reform is the ONE THING that we can all agree on, but he has not availed himself of all of the expertise possible as I have in my open call for input, so we each lose one star–I wrote a book that was not focused on solutions, and he has written a book that needs to be updated and fleshed out.

A number of electoral reforms are necessary to rescue American democracy:

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Nov 25

Review: The KunstlerCast – Conversations with James Howard Kunstler

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Duncan Crary, James Howard Kunstler

5.0 out of 5 stars Unique in Its Own Right, NOT a Substitute for Long Emergency,November 20, 2011

THIS IS AN OCCUPY BOOK. It illuminates legitimate grievances being talked about by Occupy.

First, having read The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century, I urge anyone interested in this book to buy both. They are completely different. This book is not a substitute for the first book.

Second, although the “author” Duncan Crary takes great pains to minimize his role, I have dealt with massive transcripts and historical artifacts covering long spans and would say that he has done a heroic job–he has excelled–at pulling out “just enough, just right” pieces and ordering them into the following section (since Look Inside the Book is not available, I list them):

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Nov 20

Review: Who’s To Say What’s Obscene – Politics, Culture, and Comedy in America Today

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Paul Krassner

5.0 out of 5 stars Less Funny, More Provocative–Price is a WOW,November 20, 2011

First, a confession. I am 59 years old and had no idea who Paul Krassner was/is. The more I read through the book the more I marveled at his pioneering endeavors and their continuing relevance as Occupy struggles to find its voice and focus. So for all the folks that don’t know who Paul Krassner is, at under $3.00 this book is a WOW value, and I recommend it for that alone.

This is NOT a funny book. There are a few places here and there where one can see the deep tragic comedy possibility, but more than anything this is a very provocative book that beats a single theme: the obscenity of all that we allow to be done in our name, to our bodies and our environment, to our families, schools, economy, and the Republic itself. Obscene, they name is a two-party tyranny and a Congress so corrupt they shame every dictator (all 40+ of them, all but two “best pals” of the US Government) in their craven greed and lack of democratic integrity.

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Nov 20

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