Daily Archives: March 28, 2014


Flight 370 The CIA Hoax: Gordon Duff

Press TV has the story Flight 370 The CIA Hoax: Gordon Duff.

The CIA along with Joint military commands set up during the Global War on Terror, tracked Flight 370, monitoring it continually, monitoring the murder of its passengers, monitoring its landing, monitoring its refueling and know exactly where it is.
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Sources claim the plane landed on Diego Garcia, was refueled, dead passengers “disembarked” and was moved elsewhere?

Is this a better explanation than flying to the South Pole hidden from the world through multiple simultaneous failures of safety, communications, counter-hijacking and autopilot systems?

 If you decide you want to believe this story, then do not use Google to find out who Gordon Duff is.

On the other hand, you can read my previous post Conjecture On Where That Plane Really Is. No doubt, there are some who think I am as wacky as Gordon Duff.


Why Minsky Matters

New Economic Perspectives has the article Why Minsky Matters.

American economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: “Stability is destabilising”.

The link to BBC Radio 4′s Analysis program episode on Minsky is the prize for reading the article.

American economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: “Stability is destabilising”. But TUC senior economist Duncan Weldon argues it’s a radical challenge to mainstream economic theory. While the mainstream view has been that markets tend towards equilibrium and the role of banks and finance can largely be ignored, Minsky argued that in the good times the seeds of the next crisis are sown as the financial sector engages in riskier and riskier lending in pursuit of profit. In the aftermath of the financial crisis, this might seem obvious – so why did Minsky die an outsider? What do his ideas say about the response to the 2008 crisis and current policies like Help to Buy? And has mainstream economics done enough to respond to its own failure to predict the crisis and the challenge posed by Minsky’s ideas?

Those of us like myself, who learned our economics in the early 1960s when Keynesian ideas were still being taught, are mystified why Minsky’s insights should be so shocking and outside the mainstream.  I guess it helps to have been in a career that had nothing to do with academic economics so that I avoided having been infected by people who thought that they had better ideas than Keynes.

Having listened to this interview, I know better understand the need for the diatribe in the Naked Capitalism article Philip Pilkington: How Krugman’s Addiction to the ISLM Model Has Led to Repeated Bad Forecasts.

Before that article, I was even less sure of the reason for the animus in the article The Government Hack Trying to Squash Discussion of Government Corruption – Cass Sunstein – Doesn’t Understand BASIC Math Or Law.

I might not have had the fawning idolatry for Krugman and Sunstein as some did, but I did have (and still do have) respect for some of their ideas.


Papantonio: Hobby Lobby Is DOA

The Daily Kos has the article Papantonio: Hobby Lobby Is DOA.

It would end Corporate Indemnity. Or as Mike Papantonio says, it would completely alter corporate law on such a grand scale, “It would pierce the corporate veil,” and allow law suits to proceed against the owners of a corporation for the illegal or negligent acts of the corporation.

Here is the interview:


It almost makes you wonder if we should hope that the Supreme Court does decide in favor of Hobby Lobby.