Originally posted on Yanis Varoufakis:
Novelist Christos Tsiolkas (The Slap, Baraccuda etc.) wrote this piece (for the Australian magazine MONTHLY) from a Greek-Australian perspective (after the two of us had talked extensively over the telephone). Click on the photo above or…
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Originally posted on Phil Ebersole's Blog:
Like many people, I once naively believed that banks made a profit by lending money to people who would pay them back. I’m sure that is still the case with the many honest bankers still left in the world.
But in many cases, it is more profitable to make loans to people who can’t pay them back. The lender collects higher interest rates. Sometimes the loans are securitized and sold to suckers. Foreclosures are more profitable if the value of the underlying asset is greater than the loan.
And last, but not least, if the lender is large enough and politically powerful enough, a government will bail him out.
John Perkins, author of Confessions of an Economic Hit Man (which I haven’t read), gave an interview to a Greek radio station explaining how this works.
Essentially, my job was to identify countries that had resources that our corporations want, and…
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This is the conclusion I’ve come to as well, as far as identifying the problem — but being a lazy part time researcher of these things I didn’t know about George Lakeoff.
Notice that it is inaccurate to say the left “ceded important ground to the right”, but it is effective rhetoric in that it makes one read further.
The really big danger is that if you put enough effort into rhetoric over substance, it’s almost impossible to keep from falling into the “practical-effective rhetoric” way of thinking out of habit — i.e., you will start to believe the BS you are forced to come up with to compete effectively in politics.
Originally posted on Rise Up Times:
George Lakoff, a cognitive science professor at the University of California, Berkeley, argues convincingly that the left makes grave mistakes with regard to how it frames issues and by doing so has ceded important ground to the right.
truthdig.com July 28, 2015
From The Guardian
“The progressive mindset is screwing up the world. The progressive mindset is guaranteeing no progress on global warming. The progressive mindset is saying, ‘Yes, fracking is fine.’ The progressive mindset is saying, ‘Yes, genetically modified organisms are OK’, when, in fact, they’re horrible, and the progressive mindset doesn’t know how to describe how horrible they are. There’s a difference between progressive morality, which is great, and the progressive mindset, which is half OK and half awful.” … [George Lakoff, professor of cognitive science at the University of California, Berkeley] cannot keep the frustration out of his voice: the left, he argues, is losing the…
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Mohamed El-Erian is a prominent bond market figure, known for being co-leader of PIMCO, a pretty huge west coast bond fund, with ~ $2 trillion assets under management at its peak. More recently he is part of Pres. Obama’s team on global finance. He has a few somewhat unexpected words about the Greek situation.