Tuesday, April 21, 2026

Biden wanted to attack Iran too

From Caitlin Johnstone:

Former senior Biden advisor Amos Hochstein said during an interview on Sunday that the Biden administration had been preparing to bomb Iran if they had won re-election in 2024. 

Hochstein was asked by Face the Nation’s Margaret Brennan, “In July 2024 Secretary Blinken claimed Iran was one or two weeks away from having enough fissile material breakout capacity to eventually make a weapon if Iran had decided to do so. There were indirect negotiations that the Biden administration did, but it went nowhere. So when President Trump argues that he did what no other president would, is it just simply that the bill was coming due and it fell on his watch?” 

“I do think there’s a certain element to that, and that’s why I was supportive of President Trump joining in in June to take the strikes that we had thought internally in the Biden administration, we may have to take if there was a second term,” Hochstein replied. “We thought that the spring, summer of 2025 was probably, we may have to be there in the same place. And we did, we did war games. We did some practice runs on what it would look like to look into it, because that may have had to happen under our watch as well.” 

Hochstein, for the record, is an Israel-born IDF veteran who reportedly played a major role in the Biden administration encouraging Israel’s horrific bombardment of Lebanon in September 2024. And his narrative that an attack on Iranian nuclear facilities “may have had to happen” under a theoretical second Biden term is false. 

In March of last year, US intelligence chief Tulsi Gabbard testified before Congress that the intelligence community “continues to assess that Iran is not building a nuclear weapon and supreme leader Khomeini [sic] has not authorized the nuclear weapons program that he suspended in 2003,” contradicting both the claims of President Trump and of Antony Blinken the year before. 

But even if you accept that Iran was a nuclear risk, there was nothing stopping the Biden administration from simply restarting the nuclear deal that the Obama administration secured with Tehran in 2015. The JCPOA was working fine while it was in place; anyone who says otherwise is a lying warmonger. Trump and his handlers torched the JCPOA in 2018 because it was the primary obstacle preventing them from getting to war with Iran, and the Biden administration refused to reverse this move because they wanted war too. 

The Democrats were beating the drums of war for Iran well ahead of the 2024 election. Here’s an excerpt from the official 2024 Democratic Party platform explicitly attacking Trump for not going to war with Iran in his first term: 

“All of this stands in sharp contrast to Trump’s fecklessness and weakness in the face of Iranian aggression during his presidency. In 2018, when Iranian-backed militias repeatedly attacked the U.S. consulate in Basra, Iraq Trump’s only response was to close our diplomatic facility. In June 2019, when Iran shot down a U.S. surveillance aircraft operating in international airspace above the Straits of Hormuz, Trump responded by tweet and then abruptly called off any actual retaliation, causing confusion and concern among his own national security team. In September 2019, when Iranian-backed groups threatened global energy markets by attacking Saudi oil infrastructure, Trump failed to respond against Iran or its proxies. In January 2020, when Iran, for the first and only time in its history, directly launched ballistic missiles against U.S. troops in western Iraq, Trump mocked the resulting Traumatic Brain Injuries suffered by dozens of American servicemembers as mere ‘headaches’ — and again, took no action.” 

Kamala Harris, who controversially replaced the dementia-addled Biden as the Democratic candidate late in the race, labeled Iran the number one enemy of the United States. In their 2024 debate, Harris repeatedly slammed Trump for being too soft on America’s enemies and announced that she “will always give Israel the ability to defend itself, in particular as it relates to Iran and any threat that Iran and its proxies pose to Israel.” 

I’ve seen a lot of people trying to argue that Trump’s depravity in Iran proves everyone should support Democrats, but it’s clear the Democratic Party is just the more polite-looking face on the same evil power structure. 

The war with Iran was always planned. Analysts like Brian Berletic and Richard Medhurst have been laying out solid arguments that this American war is more about attacking the economic and energy interests of Russia and China in a last-ditch effort to retain planetary hegemony than it is about assisting Israel. This places the United States on a dangerous trajectory toward increasingly hostile escalations between nuclear-armed powers. 

These moves were planned years in advance, and would have been rolled out regardless of what impotent meat puppet happened to be wheeled into office in January 2025. 

You don’t get to vote out an empire. Whether or not the US will continue working to dominate the planet will never be on the ballot. We will continue seeing reckless US wars of immense human consequence until the empire falls, or until the American people bring the revolutionary change to their country that the world so desperately needs.

Monday, April 20, 2026

The Return of Full Employment Policy - Randall Wray

 An accompanying primer.

These Articles should help those who do not understand what a government is with monetary sovereignty and who do not understand Public/Federal Debt which does not operate as a household budget.



Bill Mitchell:  If you think you know what ‘debt’ is, read on
http://bilbo.economicoutlook.net/blog/?p=24850

Bill Mitchell:  There is no federal public debt problem in the US
http://bilbo.economicoutlook.net/blog/?p=15490

Bill Mitchell:  DEBT IS NOT DEBT
http://bilbo.economicoutlook.net/blog/?p=3346

Bill Mitchell:  Been searching for a public debt overhang - didn’t get far
http://bilbo.economicoutlook.net/blog/?p=26289

Bill Mitchell:  The US government can buy as much of its own debt as it chooses
http://bilbo.economicoutlook.net/blog/?p=25161

Bill Mitchell:  Direct central bank purchases of government debt
http://bilbo.economicoutlook.net/blog/?p=29140

George Monbiot: 1) Neoliberalism - the ideology at the root of all our problems 
https://goo.gl/LOferJ

George Monbiot:  2) Neoliberalism: the deep story that lies beneath Donald Trump’s triumph 
https://goo.gl/vHveSG

Warren Mosler:  “The Seven Deadly Innocent Frauds of Economic Policy” located here from Mosler's website:  https://goo.gl/xOeKRT 

 

Sunday, April 19, 2026

Austerity creates fascism

Austerity creates fascism

Cory Doctorow, April 12, 2026 [Pluralistic]
 

…”Austerity begets fascism” is one of those things that makes a lot of intuitive sense, but it turns out that there’s a good empirical basis for believing it. In “Public Service Decline and Support for the Populist Right” four economists from the LSE and Bocconi provide an excellent look at the linkage between austerity and support for fascists: Public Service Decline and Support for the Populist Right – Evidence from England’s National Health Service (pdf) Here’s how they break it down. Political scientists have assembled a large, reproducible body of evidence to show that “public service provision is crucial to people’s perceptions of their quality of life and living standards.” Good public services are the basis for “the social contract between rulers and the ruled” – pay your taxes and obey the laws, and in return, you will be well served. When public services go wrong, people don’t always know who to blame, but they definitely notice that something is going wrong, so when public services fail, people stop trusting the state, and that social contract starts to fray. They start to suspect that elites are lining their pockets rather than managing the system, and they “withdraw their support” for the system. Fascists thrive in these conditions. Fascists come to power by mobilizing grievances. By choosing a scapegoat, fascists can create support from people who are justifiably furious that the services they rely on have collapsed. So when you can’t get shelter, or health care, or elder care, or child care, or an education for your kids, you become a mark for a fascist grifter with a story about “undeserving migrants” who’ve taken the benefits that should rightly accrue to “deserving natives.”….

Saturday, April 18, 2026

The Real Story of Crypto

 

 

So...besides enabling ransomware, and significantly contributing to global warming, crypto corrupts our government.

 JFYI, China has outlawed crypto mining. 

Update: Bitcoin Gets A Dark Money-Backed Assist In Congress

Veronica Riccobene, Apr 13, 2026 [The Lever]
 

Bitcoin’s secret backers celebrate a bonanza. A dark money pro-cryptocurrency influence group with deep ties to Trumpworld is lauding a new Senate bill codifying President Trump’s plans for a crypto-boosting strategic Bitcoin reserve and onshoring Bitcoin mining. The Lever’s Freddy Brewster reports that the Satoshi Action Fund — a 501(c)(4) group that does not disclose its donors — has shared top personnel with the Koch network of right-wing think tanks and dark money nonprofits. That includes the Heritage Foundation, which published the Project 2025 plan to overhaul the government under Trump. An executive with the pro-Bitcoin group even wrote the Project 2025 chapter on dismantling the Environmental Protection Agency. A federal Bitcoin stockpile could boost the crypto token’s value to nearly $1 million a token, more than 10 times its current value — a massive giveaway to the largest Bitcoin owners, two percent of whom own more than 90 percent of all of the currency in circulation. The new bill was co-introduced by Sen. Cynthia Lummis (R-Wyo.), who is not seeking reelection after serving a sole term as a senator, during which she bestowed the title of “the Senate’s first and finest bitcoiner.”

  

Friday, April 10, 2026

MMT vs. Austrian Economics

Austrians want to make microeconomics the foundation of macroeconomics. Sonenshein, Mantel and Debreu proved, mathematically that micro is unsuitable as a foundation of macro. Two plus two would have to equal five before Austrians could be true.

Microeconomics: Savings is a good idea.

Macroeconomics: If everyone net saves, and your spending is my income, then we get the Great Depression. 

One other Austrian myth: Money supplanted barter, and credit ultimately replaced money. The sequence here: barter, then money, then credit.

Archaeologists have discovered evidence of credit from ~3500 BCE, primarily marks on clay tablets for pay stubs, bar tabs and other obligations. Money (coins) arrived at ~800-600 BCE, literally millenia later. The correct sequence: credit, then money, and very, very rarely, barter.

David Graeber observes, in Debt: The First 5,000 Years, that there has never been economic money (not magical money) without a supervising authority like a temple, king, or state. Never!

States create markets like this: If the king wants to hire 1,000 soldiers, he has a logistical nightmare ahead. He has to pay, clothe, feed, train and supply the soldiers and their steeds. How does he do it? He pays them in the authorized currency--let's call it "crowns." Then he taxes the entire population in crowns. This is obviously a simple example, and real world markets are more complex, but you get the idea. The Austrian idea of markets originating with "free people" with "free exchanges" is not something supported by history. 
 

Monday, April 6, 2026

The costs of war

 

From Every Country That Lost It All Passed Through This Moment First — The U.S. Government Has Been Converted Into a Single Family’s Financial Instrument

Economists Daron Acemoglu and James Robinson, whose work on why nations fail identified the transition from inclusive to extractive institutions as the single most reliable predictor of national economic deterioration, documented this sequence across centuries of comparative history before this administration took office. Extractive institutions are those designed to concentrate wealth and power in the hands of a narrow elite at the expense of the broader population. Every country that completed this transition took the same path: oversight capture first, financial extraction second, institutional hollowing third, and population bearing the biological cost last….

The critical variable in every case is not the volume of theft. Plenty of governments have sustained corruption without producing failed states. The critical variable is the deliberate destruction of the institutional layer between the extraction and the population.

 

Biden wanted to attack Iran too

From Caitlin Johnstone : Former senior Biden advisor Amos Hochstein said during an interview on Sunday that the Biden administration had be...