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Digital’s Growing Influence on the Entertainment Industry’s Unstoppable Rise

Whether you’re settling down to watch your favourite TV show, listening to a new album or heading online to check the news and gossip on your latest stars, it is safe to say that the world of entertainment has become a fundamental part of our daily lives.

With this in mind, it is unsurprising to hear that the industry as a whole is in rude financial health at the moment. According to the latest figures from global consultancy organization PwC, per https://www.pwc.com/, the total revenues generated worldwide by the entertainment and media industry stood at $1.9 trillion in 2017. Incredibly, this sum is only expected to grow further across the coming years, with forecasts indicating that revenues will reach $2.4 trillion by 2022.

Going digital

But what are the key factors which are set to drive this truly impressive level of growth? According to PwC, a specific area which is playing a major role is the digital world, with funds generated from such services expected to account for more than 50 per cent of entertainment’s total revenues this year. Such findings perhaps reflect the huge emphasis that so many of us place on online services these days.

For example, music services such as Spotify and Deezer have become a core part of how many of us listen to our favourite singers and groups, while streaming platforms like Netflix and Amazon’s Prime Video have evolved to the point where they are showcasing existing TV and movies while also producing their own content. Then there is also the gradual shift being seen in the casino world, with many people choosing to play on casino sites rather than visit the traditional offline alternatives. Such decisions are perhaps understandable when sites like https://www.mrgreen.com/ offer a range of gaming options and sports betting under a single domain, including live casino games in which a real-life dealer hosts proceedings via a video link.

The rise of eSports

While PwC predicts that all categories of gaming revenue are set to grow across the next few years, one area expected to enjoy a particularly strong performance is the ever-evolving world of eSports. Revenues from competitive gaming stood at $620 million in 2017, yet they are predicted to reach an incredible $1.6 billion by 2022.

Into New Markets: Yousuf Mohamed Al-Jaida, CEO at QFC, on the Growth Opportunities and Ways to Invest in Qatar

Recently, we had the pleasure of speaking with Yousuf Mohamed Al-Jaida, Chief Executive Officer at Qatar Financial Centre. We touch on the industries in Qatar that present abundant opportunities for companies wishing to expand in the Arab world and what makes the QFC the best institution to work with for quick and easy set up in Qatar and beyond.

 

The United States of America – the Real Reason Why They Are Never Winning Their Wars

United States Army rangers during the military operation in the smoke and fire

By Peter Koenig

This essay is inspired by Professor James Petras’ article, describing that the US never wins wars despite trillions of investments in her war budget and obvious military superiority 

Professor Petras is of course right, the United States is currently engaged in seven bloody wars around the globe (Afghanistan, Iraq, Pakistan, Syria, Yemen, Somalia, Libya) and has not been winning one, including WWII. The question is: Why is that?

To these wars, you may want to add the totally destructive and human rights adverse war that literally slaughters unarmed civilians, including thousands of children, in an open-air prison, Gaza, the US proxy war on Palestine, carried out by Israel; plus, warmongering on Iran, Venezuela and North Korea. Let alone the new style wars – the trade wars with China, Europe, and to some extent, Mexico and Canada, as well as the war of sanctions, starting with Russia and reaching around the world – the fiefdom of economic wars also illegal by any book of international economics.

Other wars and conflicts, that were never intended to be won, include the dismantlement of Yugoslavia by the Clinton / NATO wars of the 1990s, the so-called Balkanization of Yugoslavia, ‘Balkanization’, a term now used for other empire-led partitions in the world, à la “divide to conquer”. Many of the former Yugoslav Republics are still not at peace internally and among each other. President Tito, a Maoist socialist leader was able to keep the country peacefully together and make out of Yugoslavia one of the most prosperous countries in Europe in the seventies and 1980s. How could this be allowed, socioeconomic wellbeing in a socialist country? – Never. It had to be destroyed. At the same time NATO forces advanced their bases closer to Moscow. But no war was won. Conflicts are still ongoing, “justifying” the presence of NATO, for European and US “national security”.   

Then, let’s not forget the various Central American conflicts, Nicaragua, Honduras, Guatemala, the 8-year Iraq – Iran war – and many more, have created havoc and disorder, and foremost killed millions of people and weakened the countries affected. They put the population into misery and constant fear – and they keep requiring weapons to maintain internal hostilities, warfare and terror to this day.

It is not in the interest of the United States to win any wars.
 
All of these wars are totally unlawful and prohibited by any international standards of law. But the special and exceptional nation doesn’t observe them. President Trump’s bully National security Advisor, John Bolton, recently threatened the ICC and its judges with ‘sanctions’ in case the dare prosecution of Israeli and American war criminals. And the world doesn’t seem to care, and, instead, accepts the bully’s rule, afraid of the constant saber-rattling and threats being thrown out at the resisters of this world. Even the United Nations, including the 15-member Security Council, is afraid to stand up to the bully – 191 countries against 2 (US and Israel) is a no go?

None of these wars, hot wars or cold wars, has ever been won. Nor were they intended to be won. And there are no signs that future US-led wars will ever be won; irrespective of the trillions of dollars spent on them, and irrespective of the trillions to come in the future to maintain these wars and to start new ones. If we, the 191 UN member nations allow these wars to continue, that is. – Again, why is that?

The answer is simple. It is not in the interest of the United States to win any wars. The reasons are several. A won war theoretically brings peace, meaning no more weapons, no more fighting, no more destruction, no more terror and fear, no more insane profits for the war industry – but foremost, a country at peace is more difficult to manipulate and starve into submission than a country maintained at a level of constant conflict – conflict that not even a regime change will end, as we are seeing in so many cases around the world. Case in point, one of the latest ones being the Ukraine, after the US-NATO-EU instigated February 2014 Maidan coup, prepared with a long hand, in Victoria Nuland’s word, then Assistant Secretary of State, we spent more than 5 years and 5 billion dollars to bring about a regime change and democracy to the Ukraine.

Western propaganda and deceit-media brainwash western populations into believing in the Russian evil.

Today, there is a “civil war” waging in eastern Ukraine, the Russian leaning Donbass area (about 90% Russian speaking and 75% Russian nationals), fueled by the ‘new’ Washington installed Poroshenko Nazi government. Thousands were killed, literally in cold blood by the US military-advised and assisted Kiev army, and an estimated more than 2 million fled to Russia. The total Ukraine population is about 44 million (2018 est.), with a landmass of about 604,000 km2, of which the Donbass area (Donetsk Province) is the most densely populated, counting for about 10% of population and about 27,000 km2.

Could this Kiev war of aggression end? – Yes, if the West would let go of the Donbass area which in any case will never submit to the Kiev regime and which has already requested to be incorporated into Russia. It would instantly stop the killing, the misery and destruction by western powers driven Nazi Kiev. But that’s not in the interest of the west, NATO, EU and especially not Washington – chaos and despair make for easy manipulation of people, for exploitation of this immensely rich country, both in agricultural potential – Ukraine used to be called the bread basket of Russia – and in natural resources in the ground; and for steadily advancing closer to the doorsteps of Moscow. That’s the intention.

In fact, Washington and its western EU vassal allies are relentlessly accusing Russia for meddling in the Ukraine, in not adhering to the Minsk accords. They are ‘sanctioning’ Russia for not respecting the Minsk Protocol (Ukraine, Russia, France, and Germany agreed on 11 February 2015 to a package of measures to alleviate the ongoing war in eastern Ukraine), when in fact, the complete opposite is true. The west disregards the key points of the accord – no interference. But western propaganda and deceit-media brainwash western populations into believing in the Russian evil. The only ones meddling and supplying Kiev’s Nazi Regime with weapons and “military advisors” is the west.

The going strategy is lie-propaganda, so the western public, totally embalmed with western falsehoods, believes it is always Russia. Russians, led by President Putin, are the bad guys. The media war is part of the west’s war on Russia. The idea is, never let go of an ongoing conflict – no matter the cost in lives and in money. It’s so easy. Why isn’t that addressed in many analyses that still pretend the US is losing wars instead of winning them? – Its 101 of western geopolitics.

The Economic Costs of Corruption in Philippines

Corruption in the philippines

By Dan Steinbock                

The recent $200 million customs debacle may be just a tip of the iceberg. Due to illicit financial flows, Philippines has lost almost $10 billion annually. Tax evasion may be as costly. In this status quo, only a fully independent anti-graft campaign can succeed.

 

3 Industries To Watch As America Faces Economic Downturn

Golden bitcoin with Benjamin Franklin portrait from one hundred american dollars. Business concept of worldwide cryptocurrency. Buying bitcoins for dollars. Earnings on the growth of bitcoin.

Since about 2010 the U.S. economy has been experiencing a robust turnaround following a near collapse in 2008. It’s been slow but steady progress, but by 2018 it was clear that the U.S. stock exchanges were operating at a powerful level, and most every significant economic indicator was positive. Over the course of the year though, more negative predictions have been trickling into the U.S. economic psyche. Experts and the ultra-rich are predicting a U.S. recession, and the perception is that it could begin in 2019. 

Debating the merits of this prediction is a complex process, but suffice it to say the indicators are fairly convincing, and the markets have in fact already begun to dip. What we’re focusing on here instead is a few industries that people may want to keep an eye on for potential surges even in the event that the American markets experience a dramatic downturn.

1.) Cryptocurrency 

There are such things as financial safe havens in times of economic struggle, and they may just look different this time around. Typically there are some investors who will move some of their assets into precious metals and other commodities that have the benefit of not being linked to any one nation, market, or financial system. These can be “safer” places to store money when markets are going down, though that shouldn’t be taken as any sort of guarantee. At any rate, some have predicted already that trade wars in the U.S. could launch bitcoin as the new gold, and this speaks to the broader point that cryptocurrency could be viewed as a safe haven during the next recession. Again, that’s not a guarantee that cryptocurrency is a reliable place. However, it does have some of the same theoretical benefits as precious metals, which means we could see a surge of investment leading up to a recession.

2.) Betting Economy 

Betting is anything but a safe haven. However, there are two factors at play here as we look toward the States. One is that when people fear for their finances, they can sometimes try bold tactics, and this could conceivably lead some to treat betting opportunities like an alternative stock market. The other is that betting is going to be a new phenomenon in the U.S. right around the time a recession may set in. Over a dozen states are working to enact gambling legislation right now, and a small handful already have, which means that in the next year there will start to be accessible opportunities for people to bet with real money. While this is by no means a surefire way to make money, it could be treated as a sort of alternative market among enough consumers to make for an industry boost.

3.) Recreational Marijuana 

This is a different category because it’s about pure opportunity, rather than opportunity relative to an economic downturn. That is to say, the potential for legal, recreational marijuana as a multi-billion-dollar industry in the U.S. is so apparent that it may just have potential to surge even in the face of a recession. There’s also the small factor that people may look to marijuana to cope with economic anxiety and stress, but that may or may not have a real impact. The simpler matter is simply that this industry has astronomical potential, and will likely succeed even if the U.S. economy takes a dive.

Leadership is About Making Others Smarter to Better Serve Customers

By David De Cremer and Patrick Mancel

Since being founded in 1987 in Shenzhen by Ren Zhengfei, Huawei serves today more than three billion customers worldwide. To remain competitive as the top provider in the business, Huawei puts a strong emphasis in making a difference in the lives of both their employees and customers. They do this by fostering an intellectual work climate within their organisation.

It is often said that it is lonely at the top. Those in the highest leadership position know this all too well. At the same time, they also know that for their leadership to be effective, they need to rely on and collaborate with others. In the last two decades, the scholarly literature on leadership has moved from a focus on the leader as a unique individual with specific traits to a focus on the leader as someone who is part of the collective and in the process of representing that collective builds positive and trusting relationships with others to promote everyone’s interests. In this sense, leaders can only be effective through the efforts of those they lead, making that leadership has to be regarded as a two-way process. For this reason, leaders need to create circumstances in which they use their influence and power to make others perform better, contribute to their well-being and happiness, and even make those others wealthier.

Research has indeed shown that money can make people happy, but primarily so when they are able to spend it on others.1 Because primarily those with more influence and power possess more financial resources, the happiness of those in leading positions in a sense thus depends on making others wealthier. That is, sharing one’s wealth with others makes oneself happy. In a similar way, leaders can feel less lonely, happier and more effective, if they serve the (financial) interests of their followers. This two-way process in turn makes leaders more legitimate in the eyes of their followers and fosters compliance and cooperation. As a result, followers are more willing to help achieving the goals and purpose communicated by the one in charge. It is this ability to make followers accept a common purpose and its related values that make that leaders remain in the collective memory and exert influence on the long-term. Or, as a Chinese saying goes, “every generation has its heroes and each may lead the way for decades.”

By intellectually stimulating your employees, they think more deeply about the purpose of the company they work for and in turn decisions become meaningful.

One specific type of influence of leaders that helps to serve the long-term interests of organisations is to promote and develop the thinking of employees and foster an intellectual work climate. The ability and freedom of independent thought makes people experience a sense of autonomy and execution power that has a significant impact on how their career and life develop. Like the old Chinese saying goes: “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.”  It is therefore no surprise that John F. Kennedy once noted that the engagement to “leadership and learning are indispensable to each other.” By intellectually stimulating your employees, they think more deeply about the purpose of the company they work for and in turn decisions become meaningful. Based on this process, it stands to reason that promoting employees’ intellectual capabilities in understanding the purpose of the business will deliver better customer service.

One company that has brought the relationship between promoting intellectual exchanges among employees and enhanced customer service to life in the display of their leadership is the Chinese telecom giant Huawei. The company was founded in 1987 in Shenzhen by Ren Zhengfei and serves today more than three billion customers worldwide. Huawei has never gone public – remaining an employee-owned company – and in the fiscal year of 2017 Huawei’s revenue reached CNY603.621 billion (U.S.$92.549 billion) and CNY56.384 billion (U.S.$7.276 billion) in net profit.

Huawei’s leadership focus on customers

Saying that providing the best customer service is an important value to Huawei is an understatement. Ren Zhengfei clearly puts that “serving customers is the only reason Huawei [even] exists.” The ambition for Huawei employees is therefore clear, which is “to serve their customers.”2 It is for that reason that Huawei considers the judgments and needs of their customers as their compass to navigate in an increasingly more competitive world. Making customers the focus of his company, Ren Zhengfei considers it important that in his leadership he elevates the abilities of Huawei employees to impress their customers by asking those employees to explicitly adopt high standards, focus on different scenarios and opportunities for the company and its customers, and give engaging presentations to inspire customers to remain loyal.

Ren Zhengfei once pointed out that an intellectual culture can be regarded as a bucket of paste that ties employees together in the pursuit of the goal to provide the best service to customers.

For his employees to embrace this strategy, Ren Zhengfei leads in ways that create a work culture in which intellectual values are placed centre-stage. To achieve such an intellectual work culture, Ren Zhengfei acts as a teacher spending time with his employees while sharing references of books to read, discussing tactics and providing even life lessons. For example, Ren Zhengfei has mentioned several times in his speeches to Huawei employees that a book on International Business Law was the most impressive one he ever read. He considered this book as a very important summary of society which clearly describes channel management, agent management, the rights of agents as well as many other topics and recommended that everyone should read it. Ren also often uses references to past historic events and the suffering of man in life.  For example, in speeches, Ren Zhengfei sometimes refers to his visit to the Voortrekker Monument in Johannesburg, which honours the Dutch immigrants who spent 19 years moving from Cape Colony to the continent’s interior in the 19th century. The hard life of these Dutch immigrants is used as a continuous inspiration to understand why Huawei needs to show commitment and suffering to be the best in customer service.

Ren Zhengfei once pointed out that an intellectual culture can be regarded as a bucket of paste that ties employees togethers in the pursuit of the goal to provide the best service to customers. This bucket of past consists of a mix of ideas, explorations of philosophies, promoting sensitivities to differences between cultures, and being aware of the important values in business and life. Such an intellectually rich exchange requires an appetite to go broad and not only zoom in on one’s own expertise and areas of interest. In line with this idea, executives at Huawei are indeed encouraged to read both specialised and non-specialised books to foster an intellectual climate. The notion of the power of thinking in Huawei thus relates strongly with the ambition to install a learning orientation, which responds to the need to stay updated and open to any changes in customer demands and preferences. It is this kind of attitude that will ensure the best service provision possible.

In fact, according to Ren Zhengfei, Huawei will only be able to respond to threats and pressures if the company builds a culture where people’s minds are the main asset and resource to rely on. The importance of thinking, in his view, is that it provides the skills to connect the dots needed to work with an agile vision and strategy. In other words, learning and thinking prepares the mind and thus the company for when change and corresponding strategies are needed. Considering this assumption that Huawei needs well-prepared strategists, Ren Zhengfei urges that employees working at the Consumer-focussed departments must literally study the earlier mentioned book international business law. For most of them he explained that reading the simplified version would suffice in preparation for the exam these managers will have to take on this book. For Ren Zhengfei it is important to: “Never forget to self-reflect. The secret to survive as a company is self-reflection. We must gradually improve our thinking and our corporate culture through self-reflection and self-iteration.”

Promoting the power of thinking creates success

Huawei’s belief of the power to think as one of the most important assets companies have available is built on the idea that innovation without a solid academic foundation is never going to become big business. It is just messing with the details. This belief is to some extent fuelled by the emotions of its founder. Specifically, Ren Zhengfei feels that the Internet age has created a generation of inflated ideas in China’s young people and therefore fears that serious scientific research is lacking these days. The only way to achieve great leadership is therefore to do some hard learning. He believes in the idea that nothing is as practical as a good theory. It is only through diligent study that one can truly understand theories relevant to business. However, through practice, one can further promote in-depth understanding. In other words, theory gives direction to practice. But theory without practice is weak. As Ren Zhengfei noted: “In the past, our older craftsmen gained experience through a lot of practice and became top-level craftsmen in that way. Tireless hands-on work only allowed them to know how to do their job well. But practice guided by theory is how we can really become goal-oriented.” And, the most important goal for Huawei is to satisfy the needs and demands of its customers.

Effective leadership is about making others better in a variety of ways. One important skill that leaders can foster is the ability to gather knowledge, think in deep ways and ultimately reflect to become more creative and effective in their interactions with others.

To provide the best service possible to customers requires that employees think in creative and innovative ways in promoting the quality of the company’s products and the long-term strategies used to remain competitive as the top provider in the business. Promoting an intellectual work climate can help in achieving these outcomes in several ways. First, by being more knowledgeable about one’s own field of expertise and in addition being able to see the usefulness of this knowledge in a broader perspective helps to install creative mindsets. Indeed, by reading books and articles on broader topics than only one’s expertise helps to facilitate seeing different solutions to the same problem. In other words, promoting a culture of thinking and intellectual exchanges contributes to people’s ability to engage in mental accounting. Mental accounting helps people to imagine situations that do not exist yet and how they could affect one’s business goals. Second, the skill of mental accounting helps those in leadership positions to act in more anticipating ways. Such type of pro-active leadership has been suggested to be positive in terms of avoiding the establishment of a feeling of inertia in the organisation.4 Or, put differently, being able to anticipate challenges and alternative approaches helps the company to keep moving on in agile ways. Third, the experience of reading books – both fiction and non-fiction – has been shown to increase people’s ability to understand better the ways other people think and as such helps in (a) thinking in more creative and adaptive ways, and (b) managing more successfully social relationships, including those with customers. Our own research even shows that those in leadership positions reading literary fiction makes them more humble and fairer towards others.5

Taken together, effective leadership is about making others better in a variety of ways. One important skill that leaders can foster is the ability to gather knowledge, think in deep ways and ultimately reflect to become more creative and effective in their interactions with others. Using knowledge to be of better service to customers is a strategy employed and demonstrated by Huawei and its founder. Given the present status and level of success achieved by the company it stands to reason that this approach indeed has made a difference in the lives of both their employees and customers.

Featured Photo: Celebrating Huawei’s successful show at Mobile World Congress 2017

Photo Source: www.huawei.com

About the Authors

David De Cremer is the KPMG chaired professor in management studies at the Judge Business School, University of Cambridge, UK, and an affiliate at the Justice Collaboratory at Yale Law School, Yale University. He has published over more than 250 academic articles and book chapters and is the author of the book Pro-active Leadership: How to overcome procrastination and be a bold decision-maker and co-author of “Huawei: Leadership, culture and connectivity”.

Patrick Mancel has been a lawyer for 22 years in the areas of real estate contracts and law with a specific interest in developing trustworthy and legitimate decision-making procedures enacted by a variety of authorities. He is currently a law entrepreneur assisting and advising the organisation and re-organisation of justice service means to a wide variety of companies.

References

1. Dunn, E.W., Gilbert, D.T., & Wilson, T.D. (2011). “If money doesn’t make you happy, then you probably aren’t spending it right.”Journal of Consumer Psychology,21, 115-125.

2. Tian, T., De Cremer, D., & Chunbo, W. (2017). Huawei: Leadership, culture and connectivity. Sage Publishing.

3. De Cremer, D. (2018). “Know your history! Why historical awareness makes you a better leader.” The Political Anthropologist.

4. De Cremer, D. (2013). “The proactive leader: How to overcome procrastination and make a bold decision now.” Palgrave Macmillan.

5. Moore, C., Oc, B., & De Cremer, D. (2018). “Literary fiction reading and humble leadership.” Paper in preparation, Bocconi University.

The Hidden Culture in a Las Vegas Vacation

LAS VEGAS, USA - JULY 14 : World famous Vegas Strip in Las Vegas, Nevada as seen at night on July 14, 2016 in Las Vegas, USA

Vegas? Cultured? It’s not a description you often hear to describe the often aptly named Sin City. But, scratch the surface, and there’s actually a lot more to offer than first meets the eye.

The element of friendship

There aren’t many places in the world where you can wander around and be guaranteed to make friends – even if you’re alone. In fact, speaking to strangers is often frowned upon for a multitude of reasons but, in Vegas, it’s a given that you’re going to meet new people.

Whether you’re around the pool chilling or partying, or out for a night at the casino, you never know who you might meet. And, due to the international draw of the city, you might well meet people you never ordinarily meet – that’s the beauty of it.

If you’re shy, one of the best ways to approach new people is to look for groups. The casinos are ideal for this – often people are in a great mood, perhaps a little merry, and, more often than not, they’re on vacation as well. Don’t be weird about it; simply join in on a game. To increase your confidence before you go, you might want to practice on your own terms. The team at BonusSource have put together a list of top casinos so that you can make your way through the rules before attempting the real thing.

The beautiful outdoors

You might have to venture on out a little to find it but Las Vegas itself is merely a mirage in the midst of an awe-inspiring desert. Just a short drive away, you’ll find the Grand Canyon, which is an absolute wonder to behold.

There are plenty of ways that you can see it, from splurging and flying up above on a helicopter, to going for a soul-searching hike. There are plenty of different walks you can take around the area to truly appreciate the nature that surrounds you. 

Go backpacking along trails or take a guided walk – just be sure to be well-informed and not to push yourself too much. Be aware that it gets incredibly, insanely hot in Vegas, so be prepared. Follow the rules, too. Leave no trace and don’t do anything reckless.

The Native American history

Before the times of colonial influence, Native Americans lived peacefully in the Vegas area, and many still continue to do so to this day. It’s important not to overlook the culture of the first people of the USA because it’s so rich and vast, and there’s such a beautiful history – one that is sadly forgotten about or ignored.

In Las Vegas, there are plenty of places that you can visit to respectfully explore and learn more. If you educate yourself and learn more about people, it promotes a deeper cultural understanding.

So, while you can absolutely party around the clock in Vegas, you can do so more. You could even visit with the whole family for a legitimately insightful vacation.

Election 2018 & the Unraveling of America

america election

By Dr. Jack Rasmus

As Americans went to the polls yesterday, November 6, 2018, no doubt some were thinking of the hordes of immigrants we’re told are invading the US southern border.  Or they were remembering the pipe bombs, the killings in Pittsburg, or the racist murders occurring almost daily elsewhere that barely get press coverage anymore.

“Only 28% of Americans aged 18 to 29 say they are certain to vote this November”

If they’re Millennials, they may be considering whether even to vote or not, since neither wing of the corporate Party of America—aka Republicans or Democrats—have done much for them over the past ten years. Burdened mostly with low paying service jobs and $ trillion dollar student debt payments that consume roughly 37% of their paychecks, with real incomes well below what their parents were earning at their age, and with prospects for the future even more bleak, many Millennials no doubt wonder what’s in it for them by voting for either party’s candidates.  Will Millennial youth even bother to turn out to vote?  As an editorial in the Financial Times business newspaper recently noted, “Only 28% of Americans aged 18 to 29 say they are certain to vote this November”. Political cynicism has become the dominant characteristic of much of their generation—deepening since the politicians’ promises made in 2008 have failed to materialize under Obama and now Trump.

If they’re Latinos and Hispanics, as they go to the polls they are aware their choice is either Trump Republicans who consider them enemies, criminals and drug pushers; or Democrats who, in the past under Obama, deported their relatives in record numbers and repeatedly abandon programs like DACA (‘Dreamers) as a tactical political necessity, as they say. Who will they trust least? One shouldn’t be surprised if they too largely sit it out, harboring a deep sense of betrayal by Democrats and concern they may soon become the next ‘enemy within’ target of Trump and his White Nationalist shock troops who are being organized and mobilized behind the scenes by Trump’s radical right wing buddy, Steve Bannon, and his billionaire and media friends.

If they’re African Americans, they know from decades of experience that nothing changes with police harassment and murders, regardless which party is in power.

If they’re union workers in the Midwest, they know the Democrats are the party of free trade and job offshoring, while Republicans are the party favoring low minimum wages, elimination of overtime pay, privatization of pensions, and cuts to social security.

All these key swing groups of Millennials, Hispanics, African-Americans, and union workers in the midwest—i.e. those who gave Obama an overwhelming victory in 2008, gave him one more chance in office in 2012 despite failure to deliver, and then gave up on the unfulfilled promises in 2016—will likely not be thinking about the real ‘issues’ as they go to the polls. For the ‘Great Distraction’ is underway like never before.

The Great Distraction

It’s the ‘enemy within’ that’s the problem, we’re told by Trump. And the ‘enemy without’. Or, in the case of the immigrant—it’s both: the enemy without that’s coming in!  So put up the barbed wire. Grab their kids when they arrive, as hostage bait. Send the troops to the border right now, to stop the hordes that just crossed into southern Mexico yesterday. Hurry, they’re almost here, rapidly proceeding to the US on foot. (They run fast, you see). They’re in Oaxaca southern Mexico. They’ll be here tomorrow, led by Muslim terrorists, carrying the bubonic plague, and bringing their knapsacks full of cocaine and heroin.

Both sides—Trump, Republicans, Democrats, as well as their respective media machines—sidestep and ignore the deep malaise shared by Americans today. Older Americans shake their heads and mumble ‘this isn’t the country I grew up in’ while the younger ask themselves ‘is this the country I’ll have to raise my kids in’?

And if the enemy immigrant is not enough is not enemy enough, the ‘enemy within’ is increasingly also us, as Trump adds to his enemies list the ‘mob’ of Americans exercising their 1st amendment rights to assembly and protest against him. And don’t forget all those dangerous Californians who won’t go along with his climate, border incarceration, trade or other policies. Or their 80 year old Senator Diane Feinstein, their ring-leader in insurrection. They’re all the ‘enemy within’ too.  The chant ‘lock ‘em up’ no longer means just Hillary. So Trump encourages and turns loose his White Nationalist supporters to confront the horde, the mob, and their liberal financiers like George Soros. If all this is not an unraveling, what is?

Not to be outdone in the competition for the Great Distraction, there’s the Democrats resurrecting their age-old standby ‘enemy without’: the Russians. They’re into our voting machines. Watch out. They’re advancing on Eastern Europe, all the way to the Russian-Latvian border. Quick, send NATO to the Baltics! Arrange a coup partnering with fascists in Ukraine! Install nuclear missiles in Poland! And start deploying barbed wire on the coast of Maine and Massachusetts, just in case.

However, behind all the manufactured fear of immigrants, US demonstrators, and concern about violence- oriented white nationalists whipped up and encouraged by Trump and his political followers—lies a deeper anxiety permeating the American social consciousness today. Much deeper. Whether on the right or left, the unwritten, the unsaid, is a sense that American society is somehow unraveling. And it’s a sense and feeling shared by the left, right, and center alike.

Both sides—Trump, Republicans, Democrats, as well as their respective media machines—sidestep and ignore the deep malaise shared by Americans today. Older Americans shake their heads and mumble ‘this isn’t the country I grew up in’ while the younger ask themselves ‘is this the country I’ll have to raise my kids in’?

There’s a sense that something has gone terribly wrong, and has all the appearance will continue to do so.  It’s a crisis, if by that definition means ‘a turning point’.  And a crisis of multiple dimensions. A crisis that has been brewing and growing now for at least a quarter century since 1994 and Newt Gingrich’s launching of the new right wing offensive that set out purposely to make US political institutions gridlocked and unworkable until his movement could take over—and succeeded. It’s a crisis that everyone feels in their bones, if not in their heads. The dimensions of the unraveling of America today are many.  Here’s just some of the more important:

Growing Sense of Personal Physical Danger

Mass and multiple killings and murders are rampant in America today, and rising. So much so that the media and press consciously avoid reporting much of it unless it involves at minimum dozens or scores of dead. There are more than 33,000 gun killings a year in the US now. 90 people a day are killed by guns. While we hear of the occasional school shooting, the fact is there are 273 school shootings so far just in 2018. That’s one per school day.

The suicide rate in America is also at record levels, with more than 45,000 a year now and escalating.  Teen age suicides have risen by 70% in just the last decade. The fastest rate of increase is among 35-64 year olds. People are literally being driven crazy by the culture, the insecurities, the isolation, the lack of meaningful work, the absence of community, and the hopelessness about a bleak future that they’re killing themselves in record numbers.

And let’s not forget the current opioid crisis. The opioid death rate now exceeds more than 50,000 a year. These aren’t folks over-dosing in back alleys and crack houses. These are our relatives, neighbors and friends. And the ‘pushers’ are the big  pharmaceutical companies and their salespersons who pushed the Fetanyl and Oxycontin on doctors telling them it was safe—just like the Tobacco companies maintained for decades that cigarettes were ‘safe’ when their tests for decades showed their product produced cancer. Big Pharma knew too. They are the criminals, and their politicians are the paid-for crooked cops looking the other way. All that’s not surprising, however, since Big Pharma is also the biggest lobbyist and campaign contributor industry in the US.

So it’s 33,000 gun killings, 43,000 suicides, and 50,000 opioid deaths a year. Every year. That compares to US deaths during the entire 8 years of Vietnam War of 56,000! That’s a death rate over three years roughly equal to all Americans who died during the three and a half years of World War II! We all got rightly upset over 2500 killed on 9-11 by terrorists. But the NRA and the Pharmaceutical companies are the real terrorists here, and politicians are giving them a complete pass.

Instead of Big Pharma CEOs and leaders of the National Rifle Association (NRA), we’re told the real enemies are the desperate men, women and children willing to walk more than a thousand miles just to get a job or to escape gang violence. Or we’re told it’s the Russians meddling in the 2016 election and threatening our democracy—when the real threat to American democracy is home grown: In recent court-sanctioned gerrymandering; in mass voter suppression underway in Georgia, North Dakota, and elsewhere; in the billions of dollars being spent by billionaires, corporations, and their political action committees this election cycle to ensure their pro-business, pro-wealthy candidates win.

News of these real killing machines goes on every day, creating a sense of personal insecurity that Americans have not felt or sensed perhaps since the frontier settlement period in the 19th century. It’s not the immigrants or the Russians who are responsible for the guns, suicides, and drug overdoses. But they certainly provide a useful distraction from those who are. People feel the danger has penetrated their communities, their neighborhoods, their homes. But politicians have simply and cleverly substituted the real enemies with the immigrant, the mob, and that old standby, the Russians.

Income & Wealth Inequality Accelerating

The sense of economic unraveling may have slowed somewhat after 2010, but it continues none the less, as millions of Americans are forced to assume low paying service jobs. Working two or more jobs to make ends meet.

Another dimension of the sense of unraveling is the economic insecurity that hangs like a ‘death smog’ over public consciousness since the 2008-09 crash. As more and more average American households take on more debt, work more part time jobs or hours, and adjust to a declining standard of living, they are simultaneously aware that the wealthiest 1% or 10% are enjoying income and wealth gains not seen since the ‘gilded age’ of the late 19th century. The share of national pre-tax income garnered by the top 10% has risen from 35% in 1980 to roughly 50% today. That’s 15% more to the top, equivalent to roughly than $3 trillion more in income gains by the top 10% that used to be distributed among the bottom 90%.

How could an America that once shared income gains from economic growth among its classes and across geography from World War II through the 1970s have now allowed this to happen, many ask? And why is it being allowed to get worse?

There are many ways to measure and show this economic unraveling. Whether national income shares for workers and wages falling from 64% to 56% of total national income; or the distribution to the rich of more than a $1 trillion a year every year since 2009 in stock buybacks and dividend payments; or the $15 trillion in tax cuts for investors, businesses, and corporations since 2001; or Trump’s recent $4 trillion tax windfall for the same; or stock market values tripling and quadrupling since 2009; or stagnant real wage gains for the middle class and declining real wages for those below the median.

Whatever dimension or study or statistic, the story is the same. Economic gaps are widening everywhere. And everyone knows it.  And except for that noble, modern Don Quixote of American Politics, Bernie Sanders, it appears no one in either party is proposing to reverse it. So the awareness festers below the surface, adding to the realization that something is no longer right in America.

The sense of economic unraveling may have slowed somewhat after 2010, but it continues none the less, as millions of Americans are forced to assume low paying service jobs. Working two or more jobs to make ends meet. Taking Uber and gig work on the side. Going on Medicaid or foregoing health insurance coverage altogether. Moving to lower quality housing and taking on more room-mates.  Treading economic water in good times, and sinking and gasping for air during recessions and in the bad times. Just making due. While the wealthy grow unimaginably wealthier by the day.

Never-Ending Wars

The sense of anxiety is exacerbated by the never ending wars of the 21st century. How is it they never end, given the most powerful military and funding of more than $1 trillion a year every year, it is asked?

Newspaper headlines haven’t changed much for 17 years. The war in Afghanistan and elsewhere continues. Change the dates and you can insert the same news copy.  With more than 1000 US bases in more than 100 countries, America since 2001 has been, and remains, on a perpetual war footing.  All that’s changed since 2000 is that the USA no longer pays for its wars by raising taxes, as it had throughout its history. Today the US Treasury and Federal Reserve simply ‘borrow’ the money from partners in empire elsewhere in the world—while they cut taxes on the rich at the same time.

With more than 1000 US bases in more than 100 countries, America since 2001 has been, and remains, on a perpetual war footing.

And the annual war bill is going up, fast. Trump has increased annual spending on ‘defense’ by another $85 billion a year for the past two years. Approaching $150 billion if the notorious US ‘black budget’ spending on new military technology development—not indicated anywhere in print—is added to the amount. And more is still coming in the next few years, to pay for new cybersecurity war preparation, for next generation nuclear weapons, and for Trump’s ‘space force’.  Total costs for defense and war—not just the Pentagon—is now well over $1 trillion annually in the US. And with tax cutting for those who might pay for it now accelerating, the only sources to pay for the trillion dollar plus annual US budget deficits coming for the next decade is either to borrow more or cut Social Security, Medicare, education and other social programs. And those cuts are coming too—soon if one believes the public declarations of Senate Republican Majority leader, Mitch McConnell.

Technology Angst

As our streets and neighborhoods become more dangerous, as inequality deepens, as wars, tax cuts for the rich and social program cuts for the rest become the disturbing chronic norm— awareness is growing that technology itself is beginning to tear apart the social fabric as well. Admitted even by visionaries and advocates of technology, the negatives of technology may now be outweighing its benefits.

Technology is creating and diffusing new business models, destroying the old, and doing so far too rapidly to enable adjustment for tens of millions of people.

Studies now show problems of brain development in children over-using hand-held screen devices. Excessive screen viewing, studies show, activates the same areas of the brain associated with other forms of addiction.  Social media is encouraging abusive behavior by enabling offenders to hide. What someone would not dare to say or do face to face, they now freely do protected by space and time. Social media is transforming human communications and relations rapidly, and not always positively. It is also enabling the acceleration of the surveillance state. Massive databases of personal information are now accessible to any business, to virtually any governments, and to unscrupulous individuals around the globe intent on blackmail, threats, and worse. Privacy is increasingly a fiction for those participating in it.

And employment is about to become more precarious because of it.  Technology is creating and diffusing new business models, destroying the old, and doing so far too rapidly to enable adjustment for tens of millions of people. Amazon. Uber. Gig economy. Wiping out millions of jobs, increasing hours worked, uncertainty of employment, lowering of wages. And next Artificial Intelligence. Projected by McKinsey and other business consultants to eliminate 30% of current jobs by the end of the next decade. Where will my job be in ten years, many now ask themselves? Will I be able to make it to retirement? Will there be anything like retirement any more after 2035?

Unchecked and unregulated accelerating technological change is adding to the sense of social unraveling of key institutions that once provided a sense of personal security, of social stability, of a vision of a future that seemed more related to the present, rather than to an even more anxiety ridden, uncertain, unstable future.

A Culture Increasingly Coarse & Decadent

When the President of the US brags he could shoot someone on the street corner and (his) people would still love him, such statements raise the ghostly spectre of prior decades when the vast majority of German people thought the same of Hitler.  And when one of his closest advisers, Rudy Guliani, declares publicly that ‘Truth is not the Truth’, it amounts to an endorsement for an era of lies and gross misrepresentation by public figures.  With chronic lying the political norm, what can anyone believe from their elected officials, many now ask? It’s no longer engaging in political spin for one’s particular policy or program. It’s politics itself spinning out of control.  Public political discourse consists increasingly to targeting, insulting, vilifying, and threatening one’s political opponents.  Trump’s railing against politicians and government itself smacks of Adolph’s constant insulting indictment of democratically elected Weimar German governments and leaders in the 1920s.  It leaves the American public with a nervous sense of how much further can and will this targeting, personalizing, and threatening go?

But the political culture is not the only cultural element in decline. A broader cultural decline has become evident as well. Americans flock to view films of dystopia visions of America, of zombies, and ever-intense CGI violence where fictitious super heroes save the world. More of popular music has become overtly misogynous, angry, mean, and violent in both sound and lyrics. And has anyone recently watched how high schoolers now dance, in effect having sex with their pants on?

Collapse of Democratic Institutions

Not least is the sense of unraveling of political institutions and the practice of democracy itself. As a recent study estimated, Democracy is in decline in the US, having dropped in an aggregate score of 94 in 2010 to a low of 86 today—when measured in terms of free and fair elections, citizen participation in politics, protection of civil rights and liberties, and the rule of law. The study by the non-profit, Freedom House, concluded “Democracy is in crisis’ and under assault and in retreat.

In America, the restrictions on civil rights and liberties have been growing and deepening since 2001 and the Patriot Acts, institutionalized in annual NDAA legislation by Congress thereafter.  Legislatures have been gerrymandered to protect the incumbents of both wings of the Corporate party of America. The US Supreme Court has expanded its authority to select presidents (Gore v. Bush in 2001), defined corporations as people with the right to spend unlimited money which it defines as free speech (Citizens United), and will likely next decide that Presidents (Trump) can pardon himself if indicted (thus ending the fiction that no one is above the law and endorsing Tyranny itself).

The two wings of the Corporate Party of America meanwhile engage in what is an internecine class war between factions of the American ruling class. More billionaires openly contest for office as it becomes clear millions and billions of dollars are now necessary to get elected.

Voter suppression spreads from state to state to disenfranchise millions, from Georgia to the Dakotas, to Texas and beyond. If one lacks a street number address, or an ID card, or has ever committed a felony, or hasn’t voted recently, or doesn’t sign a ballot according to their birth certificate name, or any other number of technical errors—they are denied their rights as citizens.  What was formerly ‘Jim Crow’ for blacks in the South has become a de facto ‘Jim Crow Writ Large’ encompassing even more groups across a growing number of states in America.

A sense of growing political disenfranchisement adds to the feeling that the country is politically unraveling as well—adding to the concurrent fears about growing physical insecurity, worsening economic inequality and declining economic opportunities, and an America mired in never ending wars. An America in which it is evident that political elites are increasingly committed to policies of redistribution of national wealth to the wealthiest. An America where more fear that technology may be taking us too far too fast. An America where the culture grows meaner, nastier and more decadent, where lies are central to the political discourse, and where political institutions no longer serve the general welfare but rather a narrow social and economic elite who have bought and captured those institutions.

And, not least, an America where politicians seem intent on drifting toward a nationalism on behalf of a soon to be minority White America—i.e. politicians who are willing to endorse violence and oppression of the rest in order to opportunistically assume and exercise power by playing upon the fears, anxieties, and insecurities as the unraveling occurs.

(Watch for my follow-on analysis of the 2018 Midterm Elections results, and why now the polarization in the country will deepen and why Democratic Party strategies will lead to disaster in 2020).

About the Author 

Dr. Rasmus is author of the forthcoming book, ‘The Scourge of Neoliberalism: US Policy from Reagan to Trump’, forthcoming 2019 by Clarity Press. He hosts the weekly radio show, Alternative Visions, on the Progressive Radio Network and blogs at jackrasmus.com. His twitter handle is @drjackrasmus.

How the City of London Shaped Modern Finance

Financial District of London and the Tower Bridge

The City of London occupies a divisive role in our collective aspirations and viewpoints. For some, it is the global epicenter of dynamism, influence, and power, while for others it serves as a reminder of all that is wrong with post-2008 finance, with the unabated deregulation and rampant inequality that is its hallmark. One thing that everyone can agree on is that the City of London, in spite of the disruptions of recent years, remains the center of global finance and is the economic powerhouse of the world.

Even similar financial behemoths such as Wall Street, Frankfurt’s Bankenviertel, and the La Defense district of Paris are eclipsed by the influence of the Square Mile. While The City owes its domination to a lot of factors, it is mainly down to the role it has played in shaping global finance as we know it today. Here’s how.

The Original Champion of Deregulation

Image Source: www.express.co.uk

With the 2008 economic crash making all of us more wary of the dangers of an unregulated financial sector, it can be hard to imagine that this was not always the norm. Following the post-war period, London was languishing as an indebted financial backwater, while New York and Zurich were ascendant. What changed all of this was the “Big Bang” of the 1980s, implemented by then prime minister Margaret Thatcher.

Before this development, which amounted to the greatest deregulation of finance in human history, all of the big financial centers were closely controlled by the government. Capital controls existed even in laissez-faire America, and foreign exchange was tightly monitored, while costly and time-consuming licenses were needed for all kinds of trade. Thatcher’s reshaping of The City paved the way for global deregulation, as London skyrocketed and other financial centers had to adapt to survive. This legacy lives on today.

The Creator of Innovative New Products and Services 

Few people know that many of the financial products that are traded around the world. today were in fact created in the City of London. For example, contracts for difference or CFD, are today one of the most popular and widely-traded derivatives on the planet. However, they only came into existence during the early 1990s, when two City traders from UBS Warburg invented them to allow big hedge funds to hedge their exposure to stock on the London Stock Exchange.

Similarly, London was the pioneer for foreign exchange trading, at a time when Wall Street was still occupied with stock trading, despite the clear decline ahead. The first major foreign exchange trading companies opened in The City, and today almost $3 billion of foreign exchanges occur within the Square Mile every day, eclipsing competitors.

City of London Skyline At Sunset, United Kingdom

Making the Case for Globalization

To conclude, the most important way that London has shaped global finance is through how it has acted as a force for globalization on a scale never before seen. This stretches all the way back to when The City was the center of the British Empire, and continues today, with London being by far the most international center for finance. Whatever happens in the future, this will likely always be the case, as it always has been.

Brazil – Bolsonaro Towards a Military Dictatorship – Worse than 80 Years Ago

Silhouette of raised arms and clenched fists on the background of the flag of Brazil. The concept of power, power, conflict. With place for your text. Brazil military conflict

By Peter Koenig

One week before the second round of voting in Brazil, Jair Bolsonaro, the extreme right-wing candidate from the Social Liberal Party (PSL), against Fernando Haddad from the Worker’s Party (PT), Lula’s Party, for Brazil’s Presidential run-off elections – Bolsonaro leads to polls by double digits, about 58 against 42. And the gap is growing, despite the fact that as recent as end of September 2018, Brazilian women campaigned massively against Bolsonaro with the hashtag #EleNao (Not Him). His misogynist record left him with only 27% of women supporters only a couple of weeks ago. Massive cheat-and lie-propaganda increased that ratio by now to 42%. – Does anybody seriously believe that Bolsonaro has changed his racist character and his women-degrading attitude? – It is mind-boggling how people fall for propaganda lies and manipulations.

The usual propaganda of deceit from the right has infiltrated every election in the last 5-10 years, starting with the sophisticated internet and propaganda fraud invented by Oxford Analytica (OA), which is largely believed having brought Trump to the White House, Macri to the Casa Rosada in Buenos Aires, Macron to the Elysée in Paris and Mme. Merkel for the fourth time to the German Federal Chanceller’s office in Berlin – among others. OA is also said having helped the BREXIT supporters. In the meantime, OA’s dirty election manipulation methods have been mainstreamed to the mainstream media – with lots and lots of corporate and banking money.

In fact, the frontrunner Bolsonaro is currently being accused by his opponent Fernando Haddad, of a ‘fraud and fake news’ campaign, and that just a few days before the run-off. The charge is that Bolsonaro is running a multi-million-dollar defamation campaign against Haddad, via whatsapp and other social media. This means sending out literally millions of tailor-made messages to potential groups of voters. That’s the way of the of OA’s algorithms.

Leading to an indictment of Bolsonaro is hardly a realistic chance, as he is supported by the current corrupt and fascist-type Temer Government and all the high judges who have impeded Lula’s legitimate request for running for Presidency.

According to RT, Haddad told a media conference in Rio, “We have identified a campaign of slander and defamation via WhatsApp and, given the mass of messages, we know that there was dirty money behind it, because it wasn’t registered with the Supreme Electoral Tribunal.” This, after the Folha de S.Paulo newspaper uncovered a suspected election fraud. The publication alleges that a group of entrepreneurs are backing a multi-million-dollar slander campaign that would use several popular social media apps to reach out to Haddad supporters and smear his name with ‘fake news’.

We can only hope that the discovery of this slander and fraud may not be too late to stop Bolsonaro’s end run – and to inform voters. Leading to an indictment of Bolsonaro is hardly a realistic chance, as he is supported by the current corrupt and fascist-type Temer Government and all the high judges who have impeded Lula’s legitimate request for running for Presidency. Only voters’ consciousness may make a difference.

Imagine what happens, if Bolsonaro is elected? – It is hardly fathomable. Bolsonaro has already declared that if elected he will render full power to the military. “When I’m elected, those who will command are the (military) captains”. His word – in Portuguese.

He is a fascist no doubt. There were other fascist military governments in Brazil, like Getúlio Vargas, who reigned from 1930-1945 as a military dictator mostly by decree. He abrogated the 1891 Constitution and introduced a new one in 1934 which was overturned, when finally, in 1945 Vargas was deposed and a new democratization process began with a new Constitution being introduced in 1946. But that was not all for fascism and military dictatorship in Brazil. There was more to come in the decades preceding Lula.

Another brutal military government came to power in 1964 by a coup d’état by the Armed Forces. It ruled Brazil from 1 April 1964 to 15 March 1985 by President Joao Goulart. It came to an end when José Sarney took office on 15 March 1985. What’s important to know is that both the Vargas coup of 1930, as well as the 1964 military coup were supported by the US Embassy in Brazil and the State Department in Washington. Mr. Bolsonaro has already today – after the first election round – the full support of Washington. He was immediately congratulated by the Trump government after the October 7 election result were known.

If no miracle happens within the coming week, Brazil may be slanted to go back some 90 years, into a fierce military dictatorship. Worse, today with the neoliberal doctrine being the overarching last word on economic policies, also for the military. We are looking at full privatization of everything, of social services, water and health privatization has already begun; basic and profitable infrastructure, natural resources – and the IMF, World Bank, FED-Wall Street indebtment is already well under way and its future programmed, including a devastating austerity program which under unelected Mr. Corrupt Temer has already started.

Brazil could become South America’s Greece – just multiplied by a factor of 100.

In fact, economic disaster in terms of dependence on IMF, WB and the FED, may also loom under Haddad, who has already said he would work with the financial fiefdom of Washington. As Luiz Inacio Lula did, when he was elected in 2002. He was the “golden example boy” for the IMF, following strictly the rules he was taught would bring progress to his country.  Later he realized what was actually going on within the financial sector of Brazil. He corrected some of the aberrations, but many stayed in place throughout Dilma Rousseff’s Presidency.

Brazil could become South America’s Greece – just multiplied by a factor of 100.

Just imagine the political and economic impact this would have on the Latin American region. Brazil is by far the largest economy of Latin America with a GDP of about 2.1 trillion US-dollars in 2017, a population of 210 million and a landmass 8.516 million km2 – and with the world’s largest known fresh water reserves. Trade without Brazil is unthinkable for Latin America and the world. Plus, a Bolsonaro regime would have full ideological and military support from Washington. In fact – Brazil may soon become the second South American NATO country after Colombia.

How would Venezuela feel, surrounded by two fierce militarized NATO countries? – Washington could just smile and watch, while Colombia and Brazil – and their NATO command – would do the rest. Or would they? – Venezuela is on the best way to detach herself from the dollar hegemony and ally with the East. And that not only in trade, but also in huge investments from China and Russia. Invading Venezuela would not be easy, despite NATO from the east and from the west and with the empire just across the Caribbean.

Back to Bolsonaro. It will not be as easy to thrash this fascist military doctrine, of a President, hitherto hardly known to the outside world, down the average Brazilians’ throats. Their vote and mind may be manipulated, but once they wake up – the election may be past, and the Temer policies implemented by factors of ten – social suffering will increase, à la Greece – people may simply not take it.

It was clear that politically Brazil would and could no longer adhere to the principles that was behind the BRICS association, namely economic independence from the debt masters IMF, World Bank and FED.

They will realize that this entire propaganda farce serves only a few Brazilian oligarchs, but mostly the transnational corporations and banks. – Will they take to the streets? Demand another government, fight for their rights? Brazilians are not (yet) the kind to double up and shut up, as the Greeks had to do, weakened by a Government of treason, by an absence of medical and other social services and by a low-low moral that is reflected in an exponentially rising suicide rate, according to the British Lancet. Brazilians may have learned a lesson.

Brazil and the BRICS. Already under Temer, Brazil’s role in the BRICS was merely anecdotal. It was clear that politically Brazil would and could no longer adhere to the principles that was behind the BRICS association, namely economic independence from the debt masters IMF, World Bank and FED. – What with Bolsonaro? – It would behoove the BRICS expulsing Brazil; sending Brazilians a warning now, before the run-off elections, that no fascist government could be admitted within the ranks of the BRICS. Fascism is the absolute antidote to the new alliances of SCO, BRICS, EEU, and newly the Caspian Sea Alliance (Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan).

But – and this is highly important – let’s not let it get out of hand. Let not Bolsonaro being elected this coming Sunday. Make the right choice now. Regardless what you are being manipulated to believe. Stand up Brazilians, Women and men – say #NAO Bolsonaro!

Featured Image: Jair Bolsonaro shown after casting his vote during general elections in Rio de Janeiro, Brazil, Oct. 28, 2018. He won the presidential election by about 10 points. (Buda Mendes/Getty Images)

About the Author

Peter Koenig is an economist and geopolitical analyst. He is also a water resources and environmental specialist. He worked for over 30 years with the World Bank and the World Health Organization around the world in the fields of environment and water. He lectures at universities in the US, Europe and South America. He writes regularly for Global Research; ICH; RT; Sputnik; PressTV; The 21st Century; TeleSUR; The Vineyard of The Saker Blog, the New Eastern Outlook (NEO); and other internet sites. He is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed – fiction based on facts and on 30 years of World Bank experience around the globe. He is also a co-author of The World Order and Revolution! – Essays from the Resistance.

Peter Koenig is a Research Associate of the Centre for Research on Globalization.

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