Showing posts from June 2, 2016

Why Some of the Smartest Progressives I Know Will Vote for Trump over Hillary

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[Even on Wall Street, a powerful Sanders contingent so hates what Clinton stands for—the status quo—they’ll pull the lever for almost anyone else. *RON*]
By Yves Smith, Politico, 1 June 2016
Why do progressives reject Hillary Clinton? The highly educated, high-income, finance-literate readers of my website, Naked Capitalism, don’t just overwhelmingly favor Bernie Sanders. They also say “Hell no!” to Hillary Clinton to the degree that many say they would even vote for Donald Trump over her.

And they don’t come by these views casually. Their conclusions are the result of careful study of her record and her policy proposals. They believe the country can no longer endure the status quo that Clinton represents—one of crushing inequality, and an economy that is literally killing off the less fortunate—and any change will be better. One reader writes:

“If Clinton is the nominee 9 out of 10 friends I polled will [do one of three things]:

A. Not vote for pr…

How Blockchain Technology Could Change The World


EU’s Politically Biased Tax Haven Blacklist Excludes US and Switzerland

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[It's those uppity developing nations that need to be punished for horning in on the profiteering of the Big Boys! *RON*]
Posted on Naked Capitalism by Yves Smith on 2 June 2016.

Yves here. Only small fry get whacked for being tax havens. Remember Cyprus?

Originally published at Tax Justice Network

From Eurodad:
This week, European Union finance ministers agreed to establish a common EU blacklist of so-called “non-cooperative jurisdictions” – in other words, tax havens. With one tax scandal unfolding after the other, listing and sanctioning tax havens may seem like a good solution. However, as tempting as it may sound, this EU exercise is doomed to fail – and here’s why.

...Tax havens are not an external matter to the EU, quite the contrary – some of the world’s most powerful tax havens are to be found in Europe. For example, a new report from Oxfam uses European Commission (EC) data to analyse the role of the Netherlands as a corporate tax haven…

The NRA's Insane Advice: Store Guns in Children's Bedrooms

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[The NRA continues to push the limits of The Darwin Awards. One speaker recommends keeping guns in chilrens' bedrooms. Yet, "only 39 percent of gun-owning families keep their firearms locked, unloaded, and separate from ammunition" as recommended. *RON*]
By Robin ScherAlterNet, 1 June 2016

“Guns don’t kill people, people kill people,” is the dumbest defense against stricter gun control laws, closely rivaled by "the only thing that stops a bad guy with a gun is a good guy with a gun."

Just this year 23 people in America have been shot by toddlers. According to Everytown for Gun Safety, a research group dedicated to reducing gun violence, the U.S has “one of the highest rates of unintentional child gun deaths in the world.” So if guns are meant to be protecting innocent citizens, what do we make of so many innocent kids shooting themselves and others?

Still, for some reason, various states seem eager to get guns into as many…

Most For-Profit Students Wind Up Worse Off Than If They Had Never Enrolled in the First Place

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[A new analysis of attendees' earnings is in, and it doesn't look good. This mainly affects older black women who attend these online, for-profit institutions in disproportionate numbers, but often fail to complete their studies (the drop-out rates in private universities are twice as high as in public ones). "The overwhelming number of students who don’t complete their degrees account for most of this pattern. Six years after attending these programs, for-profit college attendees were not only earning less, but were often saddled with debt and often without new credentials." *RON*]

Bourree Lam, The Atlantic, 1 June 2016

The for-profit-college industry appears to be facing its moment of reckoning. The closing of Corinthian Colleges in April of last year, once a big player in the industry, left thousands of students in debt and without degrees. In the months since, the Department of Education has forgiven more than $27 million i…

First Rise in U.S. Death Rate in Years Surprises Experts

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[More from the class wars: "...the finding seemed to fit the broader pattern of rising mortality among working-class whites," a finding that, in turn, was found to be heavily influenced by rising inequality. *RON*]

By Sabrina Tavernise, New York Times, 1 June 2016

WASHINGTON — The death rate in the United States rose last year for the first time in a decade, preliminary federal data show, a rare increase that was driven in part by more people dying from drug overdoses, suicide and Alzheimer’s disease. The death rate from heart disease, long in decline, edged up slightly.

Death rates — measured as the number of deaths per 100,000 people — have been declining for years, an effect of improvements in health, disease management and medical technology.

While recent research has documented sharp rises in death rates among certain groups — in particular less educated whites, who have been hardest hit by the prescription drug epidemic — increases …