Both The Market and Government Are Irrational

Paul Craig Roberts

When the Occupy Wall Street movement says that Washington rules for the benefit of the 1%, OWS is not far off the mark.

One of the great economic myths is that markets are rational. Not a day passes without this myth being disproved scores of times, but the myth persists.

For example, today (March 14) Bank of America/Merrill Lynch reported that “yesterday US markets started the day off with a strong rally after the solid retail sales report. . . . tailwinds are helping boost global equity markets today.”

The "solid retail sales report" for February consists of 1% nominal gain. That is, the increase is not deflated by the month's inflation rate, which will be released on March 16. In other words, if very much of the 1%nominal gain in retail sales is due to higher prices, the inflation adjusted gain will not be statistically significant. The "rational market" took off without waiting to find out whether the gain was real.

Moreover, as statistician John Williams has established, the official Consumer Price Index (CPI) understates inflation. If an honest measure of inflation was used, retail sales could be in negative territory.


Israeli-Style Ceasefires + Israel's Latest Ritual Slaughter

Stephen Lendman


A Palestinian fireman extinguishes a fire at a building after
an Israeli air strike on Gaza City.
(M. Abed/AFP/Getty)

International laws are clear and unequivocal. Fourth Geneva's Article 146 requires "the High Contracting Parties undertake to respect and to ensure respect for the present Convention in all circumstances."

They're required to prosecute offenders committing grave breaches, including crimes of war and against humanity. Israel and America get off scot-free. Their lawlessness continues unabated and unpunished.

Both countries spurn international laws, norms and obligations with impunity. Ceasefires also aren't observed.

Four days of Israeli terror bombing left at least 25 Palestinian dead and dozens injured, some seriously. Civilian men, women and children were affected.

After an Egyptian brokered truce all Gazan sides accepted, Israel preemptively attacked a funeral procession east of Gaza City. Three Palestinians were injured. On March 14, Israeli warplanes bombed northern Gaza. Damage but no injuries were reported.

In response, Islamic Jihad held a Monday press conference, saying:

"We will not agree on a (one-sided) ceasefire stipulated by Israel. Neither do we accept (one) while the lives of our people are taken without restraint."

"Those who have hardly had time to breathe while they seek a ceasefire deal should send their message to the enemy, rather than to the resistance."

Both sides are obligated to observe agreed on ceasefires. Unilateral acceptance doesn't work. Palestinians tried numerous times futilely. Israeli killing continues unabated. It still does plus ongoing crimes against humanity throughout the Territories.

Once again, Israeli authorities proved their mettle. They say one thing and do another. Decades of occupation showed negotiating with vipers don't work. In Occupied Palestine, they're lawless, racist, vicious, and ruthless.


To Disavow or Debate Gilad Atzmon?

Washington Report on Middle East Affairs

Last night Ali Abunimah and other respected Palestinian writers and activists signed a statement calling for “The Disavowal of the Racism and Antisemitism of Gilad Atzmon,” who is winding up his U.S. tour with events in Washington, DC today and tomorrow. The Washington Report is convinced that Atzmon’s interview tonight by Prof. Norton Mezvinsky couldn’t come at a better time. Please read Abunimah’s statement and Atzmon’s response below. Then come to tonight’s discussion and decide for yourself whether to shun Atzmon or engage him in debate. For those who want to further explore the renowned jazz musician’s ideas and music, copies of Atzmon’s latest book, The Wandering Who?, as well as his three CDs, will be available for purchase.

Wednesday, March 14, 6:30-8:30 PM Gilad Atzmon is interviewed by Prof. Norton Mezvinsky, (Connecticut State University Professor of History Emeritus) at Mount Vernon Place United Methodist Church, 900 Massachusetts Ave., NW, Washington, DC 20001 (free, open to public, light dinner)
Thursday, March 15, 5-6:30 PM DC Peace House, 1233 12th St. NW, Washington DC 20005


Psychologists Paid by Guantanamo's Masters Will Never Dismantle Their House of Torture

Roy Eidelson

Amid disturbing reports that psychologists were involved in the abuse and torture of prisoners at Guantanamo Bay and elsewhere, the American Psychological Association (APA) Task Force on Psychological Ethics and National Security (PENS) met in the summer of 2005. Over two days, they considered whether the Bush administration's no-holds-barred "enhanced interrogation" policies crossed ethical boundaries for military psychologists. Six of the nine voting task force members were on the payroll of the military/intelligence establishment, and several of them worked in the chains of command when and where instances of abuse and torture had reportedly occurred. So, we should not be surprised by the task force's conclusion that psychologists play an important role in keeping detainee interrogations "safe, legal, ethical, and effective." This assessment affirmed, nearly verbatim, the military's own description of Behavioral Science Consultation Team (BSCT) psychologists - a description that had been provided to the task force in writing before their deliberations even began.


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