Educators From The United States

"It’s a tectonic shift [the decline of an empire and the rise of another one]. Let’s look at this from Russia’s point of view. This is everything that Russia has been aiming at and insisting upon for the last five years. President Putin and Foreign Minister Lavrov have been leading the understanding that the world needs to be de-dollarized, that the United States has declared an economic war against Russia, China and their allies, really against Eurasia. So, in effect, by drawing the sanctions — not only the sanctions — but the most important thing is by seizing Russia’s foreign holdings in the United States, its treasury bond holdings and the bank deposits."

"As President Biden explained, the current U.S.-orchestrated military escalation (“Prodding the Bear”) is not really about Ukraine. Biden promised at the outset that no U.S. troops would be involved. But he has been demanding for over a year that Germany prevent the Nord Stream 2 pipeline from supplying its industry and housing with low-priced gas and turn to the much higher-priced U.S. suppliers.... So the most pressing U.S. strategic aim of NATO confrontation with Russia is soaring oil and gas prices, above all to the detriment of Germany. In addition to creating profits and stock-market gains for U.S. oil companies, higher energy prices will take much of the steam out of the German economy."

"There was actually no liquidity crisis whatsoever... the reason that the regular newspapers don't report it is the loans violated every element of the Dodd-Frank laws that were supposed to prevent the Fed from making loans to particular banks that were not part of a liquidity crisis... these three banks, Chase Manhattan, Goldman Sachs – which used to be a brokerage firm – and Citibank, that the Federal Reserve laws and the Dodd-Frank Act explicitly prevent the Fed from making loans to particular banks... month after month, the Fed was pumping money into JP Morgan and Citibank and Goldman... these really weren't Citibank and Morgan Chase; it was to their trading affiliates. Now this is exactly what Dodd-Frank was supposed to prevent..."

"When Biden gave his speech last week, there was a very marked change, right in the middle of it. The very beginning was very calm, offering means of improvement for the American economy, and a set of proposals that were so wonderful that they don’t have the chance of being enacted. And that was simply to co-opt what calls itself the left wing of the Democratic Party, if that’s not an oxymoron. And when all of a sudden, his body language changed, his voice changed, and there was just an anger towards Russia and towards China, a visceral anger that brought back the whole 30 years of his tenure in Congress... he’s escalating the cold war against Russia and China, in the belief that somehow if he can impose sanctions and punish them economically, that will lead to a fall of the government. Well, you can see what he’s projecting here."

"It is worthwhile to note that our global imposition of the mythical “efficiencies” of forcing Latin American countries to become plantations for export crops like coffee and bananas rather than growing their own wheat and corn has failed catastrophically to deliver better lives, especially...in Central America.... witness the caravans and refugees across Mexico. Of course, our backing of the most brutal military dictators and crime lords has not helped either. Likewise, the IMF has been forced to admit that its basic guidelines were fictitious from the beginning...It is as if the IMF now operates out of a small room in the basement of the Pentagon in Washington... It’s now out in the open..."

"The Neocons who Trump has appointed are accomplishing what seemed unthinkable not long ago: Driving China and Russia together... After the crescendo of pretenses and deceptions over Iraq, Libya and Syria, along with our absolution of the lawless regime of Saudi Arabia, foreign political leaders are coming to recognize what world-wide public opinion polls reported even before the Iraq/Iran-Contra boys turned their attention to the world’s largest oil reserves in Venezuela: The United States is now the greatest threat to peace on the planet."

"The Deep State is reacting with shock at how this right-wing real estate grifter has been able to drive other countries to defend themselves by dismantling the U.S.-centered world order. To rub it in, he is using Bush and Reagan-era Neocon arsonists, John Bolton and now Elliott Abrams, to fan the flames in Venezuela. It is almost like a black political comedy. The world of international diplomacy is being turned inside-out. A world where there is no longer even a pretense that we might adhere to international norms, let alone laws or treaties."

"The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America... The United State['s]... violent regime change warfare against Venezuela and Syria – and threatening other countries with sanctions if they do not join this crusade – is driving European and other nations to create their alternative financial institutions...."

"The job of the Federal Reserve is to increase the price of wealth and stocks and real estate relative to labor. The Federal Reserve is sort of waging class war. It wants to increase the assets of the 1 percent relative to the earnings of the 99 percent, and we’re seeing the fact that this, the effect of this class war is so successful it’s plunged the economy into debt, slowed the economy, and led to the crisis we have today."

"Well, companies themselves have been causing this crisis as much as speculators, because companies like Amazon, like Google, or Apple especially, have been borrowing money to buy their own stock. Corporate activists, stockholder activists, have told these companies, we want you to put us on the board because we want you to borrow at 1 percent to buy your stock yielding 5 percent. You’ll get rich in no time. So these stock buybacks by Apple and by other companies at high prices can push up their stock price in the short term. But when prices crash, their net worth is all of a sudden plunging... this morning in the stock market was a huge wipeout of borrowed money on which people thought the market would go up, and the Federal Reserve would be able to inflate prices."

"if you increase living standards you make labor more productive. This is why Asia today is becoming more productive than the United States."

"To the deficit commission, a depression is the solution to the problem, not a problem."

"If you look at the speeches he gave just before he left the Fed, it's pretty much “After me - the Deluge. I'm getting out while my reputation's intact”."

"The one sure mark of a con, though, is the promise of free money."

"… it is shameful that there are so few women in science... In China there are many, many women in physics. There is a misconception in America that women scientists are all dowdy spinsters. This is the fault of men. In Chinese society, a woman is valued for what she is, and men encourage her to accomplishments yet she remains eternally feminine."

"The stark truth about Ben Bernanke’s “historic” policy of global liquidity support was that it involved handing trillions of dollars in loans to that coterie of banks, their shareholders and their outrageously remunerated senior staff. Indeed, as we shall see, we can itemize precisely who got what. To compound the embarrassment, though the Fed is a national central bank, at least half the liquidity support it provided went to banks not headquartered in the United States, but located overwhelmingly in Europe. If in intellectual terms the crisis was a crisis of macroeconomics, if in practical terms it was a crisis of the conventional tools of monetary policy, it was by the same token a deep crisis of modern politics. However unprecedented and effective the Fed’s actions might have been, even for those politicians whose support for globalization was unfailing, its practical implications were barely speakable. Though it is hardly a secret that we inhabit a world dominated by business oligopolies, during the crisis and its aftermath this reality and its implications for the priorities of government stood nakedly exposed. It is an unpalatable and explosive truth that democratic politics on both sides of the Atlantic has choked on."

"For nearly eight years, Ben has led the Fed through some of the most daunting economic challenges of our lifetime. . . . [W]hen faced with a potential global economic meltdown, he has displayed tremendous courage and creativity. He took bold action that was needed to avert another Depression - helping us stop the free fall, stabilize financial markets, shore up our banks, get credit flowing again. And all this has made a profound difference in the lives of millions of Americans. . . . [Now] more families are able to afford their own home; more small businesses are able to get loans to expand and hire workers; more folks can pay their mortgages and their car loans. It’s meant more growth and more jobs."

"Obviously, based on the crisis and what happened and the effects that we're still feeling, it's now clear that maintaining financial stability is just as an important a responsibility as monetary and economic stability. And indeed, this is, you know, very much a return to the—where the Fed came from in the beginning. Remember the reason that Fed was created was to try to reduce the incidents of financial panics, so financial stability was the original goal of creation of the Fed. So now we sort of come full circle."

"We did stop the meltdown. We avoided what would have been, I think, a collapse of the global financial system. That was obviously a good thing. But one thing that I was always sure of and the Federal Reserve was always sure of was that a collapse of some of these big financial firms was going to have very serious collateral consequences. There were people arguing even as late as September 2008, “Well, why don't you just let the firms collapse? There is a system that can take care of it: bankruptcy. Why don't you let them fail?” We never thought that was a good option. Particularly, if the whole system had collapsed, we would have had extraordinarily serious consequences."

"I want to make sure you keep your eyes on the ball, that is, the two basic missions of a central bank. The first is maintaining macroeconomic stability: maintaining stable growth and keeping inflation low and stable. The principal policy tool for maintaining macroeconomic stability is monetary policy. In normal times, the Fed and other central banks use open market operations—purchases and sales of securities in markets—to move interest rates up or down, and in doing so try to create a more stable macroeconomic environment. The second part of a central bank's mission is maintaining financial stability. Central banks are focused on trying to ensure that the financial system functions properly, and in particular, they want to prevent, if possible, and if not, to mitigate the effects of a financial crisis or a financial panic."

"It was a global depression, had many causes, the whole story requires you to look at the whole international system. But policy errors in United States, as well as abroad, did play an important role. And in particular as I said, the Federal Reserve failed in this first challenge in both parts of its mission. It did not use monetary policy aggressively to prevent deflation and the collapse in the economy, so it failed in its economic stability function. And it didn't adequately perform its function as lender of last resort allowing many bank failures and a resulting contraction in credit and also with the money supply. So, in that respect, again, the Fed did not fulfill its intended mission."

"Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies."

"To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above."

"House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas."

"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

"There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse."

"The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers."

"I like mindful people. Fear prevents mindfulness, and then greed marches in because you are fearful, so you feel like you have to shore everything up."

"There are all sorts of transcendent response on offer but they to my mind are not necessary to call oneself religious. And obviously this is … semantics as much as anything else. But I do go ahead and consider myself a religious person."

"Well, God answers of course come in every flavor imaginable these days so God can be process-God can be mind-God … so there are all of these ways that God is now configured as well as the ones that come to us from traditional religions where God has much more power — then there's the whole personal God part which I do talk about in there at some point. So I don't think that even that there is a God framework out there at this point that I am either accepting or rejecting. My response is that I call myself a non-theist as opposed to an atheist because as I see an atheist as having a belief about God, i.e. that there isn't one. And my I've never been actually very interested in the question I guess is one way to put it. I see it as a question That can be summarized in the aphorism "Why is there anything at all rather than nothing." And science doesn't have any answer to That so what I articulated in the book and continued to do is what I call a covenant with mystery where mystery is itself a … noun but I am using it as literally in absence of category. It's not like I have a mystery then I put attributions onto it it just … I don't know the answers."

"Naturalism has been defined by many people. It's just a world view that does not include the supernatural so it's everything else."

"You can't have thought without emotion, and one emotion is fear, and making an important decision on the basis of fear is not a good idea. So develop your courage."

"What scares me? The way the world is going. People seem to think that development is more important than sustainability. That fundamentalism is more important than openness. That racial differences should dictate political decisions. That a person's sexuality is somebody else's business."

"There are two kinds of power. "Power over" is very problematical. "Power within" is very exciting. You can tell the difference by whether you are messing with other people or not."

"Law is necessary, but in a more functional culture, it would presumably be less necessary than it is now, because people would know what to do."

"The word "religion" goes back to the Latin ligere, "to bind." So religion means "to bind together again." I think we should develop religions that allow us to do that."

"Reverence is the sense that there is something larger than the self, larger even than the human, to which one accords respect and awe and assent."

"The most reliable joy is to be out of doors, to be a creature among other creatures. I find it very restful."

"We all eat or are eaten. That's the way life works, it's a greater rhythm. And that's why science and the understandings it has uncovered can be a source of joy. This all relates to assent, a very important Judeo-Christian concept. "Thy will be done" is a God-kind of assent. "God works in mysterious ways," and you're supposed to give assent even if you don't like it. As a religious naturalist, I think of assent differently. Assent is saying, "Okay, for whatever reason, this is the way life works. It's an acceptance of what is. After that fundamental acceptance, I can live my life to minimize suffering and promote as much as good as I can, and try through whatever work I do to help others." We can't get around death, but we can get around poverty. We can try to avoid women being brutalized. We can curb environmental degradation. One can start from the perspective of a religious naturalist or from the perspective of the world religions and arrive at the same place: a moral imperative that this Earth and its creatures be respected and cherished."

"The people who are truly bothered by God-concepts and find them stupid or ignorant or pathological are those like Richard Dawkins who just can't even imagine anybody having such concepts. That view is almost like homophobia — it's not open and pluralistic. I'm much more interested in helping people engage in this story of evolution. If they do that with theistic language, that's great."

"There are two flavors of God people: those whose God is natural and those whose God is supernatural. Certainly there are a lot of people within religious naturalism who have no problem with God language — God as love, God as evolution, God as process. People see God as part of nature and give God-attributes to the part of nature that they find most sacred. I encounter people like that all the time."

"Perhaps we should all settle down and think about what's good in the world and what we want to do here. If we find this planet and its history and its story to be sacred, let's preserve and nourish it, and then we can go home at night and say whatever prayers we choose."

"The good stuff of most religions turns out to be a golden rule that defines a morality which allows humans to flourish in community. We come from a whole lineage of creatures who are robustly social and have communities that work, so you look at how their flourishing communities are set up. Are there parallels between how life works in a structured, non-human primate group, in a human community, and in the moral guidelines religion offers? It's not all that different as far as I can tell-there is hierarchy, strategic reciprocity, nurture and empathy."

"The Buddhist view is more congruent with evolution than are other views. You can actually have beginning-less-ness and still have creation of a particular universe … The part that doesn't jibe for me is the whole notion that consciousness is this separate thing that goes in and out of sentient beings."

"The big bang is obviously one form of beginning, but the big bang in itself is unimaginable. It's one thing to think about God making a flower or infusing the planet with love, but to imagine what might be behind the big bang is so removed from real life that it actually loses importance for me. There's so much else to think about that's here and now. I like the Buddhist concept of beginning-less-ness, that the universe has always been going on."

"I don't have any problem accessing experiences of unity. I feel completely part of the universe and all that's going on. When I try to describe it, people say I'm obviously a mystic. It doesn't seem mystical to me in a theistic sense. It's not a state that engenders in me any sense that God is watching over me and paying attention to what I'm doing. It's much more what I understand the Eastern traditions to be talking about — a belonging to the universe, an overflow of astonishment and wonder and peace and tranquility."

"A great many people say we have language and imagination to posit creators, interveners, and agencies that we can't actually prove. And yet some people experience God within them--these experiences are not drawn-up hypotheses. It's possible those of us who don't feel God within them have deficient brains that aren't capable of such experiences; or alternatively, the people who experience these things have brains that somehow create them. As near as I can tell, the jury is out on that. I may be a non-theist who doesn't include a god concept in my religious orientation because I have an incompetent brain, or perhaps theists have brains giving them inaccurate information."

"All life has a kind of seamlessness. All creatures have to be aware of their environment, and there has been an evolution of the capacities needed for detecting increasingly complex stimuli. I have no problem calling this "meaning," since all creatures pick out meaningful facets of their environment. For the first creatures, these facets were physical and mediated by receptor proteins. Sperm and eggs find each other by protein shapes; photosynthetic bacteria find light by protein shapes. The impetus to figure out what's going on is still very much programmed into our highly complex brains."

"Humans need stories — grand compelling stories — that help to orient us in our lives in the cosmos. The Epic of Evolution is such a story, beautifully suited to anchor our search for planetary consensus, telling us of our nature, our place, our context. Moreover, responses to this story — what we are calling religious naturalism — can yield deep and abiding spiritual experiences. And then, after that, we need other stories as well, human-centered stories, a mythos that embodies our ideals and our passions. This mythos comes to us, often in experiences called revelation, from the sages and the artists of past and present times."

"I love traditional religions. Whenever I wander into distinctive churches or mosques or temples, or visit museums of religious art, or hear performances of sacred music, I am enthralled by the beauty and solemnity and power they offer. Once we have our feelings about Nature in place, then I believe that we can also find important ways to call ourselves Jews, or Muslims, or Taoists, or Hopi, or Hindus, or Christians, or Buddhists. Or some of each. The words in the traditional texts may sound different to us than they did to their authors, but they continue to resonate with our religious selves. We know what they are intended to mean."