Tag: Economy

cross-posted from Voices on the Square

The Debt Ceiling debate is Yet Another GOP Abuse of the System, but the entire debate runs under the pretense that the Treasury cannot sell new bonds if the Debt Ceiling is not raised.

Look at the history of the debt ceiling, and its easy to see where people get that idea. Way back when, the Treasury went to Congress for each and every new bond issue. Then in 1917, with war breaking out in Europe, Congress reformed the system to give the Treasury more freedom of action, establishing an overall ceiling within which it could issue bonds. It was like moving from a series of individually negotiated loans with a bank to obtaining an approved credit line with the bank.

From 1917 to 2010, the increase of the debt ceiling when required was a routine transaction. But after the radical reactionary wing of the Republican party ran under the successful “Tea Party” branding, a number of radical reactionary GOP Congressmen balked at this routine transaction, and took the full faith and credit of the US Government hostage. This resulted in the “sequester” debacle, in which spending cuts that were deliberately designed to punish the American people in case Congress could not agree on the insane policy of cutting spending in the middle of what is now a five year old Depression. Congress could not agree, and so the brain-dead punitive spending cuts were put in place instead.

After that experience, turning out as badly as progressive populist critics at the time said it would, now there are bold words from the White House demanding a clean debt ceiling vote, without any hostage taking.

The good news is that if the Treasury turns to Consol Bonds, they can win this fight no matter what the radical reactionary wing of the House Republicans decide to do.

“Memory believes before knowing remembers. Believes longer than recollects, longer than knowing even wonders. Knows remembers believes a corridor in a big long garbled cold echoing building of dark red brick … where in random erratic surges, with sparrowlike childtrebling, orphans in identical and uniform blue denim in and out of remembering but in knowing constant as the bleak walls, the bleak windows where in rain soot from the yearly adjacenting chimneys streaked like black tears.”

–William Faulkner, 1932

“Infants process a great deal of information through mechanisms involving procedural memory and begin to assemble their repertoire of survival-based learning long before conscious memory is developed.”

— Robert Scaer, 2005

Child poverty is a form of child abuse perpetrated by society as a whole on its most vulnerable, helpless members, and its effects are permanent and devastating. After reviewing some newly released data on child poverty in America, this essay discusses some of the devastating impacts of child poverty on a personal level.

Even as mainstream economists tout macro-economic data showing the economy picking up steam, poverty in the U.S. remains stubbornly high, according to data released last week by the Census Bureau.

For the eleventh time in twelve years, poverty has worsened or gotten no better. The official poverty rate–which greatly understates actual poverty–remains at 15%, meaning that 46.5 million Americans are living on less than $18,300 for a family of three, including 21.8% of all children (16.1 million kids), 27.2% of African-Americans, 25.6% of Hispanics and more than 28% of people with disabilities.

That’s $6,000 a year per person, or $500 per month. Try living on that some time and then tell me, like that entitled billionaire boob Michael Bloomberg, that America’s poor aren’t really poor.

From 2000 to 2012, poverty increased overall by 3.7%, and by 5.6% among children, even as median income for non-elderly households fell from $64,843 to $57,353, a decline of $7,490, or 11.6%.

In 2012, more than one-third (34.6%) of all people living in poverty were children, including 37.9% of black children and 33.8% of Hispanic children. The poverty rate for families with children headed by single mothers was 40.9%, and of the 7.1 million families with children living in poverty, 4.1 million (57.7%) are headed by a single mother.

But nearly half of the poor-43.9% or 20.4 million Americans-live below one-half of the poverty line, or $9,150 for a family of three. Thus 6.6% of the total population lives in “deep poverty,” including 7.16 million children.

Also remaining stagnant last year at 106 million Americans was the number of those living in “near poverty,” below twice the poverty line-less than $36,600 for a family of three. This means that more than one in three Americans are either already poor or are living one catastrophe-a job loss or serious illness-away from poverty.

“Personal problems are political problems. There are no personal solutions at this time. There is only collective action for a collective solution.”

— Carol Hanisch, 1969

Effective regulation, and on that note, it is a positive thing that the Summers of our discontent can finally be laid to rest. After all the damage Larry Summers has caused in being one of the architects of this crisis, from boxing in Brooksley Born and ignoring her warnings with regard to derivatives which brought down Long Term Capital Management during the Clinton administration, to his sexism among everything else. He has now thankfully taken himself out consideration for the job.

It’s a good thing he did. Rather than fighting for something or someone that helps people suffering from this economic crisis, President Obama strongly recommended and fought for Larry Summers to be Chairman of the Federal Reserve, a guy who lost a billion dollars as President of Harvard betting on interest rates. Yeah, let that sink in for awhile.

It’s really not OK. This is why making excuses for everything the President does, as too many Democrats do without thinking of the damage, is dangerous, immoral, and unprincipled. Now it looks like the front runner to replace Ben Bernanke as Chairman of the Federal Reserve is going to be Vice Chairwoman of the Board of Governors of the Federal Reserve System and once President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, Janet Yellin. Unlike Larry Summers, she at least saw the crisis coming as early as 2005.

Here we go again. The feral children of the House of Representatives, better known as Republicans with a few Democrats added for interest, have decided that they will not raise the debt ceiling  unless the Affordable Care Act (aka Obamacare) is defunded. They realized that just attaching the amendment to the stop gap funding bill to prevent the partial shutdown of the government on October 1 would never pass muster in the Senate. So they decided to go one better:

GOP leaders telegraphed that they would likely concede to the Senate’s demand for a stopgap spending bill shorn of the Obamacare provision but that they would carry on with the fight on legislation to increase the government’s borrowing cap.

“There should be no conversation about shutting the government down,” House Speaker John Boehner, R-Ohio, said. “That’s not the goal here.”

The debt-limit measure, required to allow the government to pay all of its bills on time, would be brought to the House floor as early as next week and would allow the Treasury to borrow freely for one year.

Republicans vow to load that bill with a GOP wish list, including another assault on the health care bill and a provision to force the construction of the Keystone XL pipeline from Canada to Texas Gulf Coast refineries, a project that environmentalists oppose and that the Obama administration so far has refused to approve. Other elements will reflect different Republican budget priorities, including as-yet-undisclosed savings from health care and government benefit programs and steps to speed work on an overhaul of the tax code.

If this sounds familiar,it should. We’ve been down this road in 2011 with the great debate ending in narrowly avoided default and led to the first ever downgrade of America’s credit rating.

At New Economic Perspectives, Joe Firestone, pointed out in his article President Barack Obama has stated that he would not negotiate on raising the debt ceiling but that he was willing to negotiate with the Republicans on the budget on matters including entitlements. He also highlights an exchange that took place on MSNBC’s “NOW with Alex Wagner,” including Alex Wagner, David Corn, Sam Stein and Ezra Klein:

  Sam Stein: . . . you can see the contours of a deal that would upset both parties but palatable. something like in exchange for changes to social security payments, cpi, chained cpi. you could get a reprieve from sequestration. something like that along the lines where both parties are like, well, we don’t really want to do it, but for the sake of making sure we pay our bills – that’s why the republicans keep going there. they know obama care defunding isn’t going to happen, but there are other hostages.

   Alex: why does president obama come to the table at all?

   Ezra: i think that’s the kind of deal they would come to the table on. they would consider that a deal over sequestration. i’m not sure if they would do that exact deal, but the two deals they won’t do are the ones the republicans want. they don’t want that sequestration deal. they want an obama care deal or a debt ceiling deal. they won’t come to the table on those. . .

So, Sam Stein thinks the zombie “chained CPI” lives again, and Ezra agrees, but also thinks that the Republicans will not agree to that unless they get the deals they want. So, once again, the right wing, through their intransigence, may save us from President Obama’s continuing insistence that seniors must suffer now, and future seniors must suffer as well, for the sake of an illusory long-term debt/insolvency problem that doesn’t really exist, and that he can dispel at any moment by minting a $60 T coin.

Meanwhile, the four Versailles “progressives” on this panel laugh at the stupidity of the Republicans who are marching to the doom of their party, while refusing to call attention to the fact that this “funding” crisis, and the previous ones since 2010 were and are all kabuki, since the President could and still can dispel the illusion of possible insolvency any time he chooses to use the power Congress has given him to mint that coin.

So pull up a chair for the latest installment of “The Congressional Game of Chicken.” I’m betting on Curtain 2 with another filibuster threat to make it a really fun and interesting game.

If you're stuck working minimum wage jobs like I am, you know what everyone else who earns the lowest pay allowed by law knows: You can't live on minimum wage, certainly not on the part-time hours employers give.

That's why it's heartening to see fast food workers across the nation going on strike to demand better pay.  I pull in $8.30 an hour at around twenty hours a week.  I can't afford even the cheapest of apartments on that.  As a single white male with no dependents, I am ineligible for most public assistance, including welfare, housing assistance, and medical assistance (Medicaid).  I get a pittance in food stamps every month, but it's not enough to keep me fed on a regular basis.  I'm lucky if I can eat once a day.

My entire paycheck is spent paying bills before I even get it deposited to my bank account, which is typically at or near empty.  That is the reality for me and for everyone else who works a minimum wage job.

Some stupid motherfucker was posting on a friend's Facebook page yesterday about how unfair it would be if fast food workers got an increase in wages to earn the same amount as he does in his construction job, because he doesn't expect that an increase in the minimum wage would necessarily bring an increase in his own pay.  According to him, we minimum wage monkeys don't do any real labor, and therefore don't deserve to make anywhere near the same amount of money as someone whose job involves backbreaking physical labor.  This same stupid asshole thinks that we can get higher paying jobs if we wanted to, and that we don't want to.  Bullshit.  If I could get a job working construction, I'd be working it right now.  I've applied for those jobs and they haven't even granted so much as one interview.  Most require that I have my own transportation, which I can't afford because I don't make enough to afford my own vehicle.  Those that don't haven't deigned to give me an interview either.

I can tell you right now that this ignoramus wouldn't last even one full shift working at McDonald's.  He couldn't keep up with the fast pace, and he certainly couldn't deal with impatient, often angry customers, standing on his feet for eight hours or more.  I've done that and it's exhausting.  My back is still screwed up from nearly three years of bending over a work table marinating, trussing, and spitting chicken carcasses for roasting, and I left that job in 2005 — eight years ago.  These days I grind lenses for an eyewear company for barely above my state's minimum wage.  I have to clock out for lunch if I work over six hours, costing me a half hour's pay, because the corporation for which I work doesn't want to pay me for a shift that's long enough to necessitate taking a few minutes to restore my energy levels.

News articles about the fast food strike state that the demand for fifteen dollars per hour would raise pay for full-time workers to thirty-one thousand annually, more than double the current annual average of fifteen thousand.  Some, however, quote workers pointing out that most minimum wage jobs don't provide full time hours.  They allow twenty or under, meaning someone like me might make $7,500 a year or less, and very often it's a lot less.

In an article on NBC Washington, it's revealed that financial woes actually have a negative impact on a person's IQ.  That is, the sheer stress of not being able to afford even the basics, like adequate food and drink, is literally making people dumber.  Starvation wages lead to actual starvation, so the body can't get the nutrients it needs to maintain a healthy brain.  Financial worries force people to devote more of their mental power to worrying over how they'll afford to live, leaving much less time and energy for other matters.

Who the hell can live on the current minimum wage?  No one, not without public assistance, which is already slashed to the bone with Republicans and Democrats cutting the social safety net even further.  Many of us are either homeless or soon shall be (myself included).  No one is out there advocating for us.  No one is doing a damned thing to lighten our financial burden.  The vast majority of our tax dollars (yes, we poor folk do pay taxes) go to fund wars and Wall Street, with things like education, housing, food, and Social Security getting less and less.  Yet we're told by ignorant assholes to “suck it up”, stop asking for “handouts”, to pull ourselves up by the bootstraps and make do or die.  If we could do that on what we get paid, we would.  But we can't, and even though we work and pay taxes (unlike the obscenely rich), we aren't allowed to have a say in how our tax dollars are spent.

So what's to be done?  Well, I don't know about you, but I for one have no intention of crossing any picket lines, and neither should you.  Don't let striking fast food workers do this all by themselves.  Support them in whatever way you can.  Join them, in fact.  If you know in your heart that everyone has the right to work “a useful and remunerative job” that pays enough to live on, then join them in solidarity and demand an increase in the minimum wage to fifteen dollars an hour.  Call and write members of Congress in both houses, call and write the White House, march on Washington in the millions and shut the place down, join striking workers on the picket line, donate whatever money and food you can afford to help people who are starving.

This country and this planet are going to hell in a hand basket, but only if We the people let them.  Don't let them.

In an interview with economist Richard Wolff, Bill Moyers discusses discuss the fight for economic justice, including a fair minimum wage and how to tame capitalism run wild.

“We have this disparity getting wider and wider between those for whom capitalism continues to deliver the goods by all means, [and] a growing majority in this society facing harder and harder times,” Wolff tells Bill. “And that’s what provokes some of us to say it’s a systemic problem.”

As we have documented here at Stars Hollow, the task force that was created to pursue mortgage fraud and hold the banks accountable was, and is, a sham game to protect the banks from real relief for defrauded homeowners.

Your mortgage documents are fake!

by David Dayen, Salon

Prepare to be outraged. Newly obtained filings from this Florida woman’s lawsuit uncover a horrifying scheme

A newly unsealed lawsuit, which banks settled in 2012 for $1 billion, actually offers a different reason, providing a key answer to one of the persistent riddles of the financial crisis and its aftermath. The lawsuit states that banks resorted to fake documents because they could not legally establish true ownership of the loans when trying to foreclose.

This reality, which banks did not contest but instead settled out of court, means that tens of millions of mortgages in America still lack a legitimate chain of ownership, with implications far into the future. And if Congress, supported by the Obama Administration, goes back to the same housing finance system, with the same corrupt private entities who broke the nation’s private property system back in business packaging mortgages, then shame on all of us. [..]

Most of official Washington, including President Obama, wants to wind down mortgage giants Fannie Mae and Freddie Mac, and return to a system where private lenders create securitization trusts, packaging pools of loans and selling them to investors. Government would provide a limited guarantee to investors against catastrophic losses, but the private banks would make the securities, to generate more capital for home loans and expand homeownership.

That’s despite the evidence we now have that, the last time banks tried this, they ignored the law, failed to convey the mortgages and notes to the trusts, and ripped off investors trying to cover their tracks, to say nothing of how they violated the due process rights of homeowners and stole their homes with fake documents.

The very same banks that created this criminal enterprise and legal quagmire would be in control again. Why should we view this in any way as a sound public policy, instead of a ticking time bomb that could once again throw the private property system, a bulwark of capitalism and indeed civilization itself, into utter disarray? As Lynn Szymoniak puts it, “The President’s calling for private equity to return. Why would we return to this?”

White-collar fraud expert proves ‘mortgage-backed securities’ neither mortgage-backed nor secure

by Scott Kaufmann, The Raw Story

The forged documents were endorsed by employees of companies long bankrupt, executives who signed their name eight different ways, or “people” named “Bogus Assignee for Intervening Assignments” so that the banks could establish standing to foreclose in courts. The end result, according to white-collar fraud expert Lynn Szymoniak, is that over $1.4 trillion in mortgage-backed securities are still, to this day, based on fraudulent mortgage assignments.

The lawsuit against Wells Fargo, Bank of America, JPMorgan Chase, Citi and GMAC/Ally Bank was settled in early 2012 for $1 billion, but now that the evidence is unsealed, Szymoniak and her legal team are free to pursue the other named defendants, including HSBC, the Bank of New York Mellon, and US Bank. “I’m really glad I was part of collecting this money for the government, and I’m looking forward to going through discovery and collecting the rest of it,” Szymoniak told Salon.

Eric Holder Owes the American People an Apology

Jonathan Weil, Bloomberg News

The Justice Department made a long-overdue disclosure late Friday: Last year when U.S. Attorney General Eric Holder boasted about the successes that a high-profile task force racked up pursuing mortgage fraud, the numbers he trumpeted were grossly overstated. [..]

In an updated press release Friday, which corrected its initial release of last October, the Justice Department said a review of the cases found that the inflated figures included defendants who had been sentenced or convicted in fiscal year 2012 — not just people who had been criminally charged, as originally reported. Its original, lofty tally also included cases in which the victims weren’t distressed homeowners. [..]

What a charade. No wonder the government found it so difficult to bring a meaningful number of accounting-fraud cases against bank executives after the financial crisis. Its own books were cooked. [..]

This was the second time, mind you, that Holder’s Justice Department had pulled a stunt like this. In December 2010, Holder held a press conference to tout a supposed sweep by the president’s Financial Fraud Enforcement Task Force called “Operation Broken Trust.” (The mortgage-fraud program was part of the same task force.) As with the mortgage-fraud initiative, Broken Trust wasn’t actually a sweep. All the Justice Department did was lump together a bunch of small-fry, penny-ante fraud cases that had nothing to do with one another. Then it held a press gathering.

Between this sham that protects the banks and the egregious violations of the press and privacy of all Americans with abusive use of FISA, Eric Holder owes us more than an apology, he owes us his resignation as Attorney General.

Don’t let the enthusiasm of the stock market or some financial reports that the job market and unemployment are improving or that the economy is growing faster. It’s not. None of today’s economics news is good. As a matter of facr, it’s rather depressing.

Better Than Expected Second Quarter Growth? Is the Post Kidding

by Dean Baker, Center for Economic Policy and Research

I somehow missed this Post article touting the 1.7 percent growth rate reported for the second quarter as better than expected. First it is incredible that the piece would leave readers with the impression that this strong growth, [..]

The economy’s rate of potential growth is generally estimated as being between 2.2-2.5 percent. This means that rather than making up some of the 6 percentage point gap between potential output and actual output, the gap increased in the second quarter. [..]

The GDP data released on Wednesday also included revisions to prior quarters’ data. The revision to the prior three quarters’ growth rate (Table 1A) were sharply downward lowering growth over this period by 1.3 percentage points or an average of 0.4 percent per quarter. With the revised data, growth over the last year has been just 1.4 percent. This is supposed to be a justification for withdrawing stimulus?

July Jobs Report Masks Real Problems In U.S. Labor Market

by Mark Gongloff, The Huffington Post

Fed Chairman Ben Bernanke has said the official U.S. unemployment rate could mask the real problems in the labor market. He got proof of that in July’s jobs report.

The unemployment rate dipped to 7.4 percent in July, the lowest rate since December 2008, the Bureau of Labor Statistics reported on Friday, down from 7.6 percent in June.

But payroll growth was anemic, wages dropped and more discouraged workers headed for the sidelines, continuing the slowest job-market recovery since World War II. [..]

Employers added just 162,000 jobs to non-farm payrolls in July, the Bureau of Labor Statistics reported on Friday, down from 188,000 in June, which was revised lower from an initial reading of 195,000. Together, revisions to May and June figures subtracted 26,000 jobs from payrolls, another sign of weakness. [..]

The unemployment rate, meanwhile, fell in part because 37,000 workers dropped out of the labor force, meaning they gave up looking for work. The labor-force participation rate, which measures the percentage of working-age Americans who are working or looking for work, fell to 63.4 percent in July, near a 35-year low.

The civilian employment-population ratio, which measures how many working-age Americans actually have jobs, was flat at 58.7 percent, near the lowest in 30 years and down from more than 63 percent before the recession. [..]

The majority of the jobs that have been created during the recovery have been low-paying jobs, worsening income inequality and keeping the economy sluggish.

The job market is a long way from recovery and with the slow rate of job creation there could be a deficit of 4.6 million jobs in May 2016. Not only that but the quality of the jobs that have been created are not conducive to economic stimulus:

More than half of the jobs added last month were either in retail trade or “food services and drinking places.” People employed in those sectors tend to have much shorter work weeks and much lower hourly wages than everyone else.

Even worse, a recent paper (pdf) by Canadian researchers suggests that many of the people taking these jobs are relatively over-educated. The authors argue that, since 2000, globalization and technological advancement have reduced the demand for “high-skilled” workers. Desperate for employment, these workers ended up pushing the “lower-skilled” out of the job market entirely. This may help explain why the share of people aged 25 to 54 counted as being in the labor force has plunged by 3.5 percentage points since 2000.

The quality of jobs being created is probably connected to the depressing performance of incomes and the decline in the work week. Hourly pay has grown by just 1.9 percent over the past 12 months — basically unchanged since the end of 2009. The data from the BEA tell a similar story. Real after-tax incomes fell in June. Americans still have less purchasing power than they did in November 2012. Our standard of living has barely improved over the past year.

None of this is good news. The other question is what will the Federal Reserve do? Chairmen Benjamin Bernanke has promised to keep its target interest rate near zero at least until unemployment is below 6.5 percent.

The Fed’s chairman, Ben S. Bernanke, said in June that the Fed wanted to end its current round of bond buying around the time the rate hits 7 percent, which he predicted would happen by the middle of next year. That prediction is looking conservative, suggesting the Fed could start tapering when its policy-making committee meets in September.

But Fed officials have cautioned that they want unemployment to fall because people are finding jobs, not because they’re leaving the labor force. And by broader measures, the job market remains weak. Growth is sluggish – just a 1.4 percent annualized pace in the first half of the year – and the share of American adults with jobs has actually fallen since the recession ended.

So the decision is unlikely to be clear-cut, particularly because Fed officials are divided about the benefits and the costs of the bond-buying campaign.

And the decision is not going to be made this week. Officials will see six more weeks of economic data, including one more jobs report.

I’m not all that well versed in economics but it seems fairly clear that there needs to be a huge influx of investment into the economy. Since it doesn’t appear to be coming from the private sector, which is more concerned about profits than quality job creation, then it need to start coming from the government. The likelihood of that happening any time soon is still rather grim.

In a recent survey from the Associated Press, it was revealed the 80% of Americans will face near poverty and unemployment at some point in their lives.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend. [..]

As nonwhites approach a numerical majority in the U.S., one question is how public programs to lift the disadvantaged should be best focused – on the affirmative action that historically has tried to eliminate the racial barriers seen as the major impediment to economic equality, or simply on improving socioeconomic status for all, regardless of race.

Hardship is particularly growing among whites, based on several measures. Pessimism among that racial group about their families’ economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63 percent of whites called the economy “poor.”

The host of MSNBC’s Now, Alex Wagner discussed the growing jobs, the middle class and bridging the gap in income inequality with Maya Wiley, Founder and President, Center for Social Inclusion; Jacob Weisberg, Chairman, Slate; and Jennifer Senior, Contributing Editor, NY Magazine.

At FDL News Desk, DSWright noted President Barack Obama’s admission in a New York Times interview that “he was worried that years of widening income inequality and the lingering effects of the financial crisis had frayed the country’s social fabric and undermined Americans’ belief in opportunity.” He sums up that the president is finally facing the facts:

Hope has its limits, eventually people want the eloquence of rhetoric to be matched by the eloquence of action.

But there is little incentive to help the lower classes of American society. The Bush and Obama Administrations bent over backwards to bail out the rich during the financial crisis the rich caused and they’ve done a heck of a job. According to the Federal Reserve, while most Americans saw their wealth go down by 40% during the Wall Street crash and resulting Great Recession, the rich actually got richer.

So now the 99% are getting wise to the fact that the game has been rigged against them and that continuing on this course will only lead to poverty and stagnation – a realization that is scaring elites. People may be done hoping for change, they finally be understanding that power concedes nothing without demand.

In Part 6 of a series of interviews by Paul Jay of Real News Network, journalist and author, Chris Hedges discusses issues of corporate control, and “the grim realities” facing the economy and environment:

The more we create self-sustainable systems that are local, the more we sever ourselves from these corporate forces, the less we need them. And the less we need them-I mean, let’s remember that 70 percent of the U.S. economy is driven through consumption-the less we need them, the more we impoverish them. I mean, the goal has to be to break these corporate power, this entity that has seized control of our government, our systems of communication, our judiciary.

I mean, now we’re watching them eviscerate our systems of education. Anytime hedge fund managers walk into a city like Baltimore and propose charter schools, it’s not because they want to teach people to read and write. It’s because they know the federal government spends about $600 billion a year on education, and they want it, and they’re getting it.

So I think that building local centers that are self-sustaining and that can create forms of community that are not dependent on these corporate forces is a political act, because these corporate forces need us to continue to consume their products and rely on their services. And the less we consume and the less we are hostage, the less we need these forces, the more independent we become.

Now, that has to come with a kind of political consciousness, but I think they come hand-in-hand, that both things-I think that as people take control, once again, of their own lives, that will bring a kind of consciousness, because these corporate forces, especially if they begin to feel threatened, are going to see these acts as political acts and are going to move-as we have seen corporate farming move against organic farming, they are going to move to try and destroy these forces.