The Best Alternative News on the Web

I've followed the so-called "alternative" news media for some time now. In recent years, as the global economic crisis has grown in severity and the "War on Terror" has morphed into "the Arab Spring", this segment of the news media has really exploded in popularity. Unfortunately, a lot of alternative news sites are presenting information that is often poorly-sourced, exaggerated, based on pure speculation, useless, or otherwise less-than-credible. However, there are a few genuine sources of un-compromised, independently produced, serious news that far exceeds in quality anything published by the corporate, mainstream media.

ALTERNATIVE FINANCIAL NEWS

ZeroHedge -- The best financial news on the internet. The unvarnished, inconvenient truth. Frequent topics of discussion include: the European sovereign debt crisis, the US's trade and budget deficits, the development of the Chinese economy, major geopolitical events, and the US employment situation (among many, many others). Updated continuously throughout the day. Published anonymously. The articles here usually require some prerequisite knowledge of finance and economics. A great place to get an insider look at the global financial markets and  learn how the global economy really works.

Max Keiser -- The best financial commentary & opinion on the net. Max Keiser pioneered the technology behind virtual equity exchanges like the Hollywood Stock Exchange. Today he is a financial activist and broadcaster who has been featured on Russia's English-language RT network, Iran's Press TV, Qatar's Al-Jazeera English, and BBC World News. Max exposes the fraudulent, broken financial markets and the financial aristocracy that has led the world into economic depression. Max is also a huge advocate of investment in precious metals.

ALTERNATIVE HEALTH NEWS

Gary Null & the Progressive Radio Network -- Gary Null is an author and talk radio host who focuses on alternative health topics. He frequently discusses alternative therapies for disease-treatment, the use of vitamins and health supplements, diet and nutrition. Many of his views are controversial and he sometimes veers into "Snake Oil Salesman" territory -- advertising supplements with wide-ranging claims of being able to cure serious ailments. Nonetheless, much of the information he presents on the relationship between diet and health is very valuable. He began the Progressive Radio Network (PRN) in order to promote other progressive thinkers through a talk radio format. Popular transmissions include Gary Null's own Gary Null Show and Progressive Commentary Hour, Michael Ruppert's Lifeboat Hour, the Bioneers, and KPFK's Sonali Kolhatkar.

ALTERNATIVE INTERNATIONAL NEWS

Land Destroyer Report -- An in-depth analysis of modern imperialism and resource geopolitics. Exposes the reality of US-sponsored "color revolutions" and the subversion of democracy in the Third World / Global South. Particular focus on the Middle East, South Asia, Southeast Asia, and Latin America. Argues for self-sufficiency as a political and economic strategy.

Global Research: The Center for Research on Globalization -- A Canadian-based site that consistently puts forth analysis and opinion on global current events from a progressive, anti-globalization, anti-imperialist, anti-war point-of-view. Published by Michel Chossudovsky, an economics professor from the University of Ottawa. Publishes articles from a variety of contributors.

ALTERNATIVE U.S. NEWS

Infowars / Prison Planet -- Alex Jones publishes these enormously popular twin news sites. Their content usually overlaps. Frequent topics include global geopolitics, holistic and "alternative" health, surveillance and the police state, economic collapse, the Second Amendment and gun rights, and strategic relocation. The epicenter of the Patriot Movement. Alex is very close to Ron Paul and the Liberty Movement.

Chris Hedges on Truthdig -- Arguably, the heart and soul of progressivism in the United States today. One of the few genuine, un-compromised progressives left in the Obama era. Mr. Hedges has proven himself unafraid to challenge the Democratic Party and President Obama over their hypocritical continuation of the "War on Terror", their support of the PATRIOT Act and state surveillance, and their total sell-out to the forces of Wall Street. His column and books are must-reads for any self-identified progressive or leftist.

What is the "Global Minimum Tax"?

Recently, while at a campaign stop in Iowa, Vice President Joe Biden called for a "Global Minimum Tax." Here's what he said:

"For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%. We want to create (what's called) a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home."

Many people were shocked. Was Biden suggesting that the U.S. would try to implement some form of taxation on a supranational basis?

 Such a suggestion would not necessarily be new in the U.S. political sphere. In 2009, New York Times columnist Paul Krugman wrote in support of a "Tobin tax," which would levy a tax on all conversions of one currency into another. In late 2011, Bill Gates also announced his support for a "Tobin tax."

The "Tobin tax" is named after economist James Tobin. James Tobin argued for his tax idea in a 1978 article in the Eastern Economic Journal titled "A Proposal for International Monetary Reform." In it, he voices support for globally implementing "a common currency, common monetary and fiscal policy, and economic integration" but acknowledges that this is not politically viable. Instead, he suggests the tax on currency exchange which would "be an internationally agreed uniform tax" where the "tax proceeds could appropriately be paid into the IMF or World Bank."

So indeed there has been a serious proposal for a global taxation authority in U.S. politics in the recent past. It's no secret that Paul Krugman's policy writings are a major influence over the Obama administration.

Alas, I don't believe this is what Vice President Biden was referring to. Biden was referring to Gene Sperling's proposal to tax the foreign profits of U.S. based companies and corporations. Gene Sperling is the Director of the National Economic Council. Lawrence Summers held the post before him. Mr. Sperling worked in the Clinton Administration, was on the staff of the Council on Foreign Relations, worked for Goldman Sachs and is a close associate of Timothy Geithner.

Sperling's proposal is astounding. Let's deconstruct the proposal by analyzing Biden's words.

"For years, American manufacturers have faced one of the highest tax rates in the world."

Biden presents this as a wrong that the Obama administration is out to correct. He completely overlooks the fact that the Democratic party played a major role in raising that tax rate to the uncompetitive level it is now at.

"We want to create (what's called) a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home."

This is a completely Orwellian way of speaking about the tax proposal. Essentially, Biden is admitting that high tax rates in the U.S. have forced manufacturers to go abroad in order to stay competitive in international markets. American taxpayers are not subsidizing foreign investment. Manufacturers have been pushed into foreign investment by a greedy U.S. government that can't control its spending.

Biden never touches upon the risks of this proposal. He ignores the possibility that, instead of bringing manufacturing jobs back to the U.S., companies may simply officially relocate themselves to foreign countries in order to thereby avoid the U.S. tax structure almost entirely. Such a development would be a tremendous blow to the U.S. economy during a fragile period.

In both of the above cases, the "Tobin tax" and Gene Sperling's "Global Minimum Tax," the goal is to limit competition between different economic systems and instead corral everyone into a unitary, uniform financial structure. The "Tobin tax" would make it more expensive to convert your U.S. dollars into a foreign currency. And any such transaction would be subject to regulation by supranational entities like the International Monetary Fund and World Bank, which are not responsible to any electorate. The "Global Minimum Tax" negates any benefit one might attain by doing business abroad. It is a financial "fence" meant to keep you and your money within the confines of the U.S. tax structure, even if there are far better economic opportunities abroad. This will likely end up greatly limiting U.S. investors and pricing them out of key international markets.

Introduction

I intend to write about three main topics: (1) economics, the ongoing global financial crisis, markets, and global economic change; (2) civil liberties and democracy; (3) geopolitics and global conflicts.

You know, lighthearted stuff like that.

I may touch upon a few other topics as well.

I'm a historian, so that's the prism I'm usually looking at events through.

I have strong opinions but I don't have allegiance to any particular political label or political party or politician(s).