Michael Krieger

My name is Michael Krieger, and I am the creator and editor of Liberty Blitzkrieg. I'm originally from New York City.

As far as my academic and professional background, I attended college at Duke University where I earned a double major in Economics and Spanish. After completing my studies in 2000, I took a job at Lehman Brothers where I worked with the Oil analyst in the Equity Research Department.  In 2005, I joined Sanford C. Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there, I started to branch out and write opinions on bigger picture "macro" topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community, and I traveled around providing advice to some of the largest mutual funds, pension funds and hedge funds in the world.

I loved my job, but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry, and I resigned in January 2010.  At that point, I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics. That summer, I drove cross country for six weeks and ultimately decided to leave the crowded streets of Manhattan for the open spaces of Boulder, Colorado, where I currently reside.

In the years that followed, I gradually recognized that my true passion centers upon writing on issues of significant societal importance given the extremely challenging times we live in. This realization culminated with me losing interest in financial markets and eventually launching this website in early 2012.

If you are interested in a more detailed description, replete with colorful anecdotes, of how I ended up making this bizarre professional transition, take the time to watch the video below.

https//www.youtube-nocookie.com/embed/DcqMN-FXCIE?rel=0

In Liberty,
Michael Krieger

The New York Times Admits – Despite Going to Congress, Obama is Still Defending Unlimited War Powers

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Screen Shot 2015-02-12 at 10.25.44 AMPresident Obama is going before Congress to request authorization for the limited use of military force in a battle of up to three years against the Islamic State. On the surface, this looks like a welcome recognition of Congress’s ultimate authority in matters of war and peace. But unless the resolution put forward by the White House is amended, it will have the opposite effect. Congressional support will amount to the ringing endorsement of unlimited presidential war making.

People who take the Constitution seriously, on both sides of the aisle, must not allow this to happen. They should insist on the repeal of the 2001 resolution and an explicit repudiation of the “associated forces” doctrine. Only then will the next president be required to return to Congress to gain its consent if he or she wants to continue the war past the 2018 deadline. If it fails to take a stand now, its sham debate will generate another destructive cycle of distrust that will further alienate Americans from their representatives.

– From Bruce Ackerman’s New York Times op-ed: Congress, Don’t Be Fooled; Obama Still Believes in Unlimited War

First off, I want to thank Bruce Ackerman for writing this op-ed in the New York Times yesterday. Although the Obama administration already claims unlimited war powers in practice, this claim is illegitimate, which is why he is going to Congress to solidify his ability to declare worldwide warfare against a terrorist group that is a direct result of U.S. foreign policy: ISIS.

I previously covered the shadiness with which Obama was justifying his clearly illegal and unconstitutional war against ISIS last year in the post: Obama’s ISIS War is Not Only Illegal, it Makes George W. Bush Look Like a Constitutional Scholar. Here’s an excerpt:

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U.S. Falls Again in World Press Freedom Index – Now Ranked #49 Globally

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Screen Shot 2015-02-12 at 10.45.38 AMIn the United States, 2014 was marked by judicial harassment of New York Times investigative reporter James Risen in connection with the trial of Jeffrey Sterling, a former CIA officer charged under the Espionage Act with giving him classified information. US journalists are still not protected by a federal shield law that would guarantee their right not to name their sources or reveal other confidential information about their work. Meanwhile, at least 15 journalists were arbitrarily arrested during clashes between police and demonstrators protesting against black teenager Michael Brown’s fatal shooting by a white police officer in Ferguson, Missouri.

– From Reporters Without Borders’ 2015 World Press Freedom Index

The greatest myth we Americans collectively like to tell to ourselves is that we live in the “land of the free.” We particularly pride ourselves on “freedom of the press” — enshrined in the U.S. Constitution — but how free is this press really?

According to the World Press Freedom Index, published each year by Reporters Without Borders, not that free at all. I highlighted last year’s plunge in the index in the post: U.S. Plunges to #46 in World Press Freedom Index, Below Romania and Just Above Haiti. Here’s an excerpt:

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Introducing “Physician Dispensing” – The Latest Troubling Medical Industry Scam

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Screen Shot 2015-02-10 at 11.13.33 AMOver the last two years, states nationwide have moved to crack down on so-called physician dispensing of prescription drugs, a practice largely limited to doctors who treat injured workers. But doctors and companies have responded by exploiting loopholes in those rules and adopting new strategies to stay one step ahead, recent studies suggest.

One tactic has been to create novel dosages of old drugs to get around cost controls on traditional ones, according to a report issued in January by the Workers Compensation Research Institute, a group in Cambridge, Mass. Along with the 7.5-milligram version of cyclobenzaprine, the muscle relaxant, new dosages of two older painkillers, tramadol and hydrocodone, that carry far higher prices than the standard versions, have also appeared, the study found.

– From today’s New York Times article: New Dosages of Old Drugs Are Used to Raise Their Prices

The main theme here at Liberty Blitzkrieg since inception has been that these United States, indeed much of the world, has become completely captured by a corrupt, greedy, ruthless oligarchy that has made itself entirely unaccountable, thus destroying the rule of law. In order to keep the racket going, the oligarchy relies on a minion class to support the power structure. Naturally, this minion class is generally too brainwashed, ignorant or stupid to even understand their place in the social structure, which makes them far more effective. Basically, “useful idiots.”

This class is also often given immunity from prosecution, which ensures that the worst rise to the top. Police fall into this category, which is partly why we have seen such insane criminality in recent years, ranging the gamut from extreme violence to outright theft. All of this has been happening as crime in America has been declining for decades.

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Move Over Syriza and Podemos – Revolutionary Indian Political Party Sweeps New Delhi Elections

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Screen Shot 2015-02-10 at 3.15.18 PMCritics say that Kejriwal has been acting like a political novice by releasing a slew of allegations that may not come to much. Khurshid, for once, has said that Kejriwal was “an ant taking on the might of an elephant”.

Kejriwal accepts that survival in Indian politics against established political behemoths requires “strategic planning”, acknowledging that his “timing could have been planned better”. 

While Kejriwal admits he is still learning, he believes that the truth will prevail. “Remember they may have survived for many decades in politics, but we too are formidable foes in pursuing truth,” he said.

Kejriwal objects to the fact that “power is vested in a political establishment in Delhi and in state capitals. It needs to be people-centric”. His use of street protests has earned him the respect of the middle class.

– From the November 4, 2012 Al Jazeera article: India’s ‘Assange’ crusades against corruption

More than two years ago, I published an article titled, Meet Arvind Kejriwal: “India’s Julian Assange,” which focused on the crusade for social justice of a man I had never heard of. It immediately seemed important to me as further evidence of the nascent global political awakening against corrupt politicians, large corporations and central banks. In the intervening years, we have seen the rise of Syriza in Greece, Podemos in Spain and even Bepe Grillo’s Five Star Movement in Italy. I hadn’t heard of Mr. Kejriwal again…until today.

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Picture of the Day – The Moment Janet Yellen Figured it All Out…

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Janet Yellen realizes that you can’t taper a ponzi. In Liberty, Michael Krieger Like this post? Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G Follow me on Twitter.

Video of the Day – John Oliver on Pharma Company “Marketing to Doctors”

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Screen Shot 2015-02-10 at 11.13.33 AMJohn Oliver is simply brilliant. Not only does he have an uncanny ability to mix humor with serious social issues, but his videos can be so powerful they impact public policy at the national level.

Although the reforms to civil asset forfeiture announced by Eric Holder are entirely inadequate, it seems clear that his incredible video on the issue (highlighted in the post: “Common People Do Not Carry This Much U.S. Currency…” – This is How Police Justify Stealing American Citizens’ Money) played a role in influencing the national debate.

His latest video might be his best one yet. I haven’t watched anything this good in a while.

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Crony States of America – Wall Street Firms are Trying to Hide Payoffs Made to Employees Entering Government

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“There is a lot of work ahead for the management to recover its reputation.”

– John Whitehead, Ex-Goldman Sachs Chairman, in a 2010 Wall Street Journal interview

Goldman Sachs may need to work on its image. This year, the firm beat recall-riddled General Motors along with Koch Industries and BP for the dubious distinction of worst corporate reputation, according to a new poll. Market research firm Harris Poll on Wednesday, Feb. 4, published its 16th annual ranking of the 100 most visible companies in the U.S., sorted by how positively the general public viewed them, and Goldman landed at the bottom.

– From the Bloomberg article: America’s Most Loved and Most Hated Companies

Citigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi,Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these “golden parachutes” ensure more financial insiders in policy positions and favorable treatment toward Wall Street.

– From the New Republic article: Wall Street Pays Bankers to Work in Government and It Doesn’t Want Anyone to Know

The following post covers three important and related articles demonstrating and highlighting the criminality and corruption that has come to define the U.S. economy in the post bailout years. It’s a big part of the reason why the so-called “recovery” has been so uneven, and why there is record inequality.

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A Very Slippery Slope – Yes, Your Samsung Smart TV Can Listen to Your Private Conversations

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Screen Shot 2015-02-09 at 12.00.50 PMThe biggest story in the tech world today is the revelation that Samsung’s Smart TV can and will listen to your conversations, and will share the details with a third party. Yes, you read that right. Here’s the actual language from the privacy policy itself:

“Please be aware that if your spoken words include personal or other sensitive information, that information will be among the data captured and transmitted to a third party.”

Naturally, this has freaked people out and led to multiple comparisons to 1984 and the ubiquitous Big Brother. It was framed exceptionally well by EFF activist Parker Higgins in the following tweet:

Screen Shot 2015-02-09 at 11.21.39 AM

While the privacy policy statement is disturbing in its own right, the extent of how creepy it is has to do with the fact that this information will be shared with a “third party.” This begs the question, who is this third party? Corynne McSherry, the intellectual property director at the Electronic Frontier Foundation, has some thoughts. From the Daily Beast:

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Post Crisis Scorecard – Global Debt Up $57 Trillion, 60% of American Jobs Created Are Low Level, Record Youth Living with Parents

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Screen Shot 2015-02-06 at 12.13.51 PM
This morning, my Twitter stream was filled with some of the most outlandish bullish economic victory laps from pundits I’ve ever seen. The source was the monthly employment report, which showed a larger than expected increase in employment as well as higher wages. In addition, there was a huge upward revision to employment data in November. Interestingly enough, on the same day this report was released, several important articles came across my screen that make me as concerned as ever about the true state of the economy and where we are headed.

First, CNN Money just yesterday published an article titled: Obama Jobs: More Caregivers, Servers and Temps. Here are a few excerpts:

Got a job while Obama was president? Then there’s a good chance you are working in healthcare or food service or as a temp.

Those sectors were responsible more than 60% of the jobs created since Obama took office in January 2009.

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A Very Disturbing and Powerful Post – “Get Your Loved Ones Off Facebook”

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Screen Shot 2014-07-01 at 2.41.34 PM“Oh yeah, I’ve been meaning to ask you why you’re getting off Facebook,” is the guilty and reluctant question I’m hearing a lot these days. Like we kinda know Facebook is bad, but don’t really want to know.

I’ve been a big Facebook supporter – one of the first users in my social group who championed what a great way it was to stay in touch, way back in 2006. I got my mum and brothers on it, and around 20 other people. I’ve even taught Facebook marketing in one of the UK’s biggest tech education projects, Digital Business Academy. I’m a techie and a marketer — so I can see the implications — and until now, they hadn’t worried me. I’ve been pretty dismissive towards people who hesitate with privacy concerns.

With this latest privacy change on January 30th, I’m scared.

– From Salim Varani’s blogpost: Get Your Loved Ones Off Facebook

I never heard of Salim Varani before today, but when I came across his blogpost “Get Your Loved Ones Off Facebook,” it immediately piqued my interest given my less than positive feelings toward the company. It took on an even greater degree of importance in my mind considering that I had just finished reading what appeared to be a Facebook puff piece at Fusion.net about how the company, guided by “privacy sherpa” Yul Kwon, was suddenly making user privacy a core focus. It read like a PR release. Here are a few excerpts:

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