Self-fulfilling Prophecy (tags)
The orchestrators of this global coup must be credited with a certain sadistic brilliance. Their sleight of hand succeeded, perhaps even beyond expectations. However, any power aiming at totalization is destined to fail, and this applies also to the high priests of the Covid religion and the institutional puppets they have mobilized to roll out the psyop.
Memorandum 2022 and Memorandum 2023 (tags)
The Bremen study group on Alternative Economic Policy has been publishing analyses since 1975. Sustainable infrastructure Investments, de-carbonization, environmental safeguards, work protections and welfare regulations are primary as well as resisting profit maximization and environmental destruction.
Russia's victory in an economic war (tags)
If perspectives for ways out of the increasingly worsening crises of capitalist socialization are to emerge, it is indispensable to look at the whole of conditions and their complex entanglements. It is necessary to break with the myths and life lies of the 'free West' as well as with those of a mission for a Russian empire or any other autocratic fundamentalism.
The inflation debate and The inflation conundrum (tags)
If inflation is the result of a distributional conflict, it can be deliberately stopped by governments. Governments could skim off the higher profits through a tax in order to subsidize energy costs for consumers. Governments could also raise taxes (on the rich).
War in Ukraine. Nato taboos fall (tags)
This military-scientific glorification of a war that has long been hopeless for both sides, which is also supported by some media, leads to the postulation of the prospect of victory against one's better judgment. What is meant, however, is more likely a victorious peace.
Who can afford capitalism anymore? and Why are prices rising? (tags)
When the state now debates the need to create relief packages for employees, pensioners, unemployment benefit recipients, trainees and families, this is official confirmation that the result of wage labor is also poverty. The majority of citizens find themselves in a dual role...
Raising interest rates to fight inflation is a crazy idea (tags)
A wrong analysis of the causes of inflation leads to wrong countermeasures. Wage restraint means a loss of purchasing power and does not change the increased energy prices. Higher interest rates will make loans more expensive, lead to less investment, eg renewable energies.
Spiral downward and No exit! (tags)
The austerity dictates imposed on the Eurozone are only exacerbating the crisis they are supposed to be fighting. The austerity measures are leading to a collapse in domestic demand.
Guidance to the system change, Parts 1 and 2 (tags)
World War II led to U.S. domination of the political West, which was able to make its mark on the part of the world it more or less controlled. Led and dominated by the military-industrial complex, any efforts of autonomous state developments that contradicted its interests were suppressed.
Making yourself comfortable in capitalism (tags)
"Whoever has a wife should behave as if he had none, ... whoever buys as if he were not the owner, whoever makes use of the world as if he did not use it" (1 Cor 7:29f). Paul is speaking here to people who were "called" as slaves into the messianic church (1 Cor 7:21).
95 Theses Against the Rule of the Financial Markets (tags)
The financial markets have made themselves independent of the real economy. As the selling of indulgences led to Martin Luther's 95 Theses in 1517, the rule of speculative financial markets has led to revenue shortfalls of US cities and states. Tax havens hide between $22-33 trillion.
Democracy = not more than a brand name (tags)
The USA, a hegemonic power threatened with decline, is struggling to maintain and expand a monopolistic world order. This is supposed to be justified by surrounding itself with an aura of freedom and democracy.
There are successful examples of non-violent, civil resistance in history. This spares human lives and, when things go well, achieves its goals at least as well as acts of war could. Ukrainian pacifists are trying to show a way out of the spiral of escalation.
Can an offer from the West bring peace to Ukraine? (tags)
Ukraine is being crushed The consequences of war are dead, injured, displaced, destroyed lives, social communities torn apart, broken infrastructures and homes, misery and years of revenge. Yet no one stops this terrible war. It is unbearable to watch.
Toward a new economic policy paradigm (tags)
Over the years, the institutionally enshrined budget discipline has created a considerable investment backlog. Important investments in infrastructure, education and climate protection have not taken place.
Economic Crisis in the Anthropocene (tags)
They are in a life-and-death struggle for the future of American democracy and from their point of view – and I happen to share this view – that depends on their not losing the congressional majority to the GOP in 2022, which doesn’t necessarily end American democracy, but it takes us in a direction which is really bad.
Open Letter: Write off debt, win the future! (tags)
We are fortunate to have a creditor that does not have to fear losing its money: the ECB (European Central Bank). Our proposal is therefore very simple: let us conclude an agreement between the European states and the ECB. The ECB writes off the debt it holds (or converts it into perpetual interest-free debt).
The state must cushion the economic impact (tags)
Heiner Flassbeck expects a slump of the German GDP of 20-30%, Neither Trump nor Merkel said a word about stabilizing the economy. You can't just shut down the economy and then hope nothing happens. Companies, banks and people must be supported. Money must go to those now becoming unemployed..
The Job Guarantee in the Corona Pandemic (tags)
If the tax system is not reformed in an equitable manner, this will probably mean 10 to 20 years of cutbacks, starving basic services such as education, health, and care, as was the case in many European countries after the 2008 financial crisis.
The Forgotten History of the Financial Crisis (tags)
In the United States between late 2008 and early 2009, 800,000 people were losing their jobs every month. By 2015, over nine million American families would lose their homes to foreclosure—the largest forced population movement in the United States since the Dust Bowl.
Is Capitalism Out of Order? (tags)
Growing debt is actually not a big problem in a growing economy as long as it does not grow faster than the gross domestic product (GDP). The debt mountain of the capitalist world system is growing much faster than the world economic output.
Chaos.Thbe New Age of Revolutions (tags)
The End of the Megamachine brings to light the roots of the destructive forces threatening the future of humankind today. Dismantling Western progress mythologies, Scheidler shows how the logics of endless capital accumulation have devastated both human societies & ecosystems
Good Housing for All and Rent Madness (tags)
Apartment rents have increased faster thant he incomes of wage earners. Real estate decays to an object of speculation. Capital seeks lucrative investments. Hectic activity and bustle replaces inactivity and idleness since the protests of renters cannot be ignored any more.
What is a Crisis? A Retrospect on the 2008 Economic and Financial Crisis (tags)
The economic guild interprets crisis through an ideological lens. The financial crisis is redefined as a state debt crisis. Illuminating the systemic causes of crisis or discussing the crisis proclivity of the capitalist system is not possible anymore.
Public Good or Private Wealth (tags)
The deep and growing chasm between the rich and the poor is not an accident. This gulf is the result of political decisions. Many rich countries have lowered or abolished property taxes. Governments reduce spending on education and health care.
Ten Years After the Financial Crash (tags)
US economic statistics are dubious since financial markets are based on financial products and money out of nothing. Tax havens, micro-second betting, stock buybacks and corruption through lobbying are market-distorting and cause revenue shortfalls.
Markets as a Fetish, Globalization, and Dissent Management (tags)
Economic inequality must be reduced and democratic participation regained. Resisting tax avoidance, financial market regulations, climate policy, and globally combating poverty should be priorities.
The World Dependent on Central Banks (tags)
The situation seems extremely contradictory. The global economic and financial system has been clinically dead since 2008. It only functions because it is artificially kept alive by the central banks like a patient in the intensive care unit $!8 trillion was pumped into the global system.
Prohibiting Micro-Second Betting on the Exchanges (tags)
The financial sector that has gone off course should serve the real economy again in the future. The exchange functions like a gigantic casino. Throwing some sand int he gears with a transactions tax would slow down the speculation.
Crisis 2.0: A Policy for the 99% (tags)
The capital surpluses are a constant source of new speculative waves and maneuvers. The crisis of state finances is mainly a crisis of tax refusal. The elites shifted the tax burden from businesses and high incomes to consumer taxes and fees.
The Driving Force of Global Inequality (tags)
Behind closed doors, a powerful industry has developed worldwide since the 1980s: tax avoidance. Taxes that are avoided must be compensated by higher taxation of households with lower incomes.
How the World Heads for the Next Crash (tags)
Governments secure the money of the rich. State debts have grown in nearly all countries of the world since 2010. Ten years after the outbreak of the financial crisis, the economy is again in a standstill or mired in crisis. Trump wants to cancel the recent bank regulations and cut corp taxes.
Memorandum 2017: Alternatives for a Solidarity Europe: Instead of "Germany First" (tags)
The European Union is at a crossroads. The reason lies in the neoliberal redistribution policy favoring capital incomes over many years. "Mass unemployment intensified and was not ended in Europe. Millions of those with work are in precarious working conditions."
After the economic crisis in 2008, the neoliberal fairytale of austerity was given a new boost. The neoliberal ideology reflects the idea the dismantling of the welfare state is urgently needed. Austerity means that all state expenditures are reduced to a minimum...
Causes of Great Problems Faded Out in Elections (tags)
Elections today have one thing in common: they don't change anything. Pseudo-battles dominate in which the actors are intensely focused on evading the burning questions and diverting the electorate from the real causes of problems..
We Must Choose: Capitalism or Democracy (tags)
Middle-class democracy only knows formal political equality. Rule over public opinion grows out of the dominance of capital. The alternative is authoritarian capitalism or solidarity democracy. Resistance is the command of the hour.
Basta Ya, Brussels! British Voters Reject EU Corporte Slavestate (tags)
“The EU is an instrument of the ruling classes of Europe for the imposition of brutal austerity measures—most directly on the workers of Greece, of Spain, Portugal and Ireland, but also on workers in the UK, France and Germany….Prime minister, Cameron, has even proclaimed an “Age of Austerity” as his government imposes cuts of £210 billion, (€263 billion), equivalent to over 10 percent of Britain’s GDP, at the cost of the destruction of 20 percent of all public sector jobs, millions more in the private sector and the decimation of vital services.
The Financial Crisis in the Light of the Social Market Economy (tags)
In 2007 and 2008 the US housing market almost completely collapsed. The crisis was brought about by a combination of state- and market failures. Extensive deregulation and violation of the liability principle were jointly responsible.
How Much State Does the Social Market Economy Need? (tags)
The use of property is only legitimate within the limits of the public interest. Whoever takes a risk must bear it and be liable for the losses. The state has the political task of laying down effective rules for risk assessment, liability and providing transparency. Distributive battles intensify.
65 Economists Call for QE for People in the Eurozone (tags)
The campaign for Quantitative Easing for People is currently supported by 21 organizations and aims to redirect money created through the QE program to the real economy by either financing public investment spending in the eurozone or by distributing a citizens' dividend to all residents
"Who is saving Whom?" shows what remains hidden. A tremendous redistribution from the bottom to the top.. Rescuing is taking place, for the 99% however there is no sign of a rescue.
Casino Capitalism and Profit Maximization (tags)
In the 1960s the average holding time for stocks was 10 years. Now the holding time is not 9 months but 22 seconds. Like shareholder value, profit maximization leads to exploding inequality and the waste of resources. States are weakened by tax cuts.
For 40 years, the Bremen study group has published memorandums. The council of experts promoted the profits of businesses, not aggregate economic demand. Mass unemployment surpassed the 5 million mark because of neoliberal structural reforms.
Time for a New Detente Policy (tags)
The past subordination under the US policy oriented to regime change and chaos in the Middle East must be ended. A diplomatic offensive to end the war in Syria on the path of negotiation with Russia is necessary. Since March 1999, NATO was expanded with a dozen countries.
State Indebtedness: The Beloved Enemy (tags)
"The slow one now will later be fast as the present now will later be fast." The state unlike the Swabian housewife can become indebted to invest in a more social and more human future. All personal and corporate profit depends on state investment in roads, schools, food safety etc.
Can Keynes Rescue Europe from the Euro Crisis? (tags)
Keynes' theories and concepts were pushed back with the rise of neoliberalism in the 1980s. A complete change of course occurred when state spending cuts, lower wages and devaluations failed. The state spent money to create demand for products and services.
Greece and Troika Agree on Bailout Deal in Principle (tags)
Greece
Statement of Solidarity With the People and Government of Greece (tags)
The following statement is issued by various progressive individuals and organizations from many parts of the world, but mostly in Asia-Pacific. A copy of the statement has already been sent to Syriza's international department.
Greek Voters Reject Financing Plan (tags)
Article on recent election in Greece, concerning its debt.
Greece Declares Bank Holiday, Capital Controls Imposed (tags)
Greece
Troika Intends Starving Greece Into Submission (tags)
Greece
At G7 Summit Trade and Debt Policies Take Center Stage; Bishops Call on G7 to Enact Global (tags)
G7, Jubilee USA Network, Debt
Greece Proposes Plans to Tackle Tax Evasion and Corruption (tags)
Greece submitted a list of economic reforms to the European Union (EU) in an effort to secure emergency financing.
Hypocritical and Hippocratic Economic Policy in Europe (tags)
The crisis is multilayered-a bank crisis, a crisis of wealth distribution and a misallocation of capital between long-term real investments and virtual financial investments.. The frugal Schwabian housewife is not a suitable model.
TTIP: Redistribution of Power, not Free Trade (tags)
The TTIP (Transatlantic Trade and Investment Partnership agreement) involves the redistribution of power away from the parliaments and to the executive and its unelected lobbyists. The TTIP does not involve freedom of trade.
Rebirth of the One-Thousandth Society (tags)
The richest thousandth (0.1%) could increase their share in the total wealth very intensely since the 1980s. Their share is as much as the bottom 90%..While the millionaires increased their wealth enormously, the mass of the population is exposed to the continuing economic crisis.
Public Funds Brought Smart Phones (tags)
All personal achievement would have been impossible without state investment in roads, schools, hospitals, airwaves, health and food safety. The state share is completely faded out in the conventional story about business history.
How Economists Change the World (tags)
Theory development is also a war over dominance. The goals of Hayek's war were expulsion of the Keynesians, liberalization of the financial markets, abandonment of full employment policy, dismantling the social state and weakening unions.
Victory of the Economy over Democracy and the Constitutional State (tags)
The person exists as an end-in-him/herself and not merely as a means... On the other hand, the principle of the worldwide market economy is based on treating persons and their needs as means to the end of profit realization.
The European Commission suspended the secret TTIP negotiations for four months to get citizen consultation on the Investor-State-Dispute SettlementThis proposed parallel system with 3-person courts of arbitration allows corporations to sue for lost profits. Decisions are irrevocable.
Eliminating currency speculation would be simple. The big central banks, the American Fed, the Bank of England, the European Central Bank and the Japanese Central Bank...$5.3 trillion whirl through the world daily seeking lucrative currency bets.
Both Germany and the US follow an economic policy without enlightenment. Slight economic stimulation will not solve problems of mass unemployment and corporate welfare. Tax evasion of corporations and tax cuts for the super-rich lead to suffering and a revenue crisis.
The Middle Class Continues Shriveling (tags)
A century ago people said a progressive income tax would never happen. Today it is reality. The top tax rate in the US between 1930 and 1982 was 82 %. That was a very interesting experiment because very high incomes were covered.
Mainstream Economics: Monocultures at the University (tags)
The "Plural Economics Network" challenges breaking through the monoculture and intellectual one-sidedness in economics...Instead of viewing our varied social problems from different perspectives, all the answers are derived from very similar models.
Casino Capitalism and Profit Maximization (tags)
“The state is consciously weakened to speed up the redistribution from bottom to top because that corresponds to the dogmas of the neoliberal ideology.” Our state was systematically weakened in the last 15 years by extensive tax cuts. I remember the lowering of the top income tax rate.
The Tiger and His Trainers (tags)
How preposterous to think we can avert the next crisis without regulating or shriveling the financial sector, addressing income inequality and radically rethinking the meaning and assumptions of economics? Hans-Jurgen Urban likens the financial crisis to a tiger breaking from his cage and sees the welfare state and unions as trainers
This economy kills!: Pope Francis (tags)
The Cold War in internal church policy may be coming to an end. A religion without mysticism is merely a philosophy. Mysticism is a specifically modern form of faith. God's presence is no longer self-evident or plausible to the entire world. Francis' church is a hospital under the open air.
Book Review: "The Victory of Capital" (tags)
A society can only provide for the future by investing today in the production of tomorrow...What may be sensible economically for a private individual or individual business could be harmful for the national economy, particularly when the economy staggers.
Ukraine Dodged a Bullet (tags)
Ukraine
Studying Economics Today is Like Brainwashing (tags)
The blind trust in efficient markets must be replaced and bankers given a new understanding. Profit making is different than profit maximization. Banks should be a public function, not a casino and the real economy and the environment not abandoned.
Politics Serving Free Financial Markets Creates False Incentives (tags)
Stable exchange rates, a strict regulation of (financial-) capital transactions, a transactions tax and low interest rates should make financial speculation so unattractive (“euthanasia of the profiteer”) that real investments would quickly expand to maintain full employment.
Alternatives to Stagnation and Depression (tags)
Politics has fought the symptoms of the great crisis with banking- and economic packages while its systemic causes remain untouched… The hardest phase of the great crisis is ahead of us, not behind us. All sectors try to safeguard their position through spending cuts...
Addicted to Liquidity Injections (tags)
Bernanke's announcing of lower monthly printing of money was enough to make stock exchanges collapse in many threshold countries. The monetary policy of printing money and zero interest is caught in a vicious circle. Liquidity glut generates credit growth.
They want capitalism without democracy; we want democracy without capitalism (tags)
The policy of crises and impoverishment disrupts our lives and the lives of millions of people in the world. More than 300 persons were gravely injured through blows, tear gas and pepper spray. Blockupy had an important political success.
The Ideological Mantra "Competitiveness" (tags)
The policy that Merkel and Co. forced on the crisis countries has led to social catastrophes...The competition ideology has managed to establish the notion that generalized competition is the real human condition.
Labor Solidarity in Neoliberal Structural Change (tags)
The self-regulating market and the invisible hand were neoliberal theories of Frederick August von Hayek and Milton Friedman. Submission to the market was described as a natural law, as natural and self-evident as the rotation of the planets. Solidarity and unions were decried as barriers.
"This is a Cold Putsch Against the Constitution" (tags)
Sahra Wagenknecht, co-vice president of DIE LINKE (The Left Party) in Germany, is the author of many books and articles on economic justice, the financial transactions tax and creative socialism.
"Politics prepared the ground for financial war" (tags)
The current economic crisis is a product of political mistakes, economic incompetence and criminal energy. Capitalism altogether has been a declaration of war. Politics bungled deregulation. The wisdom of the market never existed.
The exodus from the casino capitalism producing ever faster and ever deeper crises cannot succeed without a broad and powerful democratic base. Parliamentary democracy is urged to finally take up the struggle around the primacy of politics
Neoliberalism as a Variety of Social Darwinism: Ten Million More Unemployed (tags)
Social cuts are a danger for democracy..When fear of social descent or collapse seizes the middle class, the danger grows that exclusion-ideologies may gain acceptance like racism, nationalism or social Darwinism..The economic future is given away on the altar of an ideology that raises location competition to the leitmotif of political-economic policy.
The BRIC - States: World Economy on a Silk Thread (tags)
In 2013 for the first time since the beginning of European industrialization, the production volumes of the threshold- and developing countries will surpass the volumes of the triad. Sinking real investments is true for all `developed' countries.
class war
Cancellation of Illegitmate Debts Instead of Bailout Umbrellas for Financiers (tags)
The inflation of public indebtedness was an essential element for the enhanced power of financial capital. That inflation was a result of a conscious under-financing of the state and is a lever to enforce an austerity policy. Financialization intensified the pressure to precariousness.
To Krugman, the increasing ideological blindness of German politicians can only be explained by their belief that "hard times must be the necessary punishment for earlier excesses." Krugman overlooks that the hard times and excesses do not concern the same people.
There are no national solutions for Greece, or any other country (tags)
In what can be interpreted as a dry run for other countries, financiers intend to reduce Greece to a vassal state that has no control over its finances, with its tax revenues used to pay banks instead of for government functions.
Is Capitalism Collapsing? (tags)
One of the causes for the obvious helplessness of the governments is that they function as simple receivers of orders of the financial industry. The financial industry has no interest in a policy that would make it liable for its inflicted disaster..
European Bank Socialism (tags)
The motto "Too big to fail" frees the financial sector from all chains. In the future, the banks will not have to assume any liability for taking irrational risks. Instead they can commit fraud without limit-in a system that already leads us to the brink and creates millions of unemployed.
Another Road for Europe (tags)
Europe is in crisis because it has been hijacked by neoliberalism and finance. Along the road to another Europe, visions of change, protest and alternatives have to be woven into a common framework. Finance should be prevented from destroying the economy.
The state became indebted to bailout the banks. Now the state pays them ever higher interests. The state should guarantee the deposits of small savers, not the debts of banks to other banks or hedge funds. The financial sector must be shriveled, the sector that uncoupled.
Democracy in Crisis: The Terror of the Economy is a Danger to Democracy (tags)
There is a powerful crisis dynamic that is stronger than the will of the sovereign and its democratic institutions. When capital relations fall into crisis, everything can be instrumentalized: the basic law, democracy, human rights and human life. Economic pressure creates extremism of middle.
For a European Anti-Crisis Front (tags)
Lowering the public debt burden is not an end-in-itself. Debts could serve to stimulate the economy and improve the living conditions of the victims of the crisis. Debt reduction must occur mainly by increasing the tax revenues (higher tax rates and combating tax evasion), not only by cuts.
You can vote as bankers dictate, but is that democracy? (tags)
Officials of the European Central Bank and the European Union apparatus quickly served notice that the pressure is not off by demanding the formation of a government to their liking.
Economic Policy, the Schwabian Housewife and Francois Hollande (tags)
"What is rational for individuals leads collectively into a cul-de-sac.. The fundamental error is that economic policy believes the crisis can be fought with the logic of a family budget. For that reason, the collapse of the euro zone threatens." France goes a different way than Italy and Spain.
"A seeming consensus among economists can virtually force the shaping of political opinions.. For 30 years, neoliberalism marginalized all other schools, above all Keynesianism - and all of us hit a brick wall.."
In the Towrope of the Financial Markets (tags)
"High growth has a well-known hook. Surpluses are only possible when natural resources from clear water to rare earth are available, when the energy supply is guaranteed and when the pollutant sinks are sufficient.. The debtors are now those states that had to become indebted.."
Debt Tribunal and Green Socialism (tags)
Qualitative growth, breaking out of the box of quantitative growth, is the key to solving mass unemployment, environmental destruction and trade imbalance. A job in education costs 1/10 what a job in a chemical dye plant costs. The media is part of a system that refuses change.
The Banks Should Serve the Real Economy (tags)
Democracy, risk and liability are turned upside down when trillions bailout the banks and workers, unemployed and pensioners must pay the bill! We live from those who say No to trivialization of crisis, to the state being reduced to a trough or errand boy for the banks (Bill Moyers). The economy should be a part of life, not a steamroller crushing creativity.
Choice Not on Ballot in French Election (tags)
France
Democracy instead of Fiscal Pact (tags)
Against the authoritarian-neoliberal EU, we champion a democratic and social-ecological Europe of the many!
class war
class war
They created the crisis and they offers now as the saviors. 2012 can not bring anything good having put wolves caring the hen house.
Medrciless Samaritans and 10 Causes of the Crisis (tags)
"There is no society. There are only individual men and women," said Margaret Thatcher. Margaret Thatcher, the former British Prime Minister, had a great share in the crisis in which Europe, capitalism and democracy find themselves.
To give a credit to a customer, a bank doesn't need to take the savings of another cutomer from its vaults. It creates the money out of nothing. In a countermove, the bank must deposit money with the central bank. There is a debate whether the creation of money can be left to the banks.
BTL:Greeks Resist Harsh Austerity Measures Imposed by Eurozone as Condition for New $172 B (tags)
Interview with Costas Panayotakis, author and associate professor of sociology at New York City College of Technology, conducted by Scott Harris
How Goldman Sachs Rules the World (tags)
Hank Paulsen had famous examples: Robert Rubin, Treasury secretary under Bill Clinton, also changed from Goldman Sachs into politics. Europe and the US are firmly in the grip of Goldman Sachs.
Deepening Greek Tragedy (tags)
class war
Financial Oligarch Power Raping Greece (tags)
class war
On Protest and the "Occupy"-Movement (tags)
National economies are now subject to the pressures of this supra-national financial "market" and to the institutions helpful to this market like the IMF and the European Central Bank. "Bailout umbrellas" at the expense of the common taxpayer are opened up.
The core of all western-individualist ideas of justice is the principle of personal responsibility. Everyone is responsible for the consequences of his/her actions. This motivates as well as disciplines. "We punish the virtuous and reward the squanderers."
So much crisis was never analyzed with a crisis-conditioned satisfaction guarantee! Instead of seeking culprits, we must seek the systemic causes of the indebtedness dynamic. These gigantic debt mountains were necessary to keep capitalism functioning. Fewer and fewer workers can producer more and more goods in an ever-shorter time.
class war
Banker Occupation and Europain (tags)
class war
Alternative for the Euro Zone (tags)
In a new study, leftist economists from a dozen EU countries criticize the policy of the German government in the Euro crisis. Its analysis and the proposed solutions are wrong. The state deficits are not the cause of the crisis. The financial crisis caused the state deficits.
Bailouts, Bondage and Political Bankruptcy (tags)
class war
Central Bank Intervention: Much Ado About Nothing (tags)
class war
At Risk Eurozone Sovereign Credit Ratings (tags)
Eurozone
Spreading Eurozone Contagion (tags)
class war
Occupy America for Change (tags)
class war
Dissing Europe's Flawed Bailout Scheme (tags)
class war
class war
Occupy World - The Protest Against the Financial System Intensifies (tags)
Since the beginning of the financial crisis, governments from Berlin to Washington solemnly vowed to regulate the financial system more strongly, close the casino on the financial markets and call to account financially the speculators.for their inflicted damage. Deeds did not follow.
Troubled Eurozone Finance Capital (tags)
economy
Dominant Finance Capital Institutions (tags)
money power
Manifesto of Appalled Economists: The Shocked and the Outraged (tags)
Tax cuts for the super-rich and corporations promised economic growth and more jobs but produced exploding inequality and generalized insecurity. The US faces a revenue crisis and a war spending crisis. Tax cuts, wars and bailouts of banks and firms caused massive US deficit.
The US, the Debt Superpower (tags)
The state bailout of these gigantic real estate institutes, banks and insurances and the enormous economic package to get the crisis-weakened economy on its feet again is one of the essential causes of the present debt crisis. In two decades, $5.5 trillion was spent on a dozen wars.
Debts and a New Beginning (tags)
Problems don't disappear when they are ignored. Through deregulation, the law of profit maximization and government failure, the financial sector was expanded and made independent of the real economy. 14 million jobs could be created through the Internet.
Banker Occupation of Greece (tags)
financial terrorism
IMF Financial Terrorism (tags)
financial terrorism
The Shift of Power to the East and South (tags)
The shift of political and economic power from West to East and North to South and the rapid development of technological innovations have created a completely new reality..The claim of the US and Europe to being masters of the universe must be ended.
Manifesto of French Economists: Why We Are Shocked (tags)
On October 11 three million French workers were on strike against President Sarkozy's authoritarian attacks on social security and pensions. "Despite its obvious debacle, the neoliberal dogma is still regarded as the only correct economic system."
The Neoliberal Experiment and Europe's anti-Austerity Strikes (tags)
"The neoliberals are fully in control of the bureaucracy, and they are reviving Margaret Thatcher's slogan, TINA: There Is No Alternative. But there is, of course. In the small Baltic economies, pro-labor parties have made it clear that the alternative to government shrinkage is to simply repeal the debts, withdraw from the Euro and break the banks. It is either the banks or labor - and Europe has just realized that this is truly a fight to the economic death. And the first test will come this Saturday, when Latvia holds its national parliamentary elections."
Emergency Brake for Speculators (tags)
The private indebtedness brought about by unscrupulous financial managers mainly in the US was almost completely transferred to state budgets.
The Bank Tribunal in Berlin (tags)
Even today most radical market liberals do not see beyond their ideological blinders and explain the financial market crisis as a state breakdown. The financial catastrophe is a fiasco of their religious doctrine. The catastrophe plunged the dominant economy into a crisis of meaning.
The Next Crash is Brewing (tags)
The economic way of thinking enforced for a quarter of century is one of the structural factors that helped this "economy of depression" breakthrough. This dominant doctrine denies the role of demand and concentrates on the problems limiting the supply of goods & services
World Bankers Agree: The Recession is Over...Maybe (tags)
Few would consider the opinions of the world's central bankers to be unbiased or even accurate. These self-proclaimed wise men of international finance didn't see the recession coming until it blew up in their faces - a blast that destroyed their credibility. Nevertheless, it is interesting to hear them talk, not because they're fun to listen to, but because of "the messaging" that rich investors use religiously in placing their stock market bets, while the rest of us are given a calming sermon, so that the bankers' lackeys - the politicians - may continue ruining the country uncontested.
Investments of the state in the infrastructure, in educational- and social services, are urgently necessary. One positive aspect of the crisis is that the financial sector has begun to shrivel. The shriveling of the financial sector must be accompanied and controlled by the state.
Risk Development and Dollar Inflation (tags)
Two articles by emeritus professor Elmar Altvater reveal the contradictions of credit or bubble prosperity in the counter-revolution of capital. As work cannot define us, competitiveness and profit maximization do not define the human experience Speculation could bring a new feudalism..
Attac Catalogue for Democratizing the Financial Markets (tags)
The financial industry contributed over $5 billion in the last year in campaign gifts and lobbying to ensure that Wall Street oligarchs have their way in the media and congress. Attac is a global justice network committed to shriveling the financial markets.
The New Feasibility and the G20 (tags)
These fictional articles point to a future after the world turned upside down by financial speculation. They were published in a fictional issue of "DIE ZEIT," the famous Hamburg weekly.
Disarm the Markets! New Attac Basis Text (tags)
The therapy depends on the diagnosis. Mechanisms, instruments and actors can be identified whose action and teamwork led to the crash. The age of a unipolar world was very short. An historical chance is opening against finance capitalism.
As the revered godlike head of the Federal Reserve, Greenspan pursued a policy of cheap money. Whenever the financial markets began to correct their own madness, he opened the floodgates for more money..The world stares so intensely at growth that it forgets distribution.
Monetary Policy and Stagflation (tags)
50 countries already show double-digit rates; 42% of the world population is affected. Monetary policy reacts helplessly to stagflation. The financial bubble economy is an excess. When consumers finally spend the money they don't have, everything will be just fine.
Full Speed Against the Brick Wall (tags)
Massive capital has streamed into the raw material sector and crude oil. When we leave the market to speculators, panic rules. The economy falls into a double crisis-out of scarce raw materials and energy and falling profit rates and mass demand.
The Time is Ripe: Democratic Controls of the Financial Markets! (tags)
Like the melting of the dollar, the energy, food and housing crises have systemic roots, the logic and dynamic of maximum profit.. The US is experiencing a "margin call." The world wants its money back. The economy and the financial markets should serve people, not vice versa.
Deregulated Markets and Alternative Economics (tags)
In the last ten years there was more speculationthan ever, more than before the 1930 worldwide economic crisis. A policy of deregulated financial markets made this possible. That real investment profits turn out relatively small encourages the speculation tendency.
Potential Future Hyperinflation (tags)
Potential economic trouble ahead.
Economic troubles are broad, deep and worrisome.
The economy is not what they are saying!5 (tags)
"And another horror is that the stock market went up, which is Pretty Freaking Strange (PFS) since Barron’s reports that the earnings of the Dow Jones Industrials went down, dropping to $225.53 from $234.49. This has produced the unbelievable price-to-earnings ratio of 57! Earnings are going down, but the stocks are going up! To a P/E of 57! Un-freaking-believable!"
The greatest risks threaten through the crisis of the financial system, through further price increases for food, the sensitivity of global supply routes and the increasingly expensive sources of energy. 2008 could develop into a worldwide crisis year.
The Downhill Plunge Speeds Up (tags)
The state has a social nature and cannot only be power and security state. In crisis, we are all Keynesians. Taboo for a long time, the New Deal program slowly sounds promising again. The 1933 "Home Owners Loan Act" was created in the first 100 days of Roosevelt's presidency.
Psychology has a great influence on developments of the world econmy. In Tokyo, the G7 states agreed to avoid negative terms to not worsen the situation. Neither the extreme price drop of the dollar nor of the Yen were mentioned in the final declaration.
The Rescuers of Capitalism (tags)
Banks all over the world bought these speculative objects through subsidiaries called "special conduits" that did not appear on the official balance sheets. The mortal sins of the economy are the specualtive practices, not state interventions.
Attac Germany on the Subprime Crisis (tags)
The crisis can't be solved with a few surveillance cameras in the global casino. The party was quickily over when the real estate prices stopped soaring. Investors are often guided by a herd behavior. Sustainable economy should have a prioirity over short-term profits.
Is the "Mother of all Financial Crises" Imminent? (tags)
A trade-weighted devaluation of the dollar of around 25 percent is necessary allowing the US currency to ski "gradually and orderly" against free-floating currencies. The IMF could establish a "substitution account" with "special drawing rights" to avert a dollar panic.
US Crisis Sends Europe's Housing Market into Free Fall (tags)
Investor George Soros sees the worst economic crisis since the Second World War as the aftermath of heavy debts and the credit crunch. Speculative greed for profits and contempt for whistle-blowers led to the crisis. Will there be system correction or only cosmetics?
The Subprime Tsunami Reaches the EU (tags)
Subprime mortgage credits in the US should not have been issued. Nevertheless subprime credits were extended in the volume of $1.3 trillion. An avalanche of expropriation roars in the valley. The banking crisis spills over into the credit system in the real economy.
After the crisis of 1997, not one important fianncial reform was carried out in the world. Liberalizationof capital markets causes instability and not necessarily growth. In South Korea, the IMF recommended the sale of state banks to US investors.
European Central Bank pumps $500 bn into banking system (tags)
TO SUCCEED over the global credit crunch in aftermath of sub-prime crisis, the European Central Bank (ECB) has announced to grant a record double loan to its banks. The ECB has decided to pump 348.6 billion euros ($501.5 billion) into the banking system through its banks. Though lending to banks at 4.21% rate of interest is available only for two weeks, it is expected that the grant will boost the diminishing confidence of the bank.
Beware of Falling Bankers! (tags)
Like the car, our sacred cow that is not discussed, speculation and prosperity based on credit are taboo subjects. The system is corrupt and its answers wrong. Will we mend our own pockets as China closes its wallet? Critical thinking, culture shock, alternative economic and Jesus' parables can be new beginnings.
David Walker, comptroller general, warns of impending crisis (tags)
Learn from the fall of Rome, the US is warned. There were striking similarities between America's current situation and the factors that brought down Rome including declining moral values, an over-confident and over-extended military and fiscal irresponsibility by the central government.
HELICOPTER BEN UNLEASHES DOLLAR HYPERINFLATION (tags)
Washington DC – August 12, 2007 – By deciding to ante up $38 billion for a hopeless bailout of predatory Wall Street hedge funds and the banks that stand behind them, Federal Reserve Chairman Helicopter Ben Bernanke has placed the bankrupt US dollar on a direct course towards the precipice of hyperinflation.-
'Old Europe' Bails Out Idiot-run Free-Market US Government - Again (tags)
Right now, the entire world's banking system is being pressed to the limit of what it can do to prevent a worldwide crash of the capitalist system due to what one European banker called "a complete evaporation of liquidity" [Source: "ECB reportedly weighs dollar swap with Fed", MarketWatch.com, 13 August, 2007]. In layman's terms, that means that the world's banking system is running out of the funds needed to keep the capitalist credit system running.
The delegates at Bilderberg 2007 (tags)
These people need to be tried for crimes against the commons. And their toys taken away to enjoy a life in one of their ruined poisoned lands. Some need to be hanged.
the secret of all secrets (tags)
the secret of all secrets
Creditor instead of Citizen (tags)
Do the capital markets undermine democracy?
DIRTY SECRETS OF THE TEMPLE (tags)
HOW THE US FEDERAL RESERVE HAS ABUSED THE PUBLIC SINCE INCEPTION
DIRTY SECRETS OF THE TEMPLE (tags)
AN ACCOUNT OF HOW THE US FEDERAL RESERVE HAS ABUSED THE PUBLIC SINCE INCEPTION
Iran War for Dollar Hegemony (tags)
The run on the US currency has already begun. Preventing the IOB may help explain the extreme aggressiveness of the US toward Iran. Mending our own pockets and recalibrating energy and security policies are more sensible than the Bush doctrine.
In payback time in the culture of fear, important trade, budget and cable access bills are passed in the dead of night. The dominant elite consciusness is frozen, refuses alternatives and stylizes bankruptcy as normal business practice.
The denomination of oil sales is a pyure transaction affair.. In the present situation, the oil bourse represents a symbolic manifestation of Iran's desire to be less dependent on a US-dominated dollar-world.
From Keynesianism to Thatcherism (tags)
The analysis of whether aggregate economic problems are more on the supply- or demand side and whether they are short-term or long-term precedes all state economic policy.
.THE LONDON EXPLOSIONS, THE ROGUE NETWORK, BUSH, AND IRAN (tags)
Washington DC, July 11 – Last week’s London explosions carry the characteristic features of a state-sponsored, false flag, synthetic terror provocation by networks within the British intelligence services MI-5, MI-6, the Home Office, and the Metropolitan Police Special Branch who are favorable to a wider Anglo-American aggressive war in the Middle East, featuring especially an early pre-emptive attack on Iran, with a separate option on North Korea also included.-
APPEAL AGAINST THE PROJECT OF EUROPEAN CONSTITUTION (tags)
All member states of the European Union will soon have to agree to or reject the project of European Constitution. A European campaign has just been launched in order to contribute to develop a large movement against this project of constitution. This Sunday the French citizens are voting.
Short List of "Practical Necessities" (tags)
When interests rise, fewer and fewer investments occur in production and employ-ment, unemployment increases and the economy goes flat. This analysis of the Austrian economy could help the US battle deregulation and corporate enrichment.
The immanent planned collapse ... US Silent As Euro Screams Higher
The Crash has Already Begun (tags)
"The crash has already begun! Every crash comes inthree steps, the stock market crash, the banking industry crash and finally the real crash, the collapse of the economy, businesses, jobs and the financial system.. The coming depression is the correction.."
The Cancun Summit-WTO on the edge of abyss (tags)
WTO
The clash between Great Powers ("Old Europe" versus and the Anglo-American military axis) broadly pertains to: 1 Defense and the military-industrial complex, 2. Control over Oil and Gas Reserves, 3. Money and currency systems: clash between the Euro and the Dollar.
message to my american brother (tags)
an e-mailed message about the Dutch peace demonstration, send to an american friend
The Will to Paralysis: The Crisis of Shareholder Capitalism (tags)
Scapegoats or black sheep are used to evade the crisis of the system. Considering matters more exactly would be very appropriate. Are manifestations of corruption and tax evasion normal side-effects of a system fixated on money?
A Coalition of the Elites (tags)
The extent of this admiistration's deceiving of the public is rather spectacular. I sometimes have the feeling that I don't live in one of the oldest democracies but in the Philippines under a new Marcos. This interview is translated from the German in Der Spiegel
Wife Of European Central Bank Chief, Tells IT The Way It Is Re: Israel And The Palestinia (tags)
Man, this woman tells it the way it is. Good for her. No mealy mouth, "tsk tsk" of Israel, just the harsh truth.She shows the same courage as the Dutch who hid Jews from the Nazis.
All members of the Bilderberg Group are wanted on a material witness warrant issued on October 25, 2002, in connection with international racketeering, money laundering, theft, terrorism and other crimes.