Senile Economics: Bubble Ontology and the Pull of Gravity (tags)
The entire banking system is closing in on folding, which is why it so desperately needs new inflationary liquidity to keep afloat. The Great Reset is our owners’ authoritarian attempt to respond to this systemic threat by taking control of the collateral (our lives).
Pause for Thought: Money without Value in a Rapidly Disintegrating World (tags)
The tanking economy is the cause of these “misfortunes”. What we are sold as external threats is in fact the ideological projection of the internal limit of capitalist modernity. In systemic terms, emergency addiction keeps the comatose body of capitalism artificially alive
Is China in danger of collapse? and Anti-economics and anti-politics (tags)
In the process of modernization, the relationship between market and state can be boiled down to the formula of a general law: the more market, the more state... The bloated market and the bloated state can only live or die together.
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.
Planned Crises or Alan Greenspan's "Tsunami" (tags)
Greenspan knew his policy would create a financial bubble that ultimately had to burst. The subsequent crisis was consciously accepted since it speeded up the process of creative destruction. Lessons from the 2008 financial meltdown include shrinking the financial sector and expanding the public sector.
Financial Market Inflammation (tags)
Bubble formation covered up a period of long-lasting stagnation... Former US Treasury secretary Larry Summers even spoke of stagnation as a "new normality"... The crisis consequences are shifted to other subjects. Unemployment and indebtedness are exported.
Janet Yellen Likely New Fed Chairwoman: Hold the Cheers (tags)
class war
From Financial Crisis to Stagnation: An Interview with Thomas Palley (tags)
"The way economies are organized and function is significantly the product of social choices, not the product of nature. Over the past thirty years we (society) have embraced a set of economic ideas..."
Politics in the Crisis Trap (tags)
A discontinuance of debt-financed economic programs leads to an economic slack period resulting in stagnation and recession. Crisis policy finds itself in a philosophical paradox. The political class can only choose between more indebtedness up to state bankruptcy (with hyper-inflation) or harsh austerity programs.
Zombie Housing, Zombie Banks, Zombie Governments: Economy Cassandra Says Marx was Right (tags)
"Karl Marx had it right. At some point capitalism can destroy itself because you cannot keep on shifting income from labor to capital without not having excess capacity and a lack of aggregate demand, and that's what's happening." --Nouriel Roubini
Self-Abandonment of the System (tags)
The banks are seemingly on Victory Street and taxpayers face bankruptcy. Bailing out banks by printing money is a dubious recovery. Paulson, Bernanke, Summers and Geithner are the architects of a policy of easy money. The money given to banks does not reach the economy.
"Crises belong to capitalism as the cyclone belongs to the weather.. A social division went along with the neoliberal turn. The welfare state mutated to a repressive crisis management of a growing mass poverty..Greenspan's dollar glut kindled a global deficit economy.."
Obama's Cap and Trade Carbon Emissions Bill - A Stealth Scheme to License Pollution and Fr (tags)
plunder and pollution if passed
The Misery of Economic Policy (tags)
The military Keynesianism since Reagan guided the streams of surplus global money-capital into the US as a "safe harbor." The orgies of deregulation and privatization cleared the way for the "assets inflation" of the financial bubble economy.
"Down the Memory Hole," Alan Greenspan Style (tags)
Greenspan-caused housing bubble
Dow Jones will hit 3,900 pts: end of stocks bubble (tags)
Dow Jones Industrial Average (DJIA) will fall below 4,000 pts by the end of 2009.
Sean Baker on Finance Capitalism (tags)
Education and health care are the new gold. Without massive investments in education and health care, dour country will be under-developed and under-achieving.
From Real Estate Speculation to Collapse of Global Deficit Economy (tags)
Joy to the world, the world of fallen idols and bubble transfer. The truth will set us free but the truth is a process, not a cudgel or stimulus. After the dot-com bubble, trillions were "invested" in real estate speculation. The crisis of the work society is the background for low interests.
Welcome to Finance Market Capitalism (tags)
The financial market escapades must be the problem because capitalism itself cannot be the problem. The state bailout measure prepares the ground for inflationary developments.
The deepening economic crisis.
The Age of Austerity Dawns (tags)
The burst bubble of the New Economy should have been understood as a warning. Then as today, wishful thinking and greed blocked the view to reality. Recessions offer a period of welcome recovery. Losing the hectic turbo-capitalism is not really a great loss.
The Grand Illusion-Mega-Bubble World Economy (tags)
Self-righteousness is really the grand illusion. The global North consumes the resources of the global South. We are literally devouring the future. Given resource scarcity and climate change, the world economy as a whole is a bubble economy, a monstrous bet on an impossible future.
Meltdown and Bailout: Why Our Economic System Is on the Verge of Collapse (tags)
Today's highly speculative economy pushes capital into developing countries and into bubble after speculative bubble in search of a better profit margin.
The Financialization of Capital and the Crisis (tags)
The stock market- and real estate-bubble occur in advanced capitalism. The government response was to create a second bubble, the great bubble transfer. The real estate bubble crashed last summer. John Bellamy Foster teaches at the University of Oregon and is editor of Monthly Review.
Falling real interests, a weak dollar and an increasing demand from China led to a bubble on the market. In the long term, this bubble will burst.
Financial Meltdown A "Gigantic Fraud"! (tags)
Leading Economic Writer: Financial Meltdown A "Gigantic Fraud" - Says Americans "duped" by "serpent-tongued" elite!
Deregulation had built the church and seed money was needed to grow the flock. We're all Keynesians on the way down. Bubbles are to the industries that host them what clear-cutting is to forest management. The housing bubble has left us in dire shape.
Oh, That Trillion Dollar Financial Bubble, It’s Leaking! (tags)
It’s here! Author Charles R. Morris calls it: “The greatest credit bubble in history!” He insists that the “writedowns and defaults” of credit devices will “come out about $1 trillion.” Problem: President George W. Bush, Jr. is in denial about the crisis. Like that amiable dunce, President Ronald Reagan, he contributed to this horrible mess by turning the country over to the Vulture Capitalists and also by launching the Iraq War with its price tag of $3 trillion!
Mardi Gras: Sexual Terrorism at State College (tags)
The history of Mardi Gras in the U.S. and around the world is marred with violence and sexual assault. This week in New Orleans at least nine people were wounded by gunshots at and near the festivities. In San Jose, CA in 2006 there were multiple stabbing incidents. In the 2001 Seattle Mardi Gras riots women were sexually assaulted, intimidated, coerced and raped, much of which was caught on tape. This week at Cal State Long Beach, we just couldn't ignore it's influence.
A Generalized Meltdown of Financial Institutions (tags)
By Mike Whitney 11/24/07 "ICH" -- - Reality has finally caught up to the stock market. The American consumer is underwater, the banks are buried in dept, and the housing market is in terminal distress. The Dow is now below its 200-Day Moving Average -- the first big "sell" signal. Anything below 12,500 could trigger program-trading and crash the market. The increased volatility suggests that we are watching a "real time" meltdown.
Imperial wars and genocide, Petrodollar Recycling System and meltdown of financial world (tags)
Imperial wars, crimes and genocide, Petrodollar Recycling System and meltdown of financial world order. Articles, analysis and video documentary
The Real Financial Tsunami is coming! (tags)
"The $690 billion worth of “interest only” ARMs due for interest rate hike between now and July 2008 are by and large not Sub-prime but a little higher quality, but only just. There are a total of $1.4 trillion in “interest only” ARMs according to the US research firm, First American Loan Performance. A recent study calculates that, as these ARMs face staggering higher interest costs in the next 9 months, more than $325 billion of the loans will default leaving 1 million property owners in technical mortgage default. But if banks are unable to reclaim the homes as assets to offset the non-performing mortgages, the US banking system and a chunk of the global banking system faces a financial gridlock that will make events to date truly “peanuts” by comparison. "
Greenspan's Dark Legacy Unmasked (tags)
Alan Greenspan's true record of public disservice.
Questions to the Maestro Alan Greenspan (tags)
Listen to Thom Hartmann interview Alan Greenspan on Air America Monday Sept 24. Greenspan was responsible tor the credit problems that now shake the world finance markets. Did the maestro drastically lower interest rates to help the Bush administration?
The Bubble as the Work of Criminals (tags)
A conscious and organized deceit, a criminal fraud, is perpetrated on investors when speculators create marketable securities out of bad mortgages on an overheated real estatemarket.
A "Slow Motion Train Wreck" (tags)
Financial market turmoil and the Federal Reserve increases it
Americans in the Bubble (tags)
What if we, the American citizenry, are the ones living in a bubble. isolated, clueless, without a clear fit in the world's puzzle?
CUCKOO ECONOMICS (Abridged Ed.) (tags)
By deliberately confusing assets that can be *produced* with assets that can only be *acquired*, modern economics laid the ideological foundation for unemployment, poverty, inequality, and the looming global depression.
Cal Housing Bubble May Burst Soon (tags)
The basic rule of thumb that if you cannot afford to itemize deductions on your income tax form, you cannot afford a house is as true today as ever. A house is just forced savings and if you do not need the tax write-off, you are better off renting. The World Socialist Website has a good analysis of the pending bubble burst of the California housing market, which means now is a good time to sell if your house is not a tax writeoff.
Ground Zero - (Californians Lead The Way Off The Cliff) (tags)
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