The Criminality of the Elites (tags)
The offenses of the upper classes are hardly publicized. People wait in vain for strong interventions in the economic realm. Financial criminality harms the state, the community and economic growth (e.g. high-frequency trading, shadow banking, financial products)
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"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.
The Financial Crisis and the Failure of the Modern Economy (tags)
The US government debt shot up from 2.9% in 2007 to 5.9% in 2008 and 11.9% in 2009. At the summits of Washington, London and Pittsburg, the goat was made the gardener. Ineffective rules were resolved that hardly helped regulate the financial markets.
The IMF Dictates More Than Ever (tags)
"Many developing countries that were independent in food production at the start of the 1980s import food necessary for their populations today. The subsidized agriculture of western countries has flooded the cou9ntries of the South. Haiti imports the rice that it once cultivated.."
The Banking and Financial Crisis (tags)
"The transition from a long-term to a short-term orientation went along with the exaggerated profit goals. The approach of shareholder value sets maximum profits and dividends in the center of business policy and no longer long-term investments and the interests of employees.."
Financial Crisis as Organized Irresponsibility (tags)
In the years 2002-2006, guaranteeing mortgage credits was the greatest source of profit for investment banks. US policy massively promoted and in no way curbed awarding dubious credits. In 2003 Warren Buffett described derivatives as "financial weapons of mass destruction."
FREEMASONRY TAKES THE WORST IN BRAZIL (tags)
A delicious news.
Capitalism is the Problem: System Error (tags)
The chaos that we now witness is only the latest crisis of the global economic system. The system has not succeeded in keeping profits at the level of the postwar years. What is good for one capitalist is not necessarily good for the system. Triple-digit billions have been pumped into system
The Crisis of Speculative Capitalism (tags)
The bubble bursts when debtors cannot pay and a bankruptcy crisis develops at the end.. The illusion of the stock exchange as a roulette with guaranteed permanent profits burst with the New Economy bubble..Only the worldwide regulation of the financial markets can avert their collapse.
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.
The Return of the State (tags)
The state is welcome again in this plight. The brazenness with which those who caused the crisis now demand state subsidies to bailout the financial system is just as breathtaking as the state readiness to fulfill this demand.
Economic Crisis and the Crisis of Neoliberal Ideology (tags)
The crisis has his origins in the "real" economy. Inequality is the ideological motor of neoliberfalism. German president Kohler described the financial markets as a monster. The metaphor has changed from market as rational subject to monster.
Austria: Crash Instead of Cash (tags)
In 1978 the Bretton Woods system broke down since the US abandoned the key function of the US dollar to print money to finance the Vietnam War.. The liberalization of the financial markets started a mechanism in which the worldwide population loses.
Overstrained Capitalism (tags)
Neoliberalism has driven the world into the greatest disaster since Hitler and Stalin. With Ronald Reagan, a president entered the White House who constantly proclaimed the state in the end was something bad.
The Philosophies of Deregulation and Neoliberalism are Dead in the West (tags)
"The patient suffers massive internal bleeding and is given a blood transfusion. The banks lent money and accepted inflated assets as security. This bubble burst..Those who pocketed profits for years want to pin the losses on the taxpayers."
The problem is that a large part of US real estate financing, the "subprime" market for real estate credits to poor borrowers, functioned according to the model of a chain letter. Radical redistribution, nationally and internationally, is the command of the hour.
Bankruptcies Prohibited (tags)
Capitalism is a system based on debts and credit. To function, it needs trust, trust that banks will always meet their obligations. Fannie and Freddie could not do this any more. Alan Greenspan promoted market forces after extremely overrating them.
The problem is that a large part of US real estate financing, the so-called subprime market for real estate credits to poor borrowers, functioned according to the model of a chain letter. Radical redistribution, nationally and internationally, is the command of the hour.
Crisis Populism and Rose-Colored Glasses (tags)
When it concerns socializing the losses of the financial disaster, the head of Deutsche Bank no longer believes in the "self-healing power of the market." The bankruptcy of neoliberalism is blatant.
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.
The Asian Crisis of 1997-1998: Deregulation (tags)
Enormous capital streamed in short-term monetary investments that could dissolve at any time, not in lasting direct investments. Higher stock prices and home prices fueled the credit boom. Deregulated finance markets are everything but efficient.
Global Casino Capitalism (tags)
What began with cheap money for American homebuyers has expanded to the greatest financial market crisis since the war. The whole extent of bad credits with banks is not yet known, let alone the effects on the world economy.
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.
The Crisis of Speculative Capitalism (tags)
Since the end of July 2007, the world economy was shocked by a new severe crisis of the financial markets. The courage to regulate the financial markets to prevent a future uncoupling from the productive economy is still obviously absent. The hour of truth will inevitably come.
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.
Vatican seeks to become carbon neutral (tags)
TISZAKESZI, Hungary: This summer the cardinals at the Vatican accepted an unusual donation from a Hungarian start-up called Klimafa: The company said it would plant trees to restore an ancient forest on a denuded island by the Tizsa River to offset the Vatican's carbon emissions.
Billions Dissolve in Thin Air (tags)
While the political class practices faith healing, all the participants know the end is coming when more speculative bubbles burst. The popular dogma that financial markets and the world economy are more efficient when deregulated and liberalized is over.
The World Bank's Customers Are Disappearing (tags)
Many developing countries that gained needed credits only on World Bank conditions are poorer today than before. The Good News is that the cartel of creditors is dissolving. Former debtors threaten to become independent.
The South is Bled White (tags)
Since the Asian crisis and the 1980s, we have had massive net capital flows from the South to the North. The South is systematically bled white under the present conditions of the world economy.
Trouble Erupts In California Pollution Trading Market (tags)
News Analysis: Trouble Erupts In California Pollution Credit Market Just As President Proposes “Clear Skies” Market For Power Plants