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).
Why Karl Polanyi Still Matters (tags)
In The Great Transformation (1944), Karl Polanyi explains why the economy must be embedded in society and society must not be embedded in the economy. He describes land, labor and money as "fictitious commodities" since they cannot be multiplied and created on the market.
The new normality is characterized by fear, social distancing and increasing state control. Many fear that the current situation could become permanent and that our liberal democratic legal system could be transformed into a dictatorial system of injustice.
Is the Financial Crash 2.0 Coming? (tags)
Market ideology has been on the advance since the 1980s. Only a few voices warned of the risks and instability of the liberalized financial markets. After they profited from the generous bailout packages, the banks began to speculate against the most indebted countries.
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.
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.
Capitalism as a Religion (tags)
"Capital is the only god that the whole world knows, sees, touches, smells, tastes and excites all our senses. It is the only god that doesn't encounter any atheists" (Paul Lafargue's little known genial satire "Religion of Capital" from 1887.
Sanders Coattails: Tim Canova FL23 (tags)
Tim Canova is an economist and attorney who has done some work in the global justice movement. A Sanders progressive Democrat running for office in Florida, challenging Debora Wasserman-Schultz.
"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.
Misguided Calls for More QE (tags)
QE
The Myth of the Unexpected Crisis and Security (tags)
Many knew the rise of housing prices had to end some time or other... Four theses explain why the Fed was not active during the real estate boom: power of lobbyists, market ideology, trust in abstract academic models and inflation targeting.
Obama's MyRA Proposal: Hold the Cheers (tags)
class war
Bracing for An Eventual Day of Reckoning (tags)
markets
Ukraine Dodged a Bullet (tags)
Ukraine
Larry Summers: Wall Street's Man (tags)
Fed
America Honors Its Worst (tags)
police state
Fiscal Cliff Doublespeak Duplicity (tags)
class war
Paul Wellstone: Tenth Anniversary of His Assassination (tags)
murder
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.."
Predatory Capitalism Failed (tags)
class war
Legislating Greater Wall Street Theft (tags)
grand theft
Deepening Debt Contagion (tags)
economy
Stagnation as a Trend-Life with Satiated Markets, Stagnating Economies and Reduced Work (tags)
45 years ago JKGalbraith was shocked at the public squalor alongside private affluence. In 2008-10 trillions were given to banks and Wall St. so private losses became public losses. By relieving corporations of taxes, neoliberal supply side strategy worsens growth and employment.
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
Republicans Win Without a Shutdown (tags)
The first fight over the federal budget in 2011 is over, and the Republicans have won. For at least the past 30 years Republican ideas — that government is bad, that the private sector is always more efficient than the public sector, that wages and benefits need to be cut to make America's workers "competitive" with the rest of the world, and government spending needs to be cut even if it risks turning the current recession into a full-fledged depression — have ruled. Progressives need to understand the depth of the Republicans’ triumph in order to begin the task of reversing it.
An Expansion of Terms Used in the Coffee Party Article by RP (tags)
I apologize for the weak structure in this article. I was hoping to write something that explained some of the material in the story, but ended up going a bit afield with the information. This article attempts to be neutral and nonpartisan, or at least not shrill, and avoids too much analysis. The nature of the Great Recession is difficult to sum up in a few pages, because it's a failure of a complex system with many parts, and many related behaviors, that led to the near-collapse of capitalism.
Reagan Revisionism: Planned Centennial Commemoration Hoopla (tags)
revisionism
Who's Behind the Deficit Crisis (tags)
From the U.S. to Europe media and politicians are singing the same tune: "budget deficits must be drastically reduced -- by cutting social programs -- so that global bond investors do not threaten the economy." Not since the "war on terror" was announced has government policy been so shrouded in confusion and unanswered questions. In the same way we are not to ask how U.S. foreign policy has angered millions in the Middle East, we must remain equally silent about questioning the recent history behind the current "deficit crisis.”
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.
Ex-Fed Chairman Paul Volcker Criticizes the Federal Reserve (tags)
"Altogether the 81-year old Volcker can hardly see anything good in the development of the financial system over the last 25 years."
"Capitalism has Failed" (tags)
"The investments of businesses are ridiculously low, as low as after the Second World. The reason for this may be the immense indebtedness of private households. The only thing that blossomed in the US in the last years was Wall Street-that is now killing itself.."
THE FICTION OF FREEDOM IN AMERICA (tags)
The servants of these investors and money "managers," like corporate executives and our elected - excuse the expression -representatives, look from the side, taking a payoff, as we get economically raped. This is designed to prevent wage "inflation" (that's a raise in the minimum, or any other, wage) by keeping unemployment high,
Greenspan and the Guilt of Others (tags)
Before the committee, Greenspan immediately went on the offensive (cf. Creole trick). The irresponsible loans of banks caused the crisis, not the low interest of the Fed. The Fed failed in regulating the banks because its employees were not neutral.
Labor Leadership covering for the Democrats again They're all linked to Goldman stupid (tags)
Do they honestly expect us to believe that their campaign isn't linked to the Democratic Party candidate?
GERMANY: What Lessons Do We Learn from the Financial Crisis? (tags)
Rating agencies were paid by the firms to be rated. Ultimately rational individual conduct led to an irrational collective result. The lesson is clear. On the way of regulation or taxation, banks must be given a massive incentive to remain small.
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.
John Kenneth Galbraith: Relentless Fighter Against the Powerful (tags)
In the 1960s John Kenneth Galbraith decried the coexistence of private affluence and public squalor and denounced trickle-down economics, feeding the horse so the sparrow can live. System- and structural criticism are vital today as the myth of the self-healing market lies shattered
"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.."
"The logic of the stock corporation leads to all profits ultimately being used to raise the stock price which promotes speculation." The only way to solve mass unemployment, destruction of the environment and trade imbalance is to break out of the system and pursue qualitative growth."
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..
VIDEO: Same old sheriff on Wall St. (tags)
This realnews.com report is from June 24, 2009.
Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Plann (tags)
Their goal is a world with rulers and serfs, no middle class
Political Poisonings: A Continuing American Tradition? (tags)
I am an American seeking asylum in Europe because I have been poisoned, apparently for political reasons. It seems the US government has experience with this punishment for political opponents, but worse things may be in store for the masses.
Avoiding Bailout Questions (tags)
Systemic and structural analysis is more difficult than scapegoating. Speculative greed was at the heart of the dotcom, Asian, Mexican, Argentinian and Russian crises.
Political Poisonings: A Continuing American Tradition? (tags)
I am an American seeking asylum in Europe because I have been poisoned, apparently for political reasons. It seems the US government has experience with this punishment for political opponents, but worse things may be in store for the masses.
"Low-Wage Capitalism" Author Speaks in San Diego (tags)
Fred Goldstein, contributing editor of the Workers' World newspaper and author of the new book "Low-Wage Capitalism," spoke at the Malcolm X Library April 18 and described the current economic collapse as a classic "crisis of overproduction" in the Marxist sense. Though Wall Street greed and the bursting of the housing bubble played a part, he said, the real cause was the capitalist class's success in driving working people's wages down, not only in the U.S. but worldwide, to the point where workers can no longer afford to consume the products they produce. He called for a mass progressive movement to make explicit economic demands, especially jobs.
Government Stimulus Plans are `Not Enough': Joseph Stiglitz (tags)
Governments have to do more than just spend money, says Stiglitz.
With Our Opponent On The Ropes, It’s Time To Go On the Offensive (tags)
The pages of the capitalist press reveal the level of concern they have over the survival of their system
Barack Obama: Crime Boss (tags)
Obama's criminal partnership with Wall Street
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.
Fallen Stars: On the Greed of Bankers and a New Morality (tags)
The economic ethicist Ulrich Thielemann explains how greed, false theories and the herd instinct caused the massive financial crisis. They had the theory when we make profits that is ultimately good for everyone.
Alexander: Socialists Say Nationalize All U.S. Banks (tags)
Former Federal Reserve Chairman Alan Greenspan thinks it’s necessary to temporarily nationalize some banks. Federal Reserve Chairman Ben Bernanke in recent statements has indicated that the nationalization of some banks may be necessary under certain conditions, and many economic analysts believe nationalization is only a matter of time; however, socialists nationwide say nationalization of all U.S. banks is now necessary to achieve a national economic recovery.
Barack Obama Pirate Captain of Derivative TARP TANIC and Nuclear Iran (tags)
The more things change, the more they stay the same.
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.
Ronald Reagan: Betrayer of Main Street America! (tags)
William Kleinknecht takes the gloves off in his new book,”The Man Who Sold the World: Ronald Reagan and the Betrayal of Main Street America.” He shows that the so-called “great communicator,” was, in fact, the “great enabler of corporate greed.” The Vulture Capitalists were set loose on the people by “Reaganism.” I say: Take Reagan’s name off that airport in D.C. Let his Fat Cat cronies pay for his memorials, not the taxpayers.
Economist Dean Baker on Book TV: "Plunder and Blunder" (tags)
Dean Baker is co-director of the Center for Economic and Policy Research in Washington.
Toxic Plans for Toxic Assets (tags)
Obama stimulus from hell.
Tarp Stimulus Banker Johns Save by Writing Off Kristin Davis Hookers (tags)
Some things never change.
Sanders Votes No on Geithner: “He’s] More of a Part of the Problem…Than the Solution” (tags)
"What came out of the House is not only a huge investment in our infrastructure, a huge investment in energy, we’re talking about billions of dollars are going to protect our most vulnerable Americans, significant increase in food stamps and other programs.."
The Blood of the Black Sheep (tags)
Crisis and Catharsis. Capitalism begins its great self-purging to remain what it is. The Wall Street boys and girls have not forgotten how to make money amid crisis. The speculation bubbles burst. The fictional wealth dissolves in thin air thanks to falling home prices and stock prices.
The Dark Night or NeoCon Artist: (tags)
One wonders why so many in the media and film industry are in such frenzy over Christopher Nolan’s film “The Dark Night”? Granted the movie is good, and in some ways great, but still the plot is really no more ingenious that what passes for standard fare on Law and Order. So why is it that the Powers-that-Be is such a tizzy? No doubt a fair share has to do with it portending to hold a mirror up to post-9/11 society—with a major theme of how terror can corrupt those that fear and fight terrorism.
The Dark Night or NeoCon Artist: (tags)
One wonders why so many in the media and film industry are in such frenzy over Christopher Nolan’s film “The Dark Night”? Granted the movie is good, and in some ways great, but still the plot is really no more ingenious that what passes for standard fare on Law and Order. So why is it that the Powers-that-Be is such a tizzy? No doubt a fair share has to do with it portending to hold a mirror up to post-9/11 society—with a major theme of how terror can corrupt those that fear and fight terrorism.
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.
Wall St. and the Fed Get Fatter, While Main St. Suffers (tags)
The greed of some of the Wall St. banksters, and the Fed’s inept policies, like condoning deregulation, are the real causes of the current financial meltdown. Nevertheless, the U.S. Congress has given them a green light to rake in trillions of dollars in taxpayers’ bailout money, with little or no public disclosure. The Fed’s functions should be taken over by the Treasury Dept. Main St. needs to be Congress’ prime concern, not Wall Street.
Early Suspicions About Bernard Madoff (tags)
All Wall Street like Madoff
5 Disastrous Decisions That Got Us into This Econmic Mess (tags)
We are at a dangerous moment. Behind the debates about future economic policy is a debate about history. Joseph Stiglitz, a Nobel laureate, is a professor of economics at Columbia University.
Excess Debt and Deflation = Depression (tags)
the worsening economy
Obama's Economic Dream Team? (tags)
indeed for Wall Street bankers
"Like the Fall of the Wall" (Joseph Stiglitz) (tags)
The mixture of low interests, excessive liquidity and lax oversight on money institutes led to the financial crisis. National indebtedness rose two-thirds in only eight years. The govt should immediately begin investing in the infrastructure, education and other projects.
The Federal Reserve: History of Lies, Thievery, and Deceit (tags)
Former Congressional Candidate, 6th District N.J. "I place economy among the first and most important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt." Thomas Jefferson
Bankruptcy of the Last Utopia (tags)
The economy should be a part of life, not a steamroller crushing creativity and self-realization. The economy should serve humankind; humanity should not serve bankers, SUVs and sports stadiums. The same Chinese letter represents crisis & opportunity.Will future be more human?
Greed is the Nature of the System (tags)
Politics was corrupted byt he economy and lost control to the economy. In the private enterprise system, there are too many incentives that oppose the public interest. When company pensions end, workers speculate. When high profits are the norm, companies speculate.
A reality check.
The deepening economic crisis.
Hey, Prez-Elect Obama: Say “Thanks” to Alan Greenspan! (tags)
Sen. John McCain’s presidential candidacy was done in mostly by a Wall Street-Financial Meltdown, in late Sept. 2008. This phenomenon took the issue of “national security,” which favored him, off the table, and replaced it with “the economy,” which was Sen. Obama’s strongest suit. The fact that Dubya is the most unpopular president in history, coupled with having $639 million to spend, all added up to a smashing victory for Prez-Elect Obama.
The wages of sin have come due.
Public Enemy Number One (tags)
Fed- engineered crisis.
Financial Market Capitalism: Neoliberalis become State Socialists (tags)
Neoliberalism is neither new nor liberal. All freedom is demanded for capital, even though human dependence is intensified and human existences destroyed. The state becomes a functionary for neoliberal concepts. The debts of Fannie/Freddie are added to the nine trillion.
Frugal – how Palin describes her $150,000 bill for clothes (tags)
IN AN interview that echoes Marie Antoinette's cry of "let them eat cake", Sarah Palin yesterday insisted the $150,000 spent by the Republican party on her campaign trail clothes was "frugal".
The Neediest Need Help Like the Banks (tags)
The same state haggles over every bowl of soup for welfare recipients. For banks, billions appeared overnight. There must also be money for higher wages and more social services.
Growing financial crisis.
STOP THE PRO-WALL STREET NAZI FASCISM OF THE MCCARTHYITE MCCAIN – PALIN HORSE! (tags)
Like the Nazis the Republican campaign is spreading phobia against Marxism to cover up the Republican and Reaganite coddling of Wall Street capitalism, profiteering and deregulation and for the Bush-Paulsen-McCain bailout of Wall Street. Time to stop politicians plumbing out bail-out profits for Wall Street capitalism! Time for real, socialist, Marxist change!
The Fleecing of America (tags)
Public and private looting.
Bush and the neocons caused it all (tags)
Al jazeera tells it all
Russians and Chinese Laugh (tags)
Bailing out speculators is like protecting the sharks from the sardines.or paying the robbers. Executives should absorb their losses by taking a 96% pay cut. Speculation should be discouraged, not rewarded. The Capitol switchboard is easy and free 800-270-0309
The Fed, AIG, Congress, Third Party Candidates and the Debt (tags)
The Fed,” William Greider said, “decides who shall prosper and who shall fail.” American International Group (AIG), Fannie Mae, Freddie Mac and Bear Stearns, all private entities, will be bailed out by the taxpayers. Third Party candidates want an audit and investigation of “The Fed,” an unelected clique. “The Fed,” and the Treasury Dept., are currently submitting a Mother of All Bailout schemes to the Congress. It may cost the public $1 trillion!
Reviewing Danny Schechter's "Plunder" (tags)
A masterful account of the subcrime crisis.
The Dems Are Going the Way of the Whig Party (tags)
The 2006 mid-term election was the tipping point marking the decline of the Dems. They had promised that if they won, that they would end the Iraq War. The Peace Movement was both blind sided and outraged by their refusal to keep their word. This is why, too, Cindy Sheehan, has left the Democratic Party. The Dems have morphed into the DemRepublicrats. Soon, they will be going the way of the Whig Party and taking Sen. Barack Obama with them.
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.
Growth and Social Justice: Joseph Stiglitz (tags)
The trickle-down economy does not function. The left understands the market and rhe role the market can and should play in the economy. The right doesn't understand either. The Bush administration is nothing but the old corporatism in a new garment.
William Greider Raps Predatory Usury Schemes (tags)
How did the country get into this unholy financial mess? Think usury! Acclaimed author William Greider points the finger at banks, and people of great wealth, “taking advantage of poor people by lending them money on terms that are sure to fail.” He blames others, too, like “The Fed,” under the reign of Alan Greenspan, the U.S. Congress, and Wall Street. Mr. Greider charges that these parties worked to “castrate” the watchdogs.
Is Dubya an Agent of the New World Order? (tags)
Conspiracy is as American as apple pie. Every day in America, in state and federal courts, some defendant faces charges of conspiracy. I submit that since 1891, a conspiracy has existed, forged by British imperialist Cecil Rhodes, and others, to reduce America to a vassal state of the New World Order. It is beyond cavil that the policies of Dubya (George W. Bush) have been an absolute disaster for America. Could Dubya be working for the NWO?
Potential Future Hyperinflation (tags)
Potential economic trouble ahead.
David McCullough, at Boston College, Sees No Evil (tags)
What is the role of the intellectual in the Age of Bush and Cheney? On May 19, 2008, David McCullough, gave a commencement address at Boston College, a Jesuit institution. He never said one critical word about the Iraq War or the serial lies of the Bush-Cheney Gang that got the U.S. involved in that Neocon-inspired conflict. I believe Mr. McCullough missed an opportunity to speak out and to inspire the students to take their country back.
Economic troubles are broad, deep and worrisome.
America, Fight Back: Nationalize the Oil Industry! (tags)
Surging oil prices are sinking the U.S. economy, while Big Oil is raking in obscene profits. For example, ExxonMobil recorded profits in 2007 of $40.6 billion. Its CEO’s pay averaged out to $13,700 an hour. Today, gas is selling at $3.50 a gallon with no end in sight. Truckers are paying more for their diesel fuel and as a result food prices are rising. Globally, nationalization of the oil industry is the trend. It’s time for the U.S. to join that club.
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.
Alan Greenspan at the Feds: A Disaster for America (tags)
The supposed financial guru, Alan Greenspan, was nominated to head the Federal Reserve, in 1987, by that union-bashing dunce, President Ronald Reagan. At his confirmation hearing, the late Sen. William Proxmire (D-WI), exposed the fact that Greenspan’s economic forecasting record was “dismal” and “wrong” most of the time. In his book: “Greenspan’s Bubbles,” William A. Fleckenstein proves Sen. Proxmire’s instincts were prophetic.
Neocon Jonah Goldberg Praises David Mamet (tags)
How would you feel if that raving Neocon Jonah Goldberg praised you? Well, this is the position that lapsed liberal David Mamet, a knee jerk supporter of Israel, is in. Mamet endorsed a “Free Market” system and bashed NPR, as “National Palestinian Radio.” In a rant for the Village Voice he explains his conversion to Conservatism and underscores how government should “get out of the way.” Goldberg lionized him for rejecting “the pieties of the Left.”
Financial Meltdown A "Gigantic Fraud"! (tags)
Leading Economic Writer: Financial Meltdown A "Gigantic Fraud" - Says Americans "duped" by "serpent-tongued" elite!
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 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.
The Republican Candidate (4 and 5) (tags)
If this is a subject of interest to you, in the United States today there are five Cuban prisoners, separated one from the other by thousands of miles. They have no area that can be sarcastically called the “Hanoi Hilton”. Their suffering and the injustice of which they are victims will be known the world over; don't doubt it for a minute
The True Story Of The Bilderberg Group (tags)
Review: The True Story Of The Bilderberg Group By Daniel Estulin
Reviewing F. William Engdahl's Seeds of Destruction - Part II (tags)
Agribusiness giants aim to control food worldwide and make it all genetically engineered.
ISRAEL AND TOP ZIONIST LEADERS ATTACK INTELLIGENCE (tags)
ISRAEL AND TOP ZIONIST LEADERS ATTACK INTELLIGENCE
A new book riles the AIPAC crowd, but makes it to the bestseller list anyway. by Scott McConnell
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. "
Torture, Paramilitarism, Occupation and Genocide (tags)
The ugly face of US imperialism
The Killing Silence of Alan Greenspan (tags)
The Bush-Cheney Gang lied the country into the Iraq War. Now, Alan Greenspan, the ex-Chairman of the Board of Governors of the Federal Reserves, has admitted: “’Everyone’ knows the Iraq War was largely about oil!” Greenspan should be forced to testify, under oath, before a Grand Jury and/or the House Judiciary Committee about this amazing disclosure. The American people are entitled to the truth and the liars should be punished.
Greenspan's Dark Legacy Unmasked (tags)
Alan Greenspan's true record of public disservice.
Progressive radio host Thom Hartmann cuts off calls about the pro-Israel lobby (Mearsheime (tags)
Progressive radio host Thom Hartmann cuts off calls about the pro-Israel lobby (Mearsheimer & Walt book)
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?
Alan Greenspan on Thom Hartmann Monday (tags)
Tune in to the Thom Hartmann show Monday on Air America and hear Thom interview Alan Greenspan, head of the US Federal Reserve for 18 years and engineer of the present mortgage-credit-bubble crisis.
American Jewry: Interests and Intents (w/ Help from Haaretz) (tags)
Captain May, the Internet intelligence writer, analyzes the taboo subject of Jewish ethnicity, and its impact upon our national policy. Is the term "anti-Semitism" about those who don't like the Jews -- or is it about those whom the Jews don't like?
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.
A "Slow Motion Train Wreck" (tags)
Financial market turmoil and the Federal Reserve increases it
More war ahead to save a criminal president
The dismal state of the corporate print media.
The Big Meltdown: PAUL KRUGMAN - Financial Crisis; Democrats seek more war funds than Bush (tags)
KRUGMAN: If we’re going to have a financial crisis, here’s how it will play out. THE COMPLETE ARTICLE AND MORE
Brazil: To whom belongs the future? (tags)
In socially mature countries , consolidated and really sovereign, the prospections of the future are made by groups of university thinkers, of governmental and enterprise institutions, as well as groups associated to national NGOS.
Oil in Brazil and the world: analysis under diverse aspects. (tags)
Brazilian government must suspend, while the sector is reorganized, the rounds of licitations of areas promoted by ANP.
THE PRICE OF IMPERIAL ARROGANCE (tags)
THE HARM AT HOME AND ABROAD OF BUSH ADMINISTRATION POLICY
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
America's Glorious Empire of Debt (tags)
Economists have all become like rich notables in the time of Trajan, doing the emperor's work whether they are on his payroll or not.
Arab Port Deal Distorted for Political Gain (tags)
Recently, 8,600 U.S. companies have been taken over by foreign ownership, while 20 percent of all U.S. assets are held by foreigners. The politicians were silent. Now, a United Arab Emirates’ enterprise will soon be operating stevedoring companies in six U.S. ports, including Baltimore’s. Its Mayor, Martin O’Malley, almost broke a blood vessel complaining. However, he didn’t say a word while the preceding British outfit was doing the work. Go figure!
East siders have their way of saying goodbye to Alan Greenspan
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.
Two colossal manmade disasters: Katrina and Alan (tags)
What becomes obvious when a Katrina comes along is that for the many "born to lead," there is only a scant few "committed to serve."
Mr. Greenspan and the German Way (tags)
Greenspan's dilemma is that interest rates must rise to reduce the trade deficit ($617B in 2004) and keep foreign investors ($2B a day) though this could burst the real estate bubble and raise consumer prices. US prosperity is a credit-b ased prosperity.
Weak Dollar and Strong Bush: China and US Debts (tags)
To stabilize the value of the dollar, the US needs a daily currency inflow of $1.8 billion.. The budget plan of the White House rests on unrealistic assumptions.. The Bush administration assumes higher revenues by means of the tax cuts.
George Bush is a murderer! (tags)
Lizard loyalist GW Bush and skull and bones homo erect this, is a terrorist and should be shot on site going by the laws and edicts written up since his 911 mass a cure...
A Snow Job on Social Security (tags)
Bush’s stump campaign to sell his divide-and-conquer plan for wrecking Social Security has been a failure. So now he’s sent out his Treasury Secretary to try crying “wolf” in hopes of scaring retirees and workers about the security of the system. It’s WMDs all over again.
Greenspan: Why is Anyone Still Listening to this Partisan Hack? (tags)
He’s a schill for the President, collects full Social Security benefits and a $200,000 salary, stands to collect another $100,000 a year in federal retirement benefits, and he wants to cut your Social Security benefits! Why should anyone listen to a guy with his lousy trackrecord as an economic and stockmarket forecaster anyway?
The deficit can only be lowered by devaluing the dollar at least 20 to 30 percent.. In 1963 the deficit amounted to five percent of econo-mic output. This changed within eight years into a surplus of one percent. Economic growth, tax increases andspending discipline
Criticism of the Social State is Irrational (tags)
"Paul A Samuelson, an important economist of the 20th century, worries about the state of the US economy. He fears falling wages..`We in the US are on the way to a plutocratic democracy. Neither Bush nor Kerry can stop outsourcing'."
US Expert Sees Danger of World Recession (tags)
"The new administration elected in November 2004 must systematically reduce the deficits. Otherwise an inflation threatens. America within the next two years could lead into a recession.."
INVASION OF SOCIAL SECURITY (tags)
BUSH DECLARES"OWNERSHIP SOCIETY"TELLS CONVENTION HE’S ORDERED INVASION OF SOCIAL SECURITY TRUST FUND
IRS has become a subsidy system for super-wealthy Americans IRS winks at rich deadbeats
The former head of America's secret political police has three of his sons and their cronies, in and out of state and federal government,in various covert and reputed fraudulent enterprises. Family patriarch, George Herbert Walker Bush, has a lot to answer for, which the oil-soaked monopoly press never seems to question. The elder Bush, as we have demonstrated, together with three of his sons, George W., Jeb, and Neil, have 25 super secret bank accounts worldwide,through which they have laundered tens of BILLIONS of dollars of illicit funds from the dope traffic, from weapons smuggling, and clandestine and illegal gold smuggling overseas. The commissar of the Federal Reserve, Alan Greenspan, we prefer to label him Redspan, through his secret authorization codes, arranged the clandestine wire transfers for the Bush Family.[See our website series, "Greenspan Aids and Bribes Bush" and documents thereto attached.]
NESARA: peace information February 20th – April 9th, 2004 (tags)
“This morning from 7:30 am to 8 am, I shared the good news of NESARA on the ?Healthy Choices? show on KEST Radio 1450 AM in San Francisco”
Bill Cristol, forot to tell the lie, the universal lie, that was repeated by FOX NEWS CHANNEL, CNN, and other terrorist networks like DISNEY who also make cartoons like DAVE THE BARBARIAN. They forgot they played the BLAME GAME with me and BILL CLINTON for 25 years at least.
CoupsRUS: Haiti and Venezuela (tags)
An argument that the CIA is involved in both Haiti and Venezuela and the techniques they use to overthrow governments.
Libertarians for the Dingbat (tags)
It strikes me that the Republicans as "the lesser evil" theory no longer carries any weight, notwithstanding their classical liberal rhetoric. A case can be made that Bill Clinton was a better "Republican" than the current ruler of the White House.
How Will Bush Deal With the Deficits? Connecting the Dots to Iraq (tags)
Bush administration's perpetual war and attendant defecit spending responsible for illusory economic prolificacy.
This is the world that has been pulled down over your eyes to blind you from the truth...
Yes, indeed — the Bush boom has begun at last. (tags)
This week's report of a barnburner 7.2 percent rise in gross domestic product is very significant. It informs us of the likelihood of a true recovery boom — call it the Bush boom — in the months and quarters ahead.
Lewis H. Lapham is editor of Harper's magazine. Other articles can be found at http://www.harpers.org.
Enlightened America has No Respect for God (tags)
Government today, which has become the new god, has reached a point where there just isn't enough room on the Grand Stage for two gods. Thus, the courts have consistently ruled in recent days that the 'Other God' and the Ten Commandments display must go.
Proof that Jews have always controlled at least 85% of the U.S. media. (tags)
Listed below are the Big 8 Monolithic U.S. Media Conglomerates that control the minds of Americans. This article explains how the U.S. media have propagandized and conned their American subjects into supporting war on any and all Arab countries for the express benefit of Israel and the oil companies.
"We celebrate the victory over the recession while several hundred thousand employees are dismissed every month', decried Calif congressman Pete Stark. `It would be almost hilarious if it weren't so sad.'..Employers prefer reducing personnel to save costs.."
Working Clas U.S. Perspectives 2003 -2004 (tags)
Working Class
As the ignorant sniveling sycophants of the Bush Junta continuing shoving the heads ever further up their ass more people are beginning to question the wisdom of that policy.
GREENSPAN REPORTEDLY BRIBES AND AIDS BUSH IN GOLD SWINDLES, Part One (tags)
In clandestine meetings, over a period of months, the reportedly genuine documents were turned over to our research and investigation group by government officials clearly in an inside position to possess and confirm such data.
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
Join The Localization Lobby (tags)
Localization as the only means to take back our economy and our democracy.
A Left Wing New Years Resolution: Localization vs. Globalization (tags)
This is why it is good to get some union activist experience. You'll soon discover that people are mainly interested in how to improve their lives and the lives of their families first and foremost.
[PFMPE] Leaders Fit For Fools (tags)
Here we stand, willing victims of a system which not long ago collapsed the world's "economies."
globalisation means war (tags)
The global Swiss banking syndicate that is backing the war effort
Howard Phillips Smokes Sir Alan Greenspan in 150 Words or Less (tags)
Washington's Conservative Caucus Chairman Howard Phillips smokes Sir Alan Greenspan in 150 words or less on the latter's understanding of the American Constitution.
The Enemy is inside the gates (tags)
Urgent Urgent !!
[PFMPE] What IS Free Enterprise? (tags)
Precepts of truly free enterprise and trade. In the wake of Rothschild, Alan Greenspan tells the truth, the whole truth, and nothing but the truth.