Gospel. Culture. Technology. Music.

Tag: Economics Page 2 of 3


Russia Today with Gerald Celente on the Economy

Gerald Celente discusses the current status of our economy with Russia Today. In posting this, it is not an attempt at fear-mongering, but simply to point out what needs to be heard so we elect leaders who know what they’re doing to get us out of this. Frankly, even most Republicans don’t seem to understand what to do either. As one guy said recently on a blog I read, “First we need to elect competent leaders who know how the machine of politics and economics works, and then we’ll talk about issues.”

Discussion of a Financial Coup D’Etat on our Economy … on PBS

http://www.pbs.org/moyers/journal/10092009/watch.html

(For the record, I do not necessarily agree with every view in this interview. As far as Moore is concerned, I agree with him concerning the assessment of the problems, that bankers (though I would add the government intertwined with the bankers) have created the problems. But I do not agree with his assessment that capitalism, as a theory, is the problem that perpetuated this crisis … bankers and big government are the problem.)

It stunned me this was aired on PBS with Bill Moyers, of all places: http://www.pbs.org/moyers/journal/10092009/watch.html … really worth watching. These are not some right-wing, gun-slingin,’ militia crazies from the boondocks. In this 20 minute interview, former IMF Chief Economist Simon Johnson and Rep. Kaptur (D-OH) discuss the likelihood that a financial coup d’etat has taken place in our economy. Very fascinating and startling. I never thought I would be hearing these things coming from the likes of PBS with Bill Moyers. Glenn Beck? Sure, you would expect that. But PBS? The conversation in the financial industry is taking a major turn now.

Dumping the Dollar in the Middle East, Russia, China, Japan, and France?

From the Independent: The demise of the dollar:

“In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

“Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

“‘These plans will change the face of international financial transactions,’ one Chinese banker said. ‘America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.'”

Government Action Creating Larger Moral Hazard Than Before Crisis

Ambrose Evans-Pritchard on the Real Cause of the Crisis

Germany declares economic war

“… Banks did not cause this global crisis. Governments around the world caused the crisis by forcing down the price of credit (Greenspan, Bank of Japan, and ECB on short rates: China et al on long rates, by flooding the global bond market) far too low for many years, encouraging debt. Banks were the instruments, not the cause. That is an elementary point that many people … still fail to understand.” – Ambrose Evans-Pritchard

Why the Concern Over Global Governance?

In all reality, we’re already there to some degree. The infrastructure has been put in place for the past 50-60 years. It’s getting switched on now. When a global governing body, in this case the WTO, begins dictating to nation-states when they can and can’t fine other countries, whether one country owes another or not for perceived violations of international law, you no longer have a handle on your own nations’ sovereignty. Found this very interesting. From WSJ.com: WTO Allows Brazil to Fine U.S. (Archive)

American goods will face around $295 million in annual sanctions as a result of the United States’ failure to eliminate illegal subsidies to U.S. cotton growers, the World Trade Organization ruled Monday.

The question though for all of us is, how much further will it go? And how willing is our own government willing to give over even more sovereignty to these global governing bodies? And how does our Constitution play into this?

Orwellian Financial Doublespeak – Update 1

This really makes you wonder who is really running the engine of this nation now: from politics to corporations to the media, it really seems to be the moneychangers now, the banks and major investment firms. And instead of the Fed addressing the “too big to fail” issue, the bailed out banks are even bigger than before after all of these tax-payer funded bailouts.

Don’t believe everything you read in the headlines out there about the state of things in the economy, or in this case the bailouts. It is not rosy nor can we determine the state of the economy based solely upon what the stock market is doing, as some seem bent on doing.

It seems alternative media are more faithful these days to doing actual economic and financial journalism than many of the big hitters, including blogs like Naked Capitalism, Mish’s Global Economic Trend Analysis and Calculated Risk. In addition, though Alex Jones may be the leader of conspiratorial hype movement in the alternative media world, where everyone and their dog is an agent of the Fed and the global elitist interests that are coming to enslave us, he at least has one thing completely right that I agree on: we are in an information war of vast proportions against some wealthy stake holders in this country now.

Take for example this from Naked Capitalism: More Bogus Bailout Reporting: “As Big Banks Repay Bailout Money, U.S. Sees a Profit” (Archive)

“Clearly, the spin is in. As a post earlier today discusses, the Financial Times is running a story that claims that the Fed made money on its rescue programs, then slips in all the tidbits in the body of the article to let discerning readers know that the reporter understands that the analysis is utter rubbish while looking like it is not crossing the Fed.

Peter Schiff on Warren Buffett’s Assessment

Paper: Nearly One-Third Of All Mortgages Are Underwater

Apparently, we have not yet come to the end of the foreclosure mayhem, and therefore, the stress on banks, and therefore the rest of the economy, including the Fed, government and taxpayers. On top of the potential landslide of commercial real estate foreclosures expected this fall, it now appears that about one-third of all mortgages in the U.S. are now underwater (meaning they are on the path to foreclosure or are in the process). Many of the things Peter Schiff and Gerald Celente were saying earlier this year are now coming to fruition. And as Biden said that they “misread how bad the economy was,” well, that appears to be exactly the case. What we have been seeing in the markets since March or so has been a bear market rally it appears.

If Celente’s and Schiff’s predictions hold up, we have years to go before it gets any better in the economy. Just as in the Great Depression, government intervention didn’t fix the problem, it just prolonged it and kept us from a solid recovery. The only thing that got us out of the depression was production and savings, brought on by a massive war, which in Europe was greatly a product of the logical end of eugenics. History repeats itself in strange ways sometimes. This time around, we have economic calamity (like the depression), climate change (like eugenics), and an unstable Middle East (like Europe).

Hans-Hermann Hoppe on Healthcare Reform

A Four-Step Healthcare Solution (Archive)

This post will undoubtedly be met with a complete misunderstanding of what these solutions would actually do for those who cannot currently get health insurance (namely because of costs, resulting ultimately from government meddling, which has had a domino effect in the private sector). In particular, many will consider the proposal below of “[eliminating] all subsidies to the sick or unhealthy,” as a flagrant attack on the poor, sick and disenfranchised, when in reality, it will actually have the opposite effect of what might be expected. To many, such a proposal seems counter-intuitive, but the incentive created for the poor will be that costs are lowered, making it affordable for them.

I just wanted to preface the intent here, since some seem intent on framing such a proposal as “evil conservatism.” Such an assumption by some, to me at least, shows a great deal of intellectual dishonesty in not dealing with the argument proposed here. Letting the free market work, and getting the quasi-Marxism out of the mix, will have drastic effects on getting better healthcare coverage for all, including the poor and sick. If you disagree, fine. But don’t label such an idea as evil when clearly the goal is making healthcare available and more affordable for everyone.

The solution to our health care woes is not to put more regulations or government control over this sector of our economy or to provide a public option which will stifle competition and create less incentive in the market. The real solution is to free it from the bureaucratic and government constraints, getting rid of the subsidies and red tape. This will inevitably lower prices, which will create the incentive for many more people to purchase insurance at a reasonable price that cannot currently.

Page 2 of 3

Powered by WordPress & Theme by Anders Norén