“The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth for our elite. Corporations, behind the smoke screen, have ruthlessly dismantled [...]
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“There is no way the world’s working people can win in the long run, which is getting pretty damned short, or even survive, except by joining the worker struggles, of China, Asia and Africa and India. The idea that American workers are the same as the Asian and Latin American and African working people goes [...]
It seems counter intuitive but both Canadian nationalism and Quebec Nationalism were born in the late 1960′s out of the globalist plan for North American “free trade.” Canadian nationalism was needed to repatriate the Constitution, a prerequisite for Free Trade; while, Quebec nationalism was needed to reassure French Canadians their rights would not be jeopardized [...]
The whole “cut them loose” argument regarding Greece’s gargantuan moutain of debt and its inability to pay the interest is ignorance. Looking back in recent history (2002 to present) when Argentina defaulted on its mountainous debt, 20 percent of the Italian pension system went with it and hundreds of thousands of Europeans lost a significant [...]
“The International Monetary Fund (IMF) has proposed new taxes on financial institutions to cover the costs of future potential bailouts, leaked documents show.” According to the IMF proposals circulated to the Group of 20 advanced and developing countries on Tuesday, the measures would see all institutions pay a bank levy as well as a further [...]
“As interest rates begin to rise worldwide, losses in derivatives may end up bankrupting a wide range of institutions, including municipalities, state governments, major insurance companies, top investment houses, commercial banks and universities.” The economy is seriously out of whack. The 25 highest-paid hedge fund managers earned a total of more than $25 billion last [...]
“Who are they trying to kid?” Bittner says. “Are they trying to make you think it’s better so you’ll go out and spend?” Well, yes. The nation’s fragile consumer confidence, which sank to a record low about a year ago, could keep the fledgling economic recovery stuck in first gear, says Ken Goldstein, an economist [...]
“The increase in jobs highlighted in the nation’s most recent unemployment report carried the sound of economic promise, but Obama administration officials on Sunday warned that the public shouldn’t expect any dramatic improvement in the jobless rate largely because of the effect of thousands of “discouraged” unemployed people who have resumed their search for work.” [...]
“Canadians may be worried about impending interest rate hikes and the strength of the Canadian dollar, which may be responsible for the slight drop in the Index and their weakening expectations of economic performance in both the short- and long-term.” From what many economists see is that the tough times have yet to go away. [...]
“While the sources for the supposed increases in U.S. consumer spending are murky at best, the amount of consumer spending in and of itself is not a determinant of whether or not economic recovery is taking place.” The banks are making billions and adding extra fees, mortgage rates are going up so banks will increase [...]
“This was all inflation dependent financing. If the Federal Reserve and the rest of the world continued to inflate, cheap money would have bailed these projects out. With the Fed halting money printing, there are not enough dollars to support this debt structure.” The Greeks are in a real pickle, but it is one they [...]
“My goal over the course of the next year is for China to recognize that it is also in their interest to allow their currency to appreciate because, frankly, they have got a potentially overheating economy,” Obama said. Mr Obama, debt is the problem, not China. The American government debt is well over $50,000 per [...]
“.. debating the stages of decline may be a waste of time — it is a precipitous and unexpected fall that should most concern policymakers and citizens … most imperial falls are associated with fiscal crises. Alarm bells should therefore be ringing very loudly indeed as the United States contemplates a deficit for 2010 of [...]
Many marchers carried banners that said, “Working people should not be made to pay for the crisis that we did not create.” Their government, the banks and the people are to blame, but it seems that the people are getting all of the flak. The government: They are choosing to borrow from the big banks [...]
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