“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be [...]
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“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]
A plan in the works to save money in Concord, Massachusetts. Residents can keep their lights on, but they’ll have to pay a monthly fee. It’s become a hot topic in the town of 17,000. David Ropeik: “Government can’t afford now the basic kinds of things that we thought government basically did.” It’s no wonder [...]
Food staples like rice nearly tripled in six months and at times increased 50% in just two weeks, primarily because of record oil prices and a weak dollar in 2008. Presumably the rise in cost is due to the balance of supply and demand. Presumably too, the rise in production of biological fuels and other [...]
“Goldman Sachs are scum– that’s the bottom line. They have basically co-opted the government; they’ve co-opted the Treasury Department; the Federal Reserve functionality; they’ve co-opted the Obama administration. Barack Obama dances to Goldman Sachs tune.” — Max Keiser Just remember, Hank Paulson [former CEO of Goldman Sachs then Secretary Treasury USA] took Congress hostage– took [...]
“Now we know that January 25th is the date that the state of California has decided to begin jeopardizing public safety with no perceivable financial benefit,” said Weber The justice system is profit driven and thus wholly corrupt. The problem exists not only in California but throughout the nation. California only escalated their woes by [...]
American households have lost $11 trillion in wealth since the peak in the bubble. Below are some highlights from an article by My Budget 360. NOTE the $11 TRILLION DECLINE IN MAIN STREET WEALTH vs. how the Banksters are doing! Budget 360 is the same source that identified the great divide between Wall Street and [...]
“You’ve got to have someone in the store, and if you’re down to one person in the store, you can’t cut any more.” The question is not whether a low growth of 0.1% a quarter signals the end of the recession or not. It is whether the leaders of major financial companies and automobile industries [...]
..the FDIC is contributing to the deflationary trend. It has “tightened rules on required capital levels,” which forces banks’ loan ratios to fall. The FDIC Anesthesia Is Wearing Off November 20, 2009 By Robert Prechter The following article is an excerpt from Robert Prechter’s Elliott Wave Theorist. For more information from Robert Prechter on bank [...]
“The day they decide to float their currency you are going to get huge reversals of financial flows around the globe, which will affect all exchange rates, that’s why I compared it to a tsunami,” Costello said. There’s nothing strange about wanting China to bear its share of a burden that the Western world is [...]
The first citation in the article below, from Kapoor and Schaumbug, hits the nail on the head. This is one of the best articles that explains the whole issue of pay, and supply and demand of labor and productivity with the introduction of China and other Asian economies in the World Trade Organization over the [...]
“You know, it doesn’t take a rocket scientist to figure out that if you keep borrowing and borrowing in order to consume now, eventually you crash and burn,” said Martin Eakes, chief executive for the Center for Responsible Lending. Credit cards are an integral part of our entire society. Everything from on-line purchases, subscriptions, hotel [...]
“The International Forecaster, Bob Chapman, says that A New System For The Privileged Is Not A Remedy For The Economy.” The current financial crisis in the US and around the world was not a failure of capitalism, but an intentional looting of the world financial system by Illuminist crony fascism sheep-dipped in capitalism. The old [...]
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