Users Online Now:
GLP Poker Rooms
GiveMeGossip.com - Gossip Forum
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:RoXY:MV8xNTc4NDI2XzI4NzYzOTg4Xzc2RTQ4MjhC] [b]Crush Labor and Impose Austerity: ECB Head Draghi’s Real Goal for the Eurozone[/b] by Mike Whitney December 23, 2011 Imagine if your banker offered to lend you a $150,000 to make up for the money that you’d lost on your home since the housing bubble burst in 2006. And, let’s say, he agreed to lend you this money for 3 years at rock-bottom rates of 1 percent provided that you post the contents of your garage (ie. rusty bikes, a bent basketball hoop, an old dollhouse, and rodent-infested luggage) as collateral on the loan. [b]Would that seem like a good deal to you?[/b] On Wednesday, the European Central Bank (ECB) made this very same offer to over a hundred underwater banks in Europe, awarding them $640 billion (489 euros) in dirt-cheap 3-year loans in exchange for all manner of dodgy collateral for which there is currently no market. Now you, dear reader, know that when you try to sell something on Craig’s List and there’s very little interest; you have to drop the price in order to attract a buyer. That’s just how supply-demand dynamics work in a free market, right? Au contraire. In fact, this rule never applies to bankers. When the junk assets on a bank’s balance sheet begin to fall in value, the banks just ring-up their big brother at the ECB or the Fed and demand a bailout, er, I mean, “swap liquidity for collateral that is temporarily impaired.” But the truth is, the garbage that the banks have accumulated–particularly the sovereign bonds from Italy, Spain, Greece, etc–is not merely “impaired”. These bonds will never regain their original value because the loans were made at the peak of a bubble. So, there’s as much chance that Greek bonds will bounce back in three years as there is that that tacky $650,000 McMansion you bought in Encinito in 2005 will claw its way back to par. That’s not going to happen. [b]Continue: http://globalresearch.ca/index.php?context=va&aid=28335[/b] [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
NB: UPDATES AT LAST PAGE
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
US Pacific Fleet Commander Drops Bombshell About Obama and Muslim Brotherhood
“Communist Party USA” Leader Drops Bombshell About the Democrat Party
State Of Maine Kicks 6,500 People Off Of Food Stamps
Think the New Underwear You Buy Hasn’t Been Worn Before? Think Again.
Anchor Gives Obama The Finger and looses her job
If You Question Authority, You Are Mentally Ill
Three-million-yr-old ancestor had human-like hands
Pope Pushing Depopulation Agenda of the Georgia Guidestones?
14 PEOPLE HOLD THE SECRET KEYS THAT CONTROL THE INTERNET
Fracking-induced tremors lead to changes in building codes, insurance rates
Mystery goo kills over 200 San Francisco Bay birds, officials stumped
Warning! Secret Chemtrail Operation “Indigo Skyfold” To Go Invisible This Month!
(Watch) Why Are Military Planes Dropping 50 Feet Long Metal “Raindrops” On The American People?
GLPVC TheRawFeedLive Presents La Marzulli Tue Feb 3rd at 11pm est
WHITE People Play The Race Card In A Lawsuit Never Filed By A White Person Before In History
Obama Busted in What May Be the Crime of the Century… Impeach Him NOW
Is a Death Star Coming at Us?
Laser Weapon System Is Ready For War, Less Than $1/Shot
5 Huge Government Conspiracies That Actually Happened
3 Rhinos Make A Daring Escape As Zoo Guard Sleeps
Now We Know The Plan: More Surveillance and a Patriot Act For Europe
Pentagon, DHS, Interior, Working Group on Police Militarization
From Neighborhood Cops to Robo-Cops
Ex-Googler: 'Tons Of Engineers' Want To Leave Google
Obama Blames America for Muslim Terrorism
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd.
Website Design Copyright © 1999 - 2014 Godlikeproductions.com
Page generated in 0.004s (3 queries)