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THE ECONOMY & YOU # (Daily Updated Videos & Articles)

 
RoXY (OP)

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02/28/2012 03:54 PM
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Greek Lessons: Democracy versus Debt-Bondage
by David McNally
February 28, 2012

It is a truism to say that democracy began with the Greeks – less so to say that it originated in popular rebellion against debt and debt-bondage. Yet, with the Greek people ensnared once more in the vice-grip of rich debt-holders, it may be useful to recall that fact. For the only hope today of reclaiming democracy in Greece (and elsewhere) resides in the prospect of a mass uprising against modern debt-bondage that extends the rule of the people into the economic sphere.

Across virtually all the ancient world, to fall into irretrievable debt was to enter into bondage to the rich. For millennia, the poor typically had no collateral for loans beyond their bodies and their labour. The result in ancient Greece, as Aristotle acknowledged, was that “the poor ... were enslaved by the rich.”[1]

Beginning more than 2,600 years ago, a succession of upheavals by the Athenian poor – or the demos – broke the power of the aristocracy and began a drawn out democratic revolution. Squeezed by debts and the spread of debt-bondage the common people rendered their aristocratic society effectively ungovernable. In 594 BC, in an effort to restore stability, huge concessions were made to the demos: all debts were cancelled and debt-bondage abolished. For the first time, poor men acquired meaningful rights to political participation. And they used those rights to systematically curtail the unaccountable power of aristocrats, accomplished by elevating the popular Assembly and its direct democracy above all other institutions.[2] So interconnected were the principles of democracy and economic justice for the demos that Aristotle identified “the rule of the poor” as the essence of a democratic state. “In democracies,” he explained, “the poor have more sovereign power than the rich.”[3] For this reason, struggles by the rich to increase their social and economic power invariably took the form of struggles against democracy.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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02/28/2012 08:11 PM
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America's Credit and Housing Crisis: New State Bank Bills
by Ellen Brown
February 27, 2012
Web of Debt - 2012-02-26

Seventeen states have now introduced bills for state-owned banks, and others are in the works. Hawaii’s innovative state bank bill addresses the foreclosure mess. County-owned banks are being proposed that would tackle the housing crisis by exercising the right of eminent domain on abandoned and foreclosed properties. Arizona has a bill that would do this for homeowners who are current in their payments but underwater, allowing them to refinance at fair market value.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/01/2012 12:57 AM
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Gas Prices as an Indicator of Energy Costs
by James Hall
February 29, 2012

The consumer does not need more reminders about the pain experienced with every fill up at the pump. The drain on your pocketbook is growing. During economic dislocation and diminished vitality any prospects of a turnaround dim as gas approaches $4.00 a gallon and beyond. Been here before and the idea that this time the economy will be less effected is unreasonable. The cost for all energy is rising but the impact of gas prices has a personal burden on everyday budgets. The Price of Fuel provides a useful synopsis.

CONTINUE: [link to www.batr.org]
RoXY (OP)

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03/01/2012 05:01 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Fed Reserve Caught Red Handed


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03/01/2012 05:09 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Ron Paul Assaults Ben Bernanke On Parallel Currencies


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03/01/2012 11:54 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Warren Buffett Paradigm Puppet


RoXY (OP)

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03/04/2012 04:36 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Andrew Napolitano - The Story of Money


RoXY (OP)

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03/04/2012 04:59 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Investors Trading On Weather


RoXY (OP)

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03/04/2012 10:29 AM
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There is an Alternative to Neoliberal Monetary Austerity
by Prof. Michael Hudson
March 4, 2012

I have just returned from Rimini, Italy, where I experienced one of the most amazing spectacles of my academic life. Four of us associated with the University of Missouri at Kansas City (UMKC) were invited to lecture for three days on Modern Monetary Theory (MMT) and explain why Europe is in such monetary trouble today – and to show that there is an alternative, that the enforced austerity for the 99% and vast wealth grab by the 1% is not a force of nature.

Stephanie Kelton (incoming UMKC Economics Dept. chair and editor of its economic blog, New Economic Perspectives), criminologist and law professor Bill Black, investment banker Marshall Auerback and me (along with a French economist, Alain Parguez) stepped into the basketball auditorium on Friday night. We walked down, and down, and further down the central aisle, past a packed audience reported at over 2,100. It was like entering the Oscars as People called out our first names. Some told us they had read all of our economics blogs. Stephanie joked that now she understood how the Beatles felt. There was prolonged applause – all for an intellectual rather than a physical sporting event.

With one difference, of course: Our adversaries were not there. There was much press, but the prevailing Euro-technocrats (the bank lobbyists who determine European economic policy) hoped that the less discussion of possible alternatives to austerity, the easier it would be to force their brutal financial grab through.

CONTINUE: [link to globalresearch.ca]

RoXY (OP)

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03/04/2012 10:52 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Is Adam Smith's Invisible Hand a Pickpocket?
by Prof. John Kozy
March 3, 2012

Well, we're climbing the volcano again. Although nothing physical has changed, the confidence of brokers has been shaken by the American attempt to get other nations to stop buying Iranian oil in support of Israel's fear that Iran is developing nuclear weapons which Israel wants stopped. But as yet, the supply of oil has not been reduced by a single drop. Still the law of supply and demand is being invoked ahead of any drop in supply as an excuse for raising gasoline prices in the United States and perhaps elsewhere too. How convenient!

Three years ago I posted a piece titled The Flaw of Supply and Demand which demonstrates that the so-called law was nothing but an unsupportable notion that functions as a business practice in some segments of the economy. The piece shows that the "law" rests on absolutely no data and has not an iota of empirical support. As a matter of fact, the "law's" refutation is so simple that at least some economists throughout Capitalism's past must have realized it; yet economists have given the "law" a prominent place in economics textbooks generation after generation as though it were a divinely inspired edict. How can anyone understand why this is so? Why do economists continue to acclaim a meaningless notion as an economic law?

Let's look at what actually happens when the law is invoked. Assume that the supply of oil (or any other commodity) drops. According to the law, suppliers raise the price. Why? To reduce demand, we're told. Really?

Let's talk about demand. In the context of the law of supply and demand, it's ambiguous. Let's say the supply of potable water shrinks. Would the number of people demanding water go down? Not in the least. In the U.S., where means of transportation alternate to the automobile are lacking, would fewer people want gasoline than did before the supply shrank? A few, perhaps, but not many. So when an economist says the demand shrinks as the price rises all s/he is actually saying is that fewer units of the commodity are purchased. So the law then means that when the price is raised because the supply shrinks, the price is raised in order to sell fewer units of the commodity. But why would any vendor want to sell fewer units of any commodity? After all, vendors are in business to sell the commodities they offer. So this explanation makes no sense. Prices are not raised to reduce sales; they're raised to increase profits. That's all there is to it.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/06/2012 12:41 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Silver is the Achilles Heel!


RoXY (OP)

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03/07/2012 12:26 PM
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China: Rise, Fall and Re-Emergence as a Global Power - The Lessons of History
by Prof. James Petras
March 7, 2012

Introduction
The study of world power has been blighted by Eurocentric historians who have distorted and ignored the dominant role China played in the world economy between 1100 and 1800. John Hobson’s[1] brilliant historical survey of the world economy during this period provides an abundance of empirical data making the case for China ’s economic and technological superiority over Western civilization for the better part of a millennium prior to its conquest and decline in the 19th century.

China ’s re-emergence as a world economic power raises important questions about what we can learn from its previous rise and fall and about the external and internal threats confronting this emerging economic superpower for the immediate future.

First we will outline the main contours of historical China ’s rise to global economic superiority over West before the 19th century, following closely John Hobson’s account in The Eastern Origins of Western Civilization. Since the majority of western economic historians (liberal, conservative and Marxist) have presented historical China as a stagnant, backward, parochial society, an “oriental despotism”, some detailed correctives will be necessary. It is especially important to emphasize how China , the world technological power between 1100 and 1800, made the West’s emergence possible. It was only by borrowing and assimilating Chinese innovations that the West was able to make the transition to modern capitalist and imperialist economies.

In part two we will analyze and discuss the factors and circumstances which led to China ’s decline in the 19th century and its subsequent domination, exploitation and pillage by Western imperial countries, first England and then the rest of Europe, Japan and the United States .

In part three, we will briefly outline the factors leading to China’s emancipation from colonial and neo-colonial rule and analyze its recent rise to becoming the second largest global economic power.

Finally we will look at the past and present threats to China ’s rise to global economic power, highlighting the similarities between British colonialism of the 18 and 19th centuries and the current US imperial strategies and focusing on the weaknesses and strengths of past and present Chinese responses.

CONTINUE: [link to globalresearch.ca]
Anonymous Coward
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03/07/2012 12:31 PM
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The BEST Video On Economic Collapse That Has Been Seen A Record 5 MILLION TIMES (have you seen it yet?)

VIDEO:
[link to www.futuredatabank.com]
RoXY (OP)

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03/07/2012 05:53 PM
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EU Austerity Madness
Stephen Lendman, Contributing Writer
Wednesday, March 7, 2012
Activist Post

European/American austerity assures a 1% wealth grab at the expense of all others.

Prioritizing banker payments causes debt bondage, human misery, economic wreckage, and eventual collapse. What can't go on forever, won't. It's not rocket science; it's fact.

Economies thrive on productive economic growth. It includes public sector infrastructure investment in transportation, research and development, roads and bridges, education, healthcare, and other vital areas. Sacrificing it for bankers and other vulture investors causes Greek-type crises.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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03/08/2012 03:10 AM
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Mass Banking Resignations Signal a Purging Has Begun?

Brandon Turbeville
Tuesday, March 6, 2012
Activist Post

According to a list compiled by independent blog, American Kabuki, at least 122 banking directors, CEOs, and board members of both national and international stature have resigned since September of last year. The blog recently posted a list of all 122 of these individuals with links to the announcements and reports of their resignation.

The fact that banks have been reshuffling their personnel is, of course, nothing new. However, 122 resignations does seem like a large number, particularly when one realizes that many of these resignations are coming from relatively large institutions.

As a result, there has been much speculation and concern on the part of many observers as to what these shifts actually mean.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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03/08/2012 01:05 PM
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America: Land of the Poor
Stephen Lendman, Contributing Writer
Thursday, March 8, 2012
Activist Post

Years ago, who could have imagined the appalling growing poverty level in the world's richest country?

Various reports confirm it, including a new one by the University of Michigan's National Poverty Center (NPC), titled “Extreme Poverty in the United States, 1996 to 2011”.

NPC promotes multidisciplinary research on poverty and policy. It mentors and trains poverty researchers. It analyzes causes and consequences, and addresses pressing policy questions at both federal and state levels.

How is poverty calculated, it asked?

The Census Bureau issues annual thresholds. They represent minimal income levels required to support various family sizes. Its methodology dates from the mid-1960s and hasn't changed. Inflation's taken into account annually. Families are judged poor based on pretax income. Non-cash benefits aren't counted, such as Medicaid and food stamps.

In 2010, singles under 65 with incomes of $11,344 or less were designated poor. For those over 65, it was $10,458.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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03/08/2012 04:23 PM
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Icelandic Anger Brings Debt Forgiveness in Best Recovery Story
By Omar R. Valdimarsson
februari 28, 2012

Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.

Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association.

“You could safely say that Iceland holds the world record in household debt relief,” said Lars Christensen, chief emerging markets economist at Danske Bank A/S in Copenhagen. “Iceland followed the textbook example of what is required in a crisis. Any economist would agree with that.”

The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates. It costs about the same to insure against an Icelandic default as it does to guard against a credit event in Belgium. Most polls now show Icelanders don’t want to join the European Union, where the debt crisis is in its third year.

The island’s households were helped by an agreement between the government and the banks, which are still partly controlled by the state, to forgive debt exceeding 110 percent of home values. On top of that, a Supreme Court ruling in June 2010 found loans indexed to foreign currencies were illegal, meaning households no longer need to cover krona losses.

CONTINUE: [link to mobile.businessweek.com]
RoXY (OP)

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03/10/2012 10:55 AM
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Evolving Global Financial Crisis. Selling "Foreclosed Homes"
by Bob Chapman
March 10, 2012
International Forecaster

The government is preparing to package and sell foreclosed homes. We do not know what discount to the current market there will be but you can guess it will be 20% or more. This event will cause home prices to trend lower dependent on whether the houses are put up for sale or rented. These homes will only be available to big buyers such as hedge funds and others with enormous amounts of capital. It is expected that the homes will be sold in lots of 5,000 to 10,000 and the minimum bid would be $1 billion. This is corporatist fascists busy at work. You could call it the largest transfer of wealth from the private to the public sector in history. Fannie Mae and Freddie Mac could be sellers of 250,000 or more homes with more in the wings, perhaps another 250,000. Can you image what further damage that would do to home prices? In the auction process the big winners will be the big NYC money center legacy banks, hedge funds and other mega investors. Others playing a big part will be management and marketing contractors that presently manage government properties. The owners and officers of these firms are former high-ranking government officials. The goal is to rent these residences, creating cash flow and then roll the bundles into REITS, real estate investment trusts. At that juncture the public can then participate as investors.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/11/2012 10:56 AM
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Greece Officially Defaults, UK Prepares For Euro Collapse
Alexander Higgins, Contributing Writer
Saturday, March 10, 2012
Activist Post

UK Government prepares for Euro collapse and nuclear financial fallout of Moody’s officially declaring a Greece default on their sovereign debt.

Greece has now become the first developed western nation to default on its sovereign debt and, while the media is downplaying the consequences, no amount of propaganda and deception will be able hide the debris that will be scattered across Europe once the the financial shit-storm is done blowing over.

The consequences will be severe indeed as the spotlight focuses on the rest of the PIIGS nations while investors are forced to consider the situation in Greece, which does not bode well for the economic future of these nations nor is it a good omen for the future of the Euro.

While this can easily be written off as the speculation of some blogger, you’ll see below that the BBC reported that even the UK government issued a red alert warning just yesterday running the headline “UK must prepare for the collapse of the Euro” predicting that the events that unfolded today would soon come to fruition.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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03/11/2012 07:27 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
How Shopping Malls Make You Buy


RoXY (OP)

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03/12/2012 02:53 AM
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The Land of the Mega-rich: No Jobs For Americans
by Dr. Paul Craig Roberts
March 11, 2012

March 9. Today the Bureau of Labor Statistics (BLS) announced that 227,000 new nonfarm payroll jobs were created by the economy during February. Is the government’s claim true?

No. Statistician John Williams (shadowstats.com) reports that 44,000 of these jobs or 19% consist of an add-on factor derived from the BLS’s estimate that 44,000 more unreported jobs from new business start-ups were created than were lost by unreported business failures. The BLS’s estimate comes from the bureau’s “birth-death model,” which works better during normal times, but delivers erroneous results during troubled times such as the economy has been experiencing during the past four years.

Taking out the 44,000 added-on jobs reduces the February jobs number to 183,000, but does not provide a full correction. In an economy as troubled as the US economy is, most likely the deaths exceeded the births, but we don’t know what the number is. Was it 20,000? 50,000? What number do we deduct from the 183,000? We simply do not know.

Williams reports that seasonal adjustment factors do not work properly during troubled economic times and add their own overstatement to the jobs figure. If anyone could estimate the overestimate of new jobs that results from malfunctioning seasonal adjustments, it is John Williams, but he doesn’t provide an estimate.

Most likely, the new jobs did not exceed 150,000, a figure that would merely keep even with population growth and thus not reduce the rate of unemployment, which, consistent with this deduction, remained constant.

Let’s look now at the kind of jobs that were created. Of the new jobs reported by BLS, 92% are in services. Of this 92%, only 7% could possibly relate to exportable services -architectural, engineering, and computer systems services.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/12/2012 06:18 PM
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The Greek Bailout and Germany's "Plan B": If Germany bails on the Euro, the EU will collapse - The Black Swan NO ONE is Talking About
by Phoenix Capital Research
March 12, 2012
zerohedge.com

While the Second Greek Bailout may or may not be complete (depending on whether we get a credit event as a result of it), Germany can and will walk from the Euro if it needs to. This is the unforeseen black swan everyone is ignoring.

Obviously, Germany wouldn’t want to do this as it would result in Germany being blamed for the Euro failing. So thus far, “Plan A” for Germany has been to offer bailout funds that are contingent on requirements so unpalatable that Greece or any other PIIG would likely end up preferring to walk rather than submit to them.

Case in point, before the second Greek Bailout German Finance Minister Wolfgang Schäuble proposed that Greece should postpone its April elections as part of the bailout package.

In simple terms, Schäuble is concerned that the unpopularity of the austerity measures being imposed on Greece as part of the second bailout package would lead to a “wrong” democratic choice.

Let that last paragraph sink in for a moment; it’s so outlandish it’s hard to even comprehend. Imagine if a Chinese official suggested the US put off its elections otherwise China would dump US Treasuries en masse and you’ll see what I mean.

Understand, Schäuble is no idiot. He knows that there is no way Greece would go for this. So his comment can only be seen as an attempt to incite a Greek backlash while also winning political points in Germany.

Indeed, those who show themselves willing to play hardball with Greece have seen a huge boost in the polls (Merkel recently saw her approval ratings hit their highest levels since her re-election by doing this). Schäuble is obviously taking a page from her playbook here.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/14/2012 09:00 AM
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Vanishing Pensions: All Over America Old Age Pensions Are Being Slashed or Eliminated
Global Research,
March 14, 2012
theeconomiccollapseblog.com

How would you feel if you worked for a state or local government for 20 or 30 years only to have your pension slashed dramatically or taken away entirely? Well, this exact scenario is playing out from coast to coast and in the years ahead millions of elderly Americans are going to be affected by broken promises and vanishing pensions. In the old days, things were much different. You would get hired by a big company or a government institution and you knew that the retirement benefits that they were promising you would be there when you retired in a few decades. Unfortunately, we have now arrived at a time when government institutions and big companies have promised far more than they are able to deliver, and "pension reform" has become one of the hot button issues all over the nation.

Many Americans that have been basing their financial futures on their pensions are waking up one day and finding that their pensions are either gone or have been cut back dramatically. According to Northwestern University Professor John Rauh, the latest estimate of the total amount of unfunded pension and healthcare obligations for state and local governments across the United States is 4.4 trillion dollars. America is continually becoming a poorer nation and all of that money is simply not going to magically materialize somehow. So where is that 4.4 trillion dollars going to come from? Well, either pension benefits are going to have to be cut a lot more all over America or taxes will need to be raised dramatically. Either way, we are all going to feel the pain of these broken promises.

CONTINUE: [link to globalresearch.ca]

RoXY (OP)

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03/14/2012 09:57 AM
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SOCIAL INEQUALITY IN AMERICA: Incomes of Top One Percent in US Skyrocket...
by Kate Randall
March 13, 2012
World Socialist Web Site

Income for the top 1 percent of US households rose dramatically in 2010, the first full year following the official end of the recession, according to recently released data. By contrast, the average income of the bottom 90 percent of households remained at its lowest level since 1983.

A March 7 report by the Center on Budget and Policy Priorities (CBPP), based on data compiled by University of California Berkeley economist Emmanuel Saez and his colleague Thomas Piketty, shows that in the wake of the greatest economic downturn since the Great Depression the share of total income going to the top 1 percent of US households rose to 19.8 percent in 2010. While slightly lower than the peaks of 2000 and 2007, this percentage is among the highest since the 1920s.

The Piketty-Saez analysis is based on 2009 and 2010 Internal Revenue Service data. Significantly, it provides detailed information extending back to 1913. Although this IRS data does include information for those not filing taxes, and does not account for household size, the CBPP expects Congressional Budget Office data will track similar income trends.

Over the past decade, income concentration has reached levels not seen in over 80 years. According to the Piketty-Saez analysis updated and published in a paper titled “Striking it Richer,” from 2002 to 2007, two-thirds of US total income gains (adjusted for inflation and population growth) went to the top 1 percent of US households. In 2007, the top 1 percent held a larger share of income than at any time since 1928.

From 2002 to 2007, the real, inflation-adjusted income of the top 1 percent of households saw their income rise more than ten times faster than the income of the bottom 90 percent. This dramatic rise is mainly due to the income of the top 0.01 percent.

CONTINUE: [link to globalresearch.ca]

NB: The same happens in the Netherlands - Average income of the '1%' this year has risen with 32 percent...

Last Edited by RoXY on 03/14/2012 10:09 AM
RoXY (OP)

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Challenging the Ruling Global Corporate Conglomerates. Regaining the Real Economy
by Prof. John McMurtry
March 15, 2012

REGAINING THE REAL ECONOMY FROM THE CANCER SYSTEM: THE CHOICE SPACE FOR HUMANITY’S EVOLUTION OR DESTRUCTION

by Professor John McMurtry

In Nature, rights and obligations do not exist. The right is to the stronger, and no obligations confine what is seized or destroyed. Yet what is not seen by those affirming the ‘right of the stronger’ is that few or no beings survive in Nature whose functions do not contribute to their wider life-host.

Scientific ecology has made this clear over many years, but it is a theme of understanding that goes back to the Tao-te Ching over 2500 years ago. It provides a natural basis for understanding human rights and obligations - a life-grounded ecology of justice at the human level. To put the matter boldly, the same logic of the italicised law can be applied to the human level in rights terms.

Rights and obligations are yoked as self survival and function for the life-host are yoked in Nature – but at a higher level where rules regulate instead of natural laws of blind evolution. At the conscious level of evolved social justice, the peck-order, leave-to-die and predation system of Nature are superseded. Even in Nature, the young are protected, fed and taught around the clock by the lives of their mothers in mammalian and bird species – a still instinctual anticipation of the human ascension to morality and justice.

In classical and neo-classical market philosophy, not even pre-human obligation to be human exists. As Adam Smith says in a little-known overview of the market’s supply-demand system, “among the inferior ranks of people the scantiness of subsistence can set limits to the further multiplication of the human species; and it can so in no other way than by destroying a great part of the children which their fruitful marriages produce”.[11] The savagery of the brutes is surpassed by a ruling mechanism without natural beauty or fighting chance. Masses are entrapped within the blindly turning wheels of an indifferently homicidal system. This is why market-capitalist ideology has been so long bent on assimilating the system to natural laws. It drapes the monstrous mechanism in a macro alibi of ‘natural struggle for existence.’

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/15/2012 04:56 PM
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Europe's Economic Crisis: Portugal, Ireland, Spain, Italy and Belgium are Heading in the Same Direction as Greece
by Bob Chapman
March 14, 2012

It isn’t over until it is over. Of course, we are referring to Europe and its version of 1984. We find it profound that the bankers, politicians and bureaucrats of Europe can do what they have done with a straight face. Investor had a haircut shoved down their throats and the ECB, the European Central Bank and the IMF were exempt.

How does that work? That is because some are more equal than others. There is no question this will be a defining event for the European and world financial system. We did see a partial default, but only because the derivative creators, the ISDA, had to make one, otherwise their derivative business would have collapsed. No one will deal with an insurer or a bookmaking operation that doesn’t pay off and constantly arbitrary changes the rules. Needless to say, such machinations are out of sight of the public, because 99% of them certainly do not understand derivatives.

Greece is on its way to its next crisis whether it be via austerity, demonstrations or a military coup. In all likelihood Greece will be followed by Ireland, Portugal, Belgium, Spain and Italy. It will also be interesting to see if bank deposits return to Greek banks. They probably wont and there will be great difficulty affecting any kind of a recovery. The Greek people through all of this have been left out of the equation.

As we mentioned in the last issue the leaders of the euro zone spent three years attempting to avoid such an outcome, but obviously underestimated the depth of the Greek and other country problems. It will be interesting to see how ISDA members handle the $3 billion plus in derivative settlements, or will we ever be privy to them? Whatever European thing was in the solutions it was certainly flawed and failed policy. Almost all politics and very little forward thinking. An avoidance of meltdown and purging only to face the music in six months to a year. Certainly a pyrrhic victory, when the allocation of funds comes up far short of what is needed. What can these people be thinking about, and what will Germany say this week when they expose the fact the new ESM, successor to the EFSF, is unconstitutional in Germany. In addition, these solvent European nations that have lent these funds in behalf of their taxpayers have got to reveal to them just how much they are on the hook for up until now. Are these people dumb enough to believe that austerity, lower wages and higher taxes bring prosperity? The whole scene is surreal and unrealistic. We also wonder what they think about the ECB and the IMF being excluded from Greek and other losses. The voter has to believe they are living in cloud coo-coo-land.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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03/15/2012 05:07 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Secret "Occult Economy" Coming Out of the Shadows?
Brandon Turbeville
Thursday, March 15, 2012
Activist Post

During December 2011 and January 2012, I wrote two articles dealing with the announcement of two different lawsuits being filed in U.S. District Courts regarding astronomical amounts of money in the forms of U.S. Bonds, Federal Reserve Notes, foreign government-issued bonds, and other financial instruments.

The first article, entitled, “Unprecedented Lawsuit Reveals Bizarre Worldwide Banking Connections,” deals with a lawsuit filed by Neil Keenan, an acting representative of the Dragon Family of Asia, that contains a list of plaintiffs including individuals, governments, private institutions, and secret societies that spans the entire globe. Keenan is alleging that a trillion dollars worth of Federal Reserve Notes, Kennedy Bonds, and Japanese Government Bonds were stolen from himself and the Dragon Family by a worldwide cartel network.

CONTINUE: [link to www.activistpost.com]
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03/15/2012 05:19 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Recommended Reading List From Prominent Economists
Robert Ross
Wednesday, March 14, 2012
Casey Research

We at Casey Research are often asked, "What books have had the biggest impact on your investing philosophy?" To find out, we took a quick, informal poll of our most prominent economists, editors, and analysts to see which books helped form their unique economic outlooks.

The books range from mainstays of the political economy, such as Thomas Sowell's A Conflict of Visions, to classics from antiquity, including Plato's The Republic.

However, genres often overlooked – like our founder Doug Casey's longtime interest in science fiction – should give current and prospective subscribers a glimpse into the diverse influences that drive our publications.

CONTINUE: [link to www.activistpost.com]
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03/15/2012 05:48 PM
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The UK Government's Latest Moneymaking Scam - 100 Year Gilts
Brit Dee, Contributing Writer
Wednesday, March 14, 2012
Activist Post

As massively indebted Western economies stand on the verge of financial collapse, the British government has come up with a cynical new wheeze so that it can steal yet more money from the people, to give to the corrupt political and financial elite. In next week's budget Chancellor George Osbourne will announce that the government is to begin offering 100-year gilts - bonds which offer a fixed rate of interest, and which will not be repaid until next century.

The bankrupt British government is attempting to persuade us to exchange our money for a piece of paper that we are expected to trust will have at least the same value when our grandchildren own it in the early 22nd century. Considering the dire state of the British economy - the country is currently officially in debt to the tune of £1 trillion, with some estimating the real total to be £5 trillion - as well as extremely low interest rates and high inflation, with the possibility of future hyperinflation, you would have to be insane to imagine that such an investment is a good idea.

CONTINUE: [link to www.activistpost.com]

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03/15/2012 06:06 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
5 Principles for Money and Banking in a New World System
Eric Blair
Wednesday, March 14, 2012
Activist Post

Increasing numbers of global citizens are becoming aware that the monetary system and international cartel of banks are rotten to the core and represent the root cause of all economic disparity to mankind.

They can literally print all the wealth they need for their cabal, while at the same time transferring the interest attached to each monetary unit created to the general public.

It's a scheme that has given them ownership of nearly every material object on earth, while placing the chains of debt servitude on the whole of humanity. Knowledge of this scheme is reaching a critical mass who are now becoming hungry for solutions.

A great many scholars have put forward models of monetary creation and banking that have tremendous merit for a new world system that better serves all of mankind. These scholars look to what has had some success in the past for presenting a better model for today.

CONTINUE: [link to www.activistpost.com]

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