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

 
RoXY (OP)

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09/18/2012 10:07 PM
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The Federal Reserve Is Destroying Social Security And The Retirement Plans Of Millions Of Americans
Michael Snyder, Contributor
Tuesday, September 18, 2012
Activist Post

Last week the mainstream media hailed QE3 as the "quick fix" that the U.S. economy desperately needs, but the truth is that the policies that the Federal Reserve is pursuing are going to be absolutely devastating for our senior citizens. By keeping interest rates at exceptionally low levels, the Federal Reserve is absolutely crushing savers and is systematically destroying Social Security.

Meanwhile, the inflation that QE3 will cause is going to be absolutely crippling for the millions upon millions of retired Americans that are on a fixed income. Sadly, most elderly Americans have no idea what the Federal Reserve is doing to their financial futures. Most Americans that are approaching retirement age have not adequately saved for retirement, and the Social Security system that they are depending on is going to completely and totally collapse in the coming years.

Right now, approximately 56 million Americans are collecting Social Security benefits. By 2035, that number is projected to grow to a whopping 91 million. By law, the Social Security trust fund must be invested in U.S. government securities. But thanks to the low interest rate policies of the Federal Reserve, the average interest rate on those securities just keeps dropping and dropping. The trustees of the Social Security system had projected that the Social Security trust fund would be completely gone by 2033, but because of the Fed policy of keeping interest rates exceptionally low for the foreseeable future it is now being projected by some analysts that Social Security will be bankrupt by 2023.

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

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09/18/2012 10:32 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Unemployment and Hopelessness. The Job Crisis and the US Elections - The "Unemployable,” and the Fiscal Cliff
By Shamus Cooke
September 18, 2012

With the November elections right around the corner, the millions of unemployed and under-employed have little reason to care. Aside from some sparse rhetoric, neither Democrats nor Republicans have offered a solution to job creation. Most politicians seem purposefully myopic about the jobs crisis, as if a healthy dose of denial might get them through the electoral season unscathed.

In reality, the jobs crisis continues unaddressed, and threatens to get worse after the election. The post-election “fiscal cliff” of social cuts — “triggered” by Obama’s debt commission — will pull the economy below the current treading-water phase, drowning millions more workers in America in unemployment and hopelessness. In addition, two million more long-term unemployed — those lucky enough to still receive benefits — face the very likely possibility of having their benefits ended due to the trigger cuts.But this is all part of the plan. The current jobs crisis is not accidental; there are public policies that could be implemented — such as a federal jobs program — that would stop unemployment in its tracks. Both parties agree that this cannot be done for the same reason: high unemployment is desirable since it acts as a sledgehammer against wages, lowering them with the intent of boosting profitability for corporations. Creating this nationwide “new normal” takes time.Until corporations have an ideal environment to make super profits — aside from the short-term money printing of the Federal Reserve — unemployment will remain purposefully high. The Feds massive money-printing program — called Quantitative Easing (QE) — is a desperate move that risks super inflation, yet is deemed necessary until politicians implement the economic new normal for workers in America.

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

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09/19/2012 03:31 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Mitt Romney on the Economy


Marxist

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09/19/2012 03:57 AM
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HYPERINFLATION IS INEVITABLE!
 Quoting: Anonymous Coward 1154162


Overcapacity in global capitalism will cause stagflation...runaway food, energy and resources inflation coupled with crushing deflation in consumer goods.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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09/19/2012 12:54 PM
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Judge Napolitano Takes On The Fed 'Not Federal, Not A Reserve,' Designed To 'Make the President Look Good'...
That is ANY President, Dem. or Rep.



Marxist

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09/19/2012 06:52 PM
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Astute of you to highlight the across the board machinations of the Fed, Roxy. Many on here labour under the illusion that one or other conjuring manager of American capitalism will somehow make things better.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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09/22/2012 11:05 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Reality Check: What is QE3? And What It Means For The U.S. Economy


RoXY (OP)

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09/25/2012 01:37 PM
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QE4? The Big Wall Street Banks Are Already Complaining That QE3 Is Not Enough
Michael Snyder, Contributor
Tuesday, September 25, 2012
Activist Post

QE3 has barely even started and some folks on Wall Street are already clamoring for QE4. In fact, as you will read below, one equity strategist at Morgan Stanley says that he would not be "surprised" if the Federal Reserve announced another new round of money printing by the end of the year. But this is what tends to happen when a financial system starts becoming addicted to easy money. There is always a deep hunger for another "hit" of "currency meth".

Federal Reserve Chairman Ben Bernanke was probably hoping that QE3would satisfy the wolves on Wall Street for a while. His promise to recklessly print 40 billion dollars a month and use it to buy mortgage-backed securities is being called "QEInfinity" by detractors. During QE3, nearly half a trillion dollars a year will be added to the financial system until the Fed decides that it is time to stop. This is so crazy that even former Federal Reserve officials are speaking out against it. For example, former Federal Reserve chairman Paul Volcker says that QE3 is the "most extreme easing of monetary policy" that he could ever remember.

But the big Wall Street banks are never going to be satisfied. If QE4 is announced, they will start calling for QE5. As I noted in a previous article, quantitative easing tends to pump up the prices of financial assets such as stocks and commodities, and that is very good for Wall Street bankers. So of course they want more quantitative easing. They always want bigger profits and bigger bonus checks at the end of the year.

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

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09/26/2012 03:55 AM
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Forbes 400 Reinforces Flawed “We Built It” Claims & Misleads About Wealth & Opportunity in the U.S.
By Global Research News
September 24, 2012

Forbes Magazine calls their list of the 400 richest Americans the “definitive scorecard of wealth in America,” but a new report asserts the magazine is misleading. Born on Third Base: What the Forbes 400 Really Says About Wealth & Opportunity in America, released this week by Boston-based non-profit United for a Fair Economy, examines the sources of wealth for members of the Forbes 400 and uncovers the role of inheritance and privilege in economic mobility. The report urges Forbes to stop glamorizing the “self-made man” while minimizing the other factors in wealth accumulation, including tax policies, birthright, gender, and race.

The report finds that 40 percent of the Forbes 400 list inherited a sizable asset from a family member or spouse, and over 20 percent inherited sufficient wealth to make the list. In addition, 17 percent of the Forbes 400 have family members on the list.

“Forbes spins a misleading tale of what it takes to become wealthy in the U.S. by understating the overwhelming impact of birthright and privilege,” said Shannon Moriarty, co-author of the report. “Economic success should be a function of achievement, not just a guarantee for people lucky enough to be born into wealthy families. The Forbes 400 shows that birthright and family privilege are still very much at play in the American Dream.”

CONTINUE: [link to www.globalresearch.ca]
Marxist

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09/26/2012 08:41 PM
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Capitalism is incapable of being rendered fair. It compels even the most fair minded, with its underlying cultural drivers, to accomodate its tendency towards consolidation. It is a dynamic wealth creater but it is also a relentless wealth isolator.

I have attached a link to Manifesto written over 150 years ago. The author might as well have been writing about the contemporary globalisation of capital.

It will require a high degree of widespread understanding to tackle the problems that capitalism will gradually give birth to. What we experience today are but a mere shadow of what we can expect. Whether we are up to the task is the issue.

[link to www.anu.edu.au]
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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09/27/2012 02:14 AM
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43asssd
RoXY (OP)

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09/27/2012 05:02 PM
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'Greece remedy tortures people more than disease'


RoXY (OP)

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09/30/2012 01:08 AM
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Hi Speed Stock Deception Destabilizes Global Markets


RoXY (OP)

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09/30/2012 01:20 AM
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Our Economy has become a Giant Ponzi Scheme


RoXY (OP)

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09/30/2012 06:44 PM
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As Popular Opposition Grows: Austerity Budgets imposed across Europe
By Alex Lantier
September 29, 2012

The French, Spanish and Greek governments all announced multibillion-euro austerity plans yesterday in the face of massive popular opposition.

The French budget presented by the Socialist Party (PS) government of President François Hollande is the harshest since the austerity budgets of the early 1980s under PS President François Mitterrand. It calls for €30 billion (US$38.6 billion) in deficit cuts, including €20 billion in tax increases and €10 billion in spending cuts.

The Spanish budget calls for €13.4 billion in spending cuts in the fourth major package of austerity measures passed this year following the election of the conservative Popular Party (PP) last November. The ministries whose budgets will be most severely cut include Agriculture, Industry and Education.

Greece’s coalition government — which includes the right-wing New Democracy (ND), the social democratic PASOK, and the Democratic Left (DIMAR) — announced that it will unveil a plan Monday for €11.5 billion in spending cuts. Plans for these cuts were first announced in July, but the government initially failed to reach an agreement on how to distribute them.

In each country, the new austerity measures are being pushed through in defiance of public opinion. On Wednesday, millions of workers throughout Greece walked off the job and hundreds of thousands protested in a one-day national strike. On Tuesday, tens of thousands of protesters opposed to the cuts marched to the parliament in Madrid and were brutally attacked by riot police.

In France, Hollande’s popularity ratings have fallen to 43 percent as job losses and austerity measures antagonize voters who elected him in May.

CONTINUE: [link to www.globalresearch.ca]

RoXY (OP)

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09/30/2012 06:46 PM
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What is behind the global stock market rally?
By Andre Damon
September 29, 2012

Despite a string of disastrous economic figures, stock markets throughout the world are surging.

In the past year, the US Dow Jones Industrial Average and the British FTSE 250 have each risen by 20 percent, while the German DAX has shot up by 39 percent. The NASDAQ, consisting mainly of US-based technology companies, has already eclipsed its previous record, set in November 2007, while the Dow is within 600 points of its previous high.

The continued rise on stock exchanges comes as manufacturing activity in Europe, China and the United States slumps to its lowest level in three years. The European economy as a whole is contracting. In the latest raft of dire economic data, released Thursday, US durable goods orders recorded their sharpest fall since 2009. US economic growth for the second quarter was revised downward from an already anemic 1.7 percent to 1.3 percent.

How is one to explain the meteoric rise in stock values even as the global economy is sliding into a deeper slump?

The boom in stock prices is an expression of a global redistribution of wealth from the bottom to the top. The social conditions of the working class have been driven relentlessly downwards, while trillions of dollars have been turned over to the banks, mainly for the purpose of financial speculation.

This process is particularly evident in the United States, the center of world capitalism and the center of the global economic crisis.

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

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09/30/2012 06:50 PM
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Skimming Profits Off Bad Loans: Bankers And Their Dirty Tricks
By Mike Whitney
September 29, 2012

Didn’t Ben Bernanke promise that another round of bond purchases would lower unemployment and boost economic growth?

We think he did, which is why we’re wondering why all the benefits from QE3 appear to be going to the banks. According to Bloomberg News: “The Federal Reserve’s latest mortgage bond purchases so far are helping profit margins at lenders including Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM) more than homebuyers and property owners looking to refinance…Since the Fed’s Sept. 13 announcement that it would buy $40 billion more securities per month, the rates offered for new 30- year loans have fallen by just 0.11 percentage point, compared with a drop of more than 0.6 percentage point for yields on the bonds into which the loans get packaged.”
(“Fed Helps Lenders’ Profit More Than Homebuyers: Mortgages”, Bloomberg)

Well, how do you like that? That means that Mr. Bernanke’s trickle down monetary theories aren’t really working at all. Instead of the savings being passed along to homeowners in the form of lower rates, the banks are juicing profits by taking a bigger share for themselves. Who could have known?

Keep in mind, that Bernanke is not some madcap scientist who doesn’t fully grasp how QE works. That’s not it at all, in fact, he’s considered one of the world’s foremost authorities on the topic and has written extensively on Japan’s deflationary woes and their “broken channels of monetary transmission”, which is shorthand for saying that loading the banks with trillions of dollars in reserves won’t do a blasted thing except pump a little ether into stock prices. (which it has done in the last 2 rounds of easing) So, Bernanke’s been down this road before. He knows what QE will do and what it won’t do, which is why he instructed members from the Bank of Japan (BOJ) to implement fiscal-monetary policies that would have a chance of succeeding. His advice was: “BOJ purchases of government debt could support spending programs, to facilitate industrial restructuring.”

CONTINUE: [link to www.globalresearch.ca]

RoXY (OP)

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10/01/2012 02:17 PM
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The Federal Reserve Sends Thank You Letters To Congress For Letting Them Destroy Our Economy In Secret
Michael Snyder, Contributor
Sunday, September 30, 2012
Activist Post

The Federal Reserve continues to pump up this "bubble economy" by recklessly printing money and by setting interest rates artificially low, and the U.S. Congress continues to stand aside and allow them to systematically destroy our economy. The U.S. Congress could choose to end this madness at any time, but the truth is that Congress won't even pass a law that would allow the American people to see what is going on over at the Federal Reserve.

Congress has voted down every single bill that would authorize a comprehensive audit of the Federal Reserve. So the folks over at the Fed will continue to be able to destroy our future in secret. In fact, back in July Federal Reserve Chairman Ben Bernanke actually sent five thank you letters to members of Congress that gave speeches on the floor of the U.S. House of Representatives encouraging their fellow lawmakers to vote against the bill to audit the Fed. Since the U.S. Congress continues to refuse to do anything to hold the Federal Reserve accountable, the Fed will continue to print unprecedented amounts of money, it will continue to set interest rates insanely low and it will continue to pump up the greatest debt bubble in the history of the world. Unfortunately, all debt bubbles eventually burst, and when this one does it is going to be a financial nightmare unlike anything we have ever seen before.

CONTINUE: [link to www.activistpost.com]

RoXY (OP)

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10/01/2012 02:55 PM
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Renegade (Me too)

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10/01/2012 03:10 PM
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What is behind the global stock market rally?

The boom in stock prices is an expression of a global redistribution of wealth from the bottom to the top. The social conditions of the working class have been driven relentlessly downwards, while trillions of dollars have been turned over to the banks, mainly for the purpose of financial speculation.

CONTINUE: [link to www.globalresearch.ca]
 Quoting: RoXY


This pisses me off.
Who is John Galt?
Marxist

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10/01/2012 04:44 PM
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What is behind the global stock market rally?

The boom in stock prices is an expression of a global redistribution of wealth from the bottom to the top. The social conditions of the working class have been driven relentlessly downwards, while trillions of dollars have been turned over to the banks, mainly for the purpose of financial speculation.

CONTINUE: [link to www.globalresearch.ca]
 Quoting: RoXY


This pisses me off.
 Quoting: Renegade (Me too)


Only to the extent that you are not able to partake in this wealth consolidation. You have to bear in mind that a system that makes a virtue of personal wealth will be driven by the tendency for that wealth to consolidate in fewer and fewer hands. This is an immutable law of any system based on the accumulation of surplus value. In other words, we are prisoners of the material forces we surround ourselves with.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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10/03/2012 09:12 PM
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The Last Housing Crash Is Not Even Over But Bernanke Is Already Setting The Stage For The Next One
Michael Snyder, Contributor
Wednesday, October 3, 2012
Activist Post

Federal Reserve Chairman Ben Bernanke is determined to push mortgage rates to record low levels and he is encouraging the banks that the Fed regulates to make home loans more freely. Wait a second - isn't that exactly what caused the last housing bubble?

After 9/11, the Federal Reserve slashed interest rates and this caused mortgage rates to steadily fall. Financial institutions were urged to help "expand home ownership" in America, and many of them started making home loans to people who never, ever should have gotten home loans. When mortgage rates started to go back up, millions of families with adjustable rate mortgages discovered that they could not make their monthly payments. Mortgage delinquencies absolutely soared and large numbers of mortgage-backed securities suddenly turned into garbage.

So what is the Fed doing about it? The Fed recently announced another round of quantitative easing in which it will buy 40 billion dollars worth of these mortgage-backed securities a month. Essentially the Fed is clearing the bad financial paper out of the system and is creating the conditions for another housing bubble. But will we really fix our problems by going back and doing the same things that got us into trouble in the first place?

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

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10/03/2012 10:39 PM
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World economy slides deeper into slump
By Andre Damon
October 02, 2012

A string of negative reports coinciding with the start of the fourth quarter has revealed a significant deterioration in the global economy, with world trade slowing, manufacturing contracting, and the number of unemployed workers in the euro zone hitting a record high.

Despite these disastrous figures, stock prices in Europe and the United States rose on Monday, fueled by new central bank injections of cash into the global financial system, an intensification of austerity measures against the working class and expectations of new bank bailouts.

Eurostat, the European Union statistics agency, reported Monday that the unemployment rate in the 17-member euro zone remained at record highs in August, while the ranks of the unemployed grew by 34,000, bringing the total of jobless workers to a new high of 18.2 million. The jobless rate was 11.4 percent, the same as in July. A year ago, the region’s jobless rate was 10.2 percent.

In the 27-nation European Union as a whole, 25.5 million people were out of a job in August. The EU unemployment rate was 10.5 percent.

The unemployment rates of Spain, Greece and Portugal, the countries hardest hit by the euro crisis, all rose. Spain’s unemployment rate reached 25.1 percent, that of Greece hit 24.4 percent, and Portugal’s rose to 15.9 percent.

The unemployment rate for Italy stayed at 10.7 percent and France’s remained at 10.6 percent. Last week, the French government said the number of unemployed had hit a new record of 3 million.

Youth unemployment in the euro zone likewise worsened, hitting 22.8 percent in August, up more than 2 percentage points from a year ago, according to the Eurostat report. In Spain, 52.9 percent of people under 25 were without work.

The jobs crisis in Europe is likely to get even worse. Markit Economics reported Monday that its euro zone purchasing managers’ index (PMI), a key measure of manufacturing output, was 46.1 in August. As a reading below 50 indicates contraction, the August report marked the fourteenth consecutive month of decline in the manufacturing sector.

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

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10/06/2012 11:03 AM
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Another Phony US Employment Report: Spiralling Number of Involuntary Partime Workers
By Dr. Paul Craig Roberts
October 05, 2012
paulcraigroberts.org

Today’s employment report from the Bureau of Labor Statistics shows 114,000 new jobs in September and a drop in the rate of unemployment from 8.1% to 7.8%. As 114,000 new jobs are not sufficient to stay even with population growth, the drop in the unemployment rate is the result of not counting discouraged workers who are defined away as “not in the labor force.”

According to the BLS, “In September, 2.5 million persons were marginally attached to the labor force.” These individuals “wanted and were available for work,” but “they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.”

In other words, 2.5 million unemployed Americans were not counted as unemployed.

The stock market rose on the phony good news. Bloomberg’s headline: “U.S. Stocks Rise as Unemployment Rate Unexpectedly Drops,”

A truer picture of the dire employment situation is provided by the 600,000 rise over the previous month in involuntary part-time workers. According to the BLS, “These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.”

Turning to the 114,000 new jobs, once again the jobs are concentrated in lowly paid domestic service jobs that cannot be offshored. Manufacturing jobs declined by 16,000.

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

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10/07/2012 08:30 PM
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:probremec:
RoXY (OP)

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10/08/2012 02:58 AM
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Paul Craig Roberts - MSM Hides Reasons For Economic Crash


RoXY (OP)

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10/08/2012 03:05 AM
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The Largest Economy In The World Is Imploding Right In Front Of Our Eyes
Michael Snyder, Contributor
Sunday, October 7, 2012
Activist Post

A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about?

Not the United States - the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either - the economy that I am talking about is more than twice the size of China. You have probably guessed it by now - the largest economy in the world is the EU economy.

Things in Europe continue to get even worse. Greece and Spain are already experiencing full-blown economic depressions that continue to deepen, and Italy and France are headed down the exact same path that Greece and Spain have gone. Headlines about violent protests and economic despair dominate European newspapers day after day after day. European leaders hold summit meeting after summit meeting, but all of the "solutions" that get announced never seem to fix anything. In fact, the largest economy on the planet continues to implode right in front of our eyes, and the economic shockwave from this implosion is going to be felt to the four corners of the earth.

On Friday, newspapers all over Europe declared that Greece is about to run out of money (again).

The Greek government says that without more aid they will completely run out of cash by the end of November.

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

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10/09/2012 02:54 PM
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Spiraling Gasoline Prices are Impoverishing Americans
By Prof Michel Chossudovsky
October 08, 2012

Together with draconian austerity measures, home foreclosures, layoffs and the phasing out of social programs, the dramatic hike in gasoline prices constitutes yet another economic mechanism which contributes to the impoverishment of millions of people across the land.

Gasoline prices have skyrocketed overnight in California, with prices at the pump exceeding $5 a gallon.

Across America, the increase in gasoline prices has contributed to compressing purchasing power. It has a devastating impact on suburban families. It compresses the levels of household consumption. It contributes to lowering the standard of living.

The hike in gasoline prices constitutes a mechanism whereby money income is routinely appropriated and transferred from households and consumers into the coffers of oil companies and financial institutions. The price hikes result in windfall corporate profits, while contributing to expanding levels of household debt.

The hikes in fuel and gasoline prices across the US (and Worldwide) also contribute to precipitating small and medium sized businesses into bankruptcy.

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

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10/10/2012 01:46 AM
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Are Businesses Quietly Preparing for a Financial Apocalypse?
Dan Steinhart
Tuesday, October 9, 2012
Casey Research

US corporations are sitting on more cash than at any point since World War II.

That's without including banks. I'm only talking about nonfinancial corporations – the ones that sell goods and services and make the economy go.

Those businesses hold $1.4 trillion. In absolute terms, that's the most ever. In relative terms, it's the most since World War II.

CONTINUE: [link to www.activistpost.com]

RoXY (OP)

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10/13/2012 12:43 AM
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Financial Crime in London’s “Parasites Paradise” - The Best Sanctuary Money Can Buy
By Prof. James Petras
October 11, 2012

Whenever financial swindlers prosper at the expense of investors or a bank jiggers interest rates to bugger their competitors or tax evaders flee fiscal crises or rent gouging petrol monarchies recycle profits or oligarchs pillage economies and drive millions to drink, drugs and destitution they find a suitable secure sanctuary in London. They are wooed and pursued by big British realtors eager to sell them multi-million dollar estates, trophy properties and landmark mansions.


Pompous and pretentious British academics convince them to send their progeny to six digit private schools, promising them that when they graduate they will be speaking English through their nasal cavities, rolling their r’s and mastering the art of eloquent but vacuous elocution. British governments, Labor, Liberal, and Conservative, in the best and most hypocritical legal traditions, fashion the legal loopholes to attract the biggest and wealthiest parasites of the world.

Crime Wave Sweeps City of London
A veritable crime wave1 has invaded the City of London, where millionaire investment bankers cook the books for billionaire clients and bilk the Treasury to pay their fines and flout the Law. Courses in business ethics are obligatory at Oxford and Cambridge since it has become standard operating procedure for mega-swindlers to plead guilty, to pay a fine and avoid jail and to solemnly promise to never, ever, flout the law… until the next mega-deal.

London has become the center of global financial capital by engaging in long term large scale active collaboration with multi-billion pound drug, arms, people smuggling and sex-slave cartels. The “Brits” specialize in laundering funds from the Mexican, Colombian, Peruvian, Russian, Polish, Czech, Nigerian narco-kings. Albanian white slavers have their ‘private bankers’ at prestigious City banks with a preference for graduates of the London School of Economics. Bi-lingual Greek kleptocrats, lifelong billion dollar tax evaders, fleeing from their pillaged homeland have their favorite real estate brokers, who never engage in any sort of naughty ‘due diligence’ which might uncover improper tax returns. The City Boys with verve and positive initiative, aided and abetted by the hyper-kinetic “Tony” Blair’s open door policy to swindlers and saints of all colors and creeds, welcomed each and every Russian gangster-oligarch-democrat, especially those who paid cash for multi-pound ‘Olde English’ landmark estates’.

CONTINUE: [link to www.globalresearch.ca]


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