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

 
RoXY (OP)

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12/03/2011 11:21 PM
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PREPARE FOR END OF THE EURO, BANKS TOLD
Posted on truther on December 3, 2011
By Macer Hall

ALARM at the economic turmoil in Europe intensified last night after the Government admitted preparations for the chaotic collapse of the euro were being “stepped up”.

Downing Street is understood to be embroiled in intensive “contingency planning” for Greece and possibly Italy, Spain and Portugal quitting the eurozone.

CONTINUE AT: [link to www.pakalertpress.com]

RoXY (OP)

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12/03/2011 11:22 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Keiser Report: Hang Paulson!!!


RoXY (OP)

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12/03/2011 11:28 PM
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Unintentionally Hilarious Euro Propaganda Video



Last Edited by RoXY on 12/03/2011 11:29 PM
RoXY (OP)

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12/03/2011 11:33 PM
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Bailouts, Bondage And Political Bankruptcy
By Stephen Lendman
12-3-11

Europe and America perhaps face their gravest ever economic crisis. Growing millions are impoverished, unemployed, and out of luck.

Hunger and homelessness are increasing. So is unaddressed anger over handouts to bankers, not people facing crushing hardships.

Economist Michael Hudson calls finance a new mode of warfare. Generalissimo bankers run everything. Co-opted politicians serve them. In return, they're rewarded handsomely.

Ordinary people lose out entirely. So do economies being strip-mined for profit. Hudson asks what's to stop major Western banks from creating any amount of money they wish?

With it they can "buy up all the bonds and stocks in the world, along with all the land and other assets for sale, in the hope of making capital gains and pocketing the arbitrage spreads by debt leveraging at less than 1% interest cost?"

What's to stop them from bankrupting nations to buy valued assets cheap? Who'll stop them when governments play ball? Bankers, in fact, run countries like Greece, Italy, America and Britain. Washington is Wall Street occupied territory. So is London.

CONTINUE AT: [link to www.rense.com]

RoXY (OP)

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12/03/2011 11:36 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Dylan Ratigan's epic "Morning Joe" rant


my2centsworth

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12/03/2011 11:55 PM

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interesting movie, rollover, did you notice the riots were italy, greece, spain as well, part of what is actually occurring at this moment, wonder how a movie had such forsight
 Quoting: Anonymous Coward 1485380


All this economic trouble started in the late 1970's early 1980's.. at that time I was taking an investment course and studied insurance as part of that course. In 1981 Lloyds of London was insolvent, and the scoop at that time was, the world monetary system was in a state of collapse. In order to save Lloyds of London, at that time, all other insurance companies, rallied and took on some of Lloyds debt..Lloyds of London was supposed to be a top notch blue chip investment... and the world was not to know they were failing.... the problem has been growing ever since. What surprises me is that the world monetary system has managed to cover their tracks and stay afloat this long.
Anonymous Coward
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12/04/2011 12:11 AM
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Instead of making products for money, we've made money the product.
RoXY (OP)

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12/04/2011 05:12 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
The Fed Grants $7.77 Trillion in Secret Bank Loan
Congressman Dennis Kucinich (D-OH), a longtime advocate for reform of the Federal Reserve, is sharply criticizing the Federal Reserve today after Bloomberg news reported that the Federal Reserve secretly committed nearly $8 trillion in support to American and international financial institutions during the 2008 bailout. Kucinich recorded a video for his website before going to the floor of the House of Representatives to call upon Congress to reclaim its Constitution primacy over monetary policy.
( [link to tv.globalresearch.ca]


Anonymous Coward
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12/04/2011 05:18 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
[link to www.thedailyshow.com]

How is it that Martha Stewart went to jail?
RoXY (OP)

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12/04/2011 05:37 PM
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[link to www.thedailyshow.com]

How is it that Martha Stewart went to jail?
 Quoting: Anonymous Coward 3722805

For one, they didn't like her decorated plates...
Anonymous Coward
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12/04/2011 06:02 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
bsflag


Im already prospering and intend to prosper more.

how?

because i don't wear a white shirt and tie to work.
 Quoting: Anonymous Coward 1107716


you want fries wit your bullshit
RoXY (OP)

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12/04/2011 06:09 PM
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Instead of making products for money, we've made money the product.
 Quoting: Anonymous Coward 3264109

clappa
RoXY (OP)

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12/05/2011 12:58 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Gerald Celente: 'IT'S FASCIST. CAN'T YOU SEE IT?" - Part ONE




Gerald Celente: 'IT'S FASCIST. CAN'T YOU SEE IT?" - Part TWO


RoXY (OP)

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12/05/2011 01:07 AM
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Jack Abramoff: The lobbyist's playbook
Crooked lobbyist Jack Abramoff explains how he asserted his influence in Congress for years, and how such corruption continues today despite ethics reform.


RoXY (OP)

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12/05/2011 04:42 PM
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Study Documents Desperate Conditions Facing the Unemployed in America
by Andre Damon and Barry Grey / Global Research
December 5, 2011

A study published Friday by Rutgers University documents the desperate situation facing millions of American workers who lost their jobs in the recession that began four years ago. The survey of laid-off workers, conducted by the John J. Heldrich Center for Workforce Development at Rutgers, found that only 22 percent of those who lost their jobs between August 2008 and August 2009 were working full-time as of August 2011.

Just 7 percent of the unemployed initially contacted by the Heldrich Center in the summer of 2009 say they have regained their previous income level. Another 23 percent say they are on their way back, having experienced a minor downward change in their quality of life that they believe to be temporary.

But a full 36 percent speak of “cataclysmic effects” of the recession and prolonged unemployment, including 21 percent whom the report’s authors consider to have been “devastated” and another 15 percent “who appear to have been wrecked by the recession.” (Emphasis in the original). The former category includes those in poor financial shape who have suffered a major decline in their standard of living, even if they believe it to be temporary. The latter comprises workers who are in poor financial shape, have suffered a major decline in lifestyle and believe the new state of affairs to be permanent.

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

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12/06/2011 08:16 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Prosecuting Wall Street, pt. 1
[link to www.cbsnews.com]

RoXY (OP)

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12/06/2011 09:20 AM
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Implosion of Contemporary Capitalism: Audacity, More Audacity in Formulating an Alternative to the Existing System.
by Samir Amin
December 6, 2011

The historical circumstances created by the implosion of contemporary capitalism requires the radical left, in the North as well as the South, to be bold in formulating its political alternative to the existing system. The purpose of this paper is to show why audacity is required and what it means.

Why Audacity?
1. Contemporary capitalism is a capitalism of generalized monopolies. By this I mean that monopolies are now no longer islands (albeit important) in a sea of other still relatively autonomous companies, but are an integrated system. Therefore, these monopolies now tightly control all the systems of production. Small and medium enterprises, and even the large corporations that are not strictly speaking oligopolies are locked in a network of control put in place by the monopolies. Their degree of autonomy has shrunk to the point that they are nothing more than subcontractors of the monopolies.

This system of generalized monopolies is the product of a new phase of centralization of capital in the countries of the Triad (the United States, Western and Central Europe, and Japan) that took place during the 1980s and 1990s.

The generalized monopolies now dominate the world economy. ‘Globalization’ is the name they have given to the set of demands by which they exert their control over the productive systems of the periphery of global capitalism (the world beyond the partners of the triad). It is nothing other than a new stage of imperialism.

2. The capitalism of generalized and globalized monopolies is a system that guarantees these monopolies a monopoly rent levied on the mass of surplus value (transformed into profits) that capital extracts from the exploitation of labour. To the extent that these monopolies are operating in the peripheries of the global system, monopoly rent is imperialist rent. The process of capital accumulation – that defines capitalism in all its successive historical forms – is therefore driven by the maximization of monopoly/imperialist rent seeking.

This shift in the centre of gravity of the accumulation of capital is the source of the continuous concentration of income and wealth to the benefit of the monopolies, largely monopolized by the oligarchies (‘plutocracies’) that govern oligopolistic groups at the expense of the remuneration of labour and even the remuneration of non-monopolistic capital.

3. This imbalance in continued growth is itself, in turn, the source of the financialization of the economic system. By this I mean that a growing portion of the surplus cannot be invested in the expansion and deepening of systems of production and therefore the ‘financial investment’ of this excessive surplus becomes the only option for continued accumulation under the control of the monopolies.

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

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12/06/2011 10:36 PM
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Global Financial Collapse: What makes it tick?
06 December, 2011

The mind becomes confused and dismayed when confronted with chaotic situations it can hardly figure out - situations such as today’s Global Financial Woes. Maybe we’re looking too close-up. Let’s take a step back and look again...

Complexity is often engineered into what are basically simple problems by people who benefit from manufactured complications and have the power to control them. When money is involved, the powerful people who benefit from ripping off untold millions of hard workers make sure that their “money machine” will just keep steaming ahead. Take the ongoing Global Financial Crisis.

Firstly, it is not a “crisis” at all: what the world is confronted with today is a full-fledged, irreversible and unsustainable Global Financial Collapse that, if not properly addressed, may bring down the whole global economy with it.

Secondly, this has pushed the Real Economy into a “crisis” from which, if proper measures are taken, it can – and must! – be saved.Because all national economies are basically intact (although many have been badly clobbered!) they can be brought back to health.

Thirdly, the real core of today’s problem is that Finance – that virtual world of banking, fractional lending, usury compound interest, fraudulent derivatives, casino-like speculative “investments” and other parasitic and anti-social activities – has illegitimately risen above the Real Economy which is the world of work, production, manufacturing, effort, toil, sweat and creativity.

In numbers, we see that today Finance has grown to be 20, perhaps 30 times larger than the Real Economy.

CONTINUE AT: [link to rt.com]

RoXY (OP)

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12/07/2011 12:40 AM
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George Soros: Global Financial System In 'Self-Reinforcing Process Of Disintegration'
by: Bonnie Kavoussi
12/ 5/11

Billionaire investor George Soros says that the global financial system is on the brink of collapse.

Developed countries are falling into a "deflationary debt trap," in which consumer spending falls, products become more expensive, tax revenues drop, and sovereign debt grows, Soros said last week, according to the Wall Street Journal. As a result, he said, the global financial system is in a "self-reinforcing process of disintegration."

"The consequences could be quite disastrous," Soros, who was born in Hungary, said at the tenth anniversary of the International Senior Lawyers Project.

Concern is mounting that the eurozone may break up because of market pressure on European sovereign debt, which could plunge Europe into a depression and the world into a recession. Observers are already worried that Europe could suffer a recession and subsequent slow growth for several years even if it averts a eurozone breakup, since products would remain expensive in the euro, making consumers more hesitant to buy them and forcing governments to curtail budgets even more as consumer spending falls.

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

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12/08/2011 04:27 PM
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An idiot’s overview of why Western capitalism is crashing
By Alan Hart

The idiot of the headline is me in the sense that I am not an economist and have never had any formal association with study of the theory and practise of economics, but… I began to understand why what is today called Western capitalism was bound to crash way back in the early 1970’s when I was researching and producing an epic documentary on the everyday reality of global poverty and its implications for all.

When I reflected on what I had witnessed and learned while researching in 120 countries (as well as at the World Bank and many UN agencies) and filming in 69 of them, I let commonsense be my guide. It led me to the conclusion that capitalism was not of itself the problem. It was the short-sighted and stupid way Western capitalism was managed.

Now I’ll put some flesh on that bone.

CONTINUE AT: [link to www.opinion-maker.org]
RoXY (OP)

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12/08/2011 04:45 PM
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US adds more billion-dollar disasters to 2011 list
By Miguel Llanos, msnbc.com

Just last August the federal officials who track weather disasters said 2011 would go down as a record year with 9 events topping $1 billion in damages. On Wednesday, those same authorities upped the number to 12 events - totalling $52 billion in damages - and said there's still a chance for one or two more to be added to the list.

"In my weather career spanning four decades, I've never seen a year quite like 2011 ... record-breaking extremes of nearly every conceivable type of weather," National Weather Service Director Jack Hayes said in a statement accompanying the new figures.

CONTINUE AT: [link to usnews.msnbc.msn.com]
RoXY (OP)

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12/08/2011 04:57 PM
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Pulling Back the Curtain on the Wall Street Money Machine
December 7, 2011
by Ellen Brown

On November 27, Bloomberg News reported the results of its successful case to force the Federal Reserve to reveal the lending details of its 2008-09 bank bailout. Bloomberg reported that by March 2009, the Fed had committed $7.77 trillion in below-market loans and guarantees to rescuing the financial system; and that these nearly interest-free loans came without strings attached.

The Fed insisted that the loans were repaid and there have been no losses, but the Bloomberg report said the banks reaped a $13 billion windfall in profits; and “details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.”

The revelations provoked shock and outrage among commentators. But in a letter to the leaders of the House and Senate Committees focused on the financial services industry, Fed Chairman Ben Bernanke responded on December 6th that the figures were greatly exaggerated. He said the loans were being double-counted: short-term loans rolled over from day to day were counted as separate cumulative loans rather than as a single extended loan.

The Fed, it seems, was doing only what banks and the money market do for each other every day: making “liquidity” available at very low interest rates. In 2008, bank liquidity dried up after Lehman Brothers collapsed, and the banks could not get the cheap, ready credit on which their lending scheme depends. The Fed then stepped in as “lender of last resort,” doing what it had to do to keep the banking scheme going.

CONTINUE AT: [link to webofdebt.wordpress.com]
RoXY (OP)

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12/09/2011 05:19 AM
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County Unemployment Rate 1990-2011




Unemployment Map
Continue here: [link to www.latoyaegwuekwe.com]
Anonymous Coward
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Australia
12/09/2011 05:35 AM
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01:45

BULLSHIT! There is no such thing as corporate income taxes. That is because companies merely pass their tax "expense" onto their customers/consumers.
 Quoting: SmartestOne


Actually a products price may contain the estimated tax a company will pay but not all of the costs incurred in running a business will be necessarily passed on to consumers. Companies hate taxes as much as citizens but receive far fewer benefits.
RoXY (OP)

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12/09/2011 01:12 PM
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Demise of the Euro: Part of a Long-term Plan for a Global "Super-currency" controlled by the Banksters
by Adrian Salbuchi
December 9, 2011
[link to rt.com]

Efforts by European leaders to shoe-horn a range of diverse countries into a rigid financial cage are doomed to fail. But that’s all part of a long-term plan for a global super-currency which can only bring more hardship to ordinary working people.

A question that more and more people are asking nowadays is, “What on Earth were the Europeans thinking when they agreed to have just one currency for all of Europe?”

In Greek mythology, Procrustes was the son of Poseidon, God of the deep blue seas. He built an iron bed of a size that suited him, and then forced everybody who passed by his abode to lie on it. If the passerby was shorter than his bed, then Procrustes would stretch him, breaking bones, tendons and sinews until the victim fitted; if he was taller, then Procrustes would chop off feet and limbs until the victim was the “right” size…

This ancient story of “one size fits all” seems to have made its 21st Century comeback when Europeans were coaxed into imposing upon themselves an oxymoron; a blatant and conceptual contradiction they call “the euro”.

This common supranational currency invented by the French and Germans, boycotted by the UK, ignored by the Swiss, managed by the Germans and accepted by the rest of Europe in blissful ignorance, has finally dropped its mask to reveal its ugly face: an impossible mechanism that only serves the elite bankers but not the working people.

It masked gross contradictions as large, far-reaching and varied as the relative sizes, strengths, profiles, styles, histories, econometrics, labor policies, pension plans, industries, and human and natural resources of the 17 Eurozone nations, ranging from Germany and France at one end of the scale, to Greece, Portugal and Ireland at the other.

As we said in a recent article, the euro carries an expiry date; perhaps the eurocrats who were its midwives a decade ago expected that it would live a little longer, maybe even come of age… But they certainly knew that, sooner or later, the euro would die; that it was meant to die.

Because the euro is not an end in itself, but rather a transition, a bridge, an experiment in supranational currency earmarked for replacement by a far more ambitious and powerful global currency issued by a global central bank, controlled by a cabal of global private bankers, obeying a New World Order blueprint emanating from a private Global Power Elite.

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

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12/10/2011 05:09 AM
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'Cameron Is a Coward' - European Politicians Slam British EU Veto
By Veit Medick and Annett Meiritz
12/09/2011

British Prime Minister David Cameron is happy not to be in the euro.

Following David Cameron's veto of EU treaty reform, there is plenty of frustration in Europe over Britain's stubborn attitude in the battle against the debt crisis. Prominent members of the European Parliament have strongly criticized the British prime minister and sent him a clear message: Europe doesn't need you.

It is an irony of history - on this very day 20 years ago, the Maastricht Treaty was signed, bringing the European Union into existence. On Dec. 9 and 10, 1991, the 12 leaders of the European Community agreed to the groundbreaking agreement and a historic project was set on its way.

Two decades on, and with the European debt crisis in full flow, the EU is facing its toughest test so far. Now one person stands out as the most divisive figure: David Cameron. Following marathon talks on Thursday night, the British prime minister vetoed a change in the EU treaties as called for by German Chancellor Angela Merkel and French President Nicolas Sarkozy.

Cameron's use of his veto has provided for much discontent within the European Parliament. "It was a mistake to admit the British into the European Union," said Alexander Graf Lambsdorff, a prominent German MEP with the business-friendly Free Democrats, and vice chair of ALDE, the liberal block in the European Parliament. The UK must now renegotiate its relationship with the EU, he said. "Either they do it by themselves, or the EU will be founded anew -- without Great Britain," Lambsdorff said. "Switzerland is also a possible role model for the British," he added, refering to the fiercely independent stance of the Alpine country, which is not an EU member.

CONTINUE AT: [link to www.spiegel.de]
RoXY (OP)

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12/10/2011 02:11 PM
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The Financial Crisis Was Entirely Foreseeable
by Washington's Blog
December 10, 2011

Foreseeable or Not?
I noted in April: Whenever there is a disaster, those responsible claim it was “unforeseeable” so as to escape blame.

For example:

It happened with 9/11

It happened with the BP oil spill (see this, this, this, this and this)

It happened with the Japanese nuclear accident

The big boys gamble with our lives and our livelihoods, because they make a killing by taking huge risks and cutting costs. And when things inevitably go South, they aren’t held responsible (other than a slap on the wrist), and may even be bailed out by the government.

But surely the financial crisis was different. After all, Wall Street executives and politicians say that the financial crisis wasn’t foreseeable. And see this.

Actually, it might have been slightly foreseeable for a little while before the financial crisis.

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

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12/12/2011 01:25 PM
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The Derivative Debt Bubble: "Ghost Financial Assets" and the Widespread Discounting of Western Public Debt - $30 trillion in ghost assets will disappear by 2013...
by Global Europe Anticipation Bulletin (GEAB)
December 12, 2011

As we come to the end of the second half of 2011, it is evident that 15,000 billion in ghost assets have gone up in smoke since last July, just as was anticipated by LEAP/E2020 (GEAB N°56 ). And, according to our team, this process figures to continue at the same rate throughout the year to come. Indeed we estimate that, with the introduction of a 50% discount on Greek government debt, the global systemic crisis has entered a new phase: that of the generalized discount on Western public debt and its corollary, the fragmentation of the global financial markets. Our team believes that 2012 will bring an average discount of 30% of total Western public debt (1), plus an equivalent amount in loss of assets from the balance sheets of worldwide financial institutions. Specifically, LEAP/E2020 anticipates the loss of 30,000 billion ghost assets by early 2013 (2), with an acceleration in 2012 of the partitioning process of the global financial market (3) into three increasingly disconnected currency areas: Dollar, Euro, and Yuan. These two phenomena feed into each other. They will also be the cause of a sharp decline of 30% on the part of US currency in 2012 (4), as we announced last April (GEAB N°54 ), which will occur amidst a sharp reduction in demand for the US dollar and the worsening of the US governmental debt crisis. The end of 2011 will therefore see, as anticipated, the trigger of the European debt crisis detonating a US bomb.

In this GEAB N°59 we will analyze in detail this new phase of the crisis as well as the deepening US debt crisis. Moreover, we will begin to present, as indicated in previous GEABs, our forecasts about the future of the United States between 2012 and 2016 (5) starting with a fundamental aspect of Euro-US relations (and more generally the global system that has been in place since 1945), namely the strategic and military relations between the US and Europe. We have estimated that by 2017 the last US soldier will have left European continental soil. Finally, LEAP/E2020 will present its recommendations, dealing this month with currency, gold, capital-based pensions, the financial sector, and commodities.

In this public announcement we have chosen to present the various elements that will determine the next escalation of the US debt crisis, while taking stock of the October EU summit and the Cannes G20 summit.

As anticipated by LEAP/E2020 for several months, the G20 summit in Cannes turned out to be a resounding failure, resulting in no significant measures, and demonstrating an incapability of addressing the issues of change in the international financial system, global economic recovery, or reform of global governance. If the Greek question took center stage during the summit, it is partly because the latter was lacking in content to begin with. George Papandreou enabled the G20 leaders to carry on “as if” Greek affairs had interrupted their work (6), when in fact the Greek crisis allowed them to disguise their inability to craft a common agenda.

Meanwhile, the decisions of the EU summit in the week before the Cannes summit have pointed to the official emergence of Euroland (with now two fixed summits each year) (7), the primacy of which will confer de facto decision-making authority within the EU (8). The pressure from this crisis has, in the last few days, helped to build the capacities of Euroland policies, putting it on the path to greater integration (9), a prerequisite to any positive developments towards a post-crisis world (10).

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

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12/12/2011 01:29 PM
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Doomed to Fail: Wrecking Europe's Monetary System to Fix It
by Stephen Lendman
December 12, 2011

From its inception, the Eurozone monetary union was an idea doomed to fail. Nonetheless, it was engineered fraudulently to look workable.

In 1979, Europe's Exchange Rate Mechanism (ERM) was introduced as part of the European Monetary System (EMS) to propel the continent to one European currency unit (ECU).

ERM never worked. ECU is failing. At issue is duplicity, conflicts of interest, and uniting 17 dissimilar countries under rigid euro straightjacket rules. Doing so usurps their monetary and fiscal autonomy disastrously.

Nonetheless, banking giants partnered with EU, ECB and IMF Troika power decide everything. Policies require lowering living standards, sacking public workers, and selling off state assets lock, stock and barrel at fire sale prices.

Today, the euro corpse only awaits its obituary to be written. Successive bailouts and fixes haven't worked. Troubled Eurozone economies are drowning in debt. Adding more makes bad conditions worse.

So do forced austerity measures, layoffs, and higher working household taxes. Lost purchasing power means less spending, fewer jobs, and greater public anger than today's high levels.

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

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12/12/2011 01:42 PM
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Max Keiser: Crazy Cameron suicidal with knife in Euro gunfight!



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