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179 posts tagged economics
Michael Maloney: “We Pay Tax For The Privilege To Have Currency”
Inside Job
Documentary
‘Inside Job’ provides a comprehensive analysis of the global financial crisis of 2008, which at a cost of over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia.
Since then the U.S. national debt has doubled, pledging future production of social security card holders to paper mache over the gaping holes in our economy. The financial terrorists responsible have not had to admit wrong doing, have not gone to jail, and continue to control all branches of our government and collect record setting bonuses as the middle and lower classes are left for dead.
Too smart for his own good, this article was written in prison. My kind of financial genius.
“Last week, the Federal Reserve was finally forced by law to release some (not all) of the details of its back-door bailout of the global financial system. The Fed data focuses on the emergency lending programs initiated in 2007/2008, but it also includes data for the Fed’s more recent purchases of mortgage-backed securities (MBS). These later purchases represent the real risk for taxpayers in the Fed’s continuing bailout activities, but have received the least coverage in the mainstream press.
The Fed data supports our long-held contention that the Congressionally-approved and much despised $700 billion Troubled Asset Relief Program (TARP) was only a small fraction of the total bailout. By our count, and as we illustrate above, TARP funds were a mere seven percent of total funds disbursed by federal government to aid the financial sector since 2007. Why does this matter? Because the more we focus on the much-despised TARP, the less we see the invisible hand of the Fed doing the heavy lifting.” - Mary Bottari | Quietly Ticking Time Bomb in Fed Data
While you were arguing if not using condoms is rape or not, this has been going on…
The Secret of Oz
The Truth Behind The Modern Financial System, And The Money-Political Complex
“As America reaches its two year anniversary from the immediate economic collapse that followed the Lehman bankruptcy, punctuated mostly by vast and broad layoffs across every industry, arguably the most relevant topic that few are so far discussing is the expiration of full 99 weeks of maximum claims (EUC + Extended Benefits) for cohort after cohort of laid off Americans. And since these people are certainly not finding jobs in the broader labor market (which continues to contract and thus make the unemployment percentage far better optically than the 10%+ where U-3 should be), their next natural response will be to get very angry at the teat that has suckled them for so long, and is now forcing them to go cold turkey. Which is why we read with little surprise that now in Indiana, and soon everywhere else, unemployment offices are starting to add armed security guards. Of course, the official explanation is a benign one: “Armed security guards will be on hand at 36 unemployment offices around Indiana in what state officials said is a step to improve safety and make branch security more consistent.” Why the need to improve safety all of a sudden? The 99 weeks cliff of course. Which means that on your next trek to the unemployment office to collect that last stimulus paycheck from Uncle Sam, you will most likely see the masked fellow above.” - Tyler Durden | ZeroHedge
What the Europeans are doing places the sanity/fear rally in perspective. If you’re sane in the USA, you’re outraged, furious, horrified & revolted. It doesn’t mean standing politely between the barricades at the Mall and listening to rock bands & platitudes.
via buffleheadcabin
Source buffleheadcabin
Reblogged from buffleheadcabin
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Determinist heuristics (aka monetary mechanics) makes living quite easy - one merely needs to evaluate the present stage in the current cycle and make appropriate plans. We are at the end of the last great inflationary cycle - deflation is the outcome, whether or not it is first preceded by hyper-inflation (monetary destruction).
Has anyone recently stepped away and noticed the debate no longer concerns itself with regard to whether or not we are in an “economic recovery”? What does this tell you? It should tell you that the resumption of organic credit growth is not occurring. And why is this? Some may say it’s because debt levels are too high, but in reality, it’s because mankind doesn’t have sufficient sources of cheap, available energy in which to push global productivity up unto an entirely higher plateau.
So why get excited? Do you get up in the morning and jump up & down about the fact that you’re going to die some day? No, you go about your business of living today with knowledge of that fact securely tucked away in the recesses of your mind. Well, the system we are currently living in is dying - even as I type.
Here’s a word of advice: drop the emotional aspect and confront reality head-on. Your survival plans are dependent on your ability to deal with the fact that the Fed era is ending. And perhaps the current state of the federal US gov’t as well.
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Just in case you were interested in MONEY, I personally have given up on it.
Future Chaos: There is no “Plan B” | Chris Martenson
U.S. is currency war’s “tomb maker”: China economist | Reuters
Jim Rickards On The Last Gasp Of The Fiat Money Regime | KingWorldNews
The Next Steps for the “Fraudclosure” Scandal | Janet Tavakoli
Source dubstepfriday
Reblogged from dubstepfriday
“Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing …”
(via quotingthecrisis)
Source ritholtz.com
Reblogged from quotingthecrisis
