Categories: Economy and Finance, Editor’s Choice, PerspectivesIf the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately.(Read more…) … Read More
Officials’ Bright New Idea: Fighting Terrorists By Taking Away Trash Cans
Indianapolis
reacts to the Boston bombing:
The Indiana Pacers, after consulting with the
Department of Homeland Security, will remove all trash cans outside
of Bankers Life Fieldhouse for all events, said Greg Schenkel, vice
president of public relations for the Pacers.
It’s the athletic equivalent of making people take off their
shoes before they get on a plane, and it’s a lousy idea for pretty
much ;the same
reason.
[Hat tip: Brian Retz.] … Read More
The Truthseeker: Looting Of America (E12)
http://www.youtube.com/v/v-r0U-pbdiU?version=3&f=videos&app=youtube_gdata See the original post: The Truthseeker: Looting Of America (E12)
How rich “moochers” hurt America
In a previous column detailing the true “makers” and “takers” in America, I argued that the greatest threat to American capitalism today comes not from public taxation supporting public programs, but from “private taxation” in the form of excessive private “rents” that subsidize private sector parasites or “rentiers” (like landlords, lenders and providers of health insurance and healthcare). These excessive private taxes or rents are costs on productive enterprise that can be as crippling as excessive public taxation.In American politics as in the American economy, power and wealth have shifted from the industrial capitalists of old to the “rent lords” of the early 21st century, based in the overgrown FIRE (finance, insurance, real estate) sector. The agenda of the new rentier oligarchy in the U.S. is quite different from that of traditional productive businesses. The Rentier Agenda consists of low taxes on rentiers, the privatization of infrastructure and social insurance, and a macroeconomic policy that favors creditors rather than debtors, including debtor businesses and debtor governments.Continue Reading… … Read More
The debt bomb just got bigger
All pretense is now gone that central or global bankers can’securitize’ growth by packaging and repackaging debt; byhypothicating and rehypothicating debt; by regulating andrergulating debt. Since the bond market rally began in the early1980s (yes, it’s that old) each crisis has been met by central andglobal bankers – the IMF, EU and ECB, to name a few – and theirWall St. and City of London brethren with an increase in debt, andan extension of the debt’s maturity. The result has been – as of 2007 – the biggest mountain ofon-balance sheet and off-balance sheet debt in history: Astaggering $220 trillion in debt in America’s $14-trillion economyalone (when you include all public, private and contingentliabilities of unfunded entitlement programs). Deals in the globaldebt derivatives market now stand in excess of $1 quadrillion,riding above a global GDP of approximately $60 trillion.But starting in 2007, and then becoming spectacularly apparentin 2008 with the Lehman collapse, the ability of the world’staxpayers to pay either the interest or principal on this debt hashit a brick wall. And for several years now, governments around theworld have tried the same old tricks of ‘extend and pretend.’Repackage and extend the maturity, and pray that tax receipts startpicking up enough to pay some of the debt off. It didn’t work. Thedebt bomb just got bigger. Now in Cyprus we see the inevitable nextphase: Confiscation.To pay off the debts that were incurred to finance the biggestwealth grab in history, we see in Cyprus, as well as central andglobal banking institutions around the world, a trend to just reachin and grab people’s money from their ‘insured’ bank accounts. Weshould have figured out this was coming when JP Morgan (read: JamieDimon) reached in and illegally stepped ahead of customers at MFGlobal and grabbed over $1 billion, with the help of his crony palJon Corzine.Have we learned our lesson yet? They have more debts to pay thanthere is money in all the bank accounts in the world. This meansthat chances are, you – whoever you are, and whatever country youlive in – will have a sizable percent of your savings stolen bybanksters.Since the crisis hit (and for several years leading up to it)we’ve been recommending on ‘Keiser Report’ to put as much money asyou can in gold and silver. Our advice then and now is: The onlymoney you should keep in a bank is money you’re willing tolose. … Read More
Nets Beat Pacers 89-84 In Overtime: Brook Lopez Scores 25, Joe Johnson Adds 17 (VIDEO)
INDIANAPOLIS — Brook Lopez scored 25 points and Brooklyn opened the overtime session on a 9-3 run to pull away from Indiana 89-84 on Monday night.
The Nets (30-22) ended a five-game losing streak at Bankers Life Fieldhouse and won for just the second time in six games overall despite playing without injured guard Deron Williams. Joe Johnson added 17 points, and Reggie Evans had eight points and 22 rebounds.
Nigel Farage: Democracy and Self-Government now Staging a Fightback. "Sous titre FR"
http://www.youtube.com/v/Q3LMjQ2rc-0?version=3&f=videos&app=youtube_gdata Source: Nigel Farage: Democracy and Self-Government now Staging a Fightback. "Sous titre FR"
