Category Archives: Coup d’etat in America
Let Them Eat Credit
By most counts, the U.S. economy started growing in the middle of last year. For many Americans, though, it does not feel as if the Great Recession has ended—unemployment and underemployment are still alarmingly high, and job growth is weak. … Continue reading
Great-est Depression???
This forecaster is saying something that I thought was just common sense and I mentioned a year ago or more. That is to say, without a vibrant middle class to effect the necessary 70 % consumption that represented the bulk … Continue reading
Collapse?
Taleb Says Government Bonds to Collapse, Avoid Stocks – Bloomberg Nassim Nicholas Taleb, who warned that unforeseen events can roil markets in “The Black Swan,” said he is “betting on the collapse of government bonds” and that investors should avoid … Continue reading
Howdy, Neighbor!
When asked what advice he would give to residents of Ashtabula County Ohio because of cutbacks in official law enforcement budgets, Judge Alfred Mackey said they should: “arm themselves. Be very careful, be vigilant, get in touch with your neighbors, … Continue reading
The Furrows of Algeria: The First Great Novel About Islamism
From the terrible Algerian slaughter, and its terrible silence, comes this small tale, told by an officer of the special forces who broke with “Le Pouvoir” of his own country and sought asylum in France. It is the autumn of … Continue reading
Does It Make Sense to Resurrect the Glass-Steagall Act?
In the present system, the more unrestricted the banks are, the more money they can generate “out of thin air,” and the more damage they can inflict upon the wealth-generation process. FULL ARTICLE by Frank Shostak
What they knew and when they knew it
“I have to think this train is probably going to leave the station soon and we need to focus our efforts on explaining the story as best we can. There were too many people involved in the deals — too … Continue reading
Ron Paul: The American Cicero
Let’s hope he doesn’t end up the same way: “Could it all be a bad dream, or a nightmare? Is it my imagination, or have we lost our minds? It’s surreal; it’s just not believable. A grand absurdity; a great … Continue reading
Mr Obama, you are no FDR
….the rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by … Continue reading
Sic transit America?
Flagging: a US sailor stands on the flight deck of the aircraft carrier USS George Washington If a week is a long time in politics, a decade is starting to look like an age in geopolitics. Comparing the America that … Continue reading
Perpetual War
Strategerizing: Military intellectuals envision a 50-year “Long War” against al Qaeda consisting of counterinsurgency operations spanning Iraq, Afghanistan, Pakistan, the Horn of Africa, the Philippines and beyond, Tom Hayden discusses in The Nation. “Comparing al Qaeda in AfPak to al … Continue reading
Public Trust has Economic Consequences
Public trust has economic consequences, by Howard Davies, Commentary, Project Syndicate: Public trust in financial institutions, and in the authorities that are supposed to regulate them, was an early casualty of the financial crisis. That is hardly surprising, as previously … Continue reading
I guess the government can say anything…and most people believe it!
Washington Post Crashed-and-Burned-and-Smoking Watch: …[The Washington Posts's] Fred Hiatt this morning: Re-Stimulating. Unemployment is bad. More fiscal debt might be worse: At 9.8 percent, the unemployment rate is higher than it has been since it hit 10.1 percent in June … Continue reading
Goldman’s Pre-emptive Influence
An Inside Look at How Goldman Sachs Lobbies the Senate, by Matt Taibbi: …Later on this week I have a story coming out in Rolling Stone that looks at the history of the Bear Stearns and Lehman Brothers collapses. The … Continue reading
Rushing to the Exits?
Bottom Line. The Fed is moving toward the exit as they look toward the conclusion of their securities purchases programs. But it is not clear that such a move is justified by their own forecasts or the inflation/wage/employment data. There … Continue reading
It’s Unemployment, Stupid!
Pittsburgh protesters demand G20 do more for jobs Forbes “We’re not going to accept a jobless recovery,” said Larry Adams, a postal worker who came from Jersey City, New Jersey, for the protest. …
Socialism in America
Socialism in America A great deal has been made in recent weeks about Ronald Reagan‘s critique of nationalized or socialized health care from 1961: We can go back a bit further, though, and take a look at an intriguing piece … Continue reading
The Quiet Coup
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs … Continue reading
Capitalism, Jewish Achievement, and the Israel Test
srael has become one of the most important economies in the world, and is second only to the United States in its pioneering of technologies benefitting human life, prosperity, and peace. Like the Jews throughout history, Israel poses a test … Continue reading
“Increasingly, the determination of when to default is not guided by the moral question: Is this the right thing to do? It is guided by the pragmatic concern: Am I too far underwater on my mortgage?”
Walking Away When You Can Pay By Kelsey VanOverloop Homeowners are turning to the “strategic default” — walking away from a mortgage even when there are funds available to keep paying. “Increasingly, the determination of when to default is not … Continue reading
Obama’s Squandered Stimulus Plan
To promote car sales and home buying, Congress could have provided temporary but generous tax breaks. It didn’t. The housing tax credit applied to a fraction of first-time buyers; the car tax break permitted federal tax deductions for state sales … Continue reading
9 Reasons We Are Cooked
We are now looking at unemployment numbers that undermine any confidence that we might be nearing the bottom of the recession. The appropriate metaphor is not the green shoots of new growth. A better image is to look at the … Continue reading
Barney Frank, Chris Dodd Do Banking Back Flip
July 15 (Bloomberg) — Congress can’t make up its mind. First, legislators pushed to let banks take a rosy view of the value of some hard-hit holdings. Now, two key committee chairmen claim banks aren’t being realistic enough about the … Continue reading
Prima Donnas of the Banking World
William White predicted the approaching financial crisis years before 2007′s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy. William White had a pretty clear idea of … Continue reading
The Committee to Defraud the World
To say now that ‘No one knew’ or ‘I was mistaken’ or ‘I was just doing as I was told’ is another in a series of lies and deceptions that have supported one of the greatest frauds in the history … Continue reading →