Recovery or collapse? Bet on collapse
The US financial system and, probably, the financial system of Europe, like the police, no longer serves a useful social purpose. Continue reading →
View ArticleFacebook SOBs or . . . ‘don’t cry for me, Avaritia’
The sobs we have in mind are neither short, audible gasps of breath of those who are invested in Facebook stock, nor are they intended as a bastardly reference of those who, inside and/or outside of...
View ArticleCollapse at hand
Ever since the beginning of the financial crisis and quantitative easing, the question has been before us: How can the Federal Reserve maintain zero interest rates for banks and negative real interest...
View ArticleWhy the Senate won’t touch Jamie Dimon: The JPM derivatives propping up U.S....
When Jamie Dimon, CEO of JPMorgan Chase Bank, appeared before the Senate Banking Committee on June 13, he was wearing cufflinks bearing the presidential seal. “Was Dimon trying to send any particular...
View Article$4 trillion conflict of interest: Investment bankers on Fed boards
Who else but Independent Vermont Senator Bernie Sanders would have the courage to blow the whistle on the $4 trillion Fed scam involving near zero-interest Federal Reserve loans and other financial...
View ArticleGeithner and Bernanke demand mega-bailout of Europe
Shades of the 2008 Hank Paulson, three-page ransom note to the Treasury for a $700 billion bailout for banks or the world economy would collapse. This time the LaRouche Political Action Committee...
View ArticleBanking on zeros
I was just on Press TV with Gabriel Talmain, professor of economics, and Shabbir Razvi, economist. Both men are based in London, a fact that explains a linguistic mishap I had that was baffling,...
View ArticleFixing the mortgage mess: The game-changing implications of Bain v. MERS
Two landmark developments on August 16 give momentum to the growing interest of cities and counties in addressing the mortgage crisis using eminent domain. Continue reading →
View ArticleThe economic religion of finance capital
The Virgin birth. The Chosen People. The resurrection of the dead. The free market. Continue reading →
View ArticleThe myth that Japan is broke: The world’s largest ‘debtor’ is now the world’s...
In an April 2012 article in Forbes, titled “If Japan Is Broke, How Is It Bailing Out Europe?,” Eamonn Fingleton pointed out the Japanese government was by far the largest single non-eurozone...
View ArticleThe fiscal cliff is a diversion: The derivatives tsunami and the dollar bubble
The “fiscal cliff” is another hoax designed to shift the attention of policymakers, the media, and the attentive public, if any, from huge problems to small ones. Continue reading →
View ArticlePolitical football over disaster relief: Another argument for public banking
In a shameless display of putting politics before human needs, Congress began 2013 still scrapping over a $60 billion Hurricane Sandy relief bill fully nine weeks after the disaster hit. And if the...
View ArticleWill Obama’s choice for Treasury secretary work for Wall Street or Main Street?
First of all, who is Jack Lew, nominated for Treasury secretary by Barack Obama? He’s a Citibank alumnus, a former White House budget director, under Clinton and Obama, then became Obama’s chief of...
View ArticleThe incredible debt spider
The “Federal Reserve Bank” (Fed) is not part of the United States Government. The Fed is a private, for-profit corporation ultimately owned by eight elite banking families. Continue reading →
View ArticleThe economic religion of finance capital
The Virgin birth. The Chosen people. The Resurrection of the dead. The Free Market. Which of those is unsupported by material evidence but exists by virtue of practice based on fervent, coerced, or...
View ArticleWould it be fair to restore the tax rates of big business and the rich back...
This question is one of the most relevant questions that could be posed to US citizens and their elected representatives, which, if answered correctly, could possibly restore the fiscal health and...
View ArticleInternet and sales’ taxes dialectic
Before you panic that your online purchases will be tagged with the added cost of state sales tax, rely on the complexity of reporting sales to all the jurisdictions as your prime safeguard from...
View ArticleHow DC’s political intelligence biz made fat cats fatter
Looking over the last few weeks of news, if you would seek a single headline that sums up the Hulk-like grip in which corporate America holds the US Congress, this might be it: “Eric Cantor’s Loss a...
View ArticleThe looming foreclosure crisis: As the Fed runs out of bullets, local...
Former Assistant Treasury Secretary Paul Craig Roberts wrote last month that real US GDP growth for the first quarter of 2014 was a negative 2.9%, off by 5.5% from the positive 2.6% predicted by...
View ArticleCry for Argentina: Fiscal mismanagement, odious debt or pillage?
Argentina was the richest country in Latin America before decades of neoliberal and IMF-imposed economic policies drowned it in debt. A severe crisis in 2001 plunged it into the largest sovereign debt...
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