… Are what again? As the following graphic from IBD demonstrates, for the first time in history, a majority of jobless workers over 25 have attended some college, and now outnumber those without a job who simply have a high school diploma or less. But at least those in the fomer category have tens of thousands of non-dischargeable debt to show for it.
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.. Are what again? As the following graphic from IBD demonstrates, for the first time in history, a majority of jobless workers over 25 have attended some college, and now outnumber those without a job who simply have a high school diploma or less. But at least those in the fomer category have tens of thousands of non-dischargeable debt to show for it.
Newsletter writer “Reinhardt” joins me for his first public appearance anywhere. Concerned with the Enron debacle, Reinhardt discovered a repeated pattern of industrial and political corruption over history that applies to critical issues of today.
Starting in 1993, Reinhardt began a person business journal. Its was a journal of things that just did not seem right in the world of high finance. In the process of keeping a journal he learned what to pay attention to and why to pay attention to it. He looked at media, political, and business propaganda from a different perspective. He noticed which events got the most airtime were never the most important. It was always the under-reported events which were most important.” Reinhard thew away his history books as he studied booms and busts going as far back as 4000 BC. Reinhardt has applied that knowledge and critical thinking approach to his ongoing analysis of current events.
Enron . Tyco . 2008 Market Crash . Military movement provide cheap labor for trade routes . Dutch Settlement Scheme . Emmegration . Special Interest . Long View . Critical Thinking . Overview . modern silk road . northern distribution network . world trade . military use of trade routes . military industrial complex . corporate imperative . Afghanistan . US military . war . The fallacy of Adam Smith . the fallacy of ideology . the fallacy of free markets . government involvement in industry . trends in labor value . dutch east india company . socialism communism . divide and conquer . totalitarianism in our fascist regime . think tanks . loss of control
Phi Beta Iota: An extraordinary contribution by Warren Pollock and his guest “Reinhardt” of Newsweek. Tip of the Hat to Josh Kilbourn for the pointer.
The US financial system and, probably, the financial system of Europe, like the police, no longer serves a useful social purpose.
In the US the police have proven themselves to be a greater threat to public safety than private sector criminals. I just googled “police brutality” and up came 183,000,000 results. (Here are two recent brutal assaults, one deadly, by police on hapless individuals: http://latimesblogs.latimes.com/lanow/2012/05/kelly-thomas-video-dad-they-are-killing-me-.html and http://www.informationclearinghouse.info/article31364.htm )
The cost to society of the private financial system is even higher. Writing in CounterPunch (May 18), Rob Urie reports that two years ago Andrew Haldane, executive Director for Financial Stability at the Bank of England (the UK’s version of the Federal Reserve) said that the financial crisis, now four years old, will in the end cost the world economy between $60 trillion and $200 trillion in lost GDP. If Urie’s report is correct, this is an astonishing admission from a member of the ruling elite. http://www.counterpunch.org/2012/05/18/the-true-costs-of-bank-crises/print
Try to get your mind around these figures. The US GDP, the largest in the world, is about 15 trillion. What Haldane is telling us is that the financial crisis will end up costing the world lost real income between 4 and 13 times the size of the current Gross Domestic Product of the United States. This could turn out to be an optimistic forecast.
In the end, the financial crisis could destroy Western civilization.
This adds to the Sears-sized catalog of particularly vile predations the rich ruling class – in the form of private equity investors – imposes on the poor in order to grab every penny and every buck. In this case, they are causing innocent children much physical suffering through fraudulent means. By buying off North Carolina politicians to the tune of at least $1 million, they will most certainly get their way unless there is a public outcry:
“Hedge funds in America have backed several dental practices, and Medicaid and parents allege that this has led to a rash of “dental abuse” of poor children, who are seen by dentists at school, without parental consent, for invasive and painful (and expensive) procedures performed by dentists. Critics say the dentists have to meet quotas in order to attain the valuations set by the private equity funds who call the shots. A North Carolina bill aimed at fighting this practice is being fought by three funds (Leonard Green, Court Square Capital Partners, and Levine Leichtman Capital Partners) who've raised $1.1 million to kill it.”
This car runs on the ultimate emissions-free fuel: air.
In 2007, Mumbai, India-based Tata Motors signed a licensing deal with Motor Development International, a French design firm. The idea was to build a car that could run on compressed air. Now Tata says it has tested two cars with the engines. The next step is setting up the manufacturing plants to actually build them.
Without a government for the last eleven days, and amid mainstream discussion of a Euro Zone exit, the Greek people are realizing that the economic and political system as they know it is rapidly descending into chaos.
With massive jobless rates that have forced many into bartering to survive, and facing credit destruction across the entirety of the country that has led to shortages of critical supplies like life saving medicines, those with any money left at national banks are taking the desperate step of withdrawing as much of their savings as they can from a banking system on its last leg.
This is what it looks like when a populace plagued with uncertainty finally loses trust in the credibility of their country’s leadership and financial system.
WATCH THIS. 12 year old Canadian girl on banksters and debt
This little girl is simply amazing. She must have some pretty awesome parents. In a concise and clear way she explains the problem of national debt in language that anyone can understand.
