UPDATE: I was not happy with these, the first one got a lot of views, the other two did not, so I have removed them. Instead I recommend the below mid-1990's condensation of my 1976 thesis.
Learn more:
NIGHTWATCH: Financial Crisis Now a Crisis of Fundamentals
03 Economy, 07 Other Atrocities, 10 Transnational Crime, 11 Society, Budgets & Funding, Civil Society, Collective Intelligence, Commerce, Commercial Intelligence, Corporations, Corruption, Cultural Intelligence, General Accountability Office, Government, Key Players, Law Enforcement, Misinformation & Propaganda, Money, Banks & Concentrated Wealth, Office of Management and Budget, Power Behind-the-Scenes/Special Interests, Secrecy & Politics of SecrecyEurope: Updates. In an interview with a French daily on 25 December, International Monetary Fund (IMF) Managing Director Christine Lagarde stressed that Europe's financial crisis is turning into “a crisis of confidence in public debt and the solidity of the financial system.
Greece: According to an IMF source involved in discussions with Greece, the situation in Athens is “deteriorating” and “a further 10-15 billion euros ($13.1-19.6 billion) still needs to be found.” Banks may be asked to agree to write off 65 % instead of 50% of Greece's debt.
France: The French National Institute for Statistics and Economic Studies (INSEE) said on 26 December that there were 29,000 new job seekers “without any occupation” in November, up 1.1% over October. The year-on-year increase reached 5.2%. In total, 2,844,800 people did not have any occupation, the highest such figure since November 1999.
An economist at the French Observatory of Economic Conditions speculated that France's unemployment rate — which currently stands at 9.3% — will reach 10.7% by the end of 2012, and predicted that Paris will not succeed in bringing the deficit down to 3% of GDP by 2013.
Spain: At a news conference on 26 December, Spanish Economy Minister Luis De Guindos said that the Spanish economy had suffered a “relapse” and would record negative growth in the fourth quarter of 2011. De Guindos warned that “the next two months are not going to be easy, neither from a growth nor a jobs point of view.”
Comment: According to the Financial Times and multiple economists the fate of the euro depends on what happens in Italy. This week Italy intends to auction bonds worth Euros 20 billion. The market reaction to the auction will be an important indicator of whether the central bankers have found a way to stabilize the financial crisis, or have just made it worse.
All analysts of European economics predict a recession in 2012. They differ only about how severe it will be. In an integrated global economy, the ripple effects from Europe will drag the US and the Chinese economies, among all others.
Phi Beta Iota: Christine Lagarde, perhaps because she is a woman with a smaller ego and larger intuition than most men, appears to be the first Epoch A leader to “get” that we are all calling into question the very existence of the Western financial system that is rooted in fraud, waste, and abuse. When she begins to point to Iceland as an example, and to demand that Western countries arrest and try Goldman Sachs, Morgan, Citi-Bank, Bank of America, and other officials for high crimes against the public, the healing can begin. Until then, the West is avoiding the fundamentals.
See Also:
Mini-Me: Iceland Breaks the Back of Western Banking
Chuck Spinney: Financial Coups Destroying Europe
Marcus Aurelius: Last Word on Iraq – in Pictures
04 Inter-State Conflict, 05 Civil War, 07 Other Atrocities, 08 Wild Cards, Budgets & Funding, Corruption, Government, Military, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests
The last word — as with Viet-Nam, we did not lose the battles…
See Also: Iraq (48 Reviews)
And Especially:
Review: We Meant Well – How I Helped Lose the Battle for the Hearts and Minds of the Iraqi People
Review: Grand Theft Pentagon–Tales of Corruption and Profiteering in the War on Terror
Review: The Occupation of Iraq: Winning the War, Losing the Peace
Review: Losing the Golden Hour–An Insider’s View of Iraq’s Reconstruction
Worth a Look: Book Reviews on War Complex—War as a Racket
Charles Faddis: Governor Buddy Roemer Merits a Look..
Budgets & Funding, Civil Society, Corporations, Corruption, Cultural Intelligence, Government, Methods & Process, Money, Banks & Concentrated Wealth, Movies, Policies, Policy, Power Behind-the-Scenes/Special Interests, Threats
Governor Buddy Roemer merits a look.
Buddy Roemer is a candidate for the Republican nomination for president. He served in Congress from 1981-88 as one of the last truly conservative Democrats who crossed the aisle to back the Reagan agenda. He later was governor of Louisiana and switched party affiliation to the GOP. A longtime business executive, Mr. Roemer founded and was CEO of Business First Bank, a small community lender with $650 million is assets.
Memorable Line: “I'm a Methodist boy, and I believe in miracles.”
Memorable Line: “I want Washington DC to stop being the capital for corruption.”
Josh Kilbourn: Endgame – 2012 Forecast [W.E. Pollock]
01 Agriculture, 03 Economy, 07 Health, 09 Justice, 10 Security, 11 Society, 12 Water, Analysis, Budgets & Funding, Civil Society, Commerce, Corporations, Corruption, Cultural Intelligence, General Accountability Office, Government, IO Deeds of War, Money, Banks & Concentrated Wealth, Office of Management and Budget, Power Behind-the-Scenes/Special Interests, Threats, Waste (materials, food, etc)We are going to move from denial to realization. Physical world events will drive the process of realization. The primary trend is between stability and instability. We are moving from a multi-class system running from Super Elite to Unperson into a model of have's and have-nots, the unpersons. Labor has become a problem because less than 500 million are involved in life support activities thereby leaving more than 7 billion people very vulnerable to dependency (and treated as expendable containers). We are watching a redistribution process bound towards divestiture as more people become unpersons. Destruction of paper assets, debt collapse, bank failure, and war are all part of the redistribution process. With more unpeople, it becomes easier to reduce population through death and abuse. Our current economic structure has at least six trajectories of support; the physical world, human capital, transportation, technology, rule of law,and money.
Fukishima, Katrina, Gulf of Mexico oil spill — all examples of entire populations treated as “unpersons.”
See Also:
John Bogle: ENOUGH – Speculation Bad Investment Good
03 Economy, 07 Other Atrocities, 09 Justice, 10 Transnational Crime, Civil Society, Commerce, Commercial Intelligence, Corporations, Corruption, Government, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests
MARK JEWELL
Associated Press, 22 December 2011
EXTRACTS:
Bogle says he's paying close attention to tax policies he considers unfair, including one that's favorable to the fund industry and investors with taxable accounts. The top rate for dividends and long-term capital gains is historically low at 15 percent, as a result of the extension of Bush era tax cuts that Congress and President Barack Obama agreed to a year ago. In contrast, top earners pay 35 percent on regular income. He doesn't like that disparity.
. . . . . . .
As for capital gains, there ought to be some distinction between capital made by people who start businesses, and contribute value to society, and capital made by gamblers on Wall Street, some of whom win. Earned capital income should carry the regular dividend rate, but capital income gains by trading, and particularly short-term trading, should pay a higher tax, even than the present ordinary income rate.
. . . . . . .
Q: What's your take on the Occupy movement?
A: I'm happy to say that my current income puts me in the 99 percent group. So maybe I'm not so happy, I don't know.
This movement has brought to the surface some very serious problems in our country about disparities in opportunity and income. So many young people are having a terrible time getting a job.
Young people have great idealism, and the Occupy movement has been a bit unrealistic at times. So what? I can't imagine a worse America if our younger generation didn't have great idealism. I salute them for their enthusiasm, and their mission.
The negative side is that they just pushed too hard for too long. It's very difficult for any movement without any seeming leadership — other than a good idea — to have any sense of taste or judgment. Who's to say, ‘This is going too far'? In some places, it's just gone on too long, and it's been too disruptive. So I think it's good that we've been cleaning up the plazas where the Occupy movement set up.
See Also (Steele Reviews in Each Case):
John Bogle, The Battle for the Soul of Capitalism
William Greider, The Soul of Capitalism: Opening Paths to a Moral Economy
Matt Taibbi, Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History
Reform Coalition: “True Cost” Economics & Genuine Progress + True Cost RECAP
03 Economy, 07 Other Atrocities, 11 Society, Analysis, Blog Wisdom, Budgets & Funding, Civil Society, Commerce, Corruption, Earth Intelligence, Ethics, General Accountability Office, Money, Banks & Concentrated Wealth, Office of Management and Budget, Politics of Science & Science of Politics, Power Behind-the-Scenes/Special Interests
Definition of ‘True Cost Economics'
An economic model that seeks to include the cost of negative externalities into the pricing of goods and services. Supporters of this type of economic system feel products and activities that direct or indirectly cause harmful consequences to living beings and/or the environment should be accordingly taxed to reflect the somewhat hidden costs.
Continue reading “Reform Coalition: “True Cost” Economics & Genuine Progress + True Cost RECAP”
