Posts Tagged financial crisis
Fears of A Second Crash Are Real: Congress Lacks The Appetite for Action…
on 06/03/2010 (2 weeks ago) by NW0.eu in Finance and Corruption, Comments (0)
What will it take? What are they waiting for? What part of the reality of a systemic crisis that will get worse don’t they get?
How is it possible that after near three years of economic turmoil, with possibly hundreds of TRILLIONs down the rabbit hole — not that anyone is counting or apparently can count — that the geniuses who run our economy still don’t “get” that the sh*t has already hit the fan? How many more jobs and homes have to be lost?
Michael Moore is not the only one predicting a second crash. Paul Krugman is all out words excoriating the Administration for its tepidness. Nouriel Roubini, who forecast the first meltdown, now says we are in serious danger of a “double-dip,” a lethal combo of rising inflation and deeper recession.
Woe to us if we can’t see the handwriting on so many walls.
The people in the know know that nothing has been fixed, know that all the stimuli have barely stimulated, that the new jobs bill will never generate the number of jobs that are needed, and that the banks have obscenely been raking in oodles of money thanks to all the financing taxpayers pumped into their coffers.
Even as the Obamaites finally get around to proposing a measure to break up the big banks and erode the notion of financial institutions being too big to fail, we have the New York Times telling us that Congress does not have the “appetite” — that’s the word they use — to tackle even modest financial reforms.
Obama Gets Visited by Ghosts of Presidents Past
on 04/03/2010 (2 weeks ago) by NW0.eu in Politics, Comments (0)
This is pretty cool if you have been a fan of the history of Saturday Night Live and the actors who played the presidents. Sadly, Phil Hartman who did the best television Reagan ever (among other great things) is no longer with us, so they called in someone else to fill his shoes.
There’s actually a message at the end of the video … enjoy (the video was directed by Ron Howard):
Representative Marcy Kaptur Chews Up Tiny Tim Geithner And Spits Him Out
on 02/02/2010 by NW0.eu in Finance and Corruption, Comments Off
Via YouTube:
As The U.S. Congress Travels More and More, The Public Pays
on 18/12/2009 by NW0.eu in Finance and Corruption, Comments Off
BRODY MULLINS and T. W. FARNAM write in the Wall Street Journal:
EDINBURGH — The expenses racked up by U.S. lawmakers traveling here for a conference last month included one for the “control room.”
Besides rooms for sleeping, the 12 members of the House of Representatives rented their hotel’s fireplace-equipped presidential suite and two adjacent rooms. The hotel cleared out the beds and in their place set up a bar, a snack room and office space. The three extra rooms — stocked with liquor, Coors beer, chips and salsa, sandwiches, Mrs. Fields cookies and York Peppermint Patties — cost a total of about $1,500 a night. They were rented for five nights.
While in Scotland, the House members toured historic buildings. Some shopped for Scotch whisky and visited the hotel spa. They capped the…
Financial Reform Bill Highlights the Need for Real Reform
on 15/12/2009 by NW0.eu in Finance and Corruption, Comments Off
Mark Trumbull writes in the Christian Science Monitor:
The US House of Representatives on Friday passed a bill aimed at preventing a repeat of the financial crisis that shook the global economy in the fall of 2008. The sweeping measure would transform the regulatory landscape for banks and other financial firms.
Although it drew immediate praise from the Obama administration and consumer groups, some financial experts warn that the economy will remain exposed to the risk of bubbles, busts, and firms that are “too big to fail.”
It’s what this bill cannot do that should be of concern to all Americans:
Economists are wary of saying that even a well-designed bill will prevent financial crises, which have occurred periodically before and after the modern era of central banking.
Simon Johnson, a finance expert at the Massachusetts Institute of Technology, recently praised Obama for pushing the idea of a new consumer protection agency for financial products. But, in recent testimony to the Congressional Oversight Panel on bank bailouts, he said Washington policymakers aren’t doing enough to rein in the economic and political power of large financial firms.
“The power of the financial sector [is based] on an ideology according to which the interests of big finance and the [supposed] interests of the American people are naturally aligned,” he said. “This ideology is increasingly … dangerous to the economy.”
California to Withhold a Bigger Chunk of Paychecks
on 02/11/2009 by NW0.eu in World News, Comments Off
‘Reporting from Los Angeles and Sacramento – Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners — holding back 10% more than it already does in […]
Breaking Up The Too Big to Fails Will NOT Harm America’s Ability to Compete with Foreign Banks
on by NW0.eu in Finance and Corruption, Comments Off
Washington’s Blog Sunday, Nov 1st, 2009 I have previously debunked numerous false arguments used to defend the too big to fails. See this and this. But the apologists for the […]
Stiglitz Says U.S. Recession ‘Nowhere Near’ End After GDP Jump
on by NW0.eu in Finance and Corruption, Comments Off
Bob Willis Bloomberg Sunday, Nov 1st, 2009 Nobel Prize-winning economist Joseph E. Stiglitz said the U.S. recession is “nowhere near” an end and the economy’s third-quarter growth rate of 3.5 […]
The Collapse of Detroit: Ground Zero for the Globalist’s Deindustrialization Agenda
on by NW0.eu in Finance and Corruption, Comments Off
Aaron DykesInfowarsOctober 31, 2009 “Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about?” – Maurice Strong, 1992 It’s a […]
Ron Paul: Be Prepared for the Worst
on by NW0.eu in Finance and Corruption, Comments Off
Ron Paul Forbes November 1, 2009 The large-scale government intervention in the economy is going to end badly. I am reminded of the outlook in 1930, when the experts were […]
Government Is Trying to Make Bailouts for the Giant Banks PERMANENT
on 29/10/2009 by NW0.eu in Finance and Corruption, Comments Off
As the Washington Independent points out, Sherman is going to try to take Tarp off of steroids.
Extending jobless benefits clears Senate hurdle
on 28/10/2009 by NW0.eu in Finance and Corruption, Comments Off
The Senate agreed on an 87-13 procedural vote to bring the measure to a final vote, killing a Republican filibuster that had delayed action for more than a week.
If the bill is approved by both chambers on Capitol Hill and is signed by the president, those who cannot find work would be eligible for a maximum of 99 weeks of benefits.
Surge in Children Taken Into Care as Recession Stress Takes Toll on Parents
on 19/10/2009 by NW0.eu in World News, Comments Off
‘The recession is being blamed for a massive surge in the number of children being placed in care. Fostering agencies say that local authorities are making record numbers of referrals, […]
U.S. must live within its means: Geithner
on 18/10/2009 by NW0.eu in Finance and Corruption, Comments Off
Glenn Somerville and Walter Brandimarte Reuters Sunday, Oct 18th, 2009 The United States must live within its means once its economy recovers if it is to preserve global confidence in […]
Tax raid on banks planned by ministers
on by NW0.eu in Finance and Corruption, Comments Off
Patrick Hennessy and Louise Armitstead London Telegraph Sunday, Oct 18th, 2009 Ministers are drawing up plans for a tax raid on Britain’s banks worth hundreds of millions of pounds, The […]
