sunnsea

10 Reasons to Believe That We're in a Depression

It would have been better, in retrospect, to have Palin as President and Gramm as Treasury Sec so that the Depression would occur full bore without any dancing around and full pain for everyone, not just the middle class. Then from the true wreckage of a false and fraudulent financial services economy and its limo-driver two political parties,a strong progressive leader would emerge with programs ready to be put in place on Day One in 2012: re-institute Glass-Steagall, restart manufacturing via machine tools, increase tariffs on goods from low-wage countries (EU, Japan, South Korea, Taiwan: no tariffs), end corporate tax exemptions on profits earned on foreign operations, large banks broken up, phase out the Federal Reserve, increase funding for creating worker-owned enterprises, institute a single-payer health care system.

Unfortunately, Obama was elected in the wrong place and time. (It's still only 1930 on the year-to-year comparison with the GD, so instead of Palin/Hoover, we have Carter/Obama) So we will have to live through at least 2016 before the final collapse occurs and then the true progressive era can begin, assuming he does not get re-elected.


On Nov 20 08:57 AM Tom B wrote:

> AND Obama has to show SOME positive improvement in the economy by
> next November or he could lose seats in the House and Senate-- nevermind
> the whole deprsesion is "W's" fault; people have short memories.
> So far, we have lots of stim, money spent with NO really obvious
> results--employment still sucks and that's the biggest number in
> people's consciousness.

Beware the Current Bull Market in Derivatives

Here we go again. Sorry for all who thought it was safe to go back in the water.

Obama’s Financial Regulation Proposal: The Devil Is in the Details

This is simply our global creditors imposing discipline on us, the borrowers, for messing up and deceiving them for the past 30 years and for ignoring or repealing our own sound laws like Glass-Steagall. They are trying to keep us from going completely bankrupt. Bottomline: No more SUVs and 4X4 s for suburban cowboys!

Top 12 Indicators That the Economy Is Still Bad

Because the bubble was even greater than in 1929, then the collapse will be worse and the response has to be more drastic. Basically, you can't worry about your carpets getting wet if the house is burning down and the firemen are trying to put out the fire..


On Jun 18 06:53 AM Peter Cooper wrote:

> If you want the Macro picture of global output and trade have a look
> at these charts which overlay the position today onto the 1930s:
>
> arabianmoney.net/2009/.../
>
> The deficits are bigger than in the 30s and the decline in trade
> is steeper - watch out below!

America: The Land of the Fleece Scam

As long as we do not insist on reviving Glass-Stegall and separate banks from the financial markets, we will be in continuing peril. They have been and will continue to use Fed and taxpayer money to play the market and little else.