Al-USA

Why Is Barney Frank Allowing Lobbyists to Gut Financial Reform?

Good article Mr. Harrison. The mainstream media will not go near the topics you discuss and as such, you provide a valuable service.

Perkins' 'Hoodwinked' Offers Solutions to the Economic Crisis

One thing stuck with me in the interview, "...it's no different to how the mob operates..." in reference to how the IMF loans money to third world countries with the intent to get them overleveraged and sell their assets on the cheap. This is the role of the economic hitmen.

If the hitmen fail at corrupting the elites of a particular third world country, then the "jackals" come in and either assassinate the elites or overthrow the third world government. However, sometimes even the jackals fail, so in that case the American ruling class uses American youth or USA army, to go in and do the dirty work of these evil capitalists.

A modern example which elucidates the fundamental nature of USA capitalism is Honduras, where deeply flawed elections were set up to try and legitimize the coup leaders in their overthrow of the democratically elected President of that country. These crooked elections were set up at the behest and support of the "socialist" President Obama.

Even with all these facts staring you in the face there will still be those who are in love with the propaganda "kool aide", like ilc, who will continue to maintain that the third world continues to be poor and anti-capitalist b/c they earned it by not producing as much as USA capitalism... Hahaha The blinders some people maintain is funny, unless they do it purposely in the attempt to convince others to sip of the same "kool-aide" and turn a "blind eye" to the fundamental nature of American and indeed, Western capitalism.

Basically we live under a system ruled by evil creatures which enrich themselves at the expense of the masses in third world countries. And the worst part, as ilc has alluded to, is that this system is now being implemented in the USA. Plundering the third world was not enough, now the American people itself must be plundered, as the $trillions in bailouts to the Financial Oligarchy shows, to maintain the profits of these evil creatures at the top of the economic ladder.

Good video, and good book, thanks for bringing it to the attention of readers.

'Matt Taibbi: Obama's 'Big Sellout' To Wall Street'
therealnews.com/t2/com...

"Widely-celebrated, US-brokered agreement looks to have strengthened coup instead of reversing it "
therealnews.com/t2/ind...

The Lords of Finance: No Noblesse Oblige

These "influential circles" can only continue to exist as long as they are perceived to be a legitimate part of society. The American masses are not fools, they now they were looted by the $trillions in bailouts and the legitimacy of these "influential circles", for these and other transgressions, is increasingly in doubt. I have found this to be true across the board from the highly educated to the cleaning lady...

Besides that, we have a President, who campaigned on "change", but is increasing the number of troops for the two wars and was influential in setting up deeply flawed election in Honduras to "legitimize" the military coup which ousted a democratically elected President in that country. These "influential circles" see nothing wrong with destroying democracy in a once democratic state, and, as such, one wonders what are they then capable of in regards to what remains of American democracy. In other words, extreme social inequality is incompatible with Democracy and indeed, with capitalism. Although, with regards to capitalism, the road the super-elites will likely follow is the road to fascism if democracy gets in the way of increasing their wealth and pursuing their interests.

A clear example of that was the invasion of France by the Nazis during WWII. The capitalist elites had no qualms about abandoning the fight for democracy and instead acted to secure their own wealth and interests under state controlled capitalism or fascism,
under the Vichy regime regime that was beholden to the Nazis capitalists.

At their core, people are not bad, and they don't won't to be ruled by perceived evil elites...

The World's Largest Guilt Trip

Way to go, Chris Coonan, excellent comments.

What Will the U.S. Economy Look Like in 10 Years? Look to Greece

Greece was the source of Western Civilization, and civilized thousands of years ago when ALL of what is know western Europe where running around in rags of skin... Add to that recently living under the rule of Islamic Turkish overlords for hundreds of years well, yes, I'm sure a crisis of capitalism is something that the populace can imagine a way out of: with or without capitalism, as astute readers know.

Trade Desk Thoughts: Hedge the Drop

Well, I was short expecting a drop, not in particular one related to the resumption, if such is occurring, of the financial crisis, but via my own market model. Nothing works all the time, but it looks like I will be enjoying this drop and will probably get a HUGE % return with my options spread.

As i write futures are 1074.7 1:31 EST, but I'm in CA so it's still early here.

The New Normal Could Be That Way for a While

Excellent article, Mr. Corson. You are the only author which I have come across in SA which touches on some of the fundamental issues behind the economic crisis. I believe there is yet more story to be told, related to the fundamental nature of capital, but I have decided to address that later.

Another Crisis Looms Right Around the Corner

bob adamson wrote:
"
As a foreign observer of the US scene, however, I find it regrettable that I appear to have more faith than some US citizens in the capacity of the US and its people to work together to find a way forward through the current difficulties. This was done during the Depression and WW II and other past crises and there is no reason to think it can’t be done now.
"

One can not place faith upon the elites running the USA, Mr. Adamson, simply because it is the elites themselves that caused the "financial crisis" which has now precipitated into an economic crisis for the masses of the American working/middle class.

You see, the American working/middle class has been gutted and will continue to be gutted, as per the design of the capitalist elites way back in the passage of GATT in 1994, and perhaps earlier. As is apparent now, the process of capitalist globalization was the beginning of the end for the relatively high living standards of the American masses.

Of course, the absence of increasing wages, relative to inflation, was substituted for a time by the introduction of massive credit, or debt. But the limit of credit or debt, to substitute for the lack of rising wages during the boom period of capital from roughly 1982 to 2000 has now been reached; with the inevitable crisis of capitalism, or crisis of over-production.

But don't take my word for it, get it from one disgruntled billionaire elite, privy to the plans of this elite class, years ago, when, in 1994, he said publicly that globalization would result in reduction of wages, benefits, mass unemployment and soon, increased taxes on the masses of the working/middle class.

This elite, billionaire Sir James Goldsmith laid it all out to Charlie Rose in a 1994 video, titled,

"1994 Globalization Warning"
solari.com/blog/?p=3309

This is the establishment, aka Financial Oligarchy, corrupt capitalist elites, and their political cronies, against everybody else, but principally against the American masses.

Now, a conscious policy decision was set in motion, at least as far back as 1994, to increase the profits of the capitalist elites with the purposeful end game result of persistent mass unemployment, after the massive debt/credit (which substituted for the absence of wages to increase, after inflation) was maxed out.

If you care to see how this parasitic elite class thinks of the rest of us, take a few minutes to see the 1994 video below. I could summarize in text, but getting it from the elite himself is most informative.

"1994 Globalization Warning"
solari.com/blog/?p=3309

Unemployment Claims: Best Data We've Seen in a Long Time

James Carlini said:
"
The middleclass has been gutted and I don't see the other sectors - government, teachers, unions being able to take up the slack.
"

Yes, the working/middle class has been and will continue to be gutted, as per the design of the capitalist elites, way back in the passage of GATT in 1994, and perhaps earlier. But, as is apparent now, certainly the process of capitalist globalization was the beginning of the end for the relatively high living standards of the American masses. Of course, the absence of increasing wages, relative to inflation, was substituted for a time by the introduction of massive credit, or debt. But the limit to credit or debt, to substitute for the lack of rising wages during the boom period of capital from roughly 1982 to 2000 has now been reached; with the inevitable crisis of capitalism, or crisis of over-production.

But don't take my word for it, get it from one disgruntled billionaire elite, privy to the plans of this elite class, years ago, when, in 1994, he said publicly that globalization would result in reduction in wages, benefits, mass unemployment and soon, increased taxes on the masses of the working/middle class.

This elite, billionaire Sir James Goldsmith laid it all out to Charlie Rose in a 1994 video, titled,

"1994 Globalization Warning"
solari.com/blog/?p=3309

This is the establishment, aka Financial Oligarchy, corrupt capitalist elites, and their political cronies, against everybody else, but principally against the American masses.

Now, a conscious policy decision was set in motion, at least as far back as 1994, to increase the profits of the capitalist elites with the purposeful end game result of persistent mass unemployment, after the massive debt/credit (which substituted for the absence of wages to increase, after inflation) was maxed out.

If you care to see how this parasitic elite class thinks of the rest of us, take a few minutes to see the 1994 video below. I could summarize in text, but getting it from the elite himself is most informative.

"1994 Globalization Warning"
solari.com/blog/?p=3309

Structural Unemployment: The Only Cure

Part of the problem is that people like john s. gordon have bought the propaganda spin "hook line and sinker"...

Mr. Gordon, this was planned by the elites years ago, in fact, a disgruntled billionaire elite, said it publicly that globalization would result in reduction in wages, benefits, mass unemployment and soon, increased taxes on the masses of the working/middle class.

This elite, billionaire Sir James Goldsmith laid it all out to Charlie Rose in a 1994 video, titled,

"1994 Globalization Warning"
solari.com/blog/?p=3309

This is the establishment, aka Financial Oligarchy, corrupt capitalist elites, and their political cronies, against everybody else, but principally against the American masses.

Now, a conscious policy decision was set in motion, at least as far back as 1994, to increase the profits of the capitalist elites with the purposeful end game result of persistent mass unemployment, after the massive debt/credit used to substitute for the absence of wages to increase, after inflation, was maxed out, And you think that education is the problem? Mr. Gordon, you have a fundamental failure to see the "big" picture but, if you care to remedy your deficit, take a few minutes to see the 1994 video below. I could summarize in text, but getting it from the elite himself is most informative.

"1994 Globalization Warning"
solari.com/blog/?p=3309

After one watches the video, a few conclusions can be made, principally among them is, of what use is this economic model of capitalism, where the profits flow, per design, to the capitalist elites, while at the same time causing massive structural unemployment for the American masses. Of what use is economic growth that merely enriches the few rich and politically connected while bringing destitution to an increasing number of Americans?

How Will the Recession Affect Long-Term Consumer Behavior?

We need to have the American masses partake of the increases in productivity during the last few decades, starting from the 1980's. Census data indicates that the median wage of American workers saw no increase, relative to inflation, during the boom period of capital, 1980's to 2000.

In an environment where massive credit, or debt was used to substitute for missing increases in median wages, it's no surprise the savings rate went down.

Now, having seen the "real" face of capital, the masses are running scared from the reduction in wages, reduced benefits and soon, increased taxes. The attack on the living standards of the remaining workers no doubt "sharpen" them up some, survival is at stake... Anyways, those suffering from decreasing living standards are the lucky ones, the rest, which according to U6 figures is around 18% unemployed, well, being destitute does somewhat crimped your ability to "save".

Other than that, "party" on Wall Street!

BLS: Mass Layoffs Continue to Reign

Of course mass layoffs continue to "reign".

High unemployment is in fact a deliberate policy of the Obama administration, which is seeking to drive down the conditions of the working/middle class in order to restore profitability of American companies. I mean, the Man has rejected any serious jobs program or further stimulus measures so it is, in my opinion, an obvious administration policy goal.

Roubini on Unemployment: 'The Worst Is Yet to Come'

Teutonic Knight wrote:
"
For now, tighten up our belts, lower wages and salaries, then we could become once again competitive.
"

You mean for the overpaid CEO's right?

Thought so...

Food Insecurity: Another Measure of Economic Distress Skyrockets

Daniel, you are incorrect. I also come from an immigrant family who managed to raise me and 3 siblings on one income more than 25 years ago...

However during the last 25 years (can go as far back as 30) median wages have not kept up with inflation. Needless to say, food, a commodity, has gone up much more than inflation. Also during the last 25 years more of the cost of health care has been shifted onto the "back" of the working/middle class. So, for the last 25 years, reduced wages, reduced benefits, and now, with the still developing Greater Depression, in my opinion, millions have been sacked, millions more remained with reduced hours, and further reductions in benefits, if they exist at all.

Barack Obama is qutoed as saying this report is "unsettling". Actually, I find it embarrassing. I am embarrassed that this is international news in the supposed most advanced and civilized nation in the history of the world... right, one by one the contradictions of capitalism, as it is practiced in the USA, are becoming glaringly difficult to ignore.

For the record, I am a capitalist and benefit from it but I'm not blind nor do I ignore its contradictions.

Chance of a Depression Now 5 Percent

Actually, I think it was a good and honest article by Mr. DeLong. When and if it hits, I belive it is mostly here already, in California, don't forget to be charitable to those in need, since those still able to invest would probably make out the best.

Good luck to all.