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Alternative Visions – Central Banks, Negative Rates, and the Growing Fragile Global Economy – 02.12.16

Jack reviews US Federal Reserve Chair, Janet Yellen’s, testimony to Congress this past week. Her overestimation of the health of the US economy and underestimation of the crisis in the global economy are noted, and special attention given to her statement that ‘negative interest rates’ are being prepared for in the US. The logic behind the $6 trillion in negative rates to date in Europe and Japan is debunked. And the negative consequences for the global economy from negative rates are explained. Central banks have gone too far, too long and are now trapped by their own policies, making the global economy worse by the day. Jack reviews evidence of the banking system beginning to crack in Europe (key banks there in trouble) and provides a summary of the ‘global financial fault lines’ from chapter 11 of his recent book, ‘Systemic Fragility in the Global Economy’, and his take on the most vulnerable financial markets. Also addressed is why the US working class is orienting toward Trump (45-54 age group) and Sanders (18-34) with serious implications for the Democrat and Republican establishments.

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Joseph Stiglitz – What’s Holding Back the World Economy?

Seven years after the global financial crisis erupted in 2008, the world economy continued to stumble in 2015. According to the United Nations’ report World Economic Situation and Prospects 2016, the average growth rate in developed economies has declined by more than 54% since the crisis. An estimated 44 million people are unemployed in developed countries, about 12 million more than …

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Progressive Commentary Hour – 02.09.16

Prof. Laurence Shoup is a historian who has been researching the background and agendas of the Council on Foreign Relations for 40 years. He has taught history, social science and international relations at the University of Illinois, San Francisco State University and other institutions. For five decades Dr. Shoup has been active in human rights struggles, protesting the Vietnam War, marching with Martin Luther King and participating in the union movement. He holds degrees from California State University and a doctorate from Northwestern University. He ran as a Green Party candidate in the city of Oakland and California state and has consulted for many nonprofit organizations. Laurence has written five books, his most recent being “Wall Street’s Think Tank: The Council on Foreign Relations and the Empire of Neoliberal Geopolitics 1976-2014” His website is www.LaurenceShoup.com

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Trends This Week – Market correction or Market Crash? – 01.20.16

Gerald Celente breaks down how the talking airheads on business broadcast media keep missing the larger picture of crumbling worldwide economies and the undeniable underlying factors that ultimately will determine economic fate and your bottom line. While future quantitative easing measures or other central bank interventions may temporarily pause the sharp declines in markets worldwide, Global recession and even depression in some countries are unavoidable. Celente tells you what you need to know now.

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The Gary Null Show – 01.12.16

Dr. Jack Rasmus is a professor of political economics at St. Mary’s College and Santa Clara University in California. Prior to teaching, he was an economic analyst for several global corporations and an organizer, negotiator and business representative for several labor unions. At one time he was elected at the National First Vice President of the National Writers Union. In addition to his economic profession, Dr. Rasmus is a playwright and author of fictional works dealing with social struggles, and the owner of Kyklos Productions. He is the author of several books, most recent being “Systemic Fragility in the Global Economy” which explores why mainstream economic analysis repeatedly fails and why we have been incapable of producing a sustainable recovery and economy. Jack also hosts a radio program “Alternative Visions” on the Progressive Radio Network every Friday at 3 pm Eastern time. His website is JackRasmus.com

Here were some of the topics Gary and Jack spoke about:

Bank holdings of derivatives – 247 Trillion total – vs. actual assets
Law approving bail-ins – this was warmed about back in 2013 thanks banks could grab deposits without warning in order to blunt future failures
There have been reports that governments and central banks want to move towards a cashless society. Why is this being pushed by central banks and is it even possible (an article in May’s issue of MIT’s Technology Review claims it would not be possible)
What is government NOT doing to spur economic recovery and establish a new course towards growth?
BOOK: “Systemic Fragility in the Global Economy”

RADIO PROGRAM: “Alternative Visions” on the Progressive Radio Network every Friday at 3 pm Eastern time.

WEBSITE: JackRasmus.com

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Peter Koenig – Are EU Country Central Banks “Illegally” Buying Government Bonds?

The following text is an English transcript (translation) of an RT Berlin Interview in German regarding an apparent secret agreement between the European Central Bank (ECB) and individual Euro countries’ central banks issuing large amounts of government bonds. The discovery flared up just before the FED raised its base interest rate by a quarter percent on 16 December 2015, signalling the …

OFR-Financial-Stability-Monitor

Treasury Now Has Color-Coded Financial Terror Alerts By Pam Martens and Russ Martens

Remember when the Department of Homeland Security was issuing those color-coded terrorist alerts? Well, they don’t do that anymore.  They’re back to using plain ole black-and-white words to describe threats. Apparently, however, the U.S. Treasury’s Office of Financial Research (OFR) thought it was such a cool idea that they’ve started color-coding threats to our financial security from the denizens on Wall …

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The Collapse Of The Petrodollar: Oil Exporters Are Dumping US Assets At A Record Pace – Tyler Durden

Back in November we chronicled the (quiet) death of the Petrodollar, the system that has buttressed USD hegemony for decades by ensuring that oil producers recycled their dollar proceeds into still more USD assets creating a very convenient (if your printing press mints dollars) self-fulfilling prophecy that has effectively underwritten the dollar’s reserve status in the post WWII era. Here’s what we …

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Stock market rigging is no longer a ‘conspiracy theory’

The stock market is rigged. When I started making that claim years ago — and provided solid evidence — people scoffed. Some called it a conspiracy theory, tinfoil hats and that sort of stuff. Most people just ignored me. But that’s not happening anymore. The dirty secret is out. With stock prices rushing far ahead of economic reality over the …

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The IMF Proposes “Global Wealth Confiscation”. The Appropriation of Household Savings

As first reported by Forbes, the International Monetary Fund (IMF) dropped a bomb in its October Fiscal Monitor Report.  The report paints a dire picture for high-debt nations that fail to aggressively “mobilize domestic revenue,” which is code for “aggressively tax its citizens.”  It goes on to build a case for drastic measures and recommends a series of escalating income and …