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Alternative Visions – Global Currency Wars & Devaluations Poised to Accelerate in 2016 – 12.04.15

Jack Rasmus looks at yesterday’s decision by the European Central Bank to make token changes to its QE policies, Japan’s central bank rumors of more QE, and the US Federal Reserve’s imminent raising of interest rates later this month. Why the ECB did not go ‘all in’ to expand its QE? Reasons: waiting on US Fed to move first, weaken German opposition to a later big QE boost, and ‘holding its powder’ for possible worse deflation and EU economy in 2016. Japan waiting on both US and Europe. Meanwhile, US Fed caves in to political moves by Congress attacking it. Conclusion: more QE in 2016, more currency devaluation, more pain in emerging markets and slowing of US exports and manufacturing, and China need to devaluate further next year. Recent economic news of importance is reviewed: oil price glut to continue despite Vienna OPEC meeting; China’s Yuan approved by IMF as global currency, and Brazil’s economy now tipping over into depression. Jack concludes with latest review of US economic performance: manufacturing and exports contracting, business inventories excess and spending, US residential housing growth now spent and flattening, poor Xmas retail sales emerging, auto sales based on debt reaching peak, savings from gasoline price declines diverting to rents, education and health care price increases, and now service sector growth slowing rapidly. Next Week show theme: ‘Systemic Fragility in the Global Economy, Part 1’, as Jack reviews conclusions of his just published book.

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It’s Our Money with Ellen Brown – Is Your Money Better Off in a Mattress? – 11.25.15

As European central banks employ negative interest rates (you pay the bank to keep your money) as well as all-digital currencies that give bankers virtually complete control over your access to it, this question is not silly. What are the bankers really up to? Ellen speaks with co-host Walt McRee about these developments and then talks with evolutionary economist and world-renowned futurist Hazel Henderson about how far afield economics has gone from its practical obligations to serve public interest. Matt Stannard discusses banker logic and negative interest, and common logic about the need for a basic income for everyone.