In East Texas, members of the Tar Sands Blockade started their eleventh week of opposition to construction of the Keystone XL Pipeline with a new act of civil disobedience against the onrush of global warming, sealing themselves inside a mile-long segment of the pipeline itself. In Doha, Qatar, other protestors at the U.N. World Climate Conference found themselves in just as dark and …
More on the absurd unemployment statistics published in the U.S. last week. Things have not improved, they have worsened. The story of Britain’s fateful encounter with addiction to debt, the rollercoaster and the unstoppable march to economic, financial and social chaos. The meeting with destiny approaches. It will shake the …
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The massive amount of notional derivatives exposure means that no amount of quantitative easing can offset the problem of a monumental collapse in the financial sector. The point-of-no-return has long-since been passed. Too big to fail? The major banks are far too small to cope… The unemployment numbers out today …
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Wall Street, which caused the economic crash that drove up the debt and gave politicians an excuse for this fiscal cliff debacle, is once again getting a free pass. Given Wall Street’s greed, this should be a national disgrace. There is no debt crisis. Rather there is a crisis in …
We are close to the tipping point – and there is no stepping off this ladder! The true horror of debt, an essay by Bill Bonner – well worth your time… As always, history teaches us a powerful lesson about what happens when you abuse debt. The MF Global affair …
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Movie recommendation: “Queen of Versailles”, a documentary about the turned fortunes of David Siegel, the time-share mogul. Animals organize themselves quite efficiently without money; why not humans? A rant about the U.S. Postal Service from a listener. Germans forbidden from viewing their gold held at the New York Fed. Housing …
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In the 2012 edition of Occupy Money released last week, Professor Margrit Kennedy writes that a stunning 35% to 40% of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35% to 40% cut of our GDP. That helps explain how wealth is systematically transferred …
The Tea Party is now clearly a distinctly minority faction. It’s prospects for obtaining future majority rule are small. The most radical (Todd Aiken) and shallow (Scott Brown) Senators lost. Reformers like Elizabeth Warren and Tammy Baldwin won. We now have powerful voices for progressive reform that can join figures …
A recent Pew poll showed that young people IN THE UNITED STATES view socialism more favorably than capitalism. You can view the charts here by age category: http://www.zerohedge.com/news/2012-11-01/americans-aged-18-2… What do you think are some of the reasons for the “socialization of America’s youth”? Here are some of my guesses: -constant …
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Techniques currently used by student loan lenders bear an “uncanny resemblance” to those used by subprime mortgage lenders leading up to the subsequent housing bubble burst and financial crisis of 2008, according to a new report by the Consumer Financial Protection Bureau. Students are facing impossible barriers in paying off their loans …
Deflation, lower prices all around. The Federal Reserve is, in reality, the world’s largest money-laundering machine. I show a trail leading to the inevitable conclusion that the Fed is not about aiding the nation or borrowers; it’s about funneling “free money” to the banks to restore their balance sheets and …
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China said Saturday the failure by Washington and Tokyo to fix their fiscal problems was hurting the global economy, as it called for “bold, swift and decisive action” to reverse a slowdown. Deputy central bank governor Yi Gang warned the absence of a “credible, medium-term fiscal consolidation in some of …
The dollar may not be as dead as many people think! The needs of the world’s reserve currency outweigh the demise of the American economy. The dollar, used as a medium of exchange and barter, can easily gain in foreign exchange value if it is the only ‘kid on the …
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This week the guys take a look at a Huffington Post article entitled, “11 Lies About The Federal Reserve” and discuss the misleading statements contained in it. http://www.huffingtonpost.com/2012/10/08/lies-about-the-federal-reserve_n_1948346.html Also, Spanish bond rates creep back up again toward 6% after the country’s credit rating is reduced to one step above junk …
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