Wednesday, September 23, 2009

FDIC Looking to Borrow Money From Banks to Save Banks

Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.

Full article.

Friday, September 18, 2009

Withdrawing Consent

If you lived all your life in a concentration camp and there was no chance of escape, would you fantasize about what you'd do if you ran it? Would you dream of uniting it with other concentration camps? Or would you think it would be better if the camp was broken up into smaller concentration camps?

Probably none of the above, unless you didn't even realize you lived in a concentration camp.

But what if you were the only one who realized you lived in a concentration camp, and everyone else was scheming and debating about the best "system" to put in place?

You would probably tell them that they are actually living in a concentration camp, and that their schemes and debates only serve to persuade the powerful that the camp has the people's underlying consent.

When personally powerless to stop encroachments on their freedom, the people can at least withdraw their consent. This weakens the powerful. The Eastern bloc fell because of it.


Monday, September 14, 2009

A peak inside another Good Ol' Boy Club

The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found.

This dominance helps explain how, even after the Fed failed to foresee the greatest economic collapse since the Great Depression, the central bank has largely escaped criticism from academic economists. In the Fed's thrall, the economists missed it, too.

"The Fed has a lock on the economics world," says Joshua Rosner, a Wall Street analyst who correctly called the meltdown. "There is no room for other views, which I guess is why economists got it so wrong."
Full article.

Friday, September 11, 2009

A Mountain of Lies Exposed

In the end, what is the most frustrating facet of these huge con games executed by the financial oligarchs is that the group of people that this article is most intended to help is often the group of people that will take most offense to this article and most steadfastly refuse to see the truth. Instead, they will only realize the truth when the economic future unfolds to the blueprint of those of us the media labels as “gloom and doomers” because we base our predictions on reality instead of fantasy and lies.
Full article.

Wednesday, September 09, 2009

No Recovery, Not Now… Not Ever

The basic business model of government is to keep order, protect campaign contributors and lure supporters with the promise of other peoples’ money. The game plan of the typical citizen is even simpler: to be on the receiving end, not the paying end. Over time, more and more of them get into position. And the whole society becomes more costly, and more corrupt.

In the United States, entire industries now operate as wards of the state. They may have too little capital. Or, their operations may be too costly. Or, their products may be simply out-of-date and unattractive. Still, government keeps them going – even at the cost of at the expense of competitors. And the money doesn’t only go to business. Cities stay solvent only by the grace of federal government grants. Whole sections of the population depend on government – including 34 million who draw their rations directly from the federal food stamp program. The spectacle is breathtaking and alarming at the same time – like a Pakistani bus on a mountain road, freighted with passengers clinging to the roof. The old rust bucket could tip over at any time, but what politician would tell a voter to get off?

Monday, September 07, 2009

China and gold

China’s reserves are more than – $2 trillion, the world’s largest.

“Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets,” he added.