If there was ever a clear sign that the leadership of Japan is fully aware that the country is about enter a terminal economic catastrophe this is it. Using the cover of currency devaluation and a rising stock market, Japan’s Prime Minister, Shinzo Abe, is attempting to make it easier to change the country’s constitution so that they can eliminate freedom of speech and set the stage for a military dictatorship. Reuters reports [...]
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A “dying” Spanish town suffering from massive unemployment is trying to stem the tide of economic decay the only way they can: by farming pot. Are the desperate measures being taken in Spain a sign of things to come as Europe’s economic crisis deepens? Nestled in the foothills of the Serra De Cardo in Catalonia, Rasquera looks like an ideal place to live. But swept up in the wave of mass [...] Trotting out a now all-too-familiar line over the weekend, Mario Draghi, president of the European Central Bank, said nobody should underestimate the political will behind saving the euro, or the support the single currency continues to command among the general public. Monetary Union, he declared, was “irreversible”, as if merely to repeat the assertion is to make it so. This is the sort of pretence that policymakers feel obliged to indulge in [...] Both hyperinflation and protracted deflation are extraordinary economic events. And it is telling that they are much more common in the 20th century and after than in all preceding recorded history. Ah, the joys of modernity. While prices can certainly increase based on fluctuations in supply and demand, by definition ‘a general price inflation is an increase in the money supply without a corresponding increase in real output causing an increase [...] Lew Rockwell The modern institution of the presidency is the primary political evil Americans face, and the cause of nearly all our woes. It squanders the national wealth and starts unjust wars against foreign peoples that have never done us any harm. It wrecks our families, tramples on our rights, invades our communities, and spies on our bank accounts. It skews the culture toward decadence and trash. [...] A milestone on the road to economic ruin was reached last week. Total Foreign Exchange Reserves topped $10 trillion. That means central banks have created the equivalent of $10 trillion of fiat money that they have used to buy the currencies of other countries. That figure does not include the money central banks have created and used to buy assets denominated in their own currencies, [...] I don’t think this could work, even if the holders of that debt would allow them to do so without dumping it, because the US is a major import addict; it needs its foreign oil to function. So by devaluing the dollar all it does is make energy more expensive for Americans which hurts the economy from the other end. Then the government tax reciepts [...] by Davos Here’s an article that has a pretty good breakdown on the poverty issue: 43.6 million Americans lived in poverty in 2009 |
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