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By Paul B. Farrell, MarketWatch
Yes, capitalism is working … for the Forbes 1,000 Global Billionaires whose ranks swelled from 322 in 2000 to 1,426 recently. Billionaires control the vast majority of the world’s wealth, while the income of American workers stagnated. For the rest of the world, capitalism is not working: A billion live on less than two dollars a day. With global population exploding to 10 billion by [...] By Paul B. Farrell, MarketWatch
America needs a new war? For the economy to survive? Job market to revive? Capitalism thrive? Maybe. Here’s why: Forbes reported that GDP data “fell for the first time in three and a half years in the fourth quarter … declining by an annualized 0.1%” while “economists had expected GDP to increase 1%. A dramatic 15% drop in government spending dragged on economic activity. Defense [...] from Bloomberg: When JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon testifies in the U.S. House today, he will present himself as a champion of free-market capitalism in opposition to an overweening government. His position would be more convincing if his bank weren’t such a beneficiary of corporate welfare. To be precise, JPMorgan receives a government subsidy worth about $14 billion a year, according to research published by the International Monetary Fund and our own [...] Why things don’t change:
1.) Humans have evolved to think in terms of the Here-and-Now. This type of thinking is incompatible with solving problems whose true and full impact will not be felt until decades later. “…Uncertainty reduces the frequency of pro-environmental behavior. People interpret uncertainty in ways that serve their self-interest. We undervalue geographically distant risks.” 2.) Ideologies blind Humans to unbiased thinking. Examples of ideologies are religions (God controls every outcome), belief in [...] Locking down an American workforce Sweatshop labor is back with a vengeance. It can be found across broad stretches of the American economy and around the world. Penitentiaries have become a niche market for such work. The privatization of prisons in recent years has meant the creation of a small army of workers too coerced and right-less to complain. Prisoners, whose ranks [...] - Posted Friday, 20 April 2012 | Share This Article | Source: GoldSeek.com The Kondratieff long wave cycle (aka The K Wave) provides the only good explanation of the current state of the global economy and financial markets. It is clear that a multi-generation long wave debt cycle has driven individual, government and corporate debt to crisis levels that are now in the process of a slow motion implosion. The debt [...] It’s pretty obvious where we are headed. The two remaining candidates in the current POTUS election are a testament to our corporatized political system, closed to anyone without the requisite $ millions $ in a campaign war chest. The latest contender, Romney, proves the point that the one with the biggest bankroll wins the slot. The difference between Bush and Obama has not even been recognizable. They are beholden to the [...] kingworldnews.com Today Michael Pento alerted King World News that banks can now expand the M2 money supply to a staggering $24 trillion. Pento, who runs Pento Portfolio Strategies, writes for King World News to warn about this dangerous situation and how it will create more bubbles and higher gold. Pento had this to say: “The plain and sad truth is that America continues to repudiate its foundation of free-market capitalism and is [...] by ZH Startling Unpublished Keynes Equations Discovered LONDON | Friday Sep 30, 2011 3:26pm EDT (Routers) – A remarkable discovery reveals equations that economists say could end the business cycle – forever. Ian Macallum, spokesman for the Royal & Ancient Historical Society of London, told Routers that the equations were contained in an unpublished manuscript which was found in the attic of an 18th century flat in Soho. “We were skeptical when [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. (MarketWatch) — There is a global economic boom coming, but unfortunately, that boom comes only after a systemic collapse of the global economy, markets and capitalism — a collapse that may well eliminate billions of people from the planet. Shocking? Cruel? Brutal? Yes. But folks, that is the coded message in many recent warnings from environmental economists [...] House Republicans are doing their best to undo key provisions in the Dodd-Frank financial regulations. A GOP lead subcommittee last week voted to weaken the Consumer Financial Protection Bureau, or CFPB, established to protect consumers from abusive mortgage and credit card policies. Meanwhile, another committee passed a measure to limit funding for the SEC and Commodity Futures Trading Commission (CFTC) to regulate over-the-counter (OTC) [...] “I believe we no longer have free market capitalism and we no longer have a democracy,” says David Stockman, the blunt-talking former Michigan Congressman and Director of the OMB during the Reagan administration. What now exists at the heart of the U.S. economy, Stockman argues, is “crony capitalism” – a system that benefits and even rigs the system in favor of America’s banks and bankers at [...] by trwiley “I don’t know what’s going to happen after the collapse (which he blames on government). I know we have two choices…” And he goes on to describe the two choices. If we choose a totally free market capitalism, as enshrined in our constituion by the founding fathers, then the future will be very bright. If we choose a collectivist, centrally planned model where government takes over [...] by ZH The Fed mutiny has arrived: HOENIG SAYS U.S. HAS `DEEPLY’ UNDERMINED FREE-MARKET CAPITALISM And the last [...] by Giordano Bruno of Neithercorp Press Disinformation Fog Intensifies As Economic Turmoil Develops In the past few years, the concept of economic globalism has revealed itself as quite the Trojan horse; once posing as the next step in the evolution of “free market†capitalism and the savior of third world nations striving for development status, now revealed as a fiscal plague spreading delirium and destruction wherever it touches [...] Washington’s Blog President Obama has “compromised” on everything from financial regulation and healthcare to taxes. Obama claims that all of his “compromising” shows that he’s getting things done. After all, politics was long ago defined as “the art of compromise”. On it’s face, it makes sense that if both conservatives and liberals hate legislation, it must mean that there was give-and-take, and it ended up somewhere in [...] Did the Obama camp scuttle a good thing well underway? Did Wall Street capitalism get insufficient opportunity to demonstrate the fruits of financial self-regulation? Or do excesses stimulate counter-excesses just as extreme hunger may trigger over-eating? Compromise capitalism is not the key! We need a fresh approach to capitalism – a virtuous capitalism growing out of an honorable economic ethos. The free market debate taken up by congressional candidate Rand Paul [...] The EU spent $1 trillion to save 11 million Greek citizens who spent out their eyes and ears. In reality, they just didn’t want the international banks to take massive hits for hiding losses and once again, shifting losses into the future. Because Greece has over $400 billion in public debt held by external banks which would spark the next wave down, crippling the anemic global economic recovery. The piper still [...] The market in reality represents only the surface of society and its significance relates to the momentary situation as it exists when we make profits trading stocks of bonds. In a sense, the market is the institutionalization of individualism and non-responsibility to any ethical behavior or concern for future generations. By that I mean the majority of traders don’t really care about the business models of companies they invest in, [...] Time followed up with a statement on Blankfein’s merits. “Goldman Sachs is very important to the United States. They help companies to grow by helping them to raise capital by bypassing laws. Grounded in the staunch belief of free-market capitalism, Blankfein has been a beacon of hope in the wake of such devastation. Companies that grow create wealth and prosperity. This, in turn, allows people to have jobs that create more [...] |
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This is going to be the most expensive “recovery” ever.
This recovery is going to lead to a real depression where countries collapse. Soon, politicians will regret this “recovery” and will wish they had let the banks fail. They will realize that free-market capitalism is much more efficient than socialism. Or maybe they won’t .. ever.
Socialism is great until you run out of other peoples money- The Iron Lady
Not sure we will see another Depression the conditions of countries [...]