George Soros Warns “Central Banks Are Creating Financial Instability”
While the crisis in Europe is first in Goerge Soros’ mind because it is the “hottest” risk flare currently, his biggest concern in what he calls the “disarray in global cooperation,” or what we would call ‘dueling central banks’. “The almost universal adaptation of quantitative easing,” worries him and he notes that “Europe is the last bastion of orthodoxy,” in this regard [...]
http://usawatchdog.com/global-growth-will-never-return-to-its-glory-days-chri… Chris Martenson says, “The risks are piling up in the financial system. . . . The Federal Reserve is printing, printing, printing . . . we’re going to have a world class currency crisis.” Given the current situation of a broken money system and dwindling natural resources, Martenson says, “I don’t see how you avoid a hard landing at this point.” Join Greg Hunter of USAWatchdog.com as he goes One-on-One [...]
The Twinkie, it turns out, was introduced way back in 1930. In our memories, however, the iconic snack will forever be identified with the 1950s, when Hostess popularized the brand by sponsoring “The Howdy Doody Show.” And the demise of Hostess has unleashed a wave of baby boomer nostalgia for a seemingly more innocent time.
Needless to say, it wasn’t really innocent. But the ’50s — the Twinkie Era — [...]
The European Central Bank is thinking the unthinkable to save the euro, including resuming its controversial bond-buying program and possibly even pursuing quantitative easing — in effect printing money.
Bold action is probably at least five weeks away, insiders say, though some more clues may come when the ECB reveals its latest interest rate decision on Thursday.
Several other pieces have to fall into place before the ECB will act decisively, insiders say. These [...]
Wolf Richter www.testosteronepit.com
Jens Weidmann, President of the German Bundesbank and member of the ECB Council, ventured into a veritable lion’s den with an interview in Le Monde, the number one liberal daily in France whose editorial bend has been supporting President François Hollande and his “growth” policies. And there, the central banker lashed out at Hollande and what he’d promised during the campaign. And he lashed out at the ECB, and at everything that [...]
Commenting on the wealth extraction of empires, Michael Parenti elucidates what America really is – an Empire – and what an empire is all about: Imperialism.
What Do Empires Do? by Michael Parenti
When I wrote my book Against Empire in 1995, as might be expected, some of my U.S. compatriots thought it was wrong of me to call the United States an empire. It was widely believed that U.S. rulers did not pursue empire; [...]
Spain’s new prime minister has looked into the abyss and recoiled.
Though he swept into office as an apostle of orthodoxy, Mariano Rajoy has since delved into Madrid’s ghastly accounts and concluded that it would be “suicidal” to try to slash the budget deficit from 8pc of GDP to 4.4pc of GDP this year, as demanded by Europe’s fiscal Calvinists.
Such a policy would require a further €40bn or €50bn of cuts [...]
By David Marsh, MarketWatch
LONDON — A nightmare for France, Italy and Spain. A godsend for far-right nationalist parties across Europe. As the result of the Friday the 13th downgrades, everything gets much more difficult. The slow-motion train crash of economic and monetary union (EMU) has suddenly speeded up. The place in the film where the track breaks up and the railcars spill into the ravine cannot be far away.
Today on Yahoo! Finance’s “The Daily Ticker,” Wall Street analyst Aaron Task sat down with real estate mogul and TV personality Donald Trump to discuss his thoughts on how to fix the economy. Never shy to share, Trump’s plan rests on three main ideas:
1. Get Tough on China: Trump says the U.S. should impose at least a 25% tariff on Chinese goods in response to what he calls their currency manipulation [...]
California voters are increasingly downcast about the direction of the country, but — like their leaders in Washington — many would rather adhere to party orthodoxy than compromise to address the current economic problems, a new USC Dornsife/Los Angeles Times poll shows.The findings offer little guidance for President Obama, who will unveil a jobs package this week that he hopes to push through a polarized [...]
There should be no confusion as to the origins of the global economic crisis that began in 2008. This crisis was set in motion in the 1960s, when policymakers in the United States abandoned the core principles of economic orthodoxy: balanced government budgets and sound money backed by gold.
Large budget deficits and the possibility of financing them with paper money fundamentally changed the way the [...]