Economic Articles from 2016
The rise of the meta-criminal: Is the NSA manipulating the stock market?
by Jon Rappoport
Posted June 6, 2016
Trevor Timm of the Electronic Freedom Frontier dug up a very interesting nugget. It was embedded in the heralded December 2013 White House task force report on spying and snooping.
Under Recommendations, #31, section 2, he found this: “Governments should not use their offensive cyber capabilities to change the amounts held in financial accounts or otherwise manipulate financial systems.”
Timm quite rightly wondered: why were these warnings in the report? More…
Once Middle Class, Millions Are Joining the Ranks of ‘Disposable’ Americans
By Paul Buchheit
Posted June 1, 2016
Poor Americans are becoming increasingly disposable in our winner-take-all society, as often noted in the passionate writings of Henry Giroux. After 35 years of wealth redistribution to the super-rich, inequality has forced much of the middle class down to near-poverty levels, worsened by the fact that they are also blamed for their own misfortunes.
The evidence for this disposability keeps accumulating: income and wealth—and health—are all declining for middle-class America. Meanwhile, those at the top could not be less concerned. As wealth at the top grows, the super-rich feel they have little need for the rest of society. More…
The U.S. Government Is Quietly Paying Billions to Wall Street Banks
By Pam Martens and Russ Martens
Posted May 24, 2016
Wall Street On Parade has learned, by piecing together the SEC filings of Freddie Mac and Fannie Mae and previous Federal Reserve studies, that these two companies that have been in U.S. government conservatorship since the 2008 financial crisis, continue to pay out billions of dollars to the biggest Wall Street banks on their derivatives contracts.
This raises multiple red flags, not the least of which is how much does the U.S. public really understand about the 2008 financial crisis and what appears to be a continuing taxpayer bailout. It is well known at this point that AIG had to be bailed out because it owed over $90 billion on its derivative and security loan contracts to Wall Street and foreign banks. Now, it’s looking like Fannie Mae and Freddie Mac were also Wall Street’s derivatives patsies – or “dumb tourists” as author Michael Lewis might say. More…
By Cognitive Dissonance
Posted May 18, 2016
Ultimately the destructive capacity of any rogue wave is based upon its volume and velocity. In nearly all the examples shown on the reserve currency chart except present day, the ‘known world’, meaning those currencies that controlled commerce and people’s minds within a geographic location, did not encompass the globe or its entire population. Far from it in fact.
Those within the influence of previous reserve currency collapses definitely suffered each time the rogue passed. But there were always nations, resources and people outside the reserve currency system which acted as a buffer when the rogue wave roared through. Such is not the case this time, at least not to the same extent previously. And the proof is perfectly clear when carefully examined. When the Federal Reserve sneezes, emerging nations and their economies suffer massive convulsions.
It truly is different this time because the volume of the coming rogue wave will encircle the globe. Like a massive tsunami, the ripples and reverberations will be massively destructive and circle the globe many times until its energy is finally dissipated. More…
The New “Water Barons”: Wall Street Mega-Banks are Buying up the World’s Water
By Jo-Shing Yang
Posted May 17, 2016
A disturbing trend in the water sector is accelerating worldwide. The new “water barons” — the Wall Street banks and elitist multibillionaires — are buying up water all over the world at unprecedented pace.
The second disturbing trend is that while the new water barons are buying up water all over the world, governments are moving fast to limit citizens’ ability to become water self-sufficient (as evidenced by the well-publicized Gary Harrington’s case in Oregon, in which the state criminalized the collection of rainwater in three ponds located on his private land, by convicting him on nine counts and sentencing him for 30 days in jail). Let’s put this criminalization in perspective: More…
Why the Economy Should Stop Growing—And Just Grow Up
by David Korten
Posted May 15, 2016
Listen to the political candidates as they put forward their economic solutions. You will hear a well-established and rarely challenged narrative. “We must grow the economy to produce jobs so people will have the money to grow their consumption, which will grow more jobs…” Grow. Grow. Grow.
But children and adolescents grow. Adults mature. It is time to reframe the debate to recognize that we have pushed growth in material consumption beyond Earth’s environmental limits. We must now shift our economic priority from growth to maturity—meeting the needs of all within the limits of what Earth can provide. More…
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