Economic Articles from 2017

Demonetization: The Sinister Agenda Behind Washington’s “War On Cash”

[Economics]
Demonetization: The Sinister Agenda Behind Washington’s “War On Cash”
By F. William Engdahl
Posted February 5, 2017

war on cash has sinister originsIt’s kinda sneaking up on us like an East Texas copperhead pit viper. It began to get some wide attention in 2016, with prominent economists and financial media suddenly talking about the wonderful benefits of a “cashless society.”

The move to a purely digital money system would be Big Brother on steroids. It would allow the relevant governments to monitor our every money move with a digital trail, to confiscate deposits in what now are legal bank “bail-ins” as was done in Cyprus in 2013. If central banks move interest rates into negative, something the Bank of Japan and ECB in Frankfurt are already doing, citizens have no choice than to spend the bank money or lose. It is hailed as a way to end tax avoidance but it is far, far more sinister. More…

Five Economic Reforms Millennials Should Be Fighting For

[Economic]
Five Economic Reforms Millennials Should Be Fighting For
By Jesse A. Myerson
Posted February 2, 2017

millenials need to fight for economic reformFive years after Wall Street crashed, America’s banker-gamblers have only gotten richer, while huge swaths of the country are still drowning in personal debt, tens of millions of Americans remain unemployed – and the new jobs being created are largely low-wage, sub-contracted, part-time grunt work.

Millennials have been especially hard-hit by the downturn, which is probably why so many people in this generation (like myself) regard capitalism with a level of suspicion that would have been unthinkable a decade ago. But that egalitarian impulse isn’t often accompanied by concrete proposals about how to get out of this catastrophe. Here are a few things we might want to start fighting for, pronto, if we want to grow old in a just, fair society, rather than the economic hellhole our parents have handed us. More…

India, Death by Demonetization: “Financial Genocide”, The Crime of the Century

[Economic]
India, Death by Demonetization: “Financial Genocide”, The Crime of the Century
By Peter Koenig
Posted January 31, 2017

the bankers winA Financial genocide, if there was ever one. Death by demonetization, probably killing hundreds of thousands, if not millions of people, through famine, disease, even desperation and suicide – because most of India’s money was declared invalid. The official weak reason for this purposefully manufactured human disaster is fighting counterfeiting. What a flagrant lie! The real cause is of course – you guessed it – an order from Washington.

On 8 November, Narendra Modi, the Indian Prime Minister, brutally declared all 500 (US$ 7) and 1,000 rupee-notes invalid, unless exchanged or deposited in a bank or post office account until 31 December 2016. After this date, all unexchanged ‘old’ money is invalid – lost. Barely half of Indians have bank accounts.

The final goal is speedy global demonetization. India is a test case – a huge one, covering 1.3 billion people. If it works in India, it works throughout the developing world. That’s the evil thought behind it. “Tests” are already running in Europe. More…

Remember, that buying something with cash may be one of the last things you can do anonymously. Once all money is digital, every transaction will be recorded and monitored for both known and unknown purposes.

How to Cut Infrastructure Costs in Half

[Economic]
How to Cut Infrastructure Costs in Half
by Ellen Brown
Posted January 28, 2017

cut infrastructure costs in halfPresident-elect Donald Trump has promised to rebuild America’s airports, bridges, tunnels, roads and other infrastructure, something both Democrats and Republicans agree should be done. The country needs a full $3 trillion in infrastructure over the next decade.

The $1 trillion plan revealed by Trump’s economic advisers relies heavily on public-private partnerships, and private equity firms are lining up for these plumbing investments. In the typical private equity water deal, for example, higher user rates help the firms earn annual returns of anywhere from 8 to 18 percent – more even than a regular for-profit water company might expect. But the price tag can come as a rude surprise for local ratepayers. More…

Draining the Swamp in Washington Through Community Banking

[Economic]
Draining the Swamp in Washington Through Community Banking
By Pam Martens and Russ Martens
Posted January 25, 2017

draining the swamp by using community banksThe currency of Washington’s power politics is campaign money. Much of that campaign money flows from Wall Street’s biggest banks: its lobbyists, its Political Action Committees, its employees and their spouses. After flooding the presidential campaign with money, Wall Street is then rewarded by being allowed to make cabinet hiring decisions as part of the new President’s transition team, ensuring continuity government and an incurable malignancy on American democracy.

To begin the process of draining the corrupt swamp in Washington, it means cutting off the money flow from Wall Street – not looking for a new savior who is deeply indebted to the same Wall Street banks.

Tens of millions of U.S. consumers have the power to pull the plug on the swamp by moving their deposits from big Wall Street banks to their local community banks or their credit union. This would not only deplete Wall Street’s coffers to corrupt in Washington, it would provide the cash to reinvigorate the cities and towns that Wall Street has blighted through its dirty swap deals and its evil genius subprime housing bust. More…

Financial Crash Analysis: $22.6 Billion in Homeowner Relief; $7.8 Trillion to Four Wall Street Banks

[Economic]
Financial Crash Analysis: $22.6 Billion in Homeowner Relief; $7.8 Trillion to Four Wall Street Banks
By Pam Martens and Russ Martens
Posted January 16, 2017

protecting the big banksThe American people would still be in the dark about the Federal Reserve’s covert money spigot to the banks except for Senator Bernie Sanders. In 2010, as Congress was debating the Dodd-Frank financial reform legislation, Sanders introduced an amendment that would force the GAO to conduct a one-time audit of the Fed covering its emergency lending programs from December 1, 2007 through July 21, 2010, the date the legislation was signed into law by President Obama. (Because of this abbreviated period of time, the public may still lack full details about Wall Street’s bailout. Sanders got pushback from the White House that prevented him from pushing for a stronger amendment.)

When the one-time audit of the Fed was released by the GAO in 2011, Sanders said in a statement: “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” More…

Prosperity = Abundant Work + Low Cost of Living

[Economic] 
Prosperity = Abundant Work + Low Cost of Living
by Charles Hugh Smith
Posted January 6, 2016

prosperityAn economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent.

If we seek a coherent context for the new year, we would do well to start with the foundations of widespread prosperity. While the economy is a vast, complex machine, the sources of widespread prosperity are not that complicated: abundant work and a low cost of living. When work is abundant, there are opportunities for many skill levels, and employers must bid for the most productive, reliable workers. This supports wages and widespread employment.

When the cost of living is low, even low-wage households can not only get by but put a little aside if they are prudent and thrifty. More…

The Real “Takers” in America: The Unproductive, Rent-Extracting Rich

[Economic] 
The Real “Takers” in America: The Unproductive, Rent-Extracting Rich
by Michael Lind
Posted January 5, 2017

rich watching Occupy Wall St protestYou don’t have to be a Tea Party conservative to believe that the economy is threatened when there are too many “takers” and not enough “makers.” The “takers” who threaten the dynamism and fairness of industrial capitalism the most in the 21st century are not the welfare-dependent poor — the villains of Tea Party propaganda — but the rent-extracting, unproductive rich.

The term “rent” in this context refers to more than payments to your landlords. As Mike Konczal and many others have argued, profits should be distinguished from rents. “Profits” from the sale of goods or services in a free market are different from “rents” extracted from the public by monopolists in various kinds. Unlike profits, rents tend to be based on recurrent fees rather than sales to ever-changing consumers. While productive capitalists — “industrialists,” to use the old-fashioned term — need to be active and entrepreneurial in order to keep ahead of the competition, “rentiers” (the term for people whose income comes from rents, rather than profits) can enjoy a perpetual stream of income even if they are completely passive. More…

Page 15 of 15« First...1112131415

End The Illusion Films

End The Illusion Blog

Quotable Sayings

Rev. Martin Luther King

He who is devoid of the power to forgive is devoid of the power to love.

Rev. Dr. Martin Luther King, Jr.

More Quotable Sayings

_____________________________
_____________________________

The Shocking Truth about Our Money System and How We Can Break Free!

This site is designed for people who wish to follow important events, but do not have time to do a lot of reading. If you follow this site for a period of time, the daily fresh stories in different categories will over time provide you with an understanding of the “big picture” by showing you both the problems and the solutions. Hopefully this will inspire you to listen to your inner wisdom and become part of the solution.