Economic Articles from 2017
Banks Are Evil
by Adam Taggart
Posted May 22, 2017
It’s time to get painfully honest about this. I don’t talk to my classmates from business school anymore, many of whom went to work in the financial industry. Why?
Because, through the lens we use here at PeakProsperity.com to look at the world, I’ve increasingly come to see the financial industry — with the big banks at its core — as the root cause of injustice in today’s society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate.
And I’m choosing that word deliberately: Evil.
In my opinion, it’s long past time we be brutally honest about the banks. Their influence and reach has metastasized to the point where we now live under a captive system. From our retirement accounts, to our homes, to the laws we live under — the banks control it all. And they run the system for their benefit, not ours. More…
The Plan to Control ALL Your Money is Now at Advanced Stage
by Ben Traynor
Posted May 19, 2017
As the old saying goes, though, just because you’re paranoid doesn’t mean they’re not out to get you!
Because it turns out – as you’ll keep reading you’ll learn exactly why I’m saying this – that they really do plan to take total control of your money. Every penny you have in the bank and anything you take out of the bank too.
I will show you how the monetary powers plan to take control of your wealth. You’ll also see why this plan is already at a very advanced stage. Armed with this knowledge, you’ll be able to spot the warning signs before they put their plan into action. So you can get ahead of this new threat to your financial well-being. More…
The Student Debt Servitude Sham
By Gordon T Long
Posted May 18, 2017
Many today strongly believe it is morally wrong to indenture students to the degree of liabilities presently required to achieve the education required to become a productive contributor within our modern society.
The question we need to demand answers to is why has college costs for students exploded upward, while salaries and job positions for graduates has not? What is driving the relentless and inexplicable surge in the debt burden for students and their parents?
The well researched “Ivy League Inc” by my friends at OpenTheBooks only begins to scratch the surface of what is minimally a sham and may be better described as an orchestrated banking scam, not to dissimilar in design to the last financing bubble (i.e. the Residential Real Estate bubble in the last decade). Let me take the discussion in a critical direction which they politically may have felt it to be too sensitive to broach? More…
Slavehood 2017: Social Chaos and Global Warfare. “Puppet Leaders’ Greed for Power and Money”
By Peter Koenig
Posted May 16, 2017
When in the 18th and 19th Century African slaves did not ‘behave’, they were cruelly beaten sometimes to death as a deterrent for others. They were deprived of food for their families. Their women were raped. They were traded to even harsher white masters. Their lives were worth only what their labor could produce. They were treated as subjects, devoid of human warmth.
Today we have become all slaves; slaves to the powers of mafia bankster of finance; slaves to the western lie-propaganda; to the lobbies and their giant all dominating corporations – to the war-industry, because we happily believe what we are told about ever-increasing terrorism that needs to be fought with eternal wars; slaves to the environment-destructive hydrocarbon industry; to the pharma-industry; to the Monsanto-ized agroindustry; to senseless consumerism – and foremost – and summing it all up: to greed, endless greed that drives endless growth, nurturing endless competition fomenting adversity, destroying solidarity, instead of amical cooperation for a harmonious human cohabitation. More…
Are U.S. Taxpayers Now on the Hook for Risky Wall Street Real Estate Backed Bonds?
by Michael Krieger
Posted May 14, 2017
Let’s revisit a little contemporary American robber baron history. In the immediate aftermath of the U.S. financial crisis, financial oligarchs immediately got to work helping Main Street climb out of the Wall Street created ditch by buying foreclosed homes from hordes of newly destitute Americans and then renting them back to those same people.
Well they aren’t really your “new” slumlord in the sense you have been debt slaves to the financials system for decades. What I really mean is that it is now becoming overt and literal. Literal because financiers are now the main players in the real estate market and are buying all the homes ordinary citizens were kicked out of over the past few years. Yep, we bailed out the financial system so that financiers with access to cheap credit can buy up all of America’s real estate so that they can then rent it back to you later. More…
I never knew how screwed up global banking was until I started my own bank
by Simon Black
Posted May 13, 2017
By late 2014 I’d finally had enough. After so many run-ins with the bitter incompetence and bureaucratic indignity of the banking system, I decided once and for all that I would start my own bank. I probably should have had my head examined, but instead I called one of my attorneys to talk through the options.
Had I known then what I know now, I think I still would have made the same decision…. but in total honesty I was completely unprepared for the torrential shit storm I was about to enter. The deeper I went, the more overwhelming my discoveries of how shockingly inept, obsolete, and out of touch the industry is.
It’s one thing to read about it in the headlines. It’s quite another to experience it first hand as an insider. More…
Just a quick reminder of who’s really in charge
by Simon Black
Posted May 9, 2017
Think about it: interest rates influence just about EVERYTHING in the economy. Changes in interest rates influence housing prices, company stock prices, retail sales, food prices, oil prices, and major business purchases.Interest rates have a significant impact over employment, business investment, inflation, and the currency’s international exchange rate. Increases in the interest rate even have the power to bring a government to its knees.
This is pretty extraordinary power. And it has been awarded to an unelected committee that has an astonishing track record of getting it wrong. More…
The Looting Machine Called Capitalism
By Dr. Paul Craig Roberts
Posted May 8, 2017
I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.
In the past when critics raised the question about external costs, that is, costs that are external to the company although produced by the company’s activities, economists answered that it was not really a problem, because those harmed by the activity could be compensated for the damages that they suffered. This statement was intended to reinforce the claim that capitalism served the general welfare. However, the extremely primitive nature of American property rights meant that rarely would those suffering harm be compensated. The apologists for capitalism saved the system in the abstract, but not in reality. More…
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