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Economic Articles from 2020

The Fed Wants the Public to Know It Can Withhold Information Under an Executive Order and Defy Subpoenas from Courts and Congress

[Economic] [Justice]
The Fed Wants the Public to Know It Can Withhold Information Under an Executive Order and Defy Subpoenas from Courts and Congress
By Pam Martens and Russ Martens
Posted November 7, 2020

central bank secrecyThe United States is experiencing the worst pandemic since 1918. The U.S. economy is experiencing the worst economic crisis since the Great Depression of the 1930s. And the general public is attempting to vote in the most important presidential election of a lifetime with obstacles like fake ballot boxes, 5-hour wait lines, and destroyed mail-sorting machines.

What is the central bank of the United States, the Federal Reserve, doing with its free time at this critical moment? It’s rewriting its rules for responding to Freedom of Information Act (FOIA) requests from the public and media. More…

IMF Seizes on Pandemic to Pave Way for Privatization in 81 Countries

[Economic] [Social]
IMF Seizes on Pandemic to Pave Way for Privatization in 81 Countries
by Alan Macleod
Posted November 2, 2020

austerity for the masses, privatization for the richThe enormous economic dislocation caused by the COVID-19 pandemic offers a unique opportunity to fundamentally alter the structure of society, and the International Monetary Fund (IMF) is using the crisis to implement near-permanent austerity measures across the world.

76 of the 91 loans it has negotiated with 81 nations since the beginning of the worldwide pandemic in March have come attached with demands that countries adopt measures such as deep cuts to public services and pensions — measures that will undoubtedly entail privatization, wage freezes or cuts, or the firing of public sector workers like doctors, nurses, teachers and firefighters.

The principal cheerleader for neoliberal austerity measures across the globe for decades, the IMF has recently (quietly) begun admitting that these policies have not worked and generally make problems like poverty, uneven development, and inequality even worse. Furthermore, they have also failed even to bring the promised economic growth that was meant to counteract these negative effects. In 2016, it described its own policies as “oversold” and earlier summed up its experiments in Latin America as “all pain, no gain.” Thus, its own reports explicitly state its policies do not work. More…

The LEAST Important Election Of Our Lifetimes

[Economic] [Political]
The LEAST Important Election Of Our Lifetimes
by John Rubino
Posted November 1, 2020

election will make little differenceA consensus seems to have formed on both left and right that the upcoming presidential election involves some literally existential questions, making it THE MOST IMPORTANT ELECTION OF OUR LIFETIMES.

In fact, the opposite is true. This election is the least important of the past 30 years and very possibly the least important ever. Because, to put it bluntly, we’re kind of screwed either way.

The coming financial crisis of course. The pandemic turbocharged a process of hyper-financialization that was already underway, and now whoever is in charge next will have no choice but to keep bailing out everything in sight with tens of trillions of newly created dollars.

This will shift the pressure from bankrupt states and insolvent companies to the currency. Prices will start to rise as the dollar falls. And the fears of today’s voters will seem in retrospect like quaint fantasies from a simpler and embarrassingly naïve time. Let’s consider some of those supposedly existential threats: More…

Deflation of the Citizenry’s Hard Assets Will Be a Huge Buying Opportunity for Insider Power Elites

[Economic]
Deflation of the Citizenry’s Hard Assets Will Be a Huge Buying Opportunity for Insider Power Elites
by Zeus Yiamouyiannis
Posted October 24, 2020

billionaires are devouring people and the planetThe gravy train will have to stop at some point, but right now the global elites have pushed their chips on to the U.S. dollar and stocks.

I believe there will be a massive contraction/deflation in the near term in certain sectors of the U.S. and world economy as demand flees from commercial real estate, as jobs do not come back full force, small businesses close down, and/or people migrate to home offices. Demand for residential real estate will also likely contract in the short term as people are forced to go into living with family or shared housing. Even with the money-pump operating at full speed, flooding the market with cash (which should cause inflation), there will be an opposite effect for the ordinary person.

Why? There are tons of people with no actual money to buy up, lease, or rent real estate assets. Cash and borrowing collateral is tilted so much to super-wealthy, that the vast majority of people will not have access to cash to invest in real estate and other durable goods. Far fewer ACTUAL PEOPLE can pursue certain goods even if the SYSTEM is flooded with cash. It’s not in their pockets! More…

The Bill for America’s $50 Trillion Gluttony of Inequality Is Overdue

[Economic] [Media]
The Bill for America’s $50 Trillion Gluttony of Inequality Is Overdue
by Charles Hugh Smith
Posted October 15, 2020

redistribution of wealth Do you hear the pathetic bleating of America’s billionaires and their army of toadies? If not, you soon will, for a remarkable report has been released that documents the $50 trillion in earnings that’s been transferred to the Financial Aristocracy from the bottom 90% of American households in the past 45 years.

Longtime readers know I’ve reported on the astounding increase in America’s economic inequality for the past 15 years, and addressed the eventual banquet of consequences this imbalanced, destabilizing state of affairs will serve up.

But with few exceptions, the corporate media has ignored this fundamental reality of American life, and blown off the consequences as easily ignored speculation by marginalized bloggers and commentators. (“Would somebody please shadow-ban these sites going on and on about soaring inequality? Thank you, Facebook, Google and Twitter–we’ll return the favor directly.”)

The extreme rarity of paragraphs like these in the corporate media cannot be over-emphasized. The corporate media has carried water for the billionaires and America’s Financial Aristocracy for decades. (No surprise, given that the vast majority of America’s media / social media is owned by the billionaires and Financial Aristocracy. Why bite the hand that feeds you, especially when the risk of losing your career is so high?) More…

 

The Fed Provides an Unlimited Money Lifeline to Wall Street; 30 Million Americans Facing Eviction Get a No-Money 4-Month Plan

[Community] [Economic]
The Fed Provides an Unlimited Money Lifeline to Wall Street; 30 Million Americans Facing Eviction Get a No-Money 4-Month Plan
By Pam Martens and Russ Martens
Posted October 9, 2020

30 to 40 million facing evictionsHappy New Year – here’s your eviction notice. That’s how tens of millions of struggling Americans have been set up to fail as the one percent on Wall Street, propped up by unlimited money from the Fed, ring in the New Year with Tiffany flutes of Dom Perignon in their Greenwich mansions.

According to a recent study published by The Aspen Institute, 30 to 40 million Americans will be at risk of eviction over the next several months.

The Centers for Disease Control and Prevention (CDC) has been dragged into the eviction morass because Democrats and Republicans in Congress cannot find common ground on a meaningful plan. More…

Bill Gates Secretly Dictates Global Food Policy Too

[Economic] [Social]
Bill Gates Secretly Dictates Global Food Policy Too
by Dr.Joseph Mercola
Posted October 1, 2020

Master of the UniverseBill Gates has built a global empire around his technologies and “philanthropic” endeavors, the magnitude of which is now becoming increasingly clear. His sheer wealth has allowed him to become a veritable superpower in his own right. He’s not only risen to become the largest funder of the World Health Organization and the unelected global COVID-19 health czar but he’s also a secret powerbroker of the global food system.

As revealed in the AGRA Watch report,1 “The Man Behind the Curtain: The Gates Foundation’s Influence on the UN Food Systems Summit,” published August 2020, Gates wields powerful influence over global food and agriculture policy through his funding of a large number of organizations involved in agricultural development and policy making.

One of the reasons many are now becoming aware of just how powerful Gates has become is because of his frequent appearances as the COVID-19 expert du jour. It’s an odd choice, considering his complete and total lack of formal medical training. It’s particularly perplexing in light of how the opinions of actual medical doctors, award-winning scientists and researchers who conflict with his views are being scrubbed off the internet. More…

Here’s How a Cashless Society Would Affect Day-to-Day Life

[Economic] [Social]
Here’s How a Cashless Society Would Affect Day-to-Day Life
by Daisy Luther
Posted September 25, 2020

dangers to freedom of a cashless societyHave you ever thought about the ramifications of a cashless society? I’m talking about the real, first-person effects, not some ephemeral conspiracy theory or possible biblical prophecy. This is bad news for a lot of reasons, not the least of which are the ways it would affect day-to-day life.

Cash would no longer be legal tender, therefore you could not make purchases with it, pay bills with it, or spend it in any way. You would not be able to deposit cash into your bank account so you wouldn’t be able to accept cash for an exchange of goods or services.

What happens when there’s a Cyprus-style event and the government decides a bail-in is in order? If you don’t recall, back in 2013, billions of dollars were seized from depositors to protect the small country’s banking system. This was done to make good on an $11.6 billion dollar debt owed to creditors outside the country. More…

The Global Elite Have Far More Control Over Us Than Most People Would Dare To Imagine

[Economic] [Political] [Media] [Social]
The Global Elite Have Far More Control Over Us Than Most People Would Dare To Imagine
by Michael Snyder
Posted September 21, 2020

Elites have more control then we thinkNo matter where you fall on the political spectrum, you probably agree that the global elite have too much power and influence. It has been said that “money is power”, and today that seems to be more true than ever. Those at the very, very top of the pyramid dictate the rules of the game for the rest of us, and there isn’t too much that the rest of us can do about it. When we talk about how the global elite dominate our lives, the focus tends to be on how they influence national governments, but the truth is that is one of the areas where the global elite have the least control. I know that may sound strange, but I believe that things will become clearer by the end of this article.

I would submit that corporations are the primary vehicle that the elite use to control our lives. In fact, many global corporations are now larger and more powerful than most national governments, and collectively the network of global corporations that dominates the planet is far larger and far more powerful than any single national government.

A number of years ago, a remarkable study was conducted that closely examined the interconnecting relationships of major corporations all over the world. That study discovered that a network of 1,318 enormous companies dominated the global economy, and it also found that 147 colossal corporations at the core of that web formed a “super-entity” that controlled 40 percent of the entire network… More…

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Quotable Sayings

nothing can stop a determined soulThere is no chance, no destiny, no fate that can circumvent or hinder or control the firm resolve of a determined soul.

Ella Wheeler Wilcox

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billionaires don't EARN money, they MAKE money

You do not become a billionaire through labor. You become a billionaire through inheritance, corruption or economic rents – or, in most cases, some mixture of all three.

Grace Blakeley

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same puppet master pulling strings on both sides

Mainstream American liberals think they’re clear-eyed because they can see the propaganda strings being pulled by Fox and Donald Trump, and mainstream American conservatives think they’re clear-eyed because they can see the propaganda strings being pulled by MSNBC and the Democrats, but the propaganda strings on both trace back to the same puppet master. And seeing that is just the beginning.

Caitlin Johnstone

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discover your infinite worth

You alone are the judge of your worth and your goal is to discover infinite worth in yourself, no matter what anyone else thinks.

Deepak Chopra

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main stream media propaganda

It is obvious that the US government is destroying Assange to signal to journalists the consequences of publishing information. It is therefore also obvious that any journalist who fails to use whatever platform they have to speak out against Assange’s persecution has no intention of ever publishing anything that the US government doesn’t want published. Their silence on or support for what is being done to this man can and should be taken as an admission that they are nothing other than state propagandists.

Caitlin Johnstone

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Britian's Orwellian tactics against Julian Assange

It’s quite fitting that the – imperially pre-determined – judicial fate of Julian Assange is being played out in Britain, the home of George Orwell.

Pepe Escobar

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More Quotable Sayings

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How is it that we were taught to fear witches, rather than those burning them?

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

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