There are now Bankster Sharks in the Water...

In his New York Times column, economist Paul Krugman is ringing the warning bell and saying we are in the early stages of a “third depression.” “This third depression,” he writes, “will be primarily a failure of policy” as the world’s leading governments focus “about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.” It's truly bizarre to watch country after country across Europe fail to learn the lessons of the past and hang tight to the economic policies of Herbert Hoover and Milton Friedman when both have been tried - and failed - repeatedly in countries all over the world over the past 80 years. The only reasonable rationale for why these national leaders are willing to destroy their social safety nets, throw their working people into serfdom, and drain the resources of their tattered middle classes to reduce their national debts is that - unlike other times in the past - there are now sharks in the water. Those sharks are the banksters, liberated in 1998 and 2000 by Phil and Wendy Gramm and Bill Clinton, Larry Summers, and Robert Rubin. Now that the banksters have been deregulated and can run trillion dollar gambling casinos, one of their easiest targets are the countries that have a lot of debt - just like the corporate raiders and so-called "private equity" companies look for companies with lots of debt to take down, disassemble, fire all the workers, and ship the jobs to China. Because these bankster sharks are now fully empowered in the waters of international finance, the traditional tool used to get countries out of Depressions - stimulative spending funded by debt - places a country at a huge risk of a shark attack (known in banking as a naked short attack), which can quite literally destroy the economy of a nation. Until the banksters are brought to heel, the wealth of nations will continue to collapse while the wealth of the banksters themselves will continue to explode.

Comments

Bruce Leeroy's picture
Bruce Leeroy 10 years 13 weeks ago
#1

Whomsoever has the Gold, makes the rules. Thus the impending global governance as the bankstas have spoken and World Government is the new rule that is coming down the pipeline- "LET'S GET READDDDDDYY TO TREMBBBBBBLLLLE !!!

Absent some violent upheaval from the peasant class, what other viable alternatives are available that would curtail the demonic agenda of these financial juggernauts?

CARL OLSEN's picture
CARL OLSEN 10 years 13 weeks ago
#2

Dear Louise Hartmann,

During this morning's show Thom talked about a book of Republican (history?) explaining how the Republican's saw the middle class (mid-1900's) becoming a problem and moved to block their up-ward mobility. I missed the name...can you please help? C.O. e-mail olsencarl@comcast.net.

SamandFam's picture
SamandFam 10 years 13 weeks ago
#3

Just keep on runnin for the gates of the city!

Foxxed 2 Death's picture
Foxxed 2 Death 10 years 13 weeks ago
#4

There is no hope. In an interview with Naomi Klein regarding Larry Summers and Canads's former finance minister, Paul Martin, our fate was thusly sealed by these two greedheads:

'...their story is that they wanted to make a list of the countries that they would invite into this club, and they couldn’t find a piece of paper, so they found a manilla envelope and wrote on the back of the manilla envelope a list of countries. And by Paul Martin’s admission, those countries were not simply the twenty top economies of the world, the biggest GDPs. They were also the countries that were most strategic to the United States.'

One may access this interview here:

http://www.democracynow.org/2010/6/28/naomi_klein_the_real_crime_scene

No mention of severe beatings or the torturing of independent journalists in corpocracy media. They label protesters as "anarchists". I was once an idealistic activist with much hope for humanity, but we are doomed.

Trump is Broke: Has He Already Sold Out America To Get the Money He Needs?

Thom plus logo Back in the day, Donald Trump's niece alleges, he stole hundreds of millions of dollars from his father's estate, screwing his other family members and the IRS (you and me).

He then went on a massive spending binge, pouring that money into airlines, steaks, vodka, Trump-branded games, casinos, a fake university, etc. Virtually all of them failed, and he experienced multiple bankruptcies.
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