The IMF announced today that the global economic recovery is in danger...
By louisehartmann
The IMF announced today that the global economic recovery is in danger. Citing mounting opposition across Europe to austerity measures – and the failure of the US government to find a way to raise the debt ceiling – the IMF cautioned in three newly released reports that the entire world could slip back into financial instability.
The report reads, “We have entered into a new phase of the crisis that I would term the political phase, where hard political decisions need to be made because the window for substantial policy action is closing. Time is of the essence.” Austerity measures are threatening to take down the Greek government where tens of thousands of protestors have rallied in the streets and gone on strike brining the European nation to a standstill.
And in the United Kingdom – where austerity measures have already been implemented by the government – the economy is shrinking.
Comments
#2
Here are a few important articles to read.
Attack on workers hinders growth in the economy!!!
http://www.opednews.com/articles/America-Once-the-Most-Res-by-michael-payne-110615-351.html
What happened???
Our rotten political system!!!
#3
WHAT A COUNTRY!!!!! David Vitter receives a standing ovation from the GOP (guardians of privilege) and the Democrats shit on Weiner. Weiner is out and Vitter is still in Congress. Do the voters of Louisiana embrace with pride - adultery??? We are a country of hypocrites and with double standards!!!
#4
Raising the debt ceiling is NOT an austerity program....it's a debt increase program....it's that simple!...
When your family has to implement an austerity program to save money for ______ ( whatever reason) you don't solve the problem by getting 5 more credit cards and start increasing your spending...
Either we bite the bullit today and "pare down" our lifestyles.....or stay greedy and pass it along to our kids and their kids and their kids....
#5
@5 - bvcardinal
Don't make the usual con mistake of thinking a governments finances are the same as your family checkbook. But that's where these cuts will come out of, you can be sure of that.
OF course the countries implementing the IMF's austerity measures have shrinking economies. First they've put all the $$$$$$$$$$$$$$$$$$$$$$$$$$ into the hands of the fat cats who are hoarding it, ( bankers, Insurance corpse, the obscenely wealthy, etc)and now they want to take whatever they can get away with from the people they've impoverished.
What does this mean other than suffering for the little people? It means that there is NO money circulating in the economies. If no money is circulating there is no buying and capitalism comes to a standstill.
The IMF has made a mistake translating their usual Shock Doctrine tactics onto the world stage economy. It may have worked in small economies like Chile and maybe will work in Greece, but it's not ready for prime time of anything except total global economic collapse. and another global depression. Maybe that's exactly what they want and they "Doth protest too much"? Ya think?
#6
The way to fix the economy is so simple it's pathetic. The GOP (the Republicants) like to say that the only way is to cut programs. But, they are targetting programs that that vast majority of people want to keep. They also want to keep roads, police protection, public parks - you know, all those socialist programs. But, if we simply acknolwedge that people want to keep programs, then you simply increase taxes to pay for them. The biggest problem comes from the fact that no one really likes paying taxes (just as, if they could, they'd get their electronics, food and cars for free), and the debate goes public over who gets to opt out to one extent or another. We could bring much fairness back by getting rid of the tax cuts to the wealthy, cutting the majority of tax loopholes and eliminating tax breaks for churches.
It's also interesting that no one is talking about cutting programs that the majority of the public DON'T want, like the drug was. There does seem to be some additional impetus behind legalizing and, perhaps, taxing (as we do with liquor), but why is that not on the table currently?
#7
Raising the debt ceiling is for paying for what we've already spent, not for what we're going to spend in the future. Raise it, then spend our money to grow the economy/tax base with new jobs, then tackle the deficit once the economy is robust again.
These things are tough to do with republican controlled house attempting to further damage our economy in order to hang the blame on Obama, but that's how it should be done.
#8
Just the fact that our elected officials are seriously talking about letting this country default on our debt means we have already lost. Other nations will take note of this, we are on longer world leaders, just deadbeats.
#9
I have to say that I am SO relieved that the IMF is saying that the world's financial situation is serious. And they should know, because they are the organization that has, for decades, been singlehandedly responsible for destabilizing the economies of many countries, countless attacks on and displacements of innocent indigenous peoples around the world, and installing and supporting dictatorships in third world countries so that people in those countries could be used as serf labor for multinational corporations. Thank you, IMF, for stating what was already painfully obvious to the countless people whose lives you have harmed.
#10
We need to change a great deal of our whole economic system if we are to get through the next 15 years. I and members of my local Green Tea Coffee Party call for the following:
Monetary Reform: Take Back our Federal Reserve by making it a U.S. Government Agency (not owned by Private Bankers!). In order to place money into circulation have the U.S. Public Federal Reserve print limited quantities of currency to purchase needed public infrastructure including clean, green, energy. This reform has been proposed by Congressman Kucinich and the American Monetary Institute.
Energy Reform: Quit subsidizing fossil fuels and other polluting forms of energy production. Put this money into basic research and development of the most promising of clean, green, renewable energy sources such as with Thorium and Liquid Fluoride Thorium Reactors. (List of our top 10 most promising - but needing funding - technologies here will be coming soon.)Take back our Democracy by passing an amendment to the Constitution that makes clear that Corporations are not people and do not have the same rights.http://reclaimdemocracy.org/political_reform/proposed_constitutional_amendments.htmlTax Reform: Employ Synergynomics*. Take the best of free-market capitalism and social justice economics and add them together to get a synergistically advanced society. Quit punishing people for hard work by taxing their labor or business enterprise. However, place a user fee on the pollution, depletion or monopoly of Earth's natural resources. This will encourage authentic work, encourage conservation of our Earth's natural resources, stimulate investment in resource conserving technology, and free up access to natural resources from corporate monopoly control to individuals and small business enterprises.Recognize the separation of two different kinds of Property: Private and Common. Private property includes people's labor and fruits of their labor. Private property should not be subject to taxes. Common Property is all natural resources and opportunities that have not been created by human beings. User fees should be placed on the use of Common Property according to its rental value and used to pay for essential government services and to provide a Citizen's Dividend or Earth-Share to all citizens in equal amounts.End the "War on Drugs": Adopt the Portugal model that takes the money out of the drug war but puts it into making treatment available to all who need it. *Synergynomics is my own neologism.PJ
#11
I find it typical that those least in danger of the effects of austerity are the ones who advocate it's implementation. I agree measures must be taken but it will require a world wide change of heart. I'm not holding out for that as reality. The reality of the boom and bust cycle of out of control capitalism is a broken system. What happens next will be a revolution in economic thinking. That revolution can be good with widespread positive changes in capitalism, or it can be a dismal disaster beyond our most horrific imaginations. As always implementing programs for the poor and middle class will be labeled
socialistic, and free market capitalists will waiver any kind of regulations and thus prolonging this disaster. Economics has a great impact on how each and every person enjoys democracy. This idealistic dream is best enjoyed by all on a more level playing field. While wealth and opportunity should not be banned, we must also insure the privileged do not turn democracy into a despot. Democracy is still very much an experiment in social integrity and justice which recently has failed because of capitalistic exploitation. Capitalism exist by the grace of democracy and not the other way around.
Call me a dreamer but I don't feel "upwardly moblie" is a fair description of freedom the same as I don't feel impoverished is a fair description of freedom. We must be smart and allow democracy to work for everyones advantage and perhaps a bit of socialism can share some of the grace capitalism has enjoyed. I think a lot of ideals and philosophies enjoy a place under democracies umbrella within the constitution. We have barley begun to realize the full potential.
#12
One way out would be to pretend we have a Democracy and simply honor the wishes of the vast majority.The polls clearly show a mandate to end the Bush tax cuts and the Cheney wars. Also contrary to what the radical "Ryan-Bags" want, polls show that only 4% would cut medicare and 3% social security. In addition history shows that Govt. spending at the bottom as in 8 million Americans put back to work via WPA projects turned non-consumers back into consumers thus helping pull us out of the last great depression. Single payer health insurance would save boatloads of bucks as well.
When do you think the following comments were made?
"Not a single thin dime of concentrated, bloated, pompous wealth, massed in the hands of a few, has trickled down to relieve the masses."
"They've got a set of Republican waiters on one side and a set of Democratic waiters on the other side, but no matter which set of waiters brings you the dish, the legislative grub is all prepared in the same WALL STREET kitchen."
Huey P Long .... 1930's....... Why must we endure the same ugly history time and time again?
#13
#14
Watched part of Michele Bachmann's speech today. A couple of thoughts from her speech: we learned important political facts from the recent Republican "debate", such as who likes American Idol or what kind of pizza the candidates like. Very important stuff. Second, she gave President Obama a grade of F on the economy siting several measurements. Everyone's share of the national debt rose from $35000 in 2008 to $46000 today, gas rose from $1.91 to $2.83, and gold rose from $800 to $1500. By my count, my share of the national debt fell from 40 oz of gold to 30 oz or from roughly 18000 gallons of gas to 16000 gallons. Not the most accurate ways to measure the debt, but she chose the terms.
Obama is not the problem with our economic recovery, the Republican party that made their stated first priority to stop Obama, and thus the country, from succeeding is the problem. We need government that will allow the economy to grow and create jobs, not one that wants to crush the current president at all costs.
#15
@KentHalsey, thank you for the pertinent words! Was it Lincoln who said, "A house divided cannot stand."? I do not like being a naysayer but as I reflect on country's future, I see doom and gloom.
I have shared with Thom's commentors that I want for our home where laughter and a sense of humor are important. I believe that we have such a home.
Advanced Degree
Our youngest son looked at my undergraduate degree transcript several years ago and he felt that I needed an advanced degree to improve my credentials. Here is his list of courses for an advanced degree.
Possible advanced degree for Dad
Football Techniques 3 credits
History of American Television 4 credits
Future of American Television (Seminar) 1 credit
Advanced Nose Picking Techniques 4 credits
Introduction to Lighting Farts 4 credits
Art of Bowel Movements (Lecture) 3 credits
Art of Bowel Movements (Laboratory) 1 credit
20 credits
Project: Influence without Nagging 12 credits
32 credits total
#16
Why is it global danger when the world has been ripped off? They mean, Global Heist. Luxury is oozing out of the crevices while the regular population must take on austerity. Why should we believe this malarkey?
Home again? Follow the golden brick road. The Wizard was carried to the Emerald City from the Mutual of Omaha State Fair in a hot-air mortgage balloon. Omaha is home of the Mutual of Omaha Union Pacific Railroad and Harrriman's secret stash of Pepsi-ReMAX Balloons. Ozma, or Ozmaha, is a wise ruler, or measurer of things. The Wizard we can think of as FDR- a very good man, but a very bad (financial) wizard. He had it in his power to go back from whence he came, and Dorothy's zapatas, specifically the heels, got her back to the farm.
In 1912 the newspapers stated that "Omaha implemented its first 99-yr. lease."
This is 2011. I say we should be watching all parties involved in financial transactions generated from securities of 1912 very very closely and analyze every move they make. It is time to string together G-Men with the Facts.
XXXXX
#17
The Way Out- by R C Duff, 1912, Galveston Daily News
"What can be thought of the intelligence of any man who stands for the Idea that Texas railroad mortgage bonds for millions of dollars, bought In good faith, and held now by such concerns as the great life Insurance companies of this country, by savings banks, trust companies and estates? Issued under and entirely In accordance with the laws of Texas when there was no stock and bond law, should now be repudiated and destroyed under the stock and bond law, and,at the same time expects those same railroads to be able to sell to the same or similar people second mortgage bonds on the same properties, which, so far as the investor can see, may hereafter- HR readily be repudiated and confiscated under some law hereafter to be passed, once more reducing the limit for borrowing purposes? ....
Suppose the mere naked right to Issue more bonds for Improvement purposes were enacted by the legislature. What would It avail? The old mortgage could not be opened up to give the new bonds equal standing with the old bonds, and the new bonds would be unsalable If put out under a junior mortgage, subordinate to the old...
What Is the recourse? There is but one~-the same recourse resorted to everywhere else in the world—to make a refunding and consolidated first lien mortgage for an amount equal to the orlglnal prlor lien bonds plus the amount of the new Issue desired for Improvements, setting Into the treasury an amount of the new bonds sufficient to take care of the old first lien bonds at par when they mature, and selling the surplus bonds to get the money required for Improvements. When the old bonds mature the part of the new series held to retire them will Issue in their place, the 1st mortgage will be cancelled, and the new refunding and consolidated mortgage will become a first lien. This practice obtains throughout the world..."
So, that is how it was up to that point of Omaha's First 99-year lease. Because leases are then used as securities to be paid in anticipation of earnings on the lease. This trick of accounting has enabled the First Lien Holders, who have clandestinely arranged from the beginning to own everything, access to free credit beyond belief, guaranteed timed acquisitions, and the ability to grab, grab, grab, beyond the intention of the law, and now to the point tyranny over the world.
When they foreclose, they only foreclose on themselves, and they buy themselves back at auction after stripping off innocent investors. Everything we need we are buying from the First Lien Holders (FLH). Many things we are forced to buy from them whether we want to or not. Worst of all, it is more expensive to be poor, and the rich get more for free.
I don't see why this is so hard for our scholars and pundits to say, frankly.
All we need to do is look to our First Lien Holders of 1912 for the Truth that sets us free, says R.C. Duff- who was actually there.
XXXXX
#18
Raising the debt ceiling is all the greedy, stupid and selfish manipulators of the gambling halls of Wall Street have left for our beloved country.
We are at the mercy of Republican "thinkers" and Ayn Rand devotees who view her neurotic novels as a field guide to conquering our national politics. For decades the financial owners of the GOP have had it in mind to establish a ruling party - and many earnestly believe that Calvin was absolutely right, and Jesus badly mistaken about personal and public ethics. And Milton Friedman is their author of the gospel to which these extremists subscribe. Corporations owe no duty, they believe, to any but their shareholders. Those who are wealthy have been blessed by God and that wealth proves their foreordained salvation, no matter what choices they make about behavior. It is a variation on the theme of divine right, as in how the monarch becomes ruler in his or her turn, by right of birth, not talent or good character.
Republicans don't see their duty as being to, "the people". The real problem with raising the debt ceiling is that it's a poor substitute for imposing a system of income tax rates that was in place when Ronald Reagan was president. The people with the money aren't investing their wealth in productive enterprises. They use their political influence to force down wage rates, and they decimate our national capacity to make the things we need here in the name of endlessly larger profits held in accumulating unproductivity.
When your family has to accumulate more money, the adults do what is needful to acquire more income. They don't tell the kids to water down the milk to make it go further. And since the early decades of the 20th century, they don't send the kids to work to make up for the paltry wages the adults can earn when management controls the economic choices absolutely. But if the schools are driven to ineffective disarray by the dropping income available for public costs derived from failing property values and dropping personal incomes, we could see a return to child labor.
When will it be time to name the beast that threatens to destroy the American dream utterly in the interests of establishing total political control ?
#19
Here is a quote from America's greatest living writer:
The rich are the most discriminated-against minority in the world. Openly or covertly, everybody hates the rich because, openly or covertly, everybody envies the rich. Me, I love the rich. Somebody has to love them. Sure, a lot o’ rich people are assholes, but believe me, a lot o’ poor people are assholes, too, and an asshole with money can at least pay for his own drinks."
Tom Robbins, Jitterbug Perfume
#20
'Over time whoever controls the money system controls the Nation." This is a quote by Steven Zarlenga who is Director of the American Monetary Institute.; see www.monetary.org. The AMI has a plan for America to reform its monetary system. Rep. Dennis Kucinich introduced H.R. 6550 last Nov. called "The National Emergency Employment Defense Act" of 2010 which would accomplish the reforms of the AMI. Basically it would bring the Federal Reserve under the U. S. Treasury Dept. and restore the authority of Congress to create and regulate money. Second it would end the fractional reserve system of private banks creating money thus ending the debt based money creation system. The Federal Government would create money and spend it into the economy. I would encourage those interested to visit AMI's site. Rep. Kucinich's bill can be read there as well as the history and information of money systems and why reform is so necessary for a just and sustainable money system for Americans.
Sincerely, MH
#21
Lacking in Harmony
I have a sister-in-law who will not criticize Israel because she sees Israel as a Jewish state. To criticize Israel is like criticizing Jesus, a Jew. There are Americans who will not criticize America because they see America as a Christian state. To criticize America, a Christian state, is to criticize Jesus. Both are wrong because America and Israel are governments. Both governments are evil. They embrace crises and disharmony. The America government, the rich, the politicians, and the transnational corporations cling to crises and disharmony in order to have their people distracted from the real problems that confront their daily lives.
America is evil, vile, and wicked. America is not good, holy, and saintly. There is a symbiotic relationship between Israel and the United States of Mortal Sin, aka the Anti-Christ, in their similarities of being evil, vile, and wicked in their treatment of God’s children.
#22
GENOCIDE in AMERICA
I have been reluctant to give you this comment and prediction but we are facing dire and foreboding times in the United States of Mortal Sin. The enclosed words have been revealed to me and I wish to share these words with you.
We know that the billionaires and the GOP want to destroy the unions and the American middle class. Destruction of these cornerstones in America will give the billionaires and GOP total control of our elections to never again be out of office and power. I believe that the billionaires and the GOP are actually orchestrating a more devious and demonic plan. Their plan is the genocide of the poor, average, middle, and working classes in America. We also know that they can be bought and they can also rig our elections but these efforts will cost money. It is imperative for the billionaires and the GOP to leave the impression of being fiscally responsible by saving money. Genocide is an easier way to save money.
Genocide will take place with the billionaires buying out our public utilities and corporate farms to raise our utility bills and to create food inflation that will take away earned money and systematically starve Americans and have Americans die from lack of heat in the winter and bake to death in the summer.
Make no mistake that the billionaires and GOP genocide of Americans is well planned. The new immigrants entering America will be enslaved, impoverished, and lacking any say in their future. They will be the drones and the serfs for ten percent of Americans who will control them. GENOCIDE OF AMERICANS IS HERE and its impact will be obvious in 2012 with a tsunami depression. For Americans without health care the genocide has been well underway for three decades.
#23
Christians Cannot Be Conservatives
CAN ONE BE A CHRISTIAN AND A CONSERVATIVE AT THE SAME TIME?
Two Thousand years ago in the midst of the Conservative, Militantly, Bellicose, Roman Empire and the parallel Rule of the Ultraconservative Conservative Herodian Kings and Priests, where the death penalty was a broadly used as it has been in Texas and Florida since the Bush advent therein, there came a man who opposed all of that for which they stood. He opposed the death penalty and much forgiving of sexual sins. (The woman caught in adultery John 8:1-11)
He despised greed/avarice which the Bushites Gekko say is Good!. Luke 16:19-31 The avaricious rich man
He opposed violence of any sort; he was by his own admission, "meek and mild." He advocated tolerance and acceptance of others. He offered free health care to any who approached him.
He also refused to condemn or judge others except for the rich who were avaricious and the hypocrites. He opposed judging others, a prime factor in the Bush administration IS judging others Luke 7: 37-42- judging others
He was dismissive of sexuality as a major judgmental concern. Luke 4:4-42 Samaritan woman at Jacob's Well
Jesus was, by the definitions, condemnation and attacks on Liberals by the Bushites and the "Christian" Right, a "bleeding Heart Liberal." They are indeed correct, because in his opposition to everything for which The Conservative Roman Empire and the Ultraconservative Conservative Herodian Kings and Priests, stood Jesus was and remains a Liberal. There is no way the Church can, without being hypocritical wriggle its way around the reality that one cannot be a Christian and a Conservative, any more than one can be a Christian and support the slaughter in Iraq (A nation 12 times smaller than the USA, and lacking air force and navy at the time of the invasion), and the planned slaughters in Iran, and Venezuela.
Therefore, begs the question, CAN A PERSON BE BOTH A CHRISTIAN AND A CONSERVATIVE?
#24
The right propaganda is that it is the fault of the left. The left propaganda is that it is the fault the right.
The truth is that the public wants a socially responsible free enterprise system free of corruption .
Propaganda from Corruption left and right sets the voter one against the other in the blame game to the effect that it is the voter that is to blame rather than leadership which is corrupt on both sides.
In short regardless if the right or the left assembles in protest to corruption , rather than the corrupt facing their just dues they direct the voters to hate one another rather than focus collectively in public assembly and protest to obvious corruption driven by power, ego , and out right greed.
The truth is that the public wants a socially responsible free enterprise system free of corruption .
We as disenfranchised voters on both sides can do better and we should do better, we are trying to do better and we need to continue to do so.
JMHO
#25
Right on, Gerald, and Amen to what you said!
#26
If we can take a few minutes to reflect on these words, Can a Christian be a Conservative, we will note a perfect person in Jesus. Who in their right mind would not want to be with the Son of God for all eternity? Who would choose not to live in the perfect environment of love, mercy, and forgiveness for all eternity? When we embrace Jesus and His value system and His words, we will live in the perfect environment for all eternity. We only need to ask Jesus to be our friend. His friendship is for our asking.
http://www.youtube.com/watch?v=CLAg2NDcOt4&NR=1&feature=fvwp
#27
We need to remind ourselves of these words!!!
Religion Can Counter Terrorism, Says Holy See
Vatican Addresses U.N.
NEW YORK, MAY 12, 2006 (Zenit.org).- Religion should be the solution to terrorism, not its cause, says the Holy See.
Archbishop Celestino Migliore, the Holy See's permanent observer to the United Nations, said this Thursday during informal consultations on counterterrorism during a General Assembly session.
"Religions are called to create, support and promote the precondition of every encounter, every dialogue, and of every understanding of pluralism and cultural difference," the Holy See official said.
"That precondition is the dignity of the human person," the archbishop added. "Our common human dignity is a true precondition because it comes before every other consideration or methodological principle, even those of international law."
It is the "'golden rule,' found throughout the religions of the world," he said. "Another description of this concept is reciprocity."
Archbishop Migliore continued: "Encouraging awareness and experience of this common heritage within and among religions will surely help in the translation of this positive vision into political and social categories which will, in their turn, inform the juridical categories linked to national and international relations.
"The Holy See is willing to support initiatives that encourage believers to be agents of peace and join all those who would be builders of our peaceful coexistence."
True nature
"Moreover," the archbishop added, "When religion's true nature is rightly understood and lived out, it can become part of the solution rather than the problem, because it will promote humane engagement and regard for the dignity of others, to the common good of us all."
The prelate explained that Benedict XVI has invited "Catholics and all women and men of good will, to link their efforts to reflection, cooperation, dialogue and prayer, intended to overcome terrorism and build a just and peaceful coexistence in the human family."
To study the causes of terrorism does not mean to justify them, explained the archbishop.
"No cause," he said, "no matter how just, can excuse or legitimize the deliberate killing or maiming of civilians and noncombatants."
#28
There can be no silence!
Martin Luther King, Jr. from his jail in 1963 said, “We will have to repent in this generation not merely for the hateful words and actions of bad people, but for the appalling silence of good people.”
Cindy Sheehan regrets that she did not scream out at Congress and say, “Congress, don’t you dare abrogate your constitutional rights and responsibilities! Do not under any circumstances give the keys to our country to power-drunk, irresponsible, and reckless maniacs.”
When George said, “If you’re not for us, you’re against us”, Cindy Sheehan will forever regret that she did not phone and scream, “I am so against you and your repulsive policies, you self-important man. I am against killing innocent people and I am against you telling me it’s unpatriotic to be against you and your murderous philosophy!”
#29
@Palindromedary, I am very pissed at the direction of our country that is goose-stepping our people into the abyss of hell.
#30
We live in a country where BS is central in our thought processes!!!
http://www.opednews.com/articles/Ron-Paul-Champion-of-gree-by-Brent-Budowsky-110618-466.html
His motive is greed!!!
http://www.opednews.com/articles/How-and-Why-Is-a-Real-Demo-by-Richard-Clark-110618-640.html
Suppression is rampant!
#31
So it looks like the economy will collapse just in time for the next election cycle. But Goldman Sachs and the other hedge funds will figure a way to bet against the paper and win on the collapse then gorge themselves on the profits for the next upswing. The Hank Paulson / Chelsey Clinton crowd will come out fatter, but most of us will be begging for crumbs that fall down from the table. I wonder why Hillary is rumored to want to be president of the world bank.
Greece is collapsing because of exotic derivative paper and loans that cannot be repaid to Wall Street Bankers. Why don't we hear more about the role Goldman Sachs role in the demise of the economies of Greece? Or why don't we hear more about the the ongoing role of the Wall Street Investment Bank / Hedge Fund Gamblers in the near collapse of the economies of other countries like Ireland, Portugal, Spain, etc? Perhaps the "Too Big to Fail" bankers should be chopped into smaller pieces until they are too small to miss.
#32
Were Fake Accounts Used To Trap Anthony Weiner?
http://crooksandliars.com/karoli/were-fake-accounts-used-trap-anthony-we...
#33
Tiocfaidh Ar La! Sorry Thom but i think it might have to come to violence in order to save our country! I hope im wrong, but thats just how it looks!
#34
Geoark2000 is on the right track. Our problems require far more than a minor tweaking of this law or that tax policy. I would add to his list that we need to abolish the fraudulent practice known as "fractional reserve banking" and transform the banking sector into a publicly owned/operated utility. This is the only way to prevent the manipulation of the money supply by private banking cartels...and besides, under that system we would have no need of income taxes or the IRS. The government wouldspend the money it needs to operate into existence, interest free. The only reason for taxes would be to eliminate excess currency in the system...and as a tool to encourage investment of profits.
#35
Austerity measures and tax cuts will collapse the economy. But stop to think about what that means. Our global economy is based on growth to pay back the interest of money created by debt. This system is unsustainable and is destroying the biosphere. Any attempts by progressive to raise taxes and create spending programs would only help this economy wreck what remains of our natural resources. Maybe the greedy plutocrats are doing us a favor? Once they collapse the economy we'll be forced to create a "new economy" based on collaboration where sustainability, health, and happiness are maximized rather than profits. We can begin to nourish our souls rather than feed our appetite for entertainment.
You all must realize we can't continue on the same path. That's why they are trying to suck as much wealth out of the system while they can now. Sure, I would love for us to use this workhorse of an economy to build sustainable infrastructure now while we still have cheap energy with the plan of shutting off this economy as soon as possible. Until some progressives have the balls to suggest this idea and implement it I'm afraid collapse is the only way to wake people up. That said, let's pray that "Mad Max" is not our future.
#36
If one finds the time, it might be of interest to watch the documentary "Debtocracy".
It is produced by the audience and Aris Hatzistefanou, a well known journalist who lost his job refusing to accept an employer-mandated pay-cut. "Debtocracy" is funded by web contributions, it has become a "digital-samizdat" of the debt crisis, having been viewed easily over one million times already.
“Debtocracy” seeks the causes of the debt crisis and proposes solutions, hidden by the government and the dominant media; http://www.debtocracy.gr/indexen.html
#37
Hay Thom i know this is unrelated but please read this! http://republican-news.org/current/news/2011/06/shots_fired_at_st_matthews.html Some news about Ireland!
#38
The "model" the IMF uses has not worked, ever! They need to read Paul Krugman!
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Thom, great show today. This has nothing to do with the IMF, but relates to Ft Calhoun Nuke plant.
http://www.dailykos.com/story/2011/06/15/985281/-Attention!Ft-Calhoun-Nuclear-Plant-Flooding-DangerListen-toArnie-Gundersons-Concern