Funniest headline this year: Obama, Romney both say the other guy is ‘out of touch’. Each lives in a bubble world where the bad things happening outside are not touching them, personally. Everyone in the EU and NATO alliances are pointing fingers at each other as one credit bubble, bond bomb blows up after another. The cure being panhandled around the world is more money printing, more debts and more spending. But alas, when credit/debt bubbles blow up, they can’t be easily fixed…this is why bankruptcy was invented in the first place.
After screwing up everything totally while claiming to be ‘rich’ and ‘prosperous,’ many deep in debt societies and their bankrupt government leaders are scratching their heads. I remember vividly the bubble years. People were told to tap into the sudden rising credit in their homes and invest the debts in stocks and this would make them all Facebook billionaires.
This foolish idea was peddled on the finance pages of everyone from the Wall Street Journal on down. My warnings about doing this foolish thing fell on deaf ears. Ditto, my warnings about wars, national debts and running trade deficits all at the same time meant future bankruptcy. So, we have these Bilderberg geniuses meeting sort of openly at the latest G20 summit to try to figure out how to make the peasants pay for the financial war messes while not causing revolutions, overthrowing of governments and more wars at home: G-20 summit: How to contain a global economic crisis? – The Washington Post
Leaders of those and other major nations will gather in Mexico next week for the annual meeting of the Group of 20, an organization intended to serve as a sort of steering committee for the world economy. The group proved its mettle in the wake of the Lehman Bros. collapse, when summits in Pittsburgh and London produced a global round of stimulus credited with staving off an outright depression.
Since that example of crisis-driven coordination, however, nations have pushed their own agendas and, with the economy appearing to heal, deferred more to local politics. Germany championed a global round of deficit-cutting that now seems ill-timed; the United States sniped at China over its currency and other policies, and Brazil sniped at the United States for printing what it called too much money.
The rewriting of history is a continuous process. The WP is a major Zionist war propaganda operation. So, the entire US/UK media machine which is mainly run by Zionists, have been screaming at Syria especially with the latest, the use of children as shields. They obviously forgot how they, themselves, used children as shields in Operation Lead in Gaza. That was OK and the report by the UN condemning this was attacked by the same papers and politicians who are screaming at Syria for copying the IDF.
The lust to drive us all into yet another war is huge! The costs…ignored. The goals: make Jews happier. This insane policy is happening with both US candidates yelling about how they want to save Americans and give us jobs. Doing what?
Killing Muslims! Isn’t that grand? One thing is certain, every time the price of oil shoots upwards, the industrial nations suffer inflation and recession at the same time. The US embargo of Iran has produced exactly that and instead of removing this stupid embargo, the US continues pushing us to higher oil costs which destroys our own economy: U.S. Exemptions From Iran Oil Sanctions Leave Out China – NYTimes.com is funny because the boycott is falling apart:
Secretary of State Hillary Rodham Clinton announced that the administration had issued waivers to India, Malaysia, South Korea, South Africa, Sri Lanka, Turkey and Taiwan. They joined Japan and 10 European countries that the United States had previously said would be exempt from sanctions for six months.
“Today’s announcement underscores the success of our sanctions implementation,” Mrs. Clinton said in a statement. “By reducing Iran’s oil sales, we are sending a decisive message to Iran’s leaders: until they take concrete actions to satisfy the concerns of the international community, they will continue to face increasing isolation and pressure.”
Still, the absence of China from the waiver list indicates the hurdles the administration faces in persuading Iran’s largest customer to curtail its purchases. And it sets up a potential collision with China, which along with the United States is a member of the group of major powers that is negotiating with Iran over the future of its nuclear program.
So, China is supposed to screw up their own economy for Israel? Ha. Won’t happen. Note how nearly all of NATO is skipping the boycott, too! As is Japan. Obama told the Zionist media he is a man of peace and is going to stop nuclear proliferation even though the news that Germany sold nuclear subs to Israel who is putting nuclear warheads on these…is proliferation. Proliferation by Jewish warmongers is OK. Proliferation by any Muslims is evil.
Meanwhile, the hysteria in Europe is growing as the Europeans figure out there is no more easy living and that the crisis is coming home to roost due to the spending bubble popping. The EU is identical to Japan back when the yen suddenly was much stronger against the dollar. Real estate in Japan shot through the roof and Japanese toured the world buying up everything they saw, driving up prices of luxury goods and real estate. Then it popped. The euro became much stronger than the yen, yuan and dollar for five years. Now, the crash has come. No longer do EU citizens travel the world having fun. They are stuck at home more and more and the euro is dropping in value.
Here is a German magazine reporting what foreigners in deep in debt UK and US are saying: The Germans Have Learned Nothing from History – SPIEGEL ONLINE
The way out of this crisis seems clear.
First, there needs to be a program of direct recapitalization — via preferred non-voting shares –– of euro-zone banks both in the periphery and the core by the European Financial Stability Facility (EFSF) and its successor the European Stability Mechanism (ESM). The model should be the US’s successful Troubled Asset Relief Program (TARP).
The current approach of recapping the banks by the sovereigns borrowing from domestic bond markets — and/or the EFSF — has been a disaster in Ireland and Greece. It has led to a surge of public debt and made the sovereign even more insolvent while making banks more risky as an increasing amount of the debt is in their hands.
Direct capital injections would bypass the sovereign and avoid the surge in public debt. In practice, the euro-zone taxpayer would become a shareholder in euro-zone banks and the current balkanization of banking would be partially reversed. This might also help overcome the political resistance to cross-border mergers and acquisitions in coddled domestic banking systems.
Of course, over time, sound banks that restore capital through earnings would be able to buy back the public preferred shares. So this partial nationalization would be temporary. Second, to avoid a run on euro-zone banks — a certainty in the case of a “Grexit” and likely in any case — a EU-wide system of deposit insurance needs to be created.
HAHAHA…copy the tarp program! Right! It was like the tarp thrown over the Fukushima #4 reactor: cosmetic. True, there was a bail out…of the richest bankers on earth. They continue to ravage the world and meet in secret at Bilderberg meetings and continue to control EU and US governments via bribes.
Note the ‘nonvoting shares’ the public will be forced to buy via their central banks: you have no say and the power of choice is left with the bankers who created these stupid bubbles in the first place! This is why the ‘solution’ is stupid: no one is punished, there is no moral hazard and the victims forced to recapitalize the banks have no say in what the super-rich bankers do in the future.
Once the danger is over, the bankers will take over and continue looting us. Isn’t that a great solution? Meanwhile, the IMF Head Lagarde Warns Time Running Out for Euro Zone – SPIEGEL ONLINE
As the focus of the euro crisis shifts to Italy, IMF head Christine Lagarde has warned that European leaders have less than three months to save the euro. Meanwhile top economist Nouriel Roubini has called on Berlin to drop its obsession with austerity, proposing that the German government give every household a 1,000 euro voucher to spend on a vacation in Southern Europe…
Roubini said the “obsession with austerity” had to end, arguing that governments should lower taxes and raise wages. “Europe needs growth,” he said. He proposed that the German government should issue every German household a €1,000 ($1,250) travel voucher which is only valid for a vacation in the crisis-hit countries, in a bid to stimulate the local economies. He also suggested German should introduce tax breaks for people who buy vacation homes in Southern Europe.
How, pray tell, will wages rise? We could install trade barriers. We could strengthen unions. We could raise the minimum wage…exactly what the rich hate! They want none of this! Since they control the governments, they will get what they want: more loot for them, more peasant suffering for the rest of us.
As for the ‘go on vacation’ solution, why not have everyone get a million dollars while taxing the rich at a 90% rate? Then we all will have lots of money to spend and the rich will have no money to buy governments. HAHAHA. Occupy Wall Street solutions! This is why the cops were unleashed on the demonstrators.
As usual, the hypocrites running our banking system do this: Yen eases on IMF intervention comments whereby the Bilderbergs gave the Japanese elites permission to print yens to infinity. But 1,324 Fukushima citizens file criminal complaint against TEPCO, gov’t and I hope they win. While Japan yaps about how they are suffering, their politicians are really yapping about this: Lawmakers push gov’t to get tough on Senkakus dispute ‹ Japan Today: Japan News and Discussion
“Chinese diplomats have already talked to Japanese officials and warned them not to carry on with farces like that,” spokesman Liu Weimin said at a daily media briefing in Beijing.
No decision was made at Monday’s parliamentary hearing, but several speakers expressed support for an onsite study.
“We need to promote the development of the islands and the possibility of having people living there,” Taro Kimura, a conservative lawmaker, told the hearing. “I support government approval for these missions.”
A huge hunk of eastern Japan, prime fish/farmland has been totally destroyed by tsunamis and nuclear disasters…and all the Japanese leaders care about are some distant uninhabited islands! And the US backs this because we want fighting with China forgetting that Japan never paid a yen in reparations to China. Japan is in the wrong here but the US supports this just like very wrong things are supported elsewhere.
Global warming people are furious that Chinese people are getting some of the goodies we take for granted. Even as the IMF and Roubini and others call for Germans to go on vacation, China says it is going to build 70 new airports by 2015 ‹ Japan Today: Japan …
Civil Aviation Administration of China (CAAC) chief Li Jiaxiang also reiterated pledges that carriers would buy on average more than 300 planes a year from 2011 to 2015—the country’s current five-year economic plan…He added that the number of airports would reach more than 230 by the end of 2015, and that Chinese carriers would operate around 4,700 planes by then.
This is the problem: as a billion Chinese move up the economic ladder, the EU and US want them to stay in the cellar and only work as peasants making cheap stuff for us, not to live like us. Meanwhile, we all are supposed to eat, drink and be merry via capital infusions and money printing by the central banks which will then demand we cut our pay and lose our pensions in the future while we pile debts on our kids especially school debts. The G20 meeting will be most interesting…as a joke.
The joke will be on all of us, conditions today are aping 1914 more and more.
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