Imagine that you lend $1,000 to your neighbour, so that he can start a small bank.
Your neighbour foolishly lends $500 to a Russian, who plans to start a business clearing gutters.
Before the Russian pays back any money, he announces that his business has gone bust, and he disappears off to Israel.
Should you lend your neighbour's bank some more money?
According to Washington's Blog:
1. "Fraud was one of the main causes of the Great Depression and the Great Recession, but nothing has been done to rein in fraud today.
"And governments have virtually made it official policy not to prosecute fraud."
2. "The government also chose to artificially prop up asset prices … while letting the Main Street economy tank.
3. "And the trillions in central bank money never really made into the real economy, but were handed under the table to the fatcats.
"For example:
"The Fed threw money at .several billionaires and tens of multi-millionaires', including:
"Billionaire businessman H. Wayne Huizenga,
"Billionaire Michael Dell of Dell computer
"Billionaire hedge fund manager John Paulson
"Billionaire private equity honcho J. Christopher Flowers
"And the wife of Morgan Stanley CEO John Mack."
...
According to Washington's Blog:
"The Fed also bailed out wealthy corporations, including:
"Hedge funds,
"McDonald’s
"Harley-Davidson
"The Fed has been bailing out foreign banks … more than Main Street or the American people.
"The foreign banks bailed out by the Fed include:
"Gaddafi's Libyan bank
"The Arab Banking Corp. of Bahrain
"The Banks of Bavaria, Korea and Mexico
4. "Bad government policy has created the worst inequality on record … and inequality is an economy-killer.
5. Professor Michael Hudson - Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and economic advisor to governments worldwide - told Washington's Blog:
"The debts were left in place in 2008 instead of being written down."
Economics professor Steve Keen says: We'll have "a never-ending depression unless we repudiate the debt, which never should have been extended in the first place".
More here: Washington's Blog
World facing 'wave of epic debt defaults,' says economist who predicted Lehman crash
The Nobel laureate in economics Robert Shiller says that the US financial bubble is ready to burst.
http://on.rt.com/6r9b
Jobs are disappearing.
Major Companies Announce Job Cuts across Europe.
In 2014, a study by the European Union's Institute for Security Studies called for using military force to put down troublesome workers.
"Draconian security policies are being imposed across Europe."
The excuse is the 'war on terror.'
Why are stock markets in trouble?
"The world's wealthiest 62 people own as much as the poorest half of the planet's population."
"The richest 1% now own as much as everyone else put together."
Major Companies Announce Job Cuts across Europe.
In 2014, a study by the European Union's Institute for Security Studies called for using military force to put down troublesome workers.
"Draconian security policies are being imposed across Europe."
The excuse is the 'war on terror.'
"The world's wealthiest 62 people own as much as the poorest half of the planet's population."
"The richest 1% now own as much as everyone else put together."
The rich are good at dodging tax. At least £5 trillion is hidden in tax havens.
Even charity shops are closing down!
...
Obama's so-called 'employment miracle' involves:
A great number of temporary and low-wage jobs.
A large number of people outside the workforce.
Almost no rise in wages.
"It has left much of the US labour force more insecure and poorer than it was when Obama took office.
"That's a big reason why consumption has grown far less than the headline rate of job formation."
Storm clouds gather again as Obama prepares to leave - Telegraph.co.uk - By Liam Halligan
"Almost a third of teachers in Birmingham and the West Midlands are bringing food to school to feed hungry pupils or giving them cash from their own pockets to buy meals.
"A quarter of 800 teachers polled in the region said some children were so hungry in class that they were falling asleep at their desks."
Note that government debt has been rising in the USA and UK.
ft.com
ft.com
"Investor fears that the bloated sovereign (government) debt market is beginning to pose risks to the world economy."
The debt of cities, local authorities and state companies is 'backed by the government'.
State companies include: Mexican state-controlled oil company Pemex, government-backed Export Credit Bank of Turkey, the city of Paris, Sri Lankan Airlines and Germany's development bank KfW.
Even charity shops are closing down!
...
Obama's so-called 'employment miracle' involves:
A great number of temporary and low-wage jobs.
A large number of people outside the workforce.
Almost no rise in wages.
"It has left much of the US labour force more insecure and poorer than it was when Obama took office.
"That's a big reason why consumption has grown far less than the headline rate of job formation."
Storm clouds gather again as Obama prepares to leave - Telegraph.co.uk - By Liam Halligan
"Almost a third of teachers in Birmingham and the West Midlands are bringing food to school to feed hungry pupils or giving them cash from their own pockets to buy meals.
"A quarter of 800 teachers polled in the region said some children were so hungry in class that they were falling asleep at their desks."
Note that government debt has been rising in the USA and UK.
ft.com
ft.com
"Investor fears that the bloated sovereign (government) debt market is beginning to pose risks to the world economy."
The debt of cities, local authorities and state companies is 'backed by the government'.
State companies include: Mexican state-controlled oil company Pemex, government-backed Export Credit Bank of Turkey, the city of Paris, Sri Lankan Airlines and Germany's development bank KfW.
Just a coincidence that seven out of the 10 nations are occupied by Jew Overlords.
ReplyDeleteIn debt to whom?
ReplyDeletePRECISELY!.To the Jew bankers who very slowly & craftily imposed their "compound interest trick" upon western nations to replace their usury of loans a t 50%.& since the foundation of the Bank of Amsterdam in 1609,& later,the Bank of England in 1694,have been getting away with this fraud ever since,& exporting it worldwide.
DeleteThat's why it takes you 25 years to pay off your mortgage & why your house cot so much in the first place.
Another reason it takes 25 years to pay off your mortgage is because the banks are clever and at point of sale don't tell you that actually a fifteen year term is not that much more in terms of monthly costs (assuming a capital and interest mortgage). This is more the case when interest rates are high as the interest element of the loan is proportionaly greater than the capital repayment element.
DeleteAnother reason houses cost so much is to do with ego and the reliance on grandparents and suchlike to undertake babysitting so that both parents can work and thus have a higher income so can borrow more. It's a vicious circle, whilst the ego element is enhanced by the media - see the mail on line for example who include property values in many articles for no real reason.
I used to "sell" mortages for a large bank, in those days the scam was endowments, again 25 years - sometimes 35, in which case the lender is always receiving interest on the full initial debt until the endowment element is mature. The lender also got a healthy, up front, commission from the endownment provider. You may be surprised as to just how much it was.
Hopefully you can follow this, it made me sick to treat other humans in this manner, thus I left.
There's an interesting blog post about Glasgow Rangers, Sir David Murray and borrowings from the banks :
https://johnjamessite.wordpress.com/2016/01/24/the-men-behind-sdm/
cheers
The reality is that the UK, continental Europe and the USA have been in an economic depression since 2008, which has been masked by spending from borrowing, and fiddled economic figures. Now the economy is about to take another lurch down, with the cupboard bare and the roof leaking. I fear it won't only be schoolchildren in Birmingham going hungry.
ReplyDeleteExactly. Now that would be an interesting top 10.
ReplyDeleteThe Modern Money Theorists say there is no shortage of money. The problem is that the banks create it out of thin air and loan it to us at interest. They won't let the government create it out of thin air instead and give to us as quantitive easing for the people.
ReplyDeleteWe could have a Basic Income which would be just enough to live on without working.
Research shows that most people use the money to start their own business - don't forget, risk is low when you have a basic income to fall back on. Others use the money to retrain. People become more productive when they do work they enjoy.
Those that are too ill to work can survive, and those that are not capable of working (the work shy who often have personality problems - so you wouldn't want them working for your own company) can survive too.
Fuck the Tories!
With so much machinery, computer, and robots doing the work, there won't be enough people employed in the future to buy the stuff coming out of the factories. A Basic Income sorts out the problem.
Basic Income (10 Reasons)
ReplyDeletehttps://www.youtube.com/watch?v=gh_kaQSSVt8
I'm beginning to like this dude.
ReplyDeleteWORK MYTHS (8 Lies You've Been Told about Work)
https://www.youtube.com/watch?v=x0xqnl8SSnU