Posts Tagged ‘ Financial sector ’

German Taxpayers Willingly Subsidise Bankers

August 11, 2011
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NY Times, August 11, 2011 A debate between five economists on “Why Aren’t Germans Protesting?” Rightly Disgusted at the Banks A bailout, like any other government expenditure, is a tax. Someone must pay all this money. And it is unfair to tax the broad population to pay for a special interest. Instead of being...

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Greece now, US soon

July 12, 2011
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Geithner says, wait a minute, American banks have made huge billion-dollar--maybe, for all we know, a trillion-dollar bet that the Greeks will repay. They've made derivative plays, they've made cross-party insurance, and American banks would lose money. Now, if there's a choice between American banks losing $1 and Europe going into neo-feudalism for a...

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IMF the Economic Hangman

July 8, 2011
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Michael on the Keiser Report, discussing the role of finance in the EU debt crisis. How does Wall St and the IMF fit into the picture? Michael comes on at the 14 minute mark. Download the Hudson only portion of the interview

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How a $13 Trillion Cover Story was Written

June 17, 2011
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Free money creation to bail out America’s elite financial speculators, but not for Social Security or Medicare Only the “Crazies” Get the Bank Giveaway Right Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human...

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Rolling Back the Progressive Era

June 14, 2011
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Financial strategists do not intend to let today’s debt crisis go to waste. Foreclosure time has arrived. That means revolution – or more accurately, a counter-revolution to roll back the 20th century’s gains made by social democracy: pensions and social security, public health care and other infrastructure providing essential services at subsidized prices...

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How Financial Oligarchy Replaces Democracy

June 6, 2011
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Will Greece Let EU Central Bankers Run Riot Over Sovereignty? When Greece exchanged its drachma for the euro in 2000, most voters were all for joining the Eurozone. Their hope was that it would ensure stability, and that this would promote rising wages and living standards. Few saw that the stumbling point was tax...

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EU: Class War Declared

June 2, 2011
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Concentration of financial power in non-democratic hands is inherent in the way that Europe’s centralized planning in financial hands was achieved in the first place. The European Central Bank has no elected government behind it that can levy taxes. The EU constitution prevents the ECB from bailing out governments

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Will Iceland Vote “No” or commit financial suicide?

April 8, 2011
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A landmark fight is occurring this Saturday, April 9. Icelanders will vote on whether to subject their economy to decades of poverty, bankruptcy and emigration of their work force. At least, that is the program supported by the existing Social Democratic-Green coalition government in urging a “Yes” vote on the Icesave bailout. Their financial...

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Norway's Sovereign Wealth Risk Vortex

March 18, 2011
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What does Norway get out of its Oil Fund, if not More Strategic Infrastructure Investment? For the past generation Norway has supplied Europe and other regions with oil, taking payment in euros or dollars. It then sends nearly all this foreign exchange abroad, sequestering its oil-export receipts – which are in foreign currency –...

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The Spectre Haunting Europe

January 22, 2011
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There is an alternative, of course. It is for creditors at the top of the economic pyramid to take a loss. That would restore the intensifying GINI income and wealth coefficients back to their lower levels of a decade or two ago.

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