Economy

October 20, 2009
Print Print


ECONOMY

The Roots of our current Great Recession have 3 Principal components:
The exporting of American jobs under the misnomer ‘Free Trade’, the deregulation of American communications and financial industries under the misnomer ‘Free Markets’, and the promotion of American hegemony in the Iraq War under the misnomer ‘Spreading Democracy’ …or whatever the reason was that we supposedly went into that country.

The Iraq War, a conflict originating in lies perpetrated upon earnest but ignorant American citizens by a big government faux conservative administration, is now on its way to becoming the most expense war in US history. At $3 trillion, its out-of-pocket, out-of-budget costs, and incurred future obligations match those of World War II, in inflation-adjusted dollars. But unlike the Second World War, which lifted the US out of the Great Depression, the Iraq war, a W. Bush policy error that blundered into a trap that had been preset by Osama bin Laden, ignited the spiraling energy costs that accelerated our economy’s 4th Quarter 2007 - 0.5 percent contraction to -2.7% by 3d Q of 2008; a condition that further worsened with the 4th Q 2008 credit paralysis that followed the demise of Lehman Brothers.
This nation will not see meaningful economic recovery until these 3 problems are fundamentally addressed.

In the following link, Oxford educated economist Paul Craig Roberts, the celebrated ‘The Father of Reaganomics’, points toward a reasonable solution to the ‘free trade’ troubles that are decimating America’s Middle Class PAUL CRAIG ROBERTS: 94 Years of Serfdom

military-expenses

The current military spending of the United States totals more than the rest of the world’s nations combined, a state of affairs that never before existing in the history of civilization. After 8 Years, Obama’s Military Spending will be 20 Percent Higher, in Inflation Adjusted Dollars, than were the 8 years of Ronald Reagan’s defense spending aganst the collosal military might of the Soviet State; and that projection of Obama’s spending does not even include the 2 wars in which we are presently engaged – Military Budget Analyst Winslow Wheeler Counterpunch

50 years ago, economists believed technology would raise productivity levels and people would be living in near utopian conditions by the year 2000; What Happened? – Michael Hudson

How Goldman Sachs and Citi Run the White House - ANDREW COCKBURN

How Goldman Sachs engineers major market manipulations - MATT TAIBBI, Rolling Stone

After being bailed out last year at an average cost of sixty-six cents for every dollar the taxpayers and their government’s Chinese financial backers loaned to them, Goldman Sachs is back to business as usual and the average Goldman broker will earn about $770,000 this year. That’s 30 percent better than last year when they were helping al Qaeda and Wall Street create the Great Recession - Margareta Pagano, Business Editor, The Independent

America’s $974 billion Military Budget – Winslow T. Wheeler, National Security Analyst

Pull Out of Iraq This Year and Begin Healing Our Own Bankrupted Land - GEORGE McGOVERN

Geithner’s Public-Private Investment Program is a rip-off of public funds which uses confusing rules and guidelines to conceal the shift of toxic garbage onto the public’s balance sheet – Mike Whitney

The trick is to keep the population from understanding the financial dynamics and the underlying fraudulent character of the debts with which it has been saddled – Michael Hudson

PEROT CHARTS — Charting Government Fiscal Irresponsibility [PerotCharts.com is designed to provide information about the economy and its relationship to Federal Government spending and borrowing]

The reason we need new rules is that a generation of Democrats and Republicans systematically repealed or gutted the regulatory controls enacted eighty years ago to remedy the Great Depression – William Greider

President Barack Obama on the Federal Budget: Four Principles – President Barack Obama

The “free American” starts off with a 30 per cent tax rate, the same position as a medieval serf – Paul Craig Roberts

Geithner’s Plan Taxes Main Street to Make Wall Street Richer - Dean Baker, t r u t h o u t

Compulsory financing of U.S. military spending is built into the global financial system – Michael Hudson

href=”http://www.thenation.com/doc/20090420/hindery_riegle?rel=hp_currently” target=”_blank”>The Jobs Solution - Leo Hindery Jr. & Donald W. Riegle Jr.

Pay Attention to the Oil Rich Stans, People in Charge Do - Pepe Escobar, TomDispatch.com

Will ‘Trickle Down’ Banking Work Better than ‘Trickle Down’ Economics - Paul Abrams

Can Uncle Sam Ever Let Go? - Patrick J. Buchanan, Human Events.com

Former British diplomat tells of fundamental failure of transparency in government’s dash into the Costly Iraq War - Nigel Morris, Common Dreams.org

Was the Bailout a Scam?

- PAUL CRAIG ROBERTS

Cuts for Autoworkers, Bonuses for Derivatives Traders - PETER MORICI

Americans Want Justice for Wall Street Crooks - RALPH NADER

Cramer show

It is time for a 0.5% Tobin Tax on Wall Street Speculators to repay the damage done to America’s economy: Watch Jim Cramer on ‘Daily Show’ - The Huffington Post

A Sellout of Our Unemployed - Patrick J. Buchanan

Public Health Insurance is Cheaper and More Effective - DEAN BAKER

Derivatives for Dummies - Katherine Harris

The Lazy Man’s Guide to the Economic Crisis - KATHY SANBORN

Obama’s Budget - PAUL CRAIG ROBERTS

Ed Balls

Ed Balls: minister fears rise of fascism amid economic gloom

The economic outlook: 2012 and beyond - Dr. Abbas Bakhtiar

How the US Economy was Lost - PAUL CRAIG ROBERTS

How Credit Unions Survived the Crash - RALPH NADER

Empire at the End of Its Rope - Alan Bock

How the Current Financial Rescue Schemes are Following Hoover’s Failed Model - Ismael Hossein-Zadeh

George Soros and Paul Volcker see no bottom for world financial ‘collapse’ – Reuters

Time Magazine’s ‘25 People to Blame for the Financial Crises’ falsely deflects blame away from Republicans and puts too much blame on Democrats – David Fiderer

President of Special Interests - PAUL CRAIG ROBERTS

unions

Why America Needs Labor Unions - DAVID MACARAY

Nationalize the Banks! - Matthew Richardson and Nouriel Roubini

Trying to Revive the Bubble Economy - MICHAEL HUDSON

Tax Wall Street Speculation - RALPH NADER

Schemes to Rescue Wall Street Gamblers Are Prolonging this Recession - ISMAEL HOSSEIN-ZADEH

Intelligence czar: Economy is top threat to U.S

America Is Broke and Funding Fantasy Wars at the Pentagon - Chalmers Johnson

Stimulus, Yes; Bank Bailout II, No – Robert Kuttner

US Economy may not see full recovery - Counterpunch

The Freefalling Economy - P. SAINATH

How to Fix the Banks - PETER MORICI

GE chief warns US depression threat

It is imperative we not continue the same mistaken policies that got us into this economic mess - Christopher Hayes

obama

The Stimulus Package Get rid of the tax cuts and use the entire package for job creation – Arianna Huffington

It’s no coincidence that many of the protagonists in the current business crisis are MBAs like George W. Bush – Joseph Davis

From Phantom Wealth to Real Wealth – David Korten

Christina Romer

Obama Stimulus Plan: Economic Team Makes The Case (VIDEO & PDF) – The Huffington Post

In the Jaws of a Depression - PETER MORICI

Geithner Preparing Overhaul Of Bailout

U.S. debt is losing its appeal for China

The Banks are laughing all the way to the Bank – Rob Larson

The media myth: Detroit’s $70-an-hour autoworker - Eric Boehlert, Media Matters

Auto industry workers

85,000 homes lost in October

More Pay for More Productivity is not only the American Way, it is an Essential Way to Bail Out the American Economy - Mike Whitney

Recognize contemporary free trading globalists and supply side economists for what they are: idiots at best, traitors at the worst

The Right Wing continues its Battle with Reality - Fox News: “Historians Pretty Much Agree” That FDR Prolonged the Great Depression – David Sirota

U.S. falls deeper into recession

Pope warned that the world was headed toward ruin if selfishness prevails over solidarity during tough economic times for both rich and poor nations

Obama Warns Economy Will Worsen Before It Recovers

“We have faced difficult times before, times when our economic destiny seemed to be slipping out of our hands. And at each moment, we have risen to meet the challenge, as one people united by a sense of common purpose. And I know that Americans can rise to the moment once again.” BARACK OBAMA

Chrysler is closing all thirty of its plants for at least a month

Obama May Seek a Stimulus Plan Exceeding $850 Billion

California Lawmakers Kill Plan to Raise Taxes, Fight Deficit

Let Wall Street Fail and Use Taxpayer Money to look after those Not Responsible for the mess - A Car Dealer Explains Why the Bailout is a Raw Deal - Dave Lindorff

Bush Signals Swift Decision on Tapping Funds for GM, Chrysler

GM will temporarily close 20 factories to cut 250,000 vehicles from 1st-quarter production

U.S. to use bank bailout to aid automakers

For some Senate Republicans, a vote against the bailout was a vote against the United Auto Workers, and against organized labor in general

VIDEO: GOP to UAW “Drop Dead”; explains why some Republicans have declared war on labor and are so vehemently opposed to any government assistance of the American automobile industry

Homelessness Rising In The US

Fed Refuses to Disclose Recipients of $2 Trillion

Feds say it’s too dangerous to know where trillion has gone to?

VIDEO: RON PAUL: The Federal Reserve is responsible for creating these economic babbles!

VIDEO: RON PAUL on the global financial crisis

BANK OF AMERICA WILL ELIMINATE JOBS

Senate Abandons Automaker Bailout Bid: Merry Christmas From The Job-Killing Senate GOP

Asian Carmakers Clobbered; Dollar Falls Below 90 Yen

The White House and Democrats agree to a $15-billion plan, but ‘bailout fatigue’ looms

The World-wide collapse of trust in the U.S. government, created by the Bush administration, threatens dollar hegemony - Paul Craig Roberts

One of the Significant Roots of our Current Recession lies with the Bush administration’s destruction of national and international trust in our institutions of government - Mike Whitney

Weak outlook for jobs, GDP in 2009

Obama unveils 21st Century New Deal: Jobs, Schools, Roads, Bridges… - December 06

Why Infrastracture? - Steve Coll

US ready to offer Detroit a $15bn bail-out

Unions Aren’t the Problem: Organized labor is also creating a viable middle class, which is important to our democracy

Detroit industry

Nobel economics prize winner Paul Krugman says U.S. auto industry will likely disappear

Robert Skidelsky, emeritus professor of political economy at Warwick University in the UK recommends Republicans take up the study of Keynes

To fight off the Republican Recession, the a U.S. Floods the World With More Dollars

The Causes of the Auto Crisis - Kevin Zeese

General Motors Asks FAA to Bar Public Tracking of Leased Corporate Jets

We Have the Money - If Only We Didn’t Waste Money on Military Budgets - Chalmers Johnson

The Triumph of Keynes - China’s Greatest Export - Moshe Adler

Bailout Lacks Oversight Despite Billions Pledged, and per Treasury Department Inspector General “It’s a mess”

A shell-shocked Alan Greenspan reconsiders ‘the invisible hand of the markets - Helen Thomas

Greenspan

Study says most corporations pay no U.S. income taxes

Economy contracts as consumers retreat. This is just the beginning of contraction,” said Sung Won Sohn, an economics professor at California State University, who said the fourth quarter will certainly show another decline in economy, which would meet the traditional definition of recession, or back-to-back quarters of falling activity

How inflation works

The day the foreign bankers turn off the credit spigot to the US Treasury, American arrogance will be tamed - the ‘Father of Reaganomics’, Paul Craig Roberts

VIDEO: RON PAUL after the House was pressured to vote in favor of the bailout

VIDEO: RON PAUL ON CNN 10-1-08 has warned us: “Bailout could destroy the dollar, but do not blame capitalism”

How is our financial crisis affecting Europe?

America faces this present day of reckoning because of the failure of its citizens to understand where the country’s leadership have been taking us - Pat Buchanan

By now you think we would have learned, that when George Bush says we must act quickly, that means its best we take the time necessary to think it though - Michael Hudson on the Bailout

The Financial Mess simply explained

America has become a country whose foreign policy goal is world hegemony and may continue on this path to self-destruction until the rest of the world no longer finances its existence -Reagan Economist Paul Craig Roberts

VIDEO: The#1 viral video on YouTube: Let’s Play “WALLSTREET BAILOUT” The Rules Are… by Rep Kaptur of D-Ohio”

VIDEO: They want MAMA to make it better… by Rep Kaptur

Some say that we were very close to a stalled economy, markets were 500 trades away from meltdown - Almost Armageddon

THIS MAN may have the best LONG TERM solution to the economic crisis!

RON PAUL’S Economic Committee Statement

VIDEO: Too much “politics” is involved in solving the economic crisis

Whats ahead for the US economy? Read why the ‘Father of Reaganomics’ Considers A Temporary Respite from Permanent Decline…

How You Been Doin? - Are You Better Off Now than Eight Years ago?

VIDEO: ECONOMY IN CRISIS? Treasury Sec. Paulson, Fed Chair Bernanke

In view of the bailings out and the economic hard time, watch the two videos “Money as Debt” and “Masters of Money”, which beautifully trace the origins of political and financial structure which rules, and what we can do to protect our families from big recession or great depression

Warren Buffet Worries about High U.S. Debt levels

Two-thirds of U.S. companies and foreign firms doing business in this country paid no federal income taxes from 1998 to 2005, according to a study by the Government Accountability Office

28 percent of large corporations doing business in the U.S. pay no taxes

  • Share/Save/Bookmark

Comments

Got something to say?

You must be logged in to post a comment.

iSNARE Free Articles Directory
Bloglisting.net - The internets fastest growing blog directory Politics Blog Directory Politics blogs Politics Top Blogs Blog Directory Free Blog Directory Blogio.net blog directory
Blog Directory & Search engine Blog Flux Local
As Featured on ArticleCity.com Moderate Leaning Political Blogs - Blog Catalog Blog Directory

ConList - Best Conservative Blogs on the Internet
Conservative Blog

Blog Search Engine

website analytics

free web site hit counter
Search Engine Submission - AddMe