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Financiers can’t tolerate losses flowing from their own greed and reckless gambling. Their solution is to have the state guarantee their stratospheric profits, bonuses and salaries. Governments can only do so through extracting money from their citizenry and facilitating the upward flow of wealth within corporate structures.

Austerity is just another word for punishment. The corporate mass media serves us a daily diet of central bankers, government ministers, financiers and industrialists lecturing us that we must swallow bitter medicine as repentance for living beyond our means.

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finance

Defending the Indefensible

by Stephen Lendman

Robert Shiller is Yale University Professor of Economics and Professor of Finance and Fellow at the International Center of Finance, Yale School of Management.

He's best known perhaps for his 2000 book titled, "Irrational Exuberance." At the height of the tech bubble, he got it right predicting it would burst. His analysis included structural, cultural, and psychological factors.

His 2005 second edition was right again. He explained the housing bubble and likely aftermath. It peaked in 2005, began declining in 2006, and hasn't yet hit bottom. Maybe a third edition will cover the next inevitable decline.

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If the Fed were eliminated, the exact same powerful capitalist interests would be continue to bend government policy to their preferred outcome and would continue to exercise the same dominance over government, social institutions and the mass media.

There are details, and then there is the big picture. Mistaking the former for the latter can send an activist down the wrong path. A good example of this are the often well-meaning people who resolutely demand that we "End the Fed."

But the problem isn't the Federal Reserve, it is the system that it serves. If you don't like the Fed, what you actually don't like is the capitalist system.

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author: 
world peace, finance, trade, wealth, politics
Summary: 

Is a war between Taiwan and China coming? Are US and Japan going to be involved? What is the possible outcome and its effects on global finance, trade, politics, peace, democracy, wealth, jobs? Is federation a good choice for avioding the coming war? Get powerful new ideas from leading thinker George Zhibin Gu.

Federation for Taiwan and China: a powerful way to aviod war and move toward peace and global stability and progress:

China and the New World Order:

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author: 
globalization, business, entrepreneurship
Summary: 

Is Chinese and Indian century emerging sooner? Watch out on the sudden surge of Asian giants! Is a new global war coming? Are emerging China and India the source of troubles? What is the next in world finance, outsourcing, labor, trade, politics, leadership? 3 challenging educators George Zhibin Gu, Chalmers Johnson, and Andre Gunder Frank talk about global development in the next stages and new century conflicts

The China, India Factors and the Overstretch of the US Hegemony in the 21st century: opportunities, challenges, conflicts and development

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