05-17-10, 06:01 PM #1
What is wrong in the Western Economies?
The Money Masters - How International Bankers Gained Control of America
This Is a three and a half hour film but you can stream it in parts here, its not bad, and covers quite a few issues.
I am just watching it now will add more comment later.
06-25-10, 06:39 PM #2
"The Future Is Greek"
The Future Is Greek
I agree with this link completely when they speak of how the People of your nation have to stop blocking reform to medical, bank, etc..
or enjoy your future Greek style.
Last edited by soullust; 06-25-10 at 06:48 PM.
06-26-10, 02:12 PM #3
MOD merged two threads with OPs now 1 & 2 of this thread
They had 195 views and ZERO replies. Both were started by Soullust.
Note to soullust: You may not start new threads pushing the same ideas. You should in the future express your dislike of the fractional banking system, the FED etc. in existing threads* when such comments are on the topic of the thread.
DO NOT START A NEW THREAD PUSHING THESE IDEAS.
* As you did here: http://www.sciforums.com/showpost.ph...45&postcount=2
Last edited by Billy T; 06-26-10 at 03:21 PM.
06-26-10, 04:05 PM #4
06-26-10, 08:06 PM #5
and you don't really need to comment on them, the first one is more of an education of how we as "THE WEST", are being screwed by private fractional banking, and what it is.
The second one is more to wards reform, of health care, but what ever....
06-26-10, 08:07 PM #6
06-27-10, 09:16 AM #7
"What is wrong in the Western Economies?" (or consider an alternative you may prefer)
That title should both let you rant and rave to your heart's content as well as attract some comments from others.
I can only do this soon, as I will need to send PM to all posters who have posted here advising them of the name change. (only to GeoffP now)
06-27-10, 01:17 PM #8
06-27-10, 05:16 PM #9
Greed, corruption and graft are the reasons for the monetary problems in most countries.
06-27-10, 06:08 PM #10
06-27-10, 10:17 PM #11
06-27-10, 11:25 PM #12
06-28-10, 12:10 AM #13
I was thinking more of his contemporary comments about the state of the economy. Yes, it is of course the same. I was wondering what these guys thought when the CEO of Lehman Brothers walked away with half a BILLION dollars in "bonuses" after running it into the ground - which we the tax payer are paying for. I'm kind of surprised someone didn't shoot a few of these fat f*cking banking arseholes like him.
07-02-10, 05:15 AM #14
07-02-10, 07:10 AM #15
07-02-10, 07:57 AM #16
02-19-11, 03:16 PM #17
In answer to thread's question: Perhaps too little US savings (and government's low interest rates which make savings unattractive) - Point made by Chinese speaker at the Paris IMF /banking forum today. I.e. If Americans saved more they would not be importing so much. Likewise if Chinese saved less, they would be importing more.
China is doing its part - plans and is* "rebalancing" its economy and reducing the trade surplus as the footnote below shows. So that it citizens do not need to save so much for old age, etc., China is raising salaries and providing more services, especially medical care:
"… In the next five years, China will further expand the coverage of its basic medical insurance system and ease the cost of medical services, Health Minister Chen Zhu said Friday. … The medical expenditure that shouldered by individuals had been cut to 38.2 percent of China's annual overall spending on medical services in 2009, down from 60 percent in 2001, thanks to increasing government funding support for the measure, said Chen …”
Here is Bloomberg's review of what did not happen at the Paris meeting:
*"The IMF predicts that China’s current-account surplus will narrow to 5.1 percent of gross domestic product in 2011 from as high as 10.6 percent in 2007, while the U.S. shortfall slims to 2.6 percent from 5.1 percent.
Moves are also afoot to bind China more closely into the world economy by adding the yuan to the IMF’s synthetic currency basket, known as special drawing rights. Created in 1969 and last reweighted in November, the SDR is a composite of the dollar, euro, Japanese yen and British pound, though its role in financial markets is minimal. ..."
SUMMARY: China is making some progress in switching to more domestic GDP and less exports / trade surplus. US (and EU) wants the RMB to rise more rapidly so China can / and would / buy more imported goods. China seems to think an undervalued RMB is not cause of its trade surplus. China seems to think US is not doing its part –Instead of encouraging saving, US has historic low interest rates, which are flooding the developing countries with dollars escaping the US to look for some better returns on their saving. China (and Brazil, etc.) are complaining that the US is “exporting inflation” / initiating “currency wars”, etc.
Billy T comment: IMHO, China has a point here: The US does prefer to blame China instead of lower its imports and save more. China will soon force the US to save, by decreasing the loans to US (less buying treasury bonds).
Last edited by Billy T; 02-19-11 at 04:16 PM.
02-19-11, 11:22 PM #18
What is wrong with western economies?
They don't understand the simple principle that if you saw off the limb of the tree you are sitting on, you will fall down
05-25-11, 03:29 PM #19
Why I call coming depression "GWB's depression" Graph at: http://www.bbc.co.uk/news/business-13541838
GWB reduced taxes on the rich - they investing their saving in new factories in China* so China now has both more modern factories and much lower wage cost. This closed US factories and out sourced jobs and made workers competing for jobs accept lower pay. GWB was the first POTUS in many years to lower the purchasing power of Joe American's salary during his terms. Not to mention the debts, still growing, with the two needless wars he started and associated fall in dollar's value. In an economy that was based 2/3 on Joe's buying of consumer goods, this graph is what you would expect (and got) plus the two recessions that started during his two terms.
GWB needed to add 22 million jobs in his 8 years, just to keep up with the growth of the labor force, but added less than 4 million. Obama has not been able to climb out of this jobs deficit hole and now the acknowledge unemployment is 9% again (actual rate is about twice that as the too discourage to look for a job or part time workers are not counted as "unemployed").
In quick, three word, answer to what is wrong with western economies: GWB's lasting effects.
* For example, Warren Buffett, owns 10+ percent of stock in BYD's new factory and the the rise in stock price alone (not counting the dividends) has more than tripled his money. GWB was very kind to the rich, but screwed Joe American and the US economy.
Last edited by Billy T; 05-25-11 at 04:06 PM.
05-25-11, 07:00 PM #20
I suppose the wars were only needless IF we don't NEED the oil. But, everything I read says we do need the oil, so maybe they were necessary? And hey, China funds the wars, we invest in their country, and so in a sense they get theirs. Who knows, if we hadn't invaded Iraq, China may not have continued to invest in treasuries as they might have had an escape route. As it is, we now control KSA and Iraq and Afghanistan. They'll keep paying, at least for now.
I guess what I'm saying is, if we really are in dire straights without Iraq's second-largest-oil-supply-in-the-world oil, then the wars were necessary.
I completely agree GW Bush tax "relief" on the ultra rich was excessive, but on the other side of the coin I think, Americans are idiots and maybe they need a smack in the face to pull our collective heads out of the sands. I also wonder if it's too late, really. We had a lot of wealth and we squandered it. Just like spoilt little rich kids we spend daddy's money. Now it's gone and everyone is crying it's not fair. Boo Hoo. Some of us worked hard, sacrificed, went without and was daring with what we did have, took chances and attempted to educate ourselves and are doing perfectly fine.
There's always fields of farming produce that needs picking and more than enough ex-wall street "players" with backs that need strengthening up
I was reading an interview with a CEO of a fortune 500 company the other day. In 2009 he had the gall to quit his job demanding a pay raise on top of the (who knows how much) he had. He thought he was so great people would be knocking down the door with bags of money in hand. t's now 2011 and his savings are about gone, his wife is working 40-50 hours a week to keep the home (which they will probably have to sell) and he finally gets it. He was a nobody. A nobody who got lucky. There's nothing special about him. He wasn't the one who started that company. He just convinced people he was great and should run it - even himself. He is why we needed the Depression in 2008. To get rid of CEOs like this him. I have ZERO pity for him. I hope he looses everything. Karma is serving him up exactly what he deserves.
Waky Waky America. You're fat, tired, used up and loosing the race...
On a side note: What did you think about Peter Schiff's smack down on NIA? I'm thinking he's spot on. But, I also think people who invest in penny stocks thinking they got the "inside track" from an email, deserve what they get.
Last edited by Michael; 05-25-11 at 07:09 PM.
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