Economic News Discussion
Public Group active 5 days, 8 hours agoDiscuss the latest economic developments and share hot news links and videos. This group is part of the Amped Economic Network: http://ampedstatus.org/economic.php
-
Alison posted an update in the group
Economic News Discussion: 5 days, 8 hours ago · View -
Alison posted an update in the group
Economic News Discussion: 1 week, 1 day ago · ViewInteresting graphic showing the influence Goldman Sachs has, as well as the repeat offenders that have ”served” the last 3 presidents- Larry Summers, Robert Rubin, Timothy Geither, Henry Paulson.
-
Christina Marlowe posted an update in the group
Economic News Discussion: 2 weeks, 4 days ago · ViewObama appoints Melvin Watt, (D) North Carolina, to oversee Fannie and Freddie
-
Christina Marlowe posted an update in the group
Economic News Discussion: 2 weeks, 5 days ago · ViewArticle: How Big Pharma is Killing Americans…
http://www.alternet.org/how-big-pharma-killing-americans-and-bankrupting-country
Commentary:
The Pharmaceutical industry, along with it’s diabolical methods and it’s many death tolls, is eerily similar to Nazi Germany’s Dr. Mengele and the many ”experiments” on the numerous innocent ”subjects.” I do indeed see many shocking parallels and very few actual differences. This is beyond simply reprehensible; Indeed, beyond totally criminal. I hasten to add that I am not a conspiracy-theory ”type,” but I am thinking that this maybe only one part of a much grander and much more sinister scheme, (like that of so-called austerity measures): This entire picture is looking more and more like deliberately engineered genocide. Just saying.
CM
yeah they have a program going on now using humans for lab rats involving chronic pain. they give the test subjects 7,000 dollars to test this new pain patch they have and a years worth of patches to get involved in this study and i for one am not going to take any damned thing i do not know what it is and the side effects the big pharma is the reason i am deaf. when i was 18 months old they gave me a series of streptomycin shots that killed the auditory nerves in both ears so i damned sure am not about to take something i do not know about especially seeing what all of these drugs they are coming out with are doing to people. thanks for the post and the article above.
Important Link for anyone who cares at all:
http://sjlendman.blogspot.co.nz/
Excerpt of Simpson-Bowles Act:
”Plan A includes:
ending or capping middle class tax breaks; home mortgage interest deductions and tax-free employer provided healthcare insurance are targeted;
taxing capital gains and dividends the same as ordinary income;
lowering income tax rates to 9, 15 and 24%; currently they range from 10 – 39.6%;
slashing corporate tax rates from the top 35% rate to 26%; eliminating some deductions was proposed;
making the research and development tax credit permanent;
making deep Medicare cuts; increasing Medicaid co-pays; eliminating $54 billion from graduate medical education; and enacting ”comprehensive tort reform;” doing so makes it harder for aggrieved patients to file malpractice suits;
raising the Social Security retirement age to 69 by 2075; reducing cost-of-living increases; they’re now based on annual inflation rates; raising the payroll tax ceiling to $200,000; high-income earners benefit most;
eliminating 10% of federal workers by 2015; doing so increases unemployment when reducing it should be prioritized;
raising the federal gasoline tax by 15 cents a gallon; imposing ”user fees” on motorists; at issue is having ordinary people fund the federal transportation and highway spending program; and
cutting $100 billion in military spending; targeted are administration inefficiencies, weapons Pentagon officials don’t want, overseas force contingent drawdowns, and medical benefits for military retirees through less care and/or higher premiums and co-pays; ”
~S. Lendman
Important Link for anyone who cares at all:
http://sjlendman.blogspot.co.nz/
Excerpt of Simpson-Bowles Act:
”Plan A includes:
ending or capping middle class tax breaks; home mortgage interest deductions and tax-free employer provided healthcare insurance are targeted;
taxing capital gains and dividends the same as ordinary income;
lowering income tax rates to 9, 15 and 24%; currently they range from 10 – 39.6%;
slashing corporate tax rates from the top 35% rate to 26%; eliminating some deductions was proposed;
making the research and development tax credit permanent;
making deep Medicare cuts; increasing Medicaid co-pays; eliminating $54 billion from graduate medical education; and enacting ”comprehensive tort reform;” doing so makes it harder for aggrieved patients to file malpractice suits;
raising the Social Security retirement age to 69 by 2075; reducing cost-of-living increases; they’re now based on annual inflation rates; raising the payroll tax ceiling to $200,000; high-income earners benefit most;
eliminating 10% of federal workers by 2015; doing so increases unemployment when reducing it should be prioritized;
raising the federal gasoline tax by 15 cents a gallon; imposing ”user fees” on motorists; at issue is having ordinary people fund the federal transportation and highway spending program; and
cutting $100 billion in military spending; targeted are administration inefficiencies, weapons Pentagon officials don’t want, overseas force contingent drawdowns, and medical benefits for military retirees through less care and/or higher premiums and co-pays; ”
~S. Lendman
politicians have too much time on their hands and too many hands in their pockets influencing their decisions. make everyone that is knowledgeable and have the smarts to do so do their part by having to take part in our government with no pay it is our duty to make sure that it benefits one and all.they keep cutting the benefits for those who need it the most,basically rubbing our noses in shit and the ignorant masses keep accepting this bullshit.quit giving billions to the likes of big business big banks and damned sure shut down the fed. look at iceland for example they have turned their economy around in less than 2 years since putting the banking thieves in jail and kicking the rest out.this country used to give 10 year charters to big businesses so that they could not form monopolies and put the small businesses out of business which is the backbone of any economy, with the deregulations over the years and tax cuts on the wealthy it has destroyed this country. thanks for the post and links.
M This is why I do NOT accept paying TAXES, for just ONE example.
But I do NOT want to be ARRESTED.
hi christina, i can’t blame you for that one and think that with all the taxes that ARE being paid this country should have high speed rail systems and free health care not to mention a slew of other things i can think of.
THEY, the ostensible government, the REAL Power Brokers, are hanging us out to DRY. They, the Pharmaceutical Racket, they are poisoning us all to death, for one thing…Much more.
Come the [R]évolutión, price gouging and profiteering in vital human services would be considered an act of chickenshittedness – which come the revolution, all forms of chickenshittedness would be banned. That goes for Big Pharm and the Insurance Industrial Complex in health care; same as usury in banking on Wall Street, and the Pentagon’s ”revolving door” on K Street.
-
Christina Marlowe posted an update in the group
Economic News Discussion: 3 weeks ago · View1. STOP paying ALL taxes: Local, State, Federal
2. STOP paying ALL Banks and ALL ”Insurance” companies (SCAM of epic proportions)
3. WITHDRAW ALL MONIES FROM BANKS NOW
4. STOP Willingly Working as SLAVESdone did that to a point just ain’t figured out how to get out of the ripoff sales taxes that goes up every time you turn around.
Im going further than that: Here is first draft proposal:
Non-Violent Solution to the Total Systemic Failure of Government:
I will first qualify by saying that it is not that I disagree with Taxation. BUT, the Taxes of the ordinary citizens are being impudently stolen and misappropriated and those within this government are the ones who are stealing it and brazenly using it for themselves to live high on the hog, right as they continue to cut public service programs. The U.S. government itself has become the main problem and there is no band-aid solution to total systemic failure.
To be clear: I believe strongly in fair taxation if and only if the money is spent for the total abolition of Poverty in America; for the building and maintenance of infrastructure; Education for all citizens; Direct access to Health Care for all citizens, which will include the total elimination of ”health care insurance;” And for the Programs that benefit the Common Good, that which has not been considered at all by this government.
Therefore, I disagree with paying, in any way, or supporting at all, a government that clearly represents corporate interests over any interests of We the People, the tax-paying citizens of the United States. It is simply criminal and totally contemptible how these government ”employees” are conducting themselves. And let us remember the fact that these ”employees” are only there to represent the interests of the common good of the country and its citizenry. They are decidedly not there to represent corporate interests. In fact, it is indeed amoral what these ”officials” are doing to the very citizens who entrusted them, not to mention the total and callous disregard for the poor, the elderly and the disabled among us. This is not civilized and I will no longer support or endorse such a disgraceful and corrupt government.
My solution is as follows, but requires action of all citizens:
1. Stop paying All taxes: Local, State, Federal
2. Stop paying All Bank Debt
3. Stop paying All ”Insurance” companies
4. Withdraw All Monies from Insolvent Banks
5. Stop working for slave-wagesPeaceful, non-violent demonstrations to Demand that each member, in each branch of this government, vacate their positions at once.
Here is a sample letter to government representatives stating intent:
Letter to Representative Lois Capps,
Ms. Capps,
You are included in the following statement, by your abject incompetence; your total refusal to address the systemic failure of this government; and your total and willful ignorance of any and all real issues, along with your continued insistence on focusing instead on trifling, insignificant non-issues. Thus, Ms. Capps, you are very much a part of the problem:
It is abundantly clear that the U.S. government, including Congress, the Senate, the ”Judicial” system, and all of it’s other useless agencies do not represent ”We the People.” The U.S. government is clearly owned, lock, stock and barrel by the Corporations, including the Banks and Wall Street, that have enthroned themselves.
I am, therefore, calling for you, along with every other member of each branch of this government, to remove yourself without protest, from your post in this systemically failed government.
Sincerely,
bomb throwing doesn’t help, but then neither does climate change
For every dollar spent on running IRS, $3 to $5 is collected for the treasury. Sequestering is costing us a fortune. Taxes are necessary. No question about that. Is as-is taxation fair? No! The re-write has to have a fairness quotient. On a sliding scale, people who can’t afford to pay taxes wouldn’t even be asked, and would in fact get money back on their federal taxes to offset what is the overpaying of ”local” and state (sales and gasoline) taxes.
Regulate (nationalize) interest-free, no-usury banks for conducting everyday transactions.
Nationalize the Federal Reserve under the wing of the Treasury. Money is safer in We the People’s bank than stuffed into a lumpy mattress somewhere. Ever notice how many crooks are in the mattress business? Shoot! They advertise on TV.
As for working as slaves with wages to match, that’s where workers representation (unions) come in. Repeal all of the so-called ”states rights” and ”right to work” laws. Let workers negotiate their pay and working conditions with the government and the private sector.
It still starts and stops at the ballot box; electing politicians who will fight for our causes, and our voting out those who represent the interest (no pun intended) of the 1%.
Climate change insurance, anyone?
Insurance is tricky, starting with divorce insurance. It is well known that divorce more often than not leads directly to bankruptcy. You’ll notice, not even Lloyds of London insures against divorce. Neither do they insure against floods in a flood plane, or against forest fires in a forest. People who live down at the beach are really stupid. We the People should not be expected to pay for the stupidity of others. Just as there should be a single-payer scheme (nationalized) for health care, fire and flood and disaster insurance should be readily available to anyone who doesn’t build in a flood plane or in a forest. After 2063, none except private sector insurance will be provided in the aforementioned flood planes, forests, or where there are earthquakes, tornados and hurricanes. Come the révolutión, the self-insuring government will be expected to own housing enough for the workers that are required to live thereabouts for their work.
.
-
Christina Marlowe posted an update in the group
Economic News Discussion: 3 weeks, 1 day ago · ViewWatch Destopia on Netflix or maybe on Utube as well. It’s about the state of the economy and the current living conditions in Detroit; Interviews with the people who’ve been basically left there to die. The government keeps cutting services. It’s horrific and shameful. Are we dealing with the DEVIL???
Detropia Official Trailer
Thank you for that, Ed. There was also a BBC production up on Utube a few years ago entitled Requiem for Detroit. It was taken down, but maybe it’s back up…It’s well worth watching; It documents the rise of American consumerism, especially with the automobile, and then the fall of manufacture, as evidenced in Detroit. It is Depressing, though.
-
Christina Marlowe posted an update in the group
Economic News Discussion: 3 weeks, 2 days ago · ViewOne Source: http://www.guardian.co.uk/poli…
Summary: More Deregulation and more privatization.
Conclusion: The ”leaders” are insane; Either they are or I am.
More Deregulation? And Finish off Privatization, too?
Between the many lines, PLEASE read this:
The ’leaders’ do NOT represent the people. Period. They are fully owned and fully run by global Corporations. Global Corporate Takeover.
WE are being Hung out to DRY.
So!! Okay, then, I guess that would translate into a general vision of simply letting the peasants fight amongst themselves and finally kill each other off, once and for all. But first, let them all languish mired in debt and stuck in thankless and low-paying jobs for good measure.
Does any one else think that this is not a very good plan? Just wondering.
I tried to read the article but am getting an error – Page not found. Can u pls repost?
I agree that that is NOT a good plan so we must both be crazy. ⊙_ʘ
Oh..Sorry about that. Here is the full link:
http://www.guardian.co.uk/politics/2013/apr/26/liam-fox-tory-thatcherismThanks! These guy sounds like the Republicans here. And THEY (the Repubs) didn’t get it either!
If I may I’d like to share a few excerpts from an article I submitted earlier this week for anyone to share and pass on:
”…The BIS (Bank Of International Settlement) has been called “the most exclusive, secretive, and powerful supranational club in the world…”
”…Dr. Quigley was Professor of History at Georgetown University, where he was President Bill Clinton’s mentor. He was also an insider, groomed by the powerful clique he called “the international bankers.” His credibility is heightened by the fact that he actually espoused their goals. He wrote:“I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960′s, to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. . . . [I]n general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.”
Quigley wrote of this international banking network:
“[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations…”
From the 2009 article titled; ’The Tower of Basel: Secretive Plans for the Issuing of a Global Currency…’
http://www.globalresearch.ca/the-tower-of-basel-secretive-plans-for-the-issuing-of-a-global-currency/13239I’ve seen the Quigley papers somewhere along the line in my research; By what you’ve included, it sure seems to be TRUE. Thanks for that!! I wish I knew what was REALLY going on…And I’m VERY curious to know EXACTLY just who is pulling the strings. I am suspecting certain things, but cannot find facts.or actaul evidence. It’s all pretty DARK from my vantage point. And also I don’t know if we should be having, um…SYMPATHY for President Obama…We KNOW NOTHING. Just saying…
check out the jesuits, i think you just might find out just saying. they operate in the shadows and now you have one for a pope.
-
Alison posted an update in the group
Economic News Discussion: 3 weeks, 3 days ago · ViewThe Grad Student Who Took Down Reinhart And Rogoff Explains Why They’re Fundamentally Wrong
http://www.businessinsider.com/herndon-responds-to-reinhart-rogoff-2013-4
Herndon shook the economics world last week by debunking an influential paper from Harvard econ professors Carmen Reinhart and Ken Rogoff that claimed countries with debt to GDP above 90% experience much lower growth.
Herndon’s paper showed an Excel coding flaw was partly to blame for the result.
After the paper came out, Reinhart and Rogoff admitted the error, but said that their core point remained valid.
-
Christina Marlowe posted an update in the group
Economic News Discussion: 3 weeks, 5 days ago · View“American Dream”: Food loaded into Dumpsters while Hundreds of Hungry Americans Restrained by Police
By Sarah Carlson
Global Research, April 05, 2013
Liberation
Region: USA
Theme: Poverty & Social Inequality
108KHundreds of poor people waiting outside of a closed grocery store for the possibility of getting the remaining food is not the picture of the “American Dream.” Yet on March 23, outside the Laney Walker Supermarket in Augusta, Ga., that is exactly what happened.
Residents filled the parking lot with bags and baskets hoping to get some of the baby food, canned goods, noodles and other non-perishables. But a local church never came to pick up the food, as the storeowner prior to the eviction said they had arranged. By the time the people showed up for the food, what was left inside the premises—as with any eviction—came into the ownership of the property holder, SunTrust Bank.
The bank ordered the food to be loaded into dumpsters and hauled to a landfill instead of distributed. The people that gathered had to be restrained by police as they saw perfectly good food destroyed. Local Sheriff Richard Roundtree told the news “a potential for a riot was extremely high.”
“People got children out here that are hungry, thirsty,” local resident Robertstine Lambert told Fox54 in Augusta. “Why throw it away when you could be issuing it out?”
SunTrust bank is trying to confuse the issue and not take direct responsibility for their actions. Their media relations officer Mike McCoy, stated, “We are working with store suppliers as well as law enforcement to dispose of the remaining contents of the store and secure the building.” Yet he also said that the food never belonged to SunTrust Bank.
There is no need to sugar coat what happened. Teresa Russell, chief deputy of the Marshal’s Office in Richmond County, said the owner of the building ordered that the food be taken to the landfill. Some people even followed the truck to the landfill and were still turned away.
In Richmond County, there are about 20 evictions per day, and the area surrounding the supermarket is one of the poorest in the state. According to the last available data, the poverty rate is 41 percent. Many people in that parking lot probably knew all too well how evictions work, and were in desperate need of the food assistance.
This story is not some bizarre exception. It reeks of the truth of capitalism and is strikingly similar to the H&M scandal that broke in 2010 when clothes were being shredded before being thrown away, so as to make sure the value of the merchandise was unaffected.
In a capitalist society, the motive behind the production of food is not to feed people, housing is not made to give them shelter, clothing is not made to keep them warm, and health care is not offered primarily to keep people healthy. All of these things, which are and should be viewed as basic rights, are nothing other than commodities—to be bought and sold—from which to make a profit. If a profit cannot be made, usually due to overproduction in relation to the market, the commodity is considered useless by the capitalist and destroyed.
In this case, it appears the bank simply did not care. For the banks that have made their profits through evictions and foreclosures, it is little surprise that they showed no remorse in leaving people staring in disbelief, with empty bags, as they watched the food that could be feeding their families dumped into a landfill instead.
This is beyond STUPIDITY!
Its way beyond stupidity, Alison. It’s downright Evil.
it sure as hell is stupid and evil as hell! this is one incidence how about the 25555,000 children starving to death every day because of greed and stupidity.the stupidity is the people having kids they cannot feed.
Worth repeating:
Bringing children into the world is as natural as fucking. The kind of Wal-Mart, Wall Street, and 1% greed we see today, and for all of known history since usury was started and stopped and re-started, stupid is bringing children into a post-1950s and Rachel Carson world, ecologically speaking. The daily consumption of fish containing 5 to 6 ppm of mercury poses a lethal threat. Lethal doses of methyl mercury result in death to humans.
i don’t know what happened to the number above but it was supposed to be 25.000. the keyboard on this laptop is sticky and hard to press.
-
Christina Marlowe joined the group
Economic News Discussion 1 month, 3 weeks ago · View -
Ed Diver posted an update in the group
Economic News Discussion: 2 months, 1 week ago · View“We all know it’s going to end badly, but in the meantime we can make some money” – Jim Cramer 3/5/2013: Read that quote folks and burn it into your memory. He didn’t say that because he was being smart, he said it in response to Stanley Drukenmiller telling the morning crew on CNBC how bizarre things have gotten. Cramer had no intelligent bullish response and coughed up that line. Funny, it’s one of the few honest things he’s ever been forced to say.
”Those that embrace socialism instead of capitalism.”
SOCIALISM IS NOT AN ECONOMIC MODEL ITS A GOVERNMENTAL MODEL. that is rich guy scare tactics as much as socialism = communism = fascism when in fact the U.S. has very little REAL socialism and a whole lot of fascism.
Germany is Socialistic and Capitalistic and they currently have the most stable economy in the EU.
-
Kryten joined the group
Economic News Discussion 2 months, 2 weeks ago · View -
Ed Diver posted an update in the group
Economic News Discussion: 3 months ago · ViewThere is just so much happening at the moment.. it’s hard deciding wither to run hide or scream… grow a big garden?
-
Ed Diver posted an update in the group
Economic News Discussion: 3 months, 1 week ago · ViewIs This The Beginning Of A Horrifying Stock Market Crash In Europe?
-
Alison posted an update in the group
Economic News Discussion: 3 months, 3 weeks ago · ViewInteresting results of statistical data concerning the ”working poor”
ttp://www.workingpoorfamilies.org/wp-content/uploads/2013/01/Winter-2012_2013-WPFP-Data-Brief.pdf
Too bad no one pays attention to the ”Proof”!
-
Ed Diver posted an update in the group
Economic News Discussion: 7 months, 1 week ago · ViewWarren Buffett, Jeff Bezos, Larry Ellison All Lose More Than Half A Billion Each On Bad Day For World Economy
-
Ed Diver posted an update in the group
Economic News Discussion: 7 months, 1 week ago · ViewChina vs. Japan: The Loser Could Be the Global Economy
-
Ed Diver posted an update in the group
Economic News Discussion: 8 months, 1 week ago · ViewMax and Stacey and Catherine Austin Fitts on Gina Rinehart and the Killer Class
-
Ed Diver posted an update in the group
Economic News Discussion: 8 months, 1 week ago · ViewThe Final Hurrah
An excerpt from The International Forecaster’s weekly publication.
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/The_Final_Hurrah
-
suze parker joined the group
Economic News Discussion 8 months, 2 weeks ago · View - Load More


A report by the National Employment Law Project last summer said that mid-wage occupations — paying $14 to $21 an hour — accounted for 60 percent of the job losses during the recession, but just 22 percent of the job growth in the recovery. By contrast, low-wage jobs — defined as those paying $7 to $13 an hour — had accounted for 58 percent of the job growth as of last summer, while they accounted for just 21 percent of the job losses during the downturn.