The monster of economic waste—over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations—started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, a former Wall Street CEO, redefined unlawful ‘stock manipulation’ to exclude stock buybacks.
RT on Aug 9, 2017
In this episode of the Keiser Report Max and Stacy discuss the coming sequel to the global financial crisis and the bond bubble warnings from Alan Greenspan. In the second half Max interviews Dr. Michael Hudson about Trumponomics, anti-trust, repeat banking offenders and his father’s proverbs.
Excerpted from Chapter 1 of Blackshirts and Reds
While walking through New York’s Little Italy, I passed a novelty shop that displayed posters and T-shirts of Benito Mussolini giving the fascist salute. When I entered the shop and asked the clerk why such items were being offered, he replied, “Well, some people like them. And, you know, maybe we need someone like Mussolini in this country.” His comment was a reminder that fascism survives as something more than a historical curiosity.
TheRealNews on Aug 4, 2017
Rising stock prices is not an indicator of financial health like Trump would have you believe, specially when you examine who is buying that stock, says economist Michael Hudson, the author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy.
Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions. The Federal Reserve could do a round of “QE for Munis.” Or the state could turn its sizable pension fund into a self-sustaining public bank.
Note: replaced video with most current one
leftymathprof on Jul 26, 2017
“Love your neighbor” is not enough — it is subverted by hierarchy and property, which seem “normal” but are the causes of all our problems — war, poverty, alienation, the destruction of the ecosystem, etc. Hierarchy and the market both concentrate power, which corrupts. The solution begins with getting more people talking about it.
RT America on Jul 9, 2017
On this week’s episode of On Contact, Chris Hedges travels to Cambridge, Massachusetts for a conversation with America’s most important intellectual, Professor Noam Chomsky. In Part II of their conversation, Chomsky discusses the principles of concentration of wealth and power that are defined in his latest book, Requiem for the American Dream.
RT America on Jul 1, 2017
On this week’s episode of On Contact, Chris Hedges travels to Cambridge, Massachusetts for a conversation with America’s most important intellectual, Professor Noam Chomsky. In Part I of their conversation, Chomsky discusses the adverse effects of neoliberalism on the working class, as addressed in his book, Requiem for the American Dream: The 10 Principles of Concentration of Wealth & Power.
Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too.
Let’s face it. There is no way the US government is ever going to pay back a $20 trillion federal debt. The taxpayers will just continue to pay interest on it, year after year.