How Western Powers May Have Blown It
The last time this sort of economic destabilization occurred (in the 1930s), panic set in as it has now. It was only via World War II that the world’s economies were rescued and set on track for renewed growth. But a world war is infinitely more difficult to come by these days. With that option at least partially precluded (we think it is anyway, though a war with Iran is always a possibility) and with the truth-telling of the Internet continuing to expose every power elite machination literally in real time it is very difficult to tell what is going to happen next. Of course, as we wrote yesterday, we don’t know if there will be a dollar meltdown (and a metals melt up) sooner – or later. Perhaps one will
occur after the US elections as the shorts come under increased pressure. Timing is a lot harder to calculate than trends.
What we do know is that the Western power elite is a stubborn and powerful force and that it has plenty of levers to pull that can still influence economies immensely in the West and around the world. As we were finishing this article, a
feedbacker sent us a link to an announcement that the Fed is apparently about to hold a major conference at Jekyll Island, commemorating the secret meeting held 100 years ago that created of the Fed. (This just after initiating its
controversial QE2 program.) The elite may be losing control, and may be increasingly panicked about it. But these kinds of tin-eared, self-congratulatory occurrences (such as the reported, upcoming Fed meeting) make us wonder increasingly if the powers-that-be have fully grasped the magnitude of what has been unleashed.
9 Reasons Why Quantitative Easing Is Bad For The U.S. Economy
The truth is that many economists fear that an out of control Federal Reserve is “crossing the Rubicon” by announcing another wave of quantitative easing.
So will $900 billion be enough to get the debt spiral cranked up again?
If 1.8 trillion dollars didn’t work before, why does the Federal Reserve think that 900 billion dollars is going to work now? This new round of quantitative easing will create more inflation and will cause speculative asset bubbles, but it is not going to fix what is wrong with the economy. The damage is just too vast as Charles Hugh Smith recently explained….
Anyone who believes a meager one or two trillion dollars in pump-priming can overcome $15-$20 trillion in overpriced assets and $10 trillion in uncollectible debt may well be disappointed.
Election Over, Neocon Republicans Talk War
It is time to get down to business now that Republicans are flush with victory. You’d think that business would be dismantling Obamacare or moving to outlaw the Federal Reserve. For establishment Republicans and their neocon buddies, however, the first item on the agenda is to make sure the war agenda moves forward.
Hours after the Republicans realized their historic victory, U.S. Rep. Howard P. “Buck” McKeon, who is the top Republican on the House Armed Services Committee, wasted little time revealing the “broad vision for national defense policy that emphasizes winning the wars in Afghanistan and Iraq while also investing in the capabilities and force structure necessary to protect the United States from threats of tomorrow,” according to The Santa Clarita Valley
Watch Out: The World Bank Is Quietly Funding a Massive Corporate Water Grab
Billions have been spent allowing corporations to profit from public water sources even though water privatization has been an epic failure in Latin America, Southeast Asia, North America, Africa and everywhere else it’s been tried. But don’t tell that to controversial loan-sharks at the World Bank.
From its cultural imperialism and insensitivity to regional differences to its domination by a handful of economic elites drunk on deregulation, whose utter failure needs no further example than our continuing global economic crisis,
the World Bank’s good intentions have been compromised by an unending string of terrible press and crappier deals.