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POPSPakistan Gets a Bailout Plan Too U.S. taxpayers are unknowingly among the group called "Friends of Pakistan". AI is not just Wall St that Main St is bailing out, and in this the U.S. taxpayer has no choice. "Pakistan is seeking as much as $8bn from the Friends of Pakistan.
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POPSWhat Keynes really planned Sorry but I can't edit it well. The whole article does describe an involved scheme which was rejected by the USA and which Monbiot reckons should be adopted now
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POPSIf Entire Countries Go Broke, We'll Go With Them
The root of today's credit crisis is not that the world lacks money; the world is awash in cash, with $6 trillion sitting idly in global money markets alone. But if countries start to fail, the remainder of the world's investment capital could be spooked out of productive investments as well. Nor do we have the tools to avert disaster. The International Monetary Fund's resources are a pittance compared to the financial exposure of the countries in most danger. And as a result of the industrialized world's government bailouts and bank guarantees, there won't be any more capital for emerging markets that are still flailing. Take, for example, a country as large and powerful as Germany: Deutsche Bank's assets represent 80 percent of the nation's GDP. In Switzerland, the assets of the bank UBS represent 450 percent of the country's GDP. The financial exposure of the British banks is similarly alarming: Barclays PLC's assets amount to more than 100 percent of the United Kingdom's GDP,
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POPSI was wrong, Bush was right: Clinton A lot of people still don't care about, or don't accept, that a food shortage for all is actually happening. The water shortage is tipped to lead to wars. Watch the film "Mad Max" for a glimpse of a future.
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POPSWhite House Ignores Spain - No Invite to Economic Summit "Democrat Barack Obama, during his first debate with Republican John McCain, noted the Arizona senator's stated resistance to meeting with Prime Minister Jose Luis Rodriguez Zapatero, a Socialist who was elected in 2004 and reelected this year. During the debate at Ole Miss, an incredulous Obama said, "He even said the other day that he would not meet potentially with the prime minister of Spain, because he -- you know, he wasn't sure whether they were aligned with us. I mean, Spain? Spain is a NATO ally.""
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POPSA President whose time has come! Ex President Clinton is about to shine and not before time; like Al Gore and Bill Gates these guys have the ability to really lead now. The World needs their wisdom.
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POPSCrisis marks the end of Western economic hegemony Used to be that other regions got in financial trouble and were forced to submit to the IMF's rules. Now the west is in trouble, Asia holds the cash, and we owe them. This marks a major shift in who decides how the world's economy will work - de-legitimizing, for instance, the G-7. And the G-7 don't realize it yet.
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POPSGlobal freeze kills Nordic tiger The banks made the country wealthy and when they died so has the country. Banks have proven our dependence on them lately. Many will go back to cash under the bed.
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POPS Main Street vs Wall Street While this is unpleasant for those who work in the field, it is necessary to achieve better balance in our overall economy. We could see a large reduction in the number of firms and the number of people employed in financial services without impairing households’ ability to invest safely or obtain credit that they can use prudently. Rogoff views the financial bailout as akin to a tariff for the steel industry or a subsidy for the auto industry. It is testimony more to the power of the financial industry’s political connections than to its role in the economy. Banks are important, yes. But so are manufacturing firms and software companies. When the Internet bubble popped, we did not send government aid to the technology industry, which has since recovered nicely following a shakeout. The other claim that is made on behalf of the bailout is that Treasury will make a profit for taxpayers by buying distressed mortgage-related assets.
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POPSBash the Bailout: Government is Not the Answer
......banking crisis, they make things worse. This is a long paper, but see p. 4 in particular. 10. One of the oldest forms of government intervention in the financial markets has been deposit insurance. Yet globally it destabilizes capitalism, impedes innovation and makes a bad regulatory regime worse. British economist Andrew Lilico explains how. 11. Harvard economist Jeffrey Miron puts it bluntly: “The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place.” 12. Government has been becoming more intrusive when it comes to lending over the years. John Berlau looks at how they want to fingerprint anyone originating a home loan. The bailout bill is now law, but it does little or nothing to solve the problems government created. As long as they persist, the financial markets will be at serious risk. In the end, we may need to bailout the bailout.
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POPSDo Jews Really Provoke War & Bank Scams? > Richard Perle's Pentagon advisory group > Former deputy secretary of defense Paul Wolfowitz, now head of The International Monetary Fund. > Elliot Abrams > Kenneth Adelman > Douglas Feith > William (Bill) Kristol - Irving Kristol > American Enterprise Institute (AEI) > Project for the New American Century (PNAC) > The Heritage Foundation > Jewish Institute for National Security Affairs (JINSA). >American Israel Public Affairs Committee (AIPAC) > American Israel Public Affairs Committee Below are Chairman or CEO's of the Major Big Bank failures in the USA ( > Lloyd Blankfein: Chairman & CEO of Goldman Sachs Here. > Stephen Roach: Managing Director & Economist of Morgan Stanley Here. > Martin Feldstein: Director of American International Group (AIG) Here. > Alan Fishman: CEO of Washington Mutual (WaMu) Like most of us we've heard such accusations throughout history: divided loyality, pushing nations into war, and fleecing the bankin
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POPSEx-Finance Ministers Offer U.S. Economic Advice Will the U.S. be open to advice from anyone else? We Americans have always prided ourselves on being at the 'giving' end of advice. To now realize that other countries think we are in need of it might be a little difficult to swallow. Judging by the way Bush and company have allowed this country to be run to a near stand still due to the wholesale plundering by corporate America, I think the time is right for a little friendly budgetary advice. Whether we are still too proud to take it is another matter.
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POPSChavez To Discuss Joint Banking Venture During Moscow Visit The socialist leader, an outspoken critic of Washington and opponent of neoliberalism, has focused his foreign policy on bolstering ties with countries outside the U.S. sphere of influence since coming to power nine years ago. Chavez said last week he expected to meet Russian President Dmitry Medvedev and discuss a number of industrial and technological projects as part of a visit aimed at boosting bilateral relations. PetroCaribe is a regional energy security alliance between Caribbean countries and Venezuela established in 2005. The alliance enables its 17 member countries to purchase Venezuelan oil under a flexible credit payment system.
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POPSHe Saw It Coming What economic developments does Roubini see on the horizon? And what does he think we should do about them? The first step, he told me in a recent conversation, is to acknowledge the extent of the problem. “We are in a recession, and denying it is nonsense,” he said. The United States, Roubini went on, will likely muddle through the crisis but will emerge from it a different nation, with a different place in the world. “Once you run current-account deficits, you depend on the kindness of strangers,” he said, pausing to let out a resigned sigh. “This might be the beginning of the end of the American empire.”
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POPSYou Owe $455,000 * “People seem to think the government has money,” said former U.S. Comptroller General David Walker. “The government doesn’t have any money“ * The United States Department of the Treasury and the Office of Management and Budget published a report stating that the U.S. cannot grow our way out of the government’s liabilities, that the liabilities are quickly growing, and that failing to take drastic and immediate action would lead to very bad consequences (the report was written in 2006) * The International Monetary Fund - which oversees third-world economies - are so concerned about the solvency of the U.S. economy that they are conducting a complete audit of the whole US financial system If you owed $455,000, you might very well have to file for bankruptcy, unless you had some rich uncle who could bail you out. But if your uncle had bailed you out numerous times in the past and if you had consistently broke your promises to re-pay him - he’d probably cut you off
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POPSPut A Stop To Cut-Rate Gas: International Monetary Fund Governments that try to create a false economy for oil are not revealing the truth to their people. About half of humanity, from India to Chile, now benefits from cut-rate petroleum prices. In 2008, these countries will account for all the growth in world oil demand, or an additional one million barrels a day, according to Deutsche Bank. Their consumption will be the highest in eight years. In China, oil demand is estimated to rise 5 to 10 percent this year, but the government has resisted calls to end price controls. A few other countries – Chile and South Korea – are now moving toward subsidies to appease political pressures. In Congress, bills to combat global warming would raise costs for oil users, even possibly adding a dollar to gasoline prices. But proposals by lawmakers to relieve those costs with subsidies to consumers would only defeat the purpose of reducing oil demand.
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POPS The End of U.S. Imperialism? Global hedge funds are not the only byproducts of U.S. policy that are turning on their creator. The International Monetary Fund (created by the U.S. largely at the end of WWII and controlled completely U.S. finance as the world’s capitalist currency was pegged to the U.S. dollar until the early 1970s, when the acquisition of dollars by European and Middle Eastern interests made that impossible to continue) is now openly criticizing U.S. deficits, trade policy, and for that matter, the lack of universal health care in the U.S. Additional coverage: Podcast #72 - A New Deal for America PA Editors Blog * No hobbits! * National Call-in Day on Diplomacy with Iran * C-SPAN Discussion of HR 676 Tuesday Night Subscribe to this Feed Headlines by FeedBurner As few U.S. politicians understand, and as the insurance and pharmaceutical company health care complex goes to great lengths to keep them from understanding, the private insurance based health care system here ma
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