This is a good read. Via CNN. For the American economy – and for many other developed economies – the elephant in the room is the amount of money paid to bankers over the last five years. In the United States, the sum stands at an astounding $2.2 trillion. Extrapolating over the coming decade, the […]
Remember this colorful exchange between Senator Carl Levin (D-MI) and Dan Starks of Goldman Sachs, who described in an internal e-mail that the securities Goldman sold was (on Timberwolf) is “one shitty deal?” Watch this video on YouTube ————- Watch this video on YouTube Well now, chickens are coming home to roost and Goldman could […]
The month of August accounted for zero job growth in the USA.(HuffPo) The U.S. economy added no new jobs in August as the unemployment rate stayed steady at 9.1 percent, the Bureau of Labor Statistics reported on Friday, the most concrete sign yet that the recovery has stalled out and a double-dip recession may well […]
Once again, the bankster cartel wins. The Greek Parliament just voted for more austerity measures. Don’t get me wrong, austerity is a good thing. It should be done. But not at gunpoint and threats that are solely aimed at saving the way of life for the bankster cartel. The only thing this will do is […]
I began writing this piece In February 2011, during the revolution in Egypt. Everybody who is following the current turmoil in Greece or who had even peripherally followed the recent events in Egypt knows that these are nothing short of extraordinary days. Not just Egypt and Greece, there were more revolutions in 2011 (e.g. Tunisia, […]
This via Zero-Hedge With just days left until the crucial vote on passing the Greek mid-term austerity package, the assured destruction rhetoric used by the Greek status quo has hit fever pitch. Just to make sure the message is not lost on the broader population that Europe’s banks will not admit defeat in a vote […]
A little over a year ago the pronouncement that Greek was rescued from the brink was a big fat Greek lie. Anybody who paid a slight bit of attention to the truth behind the headlines would have known this. In the 2010 deal mainly Germany and other European nations came to the rescue of Greece […]
Next time a Wall Street fat cat or a fat-cat apologist says one of the following to you: “You that you don’t understand the complex world of finance….” “It is the deadbeat home-owners who are responsible for housing crisis…” “The Bankers made an honest mistake and didn’t really need a bailout….” Confront him/her with the […]
Europen Union announced the 85 billion Euro ‘rescue package for Ireland.’ Like in the case of AIG bailout – which only helped the likes of Goldman to recover 100 cents on the dollar, the real intent of this Ireland package is to give the banks 100 cents on the dollar on all the sovereign loans […]
