Tag Filter: Financial Crisis

Updated Healthcare Spending Graphs Are as Bleak as Ever

In 2012, I created this chart, which mapped out US federal government spending on healthcare from 1960 to the Congressional Budget Office’s projections up to 2022, which was the most recent data they had available at the time.  For a while now, I’ve wanted to update that chart to address some criticisms people had.
First, I [...]

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Seven Reasons Bernanke’s Failure to Taper Portends Doom

Yesterday, Federal Reserve Chairman Ben Bernanke announced that the government would not slow its bond purchasing (money printing) because the economy had not yet improved sufficiently. The magnitude of this decision is still being absorbed, but may have negative effects on the entire world in the coming years.
How exactly? This might be a bit wonky, [...]

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Poland Confiscates Retirement Accounts and Yes, It’s Coming Here

Poland recently announced that it was nationalizing the country’s private retirement accounts, their equivallent of 401(k)s. While residents will continue to have access to the funds just as they normally would, the move places private assets on the country’s public balance sheet. While this maneuver was in the works for sometime, of course, the devil [...]

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US, UK, and Canada Have Plan To Allow Banks to Seize Depositor Accounts

In our last story, we noted how government backed loans in the housing market encourages rising home and rent prices throughout the nation, a transfer of wealth from almost every single American to various establishment organizations. Now we have another example of banks transferring risk to the taxpayer.
The term “Too Big To Fail” should have [...]

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Government Pushes For a New Housing Bubble; Backs Subprime Loans With Taxpayer Dollars

The divide between what the majority of people want verses what the establishment wants is never greater than it is when discussing property values. Those who have assets want them to rise in price, while the poor and those just starting out want lower prices they can afford. Of course, they have no political power. [...]

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James Howard Kunstler on PeakProsperity.com

This is a repost from Chris Martenson’s website PeakProsperity.com where he interviews author James Howard Kunstler on the state of the US society and economy. It’s a great interview and worth reposting here for posterity. Kunstler touches on a lot of themes, most notably the ongoing collapse of key infrastructure which amounts to an ongoing, [...]

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Alien vs Predator: Election 2012 Post-Mortem

“Whoever wins, we lose.”
That was the tagline for 2004’s critical bomb Alien vs. Predator where two franchises battle on Earth for supremacy. I haven’t seen it, but looking at the recent election, there seems to be something to the comparison — powerful forces fighting each other for control of the planet, it’s current inhabitants irrelevant or [...]

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A Few Thoughts on Ryan & the Catholic Church

Normally, I prefer not to comment on the traditional political discourse, mostly because these days, politicians are all the same. The two parties ultimately serve the same “Washington Consensus,” that is, corporate interests who in turn control the money power. Political personalities like Obama and Romney only look radically different because they argue very intensely [...]

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There’s No Conflict of Interest Here You Idiots

In an article titled “GOP Senate Nominee Would Profit From Government Default“ Talking Points Memo reports that Ohio Senate nominee Josh Mandel has a short position on US Treasury bills. The candidate’s stated position is to “stop raising the debt ceiling.” The site argues that if the debt ceiling is not raised, the US would [...]

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David Stockman: We Will Suffer One Crisis After Another

We hear a lot these days that due to high levels of sovereign and private debt, we will be unable to avoid a massive financial collapse, reshaping the world as we know it. Usually, proponents argue the collapse will happen quickly, bringing about a short term political vacuum and by necessity, a new economic model. Odd as [...]

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