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 […]
Tag Archives: European Debt Crisis
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 […]
Is Greece an Omen of a Future America?
Imagine sitting on a beach. The tide is out. Things look static. You’ve set up your chair, beach towel, maybe you’ve even constructed a little sand castle. The tides come in slowly at first, then without warning a big wave comes rushing toward you, swamping you and your belongings. We think we’ve learned from history. We […]
Tyranny Engulfs Europe: Neo-liberalism in Greece and Spain
When I was a child, friends and I would waste time on the railroad tracks behind my house. The funny thing about industrial trains is that you’d think the massive hulk of steal and engine would be audible from a mile away and yet we continued to find ourselves surprised at how silently it approached. […]
The Great Privatization
We’ve already discussed at some length how increased spending, especially in medical entitlements, will ultimately lead to a serious budget and currency crisis. While no one knows exactly how or when the crisis will unfold, we can make certain predictions about the US government’s response. It’s reasonable to suggest they will act similarly (although not […]
The Secret Conception of the European Super State
The UK’s Telegraph reported yesterday on the leak of a German memo in which the economic powerhouse intends to create a new “super state,” whereby they will be able to control the economies of European nations. So much for national sovereignty. This is the kind of arrangement that only a few years ago would have […]