Archive for the ‘Financial crisis’ Category
The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
Posted by smeddum on February 9, 2009
GOLD DISCONNECTS FROM USDOLLAR
Jim Willie CB February 5, 2009
home: Golden Jackass website
The gold price has finally disconnected from its nemesis, the USDollar. This news should be read as the coming of spring after months of wintry torment, or as the sighting of land after 30 days adrift at sea in a derelict vessel. From 2002 to very early 2008, the gold price had risen from the massive speculative fervor that swept the United States and Europe, whose economies had been supplied largely by Asian factories. The mines from Latin America to South Africa to Australia greatly aided the process. The very paradoxical event of the USDollar rising this past autumn amidst truly horrendous news, one disaster after another, one major bank failure after another, one nationalization of a large financial institution after another, makes the disconnect all the sweeter for gold investors. That set the stage for a powerful gold price move. Imagine a notable rise in the buck, based upon broad negative news in August and October! Read the rest of this entry »
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Posted by seumasach on February 9, 2009
This is an absolutely indispensable guide to the present crisis. Mr Engdahl, echews the narrowness of the standard expert or academic point of view and instead shows his overall grasp of these great events in their totality, linking politics, geopolitics and economics within their historical context.
The Real News Network
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Posted in Financial crisis | Tagged: Afghanistan, crisis in anglosphere, End of empire, financial collapse, Obama agenda, william engdahl | Leave a Comment »
Posted by seumasach on February 8, 2009
Times
February, 2009
Barclays Bank is ready to award bonuses of up to £1.1 million to corporate bankers who pulled the plug on Woolworths and other leading high street names.
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Posted in Financial crisis | Tagged: Banker bonuses, financial fraud, stop the bailout | Leave a Comment »
Posted by smeddum on February 6, 2009
Governments growing nervous at increased social tensions
3/2/09
Irish Times
JAMIE SMYTH EUROPEAN DIARY: A continent-wide sense of injustice leaves Europe vulnerable to an explosion of unrest ONE MILLION workers on the streets of France, wildcat strikes in Britain, rioting in Greece and the Baltic republics and sit-in protests by glass workers in Waterford: social unrest is spreading throughout Europe and no one knows where it is all going to end. Read the rest of this entry »
Posted in Financial crisis | Tagged: Battle for Europe | Leave a Comment »
Posted by seumasach on February 6, 2009
Global Economic Analysis
5th February, 2009
Mercury News is reporting Counties threaten tax revolt against California budget
California counties are throwing another wrinkle into the state’s cash crisis as Gov. Arnold Schwarzenegger and legislative leaders try to agree on a way to erase a $42 billion budget deficit.
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Posted in Financial crisis | Tagged: california goes bankrupt, financial collapse, the states go bankrupt | Leave a Comment »
Posted by smeddum on February 5, 2009
Unrest brews as the government implements crisis measures to save the economy.
DUBLIN — At 2 a.m., with time for compromise running out, the Irish prime minister finally presented his emergency plan for the floundering economy to the country’s trade union leaders. Read the rest of this entry »
Posted in Financial crisis | Tagged: Battle for Europe | 1 Comment »
Posted by smeddum on February 5, 2009
The Bank of England was accused of launching an “assault” on savers as it slashed interest rates to a new record low.
Consumer groups and trade bodies expressed anger at the latest 0.5 per cent reduction, arguing that it penalised savers, while doing little to help the majority of borrowers. Read the rest of this entry »
Posted in Financial crisis | Tagged: assault on savers | Leave a Comment »
Posted by smeddum on February 5, 2009
February 5, 2009
By Paul Anderson
For some the idea that China can “decouple” from the US is blasphemous. Indeed, China has no immediate intention of depegging from the dollar. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: China, End of empire | Leave a Comment »
Posted by smeddum on February 5, 2009
Can Countries Really Go Bankrupt?
By SPIEGEL Staff
30/1/09
The bailout packages aimed at shoring up financial markets in Europe are getting increasingly expensive. A creeping depreciation of currency is inevitable and state bankruptcies can no longer be ruled out. Could the euro zone also fall victim to the global financial crisis? Read the rest of this entry »
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Posted by smeddum on February 5, 2009
As recession ravages their assets, the rich retrench
1/2/09
By John Waggoner, USA TODAY
The rich may not be quite so different than you and me these days: They, too, have less money.
Their fortunes have fallen along with the prices of stocks, oil and real estate. Read the rest of this entry »
Posted in Financial crisis | Tagged: luxury goods in decline | Leave a Comment »
Posted by smeddum on February 5, 2009
By Norma Cohen
February 3 2009
Financial Times
Pension liabilities at 13 companies in the FTSE 100 index are now larger than their market capitalisations, according to new analysis from Pension Capital Strategies, a pensions consultancy, and Numis Securities. Read the rest of this entry »
Posted in Financial crisis | Tagged: pension shortfall | Leave a Comment »
In These New Times 