Posted by seumasach on November 13, 2011
9th November, 2011
Third-world America: Michigan city cuts power, removes street lights due to inability to pay electric bill
In response to financial problems, some US cities are choosing to cut basic public services like trash collection, fire and police forces, and road repair just to stay afloat. But one city in Michigan has decided to cut its power instead, which has left more than 11,000 local residents without street lights.
Posted in Financial crisis | Tagged: End of empire | Leave a Comment »
Posted by seumasach on August 15, 2011
“The euro zone is an economy that, on aggregate, does look stronger than the U.K.,” Sara Yates, a London-based strategist at Barclays Plc, said last week by phone. Yates predicted that the pound would weaken to 95 pence per euro in three months. “Sterling looks more vulnerable. When you look at the fundamentals of the U.K. economy, it’s very weak.”
15th August, 2011
Britain’s allure as a haven is crumbling as global investors desert sterling amid the lowest inflation-adjusted bond yields on record and a faltering economy.
Posted in UK economy | Tagged: bankrupt Britain, End of empire | Leave a Comment »
Posted by seumasach on August 13, 2011
Paul Craig Roberts
11th August, 2011
If Russian prime minister Putin’s recent description of America as “a parasite on the world” were reported by the US media, little doubt that most Americans would be infuriated. We are the virtuous people. Without us good guys to police the world there would be mayhem and wars everywhere, not merely the ones we started in the Middle East, Asia, and North Africa. Without the American white hats people everywhere would be starving and dying from natural disasters. It is us chosen ones who provide the rescue operations and good deeds. How dare the former KGB monster to slander our country!
Posted in Currency Wars, Financial crisis | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on August 6, 2011
Joe Mount
2nd August, 2011
Four Kenyan citizens are to sue the UK government for the treatment they received during the suppression of the Mau Mau uprising during the early 1950s when their country was a British colony. The case has finally reached court because the victims’ lawyers have forced the British government to release documents it has kept secret for more than half a century.
Posted in Uncategorized | Tagged: End of empire | Leave a Comment »
Posted by seumasach on July 27, 2011
27th July, 2011
We have had a “natural rate” of economic growth of around 3% for a couple of hundred years. There have of course been peaks and troughs, but the trend has been consistent. If anyone wants to quibble with the precise 3% figure, that does not affect my argument.
Posted in UK economy | Tagged: End of empire | Leave a Comment »
Posted by seumasach on July 24, 2011
Zachary A.Goldfarb
24th July, 2011
Wall Street’s top concern is no longer that the United States will fail to increase the federal limit on borrowing by Aug. 2 but that political leaders will fall short in their negotiations over an ambitious plan for taming the nation’s debt, according to financial analysts.
Posted in Financial crisis | Tagged: dollar collapse, End of empire | Leave a Comment »
Posted by seumasach on July 22, 2011
The Enemy is Washington
Paul Craig Roberts
22nd July, 2011
Recently, the bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress did not reach a deficit reduction deal and debt ceiling increase. The downgrade threat is not credible, and neither is the default threat. Both are make-believe crises that are being hyped in order to force cutbacks in Medicare, Medicaid, and Social Security.
Posted in Uncategorized | Tagged: economic collapse, End of empire, Obama agenda | Leave a Comment »
Posted by seumasach on July 21, 2011
John Glaser
20th July, 2011
The U.S. Navy is considering moving its Fifth Fleet from where it has long been stationed in Bahrain’s capital, Manama. Bahrain’s ruling al Khalifa family has beenviolently cracking down on pro-democracy protesters in recent months and rising allegations of systematic human rights violations are creating a public relations issue for the U.S., a longtime supporter and ally of the dictatorship.
Posted in Uncategorized | Tagged: Arab revolution, bahrain, End of empire | Leave a Comment »
Posted by seumasach on July 18, 2011
11th July, 2011
Russian Prime Minister Vladimir Putin accused the US of hooliganism on Monday over the US government’s efforts to ease its financial problems by injecting hundreds of billions of dollars into the economy.
Posted in Currency Wars | Tagged: dollar collapse, End of empire, financial collapse, QE3 | Leave a Comment »
Posted by seumasach on July 14, 2011
14th July, 2011
BEIJING — China on Thursday urged Washington to protect the interests of investors after ratings agency Moody’s placed the United States’ triple-A debt rating on a downgrade watch.
Posted in Financial crisis | Tagged: dollar collapse, End of empire, QE3 | Leave a Comment »
Posted by seumasach on July 6, 2011
The Great Misdiagnosis of the US Economy, Problem Is Insolvency Not LIquidity
Jim Willie
1st July, 2011
Imagine a doctor who administers an elaborate treatment for a man suffering from multiple broken bones, joint arthritis, and fallen foot arches. The quack doctor orders massive amounts of liquids as though he has a horrible case of dehydration. The inept doctor also permits unlimited freedom of movement around the hospital and its grounds to the patient, as part of the blunt treatment. The man still cannot walk right or breathe normally, has trouble lifting any significant weight with the arms, and stumbles around from shaky legs. But he has plenty of fluids and freedom to roam, urinating like a race horse. With the heavy mistreatment that is badly off the mark, he has a new problem, diarrhea and bloat together. His doctor is an idiot, incompetent, but still given respect.
Posted in Financial crisis | Tagged: bond market bubble, dollar collapse, End of empire, US bond markets | Leave a Comment »
In These New Times 