Posts Tagged ‘stop the bailout’
Posted by seumasach on March 8, 2009
Banking crisis undermines Britain’s reputation as a safe place to hold funds
7th March, 2009
A silent $1 trillion “Run on Britain” by foreign investors was revealed yesterday in the latest statistical releases from the Bank of England. The external liabilities of banks operating in the UK – that is monies held in the UK on behalf of foreign investors – fell by $1 trillion (£700bn) between the spring and the end of 2008, representing a huge loss of funds and of confidence in the City of London.
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Posted in Financial crisis | Tagged: End of empire, failing banks, financial collapse, stop the bailout | Leave a Comment »
Posted by seumasach on March 7, 2009
“Today’s unparalleled expansion of federal debt and obligations is being dressed up as textbook “Keynesian”. It’s rather obvious that we are in dire need of some new books, curricula and economic doctrines. But from a political perspective, the title is appropriate enough. From an analytical framework perspective such policymaking is more accurately labeled “inflationism” – a desperate attempt to prop inflated asset prices, incomes, business revenues, government receipts, and economic “output”. There have been many comparable sordid episodes throughout history, and I am not aware of any positive outcomes.”
Doug Noland
Asia Times
3rd March, 2009
Bloomberg’s Mark Pittman and Bob Ivrya reported last Tuesday: ” … the US government has pledged more than US$11.6 trillion on behalf of American taxpayers over the past 19 months, according to data compiled by Bloomberg. Changes from the previous table, published February 9, include a $787 billion economic stimulus package. The Federal Reserve has new lending commitments totaling $1.8 trillion. It expanded the Term Asset-Backed Lending Facility, or TALF, by $800 billion to $1 trillion and announced a $1 trillion Public-Private Investment Fund to buy troubled assets from banks. The US Treasury also added $200 billion to its support commitment for Fannie Mae and Freddie Mac … ”
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Posted in Financial crisis | Tagged: financial collapse, Financial crisis, inflationism, stop the bailout | 1 Comment »
Posted by seumasach on March 5, 2009
This can’t be happening
4th March, 2009
The futility and stupidity of the Fed’s and the Obama administration’s policy of pumping ever more money into failing banks and insurance companies in a vain effort to get them lending again was demonstrated—if anyone was paying attention—by the collapse in auto sales this past month, with all the leading companies, Ford, GM and Toyota, reporting sales down by about 40%.
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Posted in Uncategorized | Tagged: failing banks, financial collapse, Obama agenda, stop the bailout | 1 Comment »
Posted by seumasach on March 4, 2009
I,m intrigued by this notion of pumping money “into the economy”. Could they be more specific? Will I wake to find envelopes stuffed with £20 notes have been pushed through my letter box? Or will it all go to help buy certain worthless securities which our financial institutions have been accumulating? Definately a “no-brainer”. Click here for an explanation of quantitaive easing
Guardian
4th March, 2009
The Bank of England is expected to reduce interest rates to yet another record low tomorrow lunchtime; but with their rate-cutting ammunition all but exhausted, governor Mervyn King and his colleagues are expected to press the button on a much more drastic policy — quantitative easing.
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Posted in Uncategorized | Tagged: bankrupt Britain, failing banks, Financial crisis, financial fraud, quantitative easing, stop the bailout | Leave a Comment »
Posted by seumasach on March 2, 2009
More baloney from Brown. He’s trying to fool everyone into conceding global institutions under Anglo-american control. He’s is, of course, the last person to want to open up tax havens. Since most of them are under British jurisdiction anyway, what is to stop him from doing this without global institutions.
Brown’s nationalised banks just mean the banks do as they like and the taxpayer picks up the bill. In other words, it is simply fraud on an unprecedented scale
As for his harsh words about the bankers, they know this is a necessary little game, and know the the funds will continue to flow their way. They know this little charlatan with his mock gravitas is entirely under their control.
By Christina Fincher
LONDON, Feb 28 (Reuters) – British Prime Minister Gordon Brown called for more rigorous global supervision of the banking system on Saturday, saying no hedge fund or tax haven should be allowed to fall through the cracks.
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Posted in Financial crisis | Tagged: Brown baloney, financial collapse, financial fraud, stop the bailout | Leave a Comment »
Posted by seumasach on March 2, 2009
Richard C. Cook
Rense.com
3rd March, 2009
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| “The Last Picture Show” was a 1971 film depicting the decay of small town America. It took place in the fictitious town of Anarene, Texas.
We hear a distant tune reminiscent of America’s high and lonely places and the sound of a dry wind blowing. It’s March 2010 in the tiny West Texas town of Anarene. Nothing much happens here any more. The last business shut down a couple of years ago. It was a cement plant that went broke after the housing bubble burst and the banks stopped lending. The kids out of high school drive their jalopies from one end of Main Street to the other past boarded-up storefronts. Read the rest of this entry » |
Posted in Financial crisis | Tagged: Financial crisis, monetary reform, Obama agenda, stop the bailout | Leave a Comment »
Posted by seumasach on February 19, 2009
John Browne
Asia Times
20th February, 2009
When the US Congress passed its US$787 billion stimulus package last week, the size of the plan caused many observers to forget the water that has already passed under the bridge. Fewer still are wondering what havoc will erupt when all this liquidity eventually washes ashore.
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Posted in Financial crisis | Tagged: bailout, financial collapse, stop the bailout | Leave a Comment »
In These New Times 