Even the world’s most resource-rich country has now been caught in the debt trap. Its once-proud government programs are being subjected to radical budget cuts—cuts that could have been avoided if the government had not quit borrowing from its own central bank in the 1970s.
The Kiwibank & Japanese Model: Postal Banks to Serve Local Communities
Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it; and so does the United States. If the USPS added banking, it could use its own bank-generated credit to help relieve its debt problems. According to German researcher Margrit Kennedy, interest composes on average about 40% of the cost of all goods and services. That suggests that eliminating interest could reduce the USPS debt by about 40%.
Standard & Poor's Ratings Services has downgraded Greece’s sovereign credit rating to 'selective default' in response to the country’s decision to involve the private sector in its comprehensive debt restructuring.
The workers at the Kilkis Hospital and at most of the hospitals and health centers in Greece are not paid on time and some of them see their salaries being cut down to practically zero. A fellow-worker of mine was transferred to our cardiologic clinic in shock, when he realized that instead of receiving the usual check of 800 euros (yes; that is his monthly salary) from the state, he received a note saying that not only he will be paid nothing for this month, but he is also to return 170 euros. Other workers were paid only 9 (nine) euros for this month.
The Romanian government of Prime Minister Emil Boc resigned today (6 February), following more than 20 days of protests over austerity measures and the economic downturn in the EU newcomer.
Emil Boc said he took the decision in order "to defuse the social tension" and to protect the economic stability of the country, according to Romanian media. Boc, who is the leader of the Democratic Liberal Party (PDL) of President Traian Basescu, has been prime minister since 2008.
This week, the warlords of the West took yet another step toward their long-desired war againt Iran. (Open war, that is; their covert war has been going on for decades -- via subversion, terrorism, and proxies like Saddam Hussein.) On Monday, the European Union obediently followed the dictates of its Washington masters by agreeing to impose an embargo on Iranian oil.
The mumbo jumbo of corporate economists is nothing more than jive by paid shills to defend an indefensible system. Use common sense:
Remember, the budgets of government were paid without an income tax under this system of tariffs. The notion that America is best served when multinational ‘stateless’ corporations are allowed to leave our shores and dump their foreign built products back upon the society that developed, financed and provided a ready market, is insane.
Yesterday Zero Hedge ran a story that most people will never see or really understand. Zero Hedge reported that the Russians have sold off half of their US Treasury bonds over the past year. China has been dumping their dollar holdings too but still have over a trillion dollars left. Other foreigners have been dumping their dollars too. The current US inflation rate is 12%. Ben Bernanke has been creating trillions of dollars to bail out banks in Europe, to buy worthless securities from US banks and to fund the US debt. That will accelerate inflation. Inflation will go from 12% to 15% and then 20% in less than a year. The media will no longer be able to repeat the lie that the inflation rate is only 3 1/2%. Inflation will become an issue in the 2012 races for congress, Senate and the presidency.
We've all seen how the Zionist Conservatives (Moderaterna) have sold out virtually everything they could of municipal and county municipal operations. But the question is whether Filippa Reinfeldt has gone too far in her quest to practically give away the kitchen sink (by selling government busineses)!!
Two former CIA analysts have advised US President Barack Obama to immediately put an end to the “torrent of war propaganda against Iran” as this will lead to the destruction of Israel and devastation of world economy.
Ray McGovern and Elizabeth Murray wrote on the consortiumnews.com that Obama's “repeated use of the bromide that 'everything is on the table'” indicates that the US president does not fully recognize the consequences of a military confrontation with Iran.
An advisor to President Sarkozy is reported to have said the British veto of a new EU treaty is welcome because it will allow the other states to move more quickly.
It comes as Britain’s veto means that instead of a treaty binding across the EU, the other 26 states will work one out without involving the UK. The aim is to create rules further harmonising tax and economic policies to rebuild confidence in the euro.
The EU has failed to raise 200 billion euros to fund an IMF rescue loan for its indebted members. The sum was promised at a summit of EU leaders 10 days ago, and the fact that it has not materialized signals further rifts within the 27-member bloc.
The package European Union finance ministers have come up with is 50 billion euros short of what is deemed necessary to help debt-stricken nations avoid default.
Dollar for dollar, military products are there as insurance and to the extent you could put those dollars into other areas, maybe education and job training, maybe into transportation, that is going to have a good economic effect.
When Bilderberg Man Mario Monti promoted himself to regent of Italy almost three weeks ago, the air was thick with Valkyries warning that should the great witch doctor fail to square the books pretty damn quick, then not only would Italy go down the chute but she would take with her the euro and the entire apparatus of the European Union.
If you aren't in the .1%, you have no access to the derivatives markets, special deals that hedge funds and other wealthy investors get, resources, information, strategic services, tax exemptions, and capital that the top .1% is gets.
Fitts urged us to accept this fact: There are worse things than being killed by the criminals who have stolen your government and your money. She suggests basic reforms. One, government would release all expenditures by zip code. Two, prevent defense contractors from forming subsidiaries that pay and audit contracts. Centralizing power in the hands of the elite is deadly.
The dominoes are trembling. The politicians are dissembling. The bankers are coalescing. The people are emerging. The waters are surging. The impacted colon of a dense material culture is rumbling from the dietary obscenities of epidemic obesity and the double wide, sloth-mind of the TV watching potato heads are going to need two airline seats to fly out of something they have no intention of leaving.
This site may contain copyrighted material, the use of which has not always been specifically authorised by the owner of the copyrighted work. We are making such material available in order to advance understanding of a range of issues, including but not limited to the environment, politics, human rights, economics, scientific research and social justice. As such, we believe this usage constitutes 'fair use' provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, any material on this site is distributed without profit to those who have expressed a prior interest in receiving this information for research and educational purposes.