Where tax evaders go offshore nowadays Treasure Islands: Mapping the Geography of Corruption by Khadija Sharife at mrzine.monthlyreview.org
BP at what level do these crimes go unpunished?
Drilling in salt domes under the gulf of Mexico a mile down...can it be done safely...can you prove it can be done safely...do the risks far outweigh the oil gathered? - Why aren't these questions the ones being asked? Answer is that at this time there would be no drilling...the answeres being No, No and Yes. Instead the dialogues are elsewhere obscuring and irrelevant and the criminals escape punishment. ... So the Gulf of Mexico will rot, pricesless and therefore never paid for and BP and Britain and our own oil hungry America and its government will seem to escape without consequences for the perps...but Texas, Mississippi, Louisiana, Florida, perhaps the East Coast and the Carribean will suffer or be partly destroyed instead. (So we have the oil on hand to be able to attack Iran? which will of course justify emergency oil drilling...for a war like Iraq and the Afghanistan wars - which were are for oil and control of oil versus Russia and China where in the latter case our capitalists sent all our production jobs...and in the former case the deposed CEO of BP will be employed for Russian Oil interests of BP and Russia against the U.S.)(So I have to paranoidly wonder if Britain is not now a tool of the 'other great powers' against the United States, either by purposeful intent or the action of moles....?)
ever-wondered-how-you-know-you-are-depression-david-rosenberg-explains good one over at Zero-Hedge
40 Bizarre Statistics That Reveal The Horrifying Truth About The Collapse Of The U.S. Economy over at Activistpost.com. I hate articles that start 10 top, 13 worst, 40 most; still this one has some gem items if true such as
4 - In America today, the average time needed to find a job has risen to a record 35.2 weeks.
fed-says-will-test-liquidity-extracting-reverse-repos-including-mbs
yes, the initial experiments went so very well (not) we are bringing this out again to show we have the tools to suck up all that inflationary cash we printed (which no one has seen a sign of yet) to be able to control the inflation 'everyone'(everyone who has no clue whatsoever about economics) fears follows our cash printing, demonstrating once again, a focus on the irrelevant dangerously skewed to the side of reality -off target...the hyperinflation following a deflation has nothing to do with the cash you printed stupid....it has to do with money chasing fewer and fewer items to purchase...(God help us all!)
03 August 2010
Forgotten Fed Mission - maintain reasonable level of employment
http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm
the Bernanke Speech re deflation..not here has many interesting technical points..recommend a look. It also displays how the fed is off mission regarding benefitting society...price stability is the primary concern it seems and all else is other - which includes maintaining a reasonable level of employment. Directing almost all bailout money to banks which have kept the money as excess reserves has done nothing for money supply and velocity of money. A clue is this quote, " Deflation per se occurs only when price declines are so widespread that broad-based indexes of prices, such as the consumer price index, register ongoing declines." You see here that reality for these economists is at least once removed from the actual economy where people need to work to spend money to increase "aggregate demand" and to live; but the talk, mathematical, methodological, theoretical never descends to the underlying reality of the economy where unprecedented numbers of workers are unemployed, underemployed, part-timed or just statistically forgotten. The reality for Bernank is price indices. If the thinking doesn't even touch the reality, these guys should not be in any position to "run" anything that affects reality; they are failing and will fail since they are functioning in an unrelated delusional-theory-world unrelated to the actuality that is transpiring. While they fiddle with their shit ideas and ignore their assigned mission which is far broader than price stability, America smolders slowly to the ground. Perhaps the American economic engine will pull us out of this one; it will be in spite of the Fed and Bernanke and Obama and BP and it will be a shame that if it does pull out, an after effect will be falsely validating the actions of imbeciles which in any terms are amounting to crimes against the people.
The reason employment at reasonable levels is important is that without employment at reasonable levels demand suffers most; there is little reason for employers to hire once this stage is reached -- this is worse than the housing price deflation which was really an asset/credit deflation which could have been fixed by marking the losses to market and closing all the banks or the divisions that made bad credit decisions instead of giving money to the very institutions that screwed up, at tax payer expense with no benefit ultimately for anyone-- including the bailed banks which too will fail in a deflated economy.
All the tools the fed has are useless if they are not directed towards increasing employment...this is where the tools fall short since they are market manipulative tools and not tools to redistribute money. Arbitrarily low rates in the name of inflation control constrict all capitalist action which ultimately seeks yields. The Fed is now the liquidity trap and should be abandoned or taken under control of the government --a new government that has a clue.
the Bernanke Speech re deflation..not here has many interesting technical points..recommend a look. It also displays how the fed is off mission regarding benefitting society...price stability is the primary concern it seems and all else is other - which includes maintaining a reasonable level of employment. Directing almost all bailout money to banks which have kept the money as excess reserves has done nothing for money supply and velocity of money. A clue is this quote, " Deflation per se occurs only when price declines are so widespread that broad-based indexes of prices, such as the consumer price index, register ongoing declines." You see here that reality for these economists is at least once removed from the actual economy where people need to work to spend money to increase "aggregate demand" and to live; but the talk, mathematical, methodological, theoretical never descends to the underlying reality of the economy where unprecedented numbers of workers are unemployed, underemployed, part-timed or just statistically forgotten. The reality for Bernank is price indices. If the thinking doesn't even touch the reality, these guys should not be in any position to "run" anything that affects reality; they are failing and will fail since they are functioning in an unrelated delusional-theory-world unrelated to the actuality that is transpiring. While they fiddle with their shit ideas and ignore their assigned mission which is far broader than price stability, America smolders slowly to the ground. Perhaps the American economic engine will pull us out of this one; it will be in spite of the Fed and Bernanke and Obama and BP and it will be a shame that if it does pull out, an after effect will be falsely validating the actions of imbeciles which in any terms are amounting to crimes against the people.
The reason employment at reasonable levels is important is that without employment at reasonable levels demand suffers most; there is little reason for employers to hire once this stage is reached -- this is worse than the housing price deflation which was really an asset/credit deflation which could have been fixed by marking the losses to market and closing all the banks or the divisions that made bad credit decisions instead of giving money to the very institutions that screwed up, at tax payer expense with no benefit ultimately for anyone-- including the bailed banks which too will fail in a deflated economy.
All the tools the fed has are useless if they are not directed towards increasing employment...this is where the tools fall short since they are market manipulative tools and not tools to redistribute money. Arbitrarily low rates in the name of inflation control constrict all capitalist action which ultimately seeks yields. The Fed is now the liquidity trap and should be abandoned or taken under control of the government --a new government that has a clue.
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