With the implementation of the "Volker Rule" on deck, will we actually see any meaningful reform actually implemented or will the corruption of money in politics once again dictate the course of events. What are the consequences in either case? (an open question).
Reuters article Sunday, December 2, 2012, Headlined this story -
Those who operate in the grey areas of "criminally/legal" or "legally/criminal" activities never change their ways.
“Europe and America will not allow deflation to take root” - Interview with Ambrose Evans Pritchard by Gold SwitzerlandSubmitted by Eisenhower on Wed, 12/05/2012 - 18:05
The title of this article seems almost absurdly obvious to those who have knowledge of the underlying hierarchy of the financial order.
The article might otherwise be entitled "Europe and America are on an inevitable path to hyper-inflation, but that is another perspective. I find the thoughts, data and perspective presented here to be clearly outside the domain of the mainstream and yet fully credible. And thus they belong here at the Duffminster Times.
Recent Actions in Gold and Silver in context with the Fiscal Cliff, Permanently Removing the Debt Ceiling, QE4 and so on.Submitted by Eisenhower on Tue, 12/04/2012 - 20:19
What seems evident is that until a broader interest of long term economic stability is pursued in earnest with a high degree of cooperation and a whole lot less greed and bias towards certain financial interests, we will not see a return to any balanced interest rates. This is primarily because the sovereign debt has grown so large with the Fed being the primary buyer of most US debt, that any increase in interest rates of any substantial nature, say to 5% or so, would result in such a huge debt service invoice that the US government would simply have to shut down or default on its debt.
"...In the third quarter of this year, “corporate earnings were $1.75 trillion, up 18.6% from a year ago.” Corporations are currently making more as a percentage of the economy than they ever have since such records were kept. But at the same time, wages as a percentage of the economy are at an all-time low, ...
Intriguing article to counter the spin of the mainstream on the housing markets:
Actually, the story was posted at 3:52 PM on CNBC. Senator Harry Reid stepped up to the mike and announced the Republicans are interested in "happy talk" but sidestepped getting down to specifics.
Lets see. This isn't rocket science. But the special interests and influence of big money in politics keeps otherwise noble politicians from employing their brains to do what is right for the people of this nation. If average posters like me can find a solution where the math adds up, you'd think these shills for the lobbies who call themselves "representatives" could come up with something. Problem is, "they are shills for the lobbies," and actually could care less about average American families.
Warren Buffet has a op-ed proposal in the NT Times today.
A Clearly Emotional Reaction to Bernanke's Latest Speech at the Economics Club in NYCity. - 11-20-2012Submitted by Old and Gray on Wed, 11/21/2012 - 19:40
Ben Bernanke appeared again after a period outside the spotlight to comment on the recovery.
Reuters' headlines today are full of the kind of news that kills Hope.
A blogger's report on a Volcker address delivered earlier this year. . . Additional Thoughts Attached 11-18-12Submitted by Old and Gray on Sat, 11/17/2012 - 17:23
Thursday, November 15, 2012
Busy day, so another quick one. This is Paul Volcker:
Resource extraction, bribes and whistleblowers; Dodd-Frank Act, the OECD convention and the US Supreme Court.Submitted by Old and Gray on Thu, 11/15/2012 - 22:42
November, 1997, the OECD (Organization for Economic Cooperation and Development) released a document drawn up by an international group addressing the issue of "Bribery of Foreign Public Officials in International Business Transactions".
November 14, 2012: Issue of the day - Market Performance, The Fiscal Cliff, and "Break Up the Banks"Submitted by Old and Gray on Wed, 11/14/2012 - 17:21
According to some opinions, the "fiscal Cliff" issue has graduated from a political football to a case of unstable nitroglycerin, ready to blow up the economy.
The problem with Greece grows and spreads as the underlying weaknesses become obvious.
How long will it take to reorganize? And, what are the important issues?
Amazing what one discovers when probing into the deep recesses of book shelves!
In scanning today's headlines, one more choice indicator not too easily ferreted out from personal motivation, lights or dims our path to the future:
Vote for Romney or the wealthy 1% will sink the nation!
The three presidential election debates are behind us. We’ve had an opportunity to witness the character of the two candidates and their positions.
Though not in "1987 recap" mode, Reuters still notes the current attitude of the players.
The blog sites turn to poor earnings, pick up in housing sales, the presidential elections and the fiscal cliff of January 1, 2013 to explain market fluctuations today, another list of excuses.
Paul Krugman's style is direct and relentless.
Exercise in logic:
(1) At 10 AM, Reuters runs these lead stories:
The New CFPB (Consumer Financial Protection Bureau), created by the Dodd-Frank Act of 2010 at work
CNBC reports that by the year 2020, consumers in China and India combined will be contributing purchasing power to the amount of $10 trillion dollars to international trade.
CNBC.com is running an article which creates the impression that the Fed is footing the bill for the Entire US deficit. Not likely,
Christine LaGarde delivered a speech at the Peterson Institute in Washington Monday in which she attempted to deliver a "few words on the status of the global economy". Those few words amounted to a loosely presented impression that we are on the right path to recovery.
This man is a candidate for the US Presidency?