asterisk2a + bail   37

Keiser Report: Gold & World’s Debt Problems (Summer Solutions series E940) - YouTube
deflationary trap/liquidity trap - orthodox monetary policy w austerity = stagnation. & west is exporting deflation. // if it is good for consumers ... break up banks. // hedging is BS ... you double the system you double the risk. [...] banks are now bigger! ... ban most derivatives, and reintroduce glass stegall // Black-Schoeles - there is no such think as risk free rate and no such thing as the past reflect the future. risk is not equally distributed. [...] VAR is flawed. //
deflation  deflationary  NIRP  currency  war  currency  debasement  ZIRP  QE  Helicopter  Money  secular  stagnation  western  world  Abenomics  BOE  BOJ  Fed  ECB  economic  history  Richard  Koo  liquidity  trap  debt  overhang  balance  sheet  recession  consumer  debt  household  debt  mortgage  mortgage  market  mortgage  rates  distortion  hunt  for  yield  credit  boom  credit  bubble  PBOC  China  reflate  reflation  squeezed  middle  class  wage  growth  income  growth  income  distribution  income  disparity  working  poor  Precariat  Brexit  GFC  too  big  to  jail  productive  investment  underinvestment  austerity  history  productivity  gap  financial  instruments  investment  banking  global  economy  globalisation  globalization  derivatives  output  gap  productivity  recovery  neoliberal  neoliberalism  Chicago  School  neoclassical  economics  deregulation  Wall  Street  speculative  bubble  property  bubble  Beton  Gold  Betongold  stagnation  aggregate  demand  aggregate  demand  short-fall  too  big  to  bail  too  big  to  fail  TBTF  complexity  systemic  risk  systemrelevant  systemicrisk  systemrelevanz  zombie  bank  zombie  banks  non-performing  loan  leverage  hedge  Glass-Steagall  Black-Scholes  Equation 
july 2016 by asterisk2a
Bancopalypse 2.0 - Some Disturbing Figures From The Looming Financial Crisis | Zero Hedge
Well-capitalized banks are supposed to have double-digit capital levels while making low risk investments.

Deutsche Bank, on the other hand, has a capital level of less that 3% (just like Lehman), and an incredibly risky asset base that boasts notional derivatives exposure of more than $70 trillion, roughly the size of world GDP.

Even the IMF has stated unequivocally that Deutsche Bank poses the greatest risk to global financial stability.

And the IMF would be right… except for all the other banks.

Because, meanwhile in Italy, nearly the entire Italian banking system is rapidly sliding into insolvency.

Italian banks are sitting on over 360 billion euros in bad loans right now and are in desperate need of a massive bailout.

IMF calculations show that Italian banks’ capital levels are among the lowest in the world, just ahead of Bangladesh.
Deutsche  Bank  derivatives  financial  instruments  BaFin  BuBa  European  Bank  Supervision  Italy  Spain  stresstest  PIGS  zombie  zombie  banks  non-performing  loan  capital  reserves  ECB  MarioDraghi  sovereign  debt  crisis  economic  history  Wolfgang  Schäuble  Angela  Merkel  banking  union  systemic  risk  systemicrisk  systemrelevant  systemrelevanz  TBTF  toobigtofail  too  big  to  bail  too  big  to  fail 
july 2016 by asterisk2a
Investigating Deutsche Bank’s €21 Trillion Derivative Casino In Wake Of Admission It Rigged Gold And Silver
Deutsche Bank has over €515 billion in “positive derivative values” in comparison to €496 billion in “negative derivative values”.
Deutsche  Bank  investment  banking  derivatives  Financial  Stability  Board  European  Bank  Supervision  ECB  too  big  to  fail  too  big  to  bail  TBTF  OTC  Greed 
april 2016 by asterisk2a
The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns
At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States.” Why didn’t JPMorgan’s Board of Directors or its legions of lawyers catch this?

It’s important to parse the phrasing of that sentence. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.” [...] “…the default of a bank with a higher connectivity index would have a greater impact on the rest of the banking system because its shortfall would spill over onto other financial institutions, creating a cascade that could lead to further defaults. High leverage,
corporate  media  media  conglomerate  too  big  to  bail  too  big  to  fail  too  big  to  jail  TBTF  jpmorgan  jpmorganchase  USA  GFC  recovery  liquidity  trap  repo  liquidity  squeeze  economic  history  Financial  Stability  Board  FinancialCrisisInquiryCommission  crisis  crony  capitalism  Greed  shareholder  capitalism  profit  maximisation  profit  maximization  investment  banking  retail  banking  leverage  CDS  engineering  CDO  MBS  subprime  FDIC  complexity  Fed  Janet  Yellen  Wall  Street  reflate  reflation  derivatives  credit  bubble 
april 2016 by asterisk2a
Casino Jack and the United States of Money (2010)
Director: Alex Gibney / Writer: Alex Gibney //&! https://youtu.be/zY5UuWkVq8g //&! all the bad fish got away! only the shark got caught // party and campaign financiers; wall street: fossil fuel followed by the emergence of silicon valley firms. // congress does not serve american people. average citizen does not have a voice. ... congress need of money exploited, fighting each other with more and more money! getting a leg up on your opponent. who they get the money to be elected or re-elected? those who have already money! [...] public finance would end it!
USA  corruption  Greed  bribery  revolving  door  PAC  Super  PAC  presidential  election  2016  shareholder  capitalism  profit  maximisation  profit  maximization  exploitation  Washington  Lobbying  lobby  lobbyist  Career  Politicians  Jack  Abramoff  campaign  donation  campaign  finance  Party  Funding  constituency  trust  Wall  Street  shareholder  value  global  warming  environmental  damage  self-regulation  regulation  regulators  ecological  damage  GFC  Enron  Worldcom  bank  bailout  TBTF  too  big  to  fail  too  big  to  bail  too  big  to  jail  conglomerate  multinational  tax  evasion  tax  amnesty  tax  avoidance  money  laundering  influence  peddling  Special  Interest  Group  groups  vested  Fossil  fuel  industry  Silicon  Valley  subprime  No  Representation  post-racial  America  American  Dream  plutocracy  oligarchy  Super  Rich  1%  democracy  meritocracy  meritocratic  Gini  coefficient 
april 2016 by asterisk2a
Money: The Too Big to Fail Edition by Panoply Media
Neil Irwin, author of The Alchemists: Three Central Bankers and a World on Fire, joins hosts Felix Salmon of Fusion, Cathy O’Neil of mathbabe.org, and Slate’s Moneybox columnist Jordan Weissmann. This week is all about Neel Kashkari of the Minneapolis Fed's new solution for our too-big-to-fail banks. //!& breaking up has complexity ... financial-industrial complex! //
too  big  to  bail  toobigtofail  TBTF  retail  banking  investment  banking  VAR  discounted  risk  systemicrisk  discounting  risk  BIS  centralbanks  liquidity  trap  GFC  financial  product  recovery  TARP  UK  USA  Europe  sovereign  debt  crisis  PIGS  economic  history  book  monopsony  oligopoly  oligopol  repo  interbank  lending  complexity  financial-industrial  complex  leverage  derivatives 
march 2016 by asterisk2a
Why Hillary Clinton’s ‘super-predator’ concession is such a big moment for political protest - The Washington Post
Clinton’s 1996 speech included some language about these so-called super-predators implying that they were a generation of guilt- and compassion-free sociopaths who, in the interest of society, simply had to be contained. [...] Clinton seemed audibly and visibly irritated, saying she would answer if allowed to speak and then, even more notably, “that no one had ever asked her that before.” Then, Clinton essentially moved on with her regularly scheduled fundraising program. There was no accounting, partial or full, for her 1996 position nor how she arrived at her 2016 stance on criminal justice reform. Moving on. [...] Clinton decided to offer an apology for using that “super-predator” and “brought to heel” language. In the 1990s both were part of a relatively popular but now largely discredited theory about rising youth crime. [ tough on crime was] effective tactic with white voters, because in the [US] there are a whole host of persistent stereotypes abt race & criminality.
Hillary  Clinton  prison–industrial  complex  mandatory  minimum  sentences  War  on  Drugs  Beschaffungskriminalität  economic  justice  System  Bail  racial  profiling  post-racial  America  racial  discrimination  meritocracy  meritocratic  American  Dream  Career  Politicians  No  Representation  social  democracy  plutocracy  oligarchy  Super  Rich  1%  Integrationspolitik  Sozialpolitik  downward  mobility  social  mobility  income  mobility  youth  crime  youth  unemployment  deprivation  Perspektivlosigkeit  trickle-down  economics  USA  neoliberalism  neoliberal  social  safety  net  welfare  state  recidivism  rate  Rehabilitation  presidential  election  2016  double  standard  stereotype  bias  prejudice  crime  white-collar  crime  public  sentiment  public  perception  public  opinion  Bill  Clinton  presidency  barackobama  judgement  snap  judgement  injustice  MLK  child  poverty  poverty  trap  food  poverty  mental  health 
february 2016 by asterisk2a
Vickers warns over weaker bank safety buffers - BBC News
[ no skin in the game ] The man charged with leading an inquiry into the future safety of Britain's banks has said Bank of England plans are not strong enough. Sir John Vickers, who led the Independent Commission on Banking (ICB) said: "The Bank of England proposal is less strong than what the ICB recommended." In a BBC interview, he added "I don't think the ICB overdid it." The Bank of England declined to comment. Specifically, it is the plans to make sure that banks have enough capital that Sir John has questioned. Capital is considered vital to a bank's safety, as it serves to protect it from sudden losses. It comes in many forms, but the most common is funding from shareholders, who expect a hefty return on the risk they are taking. The backdrop to this news is the current slump in bank share prices across Europe. Since the start of the year, European banking stocks have lost a quarter of their value. //&! bit.ly/1Xs0Bac
zombie  banks  retail  banking  investment  banking  toobigtofail  too  big  to  jail  TBTF  too  big  to  bail  economic  history  lobbyist  lobby  Lobbying  GFC  speculation  CDS  CDO  derivatives  Interestrateswap  financial  product  VAR  risk-management  risk  management  Greed  bonuses  bonus  financial  crisis  blackswan  Black  Swan  Career  Politicians  No  Representation  democracy  Super  Rich  1%  plutocracy  oligarchy  Wall  Street  shareholder  value  profit  maximisation  short-termism  self-regulation  regulation  deregulation  regulators  Glass-Steagall  BOE  ECB  Bundesbank  sovereign  debt  crisis  Fed 
february 2016 by asterisk2a
Little people brace for yet another hit as banks off hook - Independent.ie
Remember the Banking Inquiry? The big game changer that was set to sort out Irish bankers once and for all. It was destined to uproot the diseased banking culture. Ireland's little people would never again be bullied. A general election was even postponed to accommodate it.
Ireland  too  big  to  bail  too  big  to  jail  bank  bailout  GFC  economic  history  Career  Politicians  No  Representation  TBTF  toobigtofail  European  Union  zombie  banks  sovereign  debt  crisis  ECB 
november 2015 by asterisk2a
Blackrock-Vize Hildebrand kritisiert europäische Behörden - SPIEGEL ONLINE
Hildebrand: Nein, dafür sehe ich keine Anzeichen. Aber was mich schon besorgt, ist das Muster, dass frappantes Fehlverhalten europäischer Firmen immer wieder von amerikanischen Behörden aufgedeckt wird. Das scheint mir das wahre Problem zu sein. Ich denke da nicht nur an VW, sondern auch an die Banken oder an die Fifa. [...] Die Amerikaner dagegen sind das Problem schon 2009 angegangen, und die Banken sind schnell wieder gesundet. In Europa hat man es unter den Teppich gekehrt. [...] Europa hat zwei Probleme, und ein wesentliches davon ist ein Nachfrageproblem: Die Wirtschaft ist nicht ausgelastet, auch die Arbeitslosigkeit ist nach wie vor zu hoch. Und die Inflation liegt nahe null. [...] Europa hat auch ein Strukturproblem. Arbeits- und Produktmärkte sind überreguliert. [ Re Credit Bubble ] Niemand weiß genau, was geschieht, wenn diese Politik einmal umgekehrt wird.
VW  bank  bailout  FIFA  corporate  scandal  Volkswagen  sovereign  debt  crisis  too  big  to  bail  Grexit  European  Union  secular  stagnation  self-regulation  regulation  regulators  deregulation  accountability  white-collar  crime  banking  investment  banking  retail  banking  recovery  MarioDraghi  ECB  NIRP  ZIRP  TLTRO  LTRO  QE  GFC  economic  history  debtoverhang  Richard  Koo  fiscal  monetary  Brussels  lost  decade  lostgeneration  lost  generation  Generationengerechtigkeit  austerity  Pact  Schuldenbremse  underinvestment  productive  investment  ageing  population  demographic  bubble  squeezed  middle  class  emerging  middle  class  discretionary  spending  Sozialer  Abstieg  income  distribution  disposable  income  Brexit  credit  bubble  BRIC  emerging  market  Developing  World  western  Niall  Ferguson 
november 2015 by asterisk2a
Europäische Union: Schengen versagt wie der Euro - Kolumne - SPIEGEL ONLINE
[ managing the status quo ] Der Euro wackelt nach wie vor, das Schengen-System der offenen Grenzen ist de facto gescheitert. Beide europäischen Konstruktionen scheitern am selben Problem: Die EU konnte sich nur auf den kleinsten gemeinsamen Nenner einigen.
Leadership  Angela  Merkel  Wolfgang  Schäuble  Germany  European  Union  Career  Politicians  No  Representation  Jean-Claude  Juncker  GFC  Grexit  Brexit  Euro  bank  bailout  TBTF  too  big  to  bail  too  big  to  jail  sovereign  debt  crisis  Fiscal  Pact  Schuldenbremse  banking  crisis  economic  history  Brussels  accountability 
november 2015 by asterisk2a
Robert Reich - Timeline Photos
What about all the ballyhoo about manufacturing jobs coming back to America? Well, some have. But they pay lousy wages. The average wages of production and non-supervisory employees in manufacturing are lower today than they were in 1985, when adjusted for inflation. [...] Bottom line: Most Americans have got zilch out of this recovery. In fact, they’re worse off now than they were in 2000. Meanwhile, the top 0.1 percent is doing fabulously well. More and more people are concluding the game is rigged -- which it is. No one should be surprised at the surge in populist anger on the left and the right.
USA  job  creation  recovery  industrial  policy  wage  growth  wage  stagnation  UK  western  society  western  world  secular  stagnation  squeezed  middle  class  Sozialer  Abstieg  income  growth  economic  growth  disposable  income  income  distribution  income  mobility  income  inequality  income  redistribution  social  mobility  Gini  coefficient  Super  Rich  1%  discretionary  spending  zombie  consumer  credit  card  debt  credit  card  car  loan  2015  GFC  reflate  reflation  globalization  globalisation  flat  world  borderless  competitive  competitiveness  competition  low  pay  low  income  labour  market  labour  economics  Service  Sector  Jobs  Niedriglohn  Niedriglohnsektor  precarious  work  Precariat  working  poor  Joseph  Stiglitz  Robert  Reich  poverty  child  poverty  food  poverty  poverty  trap  generationy  babyboomers  participation  rate  manual  labour  Millennials  retirement  mainstreet  Wall  Street  profit  maximisation  shareholder  value  tax  evasion  tax  avoidance  capital  gains  tax  corporate  tax  rate  dogma  ideology  neoliberalism  neoliberal  republicans  democrats  public  awareness  public  perception  American  Dream  post-racial  America  economic  justice  fairness  bank  bailout  TBTF  too  big  to  jail  too  big  to  bail  Generationengerechtigkeit  budget  deficit  austerity  populism  corporate  corporate  r 
october 2015 by asterisk2a
Isn't Your Body More Important Than Your Home? - YouTube
'general welfare', 'collective good' //&! youtu.be/7oXPWWDgaoo - The Myths & Lies Exposed in the GOP Debate - Carly Fiorina: Crony Capitalism = Big Goverment supporting tbtf/tbtj corporations? << POSITIONING. Blaming it on Big Government, that corporations feel they need to get bigger. LOL &! RT is not only one calling out Carly Fiorina - http://crooksandliars.com/2015/10/cnn-confronts-carly-fiorina-her-factless
Privatisation  Public  Good  Public  Services  Social  Services  neoliberalism  neoliberal  Public  Health  Care  Medicaid  sick  leave  sick  day  safety  net  homeless  homelessness  welfare  state  corporate  welfare  low  pay  low  income  shared  economic  interest  interest  Police  NHS  UK  USA  dogma  ideology  Wall  Street  racketeer  profiteer  republican  republicans  presidential  election  2016  Medicare  Privileged  Establishment  Toff  Entitlement  Super  Rich  1%  Gini  coefficient  American  Dream  squeezed  middle  class  Sozialer  Abstieg  job  security  Precariat  precarious  work  wage  stagnation  tax  credit  income  growth  income  distribution  capital  gains  tax  profit  maximisation  shareholder  value  ethics  morality  Bernie  Sanders  secular  stagnation  Niall  Ferguson  inequality  income  inequality  inequality  wage  growth  economic  growth  austerity  white-collar  crime  GFC  recovery  reflate  reflation  babyboomers  Generationengerechtigkeit  bank  bailout  TBTF  too  big  to  bail  too  big  to  jail  lobbyist  lobby  Lobbying  revolving  door  Career  Politicians  No  Representation  contract  Millennials  generationy  Carly  Fiorina  reframing  framing  Positioning  PR  spin  doctor  crony  capitalism  capitalism  oligarchy  plutocracy  Social 
october 2015 by asterisk2a
Europe is becoming an undemocratic continent where force matters more than law | Comment is free | The Guardian
Only banks, global corporations and the superrich have any power against this faceless semi-superstate [...] In the past year, on two occasions when tested, European solidarity fell apart. [...] The real power, meanwhile, sits with large corporations, banks and elites. And here’s the strangest thing: for all the power concentrated at the top, the EU lacks the will to operate purposefully in the multipolar global power system. We know, roughly, what the US wants. Ditto for China and Russia. Ask what Europe wants – in Ukraine, Syria or the Arctic circle – and you’ll draw a blank. In a multipolar world, whose chaos zones are expanding, effective states with clear diplomatic aims and red lines matter.
democracy  Career  Politicians  bank  bailout  banking  crisis  lobbyist  lobby  Lobbying  tax  evasion  tax  avoidance  crony  capitalism  capitalism  Wall  Street  shareholder  value  shared  economic  interest  profit  maximisation  Brussels  Rechtsruck  symptom  No  Representation  social  contract  fairness  morality  Generationengerechtigkeit  austerity  Fiscal  Pact  Schuldenbremse  solidarity  TBTF  too  big  to  jail  too  big  to  bail  conglomerate  corporate  scandal  corporate  media  corporate  state  injustice  justice  white-collar  crime  Brexit  sovereign  debt  crisis  refugee  crisis  Super  Rich  1%  Gini  coefficient  inequality  poverty  G  Zero  economic  history  monetary  union  European  trickle-down  economics  dogma  ideology  Privatisation  neoliberalism  neoliberal  neoconservatism  neoconservatives  USA  UK  Europe  vested  interest  interest  groups 
october 2015 by asterisk2a
The new European Union | Credit Writedowns
[ EU banking system was too big to bail in case Greece and else would default even in parts on some of its debt and or make no or delay repayment with interest in full ] In conclusion, the conditions asked of Greece are not likely to be met, because they cannot be met. Greece will be blamed for not living up to its commitments, as it has been this time around. Yet, somehow, the notion of asking for the impossible from a country that has no choice but to sign is fundamentally perverse. [...] The mistake was to break the no-bailout clause that was designed to make sure the Eurozone would not find itself in this position. For selfish reasons (i.e. preventing a bank crisis in Europe and the US), Greece was convinced to accept the first bailout in 2010.
Greece  bank  bailout  banking  crisis  bank  crisis  investment  banking  retail  banking  TBTF  too  big  to  jail  too  big  to  bail  European  Union  Positioning  ECB  Career  Politicians  lobbyist  lobby  Lobbying  crony  capitalism  corporate  scandal  austerity  accounting  scandal  bailout  bail-in  Cyprus  of  Cyprus  deposit  haircut  deposit  levy  fairness  Generationengerechtigkeit  Wall  Street  profit  maximisation  shareholder  value  economic  history  fiscal  policy  monetary  policy  Basel3  banking  fractional  reserve  banking  EuropeanSystemicRiskBoard  GFC  recovery  Debt  Super  Cycle  Privatisation  ideology  dogma  PIIGSFB  PIGS  PIIGS  France  Germany  Bundesbank  trichet  Jens  Weidmann  Angela  Merkel  Peer  Steinbrück  corruption  blackmail  josefackermann  ackermann  Deutsche  subsidies  subsidizing  Mark  Blyth  social  contract  social  tension  social  cohesion  constituency  Nationalizing  badbank  badbanks  restructuring  monetary 
october 2015 by asterisk2a
BBC One - Panorama, Tough Justice in Britain - Texas Style
As the UK's imprisonment rate remains the highest in western Europe, Panorama joins Michael Gove - the man in charge of British prisons - on a fact-finding mission in Texas. 'Hang 'em high' Texas is not the first place you might look for lessons in criminal justice - they execute more people and lock up more offenders than anywhere else in America. But now this conservative state is the unlikely centre of a rehabilitation-led revolution in prison reform that's sweeping through the US. Crime is down, prisoner numbers have fallen and, on top of this, they have cut costs. Are there valuable lessons to be learned here, and are UK politicians really ready to dole out some Texan justice?
UK  prison–industrial  complex  USA  poverty  trap  social  mobility  American  Dream  Jim  Crow  post-racial  America  Gini  coefficient  income  mobility  inequality  Beschaffungskriminalität  War  on  Drugs  Prostitution  addiction  substance  abuse  Rehabilitation  austerity  Wall  Street  profit  maximisation  shareholder  value  Public  Services  Services  discrimination  mandatory  minimum  sentences  desperation  Perspektivlosigkeit  Perspective  injustice  Justice  System  Law  &  Justice  white-collar  crime  racism  racial  discrimination  racial  profiling  Stop  and  Search  Policy  Makers  Gesellschaft  Zivilgesellschaft  Zivilcourage  civil  courage  civil  society  society  stigma  mental  health  mental  illness  alcohol  abuse  childhood  childhood  development  criminal  Bail  incarceration  rate  recidivism  rate  reoffending  rate 
october 2015 by asterisk2a
Ben Bernanke urges punishment of individual bankers - BBC News
>> Privatisation where and when it is needed. No, only if it suits their ideology and agenda. // regulatory failure. - youtu.be/Yx1P5Wz2iX4 - Ben Bernanke, John Mack Reflect on 2008 Financial Crisis >> NINJA Loan, homeownership, subprime, ... //&! Ben Bernanke on Lehman Crisis: "We Agreed to Be Vague" (Oct. 6, 2015) | Charlie Rose - youtu.be/EYGbtxzIkvw - 'lehman brothers was a sink hole. money put in from gov in a saving attempt would have resulted in being pulled out by its counterparties and creditors. and had not enough collateral and assets.'
too  big  to  jail  regulators  morality  Justice  System  injustice  Law  &  Justice  white-collar  crime  corporate  scandal  accounting  scandal  mis-selling  CDO  CDS  Interestrateswap  benbernanke  book  TBTF  too  big  to  bail  GFC  trickle-down  economics  economic  history  Super  Rich  1%  bank  bailout  banking  crisis  investment  banking  bank  crisis  retail  banking  CEO  pay  CEO  Abacus  subprime  car  loan  NINJA  fairness  Generationengerechtigkeit  austerity  budget  deficit  Student  Bubble  Wall  Street  profit  maximisation  shareholder  value  free  market  Privatisation  MervynKing  George  Osborne  David  Cameron  self-regulation  regulation  deregulation  Career  Politicians  No  Representation  revolving  door  inequality  Gini  coefficient  income  distribution  oligarchy  democracy  social  contract  political  theory  timgeithner  UK  USA  ideology  dogma  lehmanbrothers 
october 2015 by asterisk2a
Facebook paid £4,327 corporation tax in 2014 - BBC News
The latest revelations will reignite the debate about how much UK corporation tax companies pay at a time when several multinational corporations are being investigated by the European Commission over the tax arrangements they have with European Union member states. Google, Amazon, a division of the Fiat motor company and Starbucks are all subject to the investigation and the European Commission has said it could widen its probe further. The investigation came after Starbucks was revealed to have paid just £8.6m in UK corporation tax in the 14 years between 1998 and 2012, despite making more than £3bn in UK sales in the same period. Last week, EU finance ministers agreed to boost information sharing in response to the so-called LuxLeaks scandal that emerged last year. The scandal showed Luxembourg had issued hundreds of tax rulings allowing companies to lower their tax bill by funnelling their profits through the country. //&! bbc.in/1LJG6DY &! bit.ly/1R7PjEf
tax  evasion  tax  avoidance  Wall  Street  shared  economic  interest  profit  maximisation  shareholder  value  Super  Rich  1%  UK  USA  European  Union  Niall  Ferguson  secular  stagnation  budget  deficit  infrastructure  mainstreet.org  oligarchy  monopoly  monopsony  revolving  door  lobbyist  lobby  Lobbying  Career  Politicians  No  Representation  Generationengerechtigkeit  fairness  austerity  crony  capitalism  TBTF  too  big  to  jail  too  big  to  bail  capitalism  exploitation  neoliberalism  neoliberal  neoconservatism  neoconservatives  corporate  scandal  accounting  scandal 
october 2015 by asterisk2a
How The Socialist Surge is Growing - YouTube
via Robert Reich on.fb.me/1Pn6XFK - According to a New York Times investigation reported this morning, just 358 families and the businesses they control have contributed over half the money to the 2016 presidential election so far – mostly to Republicans who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink Social Security and Medicare. On the other hand, two-thirds of Americans support higher taxes on those earning $1 million or more a year, according to a June New York Times/CBS News poll, and six in 10 favor more government intervention to reduce the gap between the rich and the poor. And according to the Pew Research Center, nearly seven in 10 favor preserving Social Security and Medicare benefits as they are. To an extent we haven’t seen since the Gilded Age of the 1890s, the upcoming election is between a tiny group of super-rich and the rest of us. We must do everything possible to reclaim our democracy.
lefty  Bernie  Sanders  Jeremy  Corbyn  USA  UK  European  Union  neoliberalism  neoliberal  crony  capitalism  bank  bailout  banking  crisis  squeezed  middle  class  injustice  justice  morality  TBTF  too  big  to  jail  too  big  to  bail  white-collar  crime  corporate  scandal  accounting  scandal  Wall  Street  profit  maximisation  shareholder  value  lobbyist  Lobbying  lobby  No  Representation  Career  Politicians  austerity  Generationengerechtigkeit  fairness  neoconservatism  neoconservatives  progressive  wage  stagnation  secular  stagnation  income  growth  income  distribution  income  inequality  income  mobility  social  mobility  low  income  income  redistribution  capital  gains  capital  gains  tax  tax  code  capitalism  post-capitalism  GFC  Super  Rich  1%  Gini  coefficient  post  code  lottery  NHS  Privatisation  tax  evasion  tax  avoidance  TINA  Alternativlos  Wolfgang  Schäuble  Angela  Merkel  character  barackobama  georgewbush  gwbush  presidency  David  Cameron  George  Osborne  Toff  Privileged  Establishment  Sozialer  Abstieg  precarious  work  Precariat  globalization  globalisation  working  poor  Labour  Party  Tony  Blair  GordonBrown  sovereign  debt  crisis  Positioning  Polarisation  corporate  state  corporate  media  Lügenpresse  social  Party  p 
october 2015 by asterisk2a
Volkswagen Congress Hearing: Emissions scandal - watch live - YouTube
VW USA subsidiary CEO Michael Horn. // 'VW the people's car.' 36:40 - I had no understanding what a defeat device is & that it could be installed to cheat emission tests. [<< Symptom of being a conglomerate! Corporate Culture & Values.] min 38:09 - Is hardware, software & even has to do something with the fuel tank. In some models (gen 2) its just software & a sensor. // 49:20 - framing of the answer with EPA (influenced?), cars on the road right now, even they are not passing emissions test, "are legal & safe to drive for the owners." // min 57 NOx, air pollution. 'compensation will be part of discussion'. 40 times than allowable limit. // 1:11:00 - according to him, @ the current state of investigations, this was out of the engine-drivetrain-engineering/software/emissions department within VW. Was not a corporate executive decision from the top. [My 2 cents: more likely decision was made within those departments due to pressure from top to make the test pass happen. << 1:51:00]
VW  Volkswagen  conglomerate  corporate  culture  corporate  values  air  pollution  libor  rigging  scandal  banking  crisis  investment  banking  self-regulation  regulation  regulators  accountability  Wall  Street  shareholder  value  profit  maximisation  retail  banking  PPI  mis-selling  scandal  bank  crisis  CDO  CDS  pharmaceutical  industry  pharma  big  pharma  corruption  bribery  Petroleum  automotive  autoindustry  carbonemission  carbonfootprint  emissions  white-collar  crime  Justice  System  Law  &  Justice  corporate  state  corporate  media  Positioning  Meat  Egg  Dairy  food  industry  lobbyist  lobby  Lobbying  revolving  door  conflict  of  interest  fiduciary  responsibility  exploitation  mainstreet.org  ethics  ethical  machine  democracy  Career  Politicians  No  Representation  double  standard  Abgas-Affäre  Interestrateswap  corporate  social  responsibility  corporate  scandal  Chemical  Fashion  deception  PR  spin  doctor  monopsony  oligopol  madoff  Enron  Worldcom  BP  accounting  accounting  scandal  tax  evasion  tax  avoidance  crony  capitalism  TBTF  too  big  to  jail  too  big  to  bail  Ego  arrogance  Monsanto  Protection  Act  patent  troll  intellectual  property  willful  ignorance  willful  negligence  DeepwaterHorizon  tax  code  consumer  fraud  Protection 
october 2015 by asterisk2a
Henryk M. Broder über Deutschland: "Ein opferbereites Volk" - SPIEGEL ONLINE
Nationalstolz? Keineswegs. Henryk M. Broder attestiert Deutschland stattdessen eine "sonderbare Form der Selbstverachtung". Der Publizist über das fehlende Selbstbewusstsein der Deutschen.
Angela  Merkel  Wolfgang  Schäuble  GroKo  Germany  Deutschland  foreign  affairs  foreign  policy  foreign  relations  refugee  crisis  corporate  espionage  industrial  espionage  cyber  espionage  sovereign  debt  crisis  bank  bailout  banking  crisis  TBTF  too  big  to  jail  too  big  to  bail  PIIGSFB  Career  Politicians  No  Representation  history  European  Europe  Nationalism  Russia  Ukraine  Ukrain  Middle  East  Putin  vladimirputin  Crimea  Crimea  G  Zero  USA  presidency  barackobama  Iraq  War  UK  France  China 
october 2015 by asterisk2a
How the banks ignored the lessons of the crash | Joris Luyendijk | Business | The Guardian
Joris Luyendijk spent two years talking to hundreds of City insiders. They revealed how close we came to disaster – and how quickly finance went back to business as usual [...] [Like in cycling, doping ... omerta ... blood brother ] The City is governed by a code of silence and fear of publicity; those caught talking to the press without a PR officer present could be sacked or sued. But once I had persuaded City insiders to talk (always and only on condition of anonymity), they were remarkably forthcoming.
GFC  economic  history  banking  crisis  bank  crisis  shadow  banking  NPL  credit  bubble  recovery  monetary  policy  modern  monetary  theory  TBTF  too  big  to  jail  too  big  to  bail  Oversight  transparency  accountability  CEO  pay  self-regulation  regulation  regulators  lobbyist  lobby  Lobbying  Career  Politicians  No  Representation  fairness  Generationengerechtigkeit  austerity  sovereign  debt  crisis  revolving  door  1%  ZIRP  reflate  reflation  NIRP  QE  Super  Rich  2015  Wall  Street  profit  maximisation  shareholder  value  London  tax  evasion  tax  avoidance  investment  banking  retail  banking  fractional  reserve  banking  excess  reserves  libor  rigging  scandal  bribery  fraud  securities-fraud  corruption 
september 2015 by asterisk2a
VW: Das Auto? Der Betrug! Jakob Augstein zur Abgas-Affäre - SPIEGEL ONLINE
Nicht nur Banken betrügen, auch die Industrie. Das zeigt der VW-Skandal. Deutschland hält sich eher ans Recht als das Ausland? Ein Irrtum. Guter Kapitalismus, böser Kapitalismus? Gibt's nicht. Nur die Notwendigkeit des starken Staates. [...] Die Amoralität ist in der Idee der Firma an sich eingebaut. Menschen haben (vielleicht) Moral. Firmen nicht. Da liegt ein grundlegendes Missverständnis im modernen Kapitalismus. [...] In einem langen Artikel über Wirtschaftsethik hat der "Economist" einmal geschrieben: "Unternehmen, die lügen und betrügen, können nicht erwarten, lange im Geschäft zu sein, selbst wenn ihre Handlungen vom Gesetz gestattet sind." Wir wissen, dass das Gegenteil der Fall ist. Aber so streuen sich die Gralshüter der liberalen Wirtschaftsideologie selbst Sand in die Augen. [ The Corporation (2005) by Joel Bakan ] [...] Beschreibt das nicht perfekt das Wesen der großen Konzerne - je größer, desto besser? Und VW ist sehr groß. [ Amazon's monopsony ]
Volkswagen  conglomerate  VW  crony  capitalism  capitalism  profit  maximisation  shared  economic  interest  shareholder  value  self-regulation  regulation  regulators  oversight  transparency  lobbyist  lobby  Lobbying  revolving  door  Career  Politicians  climate  change  global  warming  Abgas-Affäre  emissions  carbonemission  carbonfootprint  economic  damage  short-term  thinking  short-term  view  post-capitalism  ethical  machine  moral  beliefs  fiduciary  responsibility  neoliberalism  neoliberal  liberalism  ideology  dogma  democracy  Gesellschaft  society  exploitation  economic  history  book  CEO  pay  Leadership  true  north  mainstreet.org  accountability  too  big  to  jail  GFC  banking  crisis  bank  bailout  bank  crisis  TBTF  subsidies  subsidizing  Workers  Union  Trade  Union  inequality  Gini  coefficient  too  big  to  bail  competition  oligarchy  oligopoly  oligopol  Super  Rich  1%  monopsony  Amazon  Google  Inc.  Apple  monopoly  Microsoft  antitrust  trust  distrust  No  Representation  social  contract  political  theory 
september 2015 by asterisk2a
Bubble Machine Timeline: Visual Evidence Of The Fed's "Third Mandate" | Zero Hedge
The problem with rushing to combat any sign of economic or financial market turmoil by resorting immediately to counter-cyclical policies is that the creative destruction that would normally serve to purge speculative excess isn’t allowed to operate and so, misallocated capital is allowed to linger from crisis to crisis, making the next boom and subsequent bust even larger than the last.
financial  crisis  financial  cycle  business  cycle  centralbanks  BIS  Fed  BOE  BOJ  Fed  mandate  monetary  policy  monetary  theory  unconventional  monetary  policy  credit  bubble  Debt  Super  monetary  stimulus  monetary  system  ZIRP  NIRP  QE  dot.com  GFC  recovery  Richard  Koo  fiscal  policy  Boom  and  Bust  distortion  zombie  banks  zombie  corporations  zombie  consumer  banking  crisis  bank  crisis  bank  bailout  creative  destruction  Failure  market  Career  Politicians  Ben  Bernanke  Greenspan-Put  alangreenspan  Janet  Yellen  economic  history  trickle-down  economics  inequality  Gini  coefficient  social  cohesion  social  tension  social  contract  fairness  Generationengerechtigkeit  servitude  sovereign  crisis  Niall  Ferguson  Paul  Krugman  Joseph  Stiglitz  secular  stagnation  western  world  crony  capitalism  lobbyist  lobby  Lobbying  corruption  bribery  revolving  door  capitalism  Wall  Street  shared  economic  interest  profit  maximisation  shareholder  value  TBTF  too  big  to  jail  too  big  to  bail  investment  banking  retail  banking  post-capitalism 
september 2015 by asterisk2a
After the Crisis - Mark Blyth - YouTube
>> what if rise of the banks (deregulation, easy credit, global financial markets - arbitrage, and making money with money) fuelled the growth of the last ~25-30 years. // min 47 3 asset bubbles popped // USA - 40% of corporate profits came from 10% of corporate sector (banks) // 30% of MIT grads went to banks instead of real world engineering and manufacturing. // underwater private sector! via credit bubble: student loans (now 1trn and still rising in USA and UK, future disposable income/discretionary spending lower than babyboomers because of wage stagnation, no wage growth) credit cards, mortgages, heloc (home equity line of credit) --- all will have to focus on paying back debt. // 2015 - us student loans 1.25trn - bit.ly/1KJ29uc + auto loans << bubble to eventually pop when collateral is falling! ie stagnant wages for 10 more years. and more and more cant repay their student loans. // 1:12:00 Bubbles move on; dot.com, real estate (property) & commodities, China,
Mark  Blyth  austerity  GFC  recovery  banking  crisis  sovereign  debt  crisis  economic  history  PIIGSFB  bank  bailout  fairness  Generationengerechtigkeit  toobigtofail  too  big  to  jail  too  big  to  bail  TBTF  ECB  NPL  deleveraging  balance  sheet  recession  underwater  credit  bubble  trickle-down  economics  China  2015  2008  dot.com  western  world  secular  stagnation  debt  servitude  student  loan  debt  student  loan  student  debt  generationy  generation  rent  Millennials  disposable  income  discretionary  spending  marginal  propensity  to  consume  Super  Rich  squeezed  middle  class  Sozialer  Abstieg  self-employment  Zero  Hour  Contract  Contractor  underemployed  precarious  work  working  poor  inequality  Gini  coefficient  post-capitalism  crony  capitalism  capitalism  manufactured  consent  Polarisation  Thomas  Piketty  developed  world  income  inequality  propaganda  populism  corporate  state  corporate  media  democracy  Career  Politicians  lobbyist  Lobbying  lobby  deregulation  self-regulation  Workers  Union  wage  stagnation  wage  growth  income  distribution  income  growth  income  mobility  low  income  income  redistribution  stagnation  consumer  debt  debtoverhang  Super  Cycle  debt  bubble  household  debt  private  debt  asset  bubble  reflate  reflation  asset  allocation  distortion  monetary  policy  monetary  stimulus  monetary  monetary 
september 2015 by asterisk2a
Steen Jakobsen: Get Ready For The Biggest Margin Call In History - YouTube
ideology/Career Politicians/Complacency/Cushy/non-ambitious/AIIB/comfortable //&! bit.ly/1cU2RVS March 2015, SELL & come back in 6 months - bloom.bg/1NTykGB //&! bit.ly/1NJvXai &! bit.ly/1VsYTEJ Outrageous predictions for 2015 were: China devalues yuan 20% [joining others in global struggle to import inflation] &! Corporate high yield market spreads double (higher refinancing cost, which zombie corporations do actually have no pants on as tide goes out) "High yield is a derivative of equity markets. If you believe equities are overvalued, so too is high yield," &! UK house prices crash (foreign hot money, speculative + shortage + Summer 2015 Crash + BOE Taper in 2015/16 = back to reality!) &! Russia defaults again // &! Fed Taper is a "margin call," [need 2 normalize despite its mandate/fundamentals not warranting a hike!] [...] a seven-year bull run 4 equities might be coming to an end [...] the rise (not value) of RMB/Yuan as it becomes free floating out of need] - cnb.cx/1MMyLSC
Abenomics  Yen  Yuan  RMB  devaluation  currency-war  fiat  currency  currency  debasement  currency  war  deflationary  deflation  credit  bubble  PBOC  China  credit  cycle  business  cycle  financial  cycle  financial  crisis  leverage  margin  trading  underinvestment  productive  investment  business  investment  public  investment  personal  investment  infrastructure  investment  rebalancing  structural  imbalance  Impediments  infrastructure  Career  Politicians  short-term  Fortune  500  shareholder  value  profit  maximisation  Wall  Street  ROI  STEM  Research  R&D  business  confidence  consumer  confidence  New  Normal  hunt  for  yield  output  gap  productivity  Software  Is  Eating  The  World  Robotics  3D  printing  Steen  Jakobsen  financial  incentive  secular  stagnation  Manufacturing  Industrial  Revolution  2.0  policy  AIIB  Asia  European  Union  share  buyback  2015  equity  bubble  speculative  bubbles  bond  bubble  property  bubble  asset  bubble  asset  allocation  distortion  demographic  bubble  ageing  population  western  developed  liquidity  trap  UK  USA  Europe  BOE  Fed  BOJ  ECB  bank  bailout  toobigtofail  too  big  to  jail  too  big  to  bail  banking  crisis  sovereign  debt  crisis  austerity  ideology  dogma  economic  history  trickle-down  economics  neoliberalism  neoliberal 
august 2015 by asterisk2a
Dan Ariely: Why The Next Market Downturn May Quickly Become A Full-Blown Panic - YouTube
free self-regulated market where winner take all - creates adverse outcomes. //<< Book - The Darwin Economy: Liberty, Competition, and the Common Good by Robert H. Frank - Competition can be devastating if it is about winner take all !!! - youtu.be/hmbfK​DvDrJI - via Dan Ariely // // !!! QE - reflate - hope and pray confidence will come back and economy roars back to health. did not happen. // poverty trap // trend continues w inequality, // post-racial America // inability to get out of bad situation // under banked, payday loan // studies have shown, Americans imagine/think of their countries more equal and just than Sweden // (1) create new financial institution, retail banking serving people (not making 15% profit p/a to give it to share holders even demanding more) like Sparkassen // (2) reform education // (stop damaging) narrative of invisible hand - getting the best out of people // national identity // sense of agency !!!
inequality  QE  competitive  competition  winner  take  all  monopoly  monopsony  book  shared  economic  interest  common  good  Dan  Ariely  China  credit  bubble  ZIRP  NIRP  business  confidence  consumer  confidence  equity  bubble  speculative  bubbles  Super  Rich  1%  asset  bubble  faultlines  structural  imbalance  Impediments  Gini  coefficient  social  mobility  income  mobility  poverty  trap  child  poverty  poverty  USA  UK  Europe  austerity  recovery  2015  social  cohesion  social  tension  social  contract  welfare  state  social  safety  net  education  policy  skill-biased  technological  change  skills  gap  western  world  post-racial  America  Jim  Crow  working  poor  squeezed  middle  class  Sozialer  Abstieg  Germany  food  poverty  budget2015  fairness  Generationengerechtigkeit  Privileged  Toff  Establishment  Public  Services  Services  society  racial  segregation  gentrification  Gentrified  class  segregation  urbanisation  urban  planning  social  housing  affordable  housing  Lügenpresse  manufactured  consent  corporate  media  corporate  state  propaganda  populism  stigma  self-regulation  deregulation  Wall  Street  invisible  hand  crony  capitalism  profit  maximisation  shareholder  value  bank  bailout  TBTF  too  big  to  bail  too  big  to  jail  meritocra 
august 2015 by asterisk2a
Easy Money Creates the Most Dangerous Bubbles - Bloomberg View
[Money has been slushing arnd in markets speculating, not investing in future & productive, added value goods. big companies are flush 2. easy credit is holding zombie corps of the last century over water. western world is persisting 2 put a banking bailout/crisis in the light of a sovereign debt crisis 2 push idealogical austerity. falling way being, never be able 2 catch up with productivity, output gap, STEM, research, future of work, smart grid & infrastructure, retooling their economy 21st century style.] // "speculation in property markets, amplified by mortgage financing, as a persistent central factor driving economic cycles." [...] the worst bubbles -- those that inflict the most economic pain -- tend to involve not just speculation, but a surge in easy lending and increasing leverage. [...] economic downturns following credit bubbles were generally worse and lasted longer. [...] danger of leverage cycle. // [ easy credit & debt fuelled recovery of assets, not fundamentals ]
book  credit  bubble  liquidity  trap  Richard  Koo  economic  history  zombie  banks  Mark  Blyth  Paul  Krugman  Joseph  Stiglitz  business  confidence  business  investment  economic  damage  2015  faultlines  structural  imbalance  structural  unemployment  skills  gap  skill-biased  technological  change  education  policy  austerity  fiscal  policy  monetary  policy  recovery  western  world  USA  UK  Europe  Germany  underinvestment  productive  investment  infrastructure  investment  Smart  Grid  Software  Is  Eating  The  GFC  Career  Politicians  status  quo  social  contract  fairness  Generationengerechtigkeit  banking  crisis  TBTF  too  big  to  bail  too  big  to  jail  toobigtofail  financial  market  leverage  margin  trading  property  bubble  mortgage  market  ZIRP  NIRP  QE  Impediments  distortion  economic  model  economic  cycle  financial  cycle  financial  crisis  financial  incentive  financial  repression  financial  literacy  ECB  Abenomics  BOJ  BOE  Fed  monetary  stimulus  macroprudential  policy  macroeconomic  policy  microeconomic  policy  deleveraging  balance  sheet  recession  debtoverhang  BIS  unintended  consequences  unknown  unkown  PBOC  China  equity  bubble  speculative  bubbles  bond  bubble  debt  bubble  asset  bubble  asset  allocation  academia  academics  economic-thought  behavioral  economics  behavioral  finance  hubris  panic  consumer  confidence  confidence  trust  banking  investment  banking  distr 
august 2015 by asterisk2a
(2012/13) After the Financial Crisis: How to Tell the Forest from the Trees - YouTube
"Profits are privatized while losses are socialized. How we got here, and how we can get out of this situation." // min20 - UK debt2GDP 2008, +100% Debt on Banks Balance Sheet, ~100% Household Debt, +100% Nonfinancial institutional/corporate Debt, <50% Gov Debt ( bit.ly/1u6QiLP ) risen to <80% Gov Debt2GDP bc of Bank Bailout. ( gross national debt has been rising, unable to pay down because of lack of growth, turning Japan - bit.ly/1f7UNyp ) // It is still a banking crisis. Especially in Europe. Not a sovereign debt crisis. Greece situation made much worse because of austerity. // min 32 - talks about China! China's Assets and Liabilities. 70% of global consumption is US/EU. [but shifting!] From CDO example, China correlates with US/EU vice versa! Chinese property bubble & equity bubble, came 2 an end this Summer 2015! The crisis began w banks & will end w banks! The crisis is still with us. The banks, stupid! // investment banking bust bc of low yields across all public asset classes
Mark  Blyth  austerity  GFC  recovery  2015  economic  history  bank  bailout  sovereign  debt  crisis  Greece  PIIGSFB  zombie  banks  liquidity  trap  ECB  UK  BOE  Fed  USA  China  faultlines  structural  imbalance  Impediments  global  imbalances  savings  rate  savings  glut  shadow  banking  investment  banking  banking  crisis  European  Union  hunt  for  yield  reflate  reflation  ZIRP  NIRP  QE  bond  bubble  speculative  bubbles  asset  bubble  asset  allocation  toxicassets  badbank  policy  error  too  big  to  bail  too  big  to  jail  toobigtofail  TBTF  Richard  Koo  trust  distrust  trustagent  Insolvenzverschleppung  insolvency  insolvent  underinvestment  productive  investment  business  confidence  consumer  confidence  deflationary  deflation  secular  stagnation  globalization  globalisation  hot-money  currency-war  currency  debasement  currency  war  business  investment  New  Normal  margin  trading  demographic  bubble  property  bubble  equity  bubble  ageing  population  western  world  emerging  middle  class  Frontier  Markets  Developing  BRIC  emerging  market  IMF  OECD  credit  bubble  inequality  Gini  coefficient  Thomas  Piketty  poverty  social  mobility 
august 2015 by asterisk2a
Mark Blyth Mackenzie Lecture 2015 – Austerity and the Politics of Money - YouTube
too big to bail, thus stick it to the countries individually. // Draghi Put - LTRO, LTRO 2, ELA, what ever it takes, TLTRO, // 5trn (40% of EU GDP) put into banks since the crisis (as of 2013). // NPL (via stress test) - 1.22trn in NPL in EU banking system as of 2013. // TINA - there is no alternative (same with UK budget2015) - bbc.in/1N3hrdu &! Angela Merkel "Alternativlos" // bailed out the assets (income for banks via mortgages, loans, businesses loans and credit lines, insurance policies, 401ks, pension fund contributions) of the top 20-30% of the income distribution. austerity is put on the bottom 70-20% of the income distribution. a bailout not just of the banks, the system, but also the top 20-30%, the Super Rich, 1%, the Establishment, the Privileged, the babyboomers, the pensioners. ... and add QE, you really reflate/bail out the 1% ... 10% ... 20%, their pensions, investments, and so forth. // this was and still is a Class specific Put Option for those with assets!
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july 2015 by asterisk2a
If People Understood This One Thing, We Would Have Revolution Overnight - YouTube
Martin Luther King, Jr. was working towards a guaranteed basic income for all when he was killed. Wealth inequality, neoliberalism, the actions of the Federal Reserve, along with the greed and theft of the global elite have made the call for a guaranteed basic income for all even more urgent in 2014 than in the 1960s. [...] In his new book, The Economics of Revolution, DeGraw writes: “Having that much wealth consolidated within a mere 1% of the population, while a record number of people toil in poverty and debt, is a crime against humanity. For example, it would only cost 0.5% of the 1%’s wealth to eliminate poverty nationwide. Also consider that at least 40% of the 1%’s accounted for wealth is sitting idle. That’s an astonishing $13 trillion in wealth hoarded away, unused.” In this clip from the full 30-minute interview, DeGraw points out that the Federal Reserve is already printing money and giving it away to the financial elite.
Universal  Basic  Income  book  MLK  QE  bailout  TARP  USA  tax  code  tax  free  economic  history  Middle  Class  fairness  Super  Rich  1%  recovery  labour  market  labour  economics  happiness  index  incentive  work  life  balance  productivity  output  gap  participation  rate  GFC  POMO  wealth  distribution  poverty  policy  folly  policy  error  short-term  thinking  short-term  view  post-racial  America  Gini  coefficient  social  mobility  mobility  Future  of  neoliberal  neoliberalism  No  Representation  lobbyist  lobby  Lobbying  revolving  door  trickle-down  economics  crony  capitalism  toobigtofail  TBTF  too  big  to  jail  Justice  System  prison–industrial  complex  Bail  American  Dream  meritocracy  meritocratic  UK  equity  bubble  Wall  Street  consumer  confidence  business  confidence  corporate  state  shared  economic  interest  stakeholder  profit  maximisation  shareholder  value  Supply  and  Demand  Demand  and  Supply 
june 2015 by asterisk2a
USA: Charleston-Morde und Rassismus - Kommentar - SPIEGEL ONLINE
America has to go back and open old wounds! // http://www.npr.org/2013/12/06/249199217/forgiveness-and-reconciliation-mandelas-legacy - Former South African President Nelson Mandela has died at the age of 95. He had dedicated his life to ending the racially oppressive apartheid system and creating a democratic and inclusive South Africa.
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june 2015 by asterisk2a

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