NZ Asset Sales Policy Began On Wall Street

One thing not mentioned in this otherwise excellent article is the fact that John Key has most of his paper wealth still in what is easily the most corrupt and hated bank; Bank of America and is as such seriously compromised. By Lewis Verduyn The Key government’s asset sales agenda is derived from the Washington […]

22 Reasons Why We Could See An Economic Collapse In Europe In 2012

Will 2012 be the year that we see an economic collapse in Europe?  Before you dismiss the title of this article as “alarmist”, read the facts listed in the rest of this article first.  Over the past several months, there has been an astonishing loss of confidence in the European financial system.  Right now, virtually […]

Interactive Infographic Of The Doomed European Financial System

From Zero hedge blog here is an interactive article explaining why the Euro is doomed and the financial system will collapse. With Europe set to open in a little over 12 hours, and with rumors of Greek default once again flying around in their private taxpayer funded jets (only to turn back to their point […]

Anybody’s guess how bad unemployment will get: English

Am I the only one or is this not something you don’t want to hear from the finance minister either? Well let me tell you something Bill, it will get very bad. In fact if you really want to know how bad it will get I suggest you talk to your smarmy boss, he was […]

Financial Meltdown: The Doublespeak of a Discredited IMF

The international crisis that broke in summer 2008 demolished all the neo-liberal dogmas and exposed the deception behind them. Unable to deny their failure, the World Bank and the International Monetary Fund claim they no longer uphold the set of neo-liberal policies known as the Washington Consensus. Yet, discredited though they may be, these two […]

Too big to fail? 5 biggest banks are ‘dead men walking’

WASHINGTON — America’s five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show. Citibank, Bank of America , HSBC Bank USA , Wells Fargo Bank and J.P. Morgan Chase reported that their “current” net […]

Economic crisis in European Union

Just in case you are thinking that Europe will order our precious dairy and beef think again this is the reality in Europe. For a bigger version of this graph click here [vodpod id=ExternalVideo.789524&w=425&h=350&fv=] more about “Economic crisis in European Union“, posted with vodpod

How the US Economy Was Lost

How long will Americans permit “their” government to rip them off for the sake of the financial interests that caused the problem? Obama’s cabinet and National Economic Council are filled with representatives of the interest groups that caused the problem. The Obama administration is not a government capable of preventing a catastrophe. Paul Graig Roberts. […]

Sometimes it gets on top of me: the Financial meltdown and assorted Frauds

Marc Faber:”One Day the Price of Gold Will Be Higher than the Dow Jones.” The looming collapse of European banking or how the European banks would like us to bail them out for 16.5 trillion dollars. Stanford depositors swarm banks Who’s behind Madoff? Think Bush and Cheney Charts: Dow Has Just Days to Avoid Big […]

The 2008 World Economic Crisis: Global Shifts and Faultlines

The last months of 2008 witnessed what is being called the worst financial crisis since the Great Depression of 1929-30. The first indications of a serious crisis appeared in January 2008. On 15 January, news of a sharp drop in the profits of the Citigroup banking led to a sharp fall on the New York […]

Is Europe in pre revolution mode?

“If need be we will stay here until Easter. If need be, our tractors will grow roots,” said one farmer. “We are bankrupt. We’ve got nothing to lose.” (Protesting Greek farmers.) “It’s not up to workers to pay for the bankers,” read one banner. “The bosses caused the crisis, let them pay for it!” said […]

Chief Economist: It’s A Depression

Morici one of first senior analysts to admit U.S. faces 1930’s style collapse Paul Joseph Watson Prison Planet.com Monday, January 12, 2009 Professor Peter Morici, a former chief economist at the U.S. International Trade Commission, has become one of the first senior economists to admit that the U.S. is facing a 1930’s style depression. Noting […]

Top holiday house prices in freefall

I don’t particularly care about stupid and ignorant yuppies who believe that it is OK to buy over the top prices for snobby houses in snobby places based on expectations built on the misconception that growth can go on forever. I’ve always thought that beautiful places like Waiheke Island and the Coromanel should stay exactly […]

We’re below the high-tide mark and a big wave’s coming

When in January 2005 I first wrote about the growing global financial imbalances and their likely consequences I was almost alone in my concerns, but not quite. From early 2004 onwards there was the odd squeak of disquiet, mainly from US writers, and this grew slowly until late 2007 when the markets started to tip and […]

En Route to Military Rule

To the woefully uninformed average Kiwi the US is still the “shining city” on the hill and the UK is still the motherland and nobody sees anything wrong with pledging allegiance to the Queen of England who serves only as the spokes person for the ruling Oligarchy i.e. the banksters and the corporate scamsters who […]

The Economics of Trust

I have previously argued that the economy cannot recover until we restore trust in our government, our leaders and our systems. This essay provides further evidence in support of that argument. The Economics of Trust Forbes wrote an article in 2006 entitled “The Economics of Trust”. The article summarizes the importance of trust in creating […]

Federal Reserve sets stage for Weimar-style Hyperinflation

The Federal Reserve has bluntly refused a request by a major US financial news service to disclose the recipients of more than $2 trillion of emergency loans from US taxpayers and to reveal the assets the central bank is accepting as collateral. Their lawyers resorted to the bizarre argument that they did so to protect […]

Retirement dreams unravel

While National under the lead of an ex Wall street scheister gives themselves tax breaks at the cost of the poorer workers and  takes away workers rights at break neck speed the international financial markets John Key parasited in keep collapsing as a result of the banksters greed. And then  of course there is the […]

The Great Depression of the 21st Century: Collapse of the Real Economy

The financial crisis is deepening, with the risk of seriously disrupting the system of international payments. This crisis is far more serious than the Great Depression. All major sectors of the global economy are affected. Recent reports suggest that the system of Letters of Credit as well as international shipping, which constitute the lifeline of […]

Financial crisis: pound falls most in 15 years in wake of B&B nationalisation

Within hours of trading opening in London, sterling was down almost four cents against the greenback to $1.8036 – the biggest intraday decline in 15 years. The news that the Government has taken ownership of the UK’s biggest buy-to-let lender also left banking shares reeling, with HBOS down 8pc, Barclays and Lloyds TSB 7pc lower, […]

Is the credit crisis a hoax?

I suspect that part of what we’re seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout,” said David K. Levine, an economist at Washington University in St. Louis, who studies liquidity constraints and game theory. By Matthew Benjamin Sept. […]

Pre-election Militarization of the North American Homeland. US Combat Troops in Iraq repatriated to ” help with civil unrest”

With the coming economic meltdown and the desperate future for the average American citizen if I was Bush, Cheney or one of his banking cronies I would want a big army too when 300 million Americans find out how they have been ripped off and cleaned out. When they are paying for their rich masters […]

Bailout Could Deepen Crisis, CBO Chief Says

The director of the Congressional Budget Office said yesterday that the proposed Wall Street bailout could actually worsen the current financial crisis. This Story 9 P.M.: Bush Calls Bailout Vital to Economy, Will Meet With McCain and Obama President Puts His Powers of Persuasion to the Test Transcript: President Bush Delivers Remarks on the Financial […]

Now Is the Time to Resist Wall Street’s Shock Doctrine

by Naomi Klein I wrote The Shock Doctrine in the hopes that it would make us all better prepared for the next big shock. Well, that shock has certainly arrived, along with gloves-off attempts to use it to push through radical pro-corporate policies (which of course will further enrich the very players who created the […]