Congressman Ryan says that President Barack Obama’s budget strategy is to “do nothing, punt, duck, kick the can down the road” while the debt remains on track to eventually hit 800 percent of GDP. Ryan added that the CBO is saying it “can’t conceive of any way” that the economy can continue past 2037 given its current trajectory.
In her new book, Naomi Klein describes the economic process and consequences of multinational politics inflicting capitalist theory on the world. In essence, after moments of crisis, new answers are touted through the regression of human rights in exchange for corporate economic “therapy”. Privatization of “government function,” as in the case of Blackwater and Deloitte, are typical exploits to get around temporary blockades of policy, politically sanctioned as in the case of the Federal Reserve. A radical example of this disaster therapy is the result of Hurricane Katrina, where “the hand of God” is what made the restoration of a better New Orleans possible by removing the people.
With a little fun in mind, Busted Bankers is revealing the truth about subprime mortgages and banking securities in video with a satirical edge. The dynamic Australian duo size up the situation in global banking and finance perfectly. I hope you enjoy this video as much as I did. ~ E. Manning
The power of agreement is a wonderful thing. Finally, the president, the federal reserve, the lawmakers are in closer agreement as to the actual state of the economy. Emergency circumstances after the collapse of Bear Stearns created a temporary alignment of opinion, created by a need to act. President Bush released this statement to calm the jitters somewhat and exercise his eternal confidence in the U.S. economy. His facial expressions show a bit a anxiety toward the end of his statement that you might want to watch for.