Busted: Bankers and The Global Economy

August 13, 2010

Fed Policy Lacks Real Power, Drains Economy

Filed under: banking, corporatism, economy — Tags: , , , , , , , — digitaleconomy @ 10:49 am

Quantitative easing (QE) by the Federal Reserve did plenty for Wall Street and international banking, but hasn’t warmed up the real  U.S. economy. The Federal Reserve creates money out of thin air to buy U.S. Treasuries, mortgage-backed securities and corporate debt for temporary funding purposes with the  hope of selling them at an advantageous time.  Indications (based on gov’t figures) are that either the stimulus did not work or it did work, but the real economy was more severe and harder to control than advertised. Your opinion?   The ongoing structural and underlying massive debt is now more pressing thanks to the Federal Reserve policies. At this moment, Fed Chairman Ben Bernanke is arriving in Washington to testify before Congress to answer for the disaster. No doubt, he will bumble on about financial literacy, like this knowledge actually helps anyone when greed and corruption were and are the largest issues behind the meltdown. The Fed is just another large corporation with their own money-making agenda.

The policy followed by the Fed has bailed out the system that was initially responsible for the meltdown, but has done little to nothing for unemployment, exports, small business, consumer spending or declining revenues. For years America lived on credit as wages have not kept pace with real expenses.  Moral support by the banking community has vaporized since the they have been unable to monetize securities. On balance, the simple act of loaning money isn’t enough for them. They want another way to make runaway profits, as if the fractional reserve isn’t rich enough for them!

The Fed itself is aware of what they are facing and the obvious disconnect from all their past projections. This was published in a chart included in the latest economic paper by the Fed in Dallas titled “Unemployment Exceeds No-Stimulus Forecast.”

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April 12, 2010

Multinational America & Cheap Labor

Even highly educated Americans can hardly win with a nationwide crisis of underemployed and unemployed. Clearly, America lives in the age of the wage slave, a time of mindlessness and lack of creativity. Corporate America remains addicted to outsourcing overseas, especially where cheap Indian labor is concerned. Now globalist academia, notably the University of Houston, is outsourcing teaching assistant jobs to India. Globalists are doing much more than that. Even Houston is a new center of foreign training basking in the warmth of  globalist conceit. Meanwhile, Bill Gates vis-à-vis Microsoft, has continued to sack the prospect of American jobs by sending them overseas. Since Gates can’t bring Indian help legally into America by the truckload, he is sending precious jobs overseas at a time when an unprecedented number of qualified educated Americans are out of work. Almost half of the those on the unemployed rosters have been out of work for more than six months. It seems to me that the time is nigh to outsource the national sociopaths.

It is high time to move away from the falsehood of corporate globalism to consider employing educated U.S. citizens. Having experience myself in dealing with teams of the hired from Mumbai, I must admit that they seem to be bright people on the surface. They are humble and do what they are told. Hell yes, they are eager to please! That is where the panacea ends folks! You will tell them again and again, yes… and again. You will spend hours in special conference calls dealing with “the meeting of the minds,” as they continue to pour out work that most children can do.

Multinationals: your jobs building another nation.

The communication and cultural barrier looms large as work is redone over and over. As far as being eager to please, this is hardly a surprise since corporate buildings spring from some of the worst slums of India, corporate neighbors that gleam in contrast to some of the worst ghettos the world will see. Who wants to leave a pretty polished office in favor of a human black-hole of mud and cardboard? It is time to fully realize that this is a human rights issue. Elevating foreigners that live in mud holes seems to be the human thing to do, unless you are merely elevating them to the underpaid wage-slave status as they fight in their minds about what the hell is in the minds and attitudes of managers in Corporate America. Surely “Bob Cratchit” had it no better and we have the nerve to think that globalism is doing them a favor, kind of like how imperial Britain was good for India too.

Meanwhile, the good boys and girls at Deloitte, Price Waterhouse , Microsoft, IBM and the whole lot of lousy multinational sleezoids continue to undermine and use an entire planet of human beings for what is good for corporate needs at the moment while basking in the glow of sustainability and green politics. You can add all of Wall Street and their overseas markets to the list too because this behavior is all the same thing.

Behind the corporate scenes in India, destined for a third world U.S.A.

That isn’t enough for “Multinational America.” This well-funded, organized racket is built on lies of an American labor shortage that oozes from ivy league “innovation.” They have legitimized the crime of selling out “spoiled Americans” in the hope of instilling and importing India’s caste system into the United States for their own benefit. They are debasing the nation so they can continue to ply their usury on the nation as they pimp globalism to proffer their bottom line and the meaning of their miserable existence. So much for socially responsible behavior. Too bad that President Obama doesn’t have the good sense to charge this modern-day pack of miscreants with treason. These are the sort that only Benedict Arnold could love.

Meanwhile, they can bask in the glow of globalism, an effort to justify the behavior of sociopaths. Believe me, these kids from India aren’t paying the bill. Multinational corporations are.

March 1, 2009

U.S. Budget Goes Bust

obama-camp-lejeuneThe economy is in a tailspin, contracting at a 6.2 percent pace in the last three months of 2008: the worst performance in decades. The White House announced that it will take a 36-percent stake in Citigroup in the hope of keeping it afloat amid huge toxic debt and a continuing crisis of confidence. These are ominous reminders that the nation has critical decisions to make in order to turn things around. President Obama appears to have ditched the Bush administration’s Washington-style budget sleight-of-hand with the attempt to honestly portray what the government will actually spend. In the mind of President Obama, his truth in budgeting approach is designed to help Americans make informed choices. That is exactly what Americans have been doing without government so far. We react to the failures of government, business and even ourselves. Even so, President Obama reveals that $3.6 trillion is to be spent in 2010, with almost $1.2 trillion of it borrowed.

What is President Obama’s message to taxpayers and Capitol Hill? We need to quit magical thinking. All the thing the nation’s needs will not pay for themselves. Laying the groundwork for a strong economy in the future isn’t without cost. Does America want to kick fossil fuels out for a greener future? How will America reform how we pay for health care, so that the nation can get more for our dollars and reduce the ranks of the uninsured? How do we keep Medicare solvent with the swelling rank of the disabled and a steadily growing retirement community? The nation needs a larger federal contribution for our schools. How will the nation repair and maintain roads, bridges, airports and mass transit? Now there is talk of building a modern energy grid. The president is counting on the economy to be growing by 2011. He plans on halving the deficit by 2013 through taxation of the upper class and perhaps through restricting corporate taxes loopholes and offshore banking. Keeping a deficit in the same place is difficult enough with the proposed spending required to save the nation and its’ current power and financial structure. That deficit reduction remains to be seen. Along the way, the nation must discontinue the practice of borrowing, spending and passing the bill to our kids to deal with. We just haven’t figured out how to do that yet.

You can argue that money isn’t everything, but you can’t argue that fact when you are in government and money is everything. ~ E. Manning

January 13, 2009

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