Busted: Bankers and The Global Economy

October 9, 2010

World economy breaking with US

As the US economy teeters on the edge of decline and a double dip recession, emerging economies continue to grow at a fast pace, fueled by multinational corporations. This changing global economy reveals a United States that is not the center of the economic world.

Financial leaders have joined hands to decide how to boost the global economy at the annual IMF and World Bank meeting. A number of these financial leaders suggest a break up, what is known as a “de-coupling”, in the wings for a number of years, but gaining traction as the US economy stagnates. Central bankers, along with complicit US politicians, have rode the US horse into the ground and now have their eyes on the next rising star to enhance their prosperity. Most politicians advertise that the US will live forever, even though powerhouse nations through history have ebbed like the tidal flow.

The world is breaking away from the US as the consumer of last resort,” said analyst Edward Harrison, the founder of CreditWriteDowns.com. “You’ll see a lot more importance in China, in Russia.” Corporate multinationals and US politicians have raided the US economy over the last thirty years and put that stock in other economies like China, Brazil, Russia and India in the name of globalism. The view is that growth in the global economy will be much more dependent upon these countries than on the “developed economies.” Whether this is true or not remains to be seen.

Meanwhile, the US continues to run by idiot lawmakers that are afraid of multinational corporate power or are having their pockets lined behind the scenes. Like the old Roman Empire, the US seems bent on its’ own self-destruction to salve the interests of a few “leaders of men.”

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November 10, 2008

The Global Finance Summit Rush to Rhetoric

bretton-woodsInternational hullabaloo from UK, France, and Germany for a new international financial architecture moved the G7 Finance Ministers into action. US president George Bush has snubbed the U.N. proposal to host an international summit, instead promoting an G8 summit of key leaders in Washington D.C. on November 15th. If successful, this may be the greatest chance since 1944 to influence the structure of international finance since the Bretton Woods accord. The proposals so far want to put the world’s leading industrialized economies and a select few emerging economies in charge, generally referred to as the G20. The role of central bankers is curiously absent in publicity. Doubtless, central bankers have the pulse of the situation and probably are largely responsible for a more conservative response to the European Union’s vivid promotion and sweeping enthusiasm last month.

global-financial-agreement1Activists have urged world leaders not to lose sight of perceived international challenges like climate change and poverty as authorities focus their efforts to repair the world’s financial system. Politicians are concerned about such things. Central bankers are not.

Not to be outdone or completely humiliated, the president of the U.N. General Assembly announced a high-level task force to review the global financial system, including the World Bank and IMF. ~ E. Manning

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