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avivajazz  jazzaviva

It's Confirmed, no one Will be Rescuing Your Dollars - 0 views

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    10/05/09 Stockholm, Sweden Even with the US dollar's deterioration over the past six months, the G7 has decided to let it continue to fall. Forbes reports today that the G7 "abandons the dollar." This is despite problems, such as economic instability, that a weakening dollar can cause central bankers around the world. From the US perspective, there are some benefits associated with a weaker dollar, in terms of increased exports and the possibility of inflating away the massive debt the government is building up so quickly.
avivajazz  jazzaviva

The G-7 Abandons The Dollar | Forbes | 10.05.09. - 0 views

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    The G-7 abandons the dollar. The greenback fell further after the G-7 would not come to the rescue.
avivajazz  jazzaviva

A Dollar Rout Or More Bernanke Trickery? By Mike Whitney - 0 views

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    "The decision to skewer the dollar was made by the big banks and their allies at the Federal Reserve."
avivajazz  jazzaviva

Enlightened Economics: There Is an Alternative - 0 views

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    Both Republicans and Democrats have been explaining that "There Is No Alternative," we need public policies promoting austerity because government is "out of money." The question seems to be not "do we need austerity?" but "will we be austere sooner or austere later?" Meanwhile, the bipartisan consensus is that the government is definitely out of money. But these assertions are at odds with the common knowledge that the U.S. government literally creates its own money. Unlike the euro, the dollar is a sovereign, fiat currency, unconstrained by exchange rates or treaties. And since Nixon closed the gold window, government can issue dollars without waiting for gold or silver mines to provide any backing for them. So we can't possibly be "out of money," any more than the Bureau of Weights and Measures can be "out of inches."
avivajazz  jazzaviva

BrownMan | Daily Kos Dairy | Lobbyists + Congressional Black Caucus Foundation - 0 views

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    More than $13 BILLION dollars were spent by lobbyists on Congress between 2004 and 2008. ... Only $55 MILLION dollars were collected by the Congressional Black Caucus Foundation and CBC related charities between 2004 and 2008.
avivajazz  jazzaviva

Insuring Against Private Capital Flows: Is It Worth the Premium? What Are the Alternati... - 0 views

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    With the U.S. economy still the driver of global demand (and retaining its hegemonic dollar position), consumer retrenchment in the U.S. could pose a serious threat to global stability
avivajazz  jazzaviva

US Faces Retro 70s Inflation | CNBC.com - 0 views

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    "The true inflation rate in America? It's certainly at least 6 or 7 percent, the US government lies about it, as you know, everybody who shops knows that prices are up, everybody except the US government. Rogers repeated his view that the Fed's quantitative easing program is "debasing the currency" and said he was "extremely worried" about the fate of the dollar over the long term. Asia is the region where investors should go, as countries in that region have strong reserves while once-strong economies such as the US and the UK are now in debt, he said.
avivajazz  jazzaviva

Multi-front fights & the influence machine: Obama & lobbyists who know no limit | "We a... - 0 views

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    As of mid-August 2009, there were six (6) lobbyists per single (1) member of House and Senate (Bloomberg News). That's 6:1, folks. Just for healthcare reform. For financial industry reform, there are 2,400 lobbyists in play. The Chamber of Commerce spent $26.2 million--in the first 2 quarters (6 months) of 2009. Clearly, private industries and their foot soldiers on K Street/Capitol Hill influence/dictate American policymaking. No matter who's 'voted in,' it's the influence machine that rules Washington. Worse, there's a good chance that the Supreme Court will grant corporations (as 'fictive persons') to spend unlimited dollars in funding electoral campaigns. Is there hope that this country will be a democracy one day? Or is it doomed to become increasingly, irrevocably plutocratic?
avivajazz  jazzaviva

Daily Kos: What Wasn't Passed During the Senate Finance Committee Markup on Healthcare ... - 0 views

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    Includes videos of debate between Senators Rockefeller and Bingham over how much of a premium dollar should be used to pay for healthcare; discussions of Inginex fraud; debate over unwarranted subsidies given to health insurers; lack of federal oversight of insurers; etc.
avivajazz  jazzaviva

Obama Warns Debt Ceiling Should Not Be 'Used As A Gun' To Extract Tax Breaks - Politica... - 0 views

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    Speaking at the Twitter Town Hall at the White House today, the president said Congress "shouldn't be toying" with the debt ceiling and cautioned against risking the financial health of the country in order to protect the interests of the super wealthy.   "Never in our history has the United States defaulted on its debt. The debt ceiling should not be something that is used as a gun against the heads of the American people to extract tax breaks for corporate jet owners, for oil and gas companies that are making billions of dollars because the price of gasoline has gone up so high.  I mean, I'm happy to have those debates.  I think the American people are on my side on this," Obama said. The president was adamant that when it comes to fixing the economy and solving the deficit problem "we should go with what works," and that's a tax increase on the wealthy. "If the wealthiest among us -- and I include myself in this category -- are willing to give up a little bit more, then we can solve this problem.  It does not take a lot… when people say, you know, "job-killing tax increases, that's what Obama's proposing," we're not going to," he said. "You're entitled to your own opinions, but not your own facts.  And the facts are that a modest increase for wealthy individuals is not shown to have an adverse impact on job growth." "We can test the two theories.  You had what happened during the '90s.  Right?  Taxes for wealthy individuals were somewhat higher, businesses boomed, the economy boomed, great job growth;  and then the 2000s, when taxes were cut on wealthy individuals, jobs didn't grow as fast, businesses didn't grow as fast. I mean, it's not like we haven't tried what these other folks are pitching.  It didn't work.  And we should go with what works," he said.
avivajazz  jazzaviva

"The Last Picture Show": President Barack Obama's Fiscal Year 2009 and 2010 Budgets - 0 views

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    If the banks can create trillions of dollars in credit out of thin air for lending, why can't the government create it for the people? Read about introducing $2.5 trillion of debt-free money into the economy (via the Cook Plan). Pretty radical suggestions here. But they make sense to me.
avivajazz  jazzaviva

The Declining Dollar: Is There a Government Solution? -- Seeking Alpha - 1 views

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    "Is national economic policy in the hands of unknown bankers and financial interests around the world?"
avivajazz  jazzaviva

Wall Street's Ten-Minute Trillion-Dollar Computer Freak-Out | May 6, 2010 - 0 views

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    The Dow Jones Industrial Average fell almost 1000 points in ten minutes today, wiping out $1 trillion in equity values as algorithmic trading by high-speed computers spun out of control.
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