Where does the money recycle to?
Businesses make political donations - libs and labor - get legislative favours.
Libs and labor - buy advertising - securing continuing favourable comment.
People pay not only taxes but a little more to all the businesses (to cover political donations).
This isnt the recycling the greens believe in,they dont even get a handle on it. Its little wonder we are stuck in a two party system. The greens aren't buyable nor profitable for corporate lobbyists. They've no cash to splash and cant buy public opinion. Thats where "Democracy" fails, when profit and money buys opinion from those who prefer not to penetrate the powergame.
Showing posts with label capitalism. Show all posts
Showing posts with label capitalism. Show all posts
Tuesday, August 5, 2014
Saturday, March 23, 2013
Default and Dominoes - Cypress
So Cypress has taken the less damaging option, given in to the realisation that they cant fund their own deposit insurance scheme if their banks go down.
But which other PIIGS country can? America could, they could print more money, so too the Brits but the countries bound by EU legislation cant source the QE to comprehensively guarantee their deposit insurance schemes. We dont even know if America would want to protect and cover deposit holders.
Have the EU financiers understood this? Cypriot haircuts are likely to prove highly contagious. Were it October and impending Winter in the PIIGS countries there would be certain economic terror and mayhem. Maybe the hopefulness of Spring will engender acceptance and thwart any impending run on the banks.
Otherwise the only solution is to have the ultimate guarantor of each countries deposit insurance schemes the EU itself, lest it hold any out of favour country to ransom.
This haircut to save the big financiers could easily be at the expense of the whole global economy.
As the economic policy is run by bankers, it will likely take a Grillo, to roll the austerity Monti's of the EU before any people powered economy can establish a sound and sustainable economy into the future.
But which other PIIGS country can? America could, they could print more money, so too the Brits but the countries bound by EU legislation cant source the QE to comprehensively guarantee their deposit insurance schemes. We dont even know if America would want to protect and cover deposit holders.
Have the EU financiers understood this? Cypriot haircuts are likely to prove highly contagious. Were it October and impending Winter in the PIIGS countries there would be certain economic terror and mayhem. Maybe the hopefulness of Spring will engender acceptance and thwart any impending run on the banks.
Otherwise the only solution is to have the ultimate guarantor of each countries deposit insurance schemes the EU itself, lest it hold any out of favour country to ransom.
This haircut to save the big financiers could easily be at the expense of the whole global economy.
As the economic policy is run by bankers, it will likely take a Grillo, to roll the austerity Monti's of the EU before any people powered economy can establish a sound and sustainable economy into the future.
Friday, June 10, 2011
Competent Management
Reuters has China warning the US that a treasury default would be playing with fire. The Republicans are using it to strong-arm Obama into serious social budgetary cuts.
Had I the billions in treasuries that the Republicans are ready to default upon I would offer, "If you are unable to manage things, and meet your obligations as and when they fall due, I will help you. I will take over the administration of the USA, on behalf of the people, will tax the rich, continue the Social Security programs, begin new infrastructure works and make sure all treasury obligations are also met." I dare say there would be a media furore, I would be public enemy number one, I might even find myself assassinated, but surely the American people would prefer that to China making a similar move, saying, "We have agreements with you, our system works, we prosper, pay our debts and grow. You and your Capitalism must have grown too old - died! It is time to live under our rules"?
Had I the billions in treasuries that the Republicans are ready to default upon I would offer, "If you are unable to manage things, and meet your obligations as and when they fall due, I will help you. I will take over the administration of the USA, on behalf of the people, will tax the rich, continue the Social Security programs, begin new infrastructure works and make sure all treasury obligations are also met." I dare say there would be a media furore, I would be public enemy number one, I might even find myself assassinated, but surely the American people would prefer that to China making a similar move, saying, "We have agreements with you, our system works, we prosper, pay our debts and grow. You and your Capitalism must have grown too old - died! It is time to live under our rules"?
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