- See also:
9/11 NYC Firefighters’ Controlled Demolition Testimonies!
9/11 Truth’s HUGE Demostration At Los Angeles Anti-War March!
9/11 Missing Links To Israel
Ex-Italian President: 9/11 Was CIA/Mossad Operation
Dr. Alan Sabrosky, Ex-Director of Studies At The US Army War College: The US Military Knows MOSSAD and Traitorous Elements in US Government did 9/11 !
9/11 Clues Everyone Missed!
Alex Jones: Speech On Architects and Engineers for 9/11 Truth Seminar at DoubleTree Hotel, Austin Texas.
9/11 Commission Was Ordered to Scale Down Investigation!
Architect Ron Avery Discusses Evidence of 9/11 Being an Inside Job!
Texas Architects & Engineers call for a Real Investigation of the Destruction of the World Trade Center on 9/11 !
Fabled Enemies: 9/11 False Flag Operation and State Sponsored Terrorism!
9/11 Truthers Attend Treason in America!
Eye Witness Reports on Bombs/Explosions Bringing Down The WTC!
Bush Caught Lying About September 11th!
Professors Phillips & Huff: State Crimes Against Democracy!
Twelve New England Towns Demand 9/11 Reinvestigation
Fire Fighters for 9/11 Truth !
Architects For 9/11 Inquiry: Fire Couldn’t Demolish WTC In 11 Seconds !
9/11: Analysis of North Tower Demolition!
9/11 Truth Search: Planes Didn’t Take Twin Towers Down !
1,000 Architects & Engineers Call for New 9/11 Investigation!
Professor Chossudovsky: War and Globalization – The Truth Behind September 11 !
9/11 The Road to Tyranny
Former FBI Chief Says 9/11 Was An Inside Job!
Outfoxing the 9/11 Coverup
Controlled Demolitions Caused the Collapse of the World Trade Center (WTC) buildings on September 11, 2001
The 9/11 Commission Rejects own Report as Based on Government Lies!
Bigard’s 9/11 Series
9/11 Truth Revolution
9/11 and Hitler’s Reichstag Fire!
Bee Gees: 9/11 is a Lie!
Stop the 9/11 Cover-Up! 9/11 Commission Members Doubt Official Story !
9/11 Loose Change Documentary
Seven CIA Veterans Challenge 9/11 Commission Report!
Actor Charlie Sheen: America Was Behind the 9/11 Atrocities!
Aaron Russo: Rockefeller Knew about 9/11 Well In Advance?
Jesse Ventura on 9/11 Inside Job
Turning 9/11 Realities Upside Down: When the “Big Lie” becomes the “Truth”
9/11 In 7 Minutes! 9/11 Myths – Think About It!
Japanese Politician Yukihisa Fujita: Bush’s 9/11 Lie !
Councilor Fujita Questions 9/11 in the Japanese Diet (Parliament)!
The 9/11 Chronicles: Part One, Truth Rising!
Richard Gage: Was 9/11 an Inside Job?
Justice for 9/11
9/11 Coincidences – 1
9/11 Coincidences – 2
9/11 Coincidences – 3
9/11 Coincidences – 4
9/11 Coincidences – 5
9/11 Video Clips Dan Rather Would Rather Not Show You
Osama Bin Laden Worked for US until 9/11
Experts Want New 9/11 investigation
Jesse Ventura: They Spent $100M Investigating Clinton But Only $4M On 9/11!
Professor Harrit: WTC Buildings Were Brought Down By Controlled Demolition
Official 7/7 London Bombing Account is a Complex and Contradictory Series of Lies!
New 7/7 Bombing Photo Contradicts Official Story
9/11 FLIR Infrared Camera proves NIST and 9/11 Commission Lies
Major General (Ret) Albert N. Stubblebine: Official Version of 9/11 is a Fraud!
29 Structural & Civil Engineers Cite Evidence for Controlled Explosive Demolition in Collapses of All 3 WTC High-Rises on 9/11
Major 9/11 Truth Breakthrough KBDI Denver Airs 9/11 Press for Truth
9/11 Blueprint for Truth
Danish Scientist Niels Harrit: Nano Thermite (Explosives) in the WTC Dust !
Active Thermitic Material Discovered in Dust from the 9/11 World Trade Center Catastrophe
Medical Professionals for 9/11 Truth
Political Leaders for 9/11 Truth
- The FedRes will go the inflation route. Helicopter Ben has hinted at this many times. However, Uncle Sam will hide inflation with their manufactured statistics. They will fail when US go into hyper-inflation. Think 10% inflation month over month. Professor Roubini:
Financial crises have occurred very often in history. They are caused by unsustainable bubbles that go bust, and from excessive risk-taking and debt-leveraging by the private sector during the bubble. Then in the wake of, and as part of the response to, the economic downturn, government debts and deficits grow to unsustainable levels that can lead to default or inflation if not corrected. The crisis we are going through now follows this pattern.
Today there is a lot of talk about “de-leveraging”, yet the data shows that de-leveraging has barely begun. Debt ratios in the corporate sector as well as households in the US have essentially stabilised at high levels.
At the same time, we are seeing a massive “re-leveraging” of the public sector with budget deficits on the order of 10 per cent of GDP. The IMF and OECD are projecting that the stock of public debt in advanced economies is going to double and reach an average level of 100 per cent of GDP in the coming years.
…. we have decided to socialise some of the private losses in the financial, corporate and housing sectors and put them on the balance sheet of the government.
So, there is a massive buildup of public debt. And the lesson of history is that unless this buildup of sovereign debt is tackled eventually by raising taxes and controlling spending, then there are only two outcomes: default or high inflation.
Historically, we have seen a series of defaults and sovereign debt crises in both advanced and emerging market economies. If you are a country like the US, the UK or Japan that can monetise its fiscal deficits, then you won’t have a sovereign debt event but high inflation that erodes the value of public debt. Inflation is therefore basically a capital transfer from creditors and savers to borrowers and dissavers, essentially from the private sector to the government.
While the markets these days are worrying about Greece, it is only the tip of the iceberg, or the canary in the coal mine of a much broader range of fiscal crises. Today it is Greece. Tomorrow it will be Spain, Portugal, Ireland and Iceland. Sooner or later Japan and the US will be at the core of the problem, shaking the global economy.
We need to recognize that we are in the next stage of financial crisis. The coming issue is not private-sector liabilities, but public-sector liabilities.
Revived economic growth alone will not generate enough tax revenue to relieve this sovereign debt crisis. Fiscal deficits are huge and structural. They are not due solely to a cyclical downturn in growth but to long-term commitments such as pensions, social security and health care. To avoid default or high inflation, the advanced economies will require some combination of raising revenues through taxes and cutting government spending.
In Europe, where tax rates are already very high, the right adjustment is cutting spending instead of raising taxes further. In the US, the average tax burden as a share of GDP is much lower than in other advanced economies. The right adjustment for the US would be to phase in revenue increases gradually over time so that you don’t kill the recovery while controlling the growth of government spending.
What worries me most is the political gridlock in Washington. While everyone agrees that $10 trillion (Dh36.7 trillion) deficits (by the Obama administration’s own estimates) for the next decade are not sustainable, there is no political will to act. The two parties are completely divided. Effectively, the Republicans are against any form of revenue increases. The Democrats are against spending cuts, especially of entitlements.
If the Republicans take control of the House of Representatives in the next election and refuse any revenue increases while the Democrats veto spending cuts, the path of least resistance will be runaway fiscal deficits which will then be monetised by the Federal Reserve, which has already embarked on this path. In just the last year alone, the Federal Reserve has bought $1.8 trillion of Treasury securities and agency debt, a course that will inevitably lead to high inflation if sustained. It is what is popularly known as printing money.
In Greece (with yields higher than 12 per cent on two-year bonds) or Spain or Portugal, the bond markets are forcing an adjustment. In spite of the recession, the markets are telling them to either straighten out their problems or go bankrupt.
Unfortunately, there is no such adjustment being forced upon Washington at the moment because the bond market has not woken up to the dangers ahead. You can borrow at a zero percentrate on the short end and 3.6 per cent on the long end. As a result, the political system is going to resist fiscal consolidation. This means the risk of something serious happening in the US in the next two or three years is significant.
- Santelli is the Man! He still has the intestinal fortitude to tell the truth unlike the many shills on financial TV.