Socio-Economics History Blog

Socio-Economics & History Commentary

Peter Schiff – Why the Meltdown Should Have Surprised No One!

  • The 2009 Henry Hazlitt Memorial Lecture, presented by Peter Schiff. Recorded at the annual Austrian Scholars Conference, Ludwig von Mises Institute, 13 March 2009.

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April 14, 2009 Posted by | Economics | , , , , | Comments Off on Peter Schiff – Why the Meltdown Should Have Surprised No One!

Gerald Celente – Corporatist Fascist America !

  • Gerald Celente of Trends Research Institute , the renown forecaster :
      
    – America has been dumbed down so much they cannot understand what is happening.
    – America is heading towards fascism!

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April 14, 2009 Posted by | Economics | , , , , , | 5 Comments

China Slows Purchases of US and Other Bonds

  • There is really no reason for China or Middle East Petrodollars and Japan to continue buying US bonds at the rate they were buying in the past. American imports have collapsed. These countries have less USD to buy bonds with.
     
  • This is the reason why the FedRes have step in to monetize bonds ie buy them up by printing money out of thin air.
     
  • New York Times reports :
     
    Reversing its role as the world’s fastest-growing buyer of United States Treasuries and other foreign bonds, the Chinese government actually sold bonds heavily in January and February before resuming purchases in March, according to data released during the weekend by China’s central bank.
     
    China’s foreign reserves grew in the first quarter of this year at the slowest pace in nearly eight years, edging up $7.7 billion, compared with a record increase of $153.9 billion in the same quarter last year.
     
    China has lent vast sums to the United States — roughly two-thirds of the central bank’s $1.95 trillion in foreign reserves are believed to be in American securities. But the Chinese government now finances a dwindling percentage of new American mortgages and government borrowing.
     
    In the last two months, Premier
    Wen Jiabao and other Chinese officials have expressed growing nervousness about their country’s huge exposure to America’s financial well-being. Chinese reserves fell a record $32.6 billion in January and $1.4 billion more in February before rising $41.7 billion in March, according to figures released by the People’s Bank over the weekend. A resumption of growth in China’s reserves in March suggests, however, that confidence in that country may be reviving, and capital flight could be slowing. 

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April 14, 2009 Posted by | Economics | , | Comments Off on China Slows Purchases of US and Other Bonds

Gerald Celente – America is Turning From Free Market to Fascism!

  • How the times have changed. More Americans are having doubts about free market capitalism and say they want socialism. What they don’t realize is that the American economy has not been free market capitalism for many years. It isn’t capitalism that is at fault. It is outright corruption of the ruling class and the corporate elites.
     
  • Why force GM into bankruptcy and bailout  the banksters? America has only 3 major car companies: GM, Ford and Chrysler. But America has 8000 banks. I am not in favor of bailing out any incompetent companies. But if I have to choose to bailout somebody, it will be the car companies over banksters! You save more jobs and America really need to make things the world needs.
     
  • Gerald Celente is right. America has been taken over by corporatism. And is fast becoming a coporatist fascist state.

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April 14, 2009 Posted by | Economics, GeoPolitics | , | Comments Off on Gerald Celente – America is Turning From Free Market to Fascism!