Socio-Economics History Blog

Socio-Economics & History Commentary

CrossTalk on Climate: Dopenhagen?

  • Piers Corbyn of Weather Action is telling the truth. The other 2 are either brain washed or outright lying! Man made global warming is a massive hoax for world government and implementation of an oppressive tax. It is a bankster scam to make money off the sheeple. The vast number of climate scientists do not agree with man made global warming. The fact of the matter is this: other planets in the solar system are also warming up in the past few decades. The reason is the sun!
     
  • The idea that rising CO2 is bad for the environment is also nonsense. Plants need CO2 to survive. More CO2 in the air will help agriculture. The main green house gas is not CO2. It is water vapour! In pre-historic times the earth was tropical or semi tropical. We had a million fold more plants and animal life forms. Do you really believe large plant-eating dinosaurs can survive in a temperate climate? Do you believe that the T-Rex which feeds on many plant dinosaurs can survive in a temperate climate? Obviously not! Global warming will in fact make more land mass useable for agriculture.

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December 16, 2009 Posted by | Science & Technology, Social Trends | | Comments Off on CrossTalk on Climate: Dopenhagen?

Max Keiser: Greedy Bankers Caused This Financial Crisis!

December 16, 2009 Posted by | Economics | , , , , , , , | Comments Off on Max Keiser: Greedy Bankers Caused This Financial Crisis!

US Needs To Tame Debt Soon Or Face Possible Panic In Financial Markets!

  • The fact remains: all the actions thus far taken will cause the collapse of the USD! There is, in my opinion, a deliberate but hidden plan to debase the USD. There is no intention on the part of the Obama administration to rein in the debt beast. Much rather, steps taken will increase the likelihood of default! Reuters reports:
      
    The U.S. government must craft a plan next year to get its ballooning debt under control or face possible panic in financial markets, a bipartisan panel of budget experts said in a report on Monday. Though the government should hold off on immediate tax hikes and spending cuts to avoid harming the fragile economic recovery, it will need to make such painful changes by 2012 in order to keep debt at a manageable 60 percent of GDP by 2018, according to the Peterson-Pew Commission on Budget Reform.
     
    Without action, investors could lose confidence in the United States, driving down the dollar and forcing up interest rates, said the former lawmakers and budget officials who crafted the report. That could cause a sharp decrease in the country’s standard of living. “We will be less free if we don’t tackle this,” said Jim Nussle, a Republican member of the commission who earlier served as a White House budget director and chairman of the budget committee in the U.S. House of Representatives. The 34-member commission published its report as Congress was poised to raise the debt limit from its current $12.1 trillion level to allow the government to continue operating.
     
    The national debt has more than doubled since 2001, thanks to the worst recession since the 1930s, several rounds of tax cuts and wars in Iraq and Afghanistan. A looming wave of retirements over the coming decade is expected to make the situation worse. The national debt currently accounts for 53 percent of GDP, up from 41 percent a year ago. That’s likely to rise to 85 percent of GDP by 2018 and 200 percent of GDP by 2038 unless dramatic changes are made, the commission said.
      …….
    The United States must act to ensure that it does not join Dubai, Greece, and other countries that risk losing the confidence of investors, the commission said. “It’s imperative that we take action before the financial markets force us to,” said Douglas Holtz-Eakin, a former Congressional Budget Office director who advised Republican John McCain’s presidential campaign last year.

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December 16, 2009 Posted by | Economics | , , , , , , , | Comments Off on US Needs To Tame Debt Soon Or Face Possible Panic In Financial Markets!

The Revolt Has Begun: Greece Defies Europe as EMU Crisis Turns Deadly Serious!

  • Iceland went bust, followed by Ireland, Dubai and now Greece. We are hearing ever more loudly of more sovereign debt defaults. Spain and the Baltics may be next. This is putting alot of stress on the European Monetary Union(EMU). Consequently, the Euro has been under severe distress for the past week. I do not believe the Euro will survive. It is slightly better than the British pound and the USD. But not by much. It is after all a forced artificial marriage of many countries. Many like Greece will be contemplating a divorce !
     
  • The Japanese Yen is also rather iffy. Japanese sovereign debts are way beyond 100% of GDP. The only positive is that the government owes its own people the money. If you think about it, it is ridiculous. The government owes its citizens money and can only pay back by taxing its citizens. So effectively, GMan owes Japanese citizens money and wants the citizens to pay it back!
     
  • The world is heading towards a monetary crisis. All major currencies are revealed for what they truly are: Monopoly money! Why would any sane person accept fiat ‘Monopoly’ currencies rather than gold? The sheeple are still asleep. When they awake, there will be a stampede to gold. The 3rd phase of the gold bull will begin! 
     
    Euroland’s revolt has begun. Greece has become the first country on the distressed fringes of Europe’s monetary union to defy Brussels and reject the Dark Age leech-cure of wage deflation.
      
    While premier George Papandreou offered pro forma assurances at Friday’s EU summit that Greece would not default on its €298bn (£268bn) debt, his words to reporters afterwards had a different flavour. “Salaried workers will not pay for this situation: we will not proceed with wage freezes or cuts. We did not come to power to tear down the social state,” he said.
      ….
    Mr Papandreou has good reason to throw the gauntlet at Europe’s feet. Greece is being told to adopt an IMF-style austerity package, without the devaluation so central to IMF plans. The prescription is ruinous and patently self-defeating. Public debt is already 113pc of GDP. The Commission says it will reach 125pc by late 2010. It may top 140pc by 2012.
     
    If Greece were to impose the draconian pay cuts under way in Ireland (5pc for lower state workers, rising to 20pc for bosses), it would deepen depression and cause tax revenues to collapse further. It is already too late for such crude policies. Greece is past the tipping point of a compound debt spiral.
     
    Ireland may just pull it off. It starts with lower debt. It has flexible labour markets, and has shown a Scandinavian discipline. Mr Papandreou faces circumstances more akin to those of Argentine leaders in 2001, when they tried to cut wages in the mistaken belief that ditching the dollar-peg would prove calamitous. Buenos Aires erupted in riots. The police lost control, killing 27 people. President De la Rua was rescued from the Casa Rosada by an air force helicopter. The peg collapsed, setting in train the biggest sovereign default in history.
     
    Economists waited for the sky to fall. It refused to do so. Argentina achieved Chinese growth for half a decade: 8.8pc in 2003, 9pc in 2004, 9.2pc in 2005, 8.5pc in 2006, and 8.7pc in 2007. London bankers were soon lining up to lend money (our pension funds?) to the Argentine state – despite the 70pc haircut suffered by earlier creditors.
      
    In theory, Greece could do the same: restore its currency, devalue, pass a law switching internal euro debt into drachmas, and “restructure” foreign contracts. This is the “kitchen-sink” option. Such action would allow Greece to break out of its death loop. Bondholders would scream, but then they should have delved deeper into the inner workings of EMU. RBS said the UK and Ireland have most exposure, with 23pc of Greek debt between them (mostly for global clients). The French hold 11pc, Italians 6pc.
     
    Remember, Athens holds the whip hand over Brussels, not the other way round. Greek exit from EMU would be dangerous. Quite apart from the instant contagion effects across Club Med and Eastern Europe, it would puncture the aura of manifest destiny that has driven EU integration for half a century. I don’t wish to suggest that Mr Papandreou – an EU insider – is thinking in quite such terms. Full membership of the EU system is imperative for a country dangling off the bottom of Balkans, all too close to its Seljuk nemesis. But Mr Papandreou cannot comply with the EU’s deflation diktat.
     
    No doubt, EU institutions will rustle up a rescue. RBS says action by the European Central Bank may be “days away”. While the ECB may not bail out states, it may buy Greek bonds in the open market. EU states may club together to keep Greece afloat with loans for a while. That solves nothing. It increases Greece’s debt, drawing out the agony. What Greece needs – unless it leaves EMU – is a permanent subsidy from the North. Spain and Portugal will need help too.
     
    The danger point for Greece will come when the Pfennig drops in Berlin that EMU divergence between North and South
    has widened to such a point that the system will break up unless: either Germany tolerates inflation of 4pc or 5pc to prevent Club Med tipping into debt deflation; or it pays welfare transfers to the South (not loans) equal to East German subsidies after reunification. Before we blame Greece for making a hash of the euro, let us not forget how we got here. EMU lured Club Med into a trap. Interest rates were too low for Greece, Portugal, Spain, and Ireland, causing them all to be engulfed in a destructive property and wage boom.
     
    The ECB was complicit. It breached its inflation and M3 money target repeatedly in order to nurse Germany through slump. ECB rates were 2pc until December 2005. This was poison for overheating Southern states. The deeper truth that few in Euroland are willing to discuss is that EMU is inherently dysfunctional – for Greece, for Germany, for everybody.

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December 16, 2009 Posted by | Economics | , , , , , , , , | 2 Comments

ClimateGate: The Ailing ‘MainStream’ Media Are Committing Suicide By Ignoring The Scoop of The Century!

  • Yes, more and more people are waking up to the fact that the MSM is not an independent voice. The owners of the western MSM are the Illuminati banksters who also own the governments, large industrial corporations, Big Pharma and the military industrial complex. The role of the MSM is really entertainment and the marketing/sales of products, services, corporate agendas, propaganda and government brainwashing propaganda. It is used frequently to influence the sheeple to tell them what to believe, to promote fraudulent wars as just and to utterly brainwash the masses. We have the Nobel ‘Peace’ prize winner Obama justifying wars in his acceptance speech! What crock and propaganda! The Telegraph UK writes:
     
    Climategate is a global household name. No cat has ever emancipated itself more completely from the bag. It is a world-wide scandal – thanks to the internet. Yet, as its ramifications proliferate and dominoes continue to fall, the most repeatedly asked question online is: how can the mainstream media ignore this? Well, we know the answer to that: the MSM are in thrall to the leftist consensus. End of story. But let me pose a follow-up question that may be becoming more imminently relevant.
     
    Are the mainstream media capable of surviving their sidelining of the number one global scoop? Are they finally committing suicide? Are they, in fact, any longer mainstream? Every historian knows that any significant trend in society will show warning symptoms over a long period; but the final catastrophe will usually be triggered by a single event. For the moribund MSM that decisive blunder may well be Climategate.
     
    Another feature of any doomed institution is that it signals its imminent demise by behaving in a manner that is contrary to its nature and purpose. Every city in the developed world contains news rooms in which cringing journalists struggle to satisfy the imperative demands of editors for a scoop. Yet the obvious scoop – the BIG ONE of journalistic mythology – is consigned to the waste basket. This is the journalism of Isvestia and Pravda, with all the commercial viability that attached to that school of news reporting.
     
    The dead-tree press is already on the critical list. In the United States, in the six months to 31 March this year, newspaper circulation slumped by 7 per cent, according to the US Audit Bureau of Circulations. This was a steeper decline than in the two previous recorded periods (you can reasonably attribute that to the vomit-inducing idolatry of Barack Obama that permeated the American press at that time). In the UK the comparable figure was 5 per cent. How many businesses do you know that record such declines, in an unreversed trend, and survive?
     
    The BBC – or, to give the Corporation its proper name, British state television – is on a multi-billion pound life support system, thanks to the licence fee extortion racket by which it acts as gatekeeper to 200 other television channels by charging £142.50 a year to viewers, the majority of whom do not want to watch its programmes. The BBC’s own report to the Department of Culture, Media and Sport in 2005 revealed that, if the licence fee were abolished, 58 per cent of viewers (14 million households) would opt out of all BBC television, leaving the Corporation with a paltry £1.2bn in revenue.
     
    That is the despised organisation that relentlessly inflicts climate alarmist propaganda, fairy tales, “bedtime stories” on the British public, in the style of Radio Moscow, circa 1954 (“Implement the resolutions of the 23rd Congress…” “We have 27 minutes to save the polar bears from melting…”). No intelligent or inquiring individual believes, respects or trusts the BBC. Ditto the print media that is similarly spewing out Al Gore’s trashy superstition.
     
    So, instead of proving its worth, serving truth and debate, arresting the attention of the public by exposing our rulers’ lies, the MSM are rolling over to become a mouthpiece of the consensus, repelling readers and viewers as they go online, just as citizens in Iron Curtain countries once tuned in covertly to Western media. The internet is the new samizdat. All of this may still be a relatively gradual process while all citizens are being deprived of is information and debate. But when the bill is presented to sustain the phoney religion consecrated at Copenhagen, when taxes rocket, when we can barely see by the light of mercury bulbs, when every amenity of life is threatened – will people still be willing to pay money for newspapers and television channels that tell them to submit to this tyranny, when they could be exploding the myth and freeing society?
     
    It seems less than likely. The Mainstream Media are hanging themselves – it is doubtful that they can any longer be described as mainstream. These are turkeys voting for Christmas.

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December 16, 2009 Posted by | Social Trends | | 4 Comments

ClimateGate: The Fraud of Global Warming and Climate Change!

December 16, 2009 Posted by | Science & Technology, Social Trends | | 3 Comments

ClimateGate: Cap and Trade, Who Benefits From the Big Money?

  • Every single human being on earth produces CO2, so we will all be taxed. This is pure BS. We will be taxed for being human beings and not get anything in return. What exactly is a carbon credit? It is nothing, not even hot air! This is what the Illuminati bankster plan for humanity. It is a system of global enslavement and will make life barely survival for many in third world countries. This is the planned destruction of the middle class and ultimately: a master ruling class and slave class. See: Shocking 1991 UN Policy Paper Describes the Exact Purpose and Trajectory of Current Copenhagen Treaty
     
    This is the word- Agenda 21: the UN strategy for redistributing the wealth accumulated by the “North” in order to create a completely “balanced” world society- under auspices of the United Nations of course and the private central banks controlling it. This can only come about by destroying the middle-class. A sudden redistribution and industrialization would not do- for the middle-class would undoubtedly rise in defiance against it. Therefore, Sachs argues for an incremental and carefully planned dissolution of the middle-class phase by phase….
     
  • Food prices will rocket! Cows which produce an enormous amount of greenhouse gas: methane (because they fart methane) will be taxed sky-high. So beef prices will rocket! Make no mistake about it: it is the rise of the global fascist government run by Illuminati banksters and their industrial corporations and military industrial complex. If Copenhagen collapses which is a distinct possibility, the banksters will resort to war on a global scale. They have done this in the past. Through WW2, they got their League of Nations. They got their United Nations via WW2. Don’t be surprised to see WW3 and the subsequent arrival of UN 2.0 or as some term it: League of Democracies.

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December 16, 2009 Posted by | Social Trends | , | 3 Comments