Austerity will lead to economic collapse

[contacter]

An old axiom: Marx was wrong in everything he wrote about socialism, but absolutely right in his analysis and description of capitalism. I am no communist, rather a social democrat, but i can see that the market economy has morphed into corporatism. Oligarchs rule the industrialized economies thru their political stooges of all major parties(including the British Labour Party) and the real market economy is smothered by ever incr corporate concentration.

[bestkeylar]

Stock up on a few months of whole wheat and freeze dried food if you can.

Vote Ron Paul 2012

[ZSwierczynski]

Well no shit it will have an economic collapse.

[wolftreetree]

so aid goes to the bankers, they have bo honor.

[robmcneish1]

It's the mob.



[straty01]

This is the playbook of economic 'hitmen'

[Norwification]

@madmankitchen the fact that many countries no longer produce items that now are made in china and the asian tiger countries doesnt equal a falling economy for western countries, it merely means that production shifts as a result of ricardian model of international trade. as a matter of fact its mutually beneficial for the economies on the whole, albeit possibly negative for the individuals holding unskilled jobs in production

[restlesspride666]

holy crap.

[antiphony33]

Also no incorporated co. pay tax. You pay it. When your comp. is incorporated it can only have 10% (or something like that) profit per invested capitol every year. So when the government taxes them they have to make you pay it.

[vbboyd]

yakyakyak is full of crapieola. Companies move jobs overseas for the cheap labor. Most companies in this country don't pay any taxes according to a GAO report that came out in 2006. Corporate taxes in this country have been going down for the last thirty years or so and yet the outsourcing has accelerated during the same time frame. That debunks the high taxes causing outsourcing arguement.

[n1n2n3n4100]

the lines of batle are defined,my God help the pure in Heart

[bonnevie9]

yak yak is a total idiot ........greedy evil person .......money money money is all he really cares about

[drshock18]

Austerity might lead to financial meltdown but what a lot of the keynesian fear mongers fail to see is that inflating the way out of it is called kicking the can down the road, and in doing so makes it worse. As Kyle Bass said, "how many of your problems that you put off got better for it"

[derfilmmacher]

Great analysis. Refreshingly honest. To be fair, the President has mentioned that he inherited a 1.5 trillion deficit caused by the bailout, the wars and the Bush tax cuts, but of course the globalist corporate media drowned his message as fast as possible.

[greg357159]

All true...

[yakyakyak69]

Progressive-Socialist Keynesian central planning caused unintended consequences which resulted in the world wide financial meltdowns!

Gov't spending, regulation and credit manipulation enhances the boom and bust cycles.

Friends of the crony-politicians win during the booms and we, the taxpayers suffer to pay for the crony-politician's spending binge during the busts.

Keynesianism, Fiat Currency, Central Banking and Fractional Reserves are the WMDs of the Progressive's organized crime!

[Ranger4564]

@yakyakyak69 No. It was actually the Austrian / Chicago school aesthetic of self interest above all else, that resulted in excessive greed and fraud by a large number of American corporations and financial institutions, which led to the creation of a completely fallacious multi Billion and now multi Trillion dollar economy and with the vast majority of that fake money being diverted to the most selfish, the bankers / CEO's. Worldcom, Enron, AOL, Bear Stearns, Lehman... plus liars loans.

[yakyakyak69]

@Ranger4564 WRONG!

Keynesian Central Planning caused the melt down. 1) Fed artificially Low Interest Rates & Cheap Fiat Currency, 2) Community Reinvestment Act forced lenders to lower lending standards. 3) Gov't backed Fanny & Freddy took subprime to comply with CRA 4) Wall Street took subprime mortgages because of Gov't backing and too big to fail promises from congress. 5) Meltdown happeded when subprime mortgages adjusted.

Centally Planned Failure, Keynesian Economics 101

[vbboyd]

What a bunch of lies and right wing crapola to the ma!. Firstly according to all of the emperical evidence and research done by the Federal Reserve and by US Hud most of the loans that went bad were with private mortgage lending institutions like Ameriquest and Countrywide not with fannie or freedie or the CRA. Secondly, most of the home loans going bad right now for the last 2 years or so has been with rich people defaulting on their homes because they are upside down on their mortgages.

[yakyakyak69]

@vbboyd

Private mortgage lending institutions like Ameriquest and Countrywide made subprime loans BECAUSE the GOV'T Central Planners produced a Secondary Market (Fanny & Freddie) for those bad mortgages IN EFFECT creating an environment for malinvestment produced by Crony-Corporatist Progressive Politicians like Fwank & Dodd.

ALL these loans purchased by Fanny & Freddie were IN EFFECT backed by the taxpayer and created by the CRA because "homeownership is a right" B.S.!

Keynesianism!

[yakyakyak69]

@vbboyd

You don’t understand simple supply-demand economics. Community Organizers like ObaMao pushed for the Community Reinvestment Act because "home ownership is a human right".

The CRA created the demand (market) for sub prime mortgages financially backed by the taxpayer via Fanny & Freddy. The "greedy bankers" rushed in to fill that demand & Wall Street wanted the "gov't backed" BAD paper.

Don't blame the water for rushing to fill the hole created by Progressive money pit diggers.

[yourboycal]

@yakyakyak69 it would seem like that ... they run down the hill dig the hole...then quickly run back up the hill with everyone else .. stand by them and watch the money slide down the hill into the hole . markets collapse then have the audacity to say i dunno wha happened lool. Its just one more trick in the wall street sleeve of deception

[yakyakyak69]

@yourboycal

Wall Street does NOT dig the hole. Crony Keynesian Gov't Central Planning Politicians dig the hole with regulations that benefit their special interest groups including unions (auto bailouts), banks (Wall Street bailoukts) & giant corporations with regulations which their smaller competition can't afford.

The housing bubble was created by easy Fed fiat money-credit and the community organizes pushing for the Community Reinvestment Act forcing banks to loan to bad borrowers.

[yourboycal]

@yakyakyak69 "Wall Street does NOT dig the hole. Crony Keynesian Gov't Central Planning Politicians dig the hole"

like i said ...wallstreet.

"The housing bubble was created by easy Fed fiat money-credit and the community organizes pushing for the Community Reinvestment Act forcing banks to loan to bad borrowers. "

again...wallstreet.

by wallstreet i mean international financiers they are in wall street government and public sector.... all the same shit differnt asshole =)

[yakyakyak69]

@yourboycal

NONE of this could happen without redistribution.

NONE of this could happen IF the Statists honored their OATH to the Constitution INCLUDING the 10th Amendment which LIMITS the scope and power of both the Commerce & General Welfare clauses.

NONE of this could happe without fiat Debt-Currency from the Fed.

ALL of this starts with Progressive-Socialist-Liberal Politicians with "R" & "D" after thier names.

Don't blame the pollution, blame the polluter.. Crony-Politicians

[yourboycal]

@yakyakyak69 "Don't blame the pollution, blame the polluter.. Crony-Politicians"

I do blame the polluters ...the international financiers ... that are pulling the strings in government wall street and other sectors of socity ...your just looking at the byproduct of the problem and pointing fingers im looking at the root cause =)

[yakyakyak69]

@yourboycal

Perhaps if the crony-politicians had any balls, they would END the Fed and END the unlimited Fiat Debt-Currency.

BUT, that would mean a END to never ending war on a tactic (terror) which is ONLY used by a desperate people and those who want MORE power.

BUT, ending the Fiat Currency would mean that polticians could NOT buy support from the millions who have become dependant on gov't checks, the unions & corporations (all types) who want taxpayer "investment" & global gov't..

[yourboycal]

@yakyakyak69 In your view good sir when do you think the dollar will collapse . Also whatever happened to the north american union.

[yakyakyak69]

@yourboycal

The dollar is collapsing NOW. Just look at the non-fiat alternatives including silver and gold.

The Fabian Progressives (same group that came up with the NAZI gas chamber idea and eugenics), with the Globalist Central Banks (with unlimited Fraud-Fiat Currency), and the "green" corporations like GE, BP, Rand, ect have NOT changed thier NAU plans.

They will continue to bankrupt the US to make room for global governance by the central banks, their corps & crony politicians.

[F3dB3aR]

@yakyakyak69 WRONG! AUSTERITY CAUSED THE PROBLEM!

Republicans & Libertarians have been systematically de-funding government (cutting taxes on the rich, writing corporate and bank-friendly loopholes in the US Tax Code) for years...so at the end of the day we have a HUGE PUBLIC DEFICIT.

Why have they done so, because the want to shrink gov't and privatize it's services to multi-national corporations so that the BANKING & CORPORATE CARTEL can get a better return on their INVESTMENTS! PERIOD.

[yakyakyak69]

@F3dB3aR WRONG!

Redistribution & Regulation FORCES the producers/employers to move to less costly, less regulated nations so they CAN compete in the global economy.

When taxes & regulation is increased, those manufacturers who can MOVE away DO MOVE AWAY! This CREATES unemployment and REDUCES collected taxes!

THIS is why the Soviets, N. Korea and other Socialist nations build walls to keep thier people IN.

Gov't growth & Redistribution creates NOTHING but co-dependant SLAVES!

[F3dB3aR]

@yakyakyak69 With all due respect, you must be stupid if you think REDISTRIBUTION AND REGULATION caused the problem. Silly rabbit, DEREGULATION OF OUR FINANCIAL SECTOR CAUSED THE FINANCIAL CRISIS. That fact has been well documented. What is this redistribution you are talking about? IT'S NONSENSE!!!! Citizens pay taxes and expect gov't services in return, point blank PERIOD.

Jobs have been moving overseas largely due to the tax breaks your Republicans willingly give them. KNOW YOUR HISTORY!!!

[yakyakyak69]

@F3dB3aR

Keynesian Progressive-Socialist Central Planning failure 101::

1) Community Reinvestment Act forced lenders to lower lending standards.2) Fed artificially Low Interest Rates & Cheap Fiat Currency, 3) Gov't backed Fanny & Freddy took sub prime to comply with CRA 4) Wall Street took subprime mortgages BECAUSE of Gov't backing and too big to fail promises from congress. 5) Meltdown happened when sub prime mortgages adjusted.

FACTS MATTER and so do UNINTENDED CONSEQUENCES!

[yakyakyak69]

@F3dB3aR

Jobs are moving overseas because the US has the WORLD'S second highest corporate tax rate, Because of UNLIMITED damages which enrich trial LAWYERS AND because the countless regulations which make it IMPOSSIBLE to produce goods in the US competitively WITHOUT corporate "welfare" (more redistribution).

Stop listening to the progressive-socialist college REVISIONIST "propagandists" and KNOW THE FACTS & REAL HISTORY.

Services = GOOD

REDISTRIBUTION = SLAVERY & DEPENDANCE

[louiethegreater]

The tax revenue of 40,000 manufacturing facilities outsourced to the third world is not mentioned as the primary contributer to our debt.

[virn11]

very well put- expenditure for both G-8 and G-20 countries means money for military or for bailing out the too big to fails.

[Motoicon]

Very well described in a short segment. We are at the early stages of a huge shit show....

[contacter]

@Motoicon a dramatic reordering of many of our societies is coming. I hope it is peaceful. However, our rigged electoral systems(first past the post) makes it unlikely that it will be.

[jscottupton]

The causes of the US deficit are clear...GOVERNMENT SPENDING. Yes, that includes military spending. But the BIGGEST problem is entitlement spending.

[curiousEGM]

@jscottupton Relax, Obama and Bernanke have a fat checkbook to fix this. I have never seen it this bad. We are governed by morons. New people in gov't WILL NOT repair the damage, they will merely walk into a game with preset rules and become truncated by them. This is G8-G20 territory.

[plalelal]

@jscottupton No, it's military.

[SvrchovaneCechy]

'Austerity measures' = total impoverishment of the people by the international banking cabal. Chossudovsky is on the spot.

[DisposableWarrior]

Austerity doesn't work for european countries. what works US doesn't necessarily wrok for other countries. it's just like manufacturing democracy for afghan, it doesn't work for them.

[RunsWitGuns]

so what he is saying is the G8 is lying to me stealing my money and they think we are their slaves well unfortunatley for them I still have alot of guns clickity clack rack the slide back

[OrphanPaper]

that's what politicians are best at,,, nothing ,that's why there not teachers