Tag Archives: Peonization

Globalization Is the Contagion: On the Idiocy of Interdependency

What we are witnessing today is simply the entire foisted-upon-us “interdependency” idiocy coming home to roost. To repair and reform, we need to break out of the fascist trade and banking straight-jackets and rebuild local, national and regional freedoms – all according to real democratic processes and prerogatives.

Friday 07 May 2010         TruthOut

by: Kent Welton

Were there no European union there would be no Greek crisis beyond Greece, Greece would have retained its currency and paid its price for budget problems in the value of its currency.

But the stitching together of so many diverse countries and cultures into one unit, with one currency, has presented far more problems than it has solved and, worse, has removed national and cultural liberty, sovereignty, as well as necessary freedom for tariff-based re-balancing mechanisms.

As a result, we now have synchronized global pain and ruin serving to give the banksters more opportunities to gain evermore resources and power over our lives with their out-of-thin-air private money machines.

Worst of all is exactly this private central bank contagion, in which nations have given up their rights to create their own money and credit, and without interest if they see fit. The world-wide sovereign debt problem is essentially a private central bank, debt-money, problem. It’s the interest, stupid. Its the inevitable Kondratieff wave of debt-money.

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Wall Street’s Meltdown Increased Wealth Concentration

Average Americans today aren’t hurting because the economy has stopped generating wealth. Average Americans are hurting because the wealth the economy is generating continues to cascade disproportionately to the top.

Wall Street’s Meltdown and Wealth’s Maldistribution

By Sam Pizzigati April 27, 2010

The Great Recession, new research shows, has left wealth in the United States even more concentrated at America’s economic summit.

Average American households have been riding an economic roller coaster over the last quarter century. The stock market has boomed and collapsed. Housing has boomed and collapsed. The entire economy has boomed and collapsed.

Where has this wild ride left the typical American family? Back to square one. And then back some more. The typical American household, as of mid 2009, held less in real net worth — that’s assets minus debts, adjusted for inflation — than the typical U.S. household held back in 1983.

But the even bigger story may be the reason why. New York University economist Edward Wolff tells that story in a new analysis of the Federal Reserve’s latest household wealth data research just published by the Bard College Levy Economics Institute.

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