Archives Bellaciao EN 1999-2016

It Is No Longer Safe To Invest In US

2011-08-17T12:43:53Z

The head of state-owned Chinese rating agency Dagong, Guan Jianzhong, 57, speaks to SPIEGEL about China's economic model, why he believes the rating system used by the Big Three is a threat to the world and the twilight of Western dominance.
SPIEGEL: You recently said that it would be a “catastrophe” if an American rating agency downgraded the United States' credit rating. Now that Standard and Poor's has taken that step, is the situation as bad as you imagined?
Guan: This rating on the (…)

- contributions / Economy-budget, USA

Economic Hubris - Fixing the economy: We got it wrong

2011-08-17T10:23:34Z

In early January 2009 two White House-bound economists — Christina Romer and Jared Bernstein — predicted that if the stimulus bill were passed, unemployment would peak at 8% by midyear and then start coming down. If there were no stimulus, they said, joblessness might hit 9% and not peak until 2010.
Romer and Bernstein had the risky job of hyping policy, but they weren't alone in their optimistic views. Forecasters at the Congressional Budget Office, the Federal Reserve and most private (…)

- contributions / Economy-budget, USA

INEQUALITY: Of the 1%, by the 1%, for the 1%

2011-08-15T21:14:20Z

INEQUALITY: Of the 1%, by the 1%, for the 1%
By Joseph E. Stiglitz
Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation's income—an inequality even the wealthy will come to regret.
It's no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter (…)

- contributions / Economy-budget, USA

The Evils of Unregulated Capitalism: Remedy for the US economy: end the wars

2011-08-15T18:21:20Z

The Evils of Unregulated Capitalism Remedy for the US economy: end the wars, rein in military and drug costs, and raise taxes – at least on the very rich
ef. In June 2009, the then President of the UN General Assembly Miguel d'Escoto Brockmann, and former chief World Bank economist and Nobel laureate Joseph E. Stiglitz had called together a “conference at the highest level” on the issue of the world financial and economic crisis and its impact.
This was the urgent attempt, not only not (…)

- contributions / Economy-budget, USA

Our Long National Nightmare Isn't Over, It's Just Beginning

2011-08-07T18:49:20Z

In the 1930s, the only thing we had to fear was fear, itself.
Today, the main thing we have to fear is us, ourselves.
Looking out over the horizon, I'm starting to wonder just how many shades of dark there are on the pallette. Lately, I get the feeling that we're about to find out.
I wish I could say that this society did our best to fight our demons, but that the odds were simply insurmountable. You know. Like we were just sitting there by ourselves on our remote little Pacific (…)

- contributions / Economy-budget, Governments, USA

America's Fiscal Collapse

2011-08-04T11:16:59Z

America's Fiscal Collapse
by Michel Chossudovsky Global Research, March 2, 2009
“We will rebuild, we will recover, and the United States of America will emerge stronger" ( President Barack Obama, State of the Union Address 24 Feb 2009)
"Those of us who manage the public's dollars will be held to account—to spend wisely, reform bad habits, and do our business in the light of day—because only then can we restore the vital trust between a people and their government." President Barack (…)

- contributions / Economy-budget, USA

Putin says US acting as 'parasite' on world economy

2011-08-01T15:43:12Z

Putin says US acting as 'parasite' on world economy
SELIGER, Russia — Russian Prime Minister Vladimir Putin on Monday accused the United States of acting as a "parasite" on the world economy by accumulating massive debts that threatened to shake global finance.
"The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries, and in a way acting as a parasite," Putin told a group of pro-Kremlin youth in central Russia. (…)

- contributions / Economy-budget, International, USA

The American Empire Is Bankrupt

2011-07-28T09:31:34Z

This week marks the end of the dollar's reign as the world's reserve currency. It marks the start of a terrible period of economic and political decline in the United States. And it signals the last gasp of the American imperium. That's over. It is not coming back. And what is to come will be very, very painful.
Barack Obama, and the criminal class on Wall Street, aided by a corporate media that continues to peddle fatuous gossip and trash talk as news while we endure the greatest economic (…)

- contributions / Economy-budget, USA

Balance the Budget on the Backs of Billionaires

2011-07-21T10:58:21Z

The wealthiest nation on earth is not actually obliged to starve our senior citizens. We don't need a military 670% more expensive than the next largest one on earth. We don't need to fund health insurance corporations instead of healthcare. And we don't need tax breaks for billionaires. In fact, we don't need billionaires. That's the message RootsAction is taking to Congress.
Forbes magazine has been listing the 400 wealthiest Americans every year since 1982. Thirteen billionaires (…)

- contributions / Economy-budget, USA

The truth about US debt, budget cuts and fiat currency

2011-07-07T19:07:24Z

Republican Bogus Budget BS, er, I mean "Concerns"
Disclaimer: I am not an economist and I nearly failed business math in college.
Claimer: I'm a musician but I'm above average at spotting bullshit. I'm registered as a Democrat - a fact of which I am no longer proud. And I've canvased four times for presidential candidates outside the two party system. If I lived in Ohio, however, I would vote for Kucinich. That said, I would probably vote for Ron Paul if I had to pick a candidate in (…)

- contributions / Economy-budget, USA