Moyers & Company Show 102: On Crony Capitalism from BillMoyers.com on Vimeo.
Where is John Galt?
Wednesday, January 25, 2012
The Devolution of Capitalism
David Stockman's days with Ronald Reagan - and his ringside seat since then, gives him the street cred to comment on what went wrong. From the Mexican Peso crisis, to LTCM, to the GFC of 2007, Stockman sits down with Bill Moyers to talk about what's wrong with America. A former Congressman from Illinois, Stockman served as the Director of the OMB (Office of Management and Budget - the President's chief advisor for the White House) for Ronald Reagan in 1981, when the deficit was less than $1T. When he left, four years later, the national debt was just over $2T. Stockman left the Reagan administration after he was criticised for his comments in an Atlantic Monthly article. His book: The Triumph of Politics: Why the Reagan Revolution Failed (ISBN 0060155604)was critical of his time in the White House.
His lengthy interview with Bill Moyers is a serious critique of the Obama Administration. He credits Obama's about face after the election with providing him the impetus to work begin a new book: The Triumph of Crony Capitalism.
Economystified: GDP
Economystified: GDP: How do you measure something that has no physical dimensions? Can a child tell you he has 3 more units of love per hour for th...
Wednesday, December 28, 2011
The Big Lie - The Daily Beast
The Big Lie - The Daily Beast
Michael Thomas writes beautiful prose. His description of the violence that will follow the soon-to-be uprising will be a spendid rebuttal to more than 30 years of greed and graft. Recently, I watched a wonderful BBC series about the great writers of the Romantic period. William Wordsworth went to Paris to witness the French Revolution first-hand. The relentless bloodletting got to him and he fled back to England. When I peel back the layers of bankers, lobbyists, politicians, and media who participated in the raping of the world, I can understand the need for the wet work. I expect when the killing starts it will be very bad indeed, only stopping after tellers and security guards litter the tops of the piles.
Michael Thomas writes beautiful prose. His description of the violence that will follow the soon-to-be uprising will be a spendid rebuttal to more than 30 years of greed and graft. Recently, I watched a wonderful BBC series about the great writers of the Romantic period. William Wordsworth went to Paris to witness the French Revolution first-hand. The relentless bloodletting got to him and he fled back to England. When I peel back the layers of bankers, lobbyists, politicians, and media who participated in the raping of the world, I can understand the need for the wet work. I expect when the killing starts it will be very bad indeed, only stopping after tellers and security guards litter the tops of the piles.
Monday, December 26, 2011
Tuesday, December 20, 2011
Monday, December 19, 2011
Currency Wars
Author Jim Rickards discusses the opening salvos of what he says is a global currency war. The Federal Reserve has extended currency swaps to the EU. The ECB cannot devalue the Euro without constitutional change in each of the 23 countries to allow it. In the meantime, Bernanke continues to print -- to provide the IMF with US$ in return for SDR's -- that in effect, the Federal Reserve is 'shorting' the US dollar.
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