(Infowars) – The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”
As John Williams (shadowstats.com) has made clear on many occasions, an appearance of recovery was created by over-counting employment and undercounting inflation. Warnings by Williams, Gerald Celente, and myself have gone unheeded, but our warnings recently had echoes from Boston University professor Laurence Kotlikoff and from David Stockman, who excoriated the Republican Party for becoming big-spending Democrats Continue reading →
Alex talks with economist Paul Craig Roberts about his article, The Year America Dissolved. Roberts served as an Assistant Secretary of the Treasury in the Reagan Administration and is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. His articles appear widely across the alternative media. Dr. Roberts’ latest book is How the Economy Was Lost: The War of the Worlds. Continue reading →
(SteveWatson) – Several more autocratic international voices have added their weight behind proposals to vastly empower the EU with greater authority to govern over nation states in Europe, in the wake of the sovereign debt crisis. Meanwhile, one leading commentator has described the move as “fiscal fascism”. Continue reading →
(ZeroHedge) – It couldn’t have happened to a nicer country. On March 18, with very little pomp and circumstance, president Obama passed the most recent stimulus act, the $17.5 billion Hiring Incentives to Restore Employment Act (H.R. 2487), brilliantly goalseeked by the administration’s millionaire cronies to abbreviate as HIRE. As it was merely the latest in an endless stream of acts destined to expand the government payroll to infinity, nobody cared about it, or actually read it. Because if anyone had read it, the act would have been known as the Capital Controls Act, as one of the lesser, but infinitely more important provisions on page 27, known as Offset Provisions – Subtitle A—Foreign Account Tax Compliance, institutes just that. In brief, the Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the US Treasury) but also disclose the full details of non-exempt account-holders to the US and the IRS. And should this provision be deemed illegal by a given foreign nation’s domestic laws (think Switzerland), well the foreign financial institution is required to close the account. It’s the law. If you thought you could move your capital to the non-sequestration safety of non-US financial institutions, sorry you lose – the law now says so. Capital Controls are now here and are now fully enforced by the law.
Let’s parse through the just passed law, which has been mentioned by exactly zero mainstream media outlets.
(GaryFranchi) – Historic Bailout Trial 3/11/10 with opening arguments by Bob Schulz of the We the People Foundation will commence tomorrow. All patriots are needed to attend to witness and document this case. The constitutionality of the robbery of the Treasury of the United States by the criminal Wall Street Bankers hangs in the balance. SPREAD THE WORD! Continue reading →
(AaronDykes) – Treasury Secretary Tim Geithner made an appearance alongside IRS Commissioner Doug Shulman at the Joe Stack crash site in Austin, Texas. Their purpose was straightforward– to grandstand over an attack on a government agency and to set the scene for demonizing “anti-government beliefs.” Continue reading →
Alex welcomes back to the show Paul Craig Roberts, economist and a nationally syndicated columnist who served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the “Father of Reaganomics.” He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. Roberts is the author of The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice, and How the Economy Was Lost: The War of the Worlds. Continue reading →