By David Mc Williams
So we have arrived at the day when the State has to deal with the consequences of the housing binge on the balance sheet of the ordinary person. A few years ago, people who warned this day would come were dismissed as doom-mongers. Now we see what was clear all along: the real merchants of doom were those who harassed a generation of people into debt, condemning them to negative equity and unpayable mortgages. This problem has to be fixed because the economy, burdened with such huge levels of debt, cannot grow.
It’s a simple equation. If people are paying back debt, they are not spending on other things. The economy runs on the basis that, in the aggregate, my spending is your income and your spending is my income.
Therefore, if people are not spending because they are paying back debt, everyone’s income eventually falls…………………………………………
full article at source: http://www.davidmcwilliams.ie/2013/03/14/arrears-and-the-paradox-of-aggregation
By Thomas O Cleirigh
On 23rd November 2010 this brave Irish patriot (Jim Corr) came out and warned the people of Ireland of the pearls of the engineered financial crash that our country was going through. I thought it would be interesting to once again to look at his video clip and see how things have turned out and what new information has emerged .One thing is for sure he called it exactly right, all of his warnings have turned out to be true and the sophisticated financial scam has destroyed our country and the gangsters who are continuing to carry out the will of the hidden money men are still in power.
Wake up Ireland ,we need more real patriots and true Irishmen and woman ,who will stand by the interests of our people and cast off the shackles of financial slavery imposed by corrupt politicians who are the puppets of hidden bondholders.
By the Daily Bell
The Bank for International Settlements Sunday issued an oblique endorsement of coordinated action by the world’s largest central banks to ease funding conditions for banks. “A freezing of interbank markets in major funding currencies, as during the recent crisis, may require the ability to supply official liquidity in major currencies in an elastic manner,” the BIS wrote in its regular quarterly report.” – MarketWatch
Dominant Social Theme: Inflate! And everything will work out.
Free-Market Analysis: We’ve already indicated that we believe the Anglosphere power elite is attempting to create a kind of Great Depression in order to ease the path of world government. This squib of an article in MarketWatch (excerpted above) – unnoticed by most of the mainstream press – only reconfirms our impression.
It endorses recent “coordinated” central banking loosening. But it does more: “A freezing of interbank markets in major funding currencies, as during the recent crisis, may require the ability to supply official liquidity in major currencies in an elastic manner.”
Think about that. The BIS, whatever it is, is all for printing lots of money. And the BIS is no small-time trade group. It is perhaps the most powerful (and least known) global business body in the world. Its mysteries are manifold. its workings are well-hidden.
Of course, somebody actually set up the Bank for International Settlements in the late 1930s. And since then someone has set up or helped set up about 200 central banks around the world, many of them reporting directly to the BIS.
full article at source :http://www.thedailybell.com/3339/BIS-Calls-for-Hyperinflationary-Depression
Good Morning all out there in Webland.The News from Ireland is
not great and is bordering on grim!
After the company Aviva called all its workers to a “Meeting” and after a heated presentation the workers were in effect left in limbo according to Kevin
Hough of the Galway advertiser .This is just the start as I believe we are about to see a massive rationalization of the financial industry.AIB Bank of Ireland and Irish life and Permanent not to forget the up to two thousand staff in Anglo Irish Bank still pushing papers from one end of their desks to the other all day for nothing .In case you have
forgotten all these are in fact quasi civil servants and I believe the taxpayers of the country are going to pay a heavy price to offload these now surplice to requirement staff. I
reckon we could see up to 12,500 staff layoff in the coming year from the
financial sector. Watch this space, I hear rumblings and there are getting louder!
Last week I approached the local friendly Bank manager with a prepossession
to buy a commercial building in Dublin a proposition that was self
financing .I was in a position to raise 35% of the required capital and the
rental income was netting a 12.5% return on the latest agreed lease
arrangements with the current tenant. After a promise to get back to me I
called the said manager at home last evening only to be told that the manager
could not secure the loan facility as the bank could not supply the funds .I
called to the local car dealership looking for a seven seater we are getting
rid of two cars and downsizing to one family car. Having asked how business was
going the sales person told me customers are not able to get any funds from the
banks, one well established business man was refused an 8,000 euro loan for a commercial second hand car.This is just one of many such stories I am hearing from around the town .The main roads are empty there is noticeable very little traffic on the roads and the shops are empty. Apart from the shops that have closed down there is one
good news story a new deli shop is about to open (Brave investor! see photos)I
called into a few shops and got the same story costs (rates, water charges etc)
are up and punters are as scarce as the proverbial abominable snowman ..On the
Marlton road the works are continuing at a snail’s pace but still going forward
we should have a joined up footpath by Christmas!
Well the really good news is the lottery wasn’t won and I am off to get me ticket
LONDON: A darkening euro zone economic
outlook, a shrinking interest rate advantage and scepticism over European
authorities’ ability to resolve the sovereign debt crisis have raised the risk
the euro will fall towards $1.30 before year-end.
The single currency has already broken below $1.40 — a level around which sovereign demand has been clustered — and plumbed a six-month low around $1.3790 on Friday after the European Central Bank on Thursday signalled a halt to its policy tightening.
A near 5 percent fall in the euro against the dollar in the 10 days reflects investor concern
over the stability of fiscally weak euro zone countries, including Greece and
Italy, which in turn has shaken confidence in the region’s banking system.
Full article at source: http://economictimes.indiatimes.com/markets/forex/Euro-risks-fall-to-130-as-Europe-struggles-on-debt/articleshow/9923882.cms
Anybody thinking of going into the markets now should at least take a look at this blog Reggie has been spot on now for the last 4 years I’ve been following him.
By Reggie Middleton
It has been hard for true fundamental investors to reliably make money since the bear market rally of this generation (c. 2nd quarter 2009) due to the fact that global market central planners world wide (read as central bankers and their cohorts) have been distorting price discovery and realistic valuations to an unprecedented extent. Counting the money just doesn’t work when no one truly respects and valued money but you. In essence, central bankers world wide (starting here in the US, with our central bank) have disrupted and disrespected the economic circle of life. For a detailed explanation of this happenstance, see Do Black Swans Really Matter? Not As Much as the Circle of Life, The Circle Purposely Disrupted By Multiple Central Banks Worldwide!!! But….. Those very same central bankers/central planners have to juggle many, too many, balls in order to keep this charade afloat. Yes, sink this charade will – and when it does, it will probably look very ugly. Now, its a timing game. As the title inquires…
source and full article here :http://boombustblog.com/BoomBustBlog/What-Happens-When-That-Juggler-Gets-Clumsy.html
Sent in to us this morning
America‘s true reason for intervention, and missile attacks against
Libya has become very clear today with a sudden creation by the rebels of a new
central bank on March 29th.
The rebels in Libya are in the middle of a life or death civil war and Moammar
Gadhafi is still in power and yet somehow the Libyan rebels have had enough
time to establish a new Central Bank of Libya and form a new national oil
company. Perhaps when this conflict is over those rebels can become time
management consultants. They sure do get a lot done. What a skilled bunch of
rebels – they can fight a war during the day and draw up a new central bank and
a new national oil company at night without any outside help whatsoever. If
only the rest of us were so versatile! But isn’t forming a central bank
something that could be done after the civil war is over? According to
Bloomberg, the Transitional National Council has “designated the Central
Bank of Benghazi as a monetary authority competent in monetary policies in
Libya and the appointment of a governor to the Central Bank of Libya, with a
temporary headquarters in Benghazi.” – The Economic Collapse via Uruknet
Continue reading on Examiner.com America’s true reason for attacking Libya becomes
clear with new central bank – National Finance Examiner | Examiner.com
I don’t find myself in agreement with the general thrust of this article but I do respect the
possibility of some truth in it as we all know that America always looks out for itself and its interests first. Just look over at Bahrain and Saudi Arabia the democracy movement was crushed and Saudi Arabian forces invaded Bahrain and nobody in the west said anything indeed the news media just went silent. There are still reports seeping out about torture and summary executions and the world media are ignoring these reports why because Saudi Arabia in the American sphere of interest and is a no go area for the established media that is mostly controlled by American interests !
Take a look of a simple for the actions of the government in this country