What is truth?

Posts tagged ‘financial crisis’

David Mc Williams on Pat Kenny

Here is an excellent commentary  by David Mc Williams on the current financial crises in europe .I find myself in agreement with most of his analyzes .His assertion that the answer to deflation is inflation and his knowledge of current German ideoligy is spot on as I am living here among them I can confirm that is what I am hearing from many Germans I talk to here in Lubeck

My own belief is we need a Financial Marshall plan for Europe

see :http://en.wikipedia.org/wiki/Marshall_Plan

also :

.

Pod cast here

Original audio source (pod-v-12061220m25spkmcwilliams-pid0-1225368_audio.mp3)

Now IMF Seeks Collective, World Bail-Out of Europe

IMF wants the world to save Europe … Christine Lagarde, the managing director of the IMF, said the escalating crisis now needed to be addressed as “collectively as possible” … The European financial crisis is “escalating” and is so serious that it is unlikely to be solved by eurozone countries alone, the head of the International Monetary Fund warned Thursday night. British taxpayers are now likely to be involved in an internationally co-ordinated bail-out led by the International Monetary Fund [IMF] for countries in the single currency. Christine Lagarde, the managing director of the IMF, said the escalating crisis now needed to be addressed as “collectively as possible”. Without action, the world faces the spectre of a 1930s-style depression, she said. – Montreal Gazette/UK Telegraph

full article at source:http://www.thedailybell.com/3356/Out-of-Chaos-Order-Now-IMF-Seeks-Collective-World-Bail-Out-of-Europe

daily diversion comes from German government advisor Bofinger

 

Listening to this audio clip I am spurred into posting this response.

The markets are not impressed with the half hared attempt to deal with the financial crises in Europe. This secret meeting of which our new Finance minister was not invited says it all. Apparently there is now, plain for all to see, a two tier euro area and we in Ireland are in the dunces class .The waffle coming from Edna and the boys in the cabinet is just that, we can expect them to do a great song and dance when the interest reduction on our bailout funds is eventually announced and I expect no real admission to the real problem, we  just cannot afford this long drawn out saga ,I almost said a Greek tragedy but I don’t want to be unkind to them they have enough problems and frankly I believe we are in a worse situation. Without facing up to the dire financial situation we are in now I believe he is favouring the state employee over the best interest of the Irish nation. Kenny , along with his colleagues will eventually pay a very heavy price and personally I believe we could see blood on the streets if there is no movement on equal sharing of the imposed financial burden currently resting exclusively  on the shoulders of the lower ranks of the public service, the private sector and  the most vulnerable of all in our society the unemployed !

The rest of the world is telling us what Lenihan wont!

Listen to Brian lenihan still in denial now      [

Irish economic crisis – made simple

Smart economy or vacuum economy?How to boost the economyAftermath of Taoiseach‘s interviewCall for one-day boycott of MassA champion for the nationTesting for radon gas
Madam, – Please be patient with my query as I do not have the financial education of Brian Lenihan, Brian Cowen or even the Keynesian brain of a Jim Power. I am just a simple, uneducated, working-class soul. Can you please explain the following?

Our banks borrowed huge sums of money from gamblers and investors on the money markets. The banks then loaned this money to Irish gamblers and investors. When it turned out that the Irish gamblers and investors couldn’t pay back the money they got from the banks, and therefore the banks couldn’t repay the gamblers and investors on the money markets, the Irish Government decided that the taxpayer needed to pay this money back to avoid upsetting the international gamblers and investors.

Now Ireland is deeply in debt thanks to the Government’s generosity. So, now the Irish Government needs to go back to the international market’s gamblers and investors to borrow more money to shore up our financial ability to run the country. These same gamblers and investors now see Ireland as a lending risk, so they charge us almost twice as much to borrow back the money that we just returned to them.

The market’s gamblers and investors, happy with their unexpected windfall, will sell on Irish debt as default products, therefore betting that Ireland will be unable to pay back this money. The gambler and the investor get paid twice, while the public services of the Irish taxpayer are decimated to keep Mr Gambler in jet fuel.

I am quite willing to be made a fool of. I would just like to know if this is the complicated truth.

– Yours, etc,

DARREN WILLIAMS, Blackglen Road, Sandyford, Dublin 18.

The RIEGEL:

       by

Christopher M. Quigley

B.Sc., M.M.I.I. Grad., M.A.

 

 

 

MORALS MATTER. The financial crisis currently unfolding in America and Western

Europe will eventually morph into a social and political crisis unless the Federal

Reserve’s option of endlessly inflating the dollar is re-evaluated and stopped. The

powers that be must realise that their monetary policy is regressive and socially flawed.

The systematic destruction of the buying power of the green back through fiat fantasy

is preventing businessmen and entrepreneurs from obtaining real information

concerning the needs and wants of the real economy. A proper functioning money unit is

the antennae of true demand and supply and because of government interference false

impulses are being generated throughout the economy and as a result incorrect

economic decisions are being made; ergo the “sub-prime” and real-estate crises.

full article in PDF The_Riegel_A_New_World_Monetary_Unit

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