We celebrate 1000 episodes with special guests Steve Keen and Jim Rickards. We discuss how the meme wars began and where that war goes. We look at how the show began with the Obama administration and ripens into its 1000th episode in his last year having made The List.
We go on the road, in a golf cart, to talk models – macroeconomic models and how changing the model can magically make debt appear more attractive. We look at failed models like health care and the economics of ‘draining the swamp.’
We discuss how Obama’s legacy lost the election for Hillary, and why lobbyists have no idea how to work with the Trump administration. They also talk to viral YouTube stars, Diamond and Silk, to find out why they backed Trump.
Judging by the mainstream media, the most pressing problems facing capitalism are 1) income inequality, the basis of Thomas Piketty’s bestseller Capital in the Twenty First Century, and 2) the failure of laissez-faire markets to regulate their excesses, a common critique encapsulated by Paul Craig Roberts’ recent book and 2) the failure of laissez-faire markets to regulate their excesses, a common critique encapsulated by Paul Craig Roberts’ recent book The Failure of Laissez Faire Capitalism.
This article is primarily written for all my readers who are either Trump supporters, or who reluctantly voted for him. My message to you is that we need to hold this man’s feet to the fire. The election is over, and you got your desired outcome. Now is not the time to be a cheerleader. Now is not the time to behave exactly like Obama zombies did after he became an obvious betrayal. What allowed Obama to do all the bad things he did, was the fact that his supporters made endless excuses for him. Don’t make excuses for Trump. If you do, your life will get a lot worse and this country will decay far more into an authoritarian oligarchy than it already has. It is up to you to make sure he doesn’t become the Wall Street puppet I always feared he would be.
McConnell’s ties to the Chaos go back to the late 1980s, when James Chao began donating to the senator. In 1993, McConnell married James’s daughter, Elaine Chao, a Republican activist and then-former Reagan administration official who would later serve as Secretary of Labor in the George W. Bush cabinet. James Chao emigrated to the United States from Taiwan, and founded the Foremost Maritime Corporation upon settling in New York. The company has grown significantly over the years, from acting as maritime agent during the Vietnam War to controlling a fleet of approximately 16 dry bulk cargo ships in operation today.
The recent seizure of cocaine on a Foremost coal ship came as authorities in Colombia have stepped up anti-drug trafficking enforcement in the region. The Nation spoke to Luis Gonzales, an official with the Colombian Coast Guard in Santa Marta, who told us that the Ping May’s crew were questioned as part of an ongoing investigation, but that no charges have yet been filed. His team found the cocaine in forty separate packages.
The Republican Senate minority leader’s personal wealth grew seven-fold over the last ten years thanks in large part to a gift given to him and his wife in 2008 from James Chao worth between $5 million and $25 million…
For those of you who follow anything to do with blockchain and blockchain technology, you will know that the space has had its ups and downs in the last couple of weeks.
The exciting news is that two major players in the gold market, the Royal Mint and CME Group have announced a blockchain-backed gold project, and the surprising news is that the R3CEV consortium is apparently under threat.
Making a mint on the blockchain
The Royal Mint and CME Group have announced that they are working on a blockchain project together. The project will see the creation of Royal Mint Gold (RMG) digital tokens which will each be backed by 1g gold.
No intelligent government should impair the right of free speech to placate people who falsely claim they are victims when often they are, in fact, aggressors.
To the 57 members of the Organization of Islamic Cooperation, however, all human rights must first be based on Islamic religious law, Sharia: whatever is inside Sharia is a human right, whatever is outside Sharia is not a human right.
‘The gamblin’ man is rich and the workin’ man is poor and I aint got no home in this world anymore‘ …. goes Woodie Guthrie’s famous song from the Asch recordings of 1944. Today this song is being sung in the hearts of countless families made homeless by bankster/vulture fund aggression laid at their doors. As deadly a blow as any against the wellbeing of human beings. Vulture funds like Cerberus, who have had super discounted, sugar coated, sweetheart deals from Ireland’s NAMA (National Assets Management Agency) do not care about your or anybody else’s life. They are happy to take the roof from over your head and turn quick profits.
Cerberus, the US vulture fund that bought Nama’s Northern Ireland loans, paid less than €1,900 tax on the €77 million profit it earned from the assets last year, newly published figures show….Company structured business in Ireland in order to benefit from section 110 tax break
The death of a homeless man, ironically by the shopping trollies, at a mall in Co. Louth ,while Irish law makes taxation optional for the 1% and legally allows government agencies make rubbish real estate deals on behalf of Irish citizens, points up just where our elected representatives loyalties lie. Time that the Irish electorate woke up!
Fresh news out of India’s crytocurrency scene shows that Unocoin has developed and launched a mobile application for its users. Unocoin is one of the leading Bitcoin exchanges in India – the startup provides …
Do you remember when you were a kid? There was no such thing as extra money…. there was never enough of the stuff! However, as we grow older, we start to realize the real meaning of extra money. This is money that’s left over after the bills are paid and spending money is budgeted in. It’s the money that we use to save for retirement or pay off debt. The problem is figuring out which to focus on first! Today, we’ll talk about whether it’s better to pay off debt or invest in your retirement first.
Understanding Opportunity Cost
At the end of the day, just about everything comes with an opportunity cost. When you spend the time or money doing something, that time or money could have been used elsewhere. The difference in the reward is your opportunity cost. This is a big part of choosing whether you’re going to pay off debt or invest with your extra money. Read more ›
The fact that Steve Mnuchin was a Goldman Sachs partner is the least of my concerns when it comes to the man. Indeed, if someone wanted to create a playing card deck of sleazy Wall Street financial crisis opportunists, it’d be hard not to include Steve Mnuchin.
What exactly am I talking about? Specifically, I’m referring to the collapse of IndyMac (renamed One West), and the generous helping of government welfare Mnuchin and his partners received upon purchasing the failed banking institution. This is a financial crisis saga that is unknown to most, despite having received some extensive coverage over the past year.
Ulster Bank Parent RBS Fails Bank of England Stress Test
“Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year’s Bank of England stress test, which warned of a “challenging” outlook for Britain’s financial system.
The state-backed lender rushed out a statement following the announcement to say it would take a range of actions, including selling off bad loans and cutting costs to make up the capital shortfall identified by the tests of around 2 billion pounds.
The unexpected result underlines the litany of problems RBS is grappling with, which include a mounting legal bill for misconduct ahead of the 2008 financial crisis and difficulties selling off assets such as its Williams & Glyn banking business.
The lender said it had agreed a plan of action with the Prudential Regulation Authority, the Bank of England’s enforcement arm, that should mean it does not have to tap markets to raise the money needed.” From Reuters
We warned of the RBS, Ulster Bank ‘£100 Billion Black Hole’ and the bail-in risk due to the ‘danger of failing’ in June 2014 here
Bail-ins can now be used in the UK, EU, U.S. and G20 countries. Banks internationally and especially in Europe remain vulnerable. See full post here…