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An America divided against itself: US debt is way past the ceiling

by Mitch Feierstein about 1 year 2 months ago

Barack Obama made a speech recently pledging his opposition to (yet another) game of chicken over America’s debt ceiling. “This is the United States of America,” he told his audience. “We’re not some banana republic. This is not a deadbeat nation. We don’t run out on our tab. We’re the world’s bedrock investment – the [...]

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What Is a Ponzi Scheme?

by Mitch Feierstein about 1 year 6 months ago

Anatomy of a Ponzi Scheme

A Ponzi Scheme applies to any investment scheme where the promoter offers crazy returns to attract investors. If you invest your money in such a scheme, you might even get it back – plus some crazy rate of interest – as long as there’s still a flood of money from new investors. But the scheme [...]

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Volcker Rule: Too Big to Enforce

by Mitch Feierstein about 1 year 7 months ago

As the initial shocks of the financial crisis of 2008-09 began to subside, policy makers – shattered by the scale and velocity of what they had just witnessed – started to think about earthquake prevention measures: how to stop the same thing happening all over again, One of the simplest, and best, such suggestions came [...]

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Wall Streets Latest Dirty Little Secret – The Fix Is In

by Mitch Feierstein about 1 year 11 months ago

At yet another select committee recently – they’ve been doing a good job – Vince Cable was grilled about the huge leap in the Royal Mail’s stock market value. As you’ll remember, the firm was floated at 330p a share and traded as high as 600p in November, a rise of 82% in a few [...]

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George Osborne was to have been a new kind of chancellor for a new kind of Britain. Instead of being an economy hooked on financial services and trading, we were going to be an economy under the stern command of business investment and export markets. Instead of government profligacy, we were going to see government [...]

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Henry Paulson. “Hank”. Remember him? Lean, balding, the flared nostrils of a man perpetually haunted by the memory of having to clean dog’s mess from the shoes of his neighbour’s children. Of the crisis in 2008, he said, “Where I come from, if someone takes a risk and they’re going to make the profit from [...]

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Mitch Feierstein Warns of Coming Financial Collapse

by Mitch Feierstein about 3 years 1 week ago

Chris Menon interviews the author of the best-selling Planet Ponzi on the housing bubble, market manipulation, gold and the subversion of democracy Monday, 16 June 2014 at 09:49 Chris Menon: In Planet Ponzi you’ve written about the huge debt bubble that was created over the past 30 years. For those who haven’t read your book, how [...]

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So, the European Commission’s President Manuel Barroso says that it would be “difficult, if not impossible” for an independent Scotland to become an automatic member of the European Union. George Osborne and (worse) his senior Treasury adviser Sir Nicholas Macpherson have ruled out any likelihood of currency union. These things were predictable, perhaps, though Alex [...]

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We must take a stand against lies, damned lies and statistical data

by Mitch Feierstein about 3 years 6 months ago

Last week, a brave police constable told a startled Parliamentary select committee that crime statistics were being artificially manipulated to keep recorded crime on its downward path. In one remarkable exchange, the committee’s chair, Bernard Jenkin, asked: “This [the police process] would finish up with trying to persuade a victim that they weren’t raped, for [...]

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Ed Miliband has a point. When this country toppled into crisis in 2007-08, it was widely feared that the financial collapse would lead to mass unemployment on a scale that dwarfed the recession of the early 1980s. And it hasn’t happened, or not quite. Yes, unemployment is really bad. Yes, the statistics are manipulated. And [...]

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