Letters to the Editor
mmckinl
Published Letters: 170 Editor's Choice: 16
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And the Common Thread for the Implosion of Empire ?
[Read the article: The decline and fall of the American empire of debt]
[Read more letters about this article: Here]Outsourcing , War ... Spain, The Dutch and England all outsourced their productive economy and adopted the financial economy. How did they do this? Many Wars and free trade while heavily borrowing from their private European Banks to enrich the bankers.
Sound familiar ?
This is why we we need to get of the fractional banking treadmill of geometrically increasing debt. Fractional Reserve Banking is actually a fancy name for leveraged debt money creation. In practical terms that means the system needs more and more debt to satisfy the appetite of the ever growing principle and interest payments. A debt spiral that only a financial crisis can cure, through a systemwide bankruptcy leaving a smoldering shambles behind.
This is why we need a public central bank. We need a bank that creates money without the use of geometric debt accumulation so that in times of crisis the credit system doesn't implode. Indeed why is it that We the People of the United States have to borrow our own money to spend it ? That's right, Congress appropriates money, an IOU is sent to the Federal Reserve and they then give it to the Treasury to spend. Why isn't the money appropriated directly to the Treasury to spend ? The Federal Reserve Act of 1913 which has given the private bankers a piece of every bit of business that our government does, the largest welfare program the world has ever seen ! ! !
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What Elizabeth Wareen says :
[Read the article: The American way of debt]
[Read more letters about this article: Here]The Coming Collapse of the Middle Class
http://www.youtube.com/watch?v=akVL7QY0S8A
All in all it is about the dearth of disposable income and the fragility of families due to health problems, loss of a job or divorce ...
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Personality Politics Are All That's Left !
[Read the article: Media hypocrites love personality politics]
[Read more letters about this article: Here]Just about every issue facing America today will step on the toes of some big protected lobby. Defence Budgets, Pharmaceutical advertising or calls for price bargaining, Single Payer or Medicare, Trade , and many more, take your pick ... all protected interests.
What better way to stay in your overpaid position, being invited to all the right parties, getting accces, getting ratings and all with little or no effort!
The best way to protest is to walk. Let Media Matters watch all this crap. Why the Democrats subject themselves to this Bull Shit I don't know. We should be like the Republicans, decrying the bereft conservative media, just like Greenwald has just done.
Tell everybody the MSM is full of shit, just like the Republicans do.
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Better to Peak Earlier ...
[Read the article: How not to prepare for peak oil]
[Read more letters about this article: Here]The higher the peak the greater the fall ... Since oil is finite then the sooner production peaks the less the fall off in production going forward and the less destabilizing the transition.
Hundreds of millions will probably starve, there will be conflict but all that will only be worse later.
Malthus is making a comeback in a big way ...
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Better to Peak Earlier ...
[Read the article: How not to prepare for peak oil]
[Read more letters about this article: Here]The higher the peak the greater the fall ... Since oil is finite then the sooner production peaks the less the fall off in production going forward and the less destabilizing the transition.
Hundreds of millions will probably starve, there will be conflict but all that will only be worse later.
Malthus is making a comeback in a big way ...
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Peak Oil is Here ...
[Read the article: The oil seesaw]
[Read more letters about this article: Here]And along with it peak money and peak credit. Anything we can do to lower our trade deficit is a good thing. Trouble is, that now oil is going up faster than we are cutting back so the trade deficit grows anyway.
If we don't declare an energy emergency soon we will be swamped with enough debt to put us under. The United States is heading for the wall of insolvency and can't seem to find the brakes.
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Neoliberalism is the Problem ... The WTO is Its Tool ...
[Read the article: The Washington food crisis consensus]
[Read more letters about this article: Here]... for while economic activity has increased because of globalization its rewards have almost entirely accrued to the transnational corporations and the oligarchs in each country.
The WTO needs to be scrapped. It is dead in the water right now because most countries have figured out the damage that neoliberalism inflicts upon the countries that are forced into its clutches. Those countries unfortunate enough to be in the clutches of the World Bank and the IMF are the worst off as they are slaves to debt that debilitates their ability to serve their people.
There needs to be a rebirth of national sovereignty for all nations such that they can chart their own destiny. Tariffs need to be enacted by every country so that monies are available for pressing domestic needs such as healthcare and education, while protecting vital sectors of their economy, such as agriculture.
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Good Idea !
[Read the article: Nationalize the rating agencies!]
[Read more letters about this article: Here]Accounting firms should be nationalized as well as they do the books for these companies for large compensation. Then maybe the corporations wouldn't need two sets (or more) of books, one for the shareholders and one for the IRS.
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It's All About Growth ... And Fractional Reserve Banking ...
[Read the article: The peak oil culture wars]
[Read more letters about this article: Here]Without growth our money supply literally disappears because of the way we create our money, loans monetized through checking accounts in the current banking system.
Since without more and more debt, the product of loans, the whole system stagnates as there are more payments, in principle and interest than cash created in any given time period. This is why Business, Government and Academia all tout growth, without it we spiral ever downward.
And of course Peak Oil absolutely means Peak Credit which limits money creation and chokes our money supply leading to a default spiral. There of course a way around this, credit banking controlled by a Public Central Bank. Money created without debt, as the Constitution allows us.
The Bankers will be fighting for their lives. They enjoy the biggest subsidy the Government operates, fractional reserve banking, that enables them to loan out over 10 times what they actually have in reserves, which of course multiplies their profit by 10 times.
We can have a sustainable economy or fractional banking, but not both.