"The only way to extricate ourselves from the present mountain of debt is to be more productive. Growth is the only way out of debt; you cannot inflate yourself out of debt, even if this is the go-to agenda among policymakers. Ultimately, change will not come because we want it. It will not come because we decide on it. It will come because we need it."
In the latest reminder that 7 years after the financial crisis, the US banking system still remains a systemic risk, Minneapolis Fed President Neel Kashkari today released four-step plan to end too-big-to-fail problem. The reason for the proposal: America's "biggest banks continue to pose a significant, ongoing risk to our economy" and "One analogy that helps highlight the trade-off of costs and benefits is the risk of terrorism."
In what may be bad news for the financial sector, after opposition to grassroots as well as Congressional republicans, Trump appears to be tempering expectations of a full Dodd-Frank repeal, and according to the WSJ, Trump’s transition team is instead focusing on "rescinding or scaling back individual provisions."
Virtually the whole planet holds its collective breath at the prospect of Hillary Clinton possibly becoming the next President. How’s that humanly possible, as the (daily) Bonfire of The Scandals – relentlessly fed by WikiLeaks revelations and now converging FBI investigations - can now be seen from interstellar space? It’s possible because Hillary Clinton, slouching through a paroxysm of manufactured hysteria, is supported by virtually the whole US establishment, a consensual neocon/neoliberalcon War Party/Wall Street/corporate media axis. But History has a tendency to show us there’s always a straw that breaks the camel’s back.
According to US Senator Harry Reid and the presstitutes, "we don’t need to worry about Hillary’s crimes. Comey’s alleged crime is far more important. This woman-hating Republican violated the Hatch Act!" The Oligarchs are now hard-pressed to rescue Hillary as US president, so let’s see if the Oligarchs can once again deceive the American people.
Gregory Sancoff is a self-made millionaire who spent some of his own fortune building a stealth boat for the U.S. Navy. The Navy has chosen not to purchase Sancoff’s “Ghost” boat. That is fine… except, the Navy has deemed the technology too classified to allow him to sell it anywhere else.How does this make any sense, if he developed the boat all on his own, without any government funding or assistance?
"I am now convinced that the Oligarchy that rules America intends to steal the presidential election. In the past, the oligarchs have not cared which candidate won as they owned both. But they do not own Trump."
With less than two weeks to go before E-day -- despite the Trumptilian upheaval of the last year -- the high probability of a Clinton win means the establishment remains intact. When we awaken on November 9th, it will undoubtedly be dawn in Hillary Clinton’s America and that potentially means four years of an economic dystopia that will (as would Donald Trump’s version of the same) leave many Americans rightfully anxious about their economic futures.