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With Both Presidential Candidates Full Of Hot Air, El-Erian Warns Of Populist Anger Returning
As the 'new' normal limps on, PIMCO's Mohamed El-Erian focuses his attention on the political dysfunction that roils the 'new new' normal in an excellent op-ed in Foreign Policy today. The economic and financial system risks breakages that the political system will be increasingly incapable of mending rapidly enough," he opines as he fears sluggishness in economic growth, unacceptably high youth unemployment and long-term joblessness, redoubled debt and deficit concerns, and worsening inequalities between rich and poor leading the US down a path towards Europe's disruption.
Via Foreign Policy:
"Sadly, neither Obama nor Romney has yet offered a meaningful, forward-looking economic reform program to address problems such as a malfunctioning labor market, unsustainable public finances, a broken credit system, inadequate infrastructure, and a lagging education system.
The risk for the United States, as well as the global economy, is that a lack of vision and political courage ends up leading to even greater economic disappointment and financial instability, bringing with it the social unrest we've seen in so many other countries over the past 18 months. Occupy Wall Street and the Tea Party may have somewhat fizzled, but populist anger could return with a vengeance.
The longer America's interlocking economic and political challenges persist, the greater the number of companies and long-term investors that begin to worry -- and, more importantly, act on those fears. They hire fewer people and invest less in factories and equipment. As they increasingly sit on the sidelines, the country's fate will be left in the hands of tactical position players and short-term traders, further ramping up volatility and reducing future growth and job opportunities. And when day traders and company flippers start running a country's economy, watch out.
The warning bells are ringing, and they are ringing loudly. We've already allowed bad economics to lead to bad politics. Now, it's high time to put a stop to the cycle where bad politics undermines an already fragile economy."
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Why would the wolves guarding the hen house want it any other way? El Arian and Pimpco are part of the plan. In 2010 Bill Gross admitted on national television that he got the inside scoop from the Fed about a week early so he could place his bets. Where was the outrage? Just another rigged event.
This is an orchestrated demolition of the world's financial system to take out as many as possible and funnel the most $ and power to those who enjoy power, corruption, greed and murder. It's all sport.
No justice? Round them up, put them on anchored cruise ships in the Atlantic, issue orange jump suits, remove all forms of communication, make weekly food drops and let them fend for themselves. They will eventually kill themselves off. Keep watch with closed circuit system and allow public to view their slow and humbling demise.
Or . . . $25.00 per head.
Excellent idea. +1000
Outstanding article- http://www.paulcraigroberts.org/2012/08/08/the-dispossessed-majority/
Do you think that this has anything to do with our problem...
http://www.mcclatchydc.com/2012/08/12/160935/will-high-oil-costs-permanently.html
No.
>[oil] prices surged over the last eight years
Oil and gold have surged together over the last six decades. But there is no "peak oil" and there is no "peak gold".
The problem is that too many dollars are being printed.
FYI here's some data.
Regarding gold, per http://www.nma.org/pdf/gold/his_gold_prices.pdf we have:
1952 - $34.60
2011 - $1,571.52
i.e. a 4440% increase in price
For oil, per http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_table.asp we have:
1952 - $2.77
2011 - $87.04
i.e. a 3040% increase in price.
Still trapped gazing only through the prism of price???
Why hasn't C+C increased since 2005?
Why have net Exports peaked?
"i.e. a 4440% increase in price" No, I beg to disagree. $34.60 had same purchasing power in 1952 as $1571.52 is in 2011. It is not increase in price but decrease in the value of $.
Romney doesn't even have the "Hot Air" part down. He just sits there and grins or waves his arms with the Manequin at his side.
If the TSA shoots as badly as our government is run, one billion rounds of ammo MIGHT result in one citizen getting a flesh wound or his skin broken. And that is a BIG maybe...
Populist Anger?...One only needs to look to Greece and Spain and realize when well over half the nation is on the government teat and enough of the other half is apparently sitting in a stupor watching video games or reality TV, it will take well over 4x more unemployment before Congressment have to start hiring more bodyguards. Don't fool yourself, food and gas crises are the only two things that get people incensed enough to take action.
Chris Christie for king for a month would accomplish more
how? promoting diabetes for big pharma?
Chris Christie would eat all the donuts, bacon too.
9/11 was an inside job, carried out with help of the US military, the Patriot act had already been inked before the Saudi Arabian hijackers boarded the planes they didnt fly into those buildings. What will the tipping point be for rounding everyone up and sending them to camp ?? The only empire America has left is an Empire of Debt, which was the title of a very good book from 2006 by William Bonner.
Dustification:
http://www.youtube.com/watch?v=cuTp7HkpW7U&feature=related
Cold-blooded central planning and the Fed’s never weakening persistence to persist in the face of the evidence of its failed after failed policy, like Stalin’s, disregards all the economic and human tragedy inflicted by its policies. Its money manipulation and the consequences thereof are a slander against the world’s future. It’s not just markets that these ideological transplants from Soviet Russia are destroying: they are deluding themselves with the belief that they can predict the complexities of the push and pull of the modern world itself. It can’t be done.
And on top of that, they’re going to put in place someone like Ben Bernanke who takes away the push and pulls of world reaction and he’s going to run it. It’s laughable.
It’s like telling Isaac Newton, don’t bother with your studies, my son; we can figure this out and we will make the decision as to what this thing called law of gravity is.
It’s an old story. Solzhenitsyn asked long ago in The Gulag Archipelago, what normal Russian at the beginning of the century, including the Russian Social Democratic Workers’ Party, could have believed, would have tolerated, such a slander against the bright future – all being practiced during the flowering of the glorious twentieth century—in a society based on socialist principles, and at a time when airplanes were flying and the radio and talking films had already appeared—not by one scoundrel alone in one secret place only, but tens of thousands of specially trained human beasts standing over millions of defenseless victims?"
And what were those slanders in the People’s Paradise? –- squeezing prisoners' skulls within iron rings; lowering human beings into an acid bath; trussing up the naked to be bitten by ants and bedbugs; thrusting a ramrod heated over a primus stove up anal canals; slowly crushing a man’s genitals beneath the toe of a jackboot; torture by keeping prisoners from sleeping for a week, by thirst, by being beaten to a bloody pulp… And not one interrogator/torturer was sent off to an insane asylum.
Populist anger? End the Fed before it's too late for mere anger.
I imagine the BTHP are for the snipers while the grunts on the ground will be using the other .223 to keep us in line.
"With Both Presidential Candidates Full of Hot Air..."
BOTH? You mean there are only two? LOL...anyone who votes for a Democrat or a Republican for anything is PART OF THE PROBLEM. Stop enabling these assholes! Vote third party. Vote Green. Vote Libertarian. Vote for your dog. Vote for ANYONE other than a Democrat or a Republican. Unless, of course, you like people who spit in your face and then laugh at you...
Al arian has it backwards claiming that broken financial system and broken economic system are not being fixed by the political system. The political system broke the functioning of the other two. Politicians are ther problem not the solution.