Hope2012


ALTERNATIVE ECONOMIC ANALYSIS AND PRACTICE

 The U.S “Odious Debts” used to Finance Illegal Wars

There is an established legal principle that people should not have to repay their government’s debt to the extent that it is incurred to launch aggressive wars or to oppress the people.  These “odious debts” are considered to be the personal debts of the tyrants who incurred them, rather than the country’s debt.

Refuse to Pay Government Debt Incurred for Unlawful and Oppressive Purposes … It Is the Personal Debt of Those Who Ordered It to Be Incurred

Inverting the Economic Order

An excerpt from an excellent Wendell Berry article on revising the priorities of the economy.

Solidarity Economics.

Solidarity Economics. (pdf) Strategies for Building New Economies From the Bottom-Up and the Inside-Out.
See also: Other Economies Are Possible.

History of Economic Thought – lots of resources

Turning The Tide – A New Vision Of Eco-Nomics

If Government Won’t Break Up the Giant Banks, Let’s Do It Ourselves

Bradbury would create ‘Bank of Oregon’ if he were governor

Moving Your Money Can Have a Real Effect on Big Banks

HuffPost says, “Move your money”, with video

The folks at The Huffington Post have come up with a simple, novel idea that might help right some of the wrongs of the last year, a year that has seen Wall Street faring much better than Main Street since the economy hit bottom over the summer – move your money from a big bank to a small community bank.

Escape from Pottersville: The North Dakota Model for Capitalizing Community

North Dakota is the only state in the union to own its own bank. The Bank of North Dakota (BND) was established by the state legislature in 1919 specifically to free farmers and small businessmen from the clutches of out-of-state bankers and railroad men. Its populist organizers originally conceived of the bank as a credit union-like institution that would provide an alternative to predatory lenders, but conservative interests later took control and suppressed these commercial lending functions. The BND now chiefly acts as a central bank, with functions similar to those of a branch of the Federal Reserve.

However, the BND differs from the Federal Reserve in significant ways. The stock of the branches of the Fed is 100% privately owned by banks. The BND is 100% owned by the state, and it is required to operate in the interest of the public. Its stated mission is to deliver sound financial services that promote agriculture, commerce and industry in North Dakota.

More On The Ecological Stimulus Package: Lessons From The Ancients

Here’s a not-so-Trivial Pursuit Question: what ancient society survived dire ecological circumstances for 500 years by reorganizing their production systems, restructuring their economy, reducing consumption levels, and maximizing limited resources?

Pissed Off at the Corporate Banking Industry? Here’s an Easy Way You Can Hurt Them

MORE THAN ONE WAY TO RECLAIM THE POWER TO CREATE MONEY: An Open Letter to the American Monetary Institute, August 28, 2009

What Solutions to the Current Economic Crisis?

How to Stimulate the Economy

A Poverty Antidote Goes Global

The Ideology of Unfettered Capitalism Is Crumbling — It’s a Huge Opportunity for Alternative Economics

Free 50-Page PDF of The Simple Dollar’s Best Advice [Personal Finance]

Surviving Economic Collapse: Tips, Tactics, And Gear

100 Things You Will Wish You had Stored

100 Items to Disappear First

Fifty Things To Do Now if you fear an economic breakdown

Story Of Stuff: A Must Watch Video

Consumerism in the U.S. was and is intentionally created to subjugate us and enrich the Corporations. Simple and easily understood explanation of the entire process.

Let people print their own money, says Guardian columnist

Local Money Strengthens Communities

Local Currency Causes a Stir in London: The Brixton Pound (Video)

Food-backed Local Money

Creative Food Economy Emerges in Ontario

How to Print Your Own Money, Build Community & Not Get Arrested by the Feds

THE RESILIENT COMMUNITY: SCRIP

Can Community Currency help revive a struggling economy?

Communities print own currencies to keep cash flowing

[news] 184 Communes Currently in Formation in Venezuela

Man Challenges the Legality of Credit Card Debt after Bailouts

And would have a pretty good case, if the system worked as designed.

Mainstream MarketWatch: Prepare for the End of America

Mainstream financial news source MarketWatch is telling Americans to prepare for the worst, the end of America. In their Article, “How to invest for a global-debt-bomb explosion,” Not only do they talk about the coming total economic collapse but they admit that there is a cabal of elite who are orchestrating it. Author of the article, Paul Farrel extends the view, as if it is widely accepted, that there is a “Happy Conspiracy” of global elitists that is operating behind the scenes to create a coming major economic disaster. The article goes on to say prepare by stockpiling necessities because a 2nd American Revolution is imminent.

Morgan Stanley Strategist: Head for the Hills!

A Primer on How to Successfully Challenge a Foreclosure

South Carolina General Assembly considers move away from Federal Reserve Notes

HuffPost says, “Move your money”, with video

The folks at The Huffington Post have come up with a simple, novel idea that might help right some of the wrongs of the last year, a year that has seen Wall Street faring much better than Main Street since the economy hit bottom over the summer – move your money from a big bank to a small community bank.

 

RELATED:  POSTS ON ECONOMY OR ON ALTERNATIVES



The US Economic System: How and Why It Got This Bad and Where It’s Going

Exposing Our Enemy: Meet the Economic Elite

This is who ‘they’ are.

The Economic Elite vs. the People of the United States of America: Part I

Senator Majority Leader Harry Reid: Taxes are Voluntary in America

2010 Food Crisis for Dummies

Not just for dummies; this is a must-read 

Economic Black Hole: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

“Modern Money Mechanics” by Federal Reserve…Explained

This video series (7 parts) goes page-by-page of “Modern Money Mechanics,” a pamphlet by the Federal Reserve of Chicago, no longer in print but available on the internet, which describes “the basic process of money creation in a ‘fractional reserve’ banking system.

Economic Crisis: The Sovereign Debt Bubble

Global Insolvency: How will the US Service its Debt?

Such unbridled greed came close to bringing down the entire financial system, which American taxpayers have been allowed to pick up the bill for. After all this we see absolutely no regulation in sight and the SEC and the CFTC continue to protect the titans of Wall Street as government looks on in total disinterest. This, of course, omits the Executive Order borne criminality, which has turned our free markets into controlled and manipulated fascist markets. People say what can I do? You can start by throwing almost every incumbent out of office and buy pressing the Senate relentlessly to pass the bill that includes an audit and investigation of the Fed.

Is a U.S. Default Inevitable?

Backing up Blankfein’s plea of ignorance and incomprehension is this: The crisis killed Lehman Brothers and would have killed every one of them had not the Treasury and Fed, neither of which saw it coming, either, intervened with hundreds of billions in bailout cash.  Yet there were those who warned a housing bubble was being created like the dot-com bubble; others who predicted the Empire of Debt was coming down. As, today, there are those warning that the United States, with consecutive deficits running 10 percent of gross domestic product, is risking an eventual default on its national debt.

Federal Reserve Made Record Profit in 2009: Report

Federal Reserve Seeks to Protect U.S. Bailout Secrets

Former Mexican foreign minister calls for ‘North American union’, unified currency

Nobel economist Stiglitz: “US privatized profits, socialized losses is not capitalism.” It’s fascism

Joseph Stiglitz understands half the US economic disaster when he explains current policy is “no way to run an economy that’s going to work,” “there’s moral hazard everywhere,” and newly-invented and unregulated financial markets have only increased risk, not decreased it.

Spying for Dollars: Military Contractors and Security Firms Reap Huge Profits

Actual Bloomberg Headline: “Secret Banking Cabal Emerges From AIG Shadows”

Willem Buiter warns of massive dollar collapse

Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned.

All Hell Could Break Loose Because of the Huge Government Debt

The United States faces projected 10-year federal budget deficits that seriously threaten its bond market, exchange rate, economy, and the economic future of every American worker and family. Those risks are exacerbated by the context of those deficits: a low household-savings rate, even after recent increases; large funding requirements for federal debt maturities every year; heavy overweighting of dollar-denominated assets in foreign portfolios; worsened fiscal prospects in the decades after the current 10-year budget period; and competing claims for capital to fund deficits in other countries.

How Goldman Sachs Helped Greece to Mask its True Debt

How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps

Step 1: Sell mortgage-related securities that are absolute junk to trusting clients at vastly overinflated prices.

Step 2: Bet against those same mortgage-related securities and make massive bets against the U.S. housing market so that your firm will make massive profits when the U.S. economy collapses.

Step 3: Have ex-Goldman executives in key positions of power in the U.S. government so that bailout money can be funneled to entities such as AIG that Goldman has made these bets with so that they can get paid after they win their bets.

Step 4: Collect the profits – Goldman Sachs is having their “most successful year” and will end up reporting approximately $50 billion in revenue for 2009.

RELATED: ECONOMY POSTS



Sobering Facts About the Failing US Economy

The Geography of Recession

An interesting graphical representation of the recession playing out from January 2007 through December 2009.

Fitch: U.S. State and Federal Debt to Hit 94% of GDP

It is mathematically impossible to pay off the federal debt.  U.S. citizens should embrace Ecuadors’ example and proclaim the debt illegitimate.

Congress passes record debt hike

Obama Signs Law Raising Public Debt Limit from $12.4 Trillion to $14.3 Trillion

It Is Now Mathematically Impossible To Pay Off The U.S. National Debt

Two Dozen States’ Unemployment Funds in the Red, Nine More Within Six Months

Cash-strapped US running out of unemployment money

More and More States on Budget Brink

Across the nation, state tax collections in the first three quarters of 2009 posted their steepest decline in at least 46 years, according to a report this month from the public policy research arm of the State University of New York.  At least 30 states raised taxes in their most recently completed fiscal year — which ended in most cases in mid-2009. Even more cut services. All told, states raised $117 billion to fill last year’s budget gaps, the Pew Center on the States estimates.

25 State Unemployment Funds Bankrupt; Credit Card Defaults at Record Levels; Look on the Bright Side

 The unemployment insurance system is in crisis. A record 20 million Americans collected unemployment benefits last year, and so far 25 states have run out of funds and been forced to borrow from the federal government, raise taxes or cut benefits. Using near real-time data on states’ revenues and the benefits they pay out, we’ve estimated how long their trust funds will hold up.  And while states’ poor fiscal planning is a serious topic on its own, our unemployment insurance tracker also follows the increasing human toll: so far businesses in 36 states face tax increases this year, ranging from a few dollars per worker to more than a thousand. Six states have moved to cut, freeze or otherwise restrict benefits, a number that is likely to increase.

Chris Christie declares fiscal ‘state of emergency,’ paving way for N.J. spending cuts

Calling New Jersey on “the edge of bankruptcy,” Gov. Chris Christie today declared a fiscal emergency, seizing broad powers to freeze aid to more than 500 school districts and cut from higher education, hospitals and the Public Advocate.

Along with eliminating programs “that sounded good in theory but failed in practice” across state departments, Christie is cutting $475 million in aid to school districts, $62 million in aid to colleges and $12 million to hospital charity care.

Five Million Workers to Exhaust Unemployment Benefits by June

One in Seven U.S. Mortgages In Foreclosure or Delinquent

Number of New Yorkers at risk of losing their home to foreclosure surges, new statistics show

Dallas/Fort Worth quarterly foreclosure postings jump 22%

Study: Hunger in America jumps ‘unprecedented’ 46 percent

U.S. state pension funds have $1 trillion shortfall: Pew

Credit Suisse Declares the U.S. a Riskier Investment Than Indonesia

Previously: US Economic Tailspin: States going bankrupt, unable to provide services




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