US Financial System a Greater Threat to Americans Than Terrorism

[georgephillip]

That's the opinion of a former high ranking member of Ronald Reagan's administration, Paul Craig Roberts:

"In the 21st century Americans have been distracted by the hyper-expensive 'war on terror.'

"Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign 'threats,' such as the Taliban, that remain undefeated after 15 years.

"All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.

"The purpose of the Federal Reserve and US Treasury’s policy of zero interest rates is to support the prices of the over-leveraged and fraudalent financial instruments that unregulated financial systems always create.

"If inflation was properly measured, these zero rates would be negative rates, which means not only that retirees have no income from their retirement savings but also that saving is a losing proposition.

"Instead of earning interest on your savings, you pay interest that shrinks the real value of your saving."

http://www.counterpunch.org/2016/03/09/the-financial-system-is-a-larger-threat-than-terrorism/

 

[Lukey]

Bump! If there's anything positive about this election season, it's that both party's "big story" is the performance of the non-neocon candidates.

 

[BitterPill]

That's the opinion of a former high ranking member of Ronald Reagan's administration, Paul Craig Roberts:

"In the 21st century Americans have been distracted by the hyper-expensive 'war on terror.'

"Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign 'threats,' such as the Taliban, that remain undefeated after 15 years.

"All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.

"The purpose of the Federal Reserve and US Treasury’s policy of zero interest rates is to support the prices of the over-leveraged and fraudalent financial instruments that unregulated financial systems always create.

"If inflation was properly measured, these zero rates would be negative rates, which means not only that retirees have no income from their retirement savings but also that saving is a losing proposition.

"Instead of earning interest on your savings, you pay interest that shrinks the real value of your saving."

http://www.counterpunch.org/2016/03/09/the-financial-system-is-a-larger-threat-than-terrorism/

That's why I buy real estate, though I made a nice pile of money off the stock market during the recession.

I'd still give all I earned back if it meant no recession. So many people suffered.

 

[worldlymrb]

That's why I buy real estate, though I made a nice pile of money off the stock market during the recession.

I'd still give all I earned back if it meant no recession. So many people suffered.

Imagine how well the 1%'ers who own half the DOW profited!

Of course Bill Clinton surely shocked HopeHeads at a campaign rally when he mentioned 85% Americans had no pay raise since the recession ended.

 

[georgephillip]

That's why I buy real estate, though I made a nice pile of money off the stock market during the recession.

I'd still give all I earned back if it meant no recession. So many people suffered.

I don't think most Americans realize the extent to which the FIRE sector has come to dominate the US economy:
"Central banks, neoliberal economists, and the presstitute financial media advocate negative interest rates in order to force people to spend instead of save.

"The notion is that the economy’s poor economic performance is not due to the failure of economic policy but to people hoarding their money.

"The Federal Reserve and its coterie of economists and presstitutes maintain the fiction of too much savings despite the publication of the Federal Reserve’s own report that 52% of Americans cannot raise $400 without selling personal possessions or borrowing the money."
http://www.counterpunch.org/2016/03/09/the-financial-system-is-a-larger-threat-than-terrorism/
How would negative interest rates affect your savings?

 

[georgephillip]

Bump! If there's anything positive about this election season, it's that both party's "big story" is the performance of the non-neocon candidates.

I hope you're right.
I'm not sure about Bernie's foreign policy, to tell the truth, and Trump hasn't named his "team" yet, but he sounds like a cross between Dick Cheney and Dick Nixon, to me.
"Republican presidential front-runner Donald Trump acknowledged on Tuesday he does not yet have a foreign policy team, and three former U.S. military and intelligence officials who have endorsed him are little known in either the Republican Party or the wider foreign policy community."
http://www.reuters.com/article/us-usa-election-trump-foreign-idUSMTZSAPEC38QBK0T0

 

[Lukey]

I hope you're right.
I'm not sure about Bernie's foreign policy, to tell the truth, and Trump hasn't named his "team" yet, but he sounds like a cross between Dick Cheney and Dick Nixon, to me.
"Republican presidential front-runner Donald Trump acknowledged on Tuesday he does not yet have a foreign policy team, and three former U.S. military and intelligence officials who have endorsed him are little known in either the Republican Party or the wider foreign policy community."
http://www.reuters.com/article/us-usa-election-trump-foreign-idUSMTZSAPEC38QBK0T0

I'll take that as a good sign...