Reagan’s Ex-Budget Director Slams Crony Capitalism

An attack on “crony capitalism” David Stockman, Reagan’s former budget director, published in the the March 31st New York Times has come in for major attack from both the right and left. Given the piece provides a fairly accurate analysis of America’s current economic woes, I find this quite sad. Stockman also attacks  crony capitalism […]

You’re Next: Don’t Let Them Do a Cyprus on New Zealand

Please sign petition at http://www.avaaz.org/en/petition/Reform_the_banking_system_so_that_no_more_bailouts_are_ever_needed/?cHHSRcb Readers may be aware of an effort by the New Zealand’s government to re-jig the Reserve Bank’s Open Banking Resolution to permit failing banks to confiscate a portion of their customer’s accounts to repay bank debt – as the government of Cyprus has just done. Unlike Cyprus, New Zealand isn’t […]

Will the US Dollar Collapse in May?

John Williams, founder of Shadowstats.com, predicts the US dollar will collapse by May 2013 from a massive self-off (i.e. the value of the dollar will crash because other countries will dump dollars in favor of other currencies) by May 2013. ShadowStats.com is dedicated to correcting the deliberate distortions the federal government, builds into their unemployment […]

New IMF Chicago Plan Video: Stripping Banks of Their Power

Last October two International Monetary Fund (IMF) economists (Jaromir Benes and Michael Kumhof), created a firestorm with their working paper The Chicago Plan Revisited. The document revives a proposal first put forward by professors Henry Simons and Irving Fisher in 1936 during the Great Depression. Fisher, like many modern economic thinkers, was extremely concerned about […]

Haitian Voodoo Economics

By Christopher McManus On January 7th, President Rene Preval of Haiti put the final touches on the privatization of Haiti’s public telephone company, TELECO. Five days later the horrific earthquake leveled Haiti, killing over 200.000 people. The selling off of assets, the International Monetary Fund’s austerity measures, were under full swing under the Preval administration […]