Ten years after the Greenspan Fed
Written by Peter Diekmeyer (CLICK FOR ORIGINAL)
Ten years ago this week, Alan Greenspan left his post as head of the US Federal Reserve, facing disgrace among hard money advocates, which largely persists to this day.
An ‘invisible tsunami’ of methane gas has been pouring out from a broken well in Los Angeles, causing thousands to become ill as people’s lives and business’ have been turned upside down for over three months, as residents wait for the gas company to take action once and for all. Huffingtonpost.com reports: The rotten-smelling air in and around the Porter Ranch community will begin to clear when the well is permanently sealed.
Paul Craig Roberts has said that Michael Hudson is not only the best economist in the world, but he is the only real economic in the world. Almost all of the others are “neoliberals” – not economists at all, but shills for financial interests. Paulcraigroberts.org reports: If you have not heard of Michael Hudson it merely shows the power of the Matrix. Hudson should have won several Nobel prizes in economics, but he will never get one. Hudson did not intend to be an economist. At the University of Chicago, which had a leading economics faculty, Hudson studied music and cultural history.
Submitted by Hugo Salinas Price via Plata.com.mx,
The current melt-down of the world's debt bubble is likely to continue in the course of the next months. The secular trend to expansion of credit has morphed into contraction and liquidation. It is my opinion that the new trend is now established and no action by any of the Central Banks (CB) that issue reserve currencies will do anything at all to reverse that trend.
Well, don’t say we didn’t warn you.
Just yesterday, in the course of documenting the largest ponzi scheme the world has ever known (in terms of number of victims), we remarked that if China’s beleaguered masses needed yet another excuse to rise up and stage massive street protests, they got one in the form of online P2P lender Ezubao, which defrauded nearly a million people.