New Concerns About The Global Economy
http://thedianerehmshow.org/shows/2012-06-05/new-concerns-about-global-economy
There are new signs Germany may be willing to take an even greater role in rescuing the euro. Help would be tied to more centralized control over government spending across the euro zone and could cost trillions. Europe accounts for about a fifth of the world's economy. Financial troubles there continue to cast a long shadow over prospects for global growth.Please join us to talk about the economic and political risks of a faltering global economy.
Guests
Stella Dawson
U.S specialist, economics editor, Reuters.
Ian Bremmer
president, Eurasia Group; author of "Every Nation for Itself: Winners and Losers in a G-Zero World" (May 2012)
David Smick
global macroeconomic advisor, founder and editor of The International Economy magazine and author of "The World Is Curved: Hidden Dangers to the Global Economy".
Comments
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All of this is no surprise. I am amazed that so people seem to be taken off guard. This is the natural consequence of trusting the religion of capitalism. And like any religion, it is run by fear, and shortage ....
Get used to it, it's gonna be around as long as capitalism drives things!
We have an global economy based on theft. Suburban cities steal companies from big cities,using cash and tax breaks. States raid one another,offering cash,tax breaks,and a union busting government. Countries steal manufacturing from everyone,offering cheap labor,cash,and low or no taxes.
They say doing anything about this thievery is 'PROTECTIONISM',and wrong.
Another name for this nonsense is "Trickle Down" economics.Yes,coming soon to a neighborhood near you.The thieves who steal the metal and wiring right out of the plants and homes near you.Yea,the "Trickle Down" of water when your pipes are gone.
This is the future of thievery we are handing off to our children and grandchildren thats disguised as a success story. Isn`t this "STUPID IS AS STUPID DOES" plan just grand? Pat yourselves on on the back for allowing,and even promoting this craziness.
Oh yea I almost forgot,how about the Corporations who threaten to move if we don`t pay their demands?
The financial elite, the global top hundredth of one percent continues to accelerate their income stream. They have the rules and economic architecture they need thanks to sycophantic leadership, the WTO, the World Bank, the International Monetary Fund, fast tracking of arcane agreements, the banking establishment and mercenary US military might.
Whether this outcome from Capitalism remains capitalism is a matter of historical interpretation and semantics. To maintain such a regime would require further deprivation and oppression of the overwhelming human majority now judged superfluous or expendable, and will soon cause an ecological breakdown. (Fukishima and the Gulf spill are unrecoverable assaults of the magnitude that could collapse natural systems.) The only failsafe to avert extinction is the demise of this socioeconomic system. In the face of that party politics looks pretty miniscule, but the nihilists seem to have embraced a rush to oblivion. (The proto-fascists are strangely quiet on this topic. They lack an applicable script or marching order filtering down from parasitic heights. Except to claim science is a hoax or that the Bible is a guide.)
I don't think I have seen the dynamic trio of America haters aligned this way in a hate sandwich before. You should be quite pleased with Obama these days, he is one of your kind bringing the system down from the inside. You do realize to get what you want in this country and worldwide there needs to be total collapse and extreme poverty on a mass scale. The masses have to be fooled into thinking it was not the progressive socialists that brought them to this place but the faceless scapegoat, the corporate uber rich.
Rather than again rehash oligarch profits with two old religionists, Diane, please invite Gerry Mander on ASAP. His "Capitalist Papers" is being released this week, and it offers 7 succinct categories of argument as to why Capitalism and it's merchantilist outcomes are obsolete. Maybe you could offer John Perkins (Confessions of an Economic Hitman) and Lester Brown (Earth Policy Institute) second and third chairs.
I know the above can't happen because of blacklisting but there would be no point in booking a wrong wing opponent because there is no ratioal refutation of what these three lay out. There was a time when DRShow had no fears....
And of course YOU would never consider yourself as part of "the masses".
It's elitist sycophants who prop up the very wealthy and surrender even their souls to the tin gods of rampant greedy unscrupulous capitalism. Progressives are ready and willing to work WITH any one or any group including responsible citizen capitalists for the country and the People (as in "We The....". No liberal or progressive wants to take ANYthing away from ANYone else, ecen the robber barons. We want a fair shake in business and society without somebody tricking the deck in their favor. It's not democracy or free speech when each of us has one voice and the ultra-wealthy have giant quadrophonic dolby loud speakers in every corner from the Fed to the states to the local townships.
I have owned and operated three successful businesses over many years and chose to stay small........business takes on a rapacious mentality of its own when it grows too large.
We "masses" are neither deluded or follow ANY official in the lockstep cookie cutter paths that drone conservatives do. Unlike the Repug primaries, liberals had choices in the Obama election (being from Delaware and being informed my choice was actually Joe not O). But Obama has actually tried to keep important promises like winding down two wars and passing a semblance of health reform.......one that we can build on.
Ad hominemattacks on progressives is no way to accomplish anything.
Why would a little Brownshirt need to defend a "faceless scapegoat?"
If most property and money value is not being hoarded by a tiny elite minority
(which has used some of its lucre to buy the political system) then where oh where can it be? Keyboard Propaganda lackeys paid $.50 a post ain't gettin' any, that's for sure. Soon they'll be paid with Cheerios from a dispenser for pushing a bar fast enough to avoid electric shock to their privates. Go free market! Turn up the voltage.
monte wrote:
"You do realize to get what you want in this country and worldwide there needs to be total collapse and extreme poverty on a mass scale".
It's already started monte. Europe is in free fall, the G7 doesn't know what to do, China is crashing because we can't afford to by their stuff. The gig is up....it matters very little who gets elected in Wisconsin, or America this fall.
Whatever the outcome of this political charade, the economy is going into the toilet. And true believers in the capitalism just cannot wrap their heads around it.
No president can save it, and our government chooses not to.
Teece: The OWNERS choose not to.... (save humanity, civilization and planetary ecology).
Teece Bowman wrote 'The gig is up....it matters very little who gets elected in Wisconsin, or America this fall.'
If the country and the world follows the "Wisconsin model" I do think there is hope. We will be casting our votes for the Wisconsin model at or around 5pm CST...
" We will be casting our votes for the Wisconsin model at or around 5pm CST..."
The die has already been cast monte.....money won! You know that. There is no illusion of democracy going on here.
Wagering on abstracted contingencies using logarithms at light speed is the only part of the economy that has grown in the last two decades. Most capital is now tied up in this casino. People continue to eat, poop, reproduce and drive around pointlessly even without jobs or opportunities. Wouldn't it be a great improvement to employ them doing anything constructive? (I wouldn't be too sure that Americans are not gonna starve, not gonna revolt.) Money is a mighty stupid reason to let civilization go to Hell. (Coke wastes water.)
I'm so tired of hearing how the shareholders have made alot of money.
I hold a modest diversified portfolio of supposedly blue chip stocks and have lost a third of it since 2008
Teece Bowman wrote: .....money won
The effects of sound leadership have become apparent and hopefully the voters will respond accordingly. Taxes for all have gone down and budget deficits have vanished. The democrats do not even mention the unions in the campaign, in fact Tom Barrett announced last week he is not beholding to the unions, the dems are desperate to make it a personality issue on S.W. and offer nothing else.
Oh, we love you Diane!
Thank you for asking the follow up question regarding what candidate Romney would do regarding the global economy. I counted a few seconds of dead air while the panelist paused... and then admitted (to paraphrase) "I don't know, but I would guess..."
"citizen captialists", a very interesting term. Much like "state capitalism", also an interesting term.
So here's what we do; no more private ownership. Everything goes to the state. Then, in order to even out labor inequities world-wide, countries pool their resources. No private ownership. No borders. Everybody works for the collective good and the state metes out what you need. Teece, Patsy, Pancake ... would that satisfy you? If not, where have I gone wrong?
captialism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
Yuck! Who the h--- would want that???!!!
CHERYLNASH08 wrote:
'I'm so tired of hearing how the shareholders have made alot of money.
I hold a modest diversified portfolio of supposedly blue chip stocks and have lost a third of it since 2008'
Completely agree, I'm in the same boat as are millions of other middle class Americans, unless you are very lucky just about everyone is down 15% to 30%.
This segment was an excellent example of how when ideological limits (concissions) are in place the discussion goes nowhere. (We can't question the sacredness of great property and covert elite contract so no meaningful adjustments toward healthier equitable distribution of resources and opportunities can be made.) They ended up discussing elite income as the only measure. How sad this exhibition of crippled reasoning seems in the face of pending catastrophe. (We shoot refugees of disaster in the back as they flee
destruction rather than putting them to the task of self help as in New Orleans.
Then we say, "They should have planned better.")
ecgberht wrote:
"captialism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
Yuck! Who the h--- would want that???!!!"
No longer the working definition. And the system in place at this point is so far removed from this as to make it a tragedy.
CHERYLNASH08--I have a diversified one for my 401K and my husband's from his death in 2003. i have lost that amount, too His account really took a beating. I am 63 and could retire but I really cannot afford to. when they speak of shareholders, they speak of the big money shareholders. The ones who lose nothing. Such as the 2008 melt down. Caused completely by the banks and wall street and not any president. The path was laid by the complicit help of Congress under Clinton(I am a democrat and voted for him, not sour grapes). The bank lobby 'talked', 'cajoled' congress to allow no over sight nor disclosure for their 'toxic bundles' which were sold to unwary banks, here and over seas. They took, this was the brain child of about 6 people working for Bear Sterns, or another bank, took those bad mortgages, bundled them with good debt and sold it but not telling the buyer they were then at risk of losing it all. The first bank to fail was in Germany and then the snow ball effect. Not a progressive. Thie fail had been in the works from the mid 90's. FINALLY, someone said it. Without a viable middle class, nothing will work. The economy is driven by us. Yet, the payoff goes to the ones who caused it. A $250 million bonus for one CEO, are you kidding me?
What`s the problem? The 1% have never done better. Profit,dividends,and CEO bonuses are at record level.
What they did to get this bonanza came out of the workers hides. The 1% are demanding workers sacrifice even more.If we don`t comply they`ll send more jobs abroad.
How about BofA ? Big time bailout,only to announce moving 1000`s of jobs to the Philippines. Aren`t these guys just wonderful? "Job Creators" of foreign countries.
ALL IS WELL,AS LONG AS THE DIVIDEND CHECK IS FAT AND ON TIME !
I never assume a crude homebound fascist has my satisfaction as his purpose, no matter what or how many names he calls himself. If you had anything to share you'd have shared it. Hatred and jealousy are all you have left because your roboposts are invalid. One of Diane's guests is always you, and that is becoming an obstacle to discourse. If you believed in doing business you'd go do it. Instead you "do your business" all over this board.
Topic: Red Lining Out The Middle and Lower Classes
The large banks and "lending institutions" control (and lose) so much capital that they are de facto "Red Lining" large strata of our economy, the middle and lower classes, from available capital. Would JP Morgan, CitiGroup or Goldman Sachs lend a dime to the Joe's Barbershop or Dottie's Diner on Main Street, instead of taking high risk, self-serving gambles across the world? Creating wealth has become disjoint and disconnected from creating jobs. Secondly, the wealth creation has become so self-serving that the questions should be wealth creation and job creation for whom. Red Lining only was stopped with Government intervention and yes, redirection of capital to everyone on a fair and economically sound basis, not on the basis of a quick buck and capital cronyism, as one of the speakers aptly said, but rather on of the basis of sound investment, and with that investment not flippant, but honest in its evaluation of the Joe Barbershops and the Dottie Diners on Main Street.
LeeNicholson:
If I was de President:
I'd open the soot pipe on Monday,
Unleash the corporate pitbulls on Tuesday,
Disrupt medical care on Wednesday,
Religionize schoolin' on Thursday,
Collect me bonus on Friday,
If I was de President.
(combined Wyclef Jean song with "What would a Romney Presidency be like? (ad)
Pancake Rankin, and we were all getting along so well? your cauldron is boiling over, better to lower that flame.
I love to study the Civil War. the mentality of the right and their cohorts remind me of the southern soldier. Most never owned a slave. Most were poor as poor could get. The wealthy plantation owners put more value in their slaves than what they referred poor whites as. YET, they talked a good game. The north will destroy you. Take away your rights. Take away your wealth. States Rights as they stripped and denied poor whites anything to begin with. Yet, they drank the kool-aid and lost what little they had. The same out come for the banks, too. They lost and the plantation owners lost. The banks lost, people lost their jobs and some banks lost everything. The south had to claw her way out of the aftermath with no help. On October 3, 2008 a bill was signed to help those wayward banks. By November, they had their money. In December, 2008, since the bail out was not working, the Federal Reserve loaned out $7.7 trillion to banks here and overseas and they STILL do not hire. That modern day soldier is still genuflecting to the plantation owners as they trod on his neck.
One other thing I learned just from listening to this station during the day. In China, unless you are a communist, do not expect to succeed. You can get a business started. Get a job, sure BUT to get into that fast growing upper class of the wealthiest Chinese, you had better join the party. The richest, most profitable, elite of China are communist party members. The rest are treated like our middle class. As nothing or less than.
I hate to see the nervous shaking, groveling and peeing of abused dogs too, pisces62. But it's pretty difficult for a poor dog to set himself on fire. For that he requires a Master. Some people like submission to the Big Man, an unfortunate perversion. They call it Liberty.
OK, let's take a tally of the accusations, shall we?
crude
homebound
fascist
hatred
jealousy
roboposts
And I'm sure there are others if you read between the lines.
Pancake, you are unable to debate me. So instead you accuse and insult.
Do you have ANY evidence for any of the adjectives above that you have assigned to me?
Now remember, Grady Lee Howard made the accusation of "racist" to me. This is not a "matter of opinion", it is something that must be demonstrated as a matter of fact, which he was never able to do - i.e. present a single racist post.
So Pancake, I'll ask you again, would you care to offer one SINGLE SCINTILLA of evidence for any of the accusations that you have made?
Or would you prefer to take the route a decent person would take, realize your error, and retract.
Pisces62- Chinese hierarchy is not so simple as becoming a party member.
They have an hereditary elite kind of like our Daughters of the American Revolution or Boston Bluebloods, but the universal rule applies. One must first have access to wealth/power in order to secure greater wealth/power. In this way China is also a "Capitalist" nation. Were I a communist rather than a free thinker I could not go over there and expect preferential treatment. Their elite actually seem to find more in common with ruthless corporate exploiters, partners in crime.