Welcome to the Future: The New Kleptocracy (loan, agent, credit)
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In this radio show, "The New Kleptocracy", economist Dr. Michael Hudson discusses Treasury Secretary Hank Paulson's "Plan" passed by Congress on October 3, 2008. Hudson talks about what is being purchased, the congressional vote, and what this means for the rest of us.
Basically, Hudson says, the bailout will do no good, the dollar will be worth little, and what we’re watching is a shift in our government from a Democracy to an Oligarchy. (Kleptocracy is the stage in between and means rule by thieves who mismanage funds.)
Well actually this is easy to know. Again all money is debt and only those with good credit will get it. If they are tightening lending standards how are they going create new debt at the same time? If the US starts falling then no one will be credit worthy here especially since we are drowning in their garbage. Its like a bank not loaning money to a resort because no one likes the resort anymore because the bank made it into a landfill. So the bank will lend to its competitors or in this case overseas.
So what will happen is this money will be pumped into the banks. The banks will not loan to the US but off shore. The only time we will see our own money again is when they buy our deflated assets.
You have a chilli dog in you hand. You have $5 stolen from you. Someone comes and buys your chilli dog for $5 and eats you lunch. See you got you money back.
This is not new. This was done recently in Agentina, Brazil, Russia etc.
"The foothills south of Mendoza in Argentina have long been known as the agricultural heart that produces the country's increasingly popular signature wine, malbec. For the past three years it has also been where Americans, Canadians and Europeans looking to fulfill winemaker fantasies have taken advantage of Argentina's relatively low land prices and bought mini-vineyards. "
Does anyone see that Argentina was bought out from under it? Does this sound like fun for the natives? This is nothing but a resort for the regional goveners of the financial empire.
Did you take the time to listen to what Michael Hudson was talking about? Your post indicates that you did not.
I am listening to some now. Its in the old play book. The money is going to the regional governors. Who knows maybe when they foreclose on your vineyard you will get to work the wine bar.
Peter Schiff has been saying the same thing since 2005 and probably even years and years before that. I love his book, Crash Proof, even if I'm only on page 30 i'll let you know how the entire book is when i'm done with it.
Peter Schiff has been saying the same thing since 2005 and probably even years and years before that. I love his book, Crash Proof, even if I'm only on page 30 i'll let you know how the entire book is when i'm done with it.
Better stay up late reading..you don't want to finish that book AFTER we crash
In this radio show, "The New Kleptocracy", economist Dr. Michael Hudson discusses Treasury Secretary Hank Paulson's "Plan" passed by Congress on October 3, 2008. Hudson talks about what is being purchased, the congressional vote, and what this means for the rest of us.
Basically, Hudson says, the bailout will do no good, the dollar will be worth little, and what we’re watching is a shift in our government from a Democracy to an Oligarchy. (Kleptocracy is the stage in between and means rule by thieves who mismanage funds.)
At the end of the program, Hudson talks about the toll that inflation took on Russia after 1996. The damage was both psychological and social, worse than any military invasion.
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