1) Our readership is increasing daily and we try to focus our postings so as to not exclude new readers who may not truly understand the evils of the Fed or the rots of the economy while not boring the loyal followers...
2) This post-crisis financial BS that we cover IS repetitive!
It should have defaulted on its debts and forced all those scavenger investors to suffer Huge financial losses while bringing down that corrupt European Union and its central bank...
Instead it accepted a bailout.. problem solved..
Except it wasn't..and many tax increases, privitazation (selling national resources like one's lottery and railroads to private investment firms) and cuts in social service later, the little shit nation needed a second bailout..
The population voted a corupt pro-European Union candidate into office as their next President back in 2012 to replace their previous corrupt pro-EU President and well.. you get what you deserve..
In this case.. a second bailout and more cuts and wholesale selling of their national identity and history..
And today what is it we read??
That's uno... dos... Tres! Three!
And who pays?
Well the European citizens do.. especially the successful northern nations..
And Americans pay too.. We pay via the 16.4% of the total funding of the International Monetary Fund which matches our power and control of that entity which is a lot... (we don't have the time to go into how so.. keyword IMF to see previous postings we've written on that scourge)
Last year, Bernanke gave the ECB $850 Billion as a cough--cough! loan.. And a day later, the ECB had money to prop up the Eurozone... So yes, we American taxpayers prop up our economic competitors overseas...
There's so much we pay for in taxes which the people are clueless about but as we said before, just not enough time to go into it now...
So finance IS repetitive...
Student loans is another example..
Every single year young people are completely brainwashed and hoodwinked into believing that in this post-Lehman economy, college is the avenue to a good life..
Does a person really need 4 years of college to answer a telephone,, do rudimentary data entry, serve in the tourism industry, wait on tables, stock shelves and sell cell phones??
Think of it like this.. Let us say there was no NFL or NBA professional sports leagues... What would the point be of many physically talented young people to attend a college to play?
What options does a history major have who doesn't want to teach spoiled little bastard kids? How much respect does a Philosophy major get in the real world?
And on the other side of the equation, how many G-D attorneys, financiers and business middle managers do we really need??
Its bad enough that cowardly Congress passed a law keeping interest rates low and everyone in power and media force feeding a lie that college is the way to have a future..
Over one Trillion dollars of student loans are on the hook to twenty-somethings... Right now the default rate for many schools is higher than their graduation rate!
A stunning 57% of undergraduates used federal student aid to help pay for college in 2012; dramatically higher than the 47% in the pre-crisis 2007 year.
An average of $8,200 per recipient is paid out by the government coinciding with climbing tuition costs and the number of full-time students who received Pell grants in families with incomes between $60,000 to $80,000 shot up to 18% in 2011-12 from 2% in 2007-08.
Tuition keeps on a' rising, the university foliages keep looking more beautiful, the students party and drug more and more and end up with less and less to show for it 4-6 years later..
When did the idea of going to a vocational/trade school and learning a skill that can't be outsourced like roofing/carpentry, plumbing and that of an electrician be snubbed by so many? Or getting education by apprenticing in lieu of paying for school...
When did people start believing it was unobtainable and unachievable to begin one's own Internet business based on figuring what products or services people may need?
Unemployment that isn't sincerely lowering without bookkeeping tricks from the Bureau of Labor Statistics.. (Real Unemployment and we do mean REAL is over 14% but due to ignoring millions of unemployed and other number-crunch games, its at 7.4% "officially")
So until the real world changes, we're forced to write on the same tripe..
Let's all hope for that autumn crash to knock some of these Big Boys out and hope a level economic playing field can develop among the rabble from the rubble..