Category Archives: Economy and Debt

March 31, 2021

Dancing with the dead: Venezuelans turn to desperate measures to survive (Video) (2018)

Venezuela is facing the worst economic crisis in its history. For those who live in the capital Caracas, daily life is about survival. Public services are barely able to function, the welfare state nothing but a distant memory. Violent crime is on the rise, while prisons are full. From the hospital to the morgue and the cemetery, FRANCE 24’s reporters show you the harsh reality of life in Caracas, where extreme poverty means people are turning to desperate measures to get by.

March 22, 2021

Lenin’s New Economic Policy: When the Soviets Admitted Socialism Doesn’t Work

What was Vladimir Lenin’s remedy for his unfolding socialist catastrophe early in 1921? Free markets.

A century ago, the Mother Ship of Socialism—the Soviet Union—was teetering on the precipice. The Poles had just vanquished the hopes of dictator Vladimir Lenin to sweep across Europe. Under the bludgeon of Marxist central planning, the economy had collapsed to a fraction of its pre-war dimensions. The country was seething in discontent. Insurrection seemed imminent. Indeed, the month of March 1921 had begun with hungry Soviet soldiers and sailors mounting the Kronstadt Rebellion against the Bolshevik regime.

What was Lenin’s remedy for his unfolding socialist catastrophe? It wasn’t more socialism, at least for the moment. That would be like chasing a glass of tainted water with a gallon of Clorox. Desperate to reverse the consequences of socialism, Lenin turned to their only known antidote—capitalism.

Sunday marked the 100th anniversary of the start of Lenin’s New Economic Policy (NEP). In a stunning about-face on March 21, 1921, the NEP began undoing the previous four years. Expropriation of businesses and the nationalization of industries stopped. Lenin proclaimed a partial restoration of, in his own words, “a free market and capitalism.” Even state-owned firms would seek to operate on a “profit” basis. Individuals could own small enterprises again. Market prices would be permitted in place of state directives.

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January 31, 2021

Harry Dent: Stocks to crash 40% by April and won’t rebound for decades, here’s why (Pt. 1/2) – Video

Watch part 2 of this interview on gold: https://youtu.be/uLQUGpHQmug? The cyclical bull market for equities is over; after December, stocks will begin a secular multi-year decline, starting with a 40% correction by April, said Harry Dent, founder of HS Dent. “If we see another new low in the stock market, I predict we are not going to see new highs on the Dow, S&P, NASDAQ, biotech, you pick anything…you’re not going to see new highs on anything for decades,” Dent said. “You didn’t see new highs after 1929 for 24 years.”

January 30, 2021

Why Grantham Says the Next Crash Will Rival 1929, 2000 (Video)

Jeremy Grantham, co-founder and chief investment strategist of Boston’s GMO, believes U.S. stocks have become an epic bubble and will burst in a collapse rivaling the crashes of 1929 and 2000. In this interview, he explains why, discusses the futility of Federal Reserve policy, criticizes the state of American capitalism, and shares his thoughts on gold, Bitcoin, emerging markets and climate change. He spoke exclusively to Erik Schatzker on Bloomberg’s “Front Row.”

August 9, 2020

Chris Langan – Was the Lockdown Overkill? (Video)

Chris discusses the destruction of the economy, population manipulation and control efforts. Excerpt from FAQs About Reality, Episode 2: COVID and the NWO.

July 17, 2020

Economists on the Run

Paul Krugman and other mainstream trade experts are now admitting that they were wrong about globalization: It hurt American workers far more than they thought it would.

Paul Krugman has never suffered fools gladly. The Nobel Prize-winning economist rose to international fame—and a coveted space on the New York Times op-ed page—by lacerating his intellectual opponents in the most withering way. In a series of books and articles beginning in the 1990s, Krugman branded just about everybody who questioned the rapid pace of globalization a fool who didn’t understand economics very well. “Silly” was a word Krugman used a lot to describe pundits who raised fears of economic competition from other nations, especially China. Don’t worry about it, he said: Free trade will have only minor impact on your prosperity.

Now Krugman has come out and admitted, offhandedly, that his own understanding of economics has been seriously deficient as well. In a recent essay titled “What Economists (Including Me) Got Wrong About Globalization,” adapted from a forthcoming book on inequality, Krugman writes that he and other mainstream economists “missed a crucial part of the story” in failing to realize that globalization would lead to “hyperglobalization” and huge economic and social upheaval, particularly of the industrial middle class in America. And many of these working-class communities have been hit hard by Chinese competition, which economists made a “major mistake” in underestimating, Krugman says.

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July 15, 2020

Unelected Technocrats Have Seized Control of the Global Economy

It’s incredible that we live in a world where an unelected official has the power to decide where trillions of dollars are spent, with credit supplied by well-revered central banks and using economic calculations known only to the privileged few.

There are way more people on Main Street than members of Congress or the Fed, yet for inexplicable reasons these few have control, power, and decision-making ability over the lives of the many. Congress can legally tax and spend. The Fed can legally create US dollars and buy real assets at virtually no cost. These powers allow this very small group of individuals to affect the lives of hundreds of millions of Americans, if not the entire planet, by engaging in activity that if done by anyone else would be called counterfeiting.

For example, the Wall Street Journal noted that Secretary Mnuchin is hopeful that between July 20 and the end of the month a new economic stimulus package will be unveiled:

Mr. Mnuchin said the administration supports a second round of so-called economic impact payments to households, an extension of enhanced unemployment benefits for furloughed workers, and a “much, much more targeted” version of the Paycheck Protection Program of forgivable loans for small businesses.

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June 7, 2020

An Insider about the Insane Practices of the FED | Danielle Booth (Video)

Danielle DiMartino Booth is the founder of Money Strong, LLC, an economic consulting firm. She began her career in New York at Donaldson, Lufkin & Jenrette and Credit Suisse, where she worked fixed income and the public and private equity markets. After work-ing as a financial columnist at the Dallas Morning News, DiMartino Booth spent nine years as an adviser to Richard Fisher at the Federal Reserve Bank of Dallas.

May 13, 2020

Victor Davis Hanson: On Flynn Case, Coronavirus Economy, China’s Culpability & Trump 2020 Prospects (Video)

In this livestream episode, we sit down with classicist and military historian Victor Davis Hanson. He is a senior fellow at the Hoover Institution, farmer, and author of “The Case for Trump.” We’ll discuss the continually unfolding scandal surrounding surveillance of the 2016 Trump campaign, the broader ramifications of this global coronavirus outbreak on the US economy and the US political landscape, the culpability of China’s communist regime, and what role the media has played in all of this.

May 12, 2020

Economist Blasts The Fed, Stimulus, Bitcoin & Makes Bold Predictions (Video)

Peter Schiff, Financial commentator and economist has a virtual sit-down with Patrick Bet-David.