Fellow "Muppets", Michael Hudson says a lot in this interview with Ben Norton, with full transcript. A quick overview. Thanks Christine. Today's banking crisis stems from the "fixes" of 2008-2009, when the correction in asset-prices, like mortgages and mortgage-backed securities, was prevented. The Fed bought all of the trash at face value and held it, then lowered interest rates and kept buying trash, in order to inflate asset prices up to the price they paid for the trash. This was the opposite of what Obama had promised, writing-down mortgages and mortgage payments.
Thx Doc ! Thought I had lost all reason to live & you remind me with this long list of faults existing in the present world ...... We have some hope .... We have some purpose ! IF ALL WE SEE , is NOT, a good reason to drink ...... then drink we will ..... You've given us all a reason to live , I'll drink to that ............. Thx Doc ....... Do you know it's St.Patricks Day ........... You're falling behind & I am buying the next round ............ Nick , NavyBlueSmoke , LST-1195
Very interesting the story about the plane sabotage. I hadn't heard anything about it even in independent media, which tells you something right there.
I will gladly pay you Tuesday for a hamburger today, or let's just kick the can down the road (oops they ran out of road)
Thx Doc ! Thought I had lost all reason to live & you remind me with this long list of faults existing in the present world ...... We have some hope .... We have some purpose ! IF ALL WE SEE , is NOT, a good reason to drink ...... then drink we will ..... You've given us all a reason to live , I'll drink to that ............. Thx Doc ....... Do you know it's St.Patricks Day ........... You're falling behind & I am buying the next round ............ Nick , NavyBlueSmoke , LST-1195
Very interesting the story about the plane sabotage. I hadn't heard anything about it even in independent media, which tells you something right there.
Did the propping up of trash assets have the side effect of suppressing commodities, or was that deliberate?