NO RECOVERY FOR ECONOMY OR U. S. A.
By Wayne Jett © August 25, 2010
By Wayne Jett © August 25, 2010
Classical economic analysis here has forecast, time after time after time,
no recovery is near for the U. S. economy. Severe economic
contraction is resulting from destructive federal policies which remain
uncorrected. This is man-made depression, as was the Great Depression,
with victims of all ages increasing by millions as political leaders
diddle, distract and delay. Constitutional government, meanwhile, is
stuffed in a sack and drowning in debt as we watch. Complete text here.
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CORPORATIONS, POLITICS
and the MIDDLE CLASS
By Wayne Jett © July 29, 2010
and the MIDDLE CLASS
By Wayne Jett © July 29, 2010
Without political rights, the middle class would not exist. Without
corporations, middle class standards of living would be lower.
Corporations are the invention and tool of the middle class, which
explains why corporations are constantly assaulted by the dominant
mercantilist elite. But then, many mistakenly think corporations are the
mercantilist elite. Complete text here.
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CONGRESS
PUNTS INVESTORS
No Jobs, No Recovery, No Reform, No Justice
By Wayne Jett © July 1, 2010
No Jobs, No Recovery, No Reform, No Justice
By Wayne Jett © July 1, 2010
Little change or hope is delivered to equity investors by the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 passed
by the House on June 29. Fraudulent, manipulative sales of non-existent
corporate shares will continue in U. S. financial markets the next two
years while the Securities & Exchange Commission studies “the
failure to deliver shares sold short” or “delivery of shares on the
fourth day following the short sale transaction.” Congress, like the
SEC, is captive of Wall Street predators, who take buyers’ money,
deliver nothing and drive down share prices. Complete text here.
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EUROPE, U. S. UNDER SIEGE
Republics May Fall to Financial Assaults
By Wayne Jett © June 19, 2010
Republics May Fall to Financial Assaults
By Wayne Jett © June 19, 2010
There is no joy in Mudville, but it’s not about baseball. Financial
predators are cold-bloodedly sucking life-juices from bone and marrow of
Western Civilization. Where is the U. S. government in this historic
episode of wanton criminality? The U. S. is acting, not as the world’s
policeman, but as captive enabler of the predators. Complete text here.
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FINANCIAL FRAUD
AS GLOBAL MACRO-FORCE
AS GLOBAL MACRO-FORCE
By Wayne Jett © May 20, 2010
Financial fraud drove the U. S. and global
economic collapses of 2008, and continues unabated. A U. S. Senate
sub-committee heard
testimony May 5 titled “The Role of Fraud in the Financial Crisis” by a
notable Keynesian, James K. Galbraith. Galbraith called economics “a
disgraced profession” for failing to study financial fraud. He said the
heart of the U. S. financial crisis was “a breakdown in the rule of law
in America.” However, there is a catch. Complete text here.
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FINANCIAL
TOWERS OF BABEL
Goldman Sachs, SEC, Federal Reserve,
Treasury, Congress, White House
By Wayne Jett © April 20, 2010
Goldman Sachs, SEC, Federal Reserve,
Treasury, Congress, White House
By Wayne Jett © April 20, 2010
Last Friday, the Securities & Exchange Commission filed a civil
complaint in Manhattan federal court alleging Goldman Sachs and one of
its junior executives engaged in fraud in 2007 enabling one party, J. P.
Paulson & Co., Inc., to gain about $1 billion from other Goldman
clients. On Tuesday, Goldman announced
first quarter 2010 earnings up 91% at $3.46 billion after compensating
insiders $5.49 billion, 43% of revenues.
Some may insist the two events are unrelated, but they are not. Goldman took $9 billion from financial markets for its operators and investors during the past three months. This is $3 billion per month, or about $140 million per trading day. They do this, the public is told, by being smarter and quicker than everyone else, but their practices are secret. Complete text here.
Some may insist the two events are unrelated, but they are not. Goldman took $9 billion from financial markets for its operators and investors during the past three months. This is $3 billion per month, or about $140 million per trading day. They do this, the public is told, by being smarter and quicker than everyone else, but their practices are secret. Complete text here.
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MOTHER OF
ALL FRAUDS
Gold and Silver Sales Not Really "Physical"
By Wayne Jett
© April 6, 2010
U. S. and London markets sell “physical” gold and silver to buyers
without actually owning or delivering the metal. Buyers hedging against
currency inflation by owning precious metal in fact get only a contract
right to sue the seller. Some say the Federal Reserve is cooperating
with these practices to suppress the price of gold – strengthening the
dollar artificially by creating illusory supply.Gold and Silver Sales Not Really "Physical"
By Wayne Jett
© April 6, 2010
Giant financial firms engage in deceptive practices at every point of the compass, so there is reason to question what point is served by identifying yet another fraud. But this fraud, if true, is so big the largest banks, the dollar, the Federal Reserve and the U. S. government are at great risk of falling, near term. Complete text here.
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REMEMBER
NOVEMBER, 1938
Democrats Lost 81 House Seats
By Wayne Jett © March 12, 2010
Democrats Lost 81 House Seats
By Wayne Jett © March 12, 2010
Herbert Hoover did two big, bad things as U. S. president. He signed
the Smoot-Hawley Tariffs Act which wrecked global trade, and he signed
the Revenue Act of 1932 which quadrupled income tax rates for most
Americans effective January 1, 1932. Voters drummed Hoover out of office
in November, 1932, and sent Franklin Roosevelt to the White House to
fix those two bad things.
Roosevelt did the opposite. He torpedoed his own delegation at the July 1933 conference to reduce tariffs and stabilize currencies, and he raised taxes every year his first six years as president. In federal elections of 1938, Democrats lost 81 seats in the House, eight Senate seats and 13 governorships. Complete text here.
Roosevelt did the opposite. He torpedoed his own delegation at the July 1933 conference to reduce tariffs and stabilize currencies, and he raised taxes every year his first six years as president. In federal elections of 1938, Democrats lost 81 seats in the House, eight Senate seats and 13 governorships. Complete text here.
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From the Front
ELITIST AGENDA ADVANCES
By Wayne Jett © March 1, 2010
By Wayne Jett © March 1, 2010
The social agenda propagandized by H. G. Wells in the early 20th
Century is on the march 100 years later, most importantly in the U. S.
“Social” in this sense has everything to do with economics and finance,
as the dominant elite use powerful influence emanating from their vast
capital to press for control of health care access, control of energy
use and subjugation of the middle class. The middle class stirs,
uncontrollable factors present setbacks, but the elitist onslaught
advances. Complete text here.
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BERNANKE AND THE BOSS
Chairman Begins Second Term on Precipice
By Wayne Jett © February 3, 2010
Chairman Begins Second Term on Precipice
By Wayne Jett © February 3, 2010
After one term as chairman of the Federal Reserve, Ben Bernanke knows
who is boss. The chairman of the Fed is not the boss, nor is Congress,
nor the president. He learned in those 2008 meetings when Henry Paulson
announced the fates of Bear Stearns, Fannie Mae, Freddie Mac, Lehman
Bros. and AIG. The Wall Street players called the shots. Bernanke
funded their game. Complete text here.
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FEDERAL ECONOMIC TRAIN WRECK
Nearing IMF’s Grasp; Loving a VAT
By Wayne Jett © January 26, 2010
Nearing IMF’s Grasp; Loving a VAT
By Wayne Jett © January 26, 2010
The Train Wreck Conference on the federal fiscal crisis is now online.
Viewing the slides, if not listening to oral remarks, of the morning
panels will inform you the academic presenters are convinced beyond
doubt the U. S. Treasury will default on its debt. The remaining
question is whether default will occur mid-term (within ten years) or
near-term (any day now), which depends upon whether policy execution
provokes a run on the dollar. Complete text here.
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FINANCIAL FRAUD
THREATENS BREAKOUT
House May Confront Wall Street on Manipulation
By Wayne Jett © January 21, 2010
THREATENS BREAKOUT
House May Confront Wall Street on Manipulation
By Wayne Jett © January 21, 2010
Last Friday at a national conference on the approaching “train wreck”
of U. S. fiscal default, not one of two dozen assembled academics
offered a thought on the significance of financial fraud in the global
economic collapse of 2008. They could get an idea by interviewing Rep.
Mike Capuano (D-MA), who summed
up the reason for Scott Brown’s upset Senate seat win in these terms:
“If the White House won’t confront Wall Street, the House should do it
for them.” Complete text here.
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