Forever Under Construction

The Loop

Posted in Economics by homeyra on July 12, 2009

What I don’t get is that all that is not a new discovery. Why it took so long for countries to react to?

Max Keiser: “Economic advisors are getting together as you know and the Indian prime minister has said that “The major part of Indian reserves are in dollars — that is something that’s a problem for us”. As a former economic advisor to governments and presidential candidates yourself, what are your thoughts on the statement coming out of India, the dollar is after all one of this magical money machines.”

Michael Hudson (author, president of The Institute for the Study of Long-Term Economic Trends): “Well India said that as just a week or two ago it met with China and Brazil and Russia in Yekaterinburg to decide “Let’s draw a line and not have any more dollars” so this follows the […] meeting in Yekaterinburg and the decision to say “Wait a minute we are all financing the US treasury and the US treasury is turning that money over to the Pentagon to build military bases around us so if we don’t accept more dollars they are going to attack us We are not going to finance the military surrounding us to force us to accept yet more dollars. We are going to stop the process right now”, and they are stopping the process and they say no more and they realize that the American military machine and the whole empire is based on the ability to produce pure paper and get real resources and to run a huge deficit, largely military since the Korean wars of over fifty years ago and it’s a free lunch and what they are saying is that the free lunch is over.”

Source, third video, minute 5.40


Dr. Paul Graig Roberts: “[…] Countries like China, Japan and OPEC – the oil producing countries – are financing the American wars in the Middle East and the American efforts to destabilize other countries. I am absolutely convinced the Americans will attempt to destabilize China, they’ll try to destabilize Russia, they are destabilizing former constituent parts of the old Soviet Union […] with military bases and the rest of the world is financing that.
So what you say is true, at some point people have to wonder why we are we giving up real goods and services so Americans could conduct wars? […]”

Source, minute 4.40


The New Face of Class War: “Free trade” and “globalization” are the guises behind which class war is being conducted against the middle class by both political parties.

Working for free:

British Airways has asked 40,000 employees to work for free for the month of July
Google is now asking illustrators to work for free


3 Responses

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  1. boogiwoogi said, on July 15, 2009 at 12:16 pm

    One of the things which is not solved for me over time is the idea that the profit is for the owner of the organization but the loss is for the workers. It is the thing some times I’ve asked my bosses “When I’m not shared in the profit why should I be shared for the loss?” But the reality is that workers are not in the situation to ask these things.

  2. homeyra said, on July 22, 2009 at 3:41 am

    That seems the idea Boogi. As they say capitalism for the workers, socialism for the rich!

  3. jo6pac said, on August 9, 2009 at 1:05 am

    That seems the idea Boogi. As they say capitalism for the workers, socialism for the rich!

    I ‘m lucky I still have my blue collar job in the us but more and more it’s work long hours for free. Oh sure.
    It’s the milton friedmand money policy, a sad day for workers around the world.

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