Feeds:
Posts
Comments

Archive for the ‘Uncategorized’ Category

To listen to my continuing analysis and critique of central banks (and the collapse last week of Banco Popular in Europe), go to my Alternative Visions show of June 9:

Go to:

http://prn.fm/?s=Alternative+Visions

Or go to:

http://alternativevisions.podbean.com

SHOW ANNOUNCEMENT:

In the first half of the show, Dr. Rasmus reviews key economic events of the past week, including the collapseof ‘Banco Popular’ bank in Europe and what it might mean in coming weeks to Europe’s fragile banking system, the emerging problems in Junk Bonds and the retail sector in the US, renewed falling oil prices, the US House passing the ‘Financial Choice Act’ and new bank deregulation, and Turmp’s phony ‘Infrastructure Week’ announced this past week and why ‘infrastructure’ really means privatization. Rasmus then discusses the origins of the US central bank, the Federal Reserve, in 1913 and how central banks evolved out of private banks and still retain deep connections to private banking systems. How the Federal Reserve originated from the Financial Crisis of 1907 and was developed by big New York banks as a way to capture control of a monopoly of a single currency, become the national ‘clearing house’ of all banks, and create an institution, the Fed, that would provide money to bail themselves out during periodic bank crises instead of having to bail themselves. Jack describes the early structure of the Fed, and how it was owned, financed, and directly controlled by the private banks, with the New York Fed operating as the ‘central bank of the central bank’. (Next Week: The Evolution of the Federal Reserve from the great depression to the crash of 2008).

Read Full Post »

To watch my June 6, 2017 Interview on the TV show, ‘Other Voices’, on the Trump Budget’s $1 trillion spending cuts and attack on the working poor, and why central bank monetary policies of 8 years of free money to the banks is the ‘new policy norm’,

Go to:

Or go to:

http://www.peaceandjustice.org/video-war-on-the-poor-and-just-about-everyone-else/

Read Full Post »

Why did the Federal Reserve bail out the banks by 2010 to the tune of more than $10 trillion–and keep providing them free money for the next 7 years? Listen to the first of a four part series by Dr. Rasmus, summarizing his forthcoming June 2017 new book, ‘Central Bankers at the End of Their Ropes? Monetary Policy and the Next Depression’, by Clarity Press, June 2017.

To listen to the Alternative Visions show of June 2 on the Progressive Radio Network on this first of a four part series, go to:

http://prn.fm/?s=Alternative+Visions

Or Go to:

http://alternativevisions.podbean.com

SHOW ANNOUNCEMENT:

Dr. Rasmus begins a four part series examining the role and function of central banks in the global capitalist system, and how that role evolved through the 20th century and is changing again in the 21st. In Part 1 of a proposed four part presentation, Rasmus explains how central banks have been the primary source of runaway money and liquidity generation that is the root cause of accelerating global debt. Debt is but the reflection of the more fundamental problem of excess liquidity creation by central banks since the 1970s. It is liquidity that enables debt accumulation, which then leads to financial asset bubbles, busts, deflation, defaults, which then transmits the crisis to the real side of the economy producing ‘great recessions’ and eventually depressions. Central banks then bail out the banks—injecting still more liquidity again—leading to a renewed cycle of debt, bubbles, and crisis. Rasmus asks why the Fed, which bailed out US banks by 2010 has nonetheless continued for 7 more years providing free money to the banks to the tune of more than $10 trillion? Their ole of central banks has expanded beyond its primary task of bank bailouts this century, Rasmus argues. Continued injection of trillions of free money has become their new 21st century primary function—i.e. to continue to subsidize the financial sector and financial markets (stocks, bonds, derivatives, forex, etc.) . Central banks are evolving, Rasmus argues, along with the rest of the capitalist State toward an ever growing subsidization of Capital in general. Can global capital survive without expanding State subsidization of profits—central banks subsidizing financial markets and finance capital and other sectors of the State other non-financial forms of capital. (Next week Part 2: The origins of the US central bank, its 20th century performance, and why in the 21st it is failing as it evolves toward its new subsidization role).

Read Full Post »

To listen to my analysis of Trump’s budget released this past week–and other recent global and US economic news–listen to my Alternative Visions radio show of May 26, 2017. GO TO

http://alternativevisions.podbean.com

or go to:

http://prn.fm/?s=Alternative+Visions

SHOW ANNOUNCEMENT:

Dr. Rasmus examines the Trump budget released this past week, which is based on a crude restatement of Supply Side economics bullshit that has had no evidence in reality since it was first introduced under Reagan in 1981. Rasmus explains why the budget’s ridiculous assumption of 3-3.5% GDP for the next decade is nonsense. How the budget double counts tax revenues that won’t materialize. And why corporate-business tax cuts historically have not created jobs and won’t this time again. A background to the budget is explained, including how the US neoliberal ‘twin deficits’ of trade deficits enabling budget deficits has worked since 1980 and why falling tax revenues since 2000 accounts for more than 60% of US budget deficits since 2001 along with war spending increases and health care system price gouging. The show previews with a review of last week’s falling oil prices, protests in Greece and Brazil, warnings about China’s business debt and new US economy potholes of collapsing bank lending and stalling home sales. (Next week: Part 1 of a four part series previewing Dr. Rasmus’ new book to be released in June, “Central Bankers at the End of Their Rope: Monetary Policy and the Next Depression”, by Clarity Press—a thorough debunking of central banks and why they are failing).

Read Full Post »

Brazil is transitioning to a greater political crisis based on events of the past week, May 2017. The origins of the political crisis, however, are economic. Business and right wing forces precipitated the legal coup of 2016 to put their political representatives in direct control to enrich themselves again. The coup, however, was made possible only by the Brazilian economy’s deep recession of recent years, which was precipitated by its central bank raising interest rates to 14.25%, in order to prop up the value of its currency and prevent the collapse of assets of the wealthy.

How the Brazilian economy collapsed into recession was addressed in chapter 3, ‘Emerging Markets Perfect Storm’, in my 2016 book, “Systemic Fragility in the Global Economy”, Clarity press, 2016. (see the book icon on the front webpage of this website for reviews and more detail).

To read the chapter’s excerpt on Brazil’s economy, go to the following url to the ‘articles’ subpage on my website.

http://www.kyklosproductions.com/articles.html

Read Full Post »

While pundits, press and politicians hype a US economic recovery underway today, listen to my contrarian view focusing on some of the weakspots in the US economy that may result in a continuation of the sub-par trend that has been the hallmark of the US economy since 2010.

To listen go to:

http://www.alternativevisions.podbean.com

or go to:

http://prn.fm/?s=Alternative+Visions

SHOW ANNOUNCEMENT

Last week the US stock market experienced a major hiccup as it now appears the US economy is softening in areas and the ‘Trump Trade’ may not materialize. Dr. Rasmus explores the soft spots in the US economy in US policy, business spending, household consumption, trade and government spending. Consumer and Corporate debt data released by the NY Federal Reserve raises a red flag. Rasmus explains the relationship between debt, income to service debt, and terms and conditions affecting debt payments and the importance of these relationships to the US economy. Why jobs and real wages are not going to improve much more, why household debt is now greater than in 2008 and business debt twice the levels it was in 2008. Rasmus predicts the US economy will grow less than 2% for the entire year, far less than the Trump administration’s prediction of 3-3.5%, and explains why this will be so. (Next week: review of the Trump final budget proposal of spending cuts, defense spending increases, and tax cuts).

Read Full Post »

Greek people are again protesting against yet another annual tightening of austerity by the Troika. The Syriza government agrees again, as in 2016, 2015, 2012, and 2012 to demands by the Troika to impose even harsher austerity terms.

Watch my 10 minute video interview summarizing the emerging protests and strikes. (Check out my 2016 book, Looting Greece, on this blog)

To watch the interview, go to:

http://newsvideo.su/video/6799384

Read Full Post »

Older Posts »