Euro zone unemployment just hit a 15-year high. German unemployment just hit a 15-year low. What can those of us across the Atlantic glean from this seemingly bipolar state of affairs? That austerity, every economic conservative’s favorite prescription for an ailing economy — the medicine Republicans here in the United States are pushing hard — is an utter disaster.
A few euro zone members, including Germany and the Netherlands, are enjoying a relative jobs boom. And yet, europe’s overall unemployment rate is 10.8 percent. How is this possible? Because of depression-level unemployment in Europe’s austerity-plagued periphery. […]
This should put to rest the notion of “expansionary austerity” — that is, that budget cuts can spur growth by giving businesses increased confidence. It has been an epic, epic failure with interest rates at zero. The more a country has cut, the more unemployment it has. Greece, Spain, Portugal and Ireland have all had markets (and Germany) force them to radically reduce deficits amidst already deep slumps. The result has been even deeper slumps. Joblessness has jumped to levels not seen in advanced countries since the 1930s.
Read more. [Image: Eurostat]
I know that it is a hopeless undertaking to debate about fundamental value judgments. For instance, if someone approves, as a goal, the extirpation of the human race from the earth, one cannot refute such a viewpoint on rational grounds. But if there is agreement on certain goals and values, one can argue rationally about the means by which these objectives may be attained. Let us, then, indicate two goals which may well be agreed upon by nearly all who read these lines.
1. Those instrumental goods which should serve to maintain the life and health of all human beings should be produced by the least possible labor of all.
2. The satisfaction of physical needs is indeed the indispensable precondition of a satisfactory existence but in itself is not enough. In order to be content, men must also have the possibility of developing their intellectual and artistic powers to whatever extent accords with their personal characteristics and abilities.
The first of these two goals requires the promotion of all knowledge relating to the laws of nature and the laws of social processes, that is, the promotion of all scientific endeavors. For scientific endeavor I a natural whole, the parts of which mutually support one another in a way which, to be sure, no one can anticipate. However, the progress of science presupposes the possibility of unrestricted communication of all results and judgments-freedom of expression and instruction in all realms of intellectual endeavor. By Freedom I understand social conditions of such a kind that the expression of opinions and assertions about general and particular matters of knowledge will not involve dangers or serious disadvantages for him who expresses them. This freedom of communication is indispensable for the development and extension of scientific knowledge, a consideration of much practical import. In the first instance it must be guaranteed by law. But laws alone cannot secure freedom of expression; in order that every man may present his views without penalty, there must be a spirit of tolerance in the entire population. Such an ideal of external liberty can never be fully attained but must be sought unremittingly if scientific thought, and philosophical and creative thinking in general, are to be advanced as far as possible.
If the second goal, that is, the possibility of the spiritual development of all individuals, is to be secured, a second kind of outward freedom is necessary. Man should not have to work for the achievement of the necessities of life to such an extent that he has neither time nor strength for personal activities. Without this second kind of outward liberty, freedom of expression is useless for him. Advances in technology would provide the possibility of this kind of freedom if the problem of a reasonable division of labor were solved.
The development of science and of the creative activities of the spirit in general requires still another kind of freedom, which may be characterized as inward freedom. It is the freedom if the spirit which consists in the independence of thought from the restrictions of authoritarian and social prejudices as well as from unphilosophical routinizing and habit in general. This inward freedom is an infrequent gift of nature and a worthy objective for the individual. Yet the community can do much to further this achievement, too, at least by not interfering with the development of inward freedom through authoritarian influences and through imposing on young people excessive spiritual burdens; on the other hand, schools may favor such freedom by encouraging independent thought. Only if outward and inner freedom are constantly and consciously pursued is there a possibility of spiritual development and perfections and thus of improving man’s outward and inner life.
From Freedom, Its Meaning, edited by Ruth Nanda Anshen, New York: Harcourt, Brace and Company, 1940. Translated by James Gutmann.
According the the Wall Street Journal, there are going to be some (more) major problems with the US economy if the current practices continue, specifically the recent interest the Federal Reserve has in gobbling up U.S. Treasury debt.
As the article states, the Fed has been buying quite a bit of our sovereign debt, masking the severity of the problems we are facing. In 2011, Bernanke’s corrupt organization bought 61% of the total net treasury issuance, which are usually bought by foreign investors who no longer see US debt as a safe investment. From the article: “The Fed is in effect subsidizing U.S. government spending and borrowing via expansion of its balance sheet and massive purchases of Treasury bonds. This keeps Treasury interest rates abnormally low, camouflaging the true size of the budget deficit.”
For those of you who don’t know too much about the Federal Reserve, start digging. It won’t take long to see how messed up it is.
The Fed, as the central bank of the U.S, has a monopoly over the US currency market. They are are only ones allowed to print US dollars and anyone else who tries to create a competing currency gets thrown in jail by the United States. If the U.S. government needs cash, then they go to the Fed and ask for a loan. The Fed fires up their press and prints the money (now, the majority of these transactions are done digitally, with no paper money involved), but has absolutely nothing to back up it’s value. It’s printing new money out of thin air, very effectively inflating our currency with every bill it prints and devaluing all of our existing money, including that $20 in your wallet.
After creating value out of nothing, they hand it over to the U.S. within the false pretense of a loan that must be paid back, with interest. “But wait,” you ask, “if we get all of our cash from the Federal Reserve, how can we possibly pay all these loans back with interest?” Good question. We can’t. We would only ever be able to pay back the principal. The principal of these loans is literally every single dollar in circulation. Every single dollar that exists is simply they money that the Fed printed up out of nothing and gave to the US government. In effect, all of our currency is backed by it’s own debt.
The interest on these loans doesn’t even exist and can never exist. It’s a system that is intentionally and systematically designed to transfer the real wealth of our nation to the Federal Reserve, which is not even a government entity. It is, pure and simple, a business. A business, like any other, that is interested in one thing: profits. And they’ve found the best way to do it, simply print it out of nothing, then loan it to the government with no way of paying it back, giving you all the power over time.
Starting to see how absurd this system is?
Let’s sum it up: The Fed prints money for free, sells it to us with interest, then when we can’t pay back the debt which is literally impossible to do, they print more free money to buy up the debt that we already owe them.
We’re in big trouble folks. Our economy is failing and we’re covering up our debt with tricky accounting and shady, unethical practices. It won’t be much longer before it comes back to bite them in the ass, and no doubt they’ll pass on that burden to us just like they have everything else.
Are you mad yet?
Now get up and do something about it.
Well Lets not be so pessimistic here…. Today Oil was Discovered In Kenya. Fist off, and don’t Judge a Tumblr post by its title, which is admittedly hard to do. Stay with me here; this will be a great way for the Kenyan government to gain stability and earn some cash, which it can use to improve its infrastructure and connect itself with the modern industrial world….
But lets face it, that’s not always a good thing. Oil is vital for any developed Country on the face of this planet today … (hopefully not for long). With that being said, there are going to be many nations trying to get their hands on it though unethical means.
Horn Petroleum (http://bit.ly/GSKnnI) who currently owns the majority share of the parent drilling company In Kenya, African Oil, is booming, as their stock indicates in the link above. Since this process is currently new and the Kenyans posses only one oil refinery, we must therefore deduce that they will follow the trend of most other nations possessing oil, and sell it, as crude. This is very Important, since Canada has been exporting more and more of its crude oil too the US over the 2 decades. In 1993 Canada exported less than a half billion barrels to the US, which is dwarfed by the 2011 rate, approaching 2 billion. (http://bit.ly/GTlINY)
Well what does that mean you ask? Good news for the short term. And not just for our selfish selves. Today also, there has been discovery of oil in Uganda. In both of these countries, I’m sure you will see a definite enlightenment.
Oil Exports = Profits = Access to previously inaccessible aspects of Civilization
That could include the growth of food and housing, education, infrastructure, influence over the global market, and a chance to move their Countries into the ultra modern age of which we find ourselves today.
This however, is in an Ideal world. And as we so often know, this world is far from idilic.
There are many problems that must first be addressed: Control, regulation, and the minimization of corruption. The opportunity is too great, the pay off is too tremendous, to let this beautiful region drift off into the cold clutches of multibillion dollar oil industry.
At this point we find ourselves traveling into the unknown. Nothing is certain, but we will soon find out.
There is something terribly wrong with the world we live in. You can feel it, can’t you? We have become masters of our own illusion, letting brutes tell us what to do and how to think, but their time is ending. We are beginning to realize the way things are not the way things should be.
We can no longer afford the convenience of sitting idly by while everything that makes humanity great is being ripped away from us. Don’t accept things the way they are. Don’t retreat to the safety of the shadows because soon, that too will be taken from you and it will be too late. Tell those who control us that we will no longer allow their destructive influence over our society.
Wake up. Our time has come. Join our fight. If you are living on this earth then you are already one of us. We do not exclude. We do not discriminate. We do not hate. We are everyone. We fight for a future worth living for. We are the Tomorrow People.