produtos
O economista Alan Blinder, ex-vice-presidente do board do Federal Reserve, lembrou que, no domingo 15 de setembro, a quebra do Lehman Brother completou seu quinto aniversário. Em artigo publicado no Wall Street Journal, Blinder chamou a atenção dos leitores para o contraste entre a reação pronta e implacável do Executivo e do Congresso dos Estados Unidos na Grande Depressão dos anos 30 do século passado e a frouxidão da resposta do governo americano à crise de 2008.
A depressão dos anos 30 mobilizou as reservas democráticas do povo norte-americano. Nos momentos de crise econômica e social, os assim chamados movimentos “populistas” cuidavam de produzir os anticorpos para impedir a falência generalizada dos órgãos devastados pela ganância virulenta do establishment financeiro e corporativo. O sobrinho de Theodore Roosevelt, Franklin Delano, aquele que assumiu o governo do país quando a depressão de 1929 andava brava, tratou de salvar as grandes corporações e os bancos de seus próprios desvarios e preconceitos.
Os bancos relutaram em aceitar a forte intervenção do Estado no sistema financeiro. As medidas brecaram a corrida bancária e deram efetividade à execução de uma política de provimento de liquidez e de direcionamento do crédito em beneficio da recuperação econômica. O grand monde financeiro norte-americano jamais se conformou com a regulamentação imposta aos bancos e demais instituições não bancárias pelo Glass-Steagall Act, no início dos anos 30.
Franklin D. Roosevelt acreditava nos mercados administrados e no controle do capitalismo. O New Deal era visto, naturalmente, com horror por J.P. “Jack” Morgan, o júnior. Em 1935, a multidão de desempregados e empobrecidos vivia dos programas de obras públicas e de assistência social do Estado. Ao desembarcar de uma viagem à Europa, ainda a bordo do Queen Mary, o desastrado herdeiro de John Pierpont proclamou: “Todos os que ganham dinheiro nos Estados Unidos trabalham oito meses por ano para sustentar o governo”. A indignação popular quase incendiou o país.
O historiador Ron Chernow escreve em seu livro The House of Morgan que John Pierpont deixou de ser um indivíduo para tornar-se o símbolo político dos ricos e reacionários que se opunham à justiça social. Advogado formado em Harvard, o conselheiro legal de Roosevelt (mais tarde juiz da Suprema Corte), Felix Frankfurter, escreveu ao presidente: “Quando os homens mais proeminentes do mundo da finança escancaram atitudes moralmente obtusas e antissociais, chega-se à conclusão de que o verdadeiro inimigo do capital não é o comunismo, mas os capitalistas e sua coorte de escribas e advogados”.
A Era Progressiva e o New Deal foram momentos de rebelião democrática e ascensão econômica das massas. Não há como negar que os newdealers estenderam sua influência até os anos 50 e 60, o período da “era dourada” do capitalismo.
A arquitetura capitalista do pós-Guerra permitiu durante um bom tempo a convivência entre estabilidade monetária, crescimento rápido e ampliação do consumo dos assalariados e dos direitos sociais. As políticas favoráveis à manutenção do pleno emprego e ao desenvolvimento econômico estavam ancoradas em sistemas financeiros estritamente controlados pelos bancos centrais nacionais. Nos EUA, a separação entre bancos comerciais, bancos de investimento e seguradoras impediu que os bancos comerciais, responsáveis pela criação de moeda e pelo sistema de pagamentos, se envolvessem em atividades especulativas e arriscadas nos mercados de capitais. O Regulamento Q determinou a imposição de tetos para as taxas de juro. O presidente Roosevelt criou o seguro de depósito, para impedir corridas bancárias.
Na posteridade da crise de 2008, entre tantas loucuras, os apologetas da finança desbragada e seus ideólogos prosseguem em seu empenho de manter os governos sob controle. Tratam de convencer a populaça remediada de que só eles sabem das coisas, são os detentores do monopólio do saber econômico, aqueles capazes de impedir que os “populistas” cometam insanidades.
Como toda loucura, essa também tem método: os mandachuvas devem sempre simular que seu poder é fruto da inteligência. É preciso ocultar que só parecem inteligentes porque têm poder. Os sábios globais continuam a botar banca e a ameaçar os governos e seus povos com as “crises de confiança” que nada mais são do que a reafirmação pura e dura da ditadura de seus interesses ou dos interesses de sua ditadura.
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Ei brother we’art you
Titia não lembra se este é o nome daquela comédia deliciosa com o não menos delicioso George Clooney, ambientada na depressão, e que mistura KKK, com Robert Jhonson…
Mas a imagem veio a mente ao ler o texto…
Por escolha ou desconhecimento (ou escolha em não querer saber) Beluzzo, como bom quatrocentão não foge a raiz e esconde em seu bom texto que a recuperação via New Deal só foi possível com a criminalização e o aprisionamento de milhões de negros, mandados aos trabalhos forçados (rodovias, ferrovias, barragens, e outras enormes obras de investimento públic e privado), onde a escravidão deixou de ser privada para ser estatal.
Mais ou menos como Hitler, Bosch, BMW, Benz, Hoescht “reegueram” a Alemanha com a mão de obra escrava dos campos…
O diabo mora mesmo nos detalhes, não?
a última frase nos textos do Belluzzo: sua marca
“Os sábios globais continuam a botar banca e a ameaçar os governos e seus povos com as “crises de confiança” que nada mais são do que a reafirmação pura e dura da ditadura de seus interesses ou dos interesses de sua ditadura.”
Belluzo com razão
Cara Ivanisa, a frase do Belluzo tem de vir nos dois parágrafos, sozinha perde contexto e sentido.
“Na posteridade da crise de 2008, entre tantas loucuras, os apologetas da finança desbragada e seus ideólogos prosseguem em seu empenho de manter os governos sob controle. Tratam de convencer a populaça remediada de que só eles sabem das coisas, são os detentores do monopólio do saber econômico, aqueles capazes de impedir que os “populistas” cometam insanidades.
Como toda loucura, essa também tem método: os mandachuvas devem sempre simular que seu poder é fruto da inteligência. É preciso ocultar que só parecem inteligentes porque têm poder. Os sábios globais continuam a botar banca e a ameaçar os governos e seus povos com as “crises de confiança” que nada mais são do que a reafirmação pura e dura da ditadura de seus interesses ou dos interesses de sua ditadura.” O estudo do FED que anexei também vai nesta conclusão, que os apologetas das finanças acreditam naquilo que precisam acreditar, quando têm de acreditar.
Campos de trabalhos forçados,
Campos de trabalhos forçados, depois à noite dormindo coletivamente em barracões e quando inservíveis ,câmara de gás. Assim foram seis milhões de negros americanos mandados para os cruéis campos de concentração de Minesota,Arkansas,Colorado,Grêmio e Fluminense.
FDR,não enganava ninguém com aquele bigodinho e comovia os incautos com aquela fajuta cadeira de rodas.Ah! A liás, só a cadeira era autêntica .
Depois,o Truman achou por bem fazer igualmente sua guerrinha e,lá foram os negros para a Coréia….
Mas, isso já é outra história que à noitinha o Baraca conta para impressionar a Michelle insone pelo priapismo de Wall Street.
http://www.dallasfed.org/assets/documents/institute/wpapers/2013
Estou lendo vagarosamente o estudo, mas tendo a concordar com o autor, política monetária não é ciência.
Um proxy muito melhor e mais eficiente, na minha humilde opinião, é o que se vale dos conhecimentos clássicos da Geometria, Tarot e Astrologia.
Pelo menos, para mim, é um auxiliar de valor. Não custa lembrar que o avanço das matemáticas têm posto abaixo os dogmas antingos das políticas monetárias, como sempre lembro aqui no blog, com o uso na economia das matrizes vetoriais aleatórias.
O estudo do Fed : Is Monetary Policy a Science?
The Interaction of Theory and Practice Over the Last 50 Years*
William R. White está aqui
http://www.dallasfed.org/assets/documents/institute/wpapers/2013/0155.pdf
Hungary ends Rothschild IMF
Hungary ends Rothschild IMF Banks: ordered to vacate country
“Give me control over a nations currency, and I care not who
makes its laws.”
~ Baron M.A. Rothschild
Hungary is making history of the first order along with
Iceland & Russia.
Political Vel Craft
Not since the 1930s in Germany has a major European country
dared to escape from the clutches of the Rothschild-controlled
international banking cartels. This is stupendous news that
should encourage nationalist patriots worldwide to increase the
fight for freedom from financial tyranny.
Already in 2011, Hungarian Prime Minister Viktor Orbán
promised to serve justice on his socialist predecessors, who
sold the nation’s people into unending debt slavery under the
lash of the International Monetary Fund (IMF) and the terrorist
state of Israel. Those earlier administrations were riddled with
Israelis in high places, to the fury of the masses, who finally
elected Orbán’s Fidesz party in response.
According to a report on the German-language website “National
Journal,” Orbán has now moved to unseat the usurers from their
throne. The popular, nationalistic prime minister told the IMF that
Hungary neither wants nor needs further “assistance” from that
proxy of the Rothschild-owned Federal Reserve Bank. No longer
will Hungarians be forced to pay usurious interest to private,
unaccountable central bankers.
Instead, the Hungarian government has assumed sovereignty
over its own currency and now issues money debt free, as it is
needed. The results have been nothing short of remarkable.
The nation’s economy, formerly staggering under deep
indebtedness, has recovered rapidly and by means not seen
since National Socialist Germany.
The Hungarian Economic Ministry announced that it has,
thanks to a “disciplined budget policy,” repaid on August
12, 2013, the remaining €2.2B owed to the IMF—well before
the March 2014 due date.
Orbán declared: “Hungary enjoys the trust of investors,” by
which is not meant the IMF, the Fed or any other tentacle
of the Rothschild financial empire. Rather, he was referring
to investors who produce something in Hungary for
Hungarians and cause true economic growth.
This is not the “paper prosperity” of plutocratic pirates, but
the sort of production that actually employs people and
improves their lives.
With Hungary now free from the shackles of servitude to
debt slavers, it is no wonder that the president of the
Hungarian central bank, operated by the government for
the public welfare and not private enrichment, has
demanded that the IMF close its offices in that ancient
European land. In addition, the state attorney general,
echoing Iceland’s efforts, has brought charges against
the last three previous prime ministers because of the
criminal amount of debt into which they plunged the nation.
The only step remaining, which would completely destroy
the power of the banksters in Hungary, is for that country
to implement a barter system for foreign exchange, as
existed in Germany under the National Socialists and
exists today in the Brazil, Russia, India, China and South
Africa, or BRICS, international economic coalition. And
if the United States would follow the lead of Hungary,
Americans could be freed from the usurers’ tyranny and
likewise hope for a return to peaceful prosperity.
Reason U.S. may bomb Syria –
No Rothchild central banking system
The American Economy is Not a
The American Economy is Not a Free-Market Economy
By David Gordon
Mises.org
September 28, 2013
Crony Capitalism in America, 2008-2012. By Hunter Lewis
Those of us who favor the free market must confront a problem. The virtues of the market, and the vices of socialism and interventionism, have been made incontestably clear by Mises, Rothbard, Hazlitt and others. The case for the free market, as these great figures explain it, can readily be grasped and demands no esoteric knowledge. Yet many academics reject the market. They condemn capitalism for leaving many in poverty and for glaring inequalities. How can so many academics fail to grasp what seem to us obvious truths?
In Crony Capitalism, a vital book, Hunter Lewis solves our problem. Those who condemn the free market do so by considering bad features of the present economy, both in the United States and elsewhere in the world. In judging the free market in this way, they rely on an unexamined assumption. They take for granted that the present order of things is the free market in action.
As Lewis explains and documents to the hilt, this assumption is false. What we have today is not the free market but “crony capitalism,” an altogether different matter. Government and business are in a predatory partnership that extracts wealth to its own benefit. The fact that many suffer under the present system should occasion no surprise. Predatory “cronyism” has existed throughout history and has been the main block to economic progress.
Lewis states his arresting thesis in this way: “indeed it may be argued that cronyism is as old as recorded human history and has always been the dominant system. This is precisely why the human race has made so little progress in overcoming poverty. For most of human history, there has been no economic growth at all. People born poor died poor. Whenever economic capital began to be accumulated, it was generally stolen by rulers or their friends or allies.” (p. 9)
Fortunately for the world, supporters of the free market were able in the eighteenth century and after to gain important victories against the older system of predation; but now matters have been reversed, and cronyism is once more the order of the day. In the United States, we no longer live under a predominantly private market. “But taking into account companies and other organizations that are directly or indirectly controlled by the government, it becomes clear that most of the economy is in the ‘public’ sphere.” (p. 12)
The result of this governmental takeover of the economy has predictably been dire. “Many of the new mega rich of the 1990s and 2000s got their wealth through their government connections. Or by understanding how government worked. This was especially apparent on Wall Street. … This was all the more regrettable because, in a crony capitalist system, the huge gains of the few really do come at the expense of the many. There was an irony here. Perhaps Marx had been right all along. It was just that he was describing a crony capitalist, not a free price system, and his most devoted followers set up a system in the Soviet Union that was cronyist to the core.” (p. 17)
Those inclined to dismiss Lewis’s claim as exaggerated must confront the solid body of evidence he amasses. Everyone knows that governmentally-sponsored mortgages helped to fuel the housing bubble that burst in 2008 with disastrous consequences. As Lewis points out, though, the situation is much worse than most people imagined. “By the end of 2007 government-sponsored mortgages accounted for 81% of all the mortgage loans made in the US and by 2010 this had risen to 100%.” (p. 39)
Government dominance is of course bad for the economy, but it works to the benefit of a small group of the powerful. A great strength of the book is that Lewis names names: he tells us who the predators are. “Clinton’s choice for Fannie CEO, Franklin Raines, took away $90 million in pay and stock option gains, in part because of misleading accounting practices. Obama advisor James Johnson took only $21 million. For 2009-2010, the chief executives of Fannie and Freddie got a combined $17 million, even as these organizations were being bailed out. The top six executives got $35 million over the same period.” (p. 45)
An especially glaring example of a predatory partnership between government and business followed the financial collapse of 2008. It was widely alleged that massive government subsidies to prop up failing banks and investment houses were required lest the entire economy be destroyed.[1] “So in the fall of 2008, the US supposedly stood on the edge of an abyss, with a likely shutdown of the entire financial system, and a Depression from which we might never emerge.” (pp. 110-11)
The allegation of imminent collapse served as an excuse for massive transfers of money to a favored few investment bankers. Lewis devotes particular attention to Goldman Sachs. “At the center of Wall Street stands Goldman Sachs, master of the crony influence game.” (p. 86) Lewis devotes six pages of his book to a chart of what he terms the “revolving door” between Goldman Sachs and the government. (pp. 86-91) The result of these close connections, together with the large amount of money spent by Goldman Sachs in lobbying, will occasion no surprise: “Government connections conferred many other benefits … in some areas of the market post-Crash, Goldman Sachs enjoyed what former employee Anthony Scaramucci called a ‘near monopoly.’” (p. 102)
Cronyism extends far beyond the financial sector. Lewis has for many years been active in the natural health movement, and he is thus keenly aware of the manifold ways in which crony capitalism risks our lives, health, and safety in pursuit of profit. Shunning a genuine free market, the predators strike at products that, if widely distributed, would threaten their ill-gotten gains. “In general, the FDA maintains a resolutely hostile stance toward supplements. It will not allow any treatment claims to be made for them, no matter how much science there is to support it, unless they are brought through the FDA approval process and become drugs. … Who can afford to spend up to a billion dollars to win FDA approval of a non-patented substance? The answer is obvious: no one. So the real FDA intent is simply to eliminate any competition for patented drugs, since these drugs pay the Agency’s bills.” (p. 171)
The crony capitalists have naturally enough endeavored to find an ideological justification for their control of the economy. They look down on the masses and allege that only an educated elite is fit to rule. “The implicit skepticism about voters’ ability to make disinterested and sound judgments about where the country should go is certainly nothing new. It is the theme of Plato’s Republic, … by the 20th century, the debate had subtly shifted and … the choice was now between ‘average people’ and ‘smart people,’ or, in the usual formulation, ‘experts.’” (pp. 310-11)
In this controversy, there can be no doubt on which side Hunter Lewis sides. “However bad things have become, the new populist forces may yet prevail and roll back today’s crony capitalist system. If so, it will be the people who have done it, not elitists urging less democracy and more delegation of power to ‘experts.’”
Crony Capitalism and Lewis’s complementary book, Free Prices Now!, are important weapons in this struggle for a genuine free market.
Notes
[1] The fallacies in this all-too-often-repeated claim have been comprehensively set forward by David Stockman, in his magisterial The Great Deformation (Public Affairs Books, 2013), Part I, pp. 3-52.
The German Press Acknowledges
The German Press Acknowledges The Federalization & Death of Democracy in Europe
Now the German press is starting to wake up for the headlines call it “The slow death of democracy in Europe”.
The Greens are losing ground everywhere as economics displaces environmental issues. In Germany, the SPD was reduced to a mere shadow of its former self while the Greens were reduced and the FDP crashed and burned. As reported, the federalization is in full swing despite the promise that would never happen. The gradual shift of power to Brussels is the same trend that emerged in the United States. It is always the same pattern and was self-evident in ancient Rome as well. All political decisions are moving to Brussels and today 90% of all laws in Germany are not the product of the Bundestag, but are the product of Brussels and the EU. We are witnessing the federalization of Europe and the Sovereign Debt Crisis will only get worse as even the German press has begun to notice that there is the federalization of Europe combined with the decline and fall of what they still term “democracy” with the rise of Republicanism..