When two smart fellas don’t know, and Bernanke doesn’t know, what will happen?
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Mark Murray - Clinton: No one could have restored economy to full health in 4 years What I [Clinton] can do….is explain why I think his approach is right and it’ll pay off if we renew his contract. [What I can do is] explain why the economy he faced was much weaker and different than the […]
This is pure politics, plain and simple: put it off for as long as possible and then, maybe it will disappear altogether. Or at least until after the next election when the landscape could be altered significantly – in favor of the banks.
For a while there it looked like efforts to keep this meeting quiet were succeeding. And then Media Research picked it up, and any “cover” was blown. How important the meeting will be remains to be seen. What is comforting is the power of the internet to expose backroom machinations like this one in advance.
Many conservatives genuflect at the shrine of Reagan, perceiving him to be the best conservative President in many years. A little closer look reveals his feet of clay. It’s hard to determine intentions, of course, but the fact was that he was heavily influenced by progressives and neo-cons, leaving behind only the image of a conservative trying to do his best.
Volcker’s bona fides as an insider are impeccable: degrees from Princeton and Harvard, then two years at the London School of Economics, followed by 5 years as an economist at the Federal Reserve Bank of New York and then joining the Rockefeller Family’s Chase Manhattan Bank.
For instance, when the 10 countries cited in the study first inflicted a VAT on their citizens, the initial rate was 10.7 percent. Today it is 16 percent. Among the 30 OECD countries, the average VAT is 18 percent. And Great Britain’s VAT will increase on January 1 to 20 percent.
New York Governor David Paterson said in a radio interview on June 10 that his state might have to issue IOUs to pay its bills, or else face “anarchy in the streets.” The state faces a $9.2 billion deficit, and the legislature is two months late in voting on the budget.
This article was published a few days ago at The New American. The feedback I got was generally favorable. My primary regret is that the article made it sound like this was a done deal. But I think with all the attention the VAT is getting, and as suspicious as so many people are about the Obama administration, it might be a lot harder to push through, even during the lame duck session, than it appears. I’m ever hopeful…