Saving the Rich and Losing the Economy

Economic policy in the United States and Europe has failed, and people are suffering.

Economic policy failed for three reasons:  (1) policymakers focused on enabling offshoring corporations to move middle class jobs, and the consumer demand, tax base, GDP, and careers associated with the jobs, to foreign countries, such as China and India, where labor is inexpensive; (2) policymakers permitted financial deregulation that unleashed fraud and debt leverage on a scale previously unimaginable; (3) policymakers responded to the resulting financial crisis by imposing austerity on the population and running the printing press in order to bail out banks and prevent any losses to the banks regardless of the cost to national economies and innocent parties.

Jobs offshoring was made possible because the collapse of the Soviet Union resulted in China and India opening their vast excess supplies of labor to Western exploitation. Pressed by Wall Street for higher profits, US corporations relocated their factories abroad.  Foreign labor working with Western capital, technology, and business know-how is just as productive as US labor. However, the excess supplies of labor (and lower living standards) mean that Indian and Chinese labor can be hired for less than labor’s contribution to the value of output. The difference flows into profits, resulting in capital gains for shareholders and performance bonuses for executives.

As reported by Manufacturing and Technology News (September 20, 2011) the Quarterly Census of Employment and Wages reports that in the last 10 years, the US lost 54,621 factories, and manufacturing employment fell by 5 million employees.  Over the decade, the number of larger factories (those employing 1,000 or more employees) declined by 40 percent.  US factories employing 500-1,000 workers declined by 44 percent, those employing between 250-500 workers declined by 37 percent, and those employing between 100-250 workers shrunk by 30 percent.

These losses are net of new start-ups. Not all the losses are due to offshoring. Some are the result of business failures.

US politicians, such as Buddy Roemer, blame the collapse of US manufacturing on Chinese competition and “unfair trade practices.”  However, it is US corporations that move their factories abroad, thus replacing domestic production with imports. Half of US imports from China consist of the offshored production of US corporations.

The wage differential is substantial. According to the Bureau of Labor Statistics, as of 2009, average hourly take-home pay for US workers was $23.03. Social insurance expenditures add $7.90 to hourly compensation and benefits paid by employers add $2.60 per hour for a total labor compensation cost of $33.53.

In China as of 2008, total hourly labor cost was $1.36, and India’s is within a few cents of this amount. Thus, a corporation that moves 1,000 jobs to China saves $32,000 every hour in labor cost. These savings translate into higher stock prices and executive compensation, not in lower prices for consumers who are left unemployed by the labor arbitrage.

Republican economists blame “high” US wages for the current high rate of unemployment.  However, US wages are about the lowest in the developed world. They are far below hourly labor cost in Norway ($53.89), Denmark ($49.56), Belgium ($49.40), Austria ($48.04), and Germany ($46.52).  The US might have the world’s largest economy, but its hourly workers rank 14th on the list of the best paid. Americans also have a higher unemployment rate. The “headline” rate that the media hypes is 9.1 percent, but this rate does not include any discouraged workers or workers forced into part-time jobs because no full-time jobs are available.

The US government has another unemployment rate (U6) that includes workers who have been too discouraged to seek a job for six months or less.  This unemployment rate is over 16 percent.  Statistician John Williams ( estimates the unemployment rate when long-term discouraged workers (more than six months) are included. This rate is over 22 percent.

Most emphasis is on the lost manufacturing jobs. However, the high speed Internet has made it possible to offshore many professional service jobs, such as software engineering, Information Technology, research and design. Jobs that comprised ladders of upward mobility for US college graduates have been moved offshore, thus reducing the value to Americans of many university degrees.  Unlike former times, today an increasing number of graduates return home to live with their parents as there are insufficient jobs to support their independent existence.

All the while, the US government allows in each year one million legal immigrants, an unknown number of illegal immigrants, and a large number of foreign workers on H-1B and L-1 work visas. In other words, the policies of the US government maximize the unemployment rate of American citizens.

Republican economists and politicians pretend that this is not the case and that unemployed Americans consist of people too lazy to work who game the welfare system.  Republicans pretend that cutting unemployment benefits and social assistance will force “lazy people who are living off the taxpayers” to go to work.

To deal with the adverse impact on the economy from the loss of jobs and consumer demand from offshoring, Federal Reserve chairman Alan Greenspan lowered interest rates in order to create a real estate boom. Lower interest rates pushed up real estate prices. People refinanced their houses and spent the equity. Construction, furniture, and appliance sales boomed.  But unlike previous expansions based on rising real income, this one was based on an increase in consumer indebtedness.

There is a limit to how much debt can increase in relation to income, and when this limit was reached, the bubble popped.

When consumer debt could rise no further, the large fraudulent component in mortgage-backed derivatives and the unreserved swaps (AIG, for example) threatened financial institutions with insolvency and froze the banking system. Banks no longer trusted one another. Cash was hoarded. Treasury Secretary Paulson, browbeat Congress into massive taxpayer loans to financial institutions that functioned as casinos.  The Paulson Bailout (TARP) was large but insignificant compared to the $16.1 trillion (a sum larger than US GDP or national debt) that the Federal Reserve lent to private financial institutions in the US and Europe.

In making these loans, the Federal Reserve violated its own rules. At this point, capitalism ceased to function. The financial institutions were “too big to fail,” and thus taxpayer subsidies took the place of bankruptcy and reorganization.  In a word, the US financial system was socialized as the losses of the American financial institutions were transferred to taxpayers.

European banks were swept up into the financial crisis by their unwitting purchase of the junk financial instruments marketed by Wall Street. The financial junk had been given investment grade rating by the same incompetent agency that recently downgraded US Treasury bonds.

The Europeans had their own bailouts, often with American money (Federal Reserve loans). All the while Europe was brewing an additional crisis of its own. By joining the European Union and (except for the UK) accepting a common European currency, the individual member countries lost the services of their own central banks as creditors.

In the US and UK, the two countries’ central banks can print money with which to purchase US and UK debt.  This is not possible for member countries in the EU.

When financial crisis from excessive debt hit the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) their central banks could not print euros in order to buy up their bonds, as the Federal Reserve did with “quantitative easing.” Only the European Central Bank (ECB) can create euros, and it is prevented by charter and treaty from printing euros in order to bail out sovereign debt.

In Europe, as in the US, the driver of economic policy quickly became saving the private banks from losses on their portfolios.  A deal was struck with the socialist government of Greece, which represented the banks and not the Greek people. The ECB would violate its charter and together with the IMF, which would also violate its charter, would lend enough money to the Greek government to avoid default on its sovereign bonds to the private banks that had purchased the bonds.  In return for the ECB and IMF loans and in order to raise the money to repay them, the Greek government had to agree to sell to private investors the national lottery, Greece’s ports and municipal water systems, a string of islands that are a national preserve, and in addition to impose a brutal austerity on the Greek people by lowering wages, cutting social benefits and pensions, raising taxes, and laying off or firing government workers.

In other words, the Greek population is to be sacrificed to a small handful of foreign banks in Germany, France, and the Netherlands.

The Greek people, unlike “their” socialist government, did not regard this as a good deal. They have been in the streets ever since.

Jean-Claude Trichet, head of the ECB, said that the austerity imposed on Greece was a first step.  If Greece did not deliver on the deal, the next step was for the EU to take over Greece’s political sovereignty, make its budget, decide its taxation, decide its expenditures, and from this process squeeze out enough from Greeks to repay the ECB and IMF for lending Greece the money to pay the private banks.

In other words, Europe under the EU and Jean-Claude Trichet is a return to the most extreme form of feudalism, in which a handful of rich are pampered at the expense of everyone else.

This is what economic policy in the West has become—a tool of the wealthy used to enrich themselves by spreading poverty among the rest of the population.

On September 21 the Federal Reserve announced a modified QE 3. The Federal Reserve announced that the bank would purchase $400 billion of long-term Treasury bonds over the next nine months in an effort to drive long-term US interest rates even further below the rate of inflation, thus maximizing the negative rate of return on the purchase of long-term Treasury bonds. The Federal Reserve officials say that this will lower mortgage rates by a few basis points and renew the housing market.

The officials say that QE 3, unlike its predecessors, will not result in the Federal Reserve printing more dollars in order to monetize US debt.  Instead, the central bank will raise money for the bond purchases by selling holdings of short-term debt. Apparently, the Federal Reserve believes it can do this without raising short-term interest rates, because back during the recent debt-ceiling-government-shutdown-crisis, the Federal Reserve promised banks that it would keep the short-term interest rate (essentially zero) constant for two years.

The Fed’s new policy will do far more harm than good.  Interest rates are already negative. To make them more so will have no positive effect. People aren’t buying houses because interest rates are too high, but because they are either unemployed or worried about their jobs and do not see a recovering economy.

Already insurance companies can make no money on their investments. Consequently, they are unable to build their reserves against claims. Their only alternative is to raise their premiums.  The cost of a homeowner’s policy will go up by more than the cost of a mortgage will decline. The cost of health insurance will go up. The cost of car insurance will rise. The Federal Reserve’s newly announced policy will impose more costs on the economy than it will reduce.

In addition, in America today savings earn nothing.  Indeed, they produce an ongoing loss as the interest rate is below the inflation rate. The Federal Reserve has interest rates so low that only professionals who are playing arbitrage with algorithm programmed computer models can make money. The typical saver and investor can get nothing on bank CDs, money market funds, municipal and government bonds.  Only high risk debt, such as Greek and Spanish bonds, pay an interest rate that is higher than inflation.

For four years interest rates, when properly measured, have been negative. Americans are getting by, maintaining living standards, by consuming their capital. Even those with a cushion are eating their seed corn. The path that the US economy is on means that the number of Americans without resources to sustain them will be rising. Considering the extraordinary political incompetence of the Democratic Party, the right-wing of the Republican Party, which is committed to eliminating income support programs, could find itself in power. If the right-wing Republicans implement their program, the US will be beset with political and social instability.  As Gerald Celente says, “when people have nothing left to lose, they lose it.”

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Paul Craig Roberts

Dr. Paul Craig Roberts attended four of the finest universities, studied under two Nobel Prize-winners in economics, authored 20 peer-reviewed articles in journals of scholarship, and published four academic press peer-reviewed books, including Harvard and Oxford Universities, and seven commercially published books. His most recent book is The Neoconservative Threat to World Order: Washington's Perilous War for Hegemony

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  • Edward

    It seems to me that the main reason for our current difficulties in Europe and America boils down to two simple things:
    1. For about forty years 1950-2000 those looking for higher profits took the excess jobs to the cheap labour (outsourcing) thereby having little effect on the home jobs market. But a major shift occurred when major companies decided that it would be cheaper to bring the cheap labour to the jobs thereby:
    2.Creating chaos – effectively abolishing unions, import tariffs and immigration controls.

  • Louise Wilde

    Edward: The writer of this article made it abundantly clear that there has been a major loss of American jobs in both manufacturing and professional service jobs as a result of outsourcing jobs to countries where there is extremely cheap labor.

    The author even said that the American consumer does not benefit from a big drop in the price of these foreign produced goods. The big savings go to stock holders and the CEO’s.

    Furthermore, it is Paul Craig Robert’s opinion that if Republicans are enabled to eliminate income support programs, our nation will “be beset with political and social instability.” Many Americans “will have nothing left to lose.”

  • Mr. Roberts’ article covers an important topic, the continuing financial and economic crisis. However, it is also seems to me that it lacks coherent organization. Since I happen to agree with many of the views he presents,I want to comment on the positions and to clarify some of the policy issues. Where necessary I will indicate where I disagree.

    The author blames the crisis on 3 causes. Let’s examine them one by one. The first of these, he states, is that economic policies have in fact encouraged the export of jobs to low cost emerging economies. There is no question that indeed jobs both in manufacturing and services have shifted to China and India in particular. Whether this has been due to policies that encouraged the transition is less clear. Perhaps Mr. Roberts wishes to say that policies have failed to discourage the export of jobs as proposed by some populist political voices. Such policies, if implemented however, would surely result in retaliation and a deeper global economic crisis. Such were the policy choices of nations in response to the great depression that resulted in a much deeper and longer period of deflation than might otherwise have occured.

    We increasingly live in a global market place. consequently jobs will realistically migrate to lower cost locations. such a transition occured decades ago within the US when manufacturing plants were relocated from the industrial North to States in the South with favorable tax and legislative environments. The process today with the migration of jobs to low cost countries is still in its early stages and will take a good deal longer to play out before a new equilibrium is reached. Economic policies that restrict the transfer of jobs would most certainly retard growth in the developing country, but very likely retard growth in the US as well.

    We need to recognize that all economic growth is postulated upon productivity growth. Of course there are class conflicts in play here as well. But the policies the world needs are those that encourage an increase in global trade and interdependence. And policies need to be coordinated as best possible between nations on a global basis. Unfortunately Mr. Roberts article is less than clear on this need and could be interpreted as a call for restrictions on trade, although he quite rightly points out the fallacies of Republicans on the issue.

    The second cause he suggests is the deregulation of financial markets. here I am full agreement. Deregulation came too fast and went too far, leaving banks to self regulate their activities. Clearly the mortgage bubble would not have happened if bank examiners had been present together with authority to downgrade assets and with regulations in place to back them up. But I must say that I am curious as to why an author who prides himself on his record as a supply-side economist would take such a stand. It was those very economists that led the trend to lower taxes and less regulation. Mr. Roberts, have you had a change of heart?

    The third cause according to the author is twofold, austerity for the population and bail out for the banks. It is a pity that these are thrown in together, because they represent different policy responses at different stages of the crisis. Saving the banking system was a necessary policy response in the midst of the crisis. In fact the decision to allow Lehman’s to collapse was a factor in deepening the crisis. Had governments in Europe and the US failed to prop up the banks there would have been a far deeper economic contraction. The failure however to simultaneously implement a broad mix of new regulations on financial institutions was an enormous mistake that will haunt us until the next inevitable crisis. Still it is a mistake for the author to talk about bailing out the banks in a populist rhetoric. In fact the US has largely exited its investments in banks under the TARP at a modest profit.

    The austerity now being imposed on the population is a separate issue and it stems from different causes. In the US the lack of job growth stems from an inadequate stimulus at the inception of the crisis and the shifting focus, particularly among Republicans, toward fiscal discipline. Fiscal discipline in the midst of an ongoing reception makes no sense whatsoever. If policy makers are concerned about fiscal discipline they should introduce policies slowly as the economy recovers. And refusing to discuss tax levels or military expenditure is equally foolish. But that is where the Republican party stands and stands fast, so any compromise with them means hardship imposed upon those in a weaker financial position. And consequentially compromise with Republicans will mean a longer recession.

    On the current role of the Fed in this situation I disagree with Mr. Roberts. Yes interest rates that are too low may be counterproductive. We should be planning toward a structural shift globally to encourage more savings in the US and more consumption in China. Negative interest rates will not support such a correction. But given the insanity of terms of debate and the gridlock in Congress, what else can the Fed do?

    The problem within Europe is rather different and a good deal more complex. Nonetheless the same result of austerity for the population is a similar result. To do justice to the question of European policy however I believe it makes sense for me to submit a separate article. There I will also be able to correct some errors that I find in Mr. Roberts assessment of events in Greece.

    David Hillstrom

    • I have to go with Paul Craig Roberts and his criticisms of the bailouts and Fed policy. The banks should have been allowed to fail and the Fed should have allowed the bust to occur rather than try to keep the boom going. When the collapse comes, it is going to be all the more lengthy and painful due to the Fed’s policies of trying to keep interest rates near zero and monetizing the debt.

      • Jeremy, the problem with letting the banks fail is the multiplier effect it would have on the economy. Banks rely for at least 92% of their funding on depositors. Those depositors would have lost capital as well as the shareholders who represent just 8% of funding. The deposit insurance schemes would not have been able to satisfy mounting claims from depositors.

        The appropriate response to the crisis in my mind would have been first to indict the managers of the banks for criminal negligence, just as is being done for the rogue trader at UBS today. Second governments should have nationalized the banks temporarily diluting prior shareholders drastically. And third new regulations should have been put in place immediately to control the activities of bank trading activities, particularly credit default swaps and other derivative products.

        Unfortunately none of these things were done. In this sense the managers and the shareholders of the banks were bailed out and I would agree that this was a poor policy decision. However, allowing banks to simply fail would have been a disastrous case of shooting ourselves in the foot. Gangrene would have developed very quickly.

        • I find nothing appropriate about socializing the risk/debt while the profit is privatized. The appropriate response would have been to let the institutions that engaged in unethical and corrupt business practices to go bankrupt, to let all the bad debt and malinvestiment be liquidated, for those who made those decisions to take on the risks to take responsibility for their actions rather than putting it on the rest of the country, and (here we agree) for indictments to be issued against the CEOs who led their companies to engage in unethical/illegal practices. It is absolutely outrageous that many of the same people responsible for creating the crisis were then chosen to “solve” it, which they did by taking money from the taxpayers and giving it to the corrupt financial institutions. I also don’t see it as being a problem rooted in lack of regulation so much as a problem of too much government/Fed interference, e.g. artificially low interest rates, tax incentives for home buyers, etc. And I don’t think continuing to do the same things that caused the artificial boom in the first place in order to try to prevent the bust is very wise policy, to say the least. This will have devastating consequences, and trying to put the consequences off to the future will only make it that much worse in the long run. Also, I’m not quite sure how to reconcile the apparent contradiction of saying on one hand the bailouts were necessary while on the other agreeing bailing out the managers and shareholders was a poor decision.

  • Hacksaw

    I’m just a simpleton so I’ll post a simple post. I think the real culprit in all of this economic morass and that which a cover-up of same is being attempted by almost everyone, is free trade. While being sold, either under true belief or through subterfuge to the public as a wealth creating mechanism, in truth, is a wealth extraction and transference mechanism. Those who have controlled capital have down through time decided which countries would prosper by moving that capital into those countries. The means of such a transfer has typically been by what is known today as free trade or some semblance of same. The capitalists, oligarchs, or feudalists, whatever one wishes to call them, moves the capital they extract from one country into another. They leave the capital in that country until the workers progress to a point where they demand higher wages, get uppity so to speak. At this point the process to extract wealth from that country is begun and a new home for that capital is found, where workers will gladly work for slave wages and the cycle begins anew.

    The debt bubble, which encompasses all of the bubbles in the last thirty years or so, has just been a diversion so that the public would not realize that their wealth was being extracted or mined so to speak. The diversion was to keep up the illusion of a high standard of living, through debt, while that wealth was being transferred to Japan, China, and India. Now, here we are, the industry is gone, the jobs are gone, and the wealth is gone. All the while, the oligarch’s bribed stooges that run the government are pressing for more free trade agreements with countries that have absolutely no way of improving the US economy through importing US made products. The bailout of the too big to fail firms was just part of the extraction, it made the oligarchs whole at the expense of the middle class in the US.

    • Edward

      I agree with you. To put it simply the real trouble began when the jobs went abroad and the cheap labour came home. Or to put it another way Europe and America have become the new outsourcing countries

  • panchito

    In retrospective it is always easy to explain why we are in deep shit today…

    Dr. Paul Craig Roberts seems so knowledgeable, so I can only wonder what took him (and all others that are supposed to keep an eye on these issues) so long to share his view on where everything was heading?

  • THE

    There is much talk of markets going up or down, but that is what markets do all the time.

    What will really keep markets down in the long run is if the European Union does solve their Collective Debt Problems in the Proper way that is free from Politics, and is purely and entirely based on unbiased, unselfish, Economic and Financial advice that is unbribed and scientifically based.

    I cannot say what that is, because I know next to nothing on the subjects of Economics, Banking, and Finance.

    My opinion is that each country should have their own Currency, and their own Central Bank, and that the most vital ingredient of this is that America leaves Continental Europe completely and permanently,

    Only after America has left Continental Europe completely and permanently can the markets determine the currency rate free of Anglo-American interference by the Puppet Continental European Politicians.

    We all know that England and America bribe Continental European Politicians with Money to be their Puppets, and they must give their guarantee by being secretly filmed by England and America in Acts of Bestiality and Paedophilia to ensure the Puppetship to America.

    To help with their Legal Costs, the European Union should secretly give 15 million Euros to several European Union Politicians to confess that they work for America and they had to be filmed in Acts of Bestiality to receive their Secret Bank Accounts and their Gold.

    I do not think that they will go to jail for Bestiality, but they must be given immunity from prosecution for their Paedophilia, or at least a light sentence for having the courage and the decency to help save Continental Europe and the World from that Rubbish that is America.

    America truly is a Genuine Filth and Rubbish, and all People of the World are encouraged to refer to America, not as America, but as Lies Incorporated, Genocide Incorporated, and Murder Incorporated, and Continental Europe and the Euro Zone is saying to America: Simply We Say, Just Go Away.

    Continental Europe or should not think that it will be different in the future, Unless and only Unless Every cat and Every mouse on this planet can come to a genuine trusting friendship that contains no lies.

    If you happen to be slightly above moron status, then you should know the direction you need to take to preserve your lives.

    The People of Continental Europe should not wait for Corrupt and Bribed Politicians to be anything but what they are, and they should make Cartons of European Politicians in Acts of Bestiality and distribute it far and wide if they love their lives, and the lives of the families and friends.

    These Cartons should have the Politicians say that they will obey the Decrees of Anglo-America, but they should only show Acts of Bestiality, and never show any Cartoon Acts of Paedophilia.

    They should have the Puppet Politicians say that will be filmed in Acts of Paedophilia to ensure their Total Submission to Anglo-American Plutocrats in order to Betray their own People to enrich the Anglo-American Plutocrats and themselves.

    These Cartoons should be followed by the People taking those Politicians that appear in the Cartoon to Court, to ensure that this issue is dragged through the mud as much as possible in order for People to save their lives.

    England and America were trying, and will probably continue to try to pressure the Euro Zone Countries make quick decisions, because they want the Euro Zone to Stampede in a wrong direction, because Anglo-American Plutocrats wish to make Money on poor decisions and policies of the Euro Zone Countries.

    I suggested that if Countries wish to remain in the Euro Zone, then the solution should be constructed by incorruptible and impartial Experts, rather than leaving it to Politicians who have vested interests.

    I heard some English Politicians who are certainly also secretly speaking for America, and they said the Euro Currency is about Politics rather than Economics.

    I know very little about Economics, Banking, and Finance, but I offer my honest opinion that is based on knowledge of Human Nature, and especially of Anglo-America.

    I think that it is highly probable that England and America deliberately manipulated the situation for the Euro to come in existence in the first place, by have wild fluctuations in the old non Euro currency of Continental Europe, because America has its Puppets everywhere on Continental Europe, and because they oppose the fair, just, and sensible Tobin tax.

    They did this to ensure that The European Union would go Bankrupt, and they did this to delay the day when the European Union would be a rival to Anglo-America.

    I heard that once a group’s GDP is 60% of America’s, then they take action against that group, just like they did with the Soviet Union.

    I know I wrote much about the Nazis of Europe, and so many People will think why I am trying to help the Euro Zone.

    The answer is simple and obvious, because Anglo-America is the World’s number 1 enemy, and most things that weaken Anglo-America is good, even if it should benefit the Euro Zone, and because the Euro Zone has several Countries that are good and decent Countries.

  • THE

    Perhaps England, America, France, and Italy attacked Libya, because they needed a place to put their freed black prisoners, their homeless, their unemployed, and their Gypsies.

    With the American economy the way it is, the Americans are now even more eager to replace the Albanians of Kosovo with their freed black prisoners in order to desperately save themselves money.

    It would be proper for Germany to be the first European Country to reverse their illegal recognition of Kosovo’s Unilateral declaration of independence, because Nazism is very strong in Germany.

    Serbia must never recognize Kosovo, because the Albanians will sue Serbia if they become a United Nations Member Country, unless the record has been set straight, and Serbia insist that the Albanians must tell the world the truth, because the truth you set them free.

    I think that the Serbs and the Albanians should try to blackmail these America and the European Union for money before asking the Americans to leave Kosovo and never come back again.

    The Nazis have read the Bible and they know that the army to conquer a nation is right there in that nation itself, if they can break the unity of the people. This does not necessarily mean that the army is a foreign army like NATO. This army is made up of people who are citizens of the country and the citizens of the former Yugoslavia were this army. The Nazis want to use the citizens of Serbia to be their army against Serbia.

    “On that day men will be stricken by the Lord with great panic. Each man will seize the hand of another, and they will attack each other.” (Zechariah 14:13) This is why if Serbia wants to survive, they need to be totally united.

    “This is love for God: to obey his commands. And his commands are not burdensome” (1 John 5:3).

    The invisible Devil and his invisible demons see and hear everything, and if they see that you are reading the Bible too much and obeying God, they will try to sidetrack you in some way, and I have seen many sidetracked from reading the Bible and obeying God, because Satan reluctantly manoeuvred events to find them employment.

    The invisible Devil does not want people to gain everlasting life, and they are very quick to sidetrack people who read the Bible.

    The important thing to know is that if you serve God, then He has promised to help you gain employment.

    “If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you, O you of little faith? So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own” (Matthew 6:30-34).

    We have seen several earthquakes recently, and Jesus said that this would one sign that He is coming to judge the people of the earth very soon.

    I will say that it does not matter if People say that I am a Devil Worshipper, because this should not in any way influence what they think of God’s Word of Truth, because the Bible was here long before I was. All you have to do is study the many Bible characters like Saint Paul to know that he and others were speaking the truth.

    Saint Paul said: “I assure you before God that what I am writing you is no lie” (Galatians 1:20).

    I know that if you do your best by obeying God, then he will do the rest, and I have provide additional information under the Moniker of THE of the comments section at , and I hope that the CIA does not change the or location or contents in order to try to discredit what I wrote.

    If Montenegro joined up with Serbia then they could blackmail the European Union for money or they will sell land to Russia to build a military base there.

    That is why autonomy for Vojvodina will lead to independence for Vojvodina given enough time. The example is Kosovo, and the ethnic Nazi minorities in Vojvodinda can only be encouraged to change the demographics of Vojvodina by putting contraceptives and cancer causing chemicals in the food and drink products of the Serbs.

    I think that Serbia should change their Constitution to say that if Serbia ever became less than 52% Serbian ethnicity, then Serbia automatically becomes Russian territory.

    A legitimate reason to default is because Nazi Nations have publicly stated that they will keep Serbia poor if Serbia insists on Democracy, and if Serbia is poor, then Serbia has no choice other than to default on any money they were forced to lend from the Holocaust producing Nazi IMF and Nazi World Bank.

    The State policy of the economy should have the title of Whatever It Takes. This is such a good policy when it comes to jobs and wealth creation. This means private enterprise where it is need, socialism where it is needed, regulation or deregulation where it is needed, free land where it is needed, etc. I think that the Serbs should have a Jubilee, because this will help the economy.

    “All hard work brings a profit, but mere talk leads only to poverty” (Proverbs 14:23).

    I think that the unemployed should go and work in strategic industries to make Serbia’s exports more competitive to help with the balance of payments.

    Regardless of all that America says on freedom and democracy, they do not care for any of these. Firstly, freedom can only be where God’s Spirit is, and that freedom is where a genuine Christian is.

    “Now the Lord is the Spirit, and where the Spirit of the Lord is, there is freedom” (2 Corinthians 3:17).

    Secondly, America is only a pretend democracy who hates real democracy, but only demands and insists on Total Puppetship.

    “Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest. How long will you lie there, you sluggard? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the hands to rest and poverty will come on you like a bandit and scarcity like an armed man” (Proverbs 6:6-11).

    We see that ants are more intelligent than people in some ways, because they achieve all they want to achieve, and they do this with no money.

    “There are four things which are little on the earth, but they are very wise: The ants are a people not strong, but they put by a store of food in the summer; The conies are only a feeble people, but they make their houses in the rocks; The locusts have no king, but they all go out in bands; You may take the lizard in your hands, but it is in kings’ houses” (Proverbs 30:24-28).

    There are other ways to become poor other than by not having employment, because even some employed people are unnecessarily poor. Poverty will more likely come to those that smoke cigarettes, drink too much alcohol, take drugs, gamble too much, have certain vices, or do not shop for bargains. Poverty will also come to those who have stupid people or criminals as their friends.

    “One who walks with wise men grows wise, but a companion of fools suffers harm” (Proverbs 13:20).

    “Whoever loves pleasure will become poor. Whoever loves wine and expensive food will not become rich” (Proverbs 21:17).

    I will say that especially Tadic and his demonic DS are smooth, lying, and cunning traitors. They should be honest with the people and just say that they are really an extension of the LDP.

    Honesty is never a tactic of traitors, and people should vote for honesty at the next elections.

    The DS are cunning and determined, and there does come a point where gullible people are beyond help. The decision for voters at the next election is easy regardless of what the DS says. If you want to give away all of Kosovo for a false promise of joining the European Union. Even if the promise was true it is not as good as the sensible economic plan that others could present. If all of Serbia’s politicians have said that in no way does Serbia want to, or will join the European Union, then Serbia would have had more dog biscuits from the Nazis long ago. There are just too many of self serving and treacherous politicians in the Serbian Parliament who are only interested in their own selfishness. There are only a few truly honourable patriots who have intelligence in the Serbian Parliament, whereas the traitors have the cunning of Satan and his invisible demons.

    I do think that the LDP’s stated position on Kosovo is the same as the DS’s secret position on Kosovo and that is indeed treachery.

    I am not an economist, and as such my opinions on economics is just that, opinions.

    I think if Serbia has 20% unemployed, then those unemployed should go and work where the others work, and the work can be done in a 4 day working week. Serbia could then work the fifth day to earn more money for the workers because of increased business investments, and the others could receive some wages on top of their Unemployment Payments. In time, as Employment picks up, these People who are experienced at their jobs will be offered Full Time Employment with Full Pay.

  • THE

    I have said on several occasions that my conduct in my private life is my business, and that it does not affect my adherence to the Journalistic Code of Ethics, because the Journalistic Code of Ethics only obliges me not to deliberately lie in my written work, and to state only genuinely held opinions.

    I have not being reading the Bible, and I am only publishing a few modified comments that I wrote years ago, and these comments contain Scriptures, because I have always said that Serbia’s problem is with the Invisible Devil and his invisible demons.

    I know that the problem that the Serbian People are having is because the invisible Satan and the invisible demons are the ones who are using their Evil Servants of Anglo-America, France, Germany, and Albania, because Satan and the demons wanted me to stop being a Christian.

    I went to a park almost five years ago, and told the Devil I would stop going to Church, and that I serve him if he allowed the Serbian Constitution to pass so that Serbia could retain Kosovo.

    I heard an invisible demon’s voice in my head saying my request was granted, because Jeremy Cricket said that when you wish upon a star, makes no difference who you are, your dreams come true.

    I know from by Bible Studies that angels are referred to as stars, but I will not show you the Scriptures to prove this, because I have not read the Bible for a long time, and it is research that you may want to do.

    If there was ever a time that the Serbian People should have been United, it was then, and they should have realized the seriousness of the occasion, and made sure that Every Serb voted for it, whereas the minority races would vote how they wanted to.

    We see now that the invisible Devil and his invisible demons are LIARS, and that Satan and the Demons CAN NEVER BE TRUSTED, because the invisible Devil and his invisible demons want to destroy this world.

    There is nothing good that can come from Devil Worship, and Devil Worship has failed the Human Race, because nothing good can come from Devil Worship.

    It is coming up to five years that the Referendum on Serbia’s new Constitution of October 2006.

    It was a crucial time for Serbia, because rejection of that Referendum would have meant that The West would portray it as a rejection by Serbia of Democracy, and in favour of the Slandered Milosevic policies.

    There was less than the 50% of Voters who actually voted after the first day, and it meant that the Referendum would not have a result because of not having at least 50% Voter Participation.

    The Serbian Government extended the voting time for the Referendum for another day, and I knew that the only way it would pass was if I told the Devil that I would serve him.

    The Referendum for Serbia’s new Constitution did pass, but only narrowly, and I do not know if the Secret Devil Worshipping Electoral Officers changed the result, or if the invisible demons entered into the next day’s Voters, and the Voters heard a Voice in their heads to vote in favour of Serbia’s Democratic Constitution.

    In time I realized that the invisible demons allowed it to pass, because they knew that I would go back to Church and repent the next day if the Referendum failed to pass, and they were not going to risk that.

    I knew all along that this matter was really between the Invisible Devil and the Invisible demons, because they do want me or any human to gain everlasting life.

    Those who are ignorant of the truth, they deceive with their Lies of evolution, and those who know the truth and who are Christians they pressure them to become traitors.

    The Invisible Devil and the Invisible demons do the same with most of Politicians of Anglo-America, the European Union, and Balkan Politicians to betray Proper Principles and to Betray their People in order to enrich themselves, because Satan says that Everyone is Selfish and has a price.

    I gave the Serbian Government much good and sound advice, but they love Satan too much, and so I am beginning to think that the more I try to help them, the more they will love Satan and Treason, and the more they will not speak up in Serbia’s Defence.

    Had I suspected that the Invisible Satan and the Demons were not going to keep their deal, I would never have told the Invisible demons that I would stop going to Church, or that I would serve the Invisible Devil.

    The Bible tells us several accounts of how some People who were at one time faithfully serving God, but they latter sold their souls to the Invisible Devil, who was the first good angel to make himself a demon angel who is invisible to humans.

    “Jesus answered, Scripture says, a person cannot live on bread alone but on every word that God speaks (Matthew 4:4).

    The wise thing to do is to REPENT, and get your own copy of the Bible, read and study it, and obey God, because Jesus will come very soon to judge all the people of the world.

    We have seen how the Devil Worship by the CIA Sponsored Traitor Leaders of so called National Transitional Council in Libya has failed the Libyan People.

    We see that Devil Worship in the Serbian Government has also failed the Serbian and the Albanian People, even the People of the World.

    We see that Devil Worship by the Anglo-American Politicians, the Nazis of Europe Politicians, and the Kosovo Albanian Politicians has failed their People and the People of the World.

    There are People who will say that it is because I am a Serb that I have explained these Facts, and others will say that it is because I have Satan and the Demons did not keep their word, and that I was a fool to every believe that Satan and the demons could ever be trusted.

    They will say that the Devil Worshipping Anglo-American Politicians and the Nazis of Europe Politicians need to cover up their War Crimes, and so because they were Secret Devil Worshippers long before I made a deal with the Devil, that their wants come first, and that I should have know that.

    There are some People who allow themselves to be deceived by Anglo-America and the Nazis of Europe that they are free, but they are slaves to depravity, and not really free, but only deluded.

    A person who smokes cigarettes thinks that he is free, but he is really a slave of nicotine, or a Homosexual is a slave of shame posing as pride.

    The Devil Worshipping American Government and the Devil Worshiping Bankers can never bring real freedom to this world, because freedom can only be where God’s Spirit is, and that freedom is only where God’s worshippers are.

    “Now the Lord is the Spirit, and where the Spirit of the Lord is, there is freedom” (2 Corinthians 3:17).

    I know that I will die soon, but if I am to remain true to the Journalistic Code of Ethics, I must say that Devil Worship will always failed, because nothing good can come from Devil worship, because it is built on an Extremely Rotten Foundation.

    Yes, Death to All Devil worshippers, because this is the only Salvation for the People of the World, because we have read in the Bible that this is God’s Righteous and True Judgement.

  • THE

    We see how the Occupy Wall Street protests, or America’s Tahrir Square protests and American Spring is going Coast to Coast.

    There could be several reasons for this, and it should not be discounted that this is done by the CIA.

    I am not suggesting for a moment that there is genuine concern by many American Citizens regarding the Financial System in America.

    I read that all up America owes over 200 Trillion Dollars, which is three times the World annual earnings.

    If certain European Union Countries with far less Debt as a percentage of their own GDP are said to be in trouble, then I can understand the concerns of any normal American Citizen.

    However, I am just asking the question of is it possible that this may be distraction in order to keep other news away from the American People.

    It could be that England and America need to buy up Continental European Union Companies cheaply, because of their own Financial Problems.

    We all know that America has Secret Agents in all European Countries, and they may bribe some local recruits to use explosives on Ukraine’s Gas infrastructure to disable it for a few weeks or months.

    They will of course blame Al-Qaeda or Russia, and they will use cunning reasoning for this.

    We know that England and America have on many occasions used their Puppet the European Union to act in what can Very Diplomatically be said to be less that Professionally when it comes to Russia and Belarus.

    The fact of the matter is that the European Union has the same attitude as the Nazis do when it comes to Russia, Belarus, and we all know of the Evil they have perpetrated on the Serbian People.

    America will say that Russia thought that it was in the World’s Interest to have the De-Nazification of Continental Europe, and that hitting Continental Europe’s Gas Supply while Continental Europe was Limping with the Euro Crisis would help Continental Europe join the Human Race.

    This would allow for normal relations that are based on friendship and respect, and that this in turn would provide for better business investment from the European Union to Russia.

    The English Ambassador to Russia and the American Ambassador to Russia may suggest these things, but Russia should not even contemplate it.

    This is because the meetings may have been recorded, and England and America could tell the Newspapers that they tricked Russia to do their dirty work.

    We can be certain that England and America will benefit Financially, and Russia will get the blame for it.

    England and America could say that they paid Russia 50 Billion Euros, and all I can say is that if I were the Leader of Russia I would accept for 50 Billion Euros, as long as England and America keep it a Secret.

    I know that the current Russian Leaders would not even contemplate it because they are more polite and diplomatic than I am, but I just wrote this in order for the Ukrainian Authorities step up Security around these facilities.

    The reason I would accept is because if I am going to wrongly get the blame for it, and England and America will buy up the Best Continental European Companies; then, I would at least have some type of Compensation for being Slandered, and for any loss of business and revenue that would result because of the Anglo-American Scheme.

    The European Union should have fair, proper, and professional working relationships with Russia and Belarus, so that England and America cannot wrongly blame Russia in order to improperly profit from Continental Europe.

  • THE

    I realize now that in my other comment, I should have said that it was Jiminy Cricket and not than Jeremy Cricket, as I said in my other comment.

    Jiminy Cricket is the Walt Disney Cartoon Character, who sang the song, “When you wish upon a Star”.

    That song says: When you wish upon a star, Makes no difference who you are, Anything your heart desires, Will come to you. If your heart is in your dream, No request is too extreme, When you wish upon a star, As dreamers do. Fate is kind, She brings to those who love, The sweet fulfilment of, Their secret longing, Like a bolt out of the blue, Fate steps in and sees you through, When you wish upon a star, Your dreams come true.

    I have already explained in some detail how I went to a lonely park after the first day’s voting on a Referendum for the Serbian Constitution failed to gather 50% of the enrolled Voters, and that the Serbian Government extended the voting time for another day to allow those Voters who had not as yet voted to Vote. There I told the indivisible demons that I would serve invisible Satan the Devil if he would ensure that the new Democratic Serbian Constitution would be voted on by a Majority of enrolled Voters, and be approved by a majority of those Voters.

    I have known for a long time that at least one invisible demon follows me wherever I go, and tell the Anglo-American Politicians what I say, and it even works at the beach in the water where it is impossible to have a listening device, and where there is no other human, and while I am whispering. I will not want to praise myself, but I will just ask myself if it is because they think that I am of above average intelligence which is what Anglo-America greedily seeks those with above average intelligence.

    I do know, and have known for a fact that this is true, long before that night at the park almost five years ago. This is because I would go to a lonely park and give some non-violent policy advice, or if I held a conversation with a total stranger, and then I would listen to the news on the radio, and the Anglo-Saxon Politicians here would paraphrase what I said. The invisible demons can understand every human language, and they communicate with each other similar to mobile phones, and their human servants hear a voice in their heads, that only they can hear, and it gives them information and orders.

    They even implemented some of my suggestions that were always non-violent, although at times it had to be modified because they are more intelligent than what I am, because the invisible demons give them cunning and intelligence, and some times they twisted my good intentioned policies for their evil and violent purposes.

    It has been a while since I read the Bible, but I can remember the Chapters if not the versus of where some of the Scriptures are. The Bible Book of Daniel Chapter 12, tells us that humans in Heaven are like the stars. The Book of Job Chapter 38 tells us that the stars of Heaven sang at the creation of the earth, and then it calls them the Sons of God. Satan and the demons were at that time faithful to God, and they were among those stars who sang praises to God. Revelation Chapter 12 tells us how the Dragon who is Satan the Devil causes one third of the stars of Heaven to come to the earth. We know that these could be literal stars, because the earth would cease to exist. We have read in the Letter of Jude how certain angels did not keep their first domain (Heaven), but deserted their own dwelling place and became demons, and these are the stars of Heaven who came to the earth. Revelation chapter 22 tells how Jesus refers to himself as a star, and so we see that the term star is used in the Bible to describe who dwell in Heaven, those who will dwell in Heaven, and those who at one time did dwell in Heaven.

    Revelation Chapter 12 tells us that the Devil and his demons are misleading the entire earth.

    The Devil even deceives those who know that truth like Eve did, and Satan deceived her to disobey God’s Command, but Adam was not deceived, but he also sinned because of his own motives.

    I remember many Scriptures in the Bible, and even their Chapters and there versus, because I have been reading thew Bible since I was a Child. If we read Deuteronomy 31: 17, I chronicles 28:9, and Hebrews 6:4-6; we will see that those who once served God but then served the Devil cannot be forgiven their sins. It is not my business to sit in judgement of any human being, but I know that if a person wants to Repent and go back to Church, then that person has not gone too far in their rebellion, and God will forgive them their sins. We have the example of Manasseh, the Ancient King of Judah who committed terrible sins, but who truly repented while he was in a foreign prison, and was forgiven by God. Manasseh was released from a foreign prison and even restored to the Kingship.

    I know that I have been a fool, and that Satan has tricked me, and so I say to my fellow Serbs, and to anyone else for that matter; do not let the Devil trick you.

    As a Serb, I am obstinate, because I know that I am right, I do not want to do this until after the Devil keeps his promise that he made to me.

    How I wish I could ask God for help to keep the powerful invisible demons have been torturing me in the invisible realm away from me (Psalm 34:7).

    Even with Serbian Inat, which means regardless of the consequences, I just do not know for how much longer I can resist (Mark 5: 1-13).

    I know that Satan wants me to go back to Church to deceive Christian, and try to get them to sin, because Satan and the demons do not want People to serve God, and gain everlasting life, which God who cannot lie has promised.

    “For there are certain men who crept in secretly, even those who were long ago written about for this condemnation: ungodly men, turning the grace of our God into indecency, and denying our only Master, God, and Lord, Jesus Christ” (Jude 4).

    This is just like the Secret Devil Worshipping European Union who makes false promises like their Master Satan, and the Devil wants more and more from me, but he Never keeps his promises.

    We see now that the invisible Devil and his invisible demons are LIARS, and that Satan and the Demons CAN NEVER BE TRUSTED, because the invisible Devil and his invisible demons want to destroy this world.

    There is nothing good that can come from Devil Worship, and Devil Worship has failed the Human Race, because nothing good can come from Devil Worship.

    I know that I will die soon, but if I am to remain true to the Journalistic Code of Ethics, I must say that Devil Worship will always failed, because nothing good can come from Devil worship, because it is built on an Extremely Rotten Foundation.

    Yes, Death to All Devil worshippers, because this is the only Salvation for the People of the World, because we have read in the Bible that this is God’s Righteous and True Judgement.

  • THE

    England has become the first European Union Country to impose sanctions on Russian officials, which England says is implicated in the murder of lawyer Sergei Magnitsky, an English daily reports.

    We know that Saddam Hussein was implicated with being in League with Al-Qaeda who is America’s invention and Ally, but this was found to be a lie.

    We know that Saddam Hussein was implicated with having Weapons of Mass Destruction, but this was found to be another English lie.

    The Guildford 4, the Birmingham 6, and the Maguire 7 were sets of people whose convictions in English Courts were eventually quashed, because they were framed on English lies.

    It is said that American Authorities have compiled a list of 60 Russian men and women claimed to have embezzled $230 million in Russian tax money, and claimed to have killed Magnitsky in 2009 when he is said to have exposed the scam.

    We see that England is not content with the Guildford 4, the Birmingham 6, and the Maguire 7, because they now want a Moscow 60.

    How do we know that some of these 60 who are alleged of wrongdoing by England, have not been bribed with English Money after they agreed to be Filmed in Acts of Bestiality to ensure their Puppetship.

    England could never have anything to do with suspected Murderers who were only suspected because of English Slander, because the English only love the Company of the Corrupt and Dirty proven Murders, like American Leaders, the Nazis of Europe, and the Kosovo Albanian Leadership, along with other murderers in other Countries of the world.

    The English say that they want to make it absolutely clear to anybody else that if you are engaged in corruption and criminality in Russia, you are not coming to England, because the English are very particular to only want proven Criminals, and not just Slandered Unproven Suspects.

    The English falsely claim to give every one the Presumption of Innocence and the Right to a Fair Trial, but these types of despicable actions are an Unjust Guilt by Association, and a Trial by Media, while their Champion Butcher General Augusto Pinochet, was treated like Royalty while he was in England, and the English refused Spain’s extradition request on General Disgusting Pinochet for Crimes against Humanity.

    The English move follows similar action by America in August and a freeze on related bank accounts by Switzerland in April.

    But Dutch foreign minister Uri Rosenthal, of the Anglo-Dutch Money Making Scheme has promised parliament he will look into action at EU level in November if a Russian investigation does not say what has already been predetermined and schemed by the Anglo-Dutch Money Making scheme to profit of the Euro Crisis at the expense of other Continental European Countries.

    The English who control the European Union’s foreign relations service has also said it “cannot exclude” EU-level steps if the Russian probe is a whitewash, which is a fancy way of saying, that any finding not to their prejudiced schemes will be called a whitewash.

    Reacting to the news, Magnitsky’s former employer, English based venture capitalist Bill Browder told EUobserver: “This English ban is a very significant development in the whole Puppet European Union debate about this policy. It seems to me that it will be much harder for the EU to be inactive on EU-wide Magnitsky sanctions now that the English and American governments have already acted”.

    The answer to this is that there are many European Union Politicians who have been Puppetized by England and America, because they were Filmed in Acts of Bestiality and Paedophilia in order to receive their Dirty Money for betraying those that voted for them.

    England, American and Holland are totally ruthless and really revel in oppression and destroying societies in order to build up the Anglo- American Financial Empire at the expense of Continental Europe.

    This is a new form of Empire, which is not primarily created through the Military, although the Military is always there to back up the Anglo-American Financial System if they get into trouble, and this is why America built Camp Bondsteel.

    It is a form of Empire that is being built around Debt, and Fear, and this is just like the Old feudal Empires where you had the Fortress Palaces around the Country, where the People who provide Goods and Services to the lord of the Castles and his Knights to protect the People from being attacked from other Castles.

    Today, the Castles are the Anglo-American Banks and Corporations, and the lords are the Anglo-American Plutocrats, and the Knights are their henchmen, and the Bribed and Corrupt Puppet Politicians in Anglo-American Countries, and in their Puppets Countries.

    Anglo-America installed their Puppets in Continental Europe and other Countries, and these Puppets took on Debt, and Debts makes People the servants to the Lender.

    The Immoral Lenders want Countries to sell their best Companies cheaply, because they have little choice in the matter.

    This is because Anglo-America will kill them if they do not follow orders, and because they have Filmed in Acts of Bestiality and Paedophilia to become Puppet Politicians, they know that they must continue to be Puppets.

    I propose that all Politicians in at least one European Union Country gives themselves immunity from Prosecution for any Acts of Bestiality and Paedophilia that they may have or may commit in the Future.

    It is to be understood that this Legislation is not an admission of Guilt by any Politician who votes for the Legislation, neither is it an accusation of future intentions by any of these Politicians who vote for this Legislation, and all the Politicians are presumed Innocent, and if they are found Guilty of being Puppets of Anglo-America, then they have immunity.

    This vote Must Be Unanimous, and the reason is to prevent possible bribery or corruption by future Politicians, and to ensure Good Government for the Citizens.

    I know that Anglo-America are quick with evil schemes, and I think that security around Ukraine’s Gas facilities should be stepped up, because England and America want to wrongly blame Russia for it, because Anglo-America and Holland want to make Money of the Euro Zone Crisis, and buy up Continental European Companies Cheaply.

  • THE

    I realized that I used some poetic licence, and that is acceptable as long as I explained it.

    I copied and pasted, and slightly modified : Reacting to the news, Magnitsky’s former employer, English based venture capitalist Bill Browder told EUobserver: “This English ban is a very significant development in the whole Puppet European Union debate about this policy.

    I changed the word British to English and I added the word Puppet in order to provide additional information, and I should have said that I would use a little poetic licence, and that the discerning reader would appreciate this, but it was a lapse of concentration and an oversight for me not to mention this in my other comment, and I apologize for this. As far as I am concerned, Britain is Greater England, and most European Union Countries are Puppets of Anglo-America: however, I should have mentioned that this is my genuinely held opinion.

    The Journalistic Code of Ethics has not been breached, because there genuinely was no intention to lie, and because I corrected it as soon as was practicable.

    The Video that is Titled: The euro crisis, can be viewed on the Internet at, , unless of course the CIA changes the contents or location of that Video in order to try to discredit what I wrote.

    That Expert said that Politics always the main consideration with regard to the creation of the Common Euro Currency, and that when Politics rather than Proper Economics drives the Economy, then the Debt and unemployment will increase.

    He also went on to say that the European Union Politicians and the Appointed High Officials tell lies, because this Euro Project and the Common Euro Currency and the Euro Zone is Politics that is insisted upon before Reality that should be pursued, and this is why if People go in the Opposite Way to what these Criminal Thieves and Disgusting Liars have Schemed to enrich themselves, then that is Perfect Economics.

    There are People who think that this was just a logical tactic in the Strategy of making the Fourth Reich.

    Obviously, this Fourth Reich would be different, in some aspects, because we are in a Different Europe, and a Different World.

    The objective and hopes of the Third Reich Leaders was for Germany to win the War, and for Germany and others the Master Race like the Dutch and the Nordic Countries to be rich, and for the Rest of Europe to be poor.

    We should be intelligent enough to know many things in this World are not as they appear to be, and the European Union and the Common Euro Currency are among these deceptive and potentially dangerous things, unless sufficient checks and balances are placed in these systems.

    Obviously, Germany needs NATO to do this, and Germany is carrying on World War 2 in the territory of the former Yugoslavian, and most noticeably at present in Serbia’s Province of Kosovo.

    We have seen clear evidence for this in that Germany Illegally and Immorally supports Kosovo Albanian Terrorism against Serbs and Land Theft against Serbia.

    Germany should take a look at its History, and be the first Continental European Country to withdraw its support for Kosovo Albanians Illegal and Immoral Unilateral declaration of independence.

    Continental Europe should realise that if they choose to sweep their Modern Day Nazism by the stronger Nazi Countries, and the Cowardly Complicity by the weaker Continental European Countries under the carpet, then they will reap what they sow.

    We know that Continental Europe had two happy endings with Nazism being temporarily subdued twice, but only time will tell if Nazism is again temporarily subdued for a third time in Europe.

    It should be Very Carefully Considered and Publicly Debate, if the European Union is really just the Fourth Reich where the German can kill other Countries slowly, but not weapons this time, but with corrupt Economics, Corrupt Banking, and Corrupt Economics that favours Germany at the expense of others.

    If you use only carrots to try to make bread, then be certain that you will most certainly fail to make bread.

    This is the same Principle with Economic Policies, because you will reap what you sow, and ask any gardener and he will tell you that this is unavoidable.

    I think that each Country should Collect Proper Taxes from everyone it is has been deemed by incorruptible and unbiased Experts, that it will not affect the Economy, or Wealth of their Country, and some People could think HA HA HA and good luck on that HA HA HA.

    I think that each Country should Print their own Money, but with that Printed Money they Must buy things of Value, and this should predominately be Houses of those who would sell them to their Government.

    The Government would own a Genuine Asset, and the Government would have a Definite Source of Revenue by means of Collecting Rent at the rate of 25% of the income of the all the People in that Household.

    This will create a situation where People will have Money to buy a new car, or even a second hand car, and this will create Employment and Tax Revenues, because cars create fuel taxes; they create demand for taxed spare parts; and they employ every taxed tradespeople associated with the car industry, and they employ every taxed ordinary people associated with the car industry.

    I do not want to go into the very long list of employment creating industries that that are associated with having buses, trucks, and cars.

    These People who are offered to sell their Houses to the Government should be those who are struggling, and who are most likely to spend their money, on big ticket items, such as cars, furniture, clothing, electrical appliances, even holidays in other European Countries.

    This will have the effect of clearly existing stock, and creating demand for employment in manufacturing industries.

    We know that Banks create Money out of thin air, but only if it is covered by something of equivalent value, then it is not a Ponzi Scheme.

    The interest rate should be set at zero, because the Government is borrowing from itself, and so charging interest to itself is pointless.

    The European Union should have Elections every three years and those Elections should all be on the same day, to avoid doing things, because some Country is to have an Election, and so a policy of too much inaction is what occurs too often to the detriment of the Economy.

    The Revenue that these policies will produce is what could be used to buy Companies that are in the National Interest of their Citizens who they claim to be serving.

    Those who want their Government Parties re-elected might place Cartoons on YouTube of Politicians of a Mythical Land who volunteer to be Filmed in Acts of Bestiality and Paedophilia in order to be bribed to wreck the Economy in order to enrich themselves and the Plutocrats obviously, because the poor cannot bribe anyone, and the poor are always poor, and cannot be enriched by the Bribe Taking Appointed High Officials Corrupt European Union Politicians.

  • WWBJD?

    • I think a good place to start is a rejection of the last 30 years of Reaganomics – who doesn’t remember Ferris Bueller’s Day Off: anyone? anyone? Voodoo economics.

    After 30 years of trickle down economics, (the theory that putting more wealth in the hands of the wealthy so that they innovate and create jobs and the wealth trickles down to all members of society) we know that it does not work. All Reagonomics does is lead to greater income inequality.

    I think it is time we tried some trickle up economics. In 2008 the Federal Reserve lent $16.1 trillion (yes trillion) to private financial institutes in the U.S. and Europe. The total value of all outstanding mortgages in the U.S. at the time was approximately $11-$12 trillion (I don’t have access to a crack research team but this is my best estimate based on various sources and various reporting methods). Suppose instead of lending that money to banks the Fed had used it to pay off every single mortgage in the U.S.? The banks would have gotten the money anyway(who was owed the mortgages?) but it would have cleaned up the balance sheet of the American consumer (increased equity and reduced liabilities). It would have also helped with the balance sheet of the American banks (an increase in cash from the mortgages being paid off with a corresponding reduction in mortgages receivable – which were toxic anyway and, therefore, over-valued – would have left the balance sheets at worst, even and at best, improved). Now the American consumer has equity, and the banks have cash to lend.

    Instead the bail-out that was chosen marginally improved the balance sheet of the banks through an increase in cash (although the mortgages receivable assets were spotty at best) and did nothing for the balance sheets of the average American.

    Of course you could argue that the financial institutes paid back their loans, but most of the American banks paid back the money with stock options (still waiting to reach potential) or with tax rebates from carrying their losses back to prior years and getting prior year’s taxes paid refunded – a good slight-of-hand trick if ever there was one.

    Even using the $700 billion in taxpayer money that was provided to AIG and other financial institutions initially to pay off select American’s mortgages (I don’t know what method you would use to choose – surely not one more or less capricious then arbitrarily saving Bear Sterns and letting Lehman Brothers collapse) would have provided a better balance than the method that was undertaken by the US government.

    Now before you start calling me a raving socialist remember I am referring to a specific situation that has occured – my personal preference would have been to prevent the socialization of risk that led to these circumstances in the first place. However, since the risk was socialized doesn’t it make sense that the solution should have been socialized as well?