Saturday, 25 May 2013 04:22

The concept of the petrodollar has proven to be not only dysfunctional, but unsustainable as a whole. The Petrodollar's grasp has been challenged throughout the world in recent decades and has thus lead to political attacks and even war. American inflation will continue to grow because of its two pronged debt expansion weighed down by both an over extended military along with the multi-trillion dollar Wall Street bailout, which continues on.  This massive amount of easing will lead to further downward pressure on the dollar. Indeed, the current US inflation has been masked, however asset prices continue to rise against the dollar- as even the housing market has begun to rebound-- with heavily capitalized banks looking for places to park their bloated dollar reserves.

The best place for money continues to remain in hard assets such as gold, silver, oil and agriculture.

Saturday, 25 May 2013 04:22

The fiscal cliff was just another scare tactic in order to extend George W. Bush's tax cuts, which were a giveaway to the rich, while also further funding the war machine. The real problem is indeed in a broke financial system rife with fraud and no consumer confidence along with  a wholly outsourced manufacturing sector-- tie all this in with mega banks who were fully recapitalized by the government bailouts, which are now too afraid or playing it too conservative when it comes to doing their job, financing American entrepreneurship.Yes, were talking about the same financial players caught neck deep in "AAA rated" sub-prime debt-- talk about an oxymoron. The problem is that the majority of lending managers are completely inept and couldn't  tell a hawk from a handsaw.

Saturday, 25 May 2013 04:22

"Even today, the government provides an ongoing, stealth bailout, propping up AIG with special tax breaks — tax breaks that Congress should stop. AIG should thank American taxpayers for their help, not bite the hand that fed them for helping them out in a crisis."

View whole article at Commondreams.org