Skip to main content  
  Helping the environment one joke at a time, Grinning Planet. Click to go to home page. flying letter; click to go to signup page for free email version
Get GP free
via email !
 
   
     
 

MONEY MADNESS -- AUG/SEP 2009 ...
12 Points Regarding the Financial Crisis

We're all hearing a lot of media happy talk about green shoots and corners having been turned and the worst of the financial downturn being over. Sorry, it's nothing but hot air. Below we offer 12 points regarding the financial crisis—thoughts about where things really stand.

Then we feature two important videos about the financial crisis:

Video 1 - Elizabeth Warren, head of the Congressional Oversight Panel on the bailouts, states that the world would NOT have ended if congress had balked at the $700 billion bank bailout (9 min)

Video 2 - William K. Black, former liquidation director for the 1980s' S&L disaster, explains just how wrong the solutions have been to the financial meltdown (1 hr 40 min).

The second video is quite long, but wow, it really nails down just how bad our leaders have been on the current banking mess and all the stuff that led up to it.

But first, the Tranya ... um ... I mean "12 Points"!

12 Points Regarding the Financial Crisis

  • In the history of the world, all fiat currencies have eventually failed. The US dollar is well beyond previous records for the life span of a paper currency not backed by a hard asset.
  • The US federal budget deficit for 2009 is projected to be $1.6 trillion, more than three times the previous record.
  • The Federal Reserve is now openly buying US government debt—$1.5 trillion (that we know of) by the end of the year—an open sign of the intention to monetize debt.
  • China has begun deploying its large dollar holdings to buy contracts for future resources (i.e. things of tangible value).
  • China and some other countries are beginning to do transactions in their own currencies rather than dollars.
  • There have been $24 trillion worth of direct cash infusions and loan commitments extended to Wall Street and the banking industry in less than one year—an amount that is twice the annual GDP of the entire US. Yet banks are still awash in toxic (worthless) derivates. Some (un-bailed-out) small- and medium-sized banks are now starting to default on derivatives-associated obligations.
  • The total amount of derivatives is estimated to be between $700 and $1500 trillion—many, many times the planetary GDP.
  • The ratio of "investment return to new debt" has been falling for decades. Extrapolating the data says that the ratio will reach 1:1 in (at most) 3-4 years. This means the current debt-based money system is about to end—or, at a minimum, about to undergo a radical transformation.
  • A large number of banks have failed in the last year, almost draining the FDIC's failed-bank insurance pool. This is despite the fact that some of the larger failures were handled with funds other than FDIC funds.
  • US manufacturing is still shrinking. US unemployment continues to increase, with the real unemployment rate already at 20%.
  • The overall trend in real estate values continues to be down. The coming wave of resets in Alt-A and Option-ARM mortgages will ensure that trend continues.
  • There has been no move on the part of those in power to address the real problems in the financial system, or to even talk about them honestly. The mainstream media seems incapable of intelligent reporting, leaving most people unaware of how deep the problem really is. The longer real solutions are delayed, the more likelihood (and severity) of an eventual crash.

More articles....

Elizabeth Warren

William K. Black

    Bookmark and Share
 
 
 

Related pages:

William K. Black book: The Best Way to Rob a Bank Is to Own One

GP article: Causes of the Financial Crisis

   

CLICKS ON OUR ADS AND PURCHASES VIA OUR AMAZON LINKS
HELP SUPPORT THIS FREE SITE... THANKS!

Search Amazon.com ....

       
 
 
Most Recent Videos, Animations, Audio
 
ECO SERIOUS
 
chemicals in cosmetics video link; split graphic of man and woman at bathroom sink using personal care products
THE STORY OF COSMETICS
Another excellent piece from Annie Leonard's "story of" series, this time taking on personal care products. Unless you check your labels carefully—and avoid products with ingredients you can't recognize or even pronounce—the shampoo, makeup, and other products on your shelves are almost sure to contain a variety of toxics.  Watch chemicals in cosmetics video.
 
ECO FUNNY
 
funny videos gulf oil disaster link; thumb of remote undersea vehicles
FUNNY OIL LEAK VIDEOS
The oil that has leaked into the Gulf of Mexico continues to threaten coastal ecosystems and inhabitants. It is a tragedy of enormous proportions. But that has not stopped some clever humorists from doing a slew of funny oil leak videos.  Watch funny videos related to the gulf oil disaster.
 
JUST PLAIN FUNNY
 
funny advertising videos link; thumb of newsman pointing to advertising product
FUNNY VIDEOS ABOUT ADVERTISING
Three funny ones: The new GooglePhone injects targeted audio ads; truth in advertising; and the Advertising Standards Authority takes on God's message.  Watch funny advertising videos.
 
 
 
ECO SERIOUS
 
nuclear energy myths/facts video link; thumb of yellow and black radiation warning sign
EVERYTHING NUCLEAR
This 42-minute film reviews some of the lesser-known historical foibles of nuclear power generation and addresses some of the standard nuclear-industry myths and lies.  Watch nuclear energy myths/facts video.
 
ECO FUNNY
 
environmental animated shorts link; thumb of frog in cup of warm water
ENVIRONMENTAL ANIMATED SHORT FILMS
A selection of the best environmental animated short films from recent one-minute film contests held by Friends of the Earth.  Watch environmental animated shorts.

 
JUST PLAIN FUNNY
 
funny diet videos link; thumb of feet in athletic shoes on a scale
FUNNY VIDEOS ABOUT DIETING
There's no need to be starved for humor—feast on these four funny diet videos.
 
 

RELATED PAGES:

Funny Animation/Videos  |  Cool Animations/Videos  |  Environmental Multimedia

Environmental Songs  |  Books  |  Movies
 

 

FREE AUDIO CLIPS

free audio news clips link; image of zombie kid - DON'T BE A MAINSTREAM MEDIA DRONE! - Free weekly MP3 news download at Grinning Planet

 

 
     
     
  Copyright 2009 © Mark Jeantheau — All rights reserved.   More info  
 
   
 
 
NEWS, ARTICLES, INFO

MP3 News Download
Video/Audio News Sites
Environmental News Sites
Investigative Journalism Sites

Environment/Energy/Economy
    - Articles/Resources By Topic
    - Articles By Date

Environmental Quotes
    - Funny Environmental Quotes
    - Peak Oil Quotes

Environmental Cartoons/Jokes
    - Environmental Videos/Animations

Environmental Products
Eco/Nature Greeting Cards

Grinning Planet Farm

FUNNY STUFF

Funny Jokes/Cartoons
    - Environmental Cartoons

Funny Animations/Videos
    - Environmental Animations/Videos

Funny Quotes
    - Environmental Funny Quotes

BOOKS

Environmental Books
Global Warming Books
Energy Books
Solar Energy Books
Peak Oil Books
Food-Gardening Books
Media Books

 
MUSIC & MOVIES

Environmental Movies
Environmental Songs
Environmental Music Videos

Album Reviews
Fun With Lyrics

ADMIN

Home Page
Search
Site Map
About Us
FAQs
Contact
Free Subscriptions
Unsubscribe
Privacy Policy