Wednesday, November 3, 2010

The Global Monetary System in Crisis: The Currency War Is Leading to a Trade War

by Bob Chapman Global Research November 03, 2010

The UK, Europe, the US and Canada are different degrees of welfare states. By way of regulation, government controls via taxation. The states and their inhabitants send taxes to Washington, which takes its cut and sends funds back to the states with strings attached. You either do what we want you to do, or we cut off your funds. The states and the people are subject to extortion with government using their funds to do so. By using regulations, welfare and extortion, the federal government creates dependency.

Another phenomenon that has developed is a second dependency. People in society, not just in the US, but also in many countries, are dependent on their grandparents and parents and as years progress that situation will worsen. Earning power to maintain a previous lifestyle is no longer available with the staggering tax burden. Including income and VAT taxes in Europe, taxation averages 70%. The ability and opportunity to become successful and wealthy is more limited in today’s societies. Even the college degree has been demeaned. Almost anyone who can hold a pencil today is college material, when 60% of attendees shouldn’t even be there. Adding insult, the jobs once available to college attendees are no longer available, because more often then not illegal aliens hold them. As a result, it is far more difficult to work your way through college and as a result one graduates with a loan for $60,000 that will be paid back in many cases over a lifetime. In most cases that means most won’t be able to afford to buy a house until they are in the 30s or 40, if ever.
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Jeff Bennett, Bob Chapman- Roundtable John Stadtmiller Nov 02 2010



John Stadtmiller Nov 02 2010 - Jeff Bennett,Bob Chapman- Roundtable - Commercial Free



John hosts a weekly financial round table with Jeff Bennett and Bob Chapman. Some have said this is the best two hours in radio.


John is on the road, so it was Jeff Bennett and Bob Chapman (with the callers) for the entire two hours.

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Retirees Blame Credit Cards for Bankruptcies Says Pottow

Oct. 29 (Bloomberg) -- John Pottow, a professor at the Univesrity of Michigan Law School, talks about a study showing bankruptcies among U.S. retirees increased. Pottow speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

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