What Obama Must Look into Improve Opportunity & Employment

Published on Nov 9, 2012 by ForaTv:


What Obama Must Do to Improve Opportunity & Employment

The panel of political experts discuss what steps the Obama Administration and the Federal Government need to take to get the U.S. economy back on track.

Complete program available for free at HERE*
* the listener has to decide the speakers political persuasions or ideology.

Obama : President by design

Published on Nov 9, 2012 by enqilab : President Barack Obama had a mission or one was given to him. To keep American capitalism intact in a manner fitting to the American political system and acceptable by the American public.

How Iceland pulls itself away from the financial abyss.

Iceland FM: We don't force people to bailout banks

Published on Oct 22, 2012 by RussiaToday : The Foreign Minister Ossur Skarphedinsson of Iceland tells RT's Marina Portnaya how his country managed to pull itself away from the financial abyss - and offers up a few pointers as to how the Eurozone can do the same.

Have We Reached the End of Cheap Manufacturing in China?

Published on Oct 20, 2012 by ForaTv : While discussing the past, present and future of manufacturing abroad Senior Manager of Global Business Operations for New Balance Gabriella Wortmann predicts the coming end of cheap manufacturing in China.

US Inequality, Gap between Rich and Poor

Uploaded by SIMAY2K on Feb 17, 2012 : Jeffrey Sachs spoke
REFERENCE: http://youtu.be/SyAQaQKA6jg He spoke in the Malaysian Parliament today.

Privatisation of British healthcare!

the angers! AJE "Selling off Britain" series.

Published on Oct 11, 2012 by AlJazeeraEnglish : If you were describing a country in which state assets are sold off to private investors who have close econmoic ties with the government then many people would think you'd be talking about a country in the post-Soviet era. That's the charge health campaigners are levelling against private investors in Britain who are increasingly running hospitals.

Neo-Liberal Capitalists Strengthen Control of CCP?

Published on Oct 11, 2012 by TheRealNews : Minqi Li: Recent struggle in the leadership has been a decisive defeat for forces pushing for more income distribution and social reform.

America facing hyperinflation depression?

Kiyosaki's "8 New Rules of Money"



Rich Dad, Poor Dad now a bankrupt dad? Best-selling author  files for corporate bankruptcy after losing $24m judgement    more from source here

Financialization and the World Economy.

Published on Sep 30, 2012 by TheRealNews : Jerry Epstein - Financialization of the economy has been developing since the late 19th century and is now at historic Levels.

Quadrillion Dollar Derivatives Market 20 Times Global GDP.

Published on Sep 25, 2012 by TheRealNews : Markus Stanley - Derivative bets not a zero sum game, have far reaching real world consequences.

Prof :Seize This Moment or Capitalism Will Not Be Cured!

Published on Sep 20, 2012 by ForaTv : Richard Wolff, Professor of Economics Emeritus and author of Democracy at Work: a Cure for Capitalism, urges the public to openly criticize and analyze capitalism at this time of financial crisis.

Scenarios on the Future of the International Monetary System

Published on Sep 7, 2012 by WorldEconomicForum : Euro, Dollar, Yuan uncertainties - Scenarios on the Future of the International Monetary system.

Austerity has never worked.

Prof. Ha-Joon Chang, Cambridge Uni.  |  The Guardian, Mon 4 Jun 2012

It's not just about the current economic environment. History shows that slashing budgets always leads to recession.

Last week saw a string of bad economic news reports. The eurozone leaders seem unwilling or unable to change from their austerity policies, even as Greece andSpain fall apart and the core eurozone economies contract. Britain watches on as its economy is heading for the third consecutive quarter of contraction, with an unexpectedly sharp fall in manufacturing. Last week's jobs figures confirmed that the US recovery is stuttering. The largest developing economies that have so far provided some support for world demand levels – especially India and Brazil but even China – are slowing down too. Four years after the financial crisis began, many rich capitalist economies have not recovered their pre-crisis output levels.

Even more serious is the unemployment problem. The International Labour Organisation estimates there are 60 million fewer people employed worldwide than if the pre-crisis trend had continued. In countries like Spain and Greece, overall jobless rates are approaching 25%, with youth unemployment over 50%. Even in countries experiencing "milder" unemployment problems, like the US and the UK, between 8% and 10% are out of work. If we include those who have given up looking for jobs or those who are forced to work part-time for want of fulltime opportunities, "real" unemployment could be easily over 15% even in these countries.

The remedies on offer are well known. Reduce budget deficits by cutting spending – especially "unproductive" social welfare spending that reduces growth by making poor people less willing to work. Cut taxes at the top and deregulate business (euphemistically called "cutting red tape") so that the "wealth creators" have greater incentives to invest and generate growth; and make hiring and firing easier.

India Rich vs. Poor

ploaded by krishnaallam on Jul 26, 2011 : Freedom to the prosperity, who benefited? Whose lost? What's the perspective?

Malaysia's Statutory Reserve Requirement (SRR)?

Everyone is buzzing about SRR lately, since Bank Negara Malaysia's statement which stated its intention to raise SRR in the near future. Actually, what is SRR? And, what is the effect of higher SRR imposed? Why BNM using SRR right now? Finance Malaysia hopes to clear everyone's doubt and would appreciate if you can share this out.

What is SRR?

Statury Reserve Requirement is a monetary policy instrument available to Bank Negara Malaysia (BNM) for the purposes of liquidity management. Effectively, banking institutions namely commercial banks, merchant/investment banks and Islamic banks are required to maintain balances in their Statutory Reserve Accounts (SRA) equivalent to a certain proportion of their eligible liabilities (EL), this proportion being the SRR rate.

Why BNM uses the SRR as its "tool"? 

Since SRR is available to BNM to manage liquidity and hence credit creation in the banking system, it was used to withdraw or inject liquidity when the excess or lack of liquidity in the banking system is perceived to be large and long-term in nature. Currently, BNM believes that our banking system is lack of liquidity, thus it may raised the SRR to "store" more money in banks.

Effective 1 March 2009, the SRR rate for banking institutions is 1% of EL. As of 1st September 2007, the EL base consists of ringgit denominated deposits and non-deposit liabilities, net of interbank assets and placements with BNM.

Previous adjustments to the SRR rate

MORE HERE  >>

China's reserve ratio (CRR) 20%

Chinese manufacturing hits three-year low

Published on Sep 3, 2012 by AlJazeeraEnglish : China's vast manufacturing sector has shrunk for a tenth straight month. Surveys by the government, and the banking giant HSBC, suggest China's manufacturing slowdown could be worse than first thought. Other figures show the non-manufacturing sector grew, but only slowly. That includes industries such as construction, air transport and telecommunications. Francis Lun, the general manager of Fulbright Securities, a financial group, in Hong Kong, says China's current leaders still have time to make economic changes before they are replaced in November.

Thailand's rice Cartel initiative?

Rice Payment Scheme Threatens Thailand's Status as World's Top Exporter

Published on Sep 3, 2012 by VOAvideo : Thailand is risking its status as the world's biggest rice exporter because of a controversial government-purchasing policy to boost farmers' incomes. VOA's Daniel Schearf reports that rice industry insiders say the costly program is inefficient and money would be better spent on long-term investment.

Thailand rice prices stir up debate

Published on Aug 24, 2012 by EnglishNewsToday : Thailand's governing Pheu Thai party won last year's election partly based on a promise to improve the income of rice farmers. The government introduced a scheme which currently pays them around 50 to 60 per cent more than market prices. The International Monetary Fund estimates that this could amount to $3.8bn, excluding the cost of storage. Despite the cost, the government says it will continue with the programme, because it has a duty to look after farmers. But not everyone agrees that the benefits are worth it.

Russia joins World Trade Organization

Published on Aug 23, 2012:

Brazil among highly unequal countries of world

Published on Aug 25, 2012 :

National Debts & International Law : Odious Debts.

(there are precedence before)

Published on Aug 23, 2012 by TheRealNews : Leonce Ndikumana: Tunisia to audit foreign debt and reject loans embezzled by former dictator.

Why China's Growth Is Worse Than You Think

Published on Aug 8, 2012 by WSJDigitalNetwork : Gordon Chang, author of "The Coming Collapse of China" joins Simon Constable on The News Hub to discuss why growth in China is even slower than official statistics suggest and whether the fix is already in for the upcoming trial of Gu Kailai?

     

Meritocracy : Why Our Elites and Leaders Fail

The Nation's Chris Hayes:

Published on Aug 6, 2012 by ForaTv : Editor of The Nation Chris Hayes argues that the decline of meritocracy in U.S. leadership is resulting in elites that cannot help but fail. "We have a social model that is breaking down before our eyes," says Hayes, "a method of elite selection that is growing increasingly sclerotic, rigged, and corrupt."

Nobel Economist : 'Scrap banks or they'll bring chaos'

Published on Aug 5, 2012 by RussiaToday : Nobel Economics Laureate Edward Prescott explains what he thinks has gone so wrong in the region, and what needs to be done to put it right.

Wealth & the Stock Market : Mark Zuckerberg experience!

Facebook founder and CEO Mark Zuckerberg at a News conference in October 2010. (Justin Sullivan/Getty Images)

Zuckerberg no longer top 10 tech billionaire

Mark Zuckerberg’s is no longer one of the world's top 10 tech billionaires; his fortune fell by $423M on Thursday to $10.2 billion. 

Facebook CEO Mark Zuckerberg is no longer one of the world's top 10 technology billionaires.

Bloomberg reported Zuckerberg’s wealth fell by some $423 million on Thursday to $10.2 billion as Facebook stock plummeted to $20.04 a share.

Mashable wrote the stock made modest gains of about 2 percent at one point in trading on Friday.

The tech website wrote the Facebook co-founder is now worth less than James Goodnight, the co-founder of SAS Institute - who replaces him as technology’s 10th-richest person on Bloomberg's Billionaires Index.

Zuckerberg owns 503.6 million Facebook shares with an option to buy another 60 million at $.06 a share. Mashable added he has "$150 million in cash and other liquid assets."

This week has been full of bad news for the 28-year-old.

On Thursday, GlobalPost reported his younger sister, Arielle, announced she will be working at rival Google.

According to the New York Daily News, Arielle works as a product manager at Wildfire Interactive, which was purchased by Google. She tweeted "Not gonna lie...This feels pretty awkward."

Original report | 3 Aug 2012

The Chabad The Empire The Usury - Michael Hoffman

Published on Aug 3, 2012 by 108morris108 ; Chabad Lubavitch is an Organised Political Power.

6 Things You Should Know About the $21 Trillion the World's Richest People Are Hiding In Tax Shelters

$21 trillion. That's how much the world's richest people are hiding in offshore tax havens worldwide. Or it may be more, as much as $32 trillion—the real amount is, of course, almost impossible to track. [Malaysia among top 20 losers]

>>>SNIP

James S. Henry, who was former Chief Economist for McKinsey & Co. and is the author of the book The Blood Bankers as well as articles for publications including The Nation and The New York Times , dug into information from the Bank for International Settlements, the International Monetary Fund, the World Bank, the United Nations, central banks, and private sector analysts and found the outlines of the giant pool of cash floating in that nebulous location known as “offshore”. (And this is just money—the report leaves out things like real estate, yachts, art, and other forms of wealth the super-rich are hiding, untaxed, in offshore tax havens.) Henry refers to it as a “black hole” in the world economy and notes that, “despite taking pains to err on the conservative side, the results are astonishing.”

There's a lot of information to wade through in this report, so we've broken out 6 things you should know about the money the world's richest are keeping from the rest of us.

1. Meet The Top .001%

“By our estimates, at least a third of all private financial wealth, and nearly half of all offshore wealth, is now owned by world’s richest 91,000 people– just 0.001% of the world’s population,” the report says. Those top 91,000 have about $9.8 trillion of the total estimated in this report—and fewer than ten million people account for the whole pile of cash.

Who are those people? We know they're the richest, but what else do we know about them? The report mentions “30-year-old Chinese real estate speculators and Silicon Valley software tycoons,” and those whose wealth comes from oil and the drug trade. It doesn't mention, but could, US presidential candidates—Mitt Romney's famously taken flak for having money stashed in a Swiss bank account and in investments located in the Cayman Islands. ( Politifact rated these statements in a recent Obama ad “true.” )

Drug lords, of course, need to hide their ill-gotten gains, but plenty of the other ultra-rich are simply avoiding paying taxes, constructing complicated trusts and other investments just to shave a few more points off the bill they pay to their home country. And it's all adding up.

2. Where's the Cash? It's Complicated

“Offshore,” according to Henry, isn't a physical location anymore—though plenty of places like Singapore and Switzerland, he notes, still specialize in providing “secure, low-tax physical residences” to the world's rich.

July 25, 2012  | Read more >> 

Privatization: The Big Joke That Isn't Funny

The privatization of public goods and services turns basic human needs into products to buy and sell. That's more than a joke, it's an insult, it's a perversion. It generally benefits only a privileged group of businesspeople and their companies while increasing inequality and undermining the common good.

Various studies have identified the 'benefits' of privatization as profitability and productivity, efficiency, wider share ownership and good investment returns. These are business benefits. More balanced studies consider the effects on average people, who have paid into a long-established societal support system for their schools and emergency services, water and transportation systems, and eventually health care and retirement benefits. These studies have concluded that:

• Privatization has generated large profits for new owners but these have not been shared with the general public.

• The potential benefits of privatization are often outweighed by high contracting costs and opportunism.

• Most privatization programs appear to have worsened the distribution of assets and income, at least in the short run.

While privatization may lead to efficiencies in producing goods, it is generally only true under conditions of competition and regulation. The New Jersey Privatization Task Force asserted that "States that have had the most success in privatization created a permanent, centralized entity to manage both privatization and related policies aimed at increasing government efficiency."

In the U.S. and around the world, privatization has simply not worked in industries that provide essential public goods and services:

Indigenization law in Zimbabwe

Published on Jul 29, 2012 : Indigenization law makes native Zimbabweans shareholders of foreign companies.

Spain bans short-selling of market shares.

Temporary measure by stock market watchdog CNMV is prompted by volatility in country's and European markets.

Spain's stock market regulator has temporarily banned short-selling of shares owing to volatility in Spanish and European markets.

CNMV said on Monday that the ban would remain in place for three months, adding that Italy had taken similar steps.

In a short sale, investors sell stock that they do not own, betting that they can buy it back at a lower price. The investor seeks a profit by betting that the price of certain shares will fall.

Short-selling of shares has been blamed for driving down markets during the financial crisis.

The move came as the financial pressure on the recession-hit country reached a level that saw other European countries need a financial bailout.

The yield on Spain's benchmark 10-year bond spiked 0.23 percentage points to 7.46 per cent, well above the 7.0 per cent danger level for long-term funding.

Any yield over 6.0 per cent is widely seen as unsustainable for long-term funds, with 7.0 per cent the level at which Greece, Ireland and Portugal had to ask for outside help from the EU and the International Monetary Fund.

Gini Coefficient : the measurement of Income Inequality

The question is how can we measure Income Inequality? Fortunately it can be measured with a statistical approach known as the Gini Coefficient.The Gini Coefficient was developed by a statistician named Corrado Gini, and it is a measure of the income distribution of the population in a country. It range between 0 and 1 with 0 being in perfect equal and 1 being highly unequal. It helped define the gap between the rich and poor nations. The income distribution of a nation can also be represented graphically with the Lorenz curve below.

The upward sloping 45 degrees sloping line represents the equal distribution of wealth. An example will be the intersection point of the 20% of the income distributed and the 20% of the population. On the y-axis (vertical) you have the income distribution as expressed in decimals and on the x-axis you have the wealth of the nation. The area that is shaded in red represents the ‘area of inequality’ in income distribution. So the flatter the Lorenz curve the bigger will be the 'area of inequality' and hence income distribution.

An example of unequal distribution is where the 11% of income intersects with the 40% of the population on the Lorenz curve. This shows that 11% of the income is distributed to 40% of the population.

How Malaysia compared to the rest?

Anyway as of 2009 Malaysia is ranked 102 out of 136 countries surveyed by the CIA for the most unequal income distribution. The following is the income distribution of different ethnic in Malaysia and also its Gini coefficient from 1995 till 2009.

Column1	Column2	Column3
GINI Coefficient Of Malaysia
Etnicity	2004	2009
Bumiputra	0.452	0.44
Chinese	0.446	0.425
Indian	0.425	0.424
Others	0.462	0.495
MALAYSIA	0.462	0.441

Source : Economic Planning Unit 2009

The performance of Malaysia’s Gini Coefficient from 1995 – 2009

Source : Department of Statistics Malaysia

According to World Bank, Malaysia was one of the few East Asian countries that reverse its income inequalities over the past decades but unfortunately reverses its direction since the 1990s. In other words policies drafted by policy makers since then are not effective.

This may be due to the bias policies that are drafted to the benefit of the ‘Bumiputra’ community while neglecting others and also the emergence of a new ‘ruling class’ that are make up of political cronies. This new group are given special treatments and are encouraged by the ‘powers to be’ to gobble up much of the nations strategic and big businesses in order to make up what they called the ’30 percent Bumiputra quota’.

Needless to say the end result is the re-emergence of the old Colonial type of ‘Rent Seeking’, businesses where being the monopoly or duopoly is the order of the day. As we know being in a position to monopolize any sector of the economy will only resulted in being contented. No incentive for being innovative and competitive made this conglomerates being redundant and badly managed and in the end left to decay.

Good examples include MAS, PERWAJA STEEL, PROTON and Bank Bumiputra just to name a few.

Extract from :

Neo Capitalism is about, Socialization of Private debts:

Shaking Spain: 'Take away people's food & homes - expect violence'

Published on Jul 20, 2012 by RussiaToday : Police have used rubber bullets and tear gas to disperse angry protesters thronging the streets of Spain. Dozens of people were injured and a number of activists detained during the latest nationwide anti-austerity demonstrations. In a major show of strength, hundreds of thousands have been taking part in the protests. People marched in 80 cities across the country to protest against more suffocating austerity which is to come. That's after the German Parliament gave the green light to the 100-billion Euro bailout for the country's battered banks. The EU's finance ministers are now expected to approve the conditions for the financial lifeline to Madrid. Carlos Delclos, a sociologist at Pompeu Fabra University, believes the situation in Spain is only going to go from bad to worse.

A Capabilities Gap: The Emergence of a 'Two-Speed West'

Published on Jul 19, 2012 by ForaTv : Thomas J. Wright, Fellow at the Brookings Institution, warns about the danger of an economic capabilities gap with the emergence of a "two-speed West". Wright argues that recession will endure, and poor EU spending choices will have dramatic consequences.

150 years history America Productivity Versus Real Wages.

Uploaded by gevidn on May 28, 2010:
Prof Rick Wolff - talks about 150 years of American Experience, Productivity, real wages & consumption.

Did Social Over Spending Cause the Euro-Crisis?

Published on Jun 10, 2012 by TheRealNews : Carlo Panico: Most media pays no attention to scientific economic literature.

.. the irrationality of capitalism?

Euro-Chaos and Global Capitalism

Uploaded by TheRealNews on Nov 4, 2011 Leo Panitch: We are witnessing  and the incredible struggle of people in the street.

Growth : India down to forth place.

India behind China Philippines and Indonesia
India's self-inflicted economic crisis .

Published on Jun 8, 2012 by ReutersTV : Political inertia and rampant corruption are to blame for the country's economic woes

Paul Krugman on austerity and cuts (on Newsnight, 30 May 2012).

Published on May 31, 2012 by leftfootforwardtv : Nobel laureate Paul Krugman takes down a fat cat Tory donor and a Tea Party Tory MP on BBC Newsnight, admonishing their austerity lust and cuts hunger.

CrossTalk: End of Capitalism

Uploaded by RussiaToday on Sep 26, 2011

Has the system outlived itself? Will a new form of capitalism emerge or will we see a completely different model? Is capitalism's demise inevitable or can it still prove itself? Tom Palmer, Richard Duncan and Arun Gupta CrossTalking on September 26.