Stacy Summary: We are on the Edirol at the cafe. Topics of conversation: French socialist reaction to ketchup spills; MPs expenses and tax avoidance; Adam Curtis; cars driving past; and we play part of our interview with Michael Hudson.
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Stacy Summary: Corruption, corruption, corruption. It’s quite clear that the whole system is rotten. Part of the problem with government being so close to bankers and corporations is that the politicians feel like they should be getting kickbacks and be able to live the lifestyle that they themselves help create for said bankers with your tax money. Also, by voting in these politicians we give this whole set up legitimacy. What do you think?
With guest: Michael Hudson
Topics: Iraqi stock exchange; sovereign debt crises; currency volatility; a new class war; the rich will never pay taxes again; kleptocracy.
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Stacy Summary: So, North Korea sets off a nuclear bomb the size of Hiroshima, launches several missiles and the US sees no problem! Of course not, because we are still looking for those WMD in Iraq. I guess, also, having another race and religion of ‘evil doers’ makes the more lucrative “War on Oil Rich Muslims” a harder sell. (I might add that gold seems to know what the Chinese fishermen seem to know)
Update:
Stacy Summary: Okay, so the blonde Latvian story may be a bit frivolous on the surface. Is it, however, any more ridiculous (or dangerous) than Bernanke’s attempts to revive the economy through rigging house prices?
Stacy summary: Note that the IMF loan to Latvia is for 7.5 billion euro to a population of only 2.3 million; that is €3260 (USD$4566) for every man, woman and child . Also note that GDP per capita is US$11,985 in 2007. This sounds like the conditions that led Germany down their own celebrating blondes path.
“We could be nearing the end-game for the US dollar but the Fed has little choice at this point. We’re in a vicious circle where any policy aimed at supporting the US economy must be at the expense of the dollar.”
Stacy Summary: Who knew that the French citizens held so much gold? And who knew they would trade it in for a pack of fags?? Especially considering the implications for the future in the Treasury sell off story, it seems a daft time to trade in your gold.
Stacy Summary: We are recording today so headlines won’t be up for another few hours. In the meantime, here is The Truth About Markets New Zealand which aired today. Again, they do station identification breaks every ten minutes, so you will hear a pause during those moments.
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Headlines on that libel story:
Ms. Ehrenfeld has found supporters in Congress, where Senators Arlen Specter of Pennsylvania and Joseph I. Lieberman of Connecticut have introduced a bill that would allow Americans to countersue for triple damages if a foreign libel suit was “part of a scheme to suppress a U.S. person’s First Amendment rights.”
Stacy Summary: Hoarding? Or getting rid of dollars?
THE big rally in the oil price in recent weeks is down to Chinese stockpiling, a leading energy industry analyst has claimed.
Oil industry experts Bernstein Research say they have been spying on the world’s third-largest economy and have concluded China is actively hoarding supplies.