Monthly Archives: July 2013

Support These 3 Bills Or Live Like a Slave

Support These 3 Bills…. Or Live Like a Slave

 

Rush Holt’s “Surveillance State Repeal Act”
http://ggsidedocs.blogspot.com.br/2013/07/rush-holt-repeal-surveillance-state-act.html

 

Alan Grayson’s “Mind Your Own Business Act”
http://mindyourownbusinessact.com/

 

Elizabeth Warren and John McCain’s “21st Century Glass Steagall Act“
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/12/elizabeth-warren-and-john-mccain-want-glass-steagall-back-should-you/

Why am I so confident this crash will happen sooner than later and is inevitable?

1. It is because the causes of the previous financial crisis haven’t been resolved and the government hasn’t done anything to fix the basic problems in our economy.

 

2. It is because we still have a quadrillion dollar derivative overhang which dwarfs the size of the total global GDP by a factor of 10 to 1

 

3. It is because derivatives still haven’t been regulated and are still growing strong.

 

4. It is because creditors and investors are still at the behest of a central bank (Federal Reserve) and policymakers that are robbing them of their money every day.

 

5. It is because complacency is coming back and we are losing momentum every passing day.

 

6. It is because regulators and lawmakers who needed to impose rules so failing banks could be

 

shut down, allowed those incompetent banks to operate indefinitely with taxpayer support. They clearly have taken all the wrong steps in terms of the structural underpinnings of our capital markets.

 

From
Ziad K Abdelnour