Timpuri grele

Domnule Chirovici, nici un guvern si nici o natiune nu ar putea,

Domnule Chirovici, nici un guvern si nici o natiune nu ar putea, ca doar in trei luni , ianuarie -martie 2010 cu mentionati dvs. in articol, sa compenseze prin masuri minune dezastrul provocat de 20 de ani de gestionare economica dezastroasa si total potrivnica interesului national. In plus, in conditiile unei anuntate concurente acerbe pentru fonduri si piete de desfacere, nici o tara sau institutire financiara nu doreste ca o alta tara, in speta Romania, sa iasa usor din criza. Trebuie sa recunoastem cu totii ca optimismul exagerat, singurul capitol la care Puterea a excelat in ultimul an si jumatate, nu ne va scoate din criza, Romania urmand sa calce pe urmele Greciei spre un deznodamant chiar mai tragic decat al acesteia. In ultimul eseu pe care l-am publicat pe 10.03.2010, pe blogul http://salvati-romania-azi.blogspot.com/, intitulat "Singura solutie de iesire din criza - Scoaterea Romaniei la mezat - a ceea ce a ami ramas din ea" explic detailat cauzele care au dus la esecul tarii noastre si perspectivele sumbre care ne asteapta. Consider ca Dvs., ca si alti intelectuali cu vizibilitate, aveti datoria si obligatia morala sa prezentati corect situatia grea in care va intra Romania si generatiile viitoare de romani, si sa nu cautionati, prin adevaruri partiale si epitete soft, o guvernare si o clasa politica iresponsabile. Va doresc in continuare multa obiectivitate si multa dorinta de a servi interesul national.

Adevar graiti, domnule Chirovici. Am avut o sansa si se pare ca a

Adevar graiti, domnule Chirovici. Am avut o sansa si se pare ca am ratat-o.

domnule chirovici sunteti una dintre persoanele cela mai intelige

domnule chirovici sunteti una dintre persoanele cela mai inteligente din spatiul public romanesc. pacat ca nu sunteti in politica sa puteti schimba ceva. aveti o viziune foarte clara si corecta asupra situatiei economiei.

Domnule Chirovici, aveti si ati avut dreptate. Imi pare rau ca nu

Domnule Chirovici, aveti si ati avut dreptate. Imi pare rau ca nu sunteti ascultat de cine trebuie.

D-le EOC, When plunder becomes a way of life for a group of me

D-le EOC,

When plunder becomes a way of life for a group of men,
they create for themselves,
in the course of time,
a legal system that authorizes it,
and a moral code that glorifies it.a??
a?? Political economist Frederic Bastiat, The Law [1850]
a??I used to think of Wall Street as a financial center.
I now think of it as a crime scene.a??
a?? Filmmaker Danny Schecter, Plunder (2009)
U.S. Economy: The Move Towards Deflation is Underway
U.S. Economy: The Move Towards Deflation is Underway

by Bob Chapman


Global Research, April 15, 2010
The International Forecaster - 2010-04-14


Those of you 60 years old and older will spend the next 25 years struggling to survive one of the worst depressions in history or doing whatever you can to support your children and grandchildren.



The move toward eventual deflation is underway. It wona??t happen tomorrow, but it is underway. The situation regarding the credit crisis has never been solved, unless you want to keep two sets of books in perpetuity and mark-to-model until the end of time. De-leveraging is in part still in process. The banks have a long way to go. In fact, one has made toxic garbage attractive to banks and bottom fishers. Banks and investment houses as owners and buyers will get taken off the hook by government via loans. This program is supposed to take underwater homeowners on to dry land, when in fact ita??s another banking and Wall Street giveaway you will get to pay for. This will be another bailout similar to Bear Stearns that the Fed has finally admitted too. They used tens of billions of dollars to assure JPMorgan Chase would be protected as it took over Beara??s assets, including their large short silver position, which just happened to be naked. They did the same thing at AIG prior to its bailout as well. Incidentally, the taxpayer gets to pay for all this. The Fed still does what it pleases for the financial sector whether you like it or not. All the elitist cronies have to be bailed out before the world economy is taken under.



The last 9 years were losers. Trillions of dollars were forced into the economy and officially all we had to show for it was 2% growth. The price for that was an inflationary/recession/depression. In that process millions of businesses and individuals lost everything they had worked a lifetime for. Even those in the stock market and bonds lost money on a net basis. The only winners were those who sold their homes near the top of the market and those invested in gold and silver related assets.



Based on both earnings and dividends the outlook for the stock market is not very appealing at todaya??s levels. We are still in a credit crisis and will be for the next couple of years, but it is only a matter of time before the debt crisis begins. The Fed cannot spend its way out of this one, just as they couldna??t in the late 1930s. There is no chance the budget deficit can be brought back into balance and as a matter of fact it will worsen. We have GDP growth based on inventory growth and bogus statistics. What does Washington do after the stimulus ends this month? Inject in more like they just did with HIRE, some $17 billion or add another $500 billion, which is what the economy needs before it collapses. Then will the Fed that is withdrawing funds throw in another $500 billion? Companies are protecting themselves, their earnings and their existence. They wona??t stop laying off until they believe that the depression is over. Last weeka??s survey showed that medium-to-small business doesna??t see any kind of revival for 14 to 18 months. They voted 92% that way.



If the Fed bought 80% of treasury and Agency paper last year will they do that again this year? Who else will buy this paper; our retirement plans?



The probability of someone out of work finding a job is now at the lowest level since 1948. Last month half the jobs created came from bogus birth/death ratio and almost all the rest from census jobs, which will be wiped out in a few months. In reality, no real growth. Remember the easiest way to cut expenses is to lay people off and cut all those benefits. They make up 70 to 75 percent of corporate costs. When we were young we all had what was called pet peeves. Our pet peeve is writers who know the U3, 9.7% unemployment, is a scam and they still quote it and even sometimes in the same breath mention U6. Again they want to be accepted or they are under government pressure. We have never seen such lying in 50 years. These people should be ashamed of themselves. We expect it from Wall Street, banking and government, but not from journalists. Incidentally, we need 125,000 new jobs a month that under present circumstances is a joke. That is even after two stimulus programs and trillions from the Fed. Dona??t you find it a little odd that after all that money and credit the economy cana??t stage a real rally? Back to unemployment a?? we see writers who deliberately misquote the actual U6 number and make excuses that it includes part timers, as a sop to the government and to be accepted. How about the bogus birth/death ratio?



If it wasna??t bad enough that the big hitter Elites were getting all the bailout money now small businesses are going to get hit with big tax increases.



Even though the Fed has been withdrawing money and credit from the system they know if they do not pour money back into the system it will not only have a double dip recession/depression, we will probably have a deflationary collapse. The big question is when will the elitists pull the plug?



Next year we will see higher taxes and continued government increases in spending. A continued crowding out by government pushing interest rates higher. Ongoing increases in money and credit and more monetization by the Fed. That will give us higher inflation for the next 21 months. That is at least a real 14%. We will also find out whether Greece was a planned or unplanned event. Will the powers that be opt for a deflationary depression?



All of the above events are negative for both stocks and bonds. As interest rates edge upward, especially on the long end, bonds will fall in value. That includes government, corporate and municipals. Stocks will fall and at least test 6,500 on the Dow. Commodities and gold and silver will continue their bull markets. Unemployment will rise and consumption as a percentage will move from 69.5% toward the long-term mean of 64.5%. Overall the outlook generally is bad, and it could be disastrous. All of you who are contemplating retirement put it off and continue to work. Whether we have inflation or deflation we will have less purchasing power. You will need your job to help support your children and grandchildren. Whatever you have in savings and investments you have to preserve and the best way to do that is with gold and silver related assets. The world economy will be in great turmoil and there is the distinct possibility of another war. If you look at history you will find each time there is severe economic or financial problems another war is arranged. The years ahead are not going to be a piece of cake.



The operative word is austerity something the IMF has specialized in for control of governments and economies. That is what we will be practiced on America. You are seeing that reflected in unemployment as business increases profits and throws away employees like used dishrags, especially the longer-term employees. We just had an unconstitutional healthcare bill rammed through Congress and now government will soon unveil its first version of guaranteed annuities, or it might also be called another tax to fund the unpayable debts of a bankrupt government. All this while banking, Wall Street and insurance prosper, as well as selective other transnational conglomerates. It is all about control and economic and financial enslavement. Banks and Wall Street will ride roughshod over America collecting more and more wealth. Fiscal responsibility is not going to be imposed on Washington, but upon the American people. How else can the system continue as it is? Someone has to pay for it and it is not going to be the rich who own your congressmen and senators. Wall Street and Madison Avenue cana??t allow government to be blamed for debt; its consequences have to be laid onto consumers. It has to be understood that consumers caused all this due to their profligate spending, so it is only natural that they should be the ones to pay the debt.



Part of this consumer payback will be the scaling back of Social Security payments and Medicare benefits. You are already seeing the loss of Medicare benefits and the higher costs being thrown upon the consumer. That includes the right to early death, so that the system doesna??t have to keep useless eaters alive. If Congress refuses to pass these austerity measures than our President will go around Congress by one means or another, or as you recently saw with health care reform hea??ll simply purchase the votes with taxpayer funds. What a great system a?? a democratic dictatorship. Corporatist fascism at its finest.



The banks and Wall Street know the above is on the way. That is why lending to small businesses and individuals has been reduced by 20%. Many of these entities are going to fail and the lenders do not want to have to write off the bad debt. Banks, investment banks and brokerage houses are in need of more securitization of debt. That is how they make fabulous amounts of money. They simply package debt and sell it to other professionals, who supposedly know what they are doing and buying. We refer you back to CDOs, ABS and MBS, which got us into the credit crisis nightmare we are still in the midst of. Lenders are saying not us. Either we syndicate or we cut back on lending. Banks and brokerage houses still are leveraged 40 to 1 and they are still bankrupt. The BIS and the FASB, with the concurrence of government and the powers behind government, that they are to continue to be allowed to keep two sets of books and mark their balance sheets to fantasy. They value investments at whatever they wish. You cannot do that you would go to jail if you did. It is called fraud. Ita??s despicable, disgraceful and total moral capitulation. Overvaluation of assets as we are finding out is 50 to 97 percent of underlying assets. Look at some of the recent bank failures and what is left of there books. Overstatement of assets is going to get worse and, of course, the operators of these institutions are held civilly and criminally blameless. Can you imagine taking over a bank or brokerage house and finding that 40% or less of the assets are salvageable. This is what is going on and the public knows little about it. This is why there are loss-sharing agreements between the FDIC and those who take the sick banks over.

Bob Chapman is a frequent contributor to Global Research. Global Research Articles by Bob Chapman
The Coming European Debt Wars EU Countries sinking into Depression
The Coming European Debt Wars
EU Countries sinking into Depression

by Prof. Michael Hudson


Global Research, April 9, 2010



Government debt in Greece is just the first in a series of European debt bombs that are set to explode. The mortgage debts in post-Soviet economies and Iceland are more explosive. Although these countries are not in the Eurozone, most of their debts are denominated in euros. Some 87% of Latviaa??s debts are in euros or other foreign currencies, and are owed mainly to Swedish banks, while Hungary and Romania owe euro-debts mainly to Austrian banks. So their government borrowing by non-euro members has been to support exchange rates to pay these private-sector debts to foreign banks, not to finance a domestic budget deficit as in Greece.



All these debts are unpayably high because most of these countries are running deepening trade deficits and are sinking into depression. Now that real estate prices are plunging, trade deficits are no longer financed by an inflow of foreign-currency mortgage lending and property buyouts. There is no visible means of support to stabilize currencies (e.g., healthy economies). For the past year these countries have supported their exchange rates by borrowing from the EU and IMF. The terms of this borrowing are politically unsustainable: sharp public sector budget cuts, higher tax rates on already over-taxed labor, and austerity plans that shrink economies and drive more labor to emigrate.



Bankers in Sweden and Austria, Germany and Britain are about to discover that extending credit to nations that cana??t (or wona??t) pay may be their problem, not that of their debtors. No one wants to accept the fact that debts that cana??t be paid, wona??t be. Someone must bear the cost as debts go into default or are written down, to be paid in sharply depreciated currencies, but many legal experts find debt agreements calling for repayment in euros unenforceable. Every sovereign nation has the right to legislate its own debt terms, and the coming currency re-alignments and debt write-downs will be much more than mere a??haircuts.a??



There is no point in devaluing, unless a??to excessa?? a?? that is, by enough to actually change trade and production patterns. That is why Franklin Roosevelt devalued the US dollar by 75% against gold in 1933, raising its official price from $20 to $35 an ounce. And to avoid raising the U.S. debt burden proportionally, he annulled the a??gold clausea?? indexing payment of bank loans to the price of gold. This is where the political fight will occur today a?? over the payment of debt in currencies that are devalued.



Another byproduct of the Great Depression in the United States and Canada was to free mortgage debtors from personal liability, making it possible to recover from bankruptcy. Foreclosing banks can take possession of collateral real estate, but do not have any further claim on the mortgagees. This practice a?? grounded in common law a?? shows how North America has freed itself from the legacy of feudal-style creditor power and the debtorsa?? prisons that made earlier European debt laws so harsh.



The question is, who will bear the loss? Keeping debts denominated in euros would bankrupt much local business and real estate. Conversely, re-denominating these debts in local depreciated currency will wipe out the capital of many euro-based banks. But these banks are foreigners, after all a?? and in the end, governments must represent their own home electorates. Foreign banks do not vote.



Foreign dollar holders have lost 29/30th of the gold value of their holdings since the United States stopped settling its balance-of-payments deficits in gold in 1971. They now receive less than a thirtieth of this, as the price has risen to $1,100 an ounce. If the world can take that, why shouldna??t it take the coming European debt write-downs in stride?



There is growing recognition that the post-Soviet economies were structured from the start to benefit foreign interests, not local economies. For example, Latvian labor is taxed at over 50% (labor, employer, and social tax) a?? so high as to make it noncompetitive, while property taxes are less than 1%, providing an incentive toward rampant speculation. This skewed tax philosophy made the a??Baltic Tigersa?? and central Europe prime loan markets for Swedish and Austrian banks, but their labor could not find well-paying work at home. Nothing like this (or their abysmal workplace protection laws) is found in the Western European, North American or Asian economies.



It seems unreasonable and unrealistic to expect that large sectors of the New European population can be made subject to salary garnishment throughout their lives, reducing them to a lifetime of debt peonage. Future relations between Old and New Europe will depend on the Eurozonea??s willingness to re-design the post-Soviet economies on more solvent lines a?? with more productive credit and a less rentier-biased tax system that promotes employment rather than asset-price inflation that drives labor to emigrate. In addition to currency realignments to deal with unaffordable debt, the indicated line of solution for these countries is a major shift of taxes off labor onto land, making them more like Western Europe. There is no just alternative. Otherwise, the age-old conflict-of-interest between creditors and debtors threatens to split Europe into opposing political camps, with Iceland the dress rehearsal.



Until this debt problem is resolved a?? and the only way to resolve it is to negotiate a debt write-off a?? European expansion (the absorption of New Europe into Old Europe) seems over. But the transition to this future solution will not be easy. Financial interests still wield dominant power over the EU, and will resist the inevitable. Gordon Brown already has shown his colors in his threats against Iceland to illegally and improperly use the IMF as a collection agent for debts that Iceland doesna??t legally owe, and to blackball Icelandic membership in the EU.



Confronted with Mr. Browna??s bullying a?? and that of Britaina??s Dutch poodles a?? 97% of Icelandic voters opposed the debt settlement that Britain and the Netherlands sought to force down the throat of Allthing members last month. This high a vote has not been seen in the world since the old Stalinist era.



It is only a foretaste. The choice that Europe ends up making will likely drive millions into the streets. Political and economic alliances will shift, currencies will crumble and governments will fall. The European Union and indeed, the international financial system will change in ways yet to be seen. This will be especially the case if nations adopt the Argentina model and refuse to make payment until steep discounts are made.



Paying in euros a?? for real estate and personal income streams in negative equity, where the debts exceed the current value of income flows available to pay mortgages or for that matter, personal debts a?? is impossible for nations that hope to maintain a modicum of civil society. a??Austerity plansa?? IMF and EU style is an antiseptic, technocratic jargon for life-shortening and killing impact of gutting income, social services, spending on health on hospitals, education and other basic needs, and selling off public infrastructure for buyers to turn nations into a??tollbooth economiesa?? where everyone is obliged to pay access prices for roads, education, medical care and other costs of living and doing business that have long been subsidized by progressive taxation in North America and Western Europe.



The battle lines are being drawn regarding how private and public debts are to be repaid. For nations that balk at repayment in euros, the creditor nations have their a??musclea?? waiting in the wings: the credit rating agencies. At the first sign a nation is balking in paying in hard currency, or even at the first hint of it questioning a foreign debt as improper, the agencies will move in to reduce a nationa??s credit rating. This will increase the cost of borrowing and threaten to paralyze the economy by starving it for credit.



The most recent shot was fired n April 6 when Moodya??s downgraded Icelanda??s debt from stable to negative. a??Moodya??s acknowledged that Iceland might still achieve a better deal in renewed negotiations, but said the current uncertainty was hurting the countrya??s short-term economic and financial prospects.a??[1]



The fight is on. It should be an interesting decade.




Prof. Micheal Hudson is Chief Economic Advisor to the Reform Task Force Latvia (RTFL). His website is michael-hudson.com.



[1] THE ASSOCIATED PRESS, a??Moody's Downgrades Iceland Outlook,a?? The New York Times, April 7, 2010.

Michael Hudson is a frequent contributor to Global Research. Global Research Articles by Michael Hudson

Pentru Catalin: Evident ca nimeni nu putea sa faca miracole in ac

Pentru Catalin: Evident ca nimeni nu putea sa faca miracole in aceste trei luni. Insa timpul este esential mai ales in vremuri de criza si ceea ce a lipsit, cred eu, nu este atit strategia, cit tactica. Totusi, nu are rost sa devenim catastrofici - Romania nu este (macar acum) in primejdie de a deveni o "Grecie" din punct de vedere financiar.

Intr-adevar, Guvernul este primul care ar trebui sa aiba initiati

Intr-adevar, Guvernul este primul care ar trebui sa aiba initiativa masurilor pentru iesirea din criza in care ne aflam. Pe de alta parte insa, in Romania oricat am vorbi la nivel teoretic, realitatea din strada e alta. Oricat i-am fi citit noi pe Adam Smith, Keyns, Friedman si altii, acesti economisti nu au scris si o teorie a coruptiei. Stiti ce s-ar fi intamplat daca Romania ar fi urmat exemplul Frantei si infiinta un fond de investitii? Sau ce se intampla daca Statul Roman injecta tone de capital in investitii? Oare se infiintau companii mixte cu capital strain? Oare se faceau achizitii de stat pentru a sprijini IMM-urile cu activitati cinstite, atat de incercate de criza? Povesti! S-ar fi atras pentru negocieri cativa investitori si li se vor prezenta locatii pe care sa-si deschida fabrici, pe terenuri cu pret umflat, proprietati ale rudelor nomenclaturistilor. S-ar fi facut achizitii de gazon si panselute pentru a impodobi locurile care vor fi sapate la anul pentru a schimba tevile. S-ar fi platit niste importante studii de fezabilitate pentru o retea de autostrazi planificata de comunisti in 68-69 si care nu se va face nici in 100 de ani. S-ar fi <<renovat>> centrul istoric al Bucurestiului, ca peste inca 12 ani sa ne intrebam <<de ce dureaza atat>>. Dupa 20 de ani de reformare a reformei reformelor, parca am cam pierdut pariurile si cu coruptia si cu agricultura si cu industria si cu tot. Domnule Chirovici, va provoc la un ultim pariu: punem pariu ca pierdem pariul cu criza? Sper sa am atat bucuria, cat si onoarea sa va invit la o cafea! Cu stima, Florin Ivan

In Romania a fost greu intotdeauna, si va fi greu in totdeauna. P

In Romania a fost greu intotdeauna, si va fi greu in totdeauna. Puneti niste ceapa, cartofi, niste gaini la curte si asta este. Daca nu va convine emigrati. Ca intotdeauna. Sau ce-ati crezut ca si Romania va devenii o tara ca tarile car nu sut Romanie?

Singura solutie pentru a porni motorul investitional este de a po

Singura solutie pentru a porni motorul investitional este de a porni motorul tiparnitei.Sau reducerea salariilor la nivelul anilor din urma cind ne laudam ca avem forta de munca ieftina pentru a atrage investitorii straini.Ei bine,forta de munca nu mai este deloc ieftina pentru investitori.China ,care a reusit in ciuda presiunilor sa mentina salariile scazute printr-o moneda subevaluata, nu are probleme.Noi am vrut leul tare,asa ca acum asteptam minuni

Da am avut o a doua sansa in Ianuarie. Nu asteptam minuni astepta

Da am avut o a doua sansa in Ianuarie. Nu asteptam minuni asteptam o gandire matura a guvernului nBOC. Din pacate tot corigent este Boc si cel care l-a ales premier. Ce investitii Dl Chirovici cand legea fiscala se schimba precum ciorapii de 2 ori pe zi? Cine sa vina sa investeasca intr-o tara unde taxele exagerate diminueaza costul inca redus al fortei de munca? Si fac o comparatie cu zona in care existam mai exact Europa. Ce investitor serios se risca la masa "alba neagra" a guvernului cel mai incompetent de n ori mai incompetent decat guvernul BOC1. Pai ministrii astia care stau de 2 ani pe aceleasi pozitii, care au facut mii de greseli din care nu au invatat nimic, ar trebui considerati tradatori de tara. Nu este posibil sa te manifesti infantil persistand in aceeasi greseala atucni cand ai ajuns pe pozitia pe care se afla domniile lor. In acele pozitii ar fi normal sa renunte la incrancenarea politica, la razbunarile infantile, la orgoliile prostesti. Inca nu au inteles ca nu in acest mod castiga simpatia poporului. Inca nu au inteles ca vor sa nu vor ei partidele politice vor defila in continuare si e normal sa fie asa, ba chiar e cel mai bine pentru Romania. Ei vor sa fie si reprezentantii partidului popular european si al partidului liberal european si al partidului socialist european si al partidului conservator european, etc. Atat de imbecili sunt incat nu inteleg ca nu se poate si ca Romania are nevoie de toate aceste partide care sa aiba corespondenta in partidele europene.
Asa se intampla in totalitarism. Poporul pierde pe limba unui singur om. Dar asta meritam pentru ca nu am avut taria sa facem ce au facut si Ucrainieinii si Modovenii la fraudele electorale. Asta am acceptat asta avem.

Pentru tot eu: "razbunari infantile, orgolii prostesti"

Pentru tot eu: "razbunari infantile, orgolii prostesti". Asta, domnul meu, este sport national in Romanica, la toate nivelurile, nu doar la cel politic/guvernamental. Cine cunoaste istorie, are macar "avantajul" de nu se mai mira de (aproape) nimic.