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Sunday, December 11, 2011

Economic Stories of Relevance in Today's World -- December 11, 2011

City of Hickory takes over operations at Airport - River Hawk Aviation OUT - December 8, 2011 - ... the tale of this sordid mess with River Hawk obtaining a transfer of contract through the previous operator Profile Aviation. The City had every right to cancel the contract and went against Aviation Legal Counsel's wishes in granting the transfer of lease to a company that had previously operated a couple of other FBO's into bankruptcy. City Officials had been informed of several issues, but chose to ignore the warning and proceed ahead with the transfer of contract in late 2007.

Now four years later we are back to square one. In taking over the airport can we be assured that it will be run competently? Will this reacquisition cost tax payers anything? With the harm to the viability of the airport that has been caused, will those who placed the city in this position admit fault? Have any lessons been learned here?

Banks’ Q4 Earnings: Look Out Below! - Barron' - Avi Salzman - December 5, 2011 - Banks’ trading and investment banking results are expected to be lousy again in the fourth quarter, and today Wells Fargo analyst Matt Burnell got out the axe and started cutting his expectations. Burnell slashed his fourth quarter EPS estimates for the banks by an average of about 10%. Burnell is also worried about bank performance for the next couple of years, and cut estimates for 2012 and 2013 by an average of 1% “due to our concerns over a continuation of similar risk aversion in the future.”

Gary Gensler: A U-Boat Sent into the CFTC? - MFG Facts - When Gary Gensler was nominated to head the CFTC, most Americans had never heard of him. Yet he had been cruising the inner Beltway of D.C. and halls of influence for years, under the radar of most.  Genlser succeeded Brooksley Born who was given a very rough time by the club of Summers, Rubin, Greenspan and others when she sounded alarm bells on the rapid and unregulated growth of off-exchange derivatives. Born sought at least transparency as they “could pose potentially serious dangers to our economy.” Although appointed by Clinton, she never got his support and resigned from her post. For more on her prescient warnings, view this fascinating PBS documentary.  As more collapses happen, the failure to regulate off exchange derivatives from CDO’s to re-purchase agreements are increasingly understood to be a prime source of financial collapse....

Contagion Catastrophe - Europe is closer than you think to bringing down the American—and, therefore, the global economy - National Journal - By Jim Tankersley  - December 2, 2011 - This is the worst-case scenario from Europe, and it just might come true: Italy defaults on its debts. Every major Italian bank collapses. Recession grips the eurozone. Sovereign defaults and bank failures ripple across the Continent. Saddled with bad loans to nations and lenders in Europe, American banks hemorrhage cash. Credit freezes in the United States. Multinational companies, unable to raise money, curb U.S. investment and hiring. Wall Street demands, but fails to get, new bailouts. The entire developed world plummets into recession and, quite possibly, depression. This, in contrast, is the placid warning that President Obama gave Americans about the threat: “If Europe is contracting,” he said on Monday, “then it’s much more difficult for us to create good jobs here at home.” There’s still a chance that Europeans, through some combination of fiscal and monetary action, can stop the crisis before it shatters the feeble U.S. recovery. But the worst case is so much worse than Obama’s description, and Washington has failed to prepare voters for the possibility. “The [potential] shock we’re talking about is of very large magnitude,” says Viral Acharya, a New York University professor who studies financial risk extensively. “If you’re just having an Armageddon coming your way, [America’s] buffers may not be adequate.”

Barack Obama is Destroying Our Economy on Purpose - Worldview Radio - Brannon Howse - March 9, 2011 : A pair of radical Columbia University professors by the name of Richard Andrew Cloward and Frances Fox Piven wrote an article in the radical magazine known as The Nation. The article was published on May 2, 1966 and laid out what is now known as the "Cloward-Piven Strategy". The plan calls for the destruction of capitalism in America by swelling the welfare rolls to the point of collapsing our economy and then implementing socialism by nationalizing many private institutions. Cloward and Piven studied Saul Alinsky just like Hillary Clinton and President Obama. Listen as Brannon and his guest James Simpson explain how Cloward and Piven inspired the creation of ACORN that Obama worked for as a community organizer. This interview must be e-mailed all over the country. Americans must awaken and understand the goal of these radicals and what is to come if they succeed. Time is of the essence. Obama is not over his head as some have claimed; he knows exactly what he is doing. Understand the Cloward-Piven Strategy, the rules of Saul Alinsky and their Cultural Marxist worldview and you will understand that what is occurring is not by mistake.
Download the MP3

Bob Chapman - SBG Report - Part 1 - December 10, 2011

Bob Chapman - SBG Report - Part 2 - December 10, 2011

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