www.presstv.com Max’s guest for this week’s show is Karl Denninger who is the founder of market-ticker.org. Karl gives some predictions on the US economy in the New Year. He is downbeat and forecasts a terrible year for the housing, banking and myriad of sectors. He says the Europe would also disintegrate and says people there will have a weaker euro in parity with the dollar. China will also break the peg and people would see a rise in commodity price, bubble assets and less export to the US. Enjoy the show.
09. November 2010: There is no possibility of agreement at the upcoming G20 summit because the US is declaring financial war on other countries, believes American economist and wall street analyst Prof. Dr. Michael Hudson. The US has been pushing China to revalue its currency — at a time when Washington has been pumping billions of dollars into its economy — a move viewed by other countries as an attempt to deliberately weaken the greenback. The issue of exchange rates is expected to be one of the toughest discussion points at the G20 summit in South Korea later this week. Michael Hudson, a renowned economist and Wall Street financial analyst and advisor, says the meeting in Seoul will not bring an end to global currency wars. “The US is going to China and saying ‘we want you to commit economic suicide just like Japan did. We want you to follow the same way: we want you to re-value your currency, we want you to squeeze your companies, we want you to go bankrupt so we can make our profit at your expense,” says Hudson. “We want you the Chinese to allow our banks to gamble on your currency and make a huge gain on foreign exchange speculation so that our banks can get out of the problem that we have got them into. Will you please help us by going bankrupt for our benefit? Well, you can imagine what the Chinese are saying — they are laughing,” Hudson adds. The American plan to devalue the dollar would flood the global economy with money that would be used to buy out …
Sept. 7 (Bloomberg) — Michael Burry, the former head of Scion Capital LLC who predicted the housing market’s plunge, talks with Bloomberg’s Jon Erlichman about the financial crisis and the housing market. (Source: Bloomberg)
Barry Eichengreen – renowned professor of Economics and Political Science at the University of California Berkeley, former senior advisor to the IMF, author of “Globalizing Capital: A History of the International Monetary System”, and editor of “Rescuing our Jobs and Savings: What G8 Leaders can do to Solve the Global Credit Crisis” – provides a detailed overview of the financial crisis. He discusses at length: (a) the excessive risk undertaken by a variety of financial institutions as a result of gradual deregulation of financial services sector in the second half of 20th century; (b) the role of both Republican and Democratic parties in maintaining deregulation policies following introduction of US President Ronald Reagan’s “free markets” ideology in 1980; (c) the inability of the US to properly manage or channel massive capital inflows from the developing world – especially China – during the last decade; (d) the failure of Bush administration to mount an adequate response to the financial crisis on account of its initial state of denial, financial engineering mindset, and “free markets” ideology; and (e) actions – such as, interest rate increases, deficit reduction, recapitalization of banks, and economic stimulus – that would have greatly mitigated the severity of the financial crisis. In addition, he dwells on: (f) the impact of the financial crisis on American power and globalization, as well as (g) the nature of institutional reforms required at global level to …
May 21 (Bloomberg) — Gary Townsend, president and co-founder of Hill-Townsend Capital LLC, talks with Bloomberg Television about legislation overhauling the financial regulatory system. (This report is an excerpt. Source: Bloomberg)
May 20 (Bloomberg) — Mark Calabria, director of financial regulation studies at Cato Institute, talks with Bloomberg’s Mark Crumpton about the outlook for Senate passage of legislation overhauling financial regulation. (Source: Bloomberg)
May 19 (Bloomberg) — Scott Talbott, senior vice president for government affairs at the Financial Services Roundtable, talks with Bloomberg’s Mark Crumpton and Julie Hyman about legislation to overhaul the US financial system. (Source: Bloomberg)
