Financial Crisis

I recently had a chance to attend a showing of the documentary The Economics of Happiness. It has a very strong message about the fiscal and social problems of globalization, especially its impact beyond the western world. As a solution, the film suggests a movement towards focusing on communities and localization. Here’s the trailer and a plot synopsis:

Economic globalization has led to a massive expansion in the scale and power of big business and banking. It has also worsened nearly every problem we face: fundamentalism and ethnic conflict; climate chaos and species extinction; financial instability and unemployment. There are personal costs too. For the majority of people on the planet, life is becoming increasingly stressful. We have less time for friends and family and we face mounting pressures at work.









Blake Ellis reports for CNN:

A devastating earthquake strikes Japan. A massive tsunami kills thousands. Fears of a nuclear meltdown run rampant. Bloodshed and violence escalate in Libya.

And U.S. companies selling doomsday bunkers are seeing sales skyrocket anywhere from 20% to 1,000%…




Sky News reports:

A senior economist at the worldwide bank HSBC has warned of civil unrest in Britain if food prices continue to soar.

Speaking on Jeff Randall Live, senior global economist Karen Ward cautioned that the UK could experience the kind of food riots seen in other countries.

“Even in the developed world I think we have very, very low wage growth, so people aren’t getting more in their pay packet to compensate them for food and energy, and I think we could see social unrest certainly in parts of the developed world and the UK as well.”…



USUncutAt Bank of America’s first Investor Conference in three years (3/8/11), organizers from US Uncut crashed the event to protest corporate tax dodgers and public service cuts. The room was packed with 300 hedge fund managers, institutional investors, & asset managers.

What US Uncut said:

When corporations like Bank of America don’t pay their fair share of taxes, we have to ‘cut’ teachers, firefighters, and public servants. Do you pay your taxes? So do we. Why don’t corporations pay their fair share, just like everyone else? Bank of America is Bad for America. Bank of America pockets Billions in profits and bailouts, but $0 in American taxes — that’s immoral and un-American.




Respect for Inside Job director Charles Ferguson for delaying the usual thanks to everyone he knows to say this:

“Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong.”



Undoubtedly, many are wondering if the unrest in Africa and the Middle East would spark any movements in the United States. What comparisons can be drawn from the protests in Wisconsin to the other protests seen around the world?

Paul Joseph Watson of InfoWars offers his perspective:

Last month we speculated how long it would take for the scenes on the streets of Cairo to be repeated in America. After all, Americans are facing similar levels of economic rape to those that prompted Egyptians to rise up and overthrow 30 year dictator Hosni Mubarak.

Now Wisconsin Congressman Paul Ryan (R) is making similar comparisons after protesters massed in the hallways of the Wisconsin state Capitol this morning as part of what Matt Drudge dubbed a “day of rage”…





If this economic crisis has done anything, it has exposed our so called “democracy” as a fraud.

I believe the problem is simple: Politicians are no longer accountable after they win the election. Because if they were accountable then they wouldn’t be able to transfer the massive amounts of taxpayer wealth to the bankers. They wouldn’t be able to ignore the massive fraud in the mortgage “securitization” business.

They wouldn’t be able to change the FASB (accounting) rules so that bankrupt banks could hold their assets at pre-crash prices. And if the only thing citizens can do is riot in the streets and still be ignored by their governments, then it’s safe to say that while politicians hold office they are unaccountable.

In this video I present an alternative to our “democracy”: No elections. No politicians. Instead, it’s a political system where citizen completely control the legislative process without needing to be actively involved in crafting the legislation. In other words, they can continue living their lives, but they have absolute control over the laws in their country: