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The Forum > Article Comments > Recession? What recession? THIS recession! > Comments

Recession? What recession? THIS recession! : Comments

By Geoff Carmody, published 17/12/2012

Taking all statistical adjustments into account Australians went backwards last year.

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Geoff Carmody is not addressing the reality.Our economic system is a total farce.

Private banks own our productivity by creating from nothing the money to equal it and then have the audacity express it as debt.Worse still is the fact that the inflationary money they create,also gets expressed as debt.This inflationary money depreciates the value of our currency thus our labour imput.This is double theft.

Note that because of this reality,the harder we work,the more debt we incur.This is why the West can only ever have 3% growth and additional 3% inflation so our economies are not starved of cash.China has many Govt banks and produces 80% of it's money either debt free or as a tax credit for its people.China can grow at 4 times the rate of the West.

http://www.secretofoz.com/ This is the story behind 'The Wonderful Wizard of Oz.' It had a hidden economic meaning that most have missed.I the book Dorothy had silver slippers and the not the Ruby ones of worn by Judy Garland in the movie.

In 1873 the elites of England and the USA removed all the silver money from their economies and replaced it with their Gold.Since they had most of the gold,they assumed most of the wealth.The people were then enslaved on the Yellow Brick Road of gold of enslavement.

In the Depression of the 1890's ,80% of the money was removed from their economies.It was worse than the 1930's depression.

The Cowardly Lion represented William Jennings Brian who L Frank Baum accompanied in his persuit to become President of the USA and defeat the gold bugs.

There is much more symbolism in his story.You can download it for free off youtube.Bill Still its creator and producer took the chance and made it at no cost to us.
Posted by Arjay, Monday, 17 December 2012 7:34:39 PM
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Arjay, you do your credibility no favours.

>>This is the story behind 'The Wonderful Wizard of Oz.' It had a hidden economic meaning that most have missed.I the book Dorothy had silver slippers and the not the Ruby ones of worn by Judy Garland in the movie.<<

Yeah, right.

As supremely convincing as those Christian evangelists back in the eighties, who claimed that when played in reverse the lyrics of Queen's “another one bites the dust” become "It’s fun to smoke marijuana".

And your analysis of China's exemplary banking system doesn't bear too much examination either.

>>China has many Govt banks and produces 80% of it's money either debt free or as a tax credit for its people.<<

Here's one recent commentary.

"In 2008, the central government issued a $586 billion stimulus program to help China weather the global financial crisis, and local governments were suddenly awash in easy credit. They splurged on subways, airports, luxury condominiums, and five-star hotels -- anything that would boost short-term GDP growth. According to China's National Audit Office, local governments had amassed about $1.7 trillion of debt by the end of 2010, about 27 percent of the country's GDP -- but other estimates put the number at almost twice that. Tianjin took out more loans than any other Chinese city in 2009, increasing its outstanding debts by 47.2 percent, far above the national average."

http://www.foreignpolicy.com/articles/2012/08/03/china_s_debt_bomb

Admittedly, it was written by someone who doesn't subscribe to your Wizard of Oz theory of economic management. Nonetheless, it is quite interesting to see some facts now and again, don't you think?
Posted by Pericles, Tuesday, 18 December 2012 10:08:09 AM
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