In the first half, analyst of geopolitics and foreign policy, Craig Hulet, commented on America's economic woes, as well as the turmoil in Ukraine and Israel, and other hotspots. The US has really become a corporate oligarchy, he suggested, a nation state that refers to its "sovereign debt." "Look what Obama has done, and what George Bush Jr. did before him-- setting the stage for this corporate coup d'etat...and the complete destruction of the Bill of Rights of the US Constitution," he exclaimed.
The corporate world is in favor of bringing a large number of immigrants to America, who will do the low-paying jobs, while high paying jobs once done in the US, are being exported to other countries, he explained. He advised that people get out of debt, so they won't be as vulnerable when the banking system collapses. Regarding Israel, Hulet referred to the book Goliath by Max Blumenthal, and said that what is going on there between the Israelis and Palestinians is comparable to the former Apartheid situation in South Africa.
In the latter half, author and ex-banker John Truman Wolfe, the editor/publisher of The Hard Truth magazine, discussed the state of the US and world economies, and why he believes that the situation is more fragile than in 2007. The purpose of the last economic crisis was to take down the US dollar as a world currency and replace it with a global monetary authority-- a kind of "financial dictator," he said. They did that in 2009 when the Financial Stability Board was created, he continued. Since then, the economy has grown increasingly unstable, and interest on the US federal debt is running a staggering $49,000 a second, Wolfe reported.
The reason the Dow Jones is at an all time high is that central banks are buying stocks; they've made some $29 trillion in purchases in order to drive up the market, he explained. Wolfe foresees another economic crash coming within two years, with the stock market possibly losing half its value. As far as where to keep your money, he noted that credit unions are generally safer than banks, and "not pregnant with derivatives"-- the trillions of dollars of interest rate swaps found at other banks.
Bumper music from Thursday July 24, 2014
Midnight Express (The Chase)
Frankie Valli & Four Seasons
Stand Or Fall
Won't Get Fooled Again
Under the Milky Way
Only the Lonely
Shouldn't Be Ashamed
Ozark Mountain Daredevils
When You Come Back to Me