Usury= Unjust Enrichment for bankers and let Federal Reserve print fake money full speed ahead. Thats their Bailout to solve falling fiat monetary system economy.

Wonderful article! It is interesting to see where it differs from the Toronto Sun edition.

I do hope by tax cuts Eric means sales tax. Because income tax cuts alone are simply another Republican cry to enrich their wealthy patrons. Income tax cuts do nothing to stimulate the economy. Just look at Bush's massive tax cuts, which resulted in increasing debt to cover the cuts, which led to this crisis. They had absolutely no positive effect on the US economy. Or go back to the 1980s and Ronald Reagan's fib about taxes. His tax cuts were combined with increased payroll taxes - paid by the middle and working classes. The kind of rip off Ayn Rand would be proud of. And Reagan's legacy: deficits don't matter. Thank you Reagonomics for setting the stage for this crisis.

You want tax cuts to stimulate the economy then that's great. Let's begin by Obama providing the states with the funds to abolish their sales taxes. In Canada we can get rid of the GST. That is how you encourage people to spend money. Cutting income tax - without cutting government spending - only creates debt which replaces real income and creates bubble economies - like the one we've just seen crash.

Flatly decrying government spending on infrastructure projects while advancing tax relief as the only effective solution oversimplifies the problems. The government can play a useful role in developing common resources that promote private sector productivity. In so doing, the government can also put people to work. Indeed, mass transit investments are widely recognized as among the best kinds of infrastructure investment; it generates jobs, is politically popular among important urban electorates, and generates continuing and lasting benefits. While government spending is rarely the model of efficient spending, I think that cultivation of the public good through such spending can be as beneficial as tax relief.

Paul W, I like your thoughts on eliminating sales taxes. As for income taxes, I also agree that enough is enough.

Great perspective as usual Mr. Margolis.

One thing that frustrates me is that everyone is espousing the merits of Keynesian economic theory on deficit spending in times of recession but negates to properly address what Dr. Keynes thought government action should be in times of a boom. Mr. Margolis is the only journalist that has done this

As for the Conservative Government’s attempt to stimulate the economy through deficit financing. This will invariable fail until the US economy recovers. The focus should not be on bail outs and grants but on things like eliminative the Federal Sales Tax for at least a year or for good as others have mentioned. If the government is keen on helping the auto industry, offer a tax write off on car loans. How about a Green twist as well, offer owners of older cars a voucher for a new car purchase in order to get those old polluters off of the road. This in my opinion is the right sort of stimulus.

I also believe that this economic storm may result in a war as it has done in the past. However we live in 2009 and not 1941. The fall out of the effects of a war may have dire consequences for us in the West. I truly hope the money changers take this into account.

"I believe that banking institutions are more dangerous to our liberties than standing armies." ---Thomas Jefferson
"The Secrets of the Federal Reserve" by Eustace Mullins
http://www.apfn.org/apfn/reserve.htm

The Economic Rape of America
http://www.buildfreedom.com/tl/rape3.shtml

For me, a poster held up by a protester during the recent meeting of the minds at Davos said it all: 'You ARE the crisis'

The system is so broke its beyond fixing, The great champion of capitalism Adam Smith himself warned of the potential danger of too much wealth being controlled by too few. In the US, 90% of the country's wealth is now in the hands of just 1% of the people. Corrupt leaders have allowed their backers to get richer at the expense of us all, so don't hold your breath if you think these people are going to change anything, remember this is only a crisis for us not for the beneficiaries who are now more powerful than ever.

When the smoke all clears, it's a matter of sitting down and regulating the financial industry. They'll sqeal like stuck ones... but with the havoc they can create, there has to be some serious regulation.

Forgot to add... that the apparent reason the US won the cold war is that they bankrupted the USSR... I wonder who's chuckling or turning in their grave, now.

Dik

Fiscal stimulus is not particularly effective. Monetary stimulus should be counted on to do the heavy lifting.

Within the world of fiscal stimulus, deficit-financing increased expenditures is probably a smarter way to than cutting taxes.

Deflation is a real danger. Massive government borrowing will counteract that danger.

Economics is more religion than science, but in this case there is at least some empiry. If there is a recession, you get more out of public spending than tax cuts.
Much of the tax cut money just end up in bank accounts or the drawers and is of no good whatever for the ailing economy. Others is spent on import, which is good for the Chinese - but that's the business of the Chiese government, not the American.
If you spend money on public expenditures on the othr side, most of the moeny goes to employing laid-off workers - who then spend the money exactly as Eric wishes. Meanwhile, some infrastructure is built or kept up.
People have known this since the old Egyptians. The Egyptians built pyramids, the greek built temples - to the benefit of the tourist industry of these countries. The Americans, alas, build motorways, to the benefit of nothing else than urban sprawl - but there are some interesting suggestions at hand. For example, high speed trains, a venture Europeans, Japanese and Chinese have been in for decades. Another use for the money is te revive the public school system which belongs to the worst in the world.

republicans/conservatives/evangelicals/rich pricks should be wiped off the face of the map - the only solution to all of this mess is to wipe out the mess makers - republican mental cases - whats really needed is a french style revolution and time to gather up these republican mental cases and have another Bastile - in the public square for all to watch and purge these toxic creatures like a giant societal enema - I love the insanity of the logic republicans (margolis) use lets continue to insist on cutting taxes - the very thing that created the mess in the first place - isn't a definition of insanity is doing the same action looking for a different result. Mr. Margolis has no business speaking of this problem he's on the side that benefited and created this catastrophe.

Like I'd said to my wife when we recently went dining on our anniversary: A relatively expensive restaurant was almost full. I said, either alot of people have their anniversary on the same day we do, or people just love to spend money even when they don't have it! So much for a Recession.

Lots of businesses are built on debt, do their business based on it and survive because of it. Who then in their right mind would buy out companies for 10X their annual revenue in a fiercly competitive market.

I'll admit, I'm jealous of rich people who are only rich because they have a 1 Million line of credit that they can spend from and pay back over their life time and possibly never.

Obama brought us what we'd expected (so much for hope), a big spending spree, print money and shove it up China's a$%. We'll dictate our interest rates and dollar value, and if they don't like it, let them try envading us.

Though I'm not sure about Tax cuts, and I believe Mr. Margolis was referring to Corporate Tax Cuts as these are the ones mostly praised in the economic sense. But what is the use of corporations that are taxed only 15% if they don't hire local talent. Corporations look for profits, and if the hourly wage here in the US is much more expensive than in Mexico, then why not setup plants in Mexico?

The reason why "Average Joe" is more expensive, because he needs to pay his debt, live the same style that other debtors are living. It is a whole system of giving people money and hook them on it for their life time.

p.s. It is not only the banks responsible for sub-prime morgtage. In fact, the Clinton administration had much more to do with starting this mess as much as the Bush administration had in getting it out of control. The purpose was noble, get poor people their own home, but life is never fair and that is why there are poor people, middle class and rich people. You can never have anything less than these 3 classes:

http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&pagewanted=all

Written in 1999

Dear Mr Eric,

I would like to know is it possible that the Obama government can legally prosecute the former Bush administration for the economic fiasco and thus force the ex players to be accountable for the current global crisis?

I am writing primarily to get your feed back on the International tribunal for the Rafiq Harriri Assassination case. What do you think the outcome of the Hague court will be and will there be a new revelation regarding the perpetrators and will there be a solid evidence that will unfold in the few months ahead? Keeping in mind that according to recent news: The French authority now declares that a key witness Zuheir as-Siddiq was missing a month ago . why was the French authority not able to declare its responsibility for his protection. If the Zuheir as-Siddiq is implicated in Hariri's assassination why did the UN not ask for his protection. The truth remains to be seen.

Allow me to share with you my own experience regarding what I have seen the night before the devastating assassination of Prime Minister Hariri. The letter has been sent on Oct., 23, 2007 to Mr. Ken Corlett, Investigator United Nations International Independent Investigation Commission (UNIIIC) He assured me that this information will be investigated and yet I could not bring myself to contact him directly as he suggested because I do not want to be implicated in this international court ordeal. Anyways I am presenting the event as it unfolded and to the best of my knowledge:

The night before the Assassination of Prime Minister Rafik Hariri I went for a walk at the Corniche which is also a walking distance from my residence.
The initial walking took place from the sea front along the Saint George Marina all the way to the Hamem Askari which is not too far from the newly constructed Lighthouse. It was 8 or 8:30 pm; I am sure it was not too dark when I decided to walk from the Saint George Yacht Club a busy time for night walkers when I saw a man walking side ways on the Corniche at a slow pace at approximately the same location where a commemorating poster (poem) for Basel Fleyhan now stands. So the overall walk took about 45 minutes. Just few meters before I reached the old battered Saint George building I came across a construction building site. I had to walk off the pedestrian pavement when two men advised me not to walk over there due to construction area, which was marked off limit. In fact the two men tried to prohibit me from walking and one man tried to grab my arm and asked him to let go when I insisted to go on my way he told the other guy " fine let him walk wherever he pleases it is his life at risk." I could not understand what was going on at the time. All I know is that there was an underground construction few meters away from the murder scene.
so I kept walking on the street asphalt. Reaching the west side marina of the Saint George, I saw a docking yacht which instantly caught my attention due to the fact that it was fully lit up with small light bulbs. The yacht's slender body is big in size the bottom section was made of dark Mahogany wood and the upper section was white in color. The top deck was full of radars and satellite electronic devices, some looked like Television broadcasting and receivers equipment which were over 30 or more in number and of various sizes. I stood there for about a minute or so and noticed that there was one guard sitting sideways in a booth facing the yacht. As soon as the guard noticed me I resumed walking passed the Saint George.
At a distance I noticed a man who was looking my direction and realized he was the same guy I have seen at the very beginning. I was walking in his direction and he continue to stare. His eyes looked passed me at the direction where I was standing watching the Yacth. Now I was few centimeters away from him, face to face we looked at each other. He kept looking at me and he did not move. He was in his mid Fourties with short hair, hazel eyes, his complexion was European. My guess is he is either German, French or American he had a round head. His facial features had a close resemblance of former Detlev Mehlis especially the hair the color of his skin and the shape of his eyes. Somehow I noticed his hands were hidden in his pockets. He was wearing a Jillet brown or dark in color with brown pants and light Brown English made leather shoes with shoe laces.

I had to ask him twice: excuse me, excuse me can you move away I want to pass. I was a bit agitated looking at his rigid stoic face. Finally he let me go on my way and I never looked back. It was strange and I did not understand what was the matter, something was not right.

From my previous posting George Bush the Monkey Moron in Chief has been a disaster
of un-calculable proportions-that will have consequences for all of us-His own country is suffering, plus more importantly he was able to mobilize "the hate-mongers" and their powerful supporters in military against the iraq and afghanistan-so much so that now thanks to him Russia the old enemy of the Afghan people is using excuses of all kinds to Gain a Position in Afghanistan-So he has undone years of work against "Tyranny". George Bush fits much more an image of Blood Thirsty Czar/Fascist rather than a Freedom loving Democrat- He should be "tortured" till he realizes the consequences of his Foolish actions and the untold suffering and deaths he brought
to the millions, and this is coming from me who is totally against torture-

What is Kremlin Upto:
To provide yet more evidence, that Kremlin is upto no good. News that
A Senior Russian Military Official:-says: Nukes may come in handy:
This yet another legacy of GW Moronic Bush-he set idiotic precedents, like
Pre-emptive strikes etc. With Human Conscience at all time low, this is a recipe for
Disaster. This will allow, as this statement shows, every crackpot Fascist, to implement his/her plan when in Power. Moreover, assuming hopefully that No Nuclear Weapons are used, this will at least give, as it has in past too much for
Fascists like Bush, and Co. [every place has many of these idiots] Great say in our
Affairs.

Russia: Nukes may come in handy
Mon, 09 Feb 2009 21:28:21 GMT


A senior Russian military official has said that nuclear warfare could be the only appropriate response against likely 'new threats'.

"New threats may emerge that could only be averted with the threat of nuclear weapons," said the head of the Russian General Staff on Monday, Russian information agency RBC reported.

The official, Nikolai Makarov added that possible materialization of the threats necessitate that Russia keep open the option of upgrading its nuclear firepower.

He made the remarks commenting on the country's plans to renovate its armed forces which are expected to yield a 'more compact, more mobile and better equipped' military.

The reforms were ordered by the Russian Commander-in-Chief Dmitry Medvedev last year in view of the August confrontation with Georgia.

The enhancement was continuously brought forward as the United States would not revise its missile plans in eastern Europe.

"We are planning to complete a reform of the military within the next three or four years. The established time frame has not been revised," Makarov concluded.

HN/MMA

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Not much is known about how women get BV. There are many unanswered questions about the role that harmful bacteria play in causing BV. Any woman can get BV. However, some activities or behaviors can upset the normal balance of bacteria in the vagina and put women at increased risk including:

Eric
I just signed up and look forward to reading your material.
I hope that someone in the white house briefs the president on your writings.
Telling the Americans the truth for a change would be part of the solution to the economic crisis.
GB from canada

Mr. Margolis, Do you need a cat sitter for your home in Paris? (I'll buy the cat). References available.