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Ascending Topic in The Credit Debacle Catalog

ascendant power (1); Ascending Triangle (1).

RollingStone.com: Matt Taibbi | Taibblog Sat 2010-08-07 21:06 EDT

Are We In a Recession or Not? [Summers versus Romer]

Matt Taibbi

...Obama's economic team...has seen two fairly major resignations...[Council of Economic Advisers chairwoman Christina Romer] and budget director Pete Orszag...neither of them got along with Larry Summers...Most of the DC chatter class seems to have interpreted the dual resignations as a sign of the ascendant power of the Summers-Geithner axis within the Obama White House...Romer was the Obama administration official who was loudest in her advocacy of a much bigger stimulus, with the idea that the administration's economic strategy should have been based around creating jobs and shaving unemployment as quickly as possible...she was really the only person close to Obama's economic inner circle who isn't a former Clintonite or Rubinite and isn't either a former Wall Street banker or, like Geithner, a public-sector tool of Wall Street...Not that Christina Romer was a savior...but she was at least not completely a Wall Street pod job -- she was pretty much the last inner-circle adviser who wasn't, and now she's gone...

com; Matt Taibbi; Recession; rollingstone; Summers versus Romer; Taibblog.

Jesse's Café Américain Wed 2009-12-02 18:58 EST

The 38 Year Cycle in US Monetary History

Jesse

..the longer cycle of 38 years and some others, is that they involve what people call 'generational memory.' People as a group essentially forget the lessons of the past, and human nature being what it is, events based on bad judgement and reckless behaviour seem to recur at these intervals. If there was any 'tell' for the current crisis, it was the general overturning of the safeguards for the financial system that had been put in place in the aftermath of the financial panic of 1929 and the Great Depression that followed, culminating in the eventual overturn of Glass-Steagall and the ascendancy of extreme leverage using exotic, unregulated instruments. This is why we call this a generational change. This is no slump, no recession. And it is far from over. We are experiencing some major changes that are easily lost when one only looks at the day to day moves, listens to the description of events on the mainstream media, and of course, have a lack of memory, a knowledge of history, of things that have happened to their grandfathers and great grandfathers. The arrogant ignorance of so many still in place is a sure sign of greater chastisement to come, until the lessons of history are learned again, and the system is brought back into a sustainable balance.

38 Year Cycle; Jesse's Café Américain; monetary History.

Jesse's Café Américain Thu 2009-10-08 16:28 EDT

Gold: Until the System Is Reformed and Trust Is Restored

Jesse

Gold has obviously broken out of a big inverse Head and Shoulder formation, possibly an ascending triangle if you prefer that for reliability. In combination, as they often are, this is a powerful sign of buying pressure, accumulation and a sharp rise in price...despite the obvious efforts of the monied interests to disparage it publicly while accumulating it privately, is rising because the US dollar is being used badly, is being weakened by the failing schemes of a corrupt combination of the government and financial interests...gold is telling us...the era of the US Dollar as the world's reserve currency is over...

gold; Jesse's Café Américain; reform; restore; Systems; trust.

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