Tag Archives: Grabfest

French Goodyear workers hold managers captive in Amiens

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“Workers at a Goodyear tyre factory in Northern France have been holding two managers captive in a dispute over plans to close the plant.  The director of production at the plant in Amiens, Michel Dheilly and human resources chief, Bernard Glaser have not been allowed to leave the plant.  Staff and management have been negotiating for years over how to deal with the loss-making plant.  The union is pushing for a redundancy plan with more generous payoffs.  Generally workers have not been prosecuted for holding their bosses captive.  According to the CGT union, the two managers have been given water and still have their mobile phones.”

http://www.bbc.co.uk/news/business-25631238

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IMF’s World Tax Is a Puzzling Ploy

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“It seems clear for some reason that the IMF wants to advance the case for a global tax, though why it would want to adopt such a controversial proposal at this time is unclear. Perhaps the proposal is simply in line with other tax policies now being implemented. The most prominent one comes from the US government, which intends to tax expatriated residents via their banking connections.  The rollout of this policy is taking place this year but is also receiving a lot of pushback.  It could be that the IMF tax proposal is a way to implement further globalist tax strategies that can operate in conjunction with US efforts. There is no evidence that such a tax will solve the problems it is supposed to address.”

http://www.thedailybell.com/news-analysis/34885/IMFs-World-Tax-Is-a-Puzzling-Ploy/

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29 Incredible Facts Which Prove Poverty In America Is Exploding

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“The gap between the wealthy and the poor is at a level that America has never seen before, and this is beginning to create a ‘Robin Hood mentality’ that could cause a tremendous amount of social chaos in the years ahead.  Anger at the ‘haves’ in America continues to rise at a very alarming pace, and the ‘have nots’ are becoming increasingly desperate.  At some point all of this anger is going to boil over, and you won’t want to be anywhere around major population centers when that happens.  Despite unprecedented borrowing by the federal government in recent years, and despite unprecedented money printing by the Federal Reserve, poverty in the United States keeps getting worse.”

http://theeconomiccollapseblog.com/archives/29-incredible-facts-which-prove-that-poverty-in-america-is-absolutely-exploding

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Bill Bonner: Papal Fallibility

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“Almost nobody approves of capitalism these days, least of all the SOB cronies on Wall Street who call themselves capitalists.  The big banks hate capitalism, too. What they like is crony capitalism. At least, they like it when their own cronies are in the Department of the Treasury and the Fed.  The rest of the heaving masses hate capitalism, too, but for other reasons. They are envious of those who have more than they have… and eager to redistribute other people’s money – to themselves, of course.  So, almost no matter in which direction the pope heaves his message – to the modest nests of the have-nots or the sumptuous pads of the haves – he is bound to hit a supporter.”

http://www.bonnerandpartners.com/papal-fallibility/

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Bill Bonner: Crony Connections…

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“What we all want is an economy that delivers our own version of ‘fairness,’ which almost always involves more for us and less for everybody else.  It’s an economy that is so finely controlled that what we do no longer determines what we get. We can step on all the rakes we want; never will the handle come up and hit us in the face.  Instead, everything is under control. We get outcomes that are the result neither of choice nor chance, but of crony connections and the master plan. In short, we all want to live in North Korea – until we actually see the place.”

http://www.bonnerandpartners.com/crony-connections/

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UN puts rich nations on the hook for trillions in climate liabilities

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“Starting in 2014, the U.N.’s Green Climate Fund, a plan to divert an additional $100 billion per year from the treasuries of developed countries to those of developing nations to help them ‘take action on climate change,’ will commence operation. The heads of the World Bank and the International Monetary Fund are scheduled to take part in a launch ceremony for the GCF headquarters in South Korea on Wednesday.  A new international treaty in 2015 will force developed countries to spend untold billions more to reduce carbon-dioxide emissions. The fine print in the negotiating text includes an escape clause for developing nations.”

http://wattsupwiththat.com/2013/12/04/harris-and-khandekar-blaming-the-developed-world-for-the-forces-of-nature/

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Romain Hatchuel: The Coming Global Wealth Tax

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“Households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash. The White House and New York Mayor-elect Bill de Blasio aren’t the only ones calling for higher taxes (especially on the wealthy), as voices from the International Monetary Fund to billionaire investor Bill Gross increasingly make the case too.  The context for this argument is the IMF’s expectation that in advanced economies the ratio of public debt to gross domestic product will reach a historic peak of 110% next year, 35 percentage points above its 2007 level.”

http://online.wsj.com/news/articles/SB10001424052702304355104579232480552517224

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David Galland: The Age of Entitlement

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“If you accept as truth that we now live in an Age of Entitlement—an era whose hallmarks are widespread yet ultimately unaffordable and, therefore, undeliverable promises, benefits, services, etc.—then it behooves us to fill another gourd of maté and imagine where it all leads.  Before we engage in that exercise, however, it may be worthwhile to review a few supportive data sets, tidily organized into easily grasped charts.  As it’s all but impossible to dial back the bulk of the entitlements—or, given the demographics involved, do much to retard their speedy growth—we can reasonably expect the quantitative easing to accelerate over time.”

http://www.caseyresearch.com/cdd/the-age-of-entitlement

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US fast-food workers strike over low wages in nationwide protests

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“As a large ‘Christmas Grinch’ ambled about in freezing temperatures, demonstrators chanted for the minimum wage to be increased to $15 per hour.  It was the first of nine strikes in Chicago, with employees at McDonalds, Wendy’s, Walgreens, Macy’s and Sears also due to walk off shift. Low wage workers were due to strike across 100 cities through the day, including Boston, Detroit, New York City, Oakland, Los Angeles and St Louis.  The president has suggested he would back a Senate measure to increase the minimum wage to $10.10. Obama had previously called for the wage to be increased in his State of the Union address in February.”

http://www.theguardian.com/world/2013/dec/05/fast-food-workers-strike-minimum-wage

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Bigger than Libor? Forex probe hangs over banks

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“A global investigation into the setting of the London interbank lending rate, and related global benchmarks, has so far yielded about $3.6 billion in fines. Penalties for some of the biggest players are still to come. Traders have also faced criminal charges.  As the extent of damage caused by Libor-rigging is revealed, lawyers say the probe into fixing currency rates could unfold in a similar way, and rival its impact.  London is the center of the loosely regulated foreign exchange market, the biggest in the world’s financial system with average daily turnover of $5.3 trillion. Proven abuse in this market would have a significant ripple effect, exposing offending firms to a host of legal action.”

http://money.cnn.com/2013/11/20/investing/forex-probe-lawyers/index.html

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