Conspiracy Book Inventory Liquidation Sale / Auction
FREE! Rare, Out-of-Print, Hard-to-Find Book Searches
Subscribers
Site--Access Back Issue of the A-albionic Quarterly Journal, the Project, and Much, Much More. . .
Message & Document Archive for the Discontinued New Paradigms Discussion Group [prj] Site
Follow A-albionic Via FaceBook Alerts -- Be "FaceBook" Friends w/Lloyd Miller, A-albionic Research Director
| Author | Comment | ||||
|---|---|---|---|---|---|
 LloydMiller |
What Caused the Economic Collapse! |
Lead | |||
|
Posts: 544 Sun, Jan 4, 2009 8:49 PM |
In my view, the proximate cause of the collapse was the stubborn, inexorable increase of interest rates
several years ago when Bernanke first took office. This steady increase in rates triggered adjustable mortgage rate increases, making them unpayable for many
homeowners, investors, and speculators.
Lloyd Miller, Research Director
|
||||
|
|
|||||
|
LloydMiller |
#1 | ||||
|
Posts: 544 Sun, Jan 4, 2009 8:58 PM |
LloydMiller wrote:Yes, I know, the "Austrian Economists" (followers of von Mises, Rothbard, et al) point to the prior credit expansion under Greenspan as the cause. However, that overlooks that the rate increases DID NOT reflect market forces, ie. increased demand for money or a decrease in the quantity of money. The interest rate increases were arbitrary and often "would not stick", ie. loans actually took place at lower rates than set by the FED. . . the market only reluctantly followed! But the rates were translated into higher mortgage rates due to the way adjustable rates are calculated. Did the FED purposely pull the rug out from under the Fannie Mae and Freddie Mac scams? Maybe. . . .? Because neither Congress nor the President were willing or able to end the scam? Did the FED realize the heart of capitalism, Wall Street's INVESTMENT BANKS, would hit the dust as a result? The Establishment economists seem to claim the FED "had" to raise rates because they were "too low". . so, low that the FED no longer had any room to "fine tune" the economy. . . makes no sense! A rate increase that must be completely reversed was IDIOTIC! Lloyd Miller, Research Director
Last Edited By: LloydMiller Sun, Jan 4, 2009 9:01 PM.
Edited 1 time.
|
||||
|
|
|||||
|
Ole Dude |
#2 | ||||
|
Posts: 205 Mon, Jan 5, 2009 10:52 AM |
LloydMiller wrote:In view of the fact that the Fed is owned by private banks including international investment banks, I would expand the question to a more open ended "What is going on"? Is this a signal (or transition strategy) that capitalism as we knew it is being displaced in the NWO? (this is DC from the old list.) |
||||
|
|
|||||
|
LloydMiller |
#3 | ||||
|
Posts: 544 Mon, Jan 5, 2009 10:41 PM |
Ole Dude wrote: Glad to see someone made it over to the new A-albionic system. Again, you are espousing the "Master" conspiracy, ie. that the Ruling Class / Conspiracy is essentially unitary. I am skeptical. I think there are powerful ruling class factions, but they are fighting for power and, as often as not, what happens is the unplanned consequence of conflict, conflicting plans and/or just plain fighting amongst the powerful. You will recall that in a prior post you asked what I meant by "Master Conspiracy". I mean any theory that considers the ruling class or conspiracy well enough organized and dominant enough to execute successful societal plans most of the time. I'd say most so-called "conspiracy theorists" have a "Master" or unitary theory. They might see Zionist Jews, "Insiders", International Bankers, "the CORPORATIONS", the Rockefellers, the Rothschilds, the British Royal Family, the Jesuits, the Catholic Church, etc. . . as the "Masters" or "High Cabal". They are all in the "Master Conspiracy" school of thought. Robert Welch, I believe, coined the term "Master Conspiracy" referring to his "Insider" or "Illuminati" conspiracy behind "Communism." Greenspan said he was surprised the premier Investment Banks, the heart of Capitalism would mismanage their portfolios in such an insane manner. Of course, he could be dissembling, but I don't think so. I don't think the old Ayn Rand buff is that dishonest. Lloyd Miller, Research Director
Last Edited By: LloydMiller Tue, Jan 6, 2009 9:03 PM.
Edited 2 times.
|
||||
|
|
|||||
|
Ole Dude |
Nigel Farage warns of euro meltdown | #4 | |||
|
Posts: 205 Tue, Jan 20, 2009 11:14 AM |
Jorg sent me this link from Germany this morning.
Nigel Farage warns of euro meltdown |
||||
|
|
|||||
|
return2reason |
#5 | ||||
|
Posts: 92 Tue, Jan 20, 2009 11:22 AM |
|
||||
|
|
|||||
|
LloydMiller |
#6 | ||||
|
Posts: 544 Tue, Jan 20, 2009 12:03 PM |
Ah! Interesting that you could post the U-Tube display, but not "play lists."
I deleted the whole "play list" discussion. However, I listened to the Michael Hoffman lectures on religion and altered mental states. Very interesting. He has certainly evolved since I first started dealing with him back around 1975. He used to be an extreme Bible Thumping "literalist". Perhaps we can keep the "other" message board set-up to link play lists. . . yeah, Hoffman isn't music. . Lloyd Miller, Research Director
Last Edited By: LloydMiller Sun, Nov 29, 2009 8:14 PM.
Edited 1 time.
|
||||
|
|
|||||
|
LloydMiller |
My Theory of the Economic Crisis | #7 | |||
|
Posts: 544 Sun, Feb 15, 2009 5:46 AM |
[Lloyd Comments] Strange that so few point to the obvious interest rate "error" of Bernanke that started the crisis. Does anyone ask if an interest rate that had to be completely reversed within a few months was an ERROR. . . ERROR! ERROR! Or accident on purpose to elect Obama AND/OR put an end to the mortgage insanity at Fannie Mae and Freddie Mack? Here is a post I made quite some time ago now. . . [Lloyd Commented] Lloyd Miller, Research Director
Bernanke Appointment: October 24, 2005
After the collapse of the Clinton Administration / Internet-High Tech
Bubble of the 1990's, interest rates settled-out at a very low rate compatible with the requirements of the new "Global Economy".
The Federal Reserve "Member Banks", accustomed to making easy
money via "rates", hated the new interest rate dispensation. Greenspan began restoring "profitable" interest rates in 2004 (what he
defined as "building balance sheets" during an earlier crisis). Bernanke incomprehensibly continued this policy far beyond whatever benefit
moderate increases might have had until he triggered drastic adjustable rate increases and brought the economy into crisis. As shown on the chart, Bernanke
VICIOUSLY ratcheted-up rates with NO END IN SIGHT and allowing no way for the economy to gradually adjust!
Bernanke should be asked to resign by the President and/or
Congress.
Lloyd Miller, Research Director, A-albionic
Research
Click -- A-albionic Book Inventory
Liquidation Sales
> > Bernanke Appointment: October 24, 2005 > > After the collapse of the Clinton Administration / Internet-High Tech Bubble of the 1990's, interest rates settled-out at a very low rate compatible with the requirements of the new "Global Economy". > > The Federal Reserve "Member Banks", accustomed to making easy money via "rates", hated the new interest rate dispensation. Greenspan began restoring "profitable" interest rates in 2004 (what he defined as "building balance sheets" during an earlier crisis). Bernanke incomprehensibly continued this policy far beyond whatever benefit moderate increases might have had until he triggered drastic adjustable rate increases and brought the economy into crisis. As shown on the chart, Bernanke VICIOUSLY ratcheted-up rates with NO END IN SIGHT and allowing no way for the economy to gradually adjust! > > Bernanke should be asked to resign by the President and/or Congress. > > > Lloyd Miller, Research Director, A-albionic Research > Click -- A-albionic Overview, WWW Sites, Discussion Lists > Click -- A-albionic Book Inventory Liquidation Sales > Lloyd Miller, Research Director
Last Edited By: LloydMiller Sun, Nov 29, 2009 7:37 PM.
Edited 14 times.
|
||||
|
|
|||||
|
LloydMiller |
#8 | ||||
|
Posts: 544 Sun, Nov 29, 2009 7:41 PM |
Lloyd Miller, Research Director
|
||||
|
|
|||||
