America in 24 month's time?

[Mega]

The documentary divided into twelve parts tells the story of how debt combined with political corruption impoverished a nation that was once so rich that the expression "Wealthy as an Argentine" was once in common use throughout the world.

When the USA took on trillions in debt starting in the early 1980s, did we enter a Dante's hell as Argentina did when it took on its debt under a military dictatorship in the 1970s? Is it only a matter of time before US debts lead inexorably to currency crisis, inflation, and political chaos? The story will strike North Americans as uncomfortably familiar.


Part I
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Part II
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Part III
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Part IV
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Part V
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Part VI
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Part VII
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Part VIII
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Part IX
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Part X
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Part XI
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Part XII
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http://itulip.com/images/argentinaGDPinflation.gif

http://itulip.com/images/argentinaGDPinflation2.gif

See also: Argentina and the U.S. - Troubling similarities (http://itulip.com/forums/showthread.php?p=38547#post38547)

iTulip Select (http://www.itulip.com/forums/showthread.php?t=1032): The Investment Thesis for the Next Cycle™
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[metalman]

http://pixdaus.com/pics/1216260723wPJ64CZ.jpg

[Lukester]

Possibly one of Metalman's most succinct comments. Keeping it "short and sweet". (Complex socio-economic commentary condensed into rudimentary sign language?)

[touchring]

3000% is peanuts, anyone read the report on Mugabe's Zimbabwe? 12,000,000% inflation this year! :D

[oddlots]

Great doc - thanks. Was anyone else bothered by the fact that the doc doesn't look into the mess that preceded the Neo-liberal, market fundamentalist solution. Don't get me wrong, the doc does a great job of fleshing out how asset-stripping masquerading as economic "tough-love" works (greed certainly is a good engine of "reform".) I just wish there there was a clear idea of what the problems were preceding this criminal period. Wasn't there massive inflation? What is the solution to that? Or put another way, what would Michael Husdon have reccommended?

[Yusef Asabiyah]

"I just wish there there was a clear idea of what the problems were preceding this criminal period."

I think enough of a clear idea was given--there was dictatorship, and after the overthrow of the dictatorship, the debt incurred by the the dictatorship, though proven by courts to be illegal, was left to stand, was treated as legitimate and was required to be repaid.

What's fascinating and horrifying is the assertion that the rape and pillage AFTER the dictatorship was much, much worse...which is a hideous violation of my "worldview" wherein democracy is always an improvement over dictatorship.

Of course, would the people, acting democratically, ever decide to take over the bad debts of the banks in order to save the banks? (If not, what does the word democracy mean in these situations?) As "the people" "did" in Argentina and now here in the US? This particular part of the saga sent a chill up my spine...

[Jay]

Great doc - thanks. Was anyone else bothered by the fact that the doc doesn't look into the mess that preceded the Neo-liberal, market fundamentalist solution. Don't get me wrong, the doc does a great job of fleshing out how asset-stripping masquerading as economic "tough-love" works (greed certainly is a good engine of "reform".) I just wish there there was a clear idea of what the problems were preceding this criminal period. Wasn't there massive inflation? What is the solution to that? Or put another way, what would Michael Husdon have reccommended?
My guess is a debt holiday would be his recommendation and still is.

Great video. Thanks Mega.

[babbittd]

I watched this for the first time last night. It's ******* crazy how they got away with selling the state industries for pennies on the dollar.

**********

It looks like we are seeing the model applied here domestically.

AIG and Citi deals gave Treasury least value (http://www.reuters.com/article/ousiv/idUSTRE5140SN20090206)

The Congressional Oversight Panel report said the Treasury overpaid financial institutions by about $78 billion in its capital injections last year through the Troubled Asset Relief Program.

It paid $254 billion in 2008 in return for stocks and warrants worth $176 billion under the Troubled Asset Relief Program.

This conclusion was first disclosed on Thursday by the panel's chairwoman, Elizabeth Warren, in Senate testimony.

[Jay]

I watched this for the first time last night. It's ******* crazy how they got away with selling the state industries for pennies on the dollar.

**********

It looks like we are seeing the model applied here domestically.

AIG and Citi deals gave Treasury least value (http://www.reuters.com/article/ousiv/idUSTRE5140SN20090206)

The Congressional Oversight Panel report said the Treasury overpaid financial institutions by about $78 billion in its capital injections last year through the Troubled Asset Relief Program.

It paid $254 billion in 2008 in return for stocks and warrants worth $176 billion under the Troubled Asset Relief Program.

This conclusion was first disclosed on Thursday by the panel's chairwoman, Elizabeth Warren, in Senate testimony.
It has happened over and over. It is part of neoliberal/neocon economic policy. Look at Russia and Eastern Europe.

[babbittd]

It has happened over and over. It is part of neoliberal/neocon economic policy. Look at Russia and Eastern Europe.

And here we are with Larry 'the architect' Summers in Obama's right ear.

[LargoWinch]

I've been watching these clips for a while now.

I cannot help but think: In the US, most people have a Glock 23 (actually JT keeps a Glock 30 .45 ACP, but he "is" special) under their bed instead of a frying pan. What would be the outcome?

I don't think cops would be pushing grandmas for long with a horse.

Just a feeling. (not a suggestion by any means)

[BadJuju]

I keep a rifle under my bed. Going to add a pistol to it soon. :p