De Broedplaats, de derde try-out podcast van Economy Transformers – Economy Transformers Podcasts

10-06-21 03:51:00,

Economy Transformers Podcasts

De Broedplaats, de derde try-out podcast van Economy Transformers

Jun 09, 2021 Season 1 Episode -5

Jac Hielema

In deze derde try-out vertelt Damaris over de Zes Sleutels van Transitie, een boeiend verhaal. Iedereen die streeft naar een mens- en Aarde-waardige samenleving kan met behulp van de Zes Sleutels zijn of haar initiatief congruent maken en zo co-creator worden van die nieuwe economie en samenleving. Hoe dat werkt? Dat hoor je dus in deze derde try-out. Echt, je hart gaat gloeien als je luistert naar dit verhaal dat tegelijkertijd helderheid schept en perspectief biedt.

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The Political Economy of Corruption in Korea: Corruption Kills People, Ruins the Economy, Violates Human Rights – Global Research

28-12-20 02:01:00,

The whole world is facing the deepening and widening corruption which challenges the very survival of the free democracy and the free market economy. 

Korea has been suffering for last 70 years from the corruption culture. But owing to courageous fight of Korean people and the Candle-Light Revolution of 2016-2017, Korea is freeing painfully but steadily from the dark clouds of the corruption culture.

I hope that Korea’s experience will help developing countries for assuring the development of their economy without becoming the slave of corruption.

The literature on corruption is rich but it has two shortcomings. First, it is based on a definition of corruption which is too narrow to deal with the complexity of corruption. Second, it does not cover sufficiently the range of the impact of corruption on the society.

Most of the existing studies tend to define corruption as illegal activities which are designed to maximize personal gains at the expense of those of others. But, it must be pointed out that some of the laws and regulations are designed to justify corruption.

Therefore, I would define corruption as “illegal or immoral human activities designed to maximize personal or group gains at the expense of the welfare of other persons or other groups”

The objective of this paper is to find, on the basis of Korea’s experience, appropriate measures that would facilitate the fight against corruption.

This paper has five sections.

Section 1 offers a typology of corruption based on the Korean experience of corruption. I have found that the useful way of classifying corruption is to relate it to the behaviour of individuals and organizations involved in corruption.

Section 2 deals with the evolution stage of corruption. I argue that the phenomenon of corruption evolves by stage. The level, the contents and the impact of corruption vary by stage. Therefore, to find appropriate measure of anti-corruption, it is important to know at what stage the process of corruption finds itself.

Section 3 discusses the strategy of protecting the benefits of corruption. It will be shown that, in Korea, the strategy of protecting the fruit of corruption is brutal and sophisticated.

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US economy was an ‘ENORMOUS BUBBLE’ before Covid-19 & pandemic is just the pin – Peter Schiff to Joe Rogan

16-07-20 02:02:00,

The only thing that spreads faster than coronavirus is ignorance about economics and finance, says veteran stock broker Peter Schiff. According to him, the pandemic just sped up the crash of the already deflating bubble.

In the latest episode of Joe Rogan’s podcast, Schiff, the CEO and chief global strategist at Euro Pacific Capital, talked about the current state of the US economy and its condition just before the outbreak.

“US President Donald Trump is claiming that we had a great economy that just got screwed up by the pandemic when we had to shut it down,” he said. “But we didn’t. We had an enormous bubble, and there is nothing great about it other than the size of the bubble.”

Schiff explained that “the reason it collapsed so quickly was because what happened was Covid-19 was a pin that pricked that bubble.”

In fact, the bubble was already deflating before the pandemic, the strategist said. “It started to deflate in the fourth quarter of 2019. That’s when the Federal Reserve hiked the interest rates and then started cutting them again, started doing quantitative easing again. And then Covid-19 came.”

Also on rt.com
‘This is the beginning of the greatest financial crisis in US history’: Peter Schiff makes dire predictions to Boom Bust

Schiff pointed out that when Federal Reserve Chairman Jerome Powell started hiking interest rates and shrinking the balance sheet, that was the right thing to do, though President Trump had criticized him.

“We need higher interest rates which, unfortunately, means the stock market will go down, but that’s just the reality. We are addicted to cheap money like a drug addict is addicted to heroin, but then the solution is more heroin to stay high.”

Trump wanted the stock market at record highs, “and we just put more air into the bubble,” Schiff said.

For more stories on economy & finance visit RT’s business section

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Post-COVID Economy May Have More Robots, Fewer Jobs and Intensified Surveillance

19-06-20 01:53:00,

Prisons & Policing

911 Services That Dispatch Mental Health Counselors, Not Cops, Gain Traction

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Economy & Labor

The Stock Market Is Recovering. We Are Not. Congress Is to Blame.

Prisons & Policing

The GOP’s Police Reforms Won’t Do It. We Need to Defund the Police.

Politics & Elections

It’s Trump vs. Bolton, and I’m Rooting for a Meteor

Economy & Labor

Post-COVID Economy May Have More Robots, Fewer Jobs and Intensified Surveillance

Despair and Disparity: The Uneven Burdens of COVID-19

Part of the Series

Despair and Disparity: The Uneven Burdens of COVID-19

Spurred on by the coronavirus pandemic, global capitalism is on the brink of a new round of worldwide restructuring based on a much greater digitalization of the entire global economy and society. This restructuring began in the wake of the 2008 Great Recession but the changing social and economic conditions brought about by the pandemic will vastly accelerate the process. It is likely to heighten the concentration of capital worldwide and worsen social inequality. Enabled by digital applications, the ruling groups — unless they are pushed to change course by mass pressure from below — will turn to ratcheting up the global police state to contain the coming social upheavals.

The emerging post-pandemic capitalist paradigm is based on a digitalization and application of so-called fourth industrial revolution technologies. This new wave of technological development is made possible by a more advanced information technology. Led by artificial intelligence (AI) and the collection, processing and analysis of immense amounts of data (“big data”), the emerging technologies include machine learning, automation and robotics, nano- and biotechnology, the Internet of Things (IoT), quantum and cloud computing, 3D printing, new forms of energy storage and autonomous vehicles, among others.

Computer and information technology (CIT), first introduced in the 1980s, provided the original basis for globalization. It allowed the emerging transnational capitalist class, or TCC, to coordinate and synchronize global production and therefore to put into place a globally integrated production and financial system into which every country has become incorporated. Just as the original introduction of CIT and the internet in the late 20th century profoundly transformed world capitalism,

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Here’s Why The US Economy Would Continue To Crash Even If All Lockdowns Were Lifted Immediately…

05-05-20 08:03:00,

Authored by Michael Snyder via TheMostImportantNews.com,

COVID-19 has created an enormous amount of fear, and that fear is doing far more damage to the economy than the actual virus is.  In an environment of fear, financial institutions become a lot tighter with their money, and that inevitably causes economic activity to slow down.  For example, just consider what happened in 2008.  Mortgage lending standards suddenly became much more strict, and that greatly contributed to the horrific housing price crash which left millions upon millions of Americans underwater on their mortgages.  Unfortunately, this coronavirus pandemic has created a wave of fear that is far greater than what we experienced during the last recession, and that has enormous implications for the months ahead.

Extremely loose lending standards helped create debt-fueled “booms” throughout our economy in recent years, but now lending standards are going in the complete opposite direction very rapidly.

For instance, Chase is now requiring a credit score of at least 700 for all new home loans, and they are one of the financial institutions that is now requiring a down payment of at least 20 percent

A Chase spokesperson confirmed that starting April 14, new mortgage applicants will need a minimum credit score of 700 and a down payment of 20%. Refinancing applications for non-Chase mortgages will also need the same score. Chase didn’t disclose its previous lending standards but the average downpayment for first-time home buyers is around 6%, according to a 2018 survey from the National Association of Realtors.

If you own your home, would you have been approved for a mortgage under the new Chase standards?

And Chase is far from alone.  In fact, most major mortgage lenders have now tightened up, and Redfin is estimating that about a quarter of all home buyers last year would not have qualified under the new standards.

So if you remove about a quarter of all buyers from the marketplace moving forward, what happens to the housing market?

Yes, there will be an implosion, and it will happen no matter whether coronavirus lockdowns are in effect or not.

And home equity loans are going to be hit even harder. 

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