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Tuesday, July 20, 2010

Why Fox Television cannot be trusted in regards to the economy.

Fox business television ran this dopey piece called "Is America addicted to unemployment benefits".

My internet research over the past two years has revealed to me that NOBODY, and I mean NOBODY, has identified interest rate charges on existing consumer debt as being the MAIN CAUSE OF ECONOMIC MALAISE IN THE WORLD, except for me.

Even the alleged maverick economic gadfly blog sites that come off as not being part of the establishment won't question the role of interest rate charges on existing debt as being the leading cause of the worldwide economic downturn.

I would ask this one question. If I was worth 10 billion dollars, and 9 billion was heavily invested, what rate of return would I get? I would imagine that a multi-billionaire would be promised at the very least a 10% return on their investments by the banking community, and there in lies the problem.

All the "rich money" that presently exists in the world can no longer be given the royal treatment when it comes to the rate of return the "rich money" generates.

Part of the reason for a depreciating return on huge investment capital is the internet. The internet has squeezed competition to the point where many businesses have reduced real products and customer service and instead are hoping to sell some type of monthly mass produced subscriber based goods or services, or a renewable software/hardware product that will please their investors and the companies bottom line, (Apple anyone?).

The problem is although internet efficiency can be created and is helpful up to a point, a threshold is reached in which the newly created efficiency results in the loss of jobs and people begin losing their own personal wealth. Enter 2010. People are losing their homes, jobs are being lost, and the worldwide situation is actually not getting better, and why is that? Because the banksters continue to squeeze interest rate charges on existing consumer debt at a time when employment opportunities and economic growth are being squeezed because of the internet.

Just look at the Fox video above. No mention of interest rate charges on existing debt as being the underpinning of our economic collapse, instead Fox just takes another opportunity to take a potshot at Barack Obama. Who runs Fox? Rupert Murdoch, the epitome of the kind of billionaire investor who is driving millions of people into economic collapse just so he can make sure the present financial investment system stays intact.

Oprah Winfrey is another example. So is Warren Buffet. Until these billionaire clowns see that they are cause, not the solution, of the world's economic struggles, times will continue to get worse.

Solutions abound. Offer a descending scale of interest rate dividends on savings accounts, also known as a inverse interest rate dividend. Savings of 1,000 dollars to 50,000 dollars would get the highest interest rate dividend, and then the interest rate dividend scale would slide downwards, not upwards, as the savings amount increased. Of course we would have to watch the billionaires who would simply put 50,000 dollars in each and every bank in the country!

Combine the inverse interest rate dividend concept with the cessation of all interest rate charges on EXISTING CONSUMER DEBT for anybody who agrees to pay down their debt, not add to it, and things will begin changing in a very short time.

These two acts alone would almost immediately begin redistributing wealth (not necessarily a bad thing when done correctly) among those who are either generating income or have assets with which to pay down existing debt.

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