Keynesian: Hurricane Sandy Good for Economy
Disasters can give the ailing construction sector a boost, and unleash smart reinvestment that actually improves stricken areas and the lives of those that survive intact. Ultimately, Americans, as they always seem to do, will emerge stronger in the wake of disaster and rebuild better-making a brighter future in the face of tragedy.
Keynesian: Hurricane Sandy Good for Economy Kurt Nimmo Infowars.com October 30, 2012 Did you know Hurricane Sandy is a good thing? That according to “macroeconomist” Peter Morici, who writes today: Disasters can give the ailing construction sector a boost, and unleash smart reinvestment that actually improves stricken areas and the lives of those that survive intact. Ultimately, Americans, as they always seem to do, will emerge stronger in the wake of disaster and rebuild better-making a brighter future in the face of tragedy. $35 to $45 billion in financial loss from the freak storm “will unleash at least $15-$20 billion in new direct private spending” for an economy “still struggling to overcome the Great Recession.” Keynesian economists invariably ignore, avoid or are incapable of understanding why we are in a “Great Recession” (actually turning out to be the Greatest Depression). Fiat money arrangements create asset bubbles which inflate and in turn deflate and cause recessions and depressions. “Moving toward honest money—and away from discretionary government fiat money—is essential for future prosperity and freedom. Postponing real reform will only delay the day of reckoning,” warns Jerry L. Jordan, a former President of the Federal Reserve Bank of Cleveland. Instead of honest money and free markets, we should instead wait around for the next hurricane. Maybe it will wash prosperity ashore and deliver us from the disaster banksters and Keynesians have created. Explosive traces ‘found on crashed Polish presidential jet’ dailymail.co.uk October 30, 2012 95 died along with President Lech Kaczynsk when plane crashed near Smolensk Investigators say traces may have come from unexploded WWII bombs in the area Polish investigators have found traces of explosives on the wreckage of a government jet that crashed in Russia two years ago, killing Poland's president and 95 others, Polish media claimed today. Poland's Rzeczpospolita newspaper said prosecutors and explosive experts who examined the remains of the plane in Russia found signs of TNT and nitroglycerin on the wings and in the cabin, including on 30 seats. Traces of explosives were also found in the area where the Tu-154 crashed during its approach to a small airport near the Russian city of Smolensk on April 10, 2010, the daily reported. Poland's military prosecutor's office plans to respond to the report later on Tuesday, its spokesman said. Russian investigators had blamed the Polish crew for trying to land in heavy fog, while their Polish counterparts also said the airport controllers should not have allowed the plane to attempt an approach. Some rightist groups in Poland, including main opposition party Law and Justice, had rejected the findings and suggested the crash could have been an assassination of President Lech Kaczynski and political and military leaders who flew with him. In their official reports, investigators said they found no proof of the involvement of third parties. The investigators have not ruled out the possibility that the traces of explosives come from unexploded bombs dating back to World War Two that could have remained in the area where the aircraft came down, the newspaper said. The crash has been a source of much controversy since, with prosecutor Mikolaj Przybyl shooting himself in the head over the case. He had been defending a military investigation into leaks to do with the crash, in which the prosecutor's office illegally attempted to obtain telephone records of journalists who reported on the crash. In January he was spekaing to reporters in Poznan when he told them to leave his office for five minutes. He attempted to kill himself but was saved by a man trying to sort out cables in the room. Przybl was treated in hospital for facial injuries and said: 'I could accept the fact that my car had been demolished, that my tyre had been loosened in an attempt to kill me, that my dog had been killed. 'I also knew a bounty of (zlotys)1million had been put on my head but I couldn't accept the fact that I had been accused of an illegal action. 'I wanted to commit suicide. I put the pistol barrel in my mouth but my hand shook because I saw the door handle move. 'A man who wanted to shift the cables saved me... the bullet hit my cheek and didn't go through my head.' In June a strange monument to remember the victims was created in Kalkow, southern Poland. It is a mock plane which has smiling images of the dead looking out of the windows, including the president and his wife. Bank of England director: Occupy was right upi.com October 30, 2012 The protesters who occupied Wall Street and parts of London and other cities were morally and intellectually right, a senior Bank of England official said. "Some have suggested ... that Occupy's voice has been loud but vague -- long on problems, short on solutions," Andrew Haldane, a member of the central bank's Financial Policy Committee, told an event called "Socially Useful Banking," organized by Occupy Economics, an offshoot of the Occupy movement, in London Monday night. "Others have argued that the fault lines in the global financial system, which chasmed during the crisis, are essentially unaltered -- that reform has failed," he said. "I wish to argue that both are wrong -- that Occupy's voice has been both loud and persuasive and that policymakers have listened and are acting in ways which will close those fault lines," said Haldane, the bank's executive director of financial stability. "In fact, I want to argue that we are in the early stages of a reformation of finance, a reformation which Occupy has helped stir," he said. "Occupy has been successful in its efforts to popularize the problems of the global financial system for one very simple reason -- they are right," said Haldane, 45. He added that protesters who camped out in New York, London and dozens of other cities "touched a moral nerve in pointing to growing inequities in the allocation of wealth." But the nerve the movement touched was in fact more than just moral, he said -- it was intellectual, borne out by facts. "For the hard-headed facts suggest that, at the heart of the global financial crisis, were -- and are -- problems of deep and rising inequality," he said. Haldane ended with a direct appeal to activists to continue putting pressure on governments and regulators. "You have put the arguments. You have helped win the debate. And policymakers, like me, will need your continuing support in delivering that radical change," he said. http://www.infowars.com/