Archive for January, 2009

If she was doing a good job…

the headline would have been a picture of a corpse..but alas…her sash doth match her shoes

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Neo-konservatizmi Amerikan

nga Joshua Muravchick
artikull i botuar ne The National Interest (Shtator 2008 )
Muravchik eshte studiues resident ne American Enterprise Institute


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I was wondering whether people had been drawing any parallels between Albania and the near-cardiac arrest of the world’s financial system. While I saw some references to Albania’s pyramid scheme debacle during the early days of the Madoff scandal, there were some references as early as Sept 2008 (made of course by the Italians)

Here’s what Italy’s Giulio Tremonti is saying.

“The finance minister of Italy’s conservative and pro-U.S. government warned of nothing less than a systemic breakdown. Giulio Tremonti excoriated the “voracious selfishness” of speculators and “stupid sluggishness” of regulators. And he singled out Alan Greenspan, the former chairman of the U.S. Federal Reserve, with startling scorn.

“Greenspan was considered a master,” Tremonti declared. “Now we must ask ourselves whether he is not, after [Osama] bin Laden, the man who hurt America the most … It is clear that what is happening is a disease. It is not the failure of a bank, but the failure of a system.”

In an interview Thursday in the Italian newspaper Corriere della Sera, Tremonti drew a comparison to corruption-ridden Albania in 1997, when a nationwide pyramid scheme cost hundreds of thousands of people their savings and ignited anarchic civil conflict. “The system is collapsing, exactly like the Albanian pyramids collapsed,” Tremonti said.


It’s worth mentioning that the Italians are giving quite a bit of press to fringe russian scientists like Igor Panarin, or fringe US politicians like Lyndon la Rouche. Both of them are predicting the demise of the US and the current economic order based on USD flows.

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