Posts filed under 'Economics'
Most people still don’t know what caused the financial crisis. They know it had something to do with subprime mortgages and Lehman Bros, but beyond that, it gets rather hazy. Unfortunately, Congress appears to be in the dark too, which is why their attempt to regulate the system is bound to fail and pave the way for another crisis in the next few years. [Financial crises occur on average every seven years. Eds.]
The real source of the the last crisis is a design-flaw in the architecture of the modern banking system. This sounds more complicated than it really is.
Continue Reading April 29th, 2010
To put a seal on Obama’s humiliation at the hands of right-wing Israeli politicians Bibi Netanyahu and Avigdor Lieberman, the Obama administration sidelined the Goldstone Report detailing war crimes during the Gaza war (“willful killings and willful causing great suffering” to the civilian population and “collective punishment intentionally inflicted by the government of Israel on the people of the Gaza Strip”), signed a multi-year, $30 billion defense protocol with the Israelis, and rebuked U.S. Middle East negotiator George Mitchell for saying quite accurately that the U.S. had once withheld U.S. loan guarantees as a way showing displeasure at settlement activity.
Continue Reading January 28th, 2010
Arab oil-producing nations and some of the world’s largest oil consumers including China and Japan are reliably reported to be planning a long-term exit from pricing their oil trade in US dollars. If true, it would spell the death knell for the dollar as the world’s reserve currency and for the United States as global economic power.
Ever since Washington tore up the Bretton Woods treaty in August 1971 and went onto a “dollar paper reserve system” instead of a dollar backed by gold, the United States, as the world’s most powerful military power, has been able to dictate financial terms to the world. Nations like Japan and later China, dependent on US export markets, would dutifully invest their trade surplus dollars into US government debt, in effect financing wars such as Iraq and Afghanistan, which they opposed. They saw no choice.
Continue Reading October 13th, 2009
At this point in time when Capitalist economic solutions have a virtual monopoly in the discussion of economics for both Muslims and kuffar, it is critical that a working alternative model is presented to the world. As the recent Credit Crunch has shaken the global Capitalist structure to its very foundations, people world-wide are questioning its practical stability and intellectual validity. As the bankruptcy of Capitalist thought is revealed, there is an urgent need to replace it with a practical alternative model that is based upon sound ideas and has a pedigree of success.
This book is a presentation of a practical alternative Islamic economic model, with Pakistan as a case study, on which to build a dynamic and innovative economy fit for the 21st Century. Addressing areas as diverse as agriculture to energy, this book is a blueprint for turning a resource rich yet poorly managed country like Pakistan from an economic dependent to a global power. This model draws upon the juristic works of Islamic scholars and applies their research in an unprecedented fashion, bringing together years of Islamic scholastic tradition with the needs of the modern world.
This book also highlights the political implication of basing an economy upon an Islamic model. It serves to highlight how political unification with the rest of the Islamic world can act as a catalyst for economic development and the establishment of a modern Islamic State with unparalleled power and influence.
Download book from here: http://www.khilafah.com/images/images/PDF/Books/PKEconomicQuest.pdf
August 27th, 2009
With $872.6 billion, the cost of the conflicts in Iraq and Afghanistan so far, the United States could fund…
…a year’s worth of health care for 117 million Americans ($7,439/person)
…one year of public elementary school for 116 million children ($7,500/child)…four years of public university
tuition for 35 million students ($6,185/student) …145 billion mosquito nets to help stop malaria in the developing world ($6/net)
…4.6 billion laptops to promote literacy in the developing world ($188/laptop)
If you had an expense account that let you spend $1 million dollars per day… …it would take 2,391 years to spend $872.6 billion, the cost of Iraq and Afghanistan so far.
The cost of Iraq and Afghanistan laid out end-to-end in $100 bills… …would extend 846,157.6 miles – or just short of 34 times around the Earth’s circumference.
The conflicts in Iraq and Afghanistan have cost each American family of four $11,458.
Source Center for Arms Control and Non-Proliferation - Total Iraq and Afghanistan Supplemental War Funding To Date Actual U.S State Dept. figures used as source. Current combined direct American spending on Iraq + Afghanistan is $11.33 billion per month. And they give Pakistan $1.5 billion annually to fight it’s war on the cheap !
July 27th, 2009
Experts in Islamic finance believe their way of doing business has shielded them from the global credit crisis.
“We don’t recognise the concept of interest… to look for some profit from trading money,” explains Dr Bambang Brodjonegoro from the Islamic Development Bank.
“In the Islamic concept, money is strictly for the purpose of exchange or storing value, but not for the transaction of looking for excessive profit,” he says.
Continue Reading May 12th, 2009
Vatican says Western banks should look at rules of Islamic finance to restore confidence amongst clients.
Continue Reading March 10th, 2009
The bottom line to all this is simple: The U.S. dollar is going to be intentionally exhausted into worthlessness. Anyone holding any assets denominated in “dollars” such as Checking accounts, Savings accounts, IRA’s, 401-K’s, Pensions, Stocks, Bonds, Money market funds, will wake up one day to find all their “dollars” are no longer “money.”
March 6th, 2009
Continue Reading November 20th, 2008
On October 28, RIA Novosti reported that Russian prime minister Vladimir Putin suggested to China that the two countries use their own currencies in their bilateral trade, thus avoiding the use of the dollar. China’s prime Minister Wen Jiabao replied that strengthening bilateral relations is strategic.
Continue Reading October 31st, 2008
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