The Angel Clark Show With Ken Schortgen Of The Daily Economist Talking About The “Fiscal Cliff” – Episode 337 – 11/30/12

Posted on Posted in Podcast, The Angel Clark Show

Segment #1 ‘Gangnam Style’ Christmas [VIDEO]Move over, Clark Griswold, you’re so … 1989. This year, all the cool kids are decking out their houses “Gangnam Style.”

My sympathies if the owners of any of these homes are your neighbors.

Also, if you’ve been living under a rock for the past few months and are unacquainted with Korean singer-songwriter PSY’s magnum opus, check it out here.

Segment #2 Internal polling reveals why Romney believed he would win

Internal polling showing leads over Barack Obama in New Hampshire and Colorado helped instill confidence in the Mitt Romney campaign on Election Day, according to final polling data revealed by Noam Scheiber of the New Republic.

It had previously been revealed that the campaign believed its candidate would carry North Carolina, Florida and Virginia. But data from polling conducted the weekend before Election Day reveals that the campaign also expected clear wins in New Hampshire and Colorado, both of which Romney lost.

Polling for Iowa showed a tied race, but Romney lost by nearly 6 percentage points.

Segment 3# Internet down across Syria for second day Phone and internet networks were down across most of Syria for a second straight day on Friday, according to the Syrian Observatory for Human Rights.

Rami Abdel Rahman, Observatory director, said in some areas it was still possible to access the internet “but with great difficulty”.
“It is also very difficult to reach people by phone. But we have received reports that it is possible to communicate between certain regions via fixed telephone lines,” he added.
The official news agency SANA had still not resumed transmission Friday after its feed was cut on Thursday at midday. Its website was also inaccessible.
On Thursday afternoon, when communications were first cut in Syria, activists accused the regime of preparing a “massacre” while the authorities explained this interruption as “maintenance”.
The United States on Thursday accused the Syrian regime of cutting off internet and telecommunications links in the war-torn country, branding the move a sign of desperation.
Amnesty International said on Twitter that reports of an internet shutdown were “very disturbing”.
Meanwhile delegates from more than 60 countries agreed in Tokyo to ramp up pressure on Bashar al-Assad’s regime and urged the international community to unite to force change in Syria.
The “Friends of Syria” condemned the “incessant killings, bombings of residential areas” and the “gross violation of human rights” that have taken place since Assad’s forces moved to crush an uprising.
At a meeting in the Japanese capital, the group’s fifth since its inception, they called for a full oil embargo on Syria, a move aimed at cutting off a rich source of currency for the regime.

Segment #4

Segment #5 Ken Schortgen talking about China along with other BRIC nations prepare to form bank to replace the IMF Back in September, China made the first of many new moves to provide the global economy an alternative to the petro-dollar when they began to sell and purchase oil in currencies other than the U.S. dollar. This move, allowing nations to bypass the SWIFT central banking and currency system, was the first real blow to dollar hegemony, and a first move towards establishing a new global reserve currency.

On Nov. 27, China, along with other BRIC nations, injected their next move against the reserve currency when they formed a new development bank comprised of $240 billion in newly pooled funds. This bank, which will allow for loans to be made in foreign reserves, and for purposes such as sovereign bailouts, is a direct threat to the decades old IMF, and another step in changing global domination by the West of the international banking system.

Segment #6 Ken Schortgen Talking About The “Fiscal Cliff”

Segment #7 President Obama and Congress discuss tax measure that would kill housing recovery With the lack of fortutude by both Congress and the President to address their fiscal households over the past four years, the standard paradigm of wait until the last minute and legislate some draconian budget that will accomplish little, and hurt the majority of Americans, is staring them in the face. With the proverbial ‘fiscal cliff’ just one month away from dropoff, the low IQ men and women who represent 310 Americans are putting tax cut issues on the table that would devastate not only the housing recovery, but nearly every homeowner in the country.

On Nov. 29, Congress and the White House began looking at the removal of the mortgage interest deduction for taxpayers who own a home, and believe it could be a low impact measure to save revenues towards cutting the deficit.

Segment #8 Modern education and economics: Students sell sex for tution money On Nov. 29, the UK Independent published a rather interesting look at how the economic recession, and the draconian cost of eduction, are leading students to sell their bodies for tuition money. Sex for education appears to not only be a continuation of the world’s oldest profession, but a sad commentary for the civilized world where the lack of opportunites, jobs, and affordable schooling is forcing kids, especially young women, to use the one true commodity they have that is always in high demand.


Ken Schortgen of the Daily Economist joins us for Fridays Economic Round Up.

Ken Schortgen joins The Angel Clark Show every Friday from 5 – 7pm EST.

About Ken:

As a historian in his primary field of study, and an investor in the real world, Kenneth has a keen perspective on all facets of the financial world. He has owned his own business and corporation, and has been an investor in many different markets such as securities, real estate, currency trading, and international trusts. His desire is to provide you with the true understanding of markets and the economy, and to give you the information that will help you make your own decisions in these troubling, and quite often, fascinating times regarding your economic decisions. Kenneth is not a certified financial advisor, and his only goal is to give you true information, by which you can see things as they happen, and in many cases, before they happen.


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