• Latest News
  • Pitch a Story
  • Work with a Journalist
  • Join the Blog Squad
  • Afghanistan
  • Africa
  • Asia
  • Baltimore
  • Canada
  • Egypt
  • Europe
  • Latin America
  • Middle East
  • Russia
  • Economy
  • Environment
  • Health Care
  • Military
  • Occupy
  • Organize This
  • Reality Asserts Itself
  • US Politics
  • Obama says Economy Poised for Progress - Is It?

    Bill Black: Pres. Obama cannot expect growth in the economy when he continues the policies of austerity -   May 12, 13
    Members don't see ads. If you are a member, and you're seeing this appeal, click here

      Share to Twitter
    Share to Facebook

    I support the Real News Network because it gives members an opportunity to make uncensored comments. - David Pear
    Log in and tell us why you support TRNN


    William K. Black, author of THE BEST WAY TO ROB A BANK IS TO OWN ONE, teaches economics and law at the University of Missouri Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics. Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement. Black developed the concept of "control fraud" frauds in which the CEO or head of state uses the entity as a "weapon." Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae's former senior management.


    Obama says Economy Poised for Progress - Is It?PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Baltimore.

    On Thursday, President Obama was in Austin, Texas, saying that the economy is poised for progress. Here's a little bit of what he said.


    BARACK OBAMA, U.S. PRESIDENT: Thanks to the grit and determination of the American people, we've cleared away the rubble of the worst economic crisis in our lifetimes. So we're poised for progress.


    JAY: Now joining us to give us his take on President Obama's plan and vision is Bill Black. He's an associate professor of economics and law at the University of Missouri-Kansas City. He's a white-collar criminologist, a former financial regulator, and he's the author of the book The Best Way to Rob a Bank Is to Own One.

    Thanks for joining us again, Bill.


    JAY: So what do you make of President Obama's comment, the economy is poised for progress?

    BLACK: So President Obama believes in the magic bullet theory of macroeconomics, which is it doesn't matter whether you're running a stimulus, it doesn't matter whether you're running austerity. As long as you have a few good programs in there, they will somehow miraculously produce an economic turnaround. And that's not how economies work at all, and indeed nobody in economics thinks that.

    So we are not going to get progress if we get progress through these kind of tech centers. These tech centers could be perfectly rational, but you need a policy of non-austerity, and President Obama has been leading us into ever deeper austerity for about 18 months. And so these programs will prove to be ineffective.

    JAY: And these programs, just to--are--he's actually asked Congress for $1 billion, but he's started some already. They want to create these high-tech centers which are government, private, and nonprofit cooperation to create technical innovation in various sectors of the economy, and this is supposed to attract more investment and create more jobs. That's the theory.

    BLACK: Right. And, again, these programs might be perfectly sensible, but the problem is jobs. And $1 billion is, frankly, trivial in terms of the macroeconomic problem of having austerity. And this fits into a couple of the other things we've been talking about in the last several weeks and what I've been writing about.

    First, there's the whole question of, you know, Bangladesh. So Bangladesh is the example of where the industrial manufacturing jobs have gone. The garment industry is now massive in Bangladesh, to the tune of about $20 billion. And what we're seeing--the death toll is now over 800 confirmed in Bangladesh, which makes it the worst industrial accident probably in world history. And, of course, it could have been considerably worse, because there were many more workers in these factory buildings when it collapsed. If it had collapsed in a nastier fashion, the death toll would have been even higher. And the injury rate is roughly twice the death toll. And the injuries are often incredibly severe--amputations, head traumas, and such--that are going to cause permanent disabilities, and if you're in Bangladesh, that's terrible.

    What's the point of all this? The point of all this is it isn't really necessarily cheaper to manufacture clothes in Bangladesh. You simply transferred a lot of the costs of manufacturing--called safety--to the workers, where we don't allow that in the United States or Canada or in Europe. And so as--unless and until we change how the international globalization works, where the foreign competitors can simply gain a cost advantage--and a very large cost advantage--in manufacturing by simply endangering their workers' lives, you're not going to have a success in bringing back manufacturing. So that is a pipe dream.

    JAY: It seems to me President Obama's model, if you read between the lines, is that, number one, the objective is the United States should become more competitive globally, and the recovery will be led by exports, not by domestic demand, and what will fuel that is lower wages--he doesn't say that, but that's the model created in the auto industry, where starting wages went from $26 an hour to $14 an hour. So if you have lower wages in the United States and then you combine that with investing in innovation, so the United States stays or moves even further out front in terms of innovation in various areas, low wages plus innovation leads to more exports, and that's supposed to lead to a recovery. Do you think that's what he's essentially talking about? And if so, what do you make of it?

    BLACK: Well, yes, and we've talked about this before. You can't have all nations be net exporters, right? My export is your import. So this is not a strategy that can work globally, this is not a strategy that can work for all nations. So my export is your import. So we can't all be net exporters.

    Is it an area where the U.S. has a big competitive advantage? Well, no, because of our wage structure, but even more because we actually try to keep our workers alive. So if you go this route, which we call the road to Bangladesh strategy, everybody globally competes to have the lowest possible wage that people simply don't die under. Well, we're not going to win that kind of competition. Bangladesh already, from a large number of its garment workers, they work full-time and they just barely make what the World Bank and the UN define as extreme poverty. So, you know, you could impoverish tens of millions of American workers, and that of course would simply weaken the country, not strengthen it.

    More broadly, what they're doing is austerity. And that brings us to the other shoe that dropped this last week, and that was this wonderful reduction--you know, reductio ad absurdum, of the debate between the extremely conservative historian Niall Ferguson and Paul Krugman about whether you should have stimulus or austerity. This was a debate back in 2009. And, of course, it was right in the expertise of Krugman, so if it had been a boxing fight, it would have been stopped in the first round as a technical knockout type of thing.

    But Ferguson eventually comes along and admits, well, I was wrong about all of that, and then says, but actually I didn't say what I said. And then Krugman actually brought out the words that Ferguson had used endorsing austerity and claiming that stimulus was going to destroy us by creating massive hyperinflation and huge interest rates. Interest rates, by the way, are at record lows. So that didn't go well.

    So Ferguson got his great revenge last week, or at least he tried to. But he ended up shooting himself in the torso. And it fits in with the discussion we've just been having. So Ferguson got asked a question about whether the United States was in what we call a liquidity trap. And that's an economic concept where monetary policy is very ineffective, and it's one of the big ideas associated with John Maynard Keynes, the famous economist. And as part of the question the questioner who is, you know, a biggie in finance asked Ferguson--the questioner mentioned Keynes' famous line about the long run may not have very good policy guidance for what makes sense in the short run; in the long run we're all dead. So queue up Ferguson. And Ferguson chooses not, of course, to answer the liquidity trap argument at all about what's really going on substantively in the economy, launches instead into a gay-bashing attack on John Maynard Keynes, saying that John Maynard Keynes was childless, and this is because he was a homosexual, and even though he was married, he probably just talked poetry to his wife instead of having sex, and because Keynes was childless, he didn't care about future generations. And then Ferguson said this line about in the long run we're all dead meant that we shouldn't worry about any future generations, and so, you see, that's what's wrong, and Keynes has destroyed our economy because of that short-run perspective.

    And so this is all crazed, made-up stuff that is designed to say, hey, austerity, well, I was wrong, but I'm always right, we need austerity, we need austerity. So this is the same disease that fundamentally affects Obama's financial advisers. And it's weird in terms of economics, because, as I said, we've had this debate. We had the austerity forces predict that if we followed their policies, all would be well. Europe did, and it's disastrous. And the United States followed insufficient, mild stimulus, and the results were quite good according to the economic studies. Even the International Monetary Fund, which is the home of austerity, now admits that austerity has been a disaster and that stimulus has been very effective.

    So where does that leave us? Well, the people trying to oppose it at this point are going crazy with this gay-bashing type stuff and disregarding economics entirely. And we have the president of the United States sending our economic advisers to Europe saying, stop this austerity, stop this austerity, it's insane, it's destroying the world economy, and then they come back home and they inflict increasing austerity over the last 18 months in the Obama administration, and, again, as I say, with the theory that Obama has, and only Obama has, that there can be a magic bullet, that you can have austerity shrinking the economy or really slowing down the recovery dramatically, and then if you just have a program and you spend $1 billion on it, you will somehow turn around unemployment and turn around exports.

    JAY: So what is the logic of Obama and his economic advisers? They obviously are smart people. They model this. They have economic projections. I mean, they just seem to have this sort of faith, is it, or some logic that the economy just necessarily comes back, or what?

    BLACK: Well, it depends on which economic advisers at which time. So his initial economic advisers, who he listened to with the stimulus program, were actually pretty good economists, you know, excellent technical economists, and they told him he needed stimulus, and he largely did that.

    Over time, Geithner became his principal economic adviser. And, of course, Geithner is not an economist, doesn't know really much of anything about economics, and is a Republican, after all, that simply as a fig leaf became an independent to take the job. And so Geithner believes in austerity. It's, you know, a good Republican belief. And for reasons that pass all understanding, Obama chose this guy, who was of course a disaster as a regulator and helped produce the crisis, as the guy that he had, you know, in the books, the man crush on--not a gay, just, you know, really liked the guy and they really melded and such. And so that's who he got his advice from.

    And since that time, he's tended to get his advice from Lew, and Lew is, you know, now the Treasury secretary, was again the guy that was the principal person at OMB pushing for austerity.

    So there is this very strong Wall Street wing of the Democratic Party very much associated with Rubin and his proteges, and they include people like Lew and Geithner who are still all through the Obama administration. And Wall Street doesn't much care whether Republicans or Democrats are in power; it just wants these kinds of policies that have proven so destructive for the world.

    JAY: And they just believe that, one, you cut these programs, you have austerity, you reduce government spending, you reduce public debt, and somehow that either prevents inflation or gives--continues confidence in the dollar. And two, they just believe--what?--eventually the economy bottoms out, and eventually it comes back, because it always does.

    BLACK: It's very difficult to figure out what they think they mean economically. Again, these are not people who are economists. So they--.

    JAY: But these are people that--but hold on. These are people that represent people that know how to make money, and these guys are not, you know, detached from the economy. They know how to take advantage of it, and, you know, they watch trends, and they want to make money. They're motivated.

    BLACK: Yeah, but making money doesn't mean that you have to understand the real economy, right? The real economy has almost nothing to do with the stock market, and they largely make their money off the stock market or they largely make their money in debt plays, where understanding fundamental economics isn't necessarily the great advantage.

    But there's something broader going on, and that is simply there have been some really interesting studies recently of what the very wealthy believe. And the very wealthy are not like other Americans in their belief systems. So their big thing is the budget deficit. You know, when they rank problems, they rank the budget deficit. And they rank--for example, 25 percent of them rank inflation as a principal fear. Now, inflation is essentially nonexistent in the United States and the great bulk of the world. We should be so lucky as to have some inflation. That would actually help the recovery in many parts of the world.

    So you shouldn't assume that these really rich guys that run financial institutions actually are very good about economics at all. And, yeah, they get rich, but they could get richer by having a strong economy instead of an economy that is constantly in crisis.

    JAY: Well, maybe then you could take some of Ferguson's logic and apply it to them, because many of the rich do have children. On the other hand, they think their children's future is secure because they're so rich and they don't much care about other children. So they don't think long-term. If they're making money today, that's good enough.

    BLACK: Now there's something more direct. The United States is no longer the nation that is so socially dynamic. In other words, we're actually now one of the least socially mobile nations in the developed world.

    JAY: By that you mean people who start in classes without much money, and some individuals are able to rise to classes that have money.

    BLACK: That's right. So both directions. So people that started out in low-class circumstances and end up in high-class circumstances, we're very low on that, but also the other direction. If you're white in particular or Asian American and you start out in a very wealthy class situation, your chances of your kids ending up in that position are very strong in the United States, much stronger than in many other, European nations. So the very wealthy know that the system now is very successfully rigged in terms of their kids.

    JAY: Alright. Thanks for joining us, Bill.

    BLACK: Thank you.

    JAY: Thank you for joining us on The Real News Network.


    DISCLAIMER: Please note that transcripts for The Real News Network are typed from a recording of the program. TRNN cannot guarantee their complete accuracy.


    Our automatic spam filter blocks comments with multiple links and multiple users using the same IP address. Please make thoughtful comments with minimal links using only one user name. If you think your comment has been mistakenly removed please email us at


    Latest Stories

    The Modern History of Venezuela and Popular Democracy - Edgardo Lander on RAI (9/9)
    An Asia "Pivot" Should Mean Cooperating with China to Solve the Global Environmental Crisis
    Assessing the U.S. Environmental Movement
    Intimidation and Political Interference Goes Unpunished in UAW Case
    Exclusive Investigation Uncovers How BP Uses Bribes To Do Business
    The Modern History of Venezuela, The Protests and Democracy - Edgardo Lander on RAI (8/9)
    Greek Politics 4 Years After The Financial Crisis
    CBO Report Confirms U.S. Deficit Back to Normal Level
    Israel Uses Refugees as "Currency" in Arms Trade with Africa
    Who Will Pay for Climate Change Disaster?
    Canada Shifts to Right Under Harper, Mimicking the United States
    The Savings and Loan Crisis Demonstrates the Importance of Glass-Steagall
    South African Platinum Miner's Struggle Challenges ANC Leadership
    TRNN Original Report: Manning Determined to Fight Back After Army Upholds 35- Year Sentence
    Hundredth Anniversary of the Ludlow Massacre
    The Bundy Ranch Standoff Demonstrates Values Shared by Corporations and the Far Right
    The Resegregation of American Schools
    The Modern History of Venezuela, Why Still So Much Crime? - Edgardo Lander on Reality Asserts Itself (7/9)
    What Role Has Russia Played in Eastern Ukraine?
    Can Johns Hopkins Afford to Pay A Living Wage? (2/2)
    University Sit-In Targets World's Largest Private Coal Company
    The Modern History of Venezuela and the Need for a Post-Oil Economy - Edgardo Lander on RAI (6/9)
    Can Johns Hopkins Afford to Pay A Living Wage? (1/2)
    One Percent of Environmentalists Killings Lead to Convictions
    Investigation Finds Former Ukraine President Not Responsible For Sniper Attack on Protestors
    The Modern History of Venezuela from 1973 to the Caracazo Massacre - Edgardo Lander on Reality Asserts Itself (3/9)
    Ukraine Transitional Gov't Moves Militarily To Reclaim Seized Buildings
    IPCC Report Flawed By Narrow Focus on Carbon Emissions
    The Modern History of Venezuela: The Bolivarian Revolution - Edgardo Lander on Reality Asserts Itself (5/9)
    Obama Signs Directives to Reduce the Gender Wage Gap
    Eastern Ukraine Lacks Political Representation in Kiev
    Demystifying the Role of Mitigation in the Most Recent IPCC Report
    Hypersurveillance State Won't Prevent Another Boston Marathon Bombing
    The Modern History of Venezuela from 1973 to the Caracazo Massacre - Edgardo Lander on Reality Asserts Itself (3/9)
    Univ. of Maine Faculty Reinstated After Students Protest Against Cuts
    The Modern History of Venezuela from 1908 to 1973 - Edgardo Lander on Reality Asserts Itself (2/9)
    IMF Will Address Global Inequality, Says Managing Director Christine Lagarde
    Raising Big Banks' Leverage Ratio Good, But Not Nearly Enough
    TRNN Replay: Austerity Road to 19th Century
    Has Palestinian Maneuvering Revived Peace Talks?
    Late Jackson Mayor Lumumba's Son Wins Primary to Replace His Father, Runoff Election Ahead
    Quebecers Reject PQ and Elect a Liberal Government Representing Big Business
    TRNN Debate: Decriminalization vs. Legalization
    The Beginning of the Chavez Era - Edgardo Lander on Reality Asserts Itself (4/9)
    "Off With His Head": Court Upholds Obama's Power to Kill
    Workers at Nation's Top Hospital Strike For Fair Wages
    From Exile to Radicalization in Venezuela - Edgardo Lander on Reality Asserts Itself (1/9)
    Rwanda 20 Years Later: Genocide, Western Plunder of Congo, and President Kagame
    Ukrainian Protesters in the East Demand More Autonomy From Kiev Government
    Hunger Strikers Demand President Obama Halt His Record 2 Million Deportations
    Indian Parliamentary Elections - A Primer With Vijay Prashad
    West Looks to Carve Up Ukraine & Privatize Industries Held by Kleptocrats
    Where Are Israeli-Palestinian Peace Negotiations Headed?
    The Multiple Kingdoms of Saudi Arabia (5/5)
    Do the Afghan Presidential Elections Signify Progress?
    Republican Presidential Hopefuls Pay Homage to Billionaire Casino Tycoon Sheldon Adelson
    Will Extremist Lieberman Become Israel's Next Prime Minister?
    Why do the Saudis Want the US to Attack Iran? (4/5)
    Immigrant Advocates and Families Tell President Obama 'Not One More'
    Elections, Pipelines, and Protests - The Canada Panel
    Chris Hedges on "Israel's War on American Universities"
    Baltimore Residents Decry Lack of Affordable Housing
    Yellen Talks the Talk But Will She Walk the Walk?
    Hopkins Hospital Workers Speak Out against "Poverty Wages"
    Will Venezuela's New Floating Exchange Rate Curb Inflation?
    The European Central Bank's War on Wages is Pushing Europe's Economy to the Brink
    Supreme Court Decision Opens Floodgates for More Campaign Cash
    Charles Keating, the Financier Behind the Savings and Loan Scandal, Dies at 90
    Saudi Arabia and the al-Qaeda Monster (3/5)
    Maryland Residents Voice Opposition to Natural Gas Fracking Export Facility
    Supreme Court Ruling Gives Wealthy Individuals More Influence Over Elections
    What are the Saudis Afraid Of? - Madawi Al-Rasheed (2/5)
    Baltimore's MICA Adjunct Professors Set to Vote on Unionization
    Boycott of Israel Moving to Next Level?
    Hypocrisy Dressed Up as "Realism" Justifies American Alliance with Saudi Dictatorship
    Immigration Reform in the Shadows of Cesar Chavez's Legacy
    Leaked Senate Report Shows Use of Torture As "Ineffective"
    UN Report Says Climate Change Will Threaten Food Production Worldwide
    The Hypocrisy of US Calling for Enforcement of International Law
    How the Ecuadorian Economy Grew in a Global Recession
    'Shadows of Liberty' Trailer
    Kristina Borjesson on Why CBS Shut Down Her investigation into Flight 800 (2/8)
    Glen Ford on Racism in the American Media (3/8)
    Paul Jay on What Drives Corporate Media and What Drive The Real News (4/8)
    Creating a New Media Paradigm After Citizens United (5/8)
    Should The Left Engage with the Mainstream Media? (6/8)
    What Is the Financial Backing For The Real News? (7/8)
    Standing up to Character Assassination (8/8)
    Oligarchs, Fascists and the People's Protest in Ukraine
    TRNN Debate: Is Obamacare In the Interest of Workers?
    Too-Big-To-Fail Advantage Remains Intact For Big Banks
    Obama and the Saudi Agenda
    TRNN Replay: Investigating the Saudi Government's 9/11 Connection and the Path to Disilliusionment - Sen. Graham on Reality Asserts Itself pt 1
    The Iraq War's Real Legacy
    Petitions with 100,000+ Signatures Call for Snowden's Passport to be Reinstated
    We Need to Harness People Power - Andy Shallal on Reality Asserts Itself (4/4)
    BC Pipeline Fight and Quebec Elections - The Canada Panel
    Jonathan Schell - 1943-2014: Board Member of TRNN on Why We Need The Real News
    Teachers on Strike from the UK to Argentina
    Connecticut Poised to Become First State with $10.10 Minimum Wage
    Oil Spill Threatens Wildlife and Local Economy
    DC School Test Scores Up, But Poor Black Kids Are Doing Worse - Andy Shallal on RAI (3/4)
    Obama's Proposal To End NSA Bulk Data Collection Won't Protect Privacy
    How Google, Apple & The Biggest Tech Companies Colluded to Fix Workers' Wages
    An American Should be One that Questions Their Government - Andy Shallal on RAI (2/4)
    What's Driving Putin & Obama's Posturing on Ukraine?
    Hundreds of Students & Faculty Occupy College Campus to Fight Cuts to Public Higher Ed
    Due Process 'Impossible' In Harsh Death Sentencing Of Over 500 Muslim Brotherhood Members
    Has Anglo-American Capitalism Run Out of Steam?
    Being the "Other" in America - Andy Shallal on Reality Asserts Itself (1/4)
    TRNN Debate: Should Baltimore 'Ban The Box'?
    How Fallujah Became the Iraqi Government's New Battleground
    Why I Decided to Blow the Whistle on the NSA
    NASA Climate Predictions Show Serious Threat To Humanity
    Professor Who Teaches Israel-Palestine Conflict Accuses College of Violating His Academic Freedom
    CIA and NSA Wrongdoing Requires Independent Investigation, Says Former Church Committee Staff
    Are Tuition Breaks Enough To Combat High Student Debt And Low Graduation Rates?
    Industries Across the U.S. Are Stealing Wages From Their Lowest Paid Workers
    Who In Ukraine Will Benefit From An IMF Bailout?
    NSA Recording All International Calls From U.S.
    Israel "Making Lives Miserable" for Africans, Hoping They 'Self-Deport' (2/2)
    BP Gets Green Light to Drill in Gulf, But Has Safety Improved?
    Residents Still Not Drinking Tap Water Two Months After West Virginia Spill (1/2)
    Libya's Descent Into Turmoil Three Years After NATO Intervention
    From Pipelines to Peladeau - Canadian Report
    Israel "Making Lives Miserable" for Africans, Hoping They 'Self-Deport' (1/2)
    Congressional Progressive Caucus Budget Strikes Back Against Austerity
    Libya Three Years Later - Chaos and Partition
    Why Was Gaddafi Overthrown?
    Should Ukraine and West Accept De Facto Crimea Joining Russia? (2/2)
    Tony Benn Saw Socialism as the Culmination of Democratization
    Why Didn't Bush/Cheney Attack Iran and Can Obama Make and Sell a Deal? - Gareth Porter on Reality Asserts Itself (3/3)
    After Late Mayor Lumumba is Laid to Rest, What's Next for Jackson, Mississippi? (2/2)
    Crimea Referendum: Self Determination or Big Power Manipulation? (1/2)
    Sen. Graham: President Must Side with Openness About CIA and 9/11
    Manufacturing a Narrative for War - Gareth Porter on Reality Asserts Itself (2/3)
    Protesters Hit the Streets of Brooklyn to Demand $15 Minimum Wage
    Hammer: 'Moral Bankruptcy' Behind Massive GM Recall
    White House Withholds Thousands of Documents from Senate CIA Probe
    I Grew Up Believing in Time Magazine's Version of America - Gareth Porter on RAI (1/3)
    Western European Banks Vulnerable to Ukrainian Sovereign Debt Crisis
    TRNN Debate: What's Driving Inflation in Venezuela? (2/2)
    CIA vs. Senate: Who Is Obama Protecting?
    Will Tipped Workers Get Excluded Again From Minimum Wage Hike?
    TRNN Debate: What's Driving Inflation in Venezuela? (1/2)
    After Late Mayor Lumumba is Laid to Rest, What's Next for Jackson, Mississippi?(1/2)
    TRNN Replay: A Look at Who's Poised to Become No.2 at the Fed
    How Right-Wing Nationalism Rose to Influence in Ukraine (2/2)
    Netanyahu Attacks Boycott As Campaign Enters New Phase
    Moving Towards a Police State - Michael Ratner on Reality Asserts Itself (7/7)
    Fighting Reagan's Secret, Illegal Wars - Michael Ratner on Reality Asserts Itself (6/7)
    Puerto Rican Independence Movement and Cuba Further Radicalized Me - Michael Ratner on RAI (5/7)
    The Butcher of Attica - Michael Ratner on Reality Asserts Itself (4/7)
    MLK and a Radicalizing Moment in American History - Michael Ratner on Reality Asserts Itself (3/7), Real News Network, Real News, Real News For Real People, IWT are trademarks and service marks of IWT.TV inc. "The Real News" is the flagship show of IWT and Real News Network.

    All original content on this site is copyright of The Real News Network.  Click here for more

    Problems with this site? Please let us know

    Linux VPS Hosting by Star Dot Hosting