Bank Bailout News D-Day For Taxpayers: Generational Pillaging Continues Unabated. Bondholders Win, Your Kids Lose. Total Taxpayer Commitments expand to above $10 Trillion. Can we Party Like it's 1776 and Just Start Over? Jefferson Pukes in his Grave.
As we expected there is no plan. It's an empty shell not unlike our children's future. All details including the start date of the monetization of our national debt are still to be announced in the next few weeks. Jefferson just puked in Monticello and sent us a text. He said something about a revolution and then added this:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Let the words sink in. (Jefferson's top 10 quotes on money and banking.) He had his faults. Personally, I could never shake the reality that he built slave quarters into the architecture at Virginia. Though he was decent at revolution. First a snip on his election to the Presidency in 1800. He ran on the Democratic-Republican ticket.
In 1819, Thomas Jefferson recalled his own election as president nearly two decades earlier as a "revolution" in American politics. "Revolution" is a strong word, but it was probably the right word, for the Democratic-Republican Party Jefferson led into power in 1801 was dramatically different from the Federalist Party that had governed since 1789. But Jefferson's use of the word signified more than a mere transition from one party to another; Jefferson believed that the Federalists he defeated represented not just a different political vision, but a dangerously wrong political vision—one that threatened to restore the antidemocratic principles and institutions of the British government Americans had rejected in 1776.
For Jefferson, therefore, the election of 1800 represented more than a simple changing of the guard. It signified the restoration of America's Revolutionary vision, the return of the great ideals of 1776. And in Thomas Jefferson's mind—as in the minds of his followers—Jefferson himself, as the author of the Declaration of Independence, was just the man to lead this second revolution.
DailyBail
Updated with Wednesday's links.
Reader Comments (12)
http://www.bls.gov/news.release/empsit.nr0.htm
I will break this down for you using my appraiser hat....
There are est. 301,621,157 people in the US as of 2/07/2009
There are 160,359,479 of working age (20-65) and that is 53% of total pop.
The previous unemployment on 2/07/2008 was 4.7% or 7,500,000
The current unemployment on 2/07/2009 is est 7.2% or 11,600,000
This is a 64% increase in total unemployment since 2/08. Imagine if these numbers are fudged by Gov't and if the % change continues at the moonshot pace. You never hear the unemployment numbers expressed in any way other than a percentage. The truth is that 11.6 MILLION people are out of work...and SEEKING WORK. This is roughly 232,000 people looking for work in each state if applied equally across the board. Now some states like the Dakotas don't even have 200,000 in total population. Now you are starting to get my drift.
The 2 truths about economic hardship
1) People hate you for telling them the truth
2) They hate you even more when they realize you are RIGHT.
If you doubt this back of the napkin rough draft...go to the link above and run the numbers for yourself......
http://www.bls.gov/news.release/archives/empsit_02062009.htm
Table A-12. Alternative measures of labor underutilization. You have to love that "labor underutilization" euphemism. :P
That is the "official" unemployment rate, but the under U-6, the "unofficial" unemployment, or otherwise marginally attached for economic reasons, rate as of January 2009 is a whopping 13.9%. I suspect this number is actually much higher. Have you seen the lines at unemployment offices? Some people are too proud to even admit it. Maybe they plan on moving back in with the folks. Additionally, anyone who exhausts their benefits on unemployment insurance falls out of the statistical net into oblivion. What about high school and university graduates that can't even find part-time employment? You have to have been employed at one time to claim unemployment. Good times. Good times. At least Ken Lewis agreed to the $500K salary cap and didn't add to the statistic. [sarcasm]
U6 will hit 17% this year and 20% next year. so we are at depression levels of unemployment pretty much now.
keep hanging around here. you know your shit.
thanks