Friday
Nov062009
Bernie Sanders Introduces "Too Big To Fail, Too Big To Exist Act"
Leave it to the only avowed Socialist in the U.S. Senate to fight battles against Bailout Socialism. Bernie is fed up with too big to fail, so much so that today he officially introduced a remarkably simple 2-page bill aptly named the "Too Big To Fail, Too Big To Exist Act."
Watch (don't click unless you're coming from our email newletter -- video is below)
PLEASE email, facebook, re-tweet, share and take our stories with you when you leave. Our only weapon against the madness is GREATER AWARENESS. Thank you.
Nov 6, 2009 at 5:57 PM
Reader Comments (51)
business, feudalism, american-working-poor, no-more-american-jobs, no-more-freedom-for-anyone, ruling-class-greed, treasonous-bastards, washington-and-wallstreet-have-betrayed-america
JeniferD
http://shock-treatment65.newsvine.com/_news/2009/10/17/3393720-should-washington-and-wall-street-be-charged-with-high-treason
Greed is a sickness, like the swine flu on steroids.
Gluttony
Voracity
Ravenousness
Insatiability
Self-Indulgence
Buffett is as sick as the rest of the banksters. The lure of easy short term profits on more Vegas bets shows how repentant the best of the worst is. The speculation creates nothing but the profits have to come from something. You can’t get blood out of a stone. Shame on Buffett, shame on them all. They can’t give up their drug, not when the getting is still so good for them.
Regulators shut banks in 5 states; marks 120 US bank failures this year
* By Ieva M. Augstums and Marcy Gordon, AP Business Writers
CHARLOTTE, N.C (AP) -- Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.
http://finance.yahoo.com/news/Banks-in-Ga-Mich-Minn-Mo-apf-3282864371.html?x=0&sec=topStories&pos=1&asset=&ccode=
Seems like a concept that applies to the entire United Sates of America.
http://redi2revolt.blogspot.com
Did this make the national news? I heard it on Democracy Now on Friday night.
Is there a straw that will break the camel's back or will it go from worse to worse to ....?
http://www.democracynow.org/
In the real conspiracy to take every last bit of our freedom, turn us into cattle, and bankrupt the country, our idiot congressmen have voted for "the health care bill" -- whatever the hell is actually in it. From what's being reported right now, there IS a "mandate" to buy health "insurance" from one of the big bloodsucking insurance companies.
Here's your moment, Ken. It's time to revolt. Time for civil disobedience. Even if it means you already have insurance but you write and call your congress-critter's office anyway to say FU, I'll buy whatever insurance I like, thank you very much. And don't come home 'cause we're gonna be tea-partying on your front lawn. Scratch. Make that "pitchfork partying" on your front lawn.
And you KNOW they didn't actually read the bill. Fuckers.
You know, my people have been in this country for hundreds of years and I am so sick and tired of being ruled by these imbeciles. It's high time we kick them out of our country. It's my country damn it. And I'm not going to be told by the likes of Nancy Pelosi and Barack Uh..uh..uh..uhh...uhh-bama that I have to buy ANYTHING. This is the last straw.
Dear Mr. Dxxxxxx::
I am very disappointed to hear that you have voted for a massive health care entitlement program, that we cannot afford, and that includes an un-Constitutional federal mandate that individuals purchase a government approved health insurance policy. In fact, like many people in the district, I am exceedingly angry.
It was bad enough that you voted for a bank bailout bill that you didn't even understand. (Your public statements on AIG and credit default swaps, for example, are embarrassing.) It was bad enough that you voted for a massive "stimulus" bill that you couldn't even explain how it was supposed to work and which you DIDN'T EVEN READ before it came up for a vote. (I wrote you and your staff 9 months ago about the "stimulus" bill, but you still haven't bothered to answer two or three simple questions about the bill.)
That was bad enough, but this insurance mandate is the last straw. You and the other members of congress who voted for the health insurance mandate, which is part of a 1,990-page bill you haven't even read, have no right to decide how I and other people in the district will spend our money or how we will protect ourselves and our families in the event of a medical emergency. Whether I purchase health insurance from the government created insurance cartel is strictly my business. In fact, I reserve the right NOT to purchase federally mandated insurance if I so chose.
Please understand, I don't typically write letters like this one. I am not a crank, and I am not a partisan political junky (I'm not even a Republican). I am a husband, a father of three, and a taxpayer. I am a law-abiding citizen and I love this country. But in the past year, you folks in congress have broken the camel's back. You don't listen to us, you don't care what we think, and now you think you have the authority to tell us how to spend our health care dollars. I cannot be more clear: you have no such authority. You can pass un-Constitutional health insurance mandates till you're blue in the face, but I'm opting out of the "Obamacare."
With sincere thanks,
James Hxxxxxxx
Nxxxxx Xxx
No more sincerely pleasing letters
They don't care................They are criminal Rulers not our representatives now
NO if NO but : Revolt is your Duty now
64 Seconds With Judge Andrew Napolitano: Revolution Is The Duty Of The People
http://www.youtube.com/watch?v=9b3Q89FZoY0&feature=player_embedded
WASHINGTON IS NOW CRIMINAL RULERS NOT OUR REPRESENTATIVES
http://redi2revolt.blogspot.com/
Should Washington and Wall Street be charged with High Treason?
business, feudalism, american-working-poor, no-more-american-jobs, no-more-freedom-for-anyone, ruling-class-greed, treasonous-bastards, washington-and-wallstreet-have-betrayed-america
JeniferD
http://shock-treatment65.newsvine.com/_news/2009/10/17/3393720-should-washington-and-wall-street-be-charged-with-high-treason
remember that story? Moshe a chemist for Baxter Pharm and Mossad warned in mid summer that the pneumonic plague would be RELEASED in the Ukraine, and that the H1FU vaccine is simply a vehicle to vastly lower immunity to it. Guess his conscience got to him a bit. He was arrested by SWAT teams for 'threats to the president'. Do you REALLY know whats going on in the world? Follow me down the rabbit hole, I'll show you how deep it goes.
http://theflucase.com/index.php?option=com_content&view=article&id=1534%3Ahas-baxter-international-released-a-biological-weapon&catid=41%3Ahighlighted-news&Itemid=105?=en
Have you ever read the Declaration of Independence? Jefferson didn't simply say FU to Parliament and King George -- he played along with the whole "golly, you guys aren't doing your duty" theme. But then he also inserted the little bit about inalienable rights. It's a nice one-two punch. Strategically playing the game is better than simply giving them the old one-finger salute. It gives your cause an appearance of legitimacy that it wouldn't otherwise have.
Anyhow, this is just the House, but I'm not hopeful about the Senate.
Everyone need to learn Defensive Illness Prevention. Keep your immune system at Top Level condition. Anticipatory Illness Preventative defense can be considered after exhaustive research into comparative findings regarding the usefulness of natural medicines compared to man made medicines. PubMed is a good starting point. For example: Look for 'Green Tea' and 'Curcumin' and/or Turmeric.
Understanding how viruses propagate and attach to host cells is of import. Likewise folks need to do research into bacteria and gain deeper grasp. Here the Net is your friend.
Further visit www.imref.org learn more and wise-up.
No matter where any virus or bacterium originates from, we have to be ready - hence focus irrespective on how to survive. Knowledge IS power.
Friday, November 6, 2009 - 09:17
http://fto.co.za/news/ukraine-declares-martial-law-following-pneumonic-plague-outbreak-2009110615730.html
Joseph Moshe warned of pneumonic plague release and was arrested
remember that story? Moshe a chemist for Baxter Pharm and Mossad warned in mid summer that the pneumonic plague would be RELEASED in the Ukraine, and that the H1FU vaccine is simply a vehicle to vastly lower immunity to it. Guess his conscience got to him a bit. He was arrested by SWAT teams for 'threats to the president'. Do you REALLY know whats going on in the world? Follow me down the rabbit hole, I'll show you how deep it goes.
http://theflucase.com/index.php?option=com_content&view=article&id=1534%3Ahas-baxter-international-released-a-biological-weapon&catid=41%3Ahighlighted-news&Itemid=105?=en
Do you think America needs a Revolution or Civil War to change?
It seems like presenting informative facts, discussion and debates and the like are not helping citizens to vote for the best qualified candidate. Also there are only two candidates and some people will argue that's the real problem? I don't believe a war could happen in modern times but what are your thoughts on this?
My views have been:Neither is required, what is required is democracy. That is the thing that would change America.
A two system has never brought about good change for the masses. People develop much more when they all start working for the common good. This can only be truly achieved when there are many types of input and everyone is engaged in that system.
Work for each other and not for self..... that is strange but all books from all Faiths give that message. perhaps we can be grown up enough to understand it and make the world a much better place.
But Now I strongly believe , only non violent collective tax and bankers boycott revolt can shake the criminal rulers in Washington DC
No more debates or arguements, urgency to chart revolt course of action now:
The 2 party system of puppets has been exposed, the plan of the globalist elite to destroy this country and to set up world wide tyranny has been exposed.It is now time for the people to rise up and take down the criminals!
America: Freedom to Fascism - Director's Authorized Version
http://video.google.com/videoplay?docid=-1656880303867390173#
You may well be right. Others say the same thing in other places, in otherr forums, etc. Karl Denninger has been saying this for months. But again, the key is to get enough people to make it worthwhile.
What's your take on the tea party/9-12 people? You were pretty excited back in September.
They are more important than the rest of us...
If you happen to live in the Midwest you may eventually become a Canadian citizen after a civil war occurs. That's what Igor Panarin predicts. Mr. Panarin heads the Russian Foreign Ministry's academy for diplomats. He is a former KGB analyst and is a key Russian expert on Russia-U.S. relations.
He argues that:
* Economic and moral collapse will trigger a civil war in the U.S. in 2010;
* There is a 55-45% chance that the U.S. will disintegrate and split into six parts (see map below);
* Each part will become affiliated with another country or part of the world--for example, Midwest and several other states will become affiliated with Canada.
Is he serious? Yes, at least that's what the official media in Russia would have us all believe.
Americans hope President-elect Barack Obama can work miracles, he has written, "But when spring comes, it will be clear that there are no miracles."
http://worldvueletter.blogspot.com/2008/12/us-civil-war-coming.html
Video Removed?lol
http://papastraighttalk.blogspot.com/2008/12/us-to-collapse-in-2010.html
China, India, Brazil, Pakistan, private individuals, and other industrialized countries continuously accumulate large quantities of surplus US dollars that they earn mostly by manufacturing things for international export trade of products to the USA.
The industrial companies and/or individuals that earned US dollars with their foreign trade surplus have surplus US dollars that they normally invest, rather than hold.
Security instruments purchased at FED Auctions can also be redeemed for title to US real estate.
The US Government essentially became bankrupt when the US stopped redeeming our currency (US T-Bills, US bonds, US dollars, etc.) for gold from our gold reserves at Fort Knox in 1971 or 1972. The US government then declared that the dollar is now backed by the “full faith and credit of the USA” instead of gold (aka Junk Bonds). We now allow the exchange of title to US property, instead of gold, to redeem foreign earned US dollars and other currencies.
The US Federal Reserve publicly received bids of almost 4% interest for $100 billion of freshly printed paper US Treasury securities issued in May 2009 public auctions. This was about double the rate expected by the Treasury Department. The US government will need to “borrow” (or sell freshly printed-paper securities on an amount of at least $6 trillion more US dollars from the industrial manufacturing countries that earn US dollars before the end of 2009 by conducting more of these same US Federal Reserve auctions.
If we disallow the foreign purchase of our US located privately owned real estate, farms, agri-businesses, food supplies, dairies, forests, industries, breweries, hotels, factories, casinos, financial institutions, retail businesses, and most other assets located in the USA (that were created by past generations) in return for the finantial instruments that we “sold” to them for US dollars, the industrial producing nations will then bid close to zero for our financial instruments and your US dollar savings might not last you for a week. Your weekly paycheck might not buy a loaf of bread.
Economics, Trade Deficit, Government Spending Deficit, Jobs for Americans, and the Buying Power or value of the US Dollar are all interrelated and very important. These subjects need to be understood by the General Public. Economics is not that complicated. It is interlocked with understandable cause and affect principals of various economic action options.
Real wealth and real monetary value is created only when a family (or an organization, tribe, country, etc.) grows and harvests something from the earth, extracts something of commercial value from the earth, provides professional services (medical, legal, dental, engineering, architecture, accounting, land surveying, technology, etc.), and/or makes (manufactures or constructs) something that is consumable (or permanently useful) and then sells these items and/or services to parties outside of their family in return for a net transfer of gold, currency or commodities from other parties into their family. The members of that family reflects their real wealth with the accumulation of grain, gold, cattle, jewels, land, buildings, commodities and/or other marketable products for reserve use in times of emergency and/or also to raise the standard of living for the members of that family.
People working together in an organized fashion are generally more productive than individuals working alone. An extended family will live better than a nuclear family. A tribe will live better than an extended family. A nation will live better than a tribe, until the nation’s leaders decide to spend the resources unwisely.
Any organization, family, tribe, country, etc. and its members can prosper or become debt ridden in accordance with their industrial behavior, government spending behavior, and other economic actions.
If any organization purchased imported things from outside of their country, but of less monetary value than the monetary (or otherwise useful value) of the items that they sold and exported to foreign countries, then that country would have a net positive foreign trade balance. Only a net positive foreign trade balance would have increased the value of the real wealth privately owned assets of that country.
The USA government economic policies, environmental regulations, and other recent laws have caused our wealth generating factories to close, and then lay off the US workers for labor cost savings and also to escape the costs of existing and anticipated future environmental regulations.
Consumer spending is a symptom of economic well being, not a cause of economic recovery. The population needs to be employed and able to support their families for economic and political stability.
Transportation, distribution, warehousing, tax collection, sales, marketing, delivery, packaging and other similar services to people outside of and within that family (or an organization, tribe, country, etc.) are necessary to enable and support the original creation of wealth by other basic productive efforts within in that country. These costs are added to the cost of the product that was initially created by other basic productive efforts within in that country. These services are necessary for the export of locally made products to foreign countries in return for foreign exchange.
Yes, the Critical Theory department at Occidental College is offering course 180. STUPIDITY.
The course description claims stupidity to be “those operations and technologies that we conduct in order to render ourselves uncomprehending…the double of intelligence rather than its opposite.” Stupidity has been redefined and “dumbed down,” the department says, and can be “felt in political life ranging from the presidency to Beevis and Butthead.”
Interestingly, “Beavis” has been misspelled in the Stupidity course description. Was this intentional, maybe just to see who’s paying attention? Or is the show really too stupid to be thoroughly analyized by the department? Wait, that wouldn’t count as stupidity either since they’re looking at it from a philosophical perspective.
Via Occidental College
http://departments.oxy.edu/registrar/catalog/ctsj.html
http://www.youtube.com/watch?v=ht_W5_Ogh0U&feature=player_embedded#
Gearld Celente: Wall Street has hijacked Washington DC
http://www.youtube.com/watch?v=2BA4NA6QmVA
Max Keiser 1/2: Wall Street Gangsters Hijack Economy, People Now Debt Slaves
http://www.youtube.com/watch?v=IlmIgrqb7hs
Here's your moment, Ken. It's time to revolt. Time for civil disobedience. Even if it means you already have insurance but you write and call your congress-critter's office anyway to say FU, I'll buy whatever insurance I like, thank you very much. And don't come home 'cause we're gonna be tea-partying on your front lawn. Scratch. Make that "pitchfork partying" on your front lawn.
And you KNOW they didn't actually read the bill. Fuckers.
You know, my people have been in this country for hundreds of years and I am so sick and tired of being ruled by these imbeciles. It's high time we kick them out of our country. It's my country damn it. And I'm not going to be told by the likes of Nancy Pelosi and Barack Uh..uh..uh..uhh...uhh-bama that I have to buy ANYTHING. This is the last straw.
I wrote the letter and with this links:
Dana Gould Interviews Health Care Reform Opponents Comparing Hitler’s 3rd Reich to Obama Policies; Remote Area Medical Provides Free Care to the 3rd World, and Americans
http://www.youtube.com/watch?v=ht_W5_Ogh0U&feature=player_embedded#
Celente: Wall Street has hijacked Washington DC
http://revolutionarypolitics.com/?p=2864
http://www.youtube.com/watch?v=2BA4NA6QmVA
Max Keiser 1/2: Wall Street Gangsters Hijack Economy, People Now Debt Slaves
http://www.youtube.com/watch?v=IlmIgrqb7hs
And big FU ..+will calling all Washington Criminals offices Monday
Revolt urgency now:
Look at this Goldman Sachs Financial Al Qaeda Chief (Llyod Blankfein=Bin Laden) comments today
Goldman Sachs boss says banks do "God's work"
http://www.reuters.com/article/marketsNews/idCNL828035820091108?rpc=44
Like MAx Keiser recommends in the Video: blow up Goldman Sachs criminal Terrorists America..wacth teh video link here
Dana Gould Interviews Health Care Reform Opponents Comparing Hitler’s 3rd Reich to Obama Policies; Remote Area Medical Provides Free Care to the 3rd World, and Americans
http://www.youtube.com/watch?v=ht_W5_Ogh0U&feature=player_embedded#
Celente: Wall Street has hijacked Washington DC
http://revolutionarypolitics.com/?p=2864
http://www.youtube.com/watch?v=2BA4NA6QmVA
Max Keiser 1/2: Wall Street Gangsters Hijack Economy, People Now Debt Slaves
http://www.youtube.com/watch?v=IlmIgrqb7hs
And big FU ..+will calling all Washington Criminals offices Monday
I understand that some readers here favor some kind of govt-provided health care (for non-senior citizens), but the bills they propose are just another giveaway to the insurance companies; they have a pernicious "mandate" attached to them; and they do nothing -- zero -- to fix runaway costs. People are afraid of rationing, and perhaps they should be. But likely they won't ration enough. We'll get massive cost overruns instead. (Maybe that's the "good" alternative.)
Revolt urgency now:
Look at this Goldman Sachs Financial Al Qaeda Chief (Llyod Blankfein=Bin Laden) comments today
Goldman Sachs boss says banks do "God's work"
http://www.reuters.com/article/marketsNews/idCNL828035820091108?rpc=44
Let us crucify the Terrorist claiming to be doing God’s work
We work our asses of these Criminals sitting on computers sucking our blood with scam Wall Street Casino.........
We don't need Wall street Casino...these criminals Terror weapon must be destroyed
Dump all pension plans...mutual funds, annuities and what not......
Fuck the criminals now
Fellow Americans
Fellow Americans
Like MAx Keiser recommends in the Video: blow up Goldman Sachs criminal Terrorists America..wacth teh video link here
Dana Gould Interviews Health Care Reform Opponents Comparing Hitler’s 3rd Reich to Obama Policies; Remote Area Medical Provides Free Care to the 3rd World, and Americans
http://www.youtube.com/watch?v=ht_W5_Ogh0U&feature=player_embedded#
Celente: Wall Street has hijacked Washington DC
http://revolutionarypolitics.com/?p=2864
http://www.youtube.com/watch?v=2BA4NA6QmVA
Max Keiser 1/2: Wall Street Gangsters Hijack Economy, People Now Debt Slaves
http://www.youtube.com/watch?v=IlmIgrqb7hs
And big FU ..+will calling all Washington Criminals offices Monday
What does this mean? What mandate?
The health care bill (which I am opposed to in every way) is not a giveaway to the insurance companies, it is a giveaway to health care services companies like Cardinal Health in Ohio. These companies will be the ones who the government will outsource to. They will no longer have the insurance companies to control their costs and share profits with, the will get it all. Maybe Haliburton will diversify and join the new health care services gravy train. You are right about the cost overruns but that implies that they will have budgets to run over. The government has no real budget because they treat the taxpayers like their bottomless piggybank. We will get the cost overruns but don’t think that they will not come with greater inefficiencies and the rationing. The government will panic early on and go crazy trying to force healthy people into unneeded “preventative medicine” costs in the hopes that it really will save money in the long run which is very debatable. Hey James, I know you mean well. In this case, we might even grab the same picketing sign (that is if yours says Obama is a Fraud, Socialism in One Step Closer to Communism like the one I will be sporting).
What is up with DailyBail? This site is really getting stale.
"The government has no real budget because they treat the taxpayers like their bottomless piggybank." Like, duh. Preaching to the choir, here. Something you forgot to add, or are you just pretending to be informative?
Also, stop it with the Obama baiting. It's me, James H. You know damn well (or ought to know) what I think of Obama.
http://www.youtube.com/watch?v=_rRE5UK6NQU
"Do you remember as recently as one month ago we were told the Health Care Reform bill was “only” going to cost about $800 billion dollars over ten years? (And do you remember when Ron Paul kept saying that all government programs always wind up costing more than their original estimates?) Well, in the last “sixty seconds,” notice how the $800 billion price tag has already gone up to $1.2 trillion dollars over the next ten years. That’s a 50 percent increase in a month."
http://www.lewrockwell.com/blog/lewrw/archives/042327.html
Yes, that is why we need to kick these criminal rulers in town hall or any public stage. All make your youtube videos with harsh reality outrage now...........................
http://www.youtube.com/watch?v=_rRE5UK6NQU
Old but must read:
U.S. Intel Chief's Shocking Warning: Wall Street's Disaster Has Spawned Our Greatest Terrorist Threat
By Chris Hedges, Truthdig. Posted February 17, 2009.
http://www.alternet.org/rights/127252/u.s._intel_chief%27s_shocking_warning:_wall_street%27s_disaster_has_spawned_our_greatest_terrorist_threat/
"Astounded" by Goldman's Upgrade: Banks "Heading Into the Storm," Whalen Says
Letters: Goldman Sachs CEO: If only we'd listened to Enron - Salon
An unregistered gun gets you called a 'terrorist' and a big fine. ... if anybody is even close to believing some bs from the CEO of GS, ... out what in God's name transformed a successful multi-billion-dollar company into a scandal. In fact, Fastow went to great lengths to hide what he was doing, ...
U.S. Intel Chief's Shocking Warning: Wall Street's Disaster Has Spawned Our Greatest Terrorist Threat
By Chris Hedges, Truthdig. Posted February 17, 2009.
Yes, where is the personal responsibility?
Welfare mothers have to fill out massive questionnaires, and get audited all the time. Poor working people apply for state health insurance and have to have almost no assets to get coverage. Workers rush to the time clocks. Incompetents get fired. Broke men try to pay child support. Marijuana smokers go to jail by the hundreds of thousands. Drug convictions haunt peoople for years. An unregistered gun gets you called a 'terrorist' and a big fine. An ounce of weed in your car gets it impounded, to the benefit of the police. Cars are towed during snowstorms by the thousands. Parking tickets flower in certain pricy neighborhoods. Being on the street when the cops don't want you there gets you maced. Steal a loaf of bread and get arrested, and sent to jail. Lose your job and apply for jobs your are not going to get. Don't be found out working too much, or you will be kicked off unemployment.
But the bankers, for the most part, walk away with big bonuses, while one of their number 'might' get indicted. A sacraficial lamb, so that the rest may live.
Punishment for the masses, perks for the corporate banking class.
http://www.alternet.org/rights/127252/u.s._intel_chief%27s_shocking_warning:_wall_street%27s_disaster_has_spawned_our_greate
this is where you all post next:
http://banking.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm&CFID=15887660&CFTOKEN=34633505
http://financialservices.house.gov/contact.html
http://www.whitehouse.gov/contact
http://oversight.house.gov/
http://www.justice.gov/contact-us.html
http://www.youtube.com/watch?v=HAwCU21GNMQ&feature=related
UPDATE 11/8/09 10:57pm est Report From Nov. 1st - 4 Doctors had Already Died
A Report from November 1st, when it seems real information was somewhat still being released - says 4 Doctors had already died of the 54 reported deaths at that date.
H1N1 Doctor Deaths In Ukraine Raise Concerns
http://ukraineplague.blogspot.com/
US Dollar demise is next=Petro Dollar demise=Argentina or Zimbabwe next
and yes.........dear no choice but to revolt is only the way for us (working Class)
and yes great video=sign of times emerging
Wow, check this out. Protesters in N.H. - middle class people talking about Ghandi, civil disobedience, Concord, MA, and upping your deductions so you can get more of your taxes in-hand so that you can turn around and refuse to pay them. Awesome stuff. Start at about 7:00.
http://www.youtube.com/watch?v=HAwCU21GNMQ&feature=related
Folks Must read for All
Will America’s Besieged Middle Class Snap?
A paradox arises to the extent that it is true that the market is dependent on normative underpinning (to provide the pre-contractural foundations such as trust, cooperation, and honesty) which all contractural relations require: The more people accept the neoclasical paradigm as a guide for their behavior, the more the ability to sustain a market economy is undermined. This holds for all those who engage in transactions without ever-present inspectors, auditors, lawyers, and police: if they do not limit themselves to legitimate (i.e. normative) means of competition out of internlized values, the system will collapse, because the transaction costs of a fully or even highly “policed” system are prohibitive. This holds even more so for the regulators that every market requires. If those whose duty it is to set and to enforce the rules of the game are out to maximize their own profits, a-la-Public Choice, there is no hope for the system
Amitai Etzioni, The Moral Dimension: Toward a New Economics
http://www.nakedcapitalism.com/2009/06/will-americas-besieged-middle-class.html
Yves: the middle class may "snap" but they won't revolt, won't strike and won't fail to pay their taxes.
Before any revolt/strike/civil disobeience can occur someone has to be in front. Someone has to be willing to die for the cause, lose job/home/savings/everything for the cause and/or go to jail for the cause.
I didn't read any comment that suggested the writer was willing to be in front. Nor has Yves for that matter. I am tired if hearing calls for revolt/strike/civil disobedience from those who are highly unlikely to be in front.
Lots of stories coming up...
FOLKS FINAL COMMENTS:
I scream Mercy my Lord & AMEN ............future??????AMEN
Can you imagine the United States getting in the ring with China for a fictional showdown? Satirically speaking, the American enters the ring with paper stocks, bonds, currency, toxic debt which they cannot collect, and out of control borrowing for which they can never repay, an economy whose industrial production has been gutted and shipped to Asia and who depends totally on its major competitor for its credit and purchase of most goods!!!
On the other side of the ring, the Chinese challenger enters the ring armed with gold, silver, 98% of all rare earths, energy deals with Russia and Venezuela, Iran, acquired natural resources and precious metals from Africa to Canada, all the industrial industry that USA handed to them so they could produce it for us, all of the American money, an economy that is growing at 8% GDP. Does anyone care to take a guess who is going to be calling the shorts at the G20 meeting this weekend?
On a more serious note…….
In this age, the information age, I believe World War III is already underway and is not fought with guns and butter. It’s fought with gold and hard assets and not paper. It is a financial war and the goal of the enemy is to acquire the wealth of and usurp the power of the USA without firing one single shot. While USA has been at the Party the real competition for power and control have been gathering together, forming alliances, and have implemented a plan to systematically dismantle the United States and remove it from the world throne.
In this War, the "no-bullet" war, the removal from the throne cannot be stopped because of the method of extraction. Just like in the movie "2001 - a Space Odyssey" an Astronaut dismantles a super computer that has taken over the spaceship. He simply removes the computers huge memory banks..... one bank at a time until the computer at the end is basically rendered to the capability of a person who has undergone a lobotomy. Once the astronaut gained access to the memory bank, the computer could only stand by and watch the dismantling.
By removing the dollar as the method of payment in the world Oil supply, China and a host of other nations have rendered a blow to this country akin to the memory banks being removed from HAL, the supercomputer we stated about in the last paragraph. The USA can just stand there and watch as the dollars removal of the world currency has begun, and like HAL, it is powerless to stop it.
The end of the dynasty of the 20th century known as the United States is officially over. It is bankrupt. Caput as they say. It is akin to a home owner who has defaulted on his mortgage payment and at this point, has stopped paying but is still living there, pawning off the remainder of his "stuff" before the creditors arrive and take over all the assets and remove him from the premises. At that point, no one gets paid. Not the oil man, not the phone, not the credit card, not the TV, not the car. Nothing. He/she can put it out of their minds for the time being, but the day of reckoning does arrive at some point.
The removal of the US dollar as world reserve currency is underway. China is not as far off as many think to be able to issue bonds that will be backed by the Yuan. When that happens, it'll be like that home run A-Rod hit the other night in the ninth inning (I think it was) against the Phillies in the World Series. Game over.
The real parabolic moves in gold are said to be due to inflation. Did anyone really see prices go down from 1980 to 2000? Yet gold went in a 20 year bear market. Gold goes parabolic when the faith of the government and confidence is lost by the populous which shows up through fiscal irresponsibility. The inflation is the result of that government’s inability to maintain control of all of its paper machinations and the debt machines inherently borrows to the hilt like a college student with 5 or 6 credit cards near an ATM at a package store. My point is that while inflation will come, the current threat of deflation still looms large. Once the college student is denied further credit, the party comes to an end.
Is there any event a demand for US Dollars could occur? Yes. The US DOLLAR has replaced the Yen as the "carry" trade dollar. Should the value of the US Dollar rise against foreign currencies an unwinding of the trade could develop.
Deflation Wins:Fed Attempts to Export Inflation Will Fail
PAPER DOLLARS: Demise Under Way
When you hear about America's exported inflation, be sure you distinguish Manuel Labor from Exxon. Be sure you distinguish paper currency sent abroad from digits held in New York banks. In the first case, inflation is exported, and the result is deflation in America. In the second case, inflation stays at home. So does most of the money. Ownership changes. The money supply rises in the United States when the Federal Reserve buys any asset, but that money is not exported. It just changes hands, which of course are not hands. They are computers.
Digital money is in a computer. It does not matter where the hard drive is located. What matters is who owns the specific digits called dollars or pesos or yen. A change in ownership does not change prices in general. It changes only specific prices due to trade.
Bank-created inflation is not exported. It stays in the trade zone of the nation that creates the money. In today's floating exchange rate system, price inflation in the United States does not affect the price level (a statistical index) in any other country for very long or for very much. Bank-created inflation is not exported. It is merely copied. When foreign prices rise alongside America's rising prices, this is because foreign central banks are matching the monetary policies of the Federal Reserve. Domestic digital inflation is always a domestic bank–inflicted wound. Central banks compete with each other to debauch their domestic currencies. This is not free market competition. It is competitive plunder by government-licensed counterfeiters.
Where's Obama? Preparing his next speech?
No more speeches. No more grand oratory or gibberish about "change". Think: debt relief. Think: targeted stimulus. Think: jobs. And, then, get on with it.
NO JOBS AND NO CREDIT
Consumer credit is shrinking at record pace, $14.8 billion in September alone, 7.2 percent annually. People are paying off balances or writing-down debts. When credit shrivels and wages stagnate, the economy tanks. It doesn't matter how much liquidity the Fed pumps into the stock market, the underlying economy is still contracting. The economy needs stimulus, and lots of it. Anyone can see it.
Consumer prices have been wracked by deflation. The consumer price index (CPI) has declined for six straight months, the longest slide since 1954. And it's getting worse. The banks can't lend because (according to the IMF) they're still buried under $2.8 trillion in rotten mortgage paper. The banks will be treading water for a decade or more. That means tight credit, less demand, fewer jobs, and more misery.
Jobs, wages, and credit; these are the issues, not the fireworks on Wall Street.
THE HOUSING FIASCO
The Fed has shoved $1 trillion under housing and still can't keep the market from teetering. Last week, Fed chair Ben Bernanke announced that the Fed would phase out its purchase of mortgage-backed securities (MBS) and US Treasurys by the end of the 1 Quarter 2010. The Fed will start withdrawing some of the $1 trillion in excess reserves it's added to the banks reserves. Bernanke thinks that private investors are ready to resume purchasing MBS and provide sufficient funding to keep the housing market from crashing. It's a pipedream. Investors got burned big-time on securitzed garbage and they aren't coming back. Here's a clip from McClatchy News:
"The foundation of U.S. credit expansion for the past 20 years is in ruins. Since the 1980s, banks haven’t kept loans on their balance sheets; instead, they sold them into a secondary market, where they were pooled for sale to investors as securities. The process, called securitization, fueled a rapid expansion of credit to consumers and businesses. By passing their loans on to investors, banks were freed to lend more.
Today, securitization is all but dead. Investors have little appetite for risky securities. Few buyers want a security based on pools of mortgages, car loans, student loans and the like. (McClatchy News)
WHO WILL CLOSE THE DEMAND-GAP?
Wall Street is finally beginning to grasp that US consumers are busted and won't be able to provide sufficient demand to grow the economy. That's why policymakers are pushing China and India to "develop their domestic markets" to take up the slack in supply. It's another pipedream. Americans consumed nearly $9 trillion last year while China's consumers gobbled a mere $1.2 trillion and India about $650 billion. No one is going to replace the US consumer. The only way forward is government jobs programs, higher taxes for the rich, and price of living increases for workers across the board. A strong economy requires strong demand, that means aggressive redistribution policies that put more money in the hands of people who will spend it---workers. It's not rocket science.
All the deficit scaremongering is just more right-wing blather aimed at destroying Social Security. It's 100% bunkum. The same gaggle of crackpots who wanted to invade Iraq, now want to take last crust of bread from Grandma's plate. Vile people. The US has the advantage of paying its debts in its own currency. It can print as much money as it wants. And, if it needs to employ its people and put the country back to work, then it should damn-well keep the printing presses running at full-throttle 24-7. Remember, every dollar that goes into a government work program, is one less dollar for the crooksters on Wall Street.
It's not a matter of whether "we can" put the country back to work again or not. It's a matter of whether "we will". Whether Obama will get the guts to ignore his shyster advisors and the big banks and do what's best for the country.
Here's how Franklin D. Roosevelt summed it up 70 years ago:
“Appraising the situation in the bitter dawn of a cold morning after, what do we find? We find two-thirds of American industry concentrated in a few hundred corporations…We find more than half of the savings of the country invested in corporate stocks and bonds, and made the sport of the American stock market. We find fewer than three dozen private banking houses, and stock-selling adjuncts of commercial banks, directing the flow of American capital. In other words, we find concentrated economic power in a few hands…We find a great part of our working population with no chance of earning a living except by grace of this concentrated industrial machine; and we find that millions and millions of Americans are out of work, throwing upon the already burdened Government the necessity of relief…We find the Republican leaders proposing no solution except more debts, more conferences under the same bewildered leadership, more Government money in business but no Government attempt to wrestle with basic problems…I believe that our industrial and economic system is made for individual men and women, and not individual men and women for the benefit of the system.” (quote from Pam Martens, Why 2008 Feels Like 1932, counterpunch)
The economy should serve the people, not the corporations and not Wall Street. For God sakes, Obama, strap on a pair and get to it, you fucking shill.
I rest my case; "WE ARE BANGED < BUSTED AND DOOMED" by Home Grown financial Al Qaeda
Hope some one grows balls to lead the revolt?
300M population and not one person to come forward to lead Revolt?
BAMBOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOZLED GENERATION FOR SURE
AMEN
The largest military budget in the world, almost equal to the military budgets of all other countries combined, is still not as much as Obama's first pork bill.
The depths of Obama's budgetary depravity
When you reach a certain number of zeros, the ability of the public to understand trillions or even billions approaches zero.
So when Obama asked for a pork package in the $700 billion - $800 billion range to "stimulate the economy," Congress and most CNN viewers said, "Sure! Why not! I don't know $700 billion from $700 million. What's a few zeros in a serious recession?"
So what does the $787 billion price tag for Obama's porkulus compare to? How about it's bigger than the entire U.S. defense budget, including two full-scale wars. That's right. Every time you see a gargantuan aircraft carrier, every time you think of the vast expenses of supporting two full-scale wars at once, every time you think of the hundreds of thousands of military families whose livelihoods and health care are provided for by the defense budget, yes, well, Obama's first stimulus package alone was a lot bigger than all of that put together. And since that first package, he's kept piling on the pork, including the latest twenty-something billion for yet another round of Realtor bailouts.
So in the blink of an eye, your children have been sold into an unimaginable amount of debt. But at least we kept unemployment under 8%, huh?
U.S. Real Unemployment Hits Depression Level Numbers of 17.5%
Where's Obama? Preparing his next speech?
No more speeches. No more grand oratory or gibberish about "change". Think: debt relief. Think: targeted stimulus. Think: jobs. And, then, get on with it.
NO JOBS AND NO CREDIT
The largest military budget in the world, almost equal to the military budgets of all other countries combined, is still not as much as Obama's first pork bill.
The depths of Obama's budgetary depravity
When you reach a certain number of zeros, the ability of the public to understand trillions or even billions approaches zero.
So when Obama asked for a pork package in the $700 billion - $800 billion range to "stimulate the economy," Congress and most CNN viewers said, "Sure! Why not! I don't know $700 billion from $700 million. What's a few zeros in a serious recession?"
So what does the $787 billion price tag for Obama's porkulus compare to? How about it's bigger than the entire U.S. defense budget, including two full-scale wars. That's right. Every time you see a gargantuan aircraft carrier, every time you think of the vast expenses of supporting two full-scale wars at once, every time you think of the hundreds of thousands of military families whose livelihoods and health care are provided for by the defense budget, yes, well, Obama's first stimulus package alone was a lot bigger than all of that put together. And since that first package, he's kept piling on the pork, including the latest twenty-something billion for yet another round of Realtor bailouts.
So in the blink of an eye, your children have been sold into an unimaginable amount of debt. But at least we kept unemployment under 8%, huh?
U.S. Real Unemployment Hits Depression Level Numbers of 17.5%
Where's Obama? Preparing his next speech?
No more speeches. No more grand oratory or gibberish about "change". Think: debt relief. Think: targeted stimulus. Think: jobs. And, then, get on with it.
NO JOBS AND NO CREDIT
USA bamboozled generation must prepare for $10 a gallon gasoline......
AMEN