W
Whats really amazing about the recent taxpayer bailout of Wall Street investors: all the huffing and puffing over the subsidies for CEO's- the so called golden parachute concerns-failed. The law passed on Friday only trimmed the sails, so to speak, of five chief executives, and gave Paulson and crew oversight over the other bumbling bosses- Paulson gets to decide if the retiring parachute is golden, platinum, or silver (section 111 of the bailout bill).
This debate over retirement plans for undeserving fat cats was only a diversion or decoy- it made good copy, while the real crime- the bulk of the bailout- was not as much discussed as it should have been. The money does not exist- Congress will simply present the NY treasury bank with a bond, and NY will go overseas to raise the capital. WE are stuck with the bill, plus interest; we become more of a slave to foreigners, the dollar weakens, inflation goes up, and another massive bailout is already in the planning stages. Throwing illusory money at the problem cannot work- the economy needs to be rebuilt from the ground up.
Rep. Ron Paul predicted in 2003 that taxpayers eventually would have to save the sorry ass speculators.
The recent bailout contained no measures to criminally charge guilty speculators-way to go Obama, McCain, Pelosi, Bernacke, et al !
Update: Bush signed the bailout bill on Friday... ever since, the markets have fallen ( about a 680 point loss today, Thursday the 9th of October).
If the US economy sinks much lower, the new "Greater Depression" will begin with martial law- A FEMA document is circulating among key Congressional leaders as I write- (the "C&R" report-"C" stands for conflict, "R" stands for revolution) ; Special military forces from overseas are being shipped back stateside... Various scenarios are being planned for- rioters outside depleted banks...rioters on campuses after a disputed Presidential election result...
If the US defaults on its debts to China and Japan, and cancels them, this could risk war, and/or massive tax hikes on citizens to help pay-off debts; which will almost certainly trigger a revolution.
Next year, most of us will have to choose sides.
The Multinationals need an international regulatory agency, staffed by average honest citizens who possess legal authority to bring the crook in the docket.
Why did Greenspan double the amount of money in the system over a 15 years period?
I don't understand why so many Tory Republicans/(authoritarian) conservatives adore Ronald Reagan. He gave us Iran-Contra, attacks upon tiny defenseless nations, amnesty for illegals, a zero increase for the minimum wage in eight years, and most importantly, Reagan gave us George Bush Sr. ( and the S&L debacle) ... Senior led to Junior, the current cheese-ball in charge.
Reagan essentially gave the US George W. Bush.
This debate over retirement plans for undeserving fat cats was only a diversion or decoy- it made good copy, while the real crime- the bulk of the bailout- was not as much discussed as it should have been. The money does not exist- Congress will simply present the NY treasury bank with a bond, and NY will go overseas to raise the capital. WE are stuck with the bill, plus interest; we become more of a slave to foreigners, the dollar weakens, inflation goes up, and another massive bailout is already in the planning stages. Throwing illusory money at the problem cannot work- the economy needs to be rebuilt from the ground up.
Rep. Ron Paul predicted in 2003 that taxpayers eventually would have to save the sorry ass speculators.
The recent bailout contained no measures to criminally charge guilty speculators-way to go Obama, McCain, Pelosi, Bernacke, et al !
Update: Bush signed the bailout bill on Friday... ever since, the markets have fallen ( about a 680 point loss today, Thursday the 9th of October).
If the US economy sinks much lower, the new "Greater Depression" will begin with martial law- A FEMA document is circulating among key Congressional leaders as I write- (the "C&R" report-"C" stands for conflict, "R" stands for revolution) ; Special military forces from overseas are being shipped back stateside... Various scenarios are being planned for- rioters outside depleted banks...rioters on campuses after a disputed Presidential election result...
If the US defaults on its debts to China and Japan, and cancels them, this could risk war, and/or massive tax hikes on citizens to help pay-off debts; which will almost certainly trigger a revolution.
Next year, most of us will have to choose sides.
The Multinationals need an international regulatory agency, staffed by average honest citizens who possess legal authority to bring the crook in the docket.
Why did Greenspan double the amount of money in the system over a 15 years period?
I don't understand why so many Tory Republicans/(authoritarian) conservatives adore Ronald Reagan. He gave us Iran-Contra, attacks upon tiny defenseless nations, amnesty for illegals, a zero increase for the minimum wage in eight years, and most importantly, Reagan gave us George Bush Sr. ( and the S&L debacle) ... Senior led to Junior, the current cheese-ball in charge.
Reagan essentially gave the US George W. Bush.
posted by Zero at 11:02 AM
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