THIS "BAILOUT" IS SICK, STUPID, WRONG, INEPT, CRIMINAL, IDIOTIC! And we still have much more to go according to another tally.
Just ALL stop making payments on your debts… the bastards would be on their knees in days… BEGGING.
Contrary to settled opinion, every problem in the world is not Bush’s fault. For a rebuttal to this notion regarding the current financial crisis, see
http://www.ibdeditorials.com/IBDArticles.aspx?id=312766781716725
and
http://www.ibdeditorials.com/IBDArticles.aspx?id=313027333411197
Chris, I posted your item above on my PO list in Australia. The general concensus was that maybe you were the victim of "an intentional journalistic misperception" of what is at issue. The talk of martial law had
to do with "legislative martial law" within the houses of government, not general societal martial law.
Legislative Martial Law gives special powers to the US Government to
debate and pass laws that have not had as much of a public airing as is
normally required as well as the time for those voting to actually read
the legislation they are voting on. My understanding is that a new
piece of legislation is proposed and the vote comes at least 24 hours
after the initial proposal. under legislative Martial Law the
legislation is proposed, debated and voted on in one sitting.
Legislative Martial law was declared during a sitting at the start of
the financial crisis. I believe that Martial law in the conventional,
troops on the streets, call off the elections, sense of the word was
also threatened. That’s my understanding.
Would anyone care to comment?
Damnthematrix:
You may very well be correct in these assessments, but I think the heart of the matter is that Congress shouldn’t pass any legislation when it’s being threatened with anything from our own Secretary of Treasury. This kind of "decision making" (aka "fear mongering") proved very helpful in getting us into Iraq, bringing us the Patriot Act, and the like.
Besides, the people who are truly good with money are the ones that are able to separate their emotions from the picture. A highly emotional Treasury Secretary and a highly emotional and fearful Congress lack the proper mindset to debate the (let’s just admit it) creation of a Plunder Package.
For your viewing "entertainment"....
Paulson sees larger Fed role 3:39
Treasury Secretary Henry Paulson says additional financial regulation will be necessary to prevent future financial calamity. http://money.cnn.com/video/ft/#/video/fortune/2008/12/01/fortune.paulson.1201.fortune
What Paulson learned 2:38
Fortune's Andy Serwer says the treasury secretary realizes there was not enough 'smart' regulation of financial institutions.
Alex Merk of Merk Investments, LLC wrote a cogent and detailed explanation of the Fed’s policy:
http://www.merkfund.com/merk-perspective/insights/2008-12-02.html
It doesn’t make my day any brighter.
It’s the age old story of our political system: The statists will always say they can solve all of our problems if only we give them more power or money or more ability to regulate, etc.
As Icelanders have recently stormed their own Central Bank, I wonder how much longer it will take before the Sheeple of America realize the fraud that is being wrought upon us.
Doug: It’s a good article you have. I find it poetically just that the Federal Reserve is having great difficulty getting "the system" to work with their present toolbox. Of course more regulation and more drastic actions by them are doomed to fail miserably for the reason that Chris illustrates: the system is based on a continuous expansion of the money supply which assumes never-ending economic growth.
Personally, I would have assumed the system would fail in a hyperinflationary way, and it still might. But at the present time, Ben’s Helicopter is dropping money but no one is picking it up. For a system where money is loaned into existence to work, two parties must be present: the lender and the borrower. I have no doubt that the lender (the FED) will be ever present and aggressive. But thankfully, it seems most Americans are not naive enough to be drawn into more debt at this moment.
The very framework and structure of this whole Ponzi scheme is undergoing a true systemic failure. Most of the banksters and indeed practically all of the politicians do not know how to operate outside of a debt based system. It’s as if gravity has inverted itself on them. The old rules don’t seem to be applying very well.
This is from a documentary call The Corporation. I just viewed this doc a month ago…a well done piece that makes you think.
AjParrillo:
I was wondering which doc that was, I thougt it was outFoxed but wasn’t sure. The corp was indeed eye opening watch
What has been encouraging recently is that research of these issues have been making more and more mainstream appearances (cable networks), except for the "main" mainstream media of course. I only wish the upcoming generation of late teens and early twenties would be more interested in these issues that have profound impacts on their lives…they are most interested in what new gadgets to get (shiny objects) and/or what do I have to know to get by. There is a lack of critical thought being encouraged at all levels of education due to systemic factors…teachers are trapped. The upcoming generations have been reared in the "wealth" of the baby boom generation and are in for quite a shock when everything they know, all the rules and lifestyle, comes crashing down. I never thought I’d feel like such a curmudgeon at such a young age.
I have been in the television business for 16 years and this is what happens. Years ago when there were independent television stations this type of thing rarely happened and if an advertiser would threaten to pull $$ the stations would tell them that would be a part of the story. Now there are literally 5 corporations that own the tv media in our country. That is scary!!
[quote=StudentOfJefferson]
I believe the unions are out of control…[/quote]
Well…this is just a silly statement in the grand scheme of things. You might want to read this article debunking this attitude.
http://www.cbsnews.com/stories/2008/11/24/opinion/main4630103.shtml
A very important point, and thank you bringing it up here. The fact is that much to much focus has been placed on the wage of workers issue versus the real industry issue.
FACT: EVERY auto manufacturer has suffered the same losses in revenue as have the ‘Big Three’. Toyota, Nissan, and Honda have all issued their last quarter reports and the numbers are what they are.
Why then are we even considering any kind of infusion into a select few companies at the detriment of the others, when they all employ American workers? Isn’t this a leadership and Management problem for the industry to correct?
Let’s face it, the government screwed up in the 30’s and helped to not only ensure the depression, but it was the government and its "programs" that made the depression "Great".
I’ve said it here before - invest well in liquor and cigarettes. In bad times there will be sorrow to reflect on, and in good times there will be celebration!
i find it funny that an alien from oz is explaining martial law in the u.s. to folks in the u.s.
thanks for the help.
for a quick run down on martial law check out wiki.
it varies from country to country. i personally have never heard of legislative martial law it would seem to violate our constitution.
I haven’t had a chance to read the rest but before I forget, I want to point out that there were already rumours of martial law coming in in October. I remember seeing this youtube video at the time. I don’t know who these "Democracy Now" people are or what their credibility is so I can’t vouch for it. I just thought it worth pointing out because if it is true then the situation in the US may well be more grave than many are willing to admit.