Archive for October 2010
Debt moratoriums would probably bankrupt the big banks.
Sounds like a plan!
But since the big banks borrow at 0% interest and lend at between 4% and 29% little money would be lost except for their overhead. So we unemploy a few thousand bankers.
Serve them right!
Oh, and widespread debt forgiveness (or inflating away some of the debt) would solve the problem.
But what we actually have is a climate in which it’s considered sensible to demand fiscal austerity from everyone; to reject unconventional monetary policy as unsound; and of course to denounce any help for debtors as morally reprehensible. So we’re in a world in which Very Serious People demand that debtors spend less than their income, but that nobody else spend more than their income.
And the slump goes on.
Let the ex Soviets tell them. You fuck with Western elites they bankrupt you! So stay bought, God damn it. China is where it’s at because the West financed them and shipped our jobs over there.
* China commerce minister says dollar printing hurting China
* Says exporters are prepared for exchange rate changes
* Says export growth next year to be stable, imports to soar
BEIJING, Oct 26 (Reuters) – Dollar issuance by the United States is “out of control”, leading to an inflation assault on China, the Chinese commerce minister said in comments reported on Tuesday.
Chen Deming, speaking at a trade fair in southern China, said that exporters had done a good job of preparing themselves for exchange rate changes as well as rising labour costs, but were suddenly confronted with new challenges.
“Because the United States’ issuance of dollars is out of control and international commodity prices are continuing to rise, China is being attacked by imported inflation
You would think Jerry Brown, “moonbeam”, would be easy to beat. Just remind the Dems that he campaigned for Ralph Nader. Like Michael Moore, Phil Donahue, Susan Sarandon etc. These people gave the election to Bush after they helped the Greens in 2000 fuck over AlGore.
Not to say the Dems aren’t brain dead, O.K.?
Earlier in the new century the states couldn’t tax and spend enough. Now they need the Fed to help them save themselves. Only a moron or politician thinks it makes any difference. At least people will get some new people to bitch about. Might even slow the corruption.
Until next time!
These guys will be at it again. They never learn because the idiots that live here will keep voting for them. Hey got to keep those checks flowing, don’t we?
“We are right now cutting essential services to people that we have always provided historically, but we’re without options. We don’t have any more choices,” she said.
At 8.9 percent, the unemployment rate in Washington is slightly lower than the national average of 9.6 percent, but “is still incredibly high for us,” said Gregoire. She said that unemployment has remained unchanged for months, a source of frustration for the state’s workforce and government officials alike.
“We want to see an uptick,” she said, citing state and local layoffs for negating some modest job gains in the private sector. Washington picked up an estimated 1,000 private-sector jobs in September, but overall payrolls were down 3,200 due to the loss of an estimated 4,200 government jobs.
I’m on my own now as I have all the equipment at the house. Cuts down my visits to the hospital. Surviving a heart attack is a pain in the ass but beats the alternative. Next week I get my new blood work back and we’ll see if there’s any surprises. Of course, I get a stress test to go with it.
The insurance company will be feeling better, anyways.
The gangsters control the scene. Only hand picked candidates get the money. Hey, did you notice old Hilary will be ought of the country for the elections.
That will teach the turncoats do come back and beg for help next time. LOL
Did you know that in the aftermath of the Savings and Loan (Thrifts) scandal there were more than a thousand felony convictions of financial elites? The cost of the wrongdoing associated with the rip-off and closure of nearly 800 Thrifts cost taxpayers more than $160 billion. The current sub-prime/mortgage-backed security scandal is 40 times bigger according to Economics professor William Black. That means the size of the crime is $6.4 trillion by my calculation. Can you guess how many indictments there have been on financial elites who created this enormous mess? Zero, none, nada, zip. Yes, not one single prosecution or conviction has been started of achieved.
Since no one was imprisoned the swindle will continue. Why not? The big banks and their buddies have bought plenty of politicians world wide and continue to do so.
Do you really think the Repubs are going to do any better. Why would they? After all, there’s not a whole lot of money coming from broke dicks for political reform. We must remember that it takes millions to win a Senate seat. And usually a million or so for a house seat in many states. Let alone a hundred million for a presidency.
In politics it’s all about the money. And who has money? Yep. Not exactly rocket science. Money talks and bullshit walks. So we won’t get any relief there. Much better to prepare for the next few years as all the money is repatriated from overseas after the Repubs join hands with Oba mama and pass new tax breaks for their corporate masters.
Then the boom is on. Even though the working man wont see much of it.
We don’t have the money to buy access! So vote your ass off and suffer.
America is quite literally for sale, at rock-bottom prices, and the buyers increasingly are the very people who scored big in the oil bubble. Thanks to Goldman Sachs and Morgan Stanley and the other investment banks that artificially jacked up the price of gasoline over the course of the last decade, Americans delivered a lot of their excess cash into the coffers of sovereign wealth funds like the Qatar Investment Authority, the Libyan Investment Authority, Saudi Arabia’s SAMA Foreign Holdings, and the UAE’s Abu Dhabi Investment Authority.
Here’s yet another diabolic cycle for ordinary Americans, engineered by the grifter class. A Pennsylvanian like Robert Lukens sees his business decline thanks to soaring oil prices that have been jacked up by a handful of banks that paid off a few politicians to hand them the right to manipulate the market. Lukens has no say in this; he pays what he has to pay. Some of that money of his goes into the pockets of the banks that disenfranchise him politically, and the rest of it goes increasingly into the pockets of Middle Eastern oil companies. And since he’s making less money now, Lukens is paying less in taxes to the state of Pennsylvania, leaving the state in a budget shortfall. Next thing you know, Governor Ed Rendell is traveling to the Middle East, trying to sell the Pennsylvania Turnpike to the same oil states who’ve been pocketing Bob Lukens’s gas dollars. It’s an almost frictionless machine for stripping wealth out of the heart of the country, one that perfectly encapsulates where we are as a nation.
Have a great weekend,