Life in the Empire
The Collapse
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Permalink Reply by BO on
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Pretty damn funny until he slipped-in the Iraq soldiers deaths.
Next step--overlap a few of those and call it a fugue for the depression in a minor.
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Permalink Reply by pan on
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Follow the Money
One reason things didn’t fall apart when Congress didn’t immediately act as Paulson and Bernanke demanded, may be that there wasn’t any danger of a meltdown in the first place. So say three senior economists working at the Federal Reserve Bank of Minneapolis, who in October examined the Fed’s own data, and concluded in an article titled Facts and Myths About the Financial Crisis of 2008 that the claims that interbank lending and commercial lending had seized up were simply not true.
“This was a lot like the run-up to the Iraq invasion in 2003,” says Charri. “You had people in government saying: `We’re smart guys, trust us.’ But they were either wrong or they were lying.”
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Permalink Reply by littleoldme on
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It makes you wonder how these people are still walking around alive.
I mean if a postal worker will walk into the post office and blow away 40 people cause the boss pissed him off, how the hell have these guys managed to escape the same fate.
After all they CAUSED this mess and are fucking rolling in the dough, while the people who worked for them got, and are getting, the royal shaft.
Not to mention Joe crazy, on the street, who's pissed his tax dollars are being given to the bastards so they can give themselves more bonuses, while he's working his ass off, flippin' burgers for $6.55 an hour. Why haven't they put a cap in one of these guys?
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$550 billion run on American banks
from whatreallyhappened
At 2:20 the big ugly secret comes out. Within an hour, some $550 billion was electronically withdrawn from the money market accounts. The claim is that had the government not blocked further withdrawals and stared poffering guarantees, the US and World economies would have been collapsed.
Maybe.
Obviously there are theories all around as to what happened, and mine is very simple.
Wall Street knew they were in trouble. The American people were no longer asking for new loans that could create new money that would be used to pay the interest on old loans. Collapse was imminent, and worse, the American people rightly blamed the financial shysters for their poverty. People were starting to sue the mortgage lenders and the mortgage-back securities fraudsters.
So the investment banks and brokerages and loan companies pulled off a scam. Working through overseas "cut-outs" they yanked $500 billion dollars to put a scare into the US Government, then turned around and warned that if the bailout was not passed, they would collapse the US economy itself and shift the blame onto the government.
This theory explains the absolute total panic we saw in Congress as they ramrodded through the first bailout despite overwhelming taxpayer opposition.
And the problem is that is this theory is correct, and the Wall Street "Bernies" are blackmailing the US Government with their own financial doomsday weapon, then the bailouts will continue, as blackmailers never stop on their own.
This may be why, even as Congress passes this most recent bailout, word is already coming from the White House that yet another trillion and a half bailout is already being planned.
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Homeowners' rallying cry: Produce the note
This strategy wouldn't work for me because the credit union can't sell my loan unless I approve it. Hopefully I won't get into that situation....
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Permalink Reply by Mouse on
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Nathan Mayer Rothschild said "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain's money supply controls the British Empire, and I control the British money supply."
How interesting that the present Mr Rothschild is a very close adviser to Gordon Brown.
When the Bank of England was given independence in 1998, private bankers were not only given full control of Britain's money supply, they were given control of monetary policy as well. And because private bankers are in control, those same private bankers who would lose the most if any real solution to our financial and economic woes were to be put in place, they permit the government only one option.
You can read it all online as a pdf file. Home page The UK Column.
Some say it's going to be much worse here in the UK than in the USA. We have been more thoroughly betrayed.
Banks are destroying small and medium businesses all over the country, charging higher rates and calling in loans. Meanwhile big businesses have simply extended the time they take to pay their smaller suppliers, thus removing their cash flow.
Despite the awful mess, in my part of the country, the south east, most people are still fast asleep.
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I'm sure you've seen this already...
'Summer of Rage' predicted in England as recession (depression) worsens.
Who knows? Not seeing much rage over here in the US yet. But then, USAn's seem to be totally oblivious to everything outside of sports and fashion.
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Permalink Reply by curt on
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The UK just may see a summer of rage. Europe may see a bit more rage than usual, this summer. Perhaps. But the USA, I predict will be facing a summer of yawners.
The man who "predicted" the "summer of rage" was more likely only playing a card to get more funding for the local police force. That's how I see it.
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