The Anti-Free-Market Federal Reserve
I believe in democracy, freedom, capitalism, and a free market. Why does the Federal Reserve keep insisting that it knows better by implementing anti-capitalistic plans and perpetually fucking around with the market? Please let the market operate! Let it go! Prices are what they should be! That's the definition of a free market! When they manipulate the market it's no longer free.
This includes the proprietary trading systems at investment banks. If the bank can invest its own money, it can influence the market in any way it sees fit. Want to tell politicians that a particular law or not passing a particular law would cause the market to drop (or rise)? They can trigger it. This is called Terrorism, and it was used to pass the bank bailout bill in late 2008. Investment banks investing their own money is a conflict of interest to democracy, their own clients, and the interests of the economy.
@ 9:10
The FBI should be investigating that act of Terrorism by the banks and Federal Reserve System. Even if the people didn't know (and thus weren't afraid), the politicians were threatened directly to pass the bailout bill. Influencing law is exactly what terrorism is designed to do... at it seemed to work, unfortunately.
Official says Fed might buy more mortgage-backed securities
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews.
The Fed is buying $1.25 trillion in mortgage-backed securities in its effort to prop up the economy but has said it will end those purchases March 31.
They need to stop manipulating the market immediately.
This manipulation introduces distortion in the market. That distortion is not singular. It ripples out through the economy. These ripples required more fixes and those even more until it's the Katrina Hurricane of the financial market.
In order to force the market to be focused on people, this bailout money would have been better placed into the hands of the people. At least the distortion would have been citizen oriented instead of banker bonus oriented. Then again, it's corporate America that gives politicians the money to convince us to vote for them; so it's not too surprising that this didn't happen.
In all, there should have been no bailouts. Failure for companies that are too weak. Success for those that could fill their place. Would there have been pain? Yes. But, that short term pain is much smaller than the long term pain we are now in for now.
Why the Euro is important
Moving debt around isn't going to ultimately solve the problem... The problem is that Money is Debt.
The Greatest Recession
I pulled this image from the National Inflation Association- Charts
This is a wild chart. I super imposed my best guestimate fitting curve. As you can see, i tried to be conservative and deal with the bumps along the way. It's most certainly not perfect but it will do to demonstrate the ideas.
That red area is the area of the recession. There are a few notable things about this chart. The decline we've had in the recreated M3 over the last year has never happened in the last 40 years. Given the charts I've seen, this has never happened in the last century.
In order to be as prosperous as we were before the recession we need about $2.5 trillion more dollars in the system RIGHT NOW. Not some bailout for the banks or tax refund bull crap. The banks need to be loaning that amount within the next few months for us to really recover the way economists (at least were) talking about.
The dollars where the green line ends and the black line hitting 2010, is about $13.7 and $16.2 trillion dollars. The difference is about $2.5 trillion.
This is about the same amount the government has spent in budget deficits over the last 2 years. This is significant because as you can see that $2.5 trillion didn't move us up to where we "should" be. It shows either 1) just how ineffective government spending is in replacing economic output; or 2) The recreated M3 would be at $11.2 trillion if we are to believe that government spending was 100% effective at producing economic growth. I'd like to thank both the Federal Government and the banking industry for this monster.
My sense is that excessive government spending doesn't produce real sustainable economic growth. This includes the huge budget for the military. Funding technology in the military is important but only when it has real civilian use. Research, yada, yada. Agreed. Though it most certainly could and probably should be sliced in half if not more. That would be value being directly injected into the economy through lower inflation and lower taxes in the long run. This is getting at least closer to a more sustainable future.
By January 2011, this estimate shows the M3 needing to be ~$18 trillion. Obama just submitted his budget. It's enormous. The deficit is estimated to be $1.6 trillion. $18 trillion minus $16.2 is $1.8 trillion. That's damn close.... and that won't do a damn thing except cause more inflation. They need to get that value some how. (Stealing it from you is socially acceptable, no?)
Our single party system, the Corporate Republicrats, have no idea what they are doing to secure America. Removing our freedoms "for security" is giving the terrorists exactly what they want. As soon as we started the wars in Iraq and Afghanistan the "enemy" shipped out. Better to live to fight another day. The got us bogged down and now have the Military Industrial Complex stuck in a growing feedback loop which is sucking down our national value. More military is not the correct answer... A smarter, leaner, more efficient, and productive military is. Until our "leaders" realize that terrorism is the application of "We will fight them there so we don't have to fight them here" we won't get anywhere and we won't be all that much more secure either. If they take a page from our playbook, which a smart terrorist would do, they will attack US HERE... not our military there. The former is much scarier. Duh. I'm not going to get into how terrorism is likely a false flag operation especially given all the shady circumstances.
Obama! Yo! Fix it! Also, can we put Bush on trial as a War Criminal? Congress didn't even declare war. They put a face on terrorism and then funded its destruction without actually consenting to explicitly to kill it. Then the Republicans declare the Democrats as being soft? That's a load of bull crap. If you want something to happen, do it the way the Constitution defines it be done. It's not legitimate if you don't. You can't make claims that anybody is "soft on terror" because they believe in the constitution. In fact, making these claim only makes you "soft on democracy."
Ah yes, how is this for communist/facsist?
If you don't follow the corporate party line (on either side), you are ostracized and made not important by the corporate mega-phone media.
Wait a minute... Isn't this reminiscent of Communist Russia?
Bankrupt Bogus Bonuses
This holds for Goldman Sacks too... they are giving out $150 billion of OUR MONEY to each other. Just remember when you do your taxes for last year that at least $500 of that is paying for Goldman Sacks bonuses. Just their bonuses!
Why aren't these people in jail?
How the banks make the big bucks (by taking it from you)
Does Obama know this is going on? If he does, why doesn't he stop it?
Obama is a really smart guy. How could he not know this is going on?
Two things:
1- if he doesn't know, then he's incompetent.
2- if he does know and isn't doing anything about it, he's implicitly authorizing theft of government coffers at a biblical scale.
Lastly, why isn't the FBI investigating this kind of fraud?
Elizabeth Warren On The Daily Show: If We Don’t Act ‘The Game Really Is Over’
| The Daily Show With Jon Stewart | Mon - Thurs 11p / 10c | |||
| Elizabeth Warren | ||||
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I've always liked Elizabeth Warren because she is right.
Just as I posted earlier, people are waking up to the fact that politics is theatre and that politicians do not represent us (at least most of them). It's angering but it's important to get a third party or more going in America.
My solution to making third parties real is laws stating that all elections are to be instant run-off. Instead of voting for one candidate, you prioritize them. If the one you chose first doesn't have enough votes your next in line is thus counted as your choice. So, you could have voted in the last Presidential Election like this
- Ron Paul
- Cynthia McKinney
- Ralph Nader
- Dennis Kucinich
- Barack Obama
How sweet would that be? If none of your other choices had a chance, you still could have helped to defend against McCain (or visa versa). You could actually vote based on your principles instead of the lesser of two evils. If course it must be said that our political party election system is more like voting for the one evil as they really are the same party with different faces. I ask you, what would McCain have done substantially different from Obama? And how is Obama any different than Bush?
Morning Meeting: Nailing the Loopholes in Derivative Reform
Visit msnbc.com for breaking news, world news, and news about the economy
Detroit, Criminalizing Poverty, and our Sad State of Affairs
If you thought this was bad:
SLUMS OF DETROIT: A LOOK AT THE HEART OF AMERICA’S 2ND MOST DESERTED CITY
Then check out this:
Criminalizing Poverty For Profit: Local Government's New Debtors Prisons
In other words, we are starting to lock away by criminalizing their situation. The Nazi's locked away Jewish people. This time it's going to be the poor. I'm not saying that being in poverty means you can do anything against the law but many of the laws we have here in the United States are aimed at a thriving economy with a solid middle class. This balance is starting to change. Our society is starting to reduce away from such standard. We don't have the money to criminalize petty actions any more. Locking these people away is costing much more than the value they add to the society by being free, abet irresponsible.
The banks and government are making us poor through inflation (and bail-outs). They continue to suck out our wealth to fund impossible ideals whether through taxes or inflation, they are the same. We need to stop this idea that both parties have of big government whether for the people or the corporations. Big is just not possible right now. Not with the Federal Reserve and Banking system stealing the wealth of the citizens by inflation and bailouts. We cannot afford to keep this up. Not with us, nor on the international scene.
This is some serious shit people. Every day America is looking more like Collapsing Fascist State: from the corporate control that we can CLEARLY see in the Health System Reform Bill changes, to criminalizing the poor, to perpetual war started on false pretenses, to the over-funding of the military industrial complex, to collapsing states, the commitment and preferential treatment for corporation and especially banks.
This whole system stinks. It smells to high hell of control, rigging, "cronyism," trickle up economics, and, well, fascism. Even the markets seem (in a few cases, are known) to be rigged.
The banking crisis: Till debt us do part
Some governments are borrowing so much that markets are becoming wary and may stop lending to them. Could this be the next leg of the crisis?
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The big fear is that, if economies such as America and Britain were downgraded by the agencies and their borrowing costs rose, the effect would be felt throughout the credit markets, making it more expensive for businesses and emerging-market economies to borrow. It could set back the global economic recovery.It is not all one-way traffic. Some economies in Asia and Latin America have received upgrades or are about to get them. So far, however, they are outnumbered by countries facing downgrades.
If we get down graded, will the Chinese stop taking our fake dollars? What will happen to 95% of all products in Walmart?
Is Sovereign Debt the New Subprime?
To varying degrees, Greece, Spain, Ukraine, Austria, Latvia, Mexico are just a handful of the nations viewed at risk of defaulting. Meanwhile, Dubai only just avoided a similar fate thanks to a $10 billion bailout from their oil-rich neighbor Abu Dhabi.
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Few investors seriously worry about an imminent default by the U.S. or the U.K. But with worries about Dubai's ability to pay its debts shaking markets across the globe in recent weeks, investors are on guard about which other countries might be in dire financial straights.
Who ever wrote this article was a moron. What happens in the future when the U.S or U.K. are imminently going to default? It may not be soon but we have $50-$60 Trillion in obligations coming due and that money isn't going to be from taxes or foreign governments or banks. The U.S. is too big to fail... This time we don't have anyone to bail us out.
Recent World Events Indicate Impending Market Chaos
Recent World Events Indicate Impending Market Chaos
For the past couple years we have been covering every nuance of the economic collapse and in almost every instance we have come to the conclusion that 2010 would be the year that the U.S. would see an incredible downturn, possibly resulting in the inflationary disintegration of the Dollar, and a major stock market revolt which would destroy any remaining illusion Americans still have that a recovery is in progress:
http://neithercorp.us/npress/?p=74
http://neithercorp.us/npress/?p=167
We are now on the edge of winter 2009, and recent events across the globe indicate more and more that our predictions for 2010 were correct. Let’s examine some of those events and their implications now…
Dubai: Why Should We Care?
Chinese Banks Frantically Try To Raise Capital?
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Either way, as soon as the Chinese begin pulling capital out of U.S. markets (in which they are heavily invested) we can expect to see the DOW falter drastically.
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Trouble Brewing In Japan
Gold Buying Bonanza By Foreign Central Banks
Bad Signs On The Homefront
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REAL unemployment... is around 18%.
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Real Estate continues to be incredibly weak, and mortgage payment delinquencies and bankruptcy have grown unabated
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Over 125 banks across the country have been closed in 2009.
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The FDIC has announced that it has officially run out of funds
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A climactic economic event is on the horizon, and the train is already in motion.
This article has some good info in it. For more information, go deeper.