Al-USA

Did We Nationalize Banks, Or Did They Nationalize Us?

redwine44 wrote:
"
My favorite snippet from the testimony was when Paulson was accused of selling his GS stock when entering govt. service and deferring paying any income or cap gain tax on the gains. Well, did Paulson write the tax law, or did the Congress?
"

Redwine44 writes the above in the comment section of an article written by the same author who also wrote, "The Silent Coup", in the Atlantic, a few months back...

If he had read, "The Silent Coup", redwine44 would see the inappropriateness of such a comment.

More information below:
Banks Counted on Looting America’s Coffers
tinyurl.com/bkezmt

The Quiet Coup by Simon Johnson
www.theatlantic.com/do...

"The Fed's War on the Middle Class"
mises.org/story/2983

The Truth About Unemployment Numbers

Excellent article Mr. Goodman. Keep up the good reporting. My own economic model forecasts the floor dropping out of the economy, again, during first or second quarter 2010. If such happens, there will be no doubt that the Greater Depression will have arrived. Prepare yourself as best you are able.

On the "bright" side, even during the 1930's Great Depression there were many substantial Bear rallies of +20% or more, so, at least for the nimble, and with sad irony, I believe there will be some very good times to make very good money. Good luck to all.

For Bankers, Another Stress Test

Somebody has to say it, but the American Oligarchy makes the Soviet Politburo look almost amateurish...

We know what happened to the Soviets, it's only a matter of time before this Oligarchy meets a similar fate. The only question is, what will happen to democratic capitalism? Just a thought.

Good article, as usual.

Credit Default Swaps May Be Playing a Supporting Role in Chrysler Bankruptcy Filings

I agree, the use of Barry O to refer to President Obama is disgraceful. I don't like President Obama, and of course I didn't vote for him, and I am very much against his support of the $trillions in Wall Street bailouts but, at the end of the day, he is President Obama of the United States of America, and, as such, deserves to be respectfully addressed; in print or otherwise.

By the way, I also did not like President Bush, but would think the same of him or any other President of the, as yet, greatest civilization in the history of the planet...

5 Perverse Bailout Consequences

Crony capitalism is incompatible with liberty and democracy; the solution is to let the failed capitalists get purged out of the system, period.

Why It's Better to Bail Out Borrowers than Banks

Good article.

I was in favor of bailing out the borrowers from the beginning rather than the banks, directly.

However, the politicians will only act on legislation that is written for them by the powerful bank lobbyists so of course the American working/middle class was left to fend for itself with the resulting downward spiral in the destruction of demand that followed and is continuing even now.

In a nutshell, we got exactly the result from the best system of democracy that money can buy...

More information below:
Banks Counted on Looting America’s Coffers
tinyurl.com/bkezmt

The Quiet (American) Coup
www.theatlantic.com/do...

Obama’s Ersatz Capitalism
www.nytimes.com/2009/0...

Bill Black on 'Top Elites': All Are Presently Committing 'Fraud'
seekingalpha.com/artic...

"Destruction of Demand"
seekingalpha.com/artic...
littlurl.com/b8z3e

"Recent Policy Decisions and a Greater Depression"
seekingalpha.com/artic...
littlurl.com/2it28

"The Fed's War on the Middle Class"
mises.org/story/2983

"How to Avoid Another Depression"
mises.org/story/3103

Added Debt Won't Rescue the Great American Ponzi Scheme

Good article, I was going to say more, but enough has already been said above.

We Need to Break the Banks

"
I will also say that as far as I am concerned that every reason I voted for Obama has been proven not to be justified by the current crisis. That being said I didn't say I love the republicans either, I am just saying he has failed my test with this current episode. Time for a third party.
"

Indeed, it should be increasingly clear to most people, who care, that both Republicans and Democrats are merely the right wings of one party, the Capitalist Elite party; or the party of the rich and politically connected, if you will.

For the sake of the long term future of capitalism, the ruling class should indeed break up the banks, but, they are now so corrupt and secured in their power that, it seems to me, it will be up to the rising masses of the proletariat which will eventually do this work for them. That of course will also be the end of this ruling class as well as capitalism.

Banks Counted on Looting America’s Coffers
tinyurl.com/bkezmt
www.nytimes.com/2009/0...

"Fluke? Credit crisis was a heist"
tinyurl.com/cgugqm
articles.moneycentral....

"Following the A.I.G. Money"
tinyurl.com/d6xkbk
www.nytimes.com/2009/0...

"Economic Fascism and the Bailout Economy"
mises.org/story/3333

"Behind the Financial Market Crisis?"
mises.org/story/3111

Void Payout to Non-Debt Holders of CDSs

Excellent articla and a clear illustration of the decaying political establishment in Washington.

Financials Watch: AIG Brouhaha Distracts from Other Improprieties

Good article.

So much for the "free" markets. And so much for capitalism...

The AIG Bailout: Why Was the Onus Placed on Taxpayers?

Regarding why USA taxpayers have to bail-out the part of the ruling class that got in over their "heads", well, that was the plan of the ruling class all along: to privatize profits and socialize losses onto the backs of every other class below them, but especially the working/middle classes.

You think that is conspiracy theory? No, it is better than theory, it is conspiracy FACT.

See article below:
"Banks Counted on Looting America’s Coffers"
tinyurl.com/bkezmt
or
www.nytimes.com/2009/0...



Nuh-huh:

"Second, the citizens of this country ultimately run this country - it's called a democracy - and for the last 8+ years we did a pretty crappy job of it.
"

The government is run by 17,000 lobbyists Nuh-huh; in the employ of the rich plue influential who also happen to run Americas major corporations. As such, if you think the people have more say than the 14,000 lobbyists, then you also believe the Bernanke/Paulson $700 billion bail-out was passed b/c of the wished of the people and you might also then even consider Venezuelan President Hugo Chavez to be capitalist in temporary disguise as a socialist...

Ben Graham Had It Right

We are going through a crisis of capitalism. It has always been the case, and it always will be the case, until capitalism self-destructs. I recommend reading outside of the capitalist economic model.

Visceral Loathing for AIG's Failures

This has the potential to bring down the Republic, in the worst case. So, in that light, it is appropriate.

Apocalypse Dow: The Search for Scapegoats

Nobody living through this will buy your spin of events. Try again in 20 or so years, when a new generation is around who has not experienced it first hand. I say round them up in "chains".