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Leftfield

Leftfield
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  • Did We Nationalize Banks, Or Did They Nationalize Us? [View article]
    Somehow I would believe Hanky's act more if it didn't involve the largest heist in history and saving his colleagues at our expense. Swindling the taxpayers out of nearly $1trillion in about a week, saying haste was essential, giving limitless powers and immunity to himself, don't ask questions, is too self-serving to pass as stupidity. Congress will plead the same if(!) they are actually asked hard questions at election time. Mainstream media will probably ask about favorite sports teams and the weather, though.
    Jul 17 05:50 PM | 6 Likes Like |Link to Comment
  • GE Results Validate Theory: Severe Economic Contraction [View article]
    I'm still trying to understand what the desired "recovery" DC is counting on would look like. It would have all the bloated government entities, Wall St., Detroit and other TBTF entities supposedly afloat leaving taxpayers holding the multi-$trillion bag and endless "service" jobs sans manufacturing preserved in an economy where you can't get service.
    In my non-favored self-employment I've only seen skyrocketing taxes, costs, rules and regulations and diminishing returns to my labor relative to the increasing burdens. We've financed the burdens of misallocation and either the bet "pays off" in a long shot that gives us more of the same gradual decline, or we fall into an abyss that requires a true reality check by Americans or lose our remaining freedom in bondage to the fascist state.
    Jul 17 02:00 PM | 15 Likes Like |Link to Comment
  • America's Sick Part II, A Solution To Obama's Purely Political Policies [View instapost]
    Good stuff. I would possibly take some exception to your description of preventative care as mostly waste. And while I think your description of handling preexisting conditions makes sense, there needs to be responsibility on the parts of the most obese, self-abusive overeaters of junk ever seen.
    Of course, our leaders propose ridiculous solutions to everything and preventive plans are no doubt stupidly conceived and carried out, as your description shows.
    The only other businesses so screwed up in America as health care are legal and financial. All three involve megabucks and hence receive inordinate amounts of lobbying and payoffs to achieve the worst results for average Americans. The common denominator is government and without incentivizing them with frequent castings out of office, they will continue to deliver the usual and worse, crap to average Americans.
    Jul 17 01:15 PM | Likes Like |Link to Comment
  • Short the U.S.A. [View article]
    I think the magic wand DC has been able to wave for so long to create programs and unfunded liabilities is soon to turn the other way. It seems to me there is no way that DC will not be seen as the money-sucking vampire it is as the world flees the dollar standard. We lost the cover of ballooning debt as individuals to mask declining living standards which must ultimately be paid via the creation of services and goods (value).
    Like Detroit, each fig leaf falls. Now only our collective balance sheet, tattered beyond historical comparison, lies between us and reckoning with reality. DC may plan to use force on citizens as their obscene seizure of wealth to pay the biggest cronies at our expense has enlightened many. They may plan to use our $1trillion/year military we can't afford before it rusts or is forced to shrink, on the world.
    I don't see how Washington can appear as anything but the enormous drain on the rest of us which they are and which must be brought down to Constitutional size. They will not see it this way. I hope against all evidence so far that enough of us see this soon.
    Jul 17 12:39 PM | 20 Likes Like |Link to Comment
  • In Support of Goldman Sachs [View article]
    I agree that GS is gaming a system that is allowed and encouraged by their incestuous relationship with our bloated, intrusive, utterly corrupt government. Pure cronyism.
    There was a time when real problem-solvers from industry took temporary positions in government. Industry making real products was the driver. Now it's revolving doors in an economy that's become a complete house of mirrors by financiers, lawyers and bureaucrats. What has government done to solve this? LOL.
    Voters have long settled for crumbs, leaders long ago sold out and Constitutional principles are now window dressing. I agree that big government is the biggest problem here.
    Jul 16 10:48 AM | 4 Likes Like |Link to Comment
  • Credit-Risk Spike Means Continued Collapse for the U.S. Economy [View article]
    Non-reporting of inflation went on for years as it was said condescendingly that commodities and manufacturing were less of the oh-so-modern economy now.
    Now only making things could pull us out. We've already shot our balance sheet, mostly during "boomtimes." If our leaders have a plan that even they think works it must include marginalizing average Americans even more. It's working; voters always return the usual suspects to office so far.
    Jul 15 12:19 PM | Likes Like |Link to Comment
  • Among possible ideas to help struggling homeowners, Obama is considering a plan that would let homeowners behind on payments avoid eviction by renting their homes instead.  [View news story]
    As government workers are conceivably less secure than they've been I've been contemplating what they've contributed to my life. Doubling, tripling and quadrupling public utilities and real estate taxes in 1-2 decades. While making tenant protection so excessive that people who should be in jail have far more rights than I.
    There has been a Grand Canyon of disconnect between the rule-makers and the private economy they've been trashing. Now finally it's breaking down. All they can think of is adding burdens. I don't see how it plays out well unless they finally suffer the consequences of their stupidities. Or we go into complete fascism/socialism.
    Jul 15 11:32 AM | 1 Like Like |Link to Comment
  • Eliot Spitzer on Goldman Sachs and Matt Taibbi [View article]
    Geithner on CNN Sunday made it sound only right that average Americans support Wall St.
    We're hearing the biggest load of crap from the most overpaid leadership in history while even they probably can't believe their success in the largest heist ever.
    Spitzer is the clearest political voice I've heard besides Ron Paul and it's increasingly evident to most of us why he was taken down when he was and what a loss it is to hardworking Americans.
    Shame, anyone up (down) there?
    Jul 15 11:14 AM | 12 Likes Like |Link to Comment
  • The Obscenity of Bailouts on Full Display [View article]
    The hope one might have had after the TARP disgrace that a new administration might target ordinary struggling people is long dashed. Along with any thought the powers that be will use what's left of the dollar and public balance sheet effectively.
    While real jobs fled, government and Wall St. grew and average incomes shrank under cover of exploding indebtedness, the powers that be learned their craft well. They bought up the media and continue to successfully swindle and spin.
    If the voters keep settling for false promises of crumbs instead of a real house-cleaning, the looming debacle will include irreversible changes to enthrone these parasites forever.
    Jul 14 12:13 PM | 3 Likes Like |Link to Comment
  • China at the G8 (Or, What Happens When Your Banker Says No) [View article]
    What a shame Washington has so much power. Their subjects (us) are stuck with the most arrogant hypocrites I know of, along with their cronies, Wall St.
    But, watch Obama bow before the Saudi prince and tell Russia while traveling there that "we have can have no defense against a mighty armada of missiles" like theirs. Perhaps true, but the cravenness of Obama before power is noticeably disgusting when compared with the contempt he has for any citizens with two brain cells to rub together.
    Washington and the political elites in our country are so detached from the real world that the world is frantically detaching with them as fast and as much as possible. When the pain of continuing along the same path is greater than change, change comes. Our elites make Mari Antoinette look practical. They have parasitically perpetuated themselves to the point of bankrupting the most successful nation ever devised and now destroying our overseas credibility as completely. Those that can separate are the most fortunate now.
    Jul 14 07:59 AM | 2 Likes Like |Link to Comment
  • Washington's Dilemma: This Isn't a Recession, It's a Collapse [View article]
    Collapse. That does say it. It certainly shows in the figures government can't mark to magic like tax receipts. This is a collapse.
    Governments at all levels are "engines of destruction" (User 353732) more than ever before. Their hubris has been built on sand. Any useful function of Washington in it's latest, most breathtaking power grab of TARP and the DC pork plan et al will be as it's supposed savior status in the public mind is finally reversed.
    Yes, we send taxes galore to all levels; they all feature bloated, cross-functioning, ineffective waste galore with the arrogant, overpaid public servants we've come to know all too well. Insane debt levels preceded the bust, during the "booms!" What now?
    Government has a long history now of clearly unconstitutional power grabs and a populace long trained to be shorn sheep. Interesting times.
    Jul 14 07:12 AM | 53 Likes Like |Link to Comment
  • $10 Trillion in Wall Street Aid and No Investigations? [View article]
    Actually, we're living in a "Fool's Paradise" where it's the fools (us) that remain, given the state of our "democracy."
    This article points out well how DC and Wall St. are mainly a huge crime scene now. If our "public servants" can't venture over to AIG, we see whose "servants" they really are, as you helpfully point out.
    Note also the lack of investigative reporting by the mainstream media. Hello? Anyone home?
    Jul 13 09:15 AM | 3 Likes Like |Link to Comment
  • Winter's Coming for the Boomers: Part 2 [View article]
    I wish our leaders actually "overrepresented the facts" rather than Wall St. and lies.
    A thought: I see that this article and the Fourth Turning are based completely on cyclicality and Christianity seems a bit dismissed to the extent it's message is linear. But, there has been technological progress for a long time, since the Renaissance mostly. And, symphonies and concertos were an invention since then that relied on a linear progression of events far more than the usual over-and-over with variations that characterizes songs and tunes. This was taught to me as a distinguishing feature only possible in Western civilization. Cyclicality, like linearity, can be overused.
    We've started out this phase amazingly badly, with the worst lot of overprivileged leaders I can imagine and headed mostly in the wrong directions as fast as possible. This article does give me hope as it presents possiblities of change that, however painfully attained, will at least leave the present voter apathy and boneheaded leaders and policies far behind.
    Jul 13 08:56 AM | 7 Likes Like |Link to Comment
  • Quantum Shift in Economic Baseline: A 'Black Hole' Recovery [View article]
    Dave Dorgan writes a commentary I agree with about the shape of things for the economy and baby boomers. I would add, how will it play out when government employees continue to cause taxes piled on top of the present excessive taxation to fund their gold-plated retirements and guaranteed healthcare for life? I agree in sentiment with the angry UAW members who comment about the need for middle class jobs, but our economy has a pathetically shrinking percentage of those. Those that remain mostly come out of the hides of the working poor who once would have been middle class, via taxes and shrunken opportunities for themselves as they struggle to stay afloat.
    wpdragon wonders who the pundits talk to. I just saw the CNN interview with Geithner, then a piece about "violence in America." They can't just report on a shooting; they provide the whole template of how we should think. Take away guns now! And Geithner is all about disinformation. They make it seem only right that average Americans must support Wall St.
    The oligopoly that is MSM provides these disinformation sources and templates to brainwash Americans. Americans have been shorn of middle-class expectations and lives in a short time (their memories have proved even shorter). The number of "news providers" on the tube looks like we're getting information to most of us, but it's highly directed by a small and shrinking group of fat cat owners who, I daresay, don't have our best interests in mind.
    Jul 12 06:32 PM | 6 Likes Like |Link to Comment
  • No One Saw This Economic Crisis Coming? [View article]
    Shocking! Someone did see it coming! Unfortunately, the government model of making your department larger by not actually solving the problem makes the WUMM model the government used, which excluded the huge and metastasizing financial sector, all too "logical."
    Kevin Phillip's best-seller on the financial sector came out in 07 and detailed this Wall St. rise. Nicholas Taleb's "The Black Swan" stated and explained the fact that our partial reserve financial model guarantees that society would have to backstop (bailout) Wall St. from time to time.
    More proof that the policymakers in place are the ones who can put the best gloss of lipstick on the pig and allow perpetuation of the failed system and main perpetrators the best.
    Jul 12 08:42 AM | 24 Likes Like |Link to Comment
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