When this is all said and done, there will only be a few banks left standing: JPMorgan, Goldman Sachs, and Bank of America. IMO. Oligopoly power handed over by the people. And the FED will have more real power than Congress. Extortion, anyone?
Further to Dilrod's post, I absolutely refuse to believe the meltdown that is occuring is catching these folks off guard. Maybe Ben didn't think it would be this bad, maybe even Hank, too. But there's no way *their* bosses were surprised. (I doubt it's a coincidence that Helicopter Boy was hired right before these events.) No way did they have to ban shortselling on the fly. No way did they have to come up with an overnight 'emergency' bailout package outlined on only three pages! I will say the same thing about CDS, hedgefunds, and derivatives in the coming months.
These people just aren't that stupid or shortsighted. I'd bet my last dollar these people sell Keynesian, but buy Austrian. We aren't the only ones who realise the effectiveness of free markets. That's why they're making sure they aren't free at all.
Further to Dilrod's post, I absolutely refuse to believe the meltdown that is occuring is catching these folks off guard. Maybe Ben didn't think it would be this bad, maybe even Hank, too. But there's no way *their* bosses were surprised. (I doubt it's a coincidence that Helicopter Boy was hired right before these events.) No way did they have to ban shortselling on the fly. No way did they have to come up with an overnight 'emergency' bailout package outlined on only three pages! I will say the same thing about CDS, hedgefunds, and derivatives in the coming months.
These people just aren't that stupid or shortsighted. I'd bet my last dollar these people sell Keynesian, but buy Austrian. We aren't the only ones who realise the effectiveness of free markets. That's why they're making sure they aren't free at all.
Capn Cash
Yes the dollars would still be here, for we would never have fought these wars in the ME nor tried to maintain troops in more than 100 countries.
Bringing the troops and the money wasted keeping them abroad home from all these overseas military operations would help solve alot of the problems mentioned in this thread.
The system we had here was the best in the world, but Im afraid since the thieves changed the rules and ruined it, its going to have to completely collapse before there is any chance of it, or something closely similar being implemented.
Furthermore, Id like to know when the last audit of the ft knox gold was performed and by what entities. Its believed much of the US gold has been leased, sold, and until I see something credible proving otherwise, Ill wear my tin foil hat and believe that particular conspiracy or whatever people want to name it.
Yes the dollars would still be here, for we would never have fought these wars in the ME nor tried to maintain troops in more than 100 countries.
Bringing the troops and the money wasted keeping them abroad home from all these overseas military operations would help solve alot of the problems mentioned in this thread.
The system we had here was the best in the world, but Im afraid since the thieves changed the rules and ruined it, its going to have to completely collapse before there is any chance of it, or something closely similar being implemented.
Furthermore, Id like to know when the last audit of the ft knox gold was performed and by what entities. Its believed much of the US gold has been leased, sold, and until I see something credible proving otherwise, Ill wear my tin foil hat and believe that particular conspiracy or whatever people want to name it.
greenspan skipped town cause he knew he was gonna be blamed for all this shit
volker skipped town and said here ya go greenspan just prior to the 1987 crash as well
you give these guys too much credit X
they are in the minority if things get really bad and the people realize who put us in this mess
the bush administration and all their failures along the way is really opening up alot of eyes
and democratic majority congress approval ratings extremely low and a large majority of americans are against this bailout plan which has a high degree of certainty of passing....regardless if it might help them live a few more months without major pain
plus this bill is supposed to be the end all to "fix" everything....its not gonna do that....average joe will continue to see his standard of living deteriorate
the faith in government and our leaders is very very low....and bad economic times will be the catalyst to do something about it....eventually....IMO
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Greenspan is 116 years old, WTF do you want from him? Andrea is cheating on him with Hillary.
term? they have limits now? since when?
volker skipped town after 9 years on aug 11th, 1987....coincidence we crashed soon after i think not
greenspan knew this was coming reading his comments about economy post fed is quite comical
he's going down in the history books in a negative way can almost guarantee you that
volker skipped town after 9 years on aug 11th, 1987....coincidence we crashed soon after i think not
greenspan knew this was coming reading his comments about economy post fed is quite comical
he's going down in the history books in a negative way can almost guarantee you that
That's the way I feel too Darryl. What possible advantage can there be to having disarray even if you can profit from less calmer times? These guys are masters at making the American people just happy enough not to riot. After all, if you have 2 kids and a wife a mortgage and 2 vehicles you don't want to give up all that fat lifestyle. Just give me my 9 to 5 and my football on the weekends and we're all happy right?
Even with all the house foreclosures a good percentage of the US owns a home. It's not like 85% of homeowners have been foreclosed upon. It's still a high enough percentage to keep them happy, fat and sassy.
If it were to get to the point of the Depression then we would have another story. If the economy ever does get to be that bad then I feel tiz's complacency removal facotr would be well in place.
theres no way out X
all they can try to do is prop up the markets near term to buy them some more time to put the memory of bush in the past
and the more they prop the more inflation goes up....and the more they have to pay for the day to day necessities and the consumer gets squeezed.....and over time if they do get the reinflation going we will be at this point again some day....at which point the problem will be worse....since all we are doing near term is trying to tack on more bad debt to save the current bad debt from collapsing....compounding the problem
maybe obama can pull off the FDR to "save" them? and bush will be the scapegoat....while obama is the "good guy" who's in bed with hanktator and the fed just like any other politician....to give restore people's confidence in the rigged system.....
we shall see....
all they can try to do is prop up the markets near term to buy them some more time to put the memory of bush in the past
and the more they prop the more inflation goes up....and the more they have to pay for the day to day necessities and the consumer gets squeezed.....and over time if they do get the reinflation going we will be at this point again some day....at which point the problem will be worse....since all we are doing near term is trying to tack on more bad debt to save the current bad debt from collapsing....compounding the problem
maybe obama can pull off the FDR to "save" them? and bush will be the scapegoat....while obama is the "good guy" who's in bed with hanktator and the fed just like any other politician....to give restore people's confidence in the rigged system.....
we shall see....
there has always been term limits
greesnpan finished offer Volckers term after he left early and was appointed to a new term
this should be common knowledge, but after seeing some of the things posted on this board it may not be, but these FED governors are all on the same team (and it is not DEM or REP) and they're just spokes in the wheel
they need to get the old guy out before the crisis hits
i can almost guarantee you if ben saves the fed and confidence is restored and they buy more time via inflation.....soon after he leaves there will likely be some big economic event soon to come after....
cause if the old guy is in there than they and the fed become the focus of attention
many of the lawmakers today were telling ben you weren't around when these problems were being created so its kind of a way to divert attention from the fed since the old guy greenspan is now gone and we got a new guy in there to "fix" it
one congressman today told ben greenspan said 700 billion is chicken feed...ben gave a smirk
if greenspan was up there giving testimony he'd be getting absolutely slaughtered and the feds reputation would be on the line big time
right now the focus on hanktator an ex goldman sachs CEO (he will be gone for somebody else when obama gets in) not the root of the problem the fed
i can almost guarantee you if ben saves the fed and confidence is restored and they buy more time via inflation.....soon after he leaves there will likely be some big economic event soon to come after....
cause if the old guy is in there than they and the fed become the focus of attention
many of the lawmakers today were telling ben you weren't around when these problems were being created so its kind of a way to divert attention from the fed since the old guy greenspan is now gone and we got a new guy in there to "fix" it
one congressman today told ben greenspan said 700 billion is chicken feed...ben gave a smirk
if greenspan was up there giving testimony he'd be getting absolutely slaughtered and the feds reputation would be on the line big time
right now the focus on hanktator an ex goldman sachs CEO (he will be gone for somebody else when obama gets in) not the root of the problem the fed
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I do sort of agree with X that the people at tippity-top knew that they could increase and consolidate their power once another bubble they created tanked. Especially if they could pulloff the gag via the public demanding govt intervention.
Im not posting about people only with big money, for at the top levels, its much less about money and more about power and other things jdog can better explain.
It seems the public is contrary this bailout and thus why Im thinking some of the top players possibly want or need the system to tank. That way, not only will the public finally will accept a bailout, they will demand and applaud it.
Its kind of what happened when the federal reserve was created. The people demanded the govt do something to stop the boom and bust cycles and thus the fed was formed...again the bankers power was increased and consolidated.
Thus, it can easily be argued the same thing is happening here now, but on a much larger scale and the power is being concentrated among a smaller group wielding even greater power.
Aig, bsc, leh, fnm, fre have happened very recently, so it isnt easy to ponder. Thus, Im heading out for a couple cold ones to assist my thinking.
:drink:
Im not posting about people only with big money, for at the top levels, its much less about money and more about power and other things jdog can better explain.
It seems the public is contrary this bailout and thus why Im thinking some of the top players possibly want or need the system to tank. That way, not only will the public finally will accept a bailout, they will demand and applaud it.
Its kind of what happened when the federal reserve was created. The people demanded the govt do something to stop the boom and bust cycles and thus the fed was formed...again the bankers power was increased and consolidated.
Thus, it can easily be argued the same thing is happening here now, but on a much larger scale and the power is being concentrated among a smaller group wielding even greater power.
Aig, bsc, leh, fnm, fre have happened very recently, so it isnt easy to ponder. Thus, Im heading out for a couple cold ones to assist my thinking.
:drink:
Well there was plenty of rioting and political/societal upheaval during the 1970s and we got through that one ok.
The internet of course lets diverse people come together far more easily, creating a mental picture of a common cause with a lot of participants.
Tuff times ahead, no doubt about that.
I reckon a Thatcher type politician is far more likely than a total social and economic breakdown.
Business/citizens will have thier asses taxed off, pensions will be cut across the board and rioters will be shot on sight kinda thing.
Interesting to see Woofy looking seriously at socialist hellholes like Norway after he's made his capitalist wedge.
A lot of English who made good money during Thatchers capitalist revolution in Southern England also headed north to socialist Scotland to enjoy their wealth, because capitalism tends to generate social breakdown and a violent society.(aka shitholes)
:grandmais
Property prices are still high in lefty-land because socialism promotes stability over profit Woofy, and over the long term people want themselves and their families to live in a stable environment.
The internet of course lets diverse people come together far more easily, creating a mental picture of a common cause with a lot of participants.
Tuff times ahead, no doubt about that.
I reckon a Thatcher type politician is far more likely than a total social and economic breakdown.
Business/citizens will have thier asses taxed off, pensions will be cut across the board and rioters will be shot on sight kinda thing.
Interesting to see Woofy looking seriously at socialist hellholes like Norway after he's made his capitalist wedge.
A lot of English who made good money during Thatchers capitalist revolution in Southern England also headed north to socialist Scotland to enjoy their wealth, because capitalism tends to generate social breakdown and a violent society.(aka shitholes)
:grandmais
Property prices are still high in lefty-land because socialism promotes stability over profit Woofy, and over the long term people want themselves and their families to live in a stable environment.
Hey Eek, even Norway is starting to wise up. Socialism may not last long there either:
Norway Turns to the Right
Norway Turns to the Right
