The right hand of the machine is the Fed creating fiat money out of thin air with the stroke of a pen, and loaning it to the government, where we have to pay it back plus interest, the left hand is the IRS sucking all those dollars out of the system to make room for more to be loaned in at interest.
The problem is and was bad credit, you should not borrow more money to a private person than 1/6 of their yearly earnings In terms of credit cards. credit scoring system should be banned as it does not measure actual credit reliability but potential profitability for the bank. The biggest problem are the people spending what they cant afford and those that lend them. Kings for a day and fools for a lifetime.
Idiots still think entire global financial meltdown is due to ppl w "bad credit". It *is* a func of Fed and banks pushing UP land prices to 'unaffordable', and lucrative.
Lending more than 1/6 to consumers? BANKS were lending at 40x reserves, on trash securities called AAA 'collateral'. PIMCO called it a Ponzi scheme.
In 1980, total US debt was $4 Trillion.
By 2001, US debt was $21 T.
By 2008, US debt was $42 T.
How much of this was consumer debt? $1 Trillion. Do the math.
you call me an idiot again and you will eat your balls for brakfast you retarded cuntt, Its not the banks you moron but mainly people that dont treat their houses as homes but as investments, the rising of house or land prices in not due to `pushing up` prices but becouse that house of plot was sold over and over again and mr lawyer got hiz share everytime just like mr property saleman and banker all took comision on the same thing 10 or so times for past 10 or so years. simple./
ps and not borrowing in terms of credit (not mordgage) of more than 1/6 of last year`s earnings was my proposition to make one of many steps to fuckin fix it, but it seams that you cant read and understand a sentence longer than three words.
All the complaining about the rich misses the point. People in this country don't save any money. They choose to borrow and pay high interest rates to buy things they don't need. The money has to go somewhere and it goes to the ownership class. No one should be surprised.
People are living beyond their means and we have a phony service sector economy. If you want to complain about stagnate wages then explain how $60 billion trade deficits pay for our imports. They don't!
So the answer is for those that managed to remain out of debt pay money to those who are in debt? Blaming rich or not, the point is, dont spend it. (companies/people/countries)
Corymd3470, please read up on inflation. Banks pay less in interest than depositors lose in inflation. Saving money is a losing bet. We are forced to speculate. Debasing our currency destroys our earnings/savings. That is the problem. As long as interest rates remain below inflation, savers are losers. That is the problem
Saving can also mean investing. Spending money buying consumer goods that one CANNOT afford is not responsible. I'm well aware of fiat money inflation, but rich people's money is being reduced in value just as much as everybody else's money.
Are you blaming the rich for government money printing?
I don't buy the whole victimhood thing. The inflationist system is the falt of the American people. They don't stand up to government price-fixing of interest rates and money printing.
They don't stand up to government price-fixing of interest rates and money printing.
---
GAO says: the Fed simply cannot be audited by Congress. Or by anyone else, for that matter. They are PRIVATE.
Rep. Grayson asked Fed vice chairman Kohn where all the money went. He would not answer.
Alan Greenspan told PBS that nobody has authority over Fed. Fed can create unlimited money to buy Securities from JP Morgan and Citigrp, and NO ONE has authority to contradict Fed decisions.
Why don't more people support HR 1207, the Federal Reserve Transparency Act?
The people in this country do not become involved in the political process in a meaningful way. It's their fault. Period.
And we don't want to government to take over counterfeiting money. They would abuse the system even more. Imagine being able to expand government as large as you want and hiding the tax through inflation.
Furthermore, marialopezcocina, I would suggest that you review the workings of the fractional reserve system. In this system, inflation results when people BORROW.
You have to understand that the government might pour the alcohol but that doesn't mean we should drink it.
Americans think that it's never their fault. They are always the victim. They only live off the rest of the world's production. How arrogant!
"the fractional reserve system. In this system, inflation results when people BORROW."
People dont know about the money as debt racket thats a consequence of fractional res, its not in MSM, even economic classes do not analyse the consequences of Frac.R
But also, decades ago 1 paycheck was enough to get a family the house, car, furniure, there has been an assault on working class earings(Outsourcing=McJobs) concealed by access to credit(more debt for the same standard), pre-GD inequality
Sure, you might have supported a family but you didn't have computers and electronics. Your cars weren't as efficient and broke down more. Medical costs have increased because we have many more treatments available.
Yeah, it was cheaper in the stone ages.
American labor and government have increased the cost of doing business in this country and have priced us out of the market.
This working class earnings thing is quite misleading.
All money is debt. If no one borrowed money from a bank there would be no money. It will always come to this. As soon as the debt stops growing you can't pay off the debt because only the principle is in circulation. No debt no money.
And that is a terrible defense. What obviously comes with my argument is that we should have sound money.
Why should all the money belong to the banks? Why should everyone have to pay interest on money created out of thin air?
Why is spending money one does not have for things that one does not need a good thing? Remember that most people don't know how the money system works in the first place. And furthermore, this does not mean that one is forced to spend rather than save and invest.
The debt money system does not give any excuse to not save or invest. What you are talking about is a different topic. You can either do productive things with the money or you can consume wealth.
The point is that you can't blame the rich people for being rich when we choose to spend all of our money. That has nothing to do with the amount of money in circulation but the distribution of it.
And what about? You seem to not understand the most basic of principles which is that money can be invested to generate returns or it can be spent on consumer goods which goes towards business owners and the investors. Moneatry inflation hits each option. That is a different topic than class division.
Blaming the rich is for losers. Have we found one?
Michael Hudson's articles are NOT about blaming the rich. It's about the abandonment of solid CLASSICAL ECONOMICS concepts of Mills and Smith, replaced w "neoliberal" bulloney and financialization.
It's about rentiers SIPHONING wealth off the productive economy of labor and mfg, via unproductive land inflation, mineral monopolies, finance and insurance, intellectual patents on common knowledge. This makes living very expensive, but it saps industrial growth. He compares it to feudalism.
Hudson clearly was after the rich people for the "division of wealth" in the country. He doesn't really seem to understand that the rich people are the only people driving future investment and he doesn't seem to understand the distinction between money and wealth.
This victimization of the "middle class" is bullshit:
corymd3470: rich people are the only people driving future investment
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Rich ppl are NOT driving investmt. NOT in REAL GROWTH. They stripped tangible industrial assets. They put ZERO in real capital.
Instead, they created mountains of fictional wealth made out of debt and land inflation. They have pieces of paper, contracts etc, with market value of -- who the fk knows.
Fed chief says they cannot value bank assets "marked to market" because the value is unknown. This is not wealth.
It is true that a great deal of invesment has been malinvested but this says nothing about the fact that if consumers were given the money, they would degrade capital because of the savings rate. The point is that the rich are saving. Real invesment can only come from real savings. It's basic capital theory that Keynesian witch doctors cannot comprehend.
What is so ignorant about what you assume is that somehow if consumers got more money than there would be real investment.
I think, if consumers got more money than there might not be more real investment, they would have to pay off homes and past credit. Clean slate.
This could then boost spending and work, not savings per se, less money going to interest.
Hudson differentiates between investment in actual productive capital, like equipment and business processes where people work and produce things, vs. capital that consists of debt-based derivatives, betting on capital flows. and stuff like that.
But where is such money coming from? It would just cause inflation or steal money from more productive people/assets. We need liquidation to occur or the economy will never recover.
Basic capital theory does not reveal that the cure is more spending which degrades capital goods. The money that goes towards interest is loaned out again.
We do need productive industry but no transformation will occur if we continue to prop up the phony spending economy.
The only thing that you pointed out was how little you understand about economics. I know where you are coming from and it's that the common man is always the victim. Bullshit!
What was the leverage based on? MBSs?
The cumulative government and trade deficits represented the spending of printed dollars. We exported our inflation and it came back to inflate our asset prices. The "foreign savings glut" came about because U.S. consumers went on a huge buying binge financed with inflation.
The leverage was on paper. Do you understand that what you are saying is a non sequitur? It was fake. The real loss was what went into houses.
The "foreign savings glut" is not a lie. That is the most ridiculous thing that I have ever heard. There WAS a savings glut because we have such a large trade deficit and debt level.
Our economy is two-thirds consumer spending!!! DUH!!! This collapse was inevitable because we tried inflating out of problems instead of addressing the imbalances.
The reason the leverage factor goes up is that the arbitrage opportunities get thinner and thinner because you've got a lot more money you have thousands of funds, investment banks mutual funds chasing the same opportunity. The result is that the arb spreads narrow. Now, in order to get a higher return, it becomes necessary to employ greater amounts of leverage. And this is exactly what happened with LTCM back in the 1990s.
I agree with what you are saying, for the most part.
Leverage was fake money, etc.
Mortgage market is the US engine, not production.
Consumers were encouraged to re-fi, take money out of what YOU OWN, and spend it on stuff. Keep up patriotic shopping.
I know about LTCM. I agree.
Hudson explains that "foreign savings glut" is really Central Banks (China) getting dollars dumped on them, they have no practical choice but to recycle into T-bills and mortgage securities. only 500 char!
Lets go back to the 1990s, the Fed created a lot of inflation in the 1990s, what Americans did withthat money is they spent it on imported products because America lacked the industrial capacity to produce those products ourselves. So money went abroad. That kept the lid on prices, but it didnt end there. Foreigners used those dollars that we created to bid up US stocks, they invested in our stock market, that produced rising stock prices....
That was inflation. When the stock market bubble burst foreigners then recycled those dollars into the bond market, that produced a rise in bond prices, it dropped interest rates allowing Americans to bid up real estate prices. Americans then used their added home equity to borrow more money and send more dollars abroad which foreigners then used to bid up natural resource prices that were necessary in the production process.
Cory: allowing Americans to bid up real estate prices
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Yes, beyond sanity, not slow inflation, doubling total asset price in 6-7 years.
Banks encouraged that, and foreign and American investors not only bought stocks, bonds, and commodities, but also mortgaqe-backed securities, CDOs backed by CDSs. This was a boom market .. for a while. Those who knew how (or knew who) extracted wealth and got out.
Dope dealers say the same, make some money and get out before you get hot and go to jail.
Cory: So rising stock prices, rising real estate prices, rising commodity prices are all a result of the inflation that the Fed has been creating.
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Correct. As policy, since Reaganomics.
First Paul Volker pushed interest rates to double digit, I forget 18% or higher, to halt inflation caused I think by ending Bretton Woods and Vietnam spending.
Then Greenspan came in and started doing what you describe. Greenspan recently said the Fed does not answer to Congress, nor President.
The Future of America's & World Economy Depends on Positive Change...AND Education over Ignorance Equality over Bigotry Intellect over Stupidity Respect over Rudeness Truth over Lies Diplomacy over War Understanding over fear Issues over Deception Progress over Stagnation Country over politics Hope over Hate Easy Choice Isn't it? OBAMA OVER McCAIN!!!
Rothchild Dynasty are enpowered by the alien Goddesses they say.Many know that something is very wrong and believe that there is a conspiracy to enslave the population, but few suspect or dare to discuss that the conspiracy is an Anunnaki one.
Aliens are behind the wars on the planet
The Rothchilds own all the banks and all corporate hitlers therefore own eveyone of them in congress.
Wow, that is a mouthful of bigotry. Do you think that the people who practiced slavery first in Africa were white? Who delivered slaves? Read about it. Not all white people are racist, and white people have been slaves throughout history. Read about the Irish. Anyone can be racist, I deplore what many white people are gdoing to the earth and the people on it, but I would hope that if you saw me o nthe street, you would treat me as a human being first, rather than just another whitey. Regards-
The country is finished. Its only a matter of time and the timer is running out before the collapse They knew this would eventually happen and this bailout was their ticket to cash in on the backs of the people. What this guy says is true. The saddest part is they will all get away with this because power does what it wants.
you say devide and conquer is a evil white race stratagy.... well what do you think your doing with racism? We are all human, despite skin color, and we all have the potential for great good or evil... we all have that choice.
The illuminati/ free mosonry is not restricted to white people, it exists all around the world, white, black, yellow, brown it dosnt matter.
lets UNITE and live in peace, because thats the only way we can win this.
Michael Hudson makes a naive, misleading comment in this video when he says no country, e.g. the US, can ever go bankrupt because its treasury prints the money. Uh, got news for ya Mike, the Federal Reserve, a private banking cartel prints US money not the treasury. Since the banksters haven't cultivated support for an attack against Iran, they could inflict the same financial damage to the US economy by using a $700 billion bailout. The real fix is to dismantle the central banks, FED & IRS.
fuck off ignoramus. I am white and I don't give a fuck what color your skin is but I know your a bitch. Spew your racist rants and poor english but understand that an intellect greater than yours reads and discards your pathetic ramblings.
your wrong Mnt Dew....free speech free speech. I will NEVER agree with your fucking comment above. ColonialismisEvil is right on the $!!! the U.S. is not only the land of white murderous TRASH but racism has nothing to do with it....nothing.
Word. If W says it's vital, its actually the last thing the nation needs. That dude has been so wrong, so many times, about so many things.. he just needs to take his fork tongue and slither off into whatever circle of 'hell' they created & named in his honor.
Humm! This sort of shit happened in France 200 years ago ...remember the poor French peasents couldn't even feed themselves, whilst the rich French leaders ate & lived it up and don't forget Romania in this century; they hung their president Chauchsku cos he was a greedy bastard whilst Romanian poor suffered!
But hey, the people of America have NO COMEBACK! YOUR RICH LEADERS ARE NOT ANSWERABLE TO YOU THE PEOPLE AT ALL, AT ALL, AT ALLLLLL! GOD BLESS AMERICA (the rich ones) sic.
there goes our social security. this is what happens when you pocket more than you save or put back into the market. those assholes are pocketing the money. people dont get it stocks is where you put your money toward a business that you believe in and them paying you interest on that money. but if i give you money to help your business and you bullshit the money this is what happens.
And, speaking of Pelosi, she has completely destroyed the respect and authority ALL WOMEN in the USA and Abroad have fought so valently for - demonstrating how easily corrupted and easily brushed aside women are in politics erasing decades of fight for women everywhere.
Pelosi, Rice, Bush and Cheney, Paulson and Bernake all work for the same master - Greed or Satan, take your pick. They will go down in history as the greatest traitors to the once great nation of America the beautiful.
sorry but the stock market is not someplace you put money into a company you believe in... it is another form of vegas, pure and simple. these idiots need to go to gamblers anonymous...
You know if Pelosi is sitting there it is BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, and more BULLSHIT!
Pelosi is a plant, she was moved into the 3rd most powerful position in the USA specifically to prevent Bush Co. and Buddies from ever being Impeached or any of these crooks brought before a Judicial Hearing. She is a traitor and corrupt politician for the Israeli Banking interest - That is what is wrong with Pelosi. She deserves to be hung by her neck for her betrayal of Office, Oath and the Genocide of over a million innocent Iraqi women and children. She is a despicable animal and a whore.
Sarkozy calling for moralization and regulation of capitalism ... Strong words Sarko !!!
The reality: FIRE (finantial, insurace and real state interests) and Defense contractors are running the US. This can explain why the other sectors (industry and services) are relocating outside the US ...
it means that the world as you know it is gone, no more mochas, no more lates no more cell phone, no more grocery store, no more fuel for your convertible... the usa will be a third world country in a few months...IMHO
how you going to invest the us dollar into foreign countries when the us needs it more than ever.and the fact that the us dollar is worth toliet paper wrap with crap. thats why eruos and yen is so high. i heard dubai is filthy rich why cant we get a loan.
the governent shouldn't even be debating this at all. the government has absolutely NO constitution authority or jurisdiction in such matters. vote only for candidates who say "NO WAY, ABSOLUTELY NOT" to bailouts and corporate welfare. vote Chuch Baldwin2008
This is pretty damn scary honestly. What can we do? What Will happen if the bailout goes through and the dollar tanks? Which is worse, Having the Bailout, or not having the bailout?
confiscate the money from the corps andbillionaires... THEY can afford it. Start with the Bushes and Cheynes and Rockerfella's. etc etc etc... Pyramid scheme, lolololol...oh the IRONY of that!
The government knew it was a ponzi scam from the get go, I for one have called till blue in the face for YEARSSSSSSSSSSSSSSSSSSSSS. Let those corporation crooks do time in jail. No bail out! It is another SCAM!!!!!!!!!!!!
of course they knew what they were doing and i believe it was orchestrated for whatever reason.. take all those involved, have a trial, and deal with them promptly and severely.
how bout being exhiled to myanmar without a passport and carrying anti government documents.. failing that i kind of like the being buried up to their neck on an ant hill and smoothed in honey..
A fitting facial applique for dear Ms. Pelosi. Gawd that woman is disGUSTing. Pointing her bejeweled fingers in blaming fashion, with a set expression of total hautiness. ARGH! Just seeing her face makes me ILL. Absolutely NOTHING comes out of her mouth but theater, tribal ritual, ping-ponging snarkily between dem/rep, congress/executive. And of course her self-preservation is uppermost on her mind. How does she save herself? By SAYing save the tax payers. F*&%^ her, take responsibility!
As also being a student and teacher of some historical facts, the Continental Congress regarded unConstitutional judges with disdain. They were NOT part of the furniture of the courtroom folk's.
Well, The Constitution requierers an (impartial) jury. One of "peers" means a biased jury. I told you to stop watching so much tv. ;)
Secondly, that jury belongs to you when you are speaking to them. Without a judge, they cannot be corrupted unless an attorney is engaged in misuse of the Rules of Evidence, which must be pointed out to the Jury- Foreman.
Here's a hint: Federal District Judges have ZERO jurisdiction also.
We're witnessing the move of a World Order to crush freedom and free market principles. This bailout is a give away to fat cats who will move immediately out of the dollar.
The wizard has come out from behind the curtain. The ponzi scheme of our fiat currency has finally shown it's true value...nothing.
No offense, cuz Dennis has bravely challenged SOME of the usurpations of the constitution, but he needs advisors in several areas pertaining to the constitution. Social welfare, government schools are NOT things of free people.
BREAKING NEWS ON THE ECONOMIC COLLAPSE AND UPCOMING TROOP DEPLOYMENT TO OUR OWN COUNTRY
watch?v=P1qOMCBLIB0
this is in the top 12 most favs for news and politics today and top 50 most discussed and rated. PLEASE SPREAD THE WORD to all your friends, subscribers, facebook, myspace, digg, etc
Why don't we have rational leaders who recognize these kinds of things?This is a ridiculous idea,criminal charges need to be pressed not bail outs! we do need to write off the debt.there is no way that we can afford to double our taxes and have hyper inflation! this will cost every American 2,300.00 this will double most peoples tax debt for the year we are already the people who are victimized by these corporations, I really liked what was said about regulations,the Market is not all powerful!
Atlas Shrugs is reporting that the Democrats want 20% of this 700 billion or trillion to go to ACORN, The Urban League and LaRaza. More money for the Community Organizers. WFT? watch?v=YbVrCkviitk
One more thing. The elitists call us all "useless" eaters. So if they think we are all useless what on earth makes anyone think they will listen to the people? Did you all see the protest on wall st yesterday? go to uptake video and watch. funny that wasn't on the news.
I have never seen my county so outraged and nothing is calming the people down. They are pissed and saying "no bail out." But have you noticed that Con-gress is not listening? They are going to do what they want. They people are irrelevant and the sooner everyone realizes this and votes them ALL out, nothing will change. Period, done, end of story. We will get a bail out bill, because they don't care about us at all.
It funny to me that after watching this on the news, they are steadily airing Bank commercials. Bank of American and the Scotland bank or some I saw this morning.
No worries man. McCain is on it now. Mick will single-handedly fix this economic crisis. He will show them boys with their PhD's in economics the way to a fundamentally strong economy. He will give 'em some of that straight talk express... Nah just kidding. McCain's a tool & the remnants of the Republican party are just racists, fundies & greed mongers.
the taxpayers should not bail out wallstreet..700billion does not guarantee it fixes it..what if they say we need more? capitalism on the way up...socialism on the way down..what is this?
Their is more to this people.They new this was coming and now they are trying to get this passed before we can read it!!It is the same old shit good old boys helping good old boys!!!
What gets me are those who fall prey to the 'white vs color' crap.
There are 'good' AND 'bad' whites, just like there are 'good' AND 'bad' from EVERY culture AND race.
The 'war' is against war-mongering profiteers, bankers, and other 'elitists' who think the rest of us (ie. black, white, red, yellow) are cattle for their benefit.
Get with it, avoid the 'divide & conquer' techniques used by the rich - they don't care about race OR culture, they will cause war between anyone for their greed.
What is Sarkozy talking about ?? Is he that stupid or only a mad socialist?? Non interventionism hahah , interventionism was the source of the problem. FED. Governments produce problems by intervention and then are making it worse by subsidizing and reflecting bailout cost to tax
Great video. Thanks For Sharing...Jason.
SECRETSPACETHEATRE 6 months ago
The debts haven´t been let go- we are headed for new catastrophes.
Steenville 2 years ago
"truth is treason in the Empire of lies" Ron Paul
donotfret 2 years ago 7
The right hand of the machine is the Fed creating fiat money out of thin air with the stroke of a pen, and loaning it to the government, where we have to pay it back plus interest, the left hand is the IRS sucking all those dollars out of the system to make room for more to be loaned in at interest.
flatpick4eadg 2 years ago 2
This guy is awesome
donotfret 2 years ago 3
PETER SCHIFF, Please support.
Youtube channel: schiffreport
pepsimannampepsi 2 years ago
Michael Hudson is one of the few believers in truth in the field of economics.
yawnballsscratch 2 years ago 5
The problem is and was bad credit, you should not borrow more money to a private person than 1/6 of their yearly earnings In terms of credit cards. credit scoring system should be banned as it does not measure actual credit reliability but potential profitability for the bank. The biggest problem are the people spending what they cant afford and those that lend them. Kings for a day and fools for a lifetime.
lobotomiasz 2 years ago
Idiots still think entire global financial meltdown is due to ppl w "bad credit". It *is* a func of Fed and banks pushing UP land prices to 'unaffordable', and lucrative.
Lending more than 1/6 to consumers? BANKS were lending at 40x reserves, on trash securities called AAA 'collateral'. PIMCO called it a Ponzi scheme.
In 1980, total US debt was $4 Trillion.
By 2001, US debt was $21 T.
By 2008, US debt was $42 T.
How much of this was consumer debt? $1 Trillion. Do the math.
dilbertgeg 2 years ago
you call me an idiot again and you will eat your balls for brakfast you retarded cuntt, Its not the banks you moron but mainly people that dont treat their houses as homes but as investments, the rising of house or land prices in not due to `pushing up` prices but becouse that house of plot was sold over and over again and mr lawyer got hiz share everytime just like mr property saleman and banker all took comision on the same thing 10 or so times for past 10 or so years. simple./
lobotomiasz 2 years ago
Mr. Lobotomy,
You think big problem was consumers loans for mortgages. That was NOTHING!! Minutae. comprendo?
Banks put mortgages in pools w corporate debts, car loans, etc. and then MULTIPLED VALUE and slashed risk, by computer algorithms.
Then they called these debt pools "ASSETS" pledged as collateral for NEW LOANS to "invest" and lend.
BANKS OVERLEVERAGED THEMSELVES for gambling. AIG pledged billions on paper, held only 2% reserve. Experts LIED and CHEATED each other.
dilbertgeg 2 years ago
ps and not borrowing in terms of credit (not mordgage) of more than 1/6 of last year`s earnings was my proposition to make one of many steps to fuckin fix it, but it seams that you cant read and understand a sentence longer than three words.
lobotomiasz 2 years ago
Well if there is going to be hyperinflation, why should I put my money in short term treasuries. Think I will buy gold instead.
dleddy1414 2 years ago
All the complaining about the rich misses the point. People in this country don't save any money. They choose to borrow and pay high interest rates to buy things they don't need. The money has to go somewhere and it goes to the ownership class. No one should be surprised.
People are living beyond their means and we have a phony service sector economy. If you want to complain about stagnate wages then explain how $60 billion trade deficits pay for our imports. They don't!
corymd3470 3 years ago
So the answer is for those that managed to remain out of debt pay money to those who are in debt? Blaming rich or not, the point is, dont spend it. (companies/people/countries)
WebSurfinMurf 3 years ago
Corymd3470, please read up on inflation. Banks pay less in interest than depositors lose in inflation. Saving money is a losing bet. We are forced to speculate. Debasing our currency destroys our earnings/savings. That is the problem. As long as interest rates remain below inflation, savers are losers. That is the problem
marialopezcocina 3 years ago
Saving can also mean investing. Spending money buying consumer goods that one CANNOT afford is not responsible. I'm well aware of fiat money inflation, but rich people's money is being reduced in value just as much as everybody else's money.
Are you blaming the rich for government money printing?
I don't buy the whole victimhood thing. The inflationist system is the falt of the American people. They don't stand up to government price-fixing of interest rates and money printing.
corymd3470 3 years ago
They don't stand up to government price-fixing of interest rates and money printing.
---
GAO says: the Fed simply cannot be audited by Congress. Or by anyone else, for that matter. They are PRIVATE.
Rep. Grayson asked Fed vice chairman Kohn where all the money went. He would not answer.
Alan Greenspan told PBS that nobody has authority over Fed. Fed can create unlimited money to buy Securities from JP Morgan and Citigrp, and NO ONE has authority to contradict Fed decisions.
dilbertgeg 2 years ago
Excuses, excuses, excuses.
Why don't more people support HR 1207, the Federal Reserve Transparency Act?
The people in this country do not become involved in the political process in a meaningful way. It's their fault. Period.
And we don't want to government to take over counterfeiting money. They would abuse the system even more. Imagine being able to expand government as large as you want and hiding the tax through inflation.
corymd3470 2 years ago
Furthermore, marialopezcocina, I would suggest that you review the workings of the fractional reserve system. In this system, inflation results when people BORROW.
You have to understand that the government might pour the alcohol but that doesn't mean we should drink it.
Americans think that it's never their fault. They are always the victim. They only live off the rest of the world's production. How arrogant!
corymd3470 3 years ago
"the fractional reserve system. In this system, inflation results when people BORROW."
People dont know about the money as debt racket thats a consequence of fractional res, its not in MSM, even economic classes do not analyse the consequences of Frac.R
But also, decades ago 1 paycheck was enough to get a family the house, car, furniure, there has been an assault on working class earings(Outsourcing=McJobs) concealed by access to credit(more debt for the same standard), pre-GD inequality
Rickdeckard2020 3 years ago
Ignorance of the law is not a defence from it.
Sure, you might have supported a family but you didn't have computers and electronics. Your cars weren't as efficient and broke down more. Medical costs have increased because we have many more treatments available.
Yeah, it was cheaper in the stone ages.
American labor and government have increased the cost of doing business in this country and have priced us out of the market.
This working class earnings thing is quite misleading.
corymd3470 3 years ago
The more you pay workers the more the products cost.
Read Professor Mark J. Perry's blog entry "Consumers Have Benefited From Car Competition"
Things like electronics and cars have come down in price because of foreign competition. The rest of American products have gone up in price.
corymd3470 3 years ago
All money is debt. If no one borrowed money from a bank there would be no money. It will always come to this. As soon as the debt stops growing you can't pay off the debt because only the principle is in circulation. No debt no money.
gwynedd1 2 years ago
And that is a terrible defense. What obviously comes with my argument is that we should have sound money.
Why should all the money belong to the banks? Why should everyone have to pay interest on money created out of thin air?
Why is spending money one does not have for things that one does not need a good thing? Remember that most people don't know how the money system works in the first place. And furthermore, this does not mean that one is forced to spend rather than save and invest.
corymd3470 2 years ago
The debt money system does not give any excuse to not save or invest. What you are talking about is a different topic. You can either do productive things with the money or you can consume wealth.
The point is that you can't blame the rich people for being rich when we choose to spend all of our money. That has nothing to do with the amount of money in circulation but the distribution of it.
corymd3470 2 years ago
Wrong!
theairboater 2 years ago
And what about? You seem to not understand the most basic of principles which is that money can be invested to generate returns or it can be spent on consumer goods which goes towards business owners and the investors. Moneatry inflation hits each option. That is a different topic than class division.
Blaming the rich is for losers. Have we found one?
corymd3470 2 years ago
Michael Hudson's articles are NOT about blaming the rich. It's about the abandonment of solid CLASSICAL ECONOMICS concepts of Mills and Smith, replaced w "neoliberal" bulloney and financialization.
It's about rentiers SIPHONING wealth off the productive economy of labor and mfg, via unproductive land inflation, mineral monopolies, finance and insurance, intellectual patents on common knowledge. This makes living very expensive, but it saps industrial growth. He compares it to feudalism.
dilbertgeg 2 years ago
Hudson clearly was after the rich people for the "division of wealth" in the country. He doesn't really seem to understand that the rich people are the only people driving future investment and he doesn't seem to understand the distinction between money and wealth.
This victimization of the "middle class" is bullshit:
See: 20/20 - Bailouts & Bull**** Pt. 6 of 6
corymd3470 2 years ago
corymd3470: rich people are the only people driving future investment
---
Rich ppl are NOT driving investmt. NOT in REAL GROWTH. They stripped tangible industrial assets. They put ZERO in real capital.
Instead, they created mountains of fictional wealth made out of debt and land inflation. They have pieces of paper, contracts etc, with market value of -- who the fk knows.
Fed chief says they cannot value bank assets "marked to market" because the value is unknown. This is not wealth.
dilbertgeg 2 years ago
It is true that a great deal of invesment has been malinvested but this says nothing about the fact that if consumers were given the money, they would degrade capital because of the savings rate. The point is that the rich are saving. Real invesment can only come from real savings. It's basic capital theory that Keynesian witch doctors cannot comprehend.
What is so ignorant about what you assume is that somehow if consumers got more money than there would be real investment.
corymd3470 2 years ago
Cory,
I think, if consumers got more money than there might not be more real investment, they would have to pay off homes and past credit. Clean slate.
This could then boost spending and work, not savings per se, less money going to interest.
Hudson differentiates between investment in actual productive capital, like equipment and business processes where people work and produce things, vs. capital that consists of debt-based derivatives, betting on capital flows. and stuff like that.
dilbertgeg 2 years ago
But where is such money coming from? It would just cause inflation or steal money from more productive people/assets. We need liquidation to occur or the economy will never recover.
Basic capital theory does not reveal that the cure is more spending which degrades capital goods. The money that goes towards interest is loaned out again.
We do need productive industry but no transformation will occur if we continue to prop up the phony spending economy.
corymd3470 2 years ago
I AGREE. We're screwed. Trillions were stolen shifted via debt creation. Some evaporated.
Credit was disguising de-industrialization and shutting down production, for a quick buck, credit -based M and As, garage sales, gambling.
Hudson agrees we DO need liquidation, ie debt write-down, not propping up debt by transferring it to the govt.
The other side is real production and consumption. I think some capital injection is needed so engine does not grind to a halt like IMF in Argentina.
dilbertgeg 2 years ago
I pointed out, by 2008, US debt was $42T, up from $4T in 1980.
Consumer debt is only $1T.
This means we have $41Trillion in debt that has nothing to do with consumer purchases.
What is it from?
Banks borrowed it all to make LEVERAGED purchases of DERIVATIVES which are already LEVERAGED instruments.
Actual capital -- machines, production lines, materials, products -- is all miniscule compared to derivatives which only exist in "virtual reality".
Govt protects virtual wealth now.
dilbertgeg 2 years ago
The only thing that you pointed out was how little you understand about economics. I know where you are coming from and it's that the common man is always the victim. Bullshit!
What was the leverage based on? MBSs?
The cumulative government and trade deficits represented the spending of printed dollars. We exported our inflation and it came back to inflate our asset prices. The "foreign savings glut" came about because U.S. consumers went on a huge buying binge financed with inflation.
corymd3470 2 years ago
What was the leverage based on? MBSs?
---
Cory, banks did 30x and 40x leverage on MBSs. Some specs said to ultimately hit 70x hard assets or higher. That is insane.
Michael Hudson explains why "foreign savings glut" is a LIE.
Insane Debt-based military spending recycled or "sunk" into Real Estate. Sry 500 chr.
BIS estimates $1400 TRILLION (yes) in total Derivatives. Consumers did not spend $1400 T. Our total GDP is only $13.5 T.
Some consumers bought inflated houses. Other factors.
dilbertgeg 2 years ago
The leverage was on paper. Do you understand that what you are saying is a non sequitur? It was fake. The real loss was what went into houses.
The "foreign savings glut" is not a lie. That is the most ridiculous thing that I have ever heard. There WAS a savings glut because we have such a large trade deficit and debt level.
Our economy is two-thirds consumer spending!!! DUH!!! This collapse was inevitable because we tried inflating out of problems instead of addressing the imbalances.
corymd3470 2 years ago
Consumers in the 90s went on a buying binge and the savings rate went to zero. They continued spending like crazy buying homes and ipods.
Do you have any idea how big the mortgage market is? Consumer spending is not just credit cards to buy tic tacs.
corymd3470 2 years ago
Inflationary monetary policy does this:
The reason the leverage factor goes up is that the arbitrage opportunities get thinner and thinner because you've got a lot more money you have thousands of funds, investment banks mutual funds chasing the same opportunity. The result is that the arb spreads narrow. Now, in order to get a higher return, it becomes necessary to employ greater amounts of leverage. And this is exactly what happened with LTCM back in the 1990s.
corymd3470 2 years ago
I agree with what you are saying, for the most part.
Leverage was fake money, etc.
Mortgage market is the US engine, not production.
Consumers were encouraged to re-fi, take money out of what YOU OWN, and spend it on stuff. Keep up patriotic shopping.
I know about LTCM. I agree.
Hudson explains that "foreign savings glut" is really Central Banks (China) getting dollars dumped on them, they have no practical choice but to recycle into T-bills and mortgage securities. only 500 char!
dilbertgeg 2 years ago
Peter Schiff (Part 1):
Lets go back to the 1990s, the Fed created a lot of inflation in the 1990s, what Americans did withthat money is they spent it on imported products because America lacked the industrial capacity to produce those products ourselves. So money went abroad. That kept the lid on prices, but it didnt end there. Foreigners used those dollars that we created to bid up US stocks, they invested in our stock market, that produced rising stock prices....
corymd3470 2 years ago
Peter Schiff (Part 2):
That was inflation. When the stock market bubble burst foreigners then recycled those dollars into the bond market, that produced a rise in bond prices, it dropped interest rates allowing Americans to bid up real estate prices. Americans then used their added home equity to borrow more money and send more dollars abroad which foreigners then used to bid up natural resource prices that were necessary in the production process.
corymd3470 2 years ago
Cory: allowing Americans to bid up real estate prices
---
Yes, beyond sanity, not slow inflation, doubling total asset price in 6-7 years.
Banks encouraged that, and foreign and American investors not only bought stocks, bonds, and commodities, but also mortgaqe-backed securities, CDOs backed by CDSs. This was a boom market .. for a while. Those who knew how (or knew who) extracted wealth and got out.
Dope dealers say the same, make some money and get out before you get hot and go to jail.
dilbertgeg 2 years ago
Peter Schiff (Part 3):
So rising stock prices, rising real estate prices, rising commodity prices are all a result of the inflation that the Fed has been creating.
corymd3470 2 years ago
Cory: So rising stock prices, rising real estate prices, rising commodity prices are all a result of the inflation that the Fed has been creating.
-----
Correct. As policy, since Reaganomics.
First Paul Volker pushed interest rates to double digit, I forget 18% or higher, to halt inflation caused I think by ending Bretton Woods and Vietnam spending.
Then Greenspan came in and started doing what you describe. Greenspan recently said the Fed does not answer to Congress, nor President.
dilbertgeg 2 years ago
By the way, your numbers are quite off even if you do ignore the meaning of our international debt position.
corymd3470 2 years ago
seen it yesterday! lets chat
im on cam and bored Ib
FrenchFriezzz 3 years ago
SOMEONE TALK TO ME
why cant i see the video gR
718lilfred 3 years ago
vote 3rd party
joshfif 3 years ago
PhantomsRose27 3 years ago
she is really beautiful. im prettier tho! O
POTC03 3 years ago
This has been flagged as spam show
w 19/F - ne guyz wanna chat? im bored and horny! W
DW34EVA 3 years ago
thats right we are being rip off.
brk627 3 years ago
Rothchild Dynasty are enpowered by the alien Goddesses they say.Many know that something is very wrong and believe that there is a conspiracy to enslave the population, but few suspect or dare to discuss that the conspiracy is an Anunnaki one.
Aliens are behind the wars on the planet
The Rothchilds own all the banks and all corporate hitlers therefore own eveyone of them in congress.
KamikazeKoscki 3 years ago
Wow again! You obviously can't be reached one to one. Between the two of us, who do you think is happier?
Best of luck with yourself.
P.S. I am not white- more of a light earth tone
727drude 3 years ago
Wow, that is a mouthful of bigotry. Do you think that the people who practiced slavery first in Africa were white? Who delivered slaves? Read about it. Not all white people are racist, and white people have been slaves throughout history. Read about the Irish. Anyone can be racist, I deplore what many white people are gdoing to the earth and the people on it, but I would hope that if you saw me o nthe street, you would treat me as a human being first, rather than just another whitey. Regards-
727drude 3 years ago
The country is finished. Its only a matter of time and the timer is running out before the collapse They knew this would eventually happen and this bailout was their ticket to cash in on the backs of the people. What this guy says is true. The saddest part is they will all get away with this because power does what it wants.
Drednots 3 years ago 4
idiot
knickerbocker66 3 years ago
you say devide and conquer is a evil white race stratagy.... well what do you think your doing with racism? We are all human, despite skin color, and we all have the potential for great good or evil... we all have that choice.
The illuminati/ free mosonry is not restricted to white people, it exists all around the world, white, black, yellow, brown it dosnt matter.
lets UNITE and live in peace, because thats the only way we can win this.
stonereflex 3 years ago
Throw them all in jail!!!!
EMPIRE0FLIES 3 years ago
@02:05...FRANCE CAN KISS MY ASS!!!
BizzyBumpyWilson 3 years ago
Illuminati!
colopity 3 years ago
Michael Hudson makes a naive, misleading comment in this video when he says no country, e.g. the US, can ever go bankrupt because its treasury prints the money. Uh, got news for ya Mike, the Federal Reserve, a private banking cartel prints US money not the treasury. Since the banksters haven't cultivated support for an attack against Iran, they could inflict the same financial damage to the US economy by using a $700 billion bailout. The real fix is to dismantle the central banks, FED & IRS.
4ezMoney 3 years ago
agree with u man.....
akshutjoshi2005 3 years ago
fuck off ignoramus. I am white and I don't give a fuck what color your skin is but I know your a bitch. Spew your racist rants and poor english but understand that an intellect greater than yours reads and discards your pathetic ramblings.
MountainDeW06 3 years ago
your wrong Mnt Dew....free speech free speech. I will NEVER agree with your fucking comment above. ColonialismisEvil is right on the $!!! the U.S. is not only the land of white murderous TRASH but racism has nothing to do with it....nothing.
ratonnewmex 3 years ago
Dr. Michael Hudson makes sense. No bailout is needed! Just another neocon ploy
Beadbud5000 3 years ago
Word. If W says it's vital, its actually the last thing the nation needs. That dude has been so wrong, so many times, about so many things.. he just needs to take his fork tongue and slither off into whatever circle of 'hell' they created & named in his honor.
Govtflu 3 years ago 2
Dr Hudson is the first person I have heard to acknowledge that the economic problems stem back about 3 decades ago (Reagannomics).
Beadbud5000 3 years ago
Bush is an ass.. and should be tried for war crimes and crimes against humanity.. along with his friends.
All this is being made to happen to bring in their plans for the NWO, the NUA and the Amero. Do they think we re all stupid, or maybe asleep?
walkingbear56 3 years ago 4
Panic the American people and make them think there is an emergency. Thank you Michael Hudson, say it loud and clear.
askalice50 3 years ago 3
Humm! This sort of shit happened in France 200 years ago ...remember the poor French peasents couldn't even feed themselves, whilst the rich French leaders ate & lived it up and don't forget Romania in this century; they hung their president Chauchsku cos he was a greedy bastard whilst Romanian poor suffered!
But hey, the people of America have NO COMEBACK! YOUR RICH LEADERS ARE NOT ANSWERABLE TO YOU THE PEOPLE AT ALL, AT ALL, AT ALLLLLL! GOD BLESS AMERICA (the rich ones) sic.
12235117657598502586 3 years ago 2
LAND OF WHITE TRASH
ratonnewmex 3 years ago
there goes our social security. this is what happens when you pocket more than you save or put back into the market. those assholes are pocketing the money. people dont get it stocks is where you put your money toward a business that you believe in and them paying you interest on that money. but if i give you money to help your business and you bullshit the money this is what happens.
MUSTSEEVID 3 years ago 3
It's funny that you say that, when all along the President has been telling us to spend, spend, spend... "it's good for the economy". Oh well...
t4ac3y1 3 years ago 3
And, speaking of Pelosi, she has completely destroyed the respect and authority ALL WOMEN in the USA and Abroad have fought so valently for - demonstrating how easily corrupted and easily brushed aside women are in politics erasing decades of fight for women everywhere.
Pelosi, Rice, Bush and Cheney, Paulson and Bernake all work for the same master - Greed or Satan, take your pick. They will go down in history as the greatest traitors to the once great nation of America the beautiful.
PsyogiBottoms 3 years ago 3
sorry but the stock market is not someplace you put money into a company you believe in... it is another form of vegas, pure and simple. these idiots need to go to gamblers anonymous...
evcrawfish 3 years ago 3
You know if Pelosi is sitting there it is BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, BULLSHIT, and more BULLSHIT!
No Bail out of Bush's Butt Buddies.
PsyogiBottoms 3 years ago
why whats wrong with pelosi.
MUSTSEEVID 3 years ago
Pelosi is a plant, she was moved into the 3rd most powerful position in the USA specifically to prevent Bush Co. and Buddies from ever being Impeached or any of these crooks brought before a Judicial Hearing. She is a traitor and corrupt politician for the Israeli Banking interest - That is what is wrong with Pelosi. She deserves to be hung by her neck for her betrayal of Office, Oath and the Genocide of over a million innocent Iraqi women and children. She is a despicable animal and a whore.
PsyogiBottoms 3 years ago 4
This shit has been planned for decades. You fucktards need to wake up and smell the fucking shit-storm on it's way. End result - enslavement.
32GaugeSlug 3 years ago
Kill um all.
saintearth 3 years ago
Sarkozy calling for moralization and regulation of capitalism ... Strong words Sarko !!!
The reality: FIRE (finantial, insurace and real state interests) and Defense contractors are running the US. This can explain why the other sectors (industry and services) are relocating outside the US ...
Guayaco56 3 years ago
THEY already know whats going to happen, this is all a show for the people. Part of the never-ending theatrical production called Democracy.
Iseeyoursoul 3 years ago 3
it means that the world as you know it is gone, no more mochas, no more lates no more cell phone, no more grocery store, no more fuel for your convertible... the usa will be a third world country in a few months...IMHO
evcrawfish 3 years ago
yup
MUSTSEEVID 3 years ago
They Siphoned off Massive Cash from the Corporations,
bought the most Expensive Estates in the USA and abroad. Stashed money in other parts of the world. Then Broke the Corporations they ran!
It's soooooooooooooo wrong! The USA needs to find that money, get it back! Sell the Estates, and use the money to pay back into the Corporations
and make them solvent. And leave these ass holes with a Single Wide Mobile Home!
KamikazeKoscki 3 years ago
how about just making corporations illegal? and no limited liability anything?
evcrawfish 3 years ago 2
how you going to invest the us dollar into foreign countries when the us needs it more than ever.and the fact that the us dollar is worth toliet paper wrap with crap. thats why eruos and yen is so high. i heard dubai is filthy rich why cant we get a loan.
MUSTSEEVID 3 years ago
there should be an american vote for the citizens to determine what will happen
3435464656 3 years ago
"there should be an american vote for the citizens to determine what will happen"
good luck with that, better go stock up on some food while you can
evcrawfish 3 years ago
i agree.
MUSTSEEVID 3 years ago
FASCISM
powerslave71 3 years ago
The gov isn't printing the money!
duh!
divinacomedias 3 years ago
Colon..., Divide and conquer...
What you know not, is the U.S. Gov. has been bankrupt since 1933. Study what a (FIAT) Currency is and its cons.
badfinger111 3 years ago
Colon..., Federal income taxes are a sham.
NOT one dime goes to pay on the National Debt or to run the Federal Government.
See: The Grace Commission Report.
Please know what you speak before we yet again see you EXPOSE yourself so W I D E. ;)
badfinger111 3 years ago
Ripping off the public...what else is new?
Read the Bible and you'll learn what this is all about....world bank, world government.
CraigX4Mayor 3 years ago
the governent shouldn't even be debating this at all. the government has absolutely NO constitution authority or jurisdiction in such matters. vote only for candidates who say "NO WAY, ABSOLUTELY NOT" to bailouts and corporate welfare. vote Chuch Baldwin2008
nonrepublicrat 3 years ago
Paulson and Bernake are unelected officials.....
midwestcharm 3 years ago 3
Midwestcharm, No on both counts.
badfinger111 3 years ago
This is pretty damn scary honestly. What can we do? What Will happen if the bailout goes through and the dollar tanks? Which is worse, Having the Bailout, or not having the bailout?
jedus1 3 years ago
i only have three words to say.... NO BAIL OUT
evcrawfish 3 years ago 4
Agree
juiceegapeach 3 years ago 2
confiscate the money from the corps andbillionaires... THEY can afford it. Start with the Bushes and Cheynes and Rockerfella's. etc etc etc... Pyramid scheme, lolololol...oh the IRONY of that!
withoutmercyuk 3 years ago
Welcome to the Fascist States of Corporations (USA).
ManufacturedThoughts 3 years ago 4
All of this for an excuse for the Amero hey. Wankers.
sim0b 3 years ago
"There is no political solution...To our troubled evolution"-The Police.
GREED. MONEY. POWER & CONTROL. CAPITALISM...Money becomes more important than people. Very few gain. Very many suffer. Change will not come easily.
Tman222 3 years ago 2
The government knew it was a ponzi scam from the get go, I for one have called till blue in the face for YEARSSSSSSSSSSSSSSSSSSSSS. Let those corporation crooks do time in jail. No bail out! It is another SCAM!!!!!!!!!!!!
moneymagnetelizabeth 3 years ago 3
of course they knew what they were doing and i believe it was orchestrated for whatever reason.. take all those involved, have a trial, and deal with them promptly and severely.
navtel 3 years ago 3
Punishment of treason is...? ;-/
anyusmoon1 3 years ago
Punishment of treason is...? ;-/>>>>
how bout being exhiled to myanmar without a passport and carrying anti government documents.. failing that i kind of like the being buried up to their neck on an ant hill and smoothed in honey..
navtel 3 years ago
A fitting facial applique for dear Ms. Pelosi. Gawd that woman is disGUSTing. Pointing her bejeweled fingers in blaming fashion, with a set expression of total hautiness. ARGH! Just seeing her face makes me ILL. Absolutely NOTHING comes out of her mouth but theater, tribal ritual, ping-ponging snarkily between dem/rep, congress/executive. And of course her self-preservation is uppermost on her mind. How does she save herself? By SAYing save the tax payers. F*&%^ her, take responsibility!
anyusmoon1 3 years ago
Hi Moon. :)
As also being a student and teacher of some historical facts, the Continental Congress regarded unConstitutional judges with disdain. They were NOT part of the furniture of the courtroom folk's.
Anyway, the gallows was employed.
badfinger111 3 years ago
Who will try the case? Judges are in on it.
We are in such a world of $*&%^
anyusmoon1 3 years ago
Hi Moon. :)
GREAT question!
Well, back when we had NO local judges, we had trials by a jury and NO judge.
That's the only way we should have trials, after all that's what all the Constitutions mandate.
To get a judge removed from the bench either local or federal you must challenge jurisdiction over and over and over again.
And demand a trial by a jury. 'Cause the opposite of trial by jury, is NOT a judge!
badfinger111 3 years ago
Here's the bottom of bottom lines...
Are there any 'peers' left in this country who can hear truth, after a life time of lies, and find in favor of the teller?
:-( This is the saddest and most heartbreaking part of our problem. The sheople.
anyusmoon1 3 years ago
Hi Moon. :)
How I love discussing "stuff" with ya. :)
Well, The Constitution requierers an (impartial) jury. One of "peers" means a biased jury. I told you to stop watching so much tv. ;)
Secondly, that jury belongs to you when you are speaking to them. Without a judge, they cannot be corrupted unless an attorney is engaged in misuse of the Rules of Evidence, which must be pointed out to the Jury- Foreman.
Here's a hint: Federal District Judges have ZERO jurisdiction also.
badfinger111 3 years ago
We're witnessing the move of a World Order to crush freedom and free market principles. This bailout is a give away to fat cats who will move immediately out of the dollar.
The wizard has come out from behind the curtain. The ponzi scheme of our fiat currency has finally shown it's true value...nothing.
xciteful 3 years ago
Ummmm, Dennis Kucinich NEEDS to get another economic advisor!
Saying: "A country can't go bankrupt because all it has to do is print more money"?!
The U.S. has been bankrupt since 1933!
Fedral Reserve Notes are NOT backed by real money of either gold or silver!
That means FRN's are worth what it costs to make them -> .03 cents each!
They are instruments of debt ONLY!
Folk's are paying their debts with instruments of debt.
badfinger111 3 years ago
No offense, cuz Dennis has bravely challenged SOME of the usurpations of the constitution, but he needs advisors in several areas pertaining to the constitution. Social welfare, government schools are NOT things of free people.
anyusmoon1 3 years ago
Hi Moon. :)
What was your point to my statement, please?
Remeber, I am only a welder with a GED.
badfinger111 3 years ago
LOL nah I was just taking the opportunity to 'stump' for TRUTH.
And let ya know I'm reading your stuff, generally keeping an eye on YOU! lol ;-)
anyusmoon1 3 years ago
Amen! This is so fricking obvious... guess I should have been an economist. ;-/
Global Socialism for Billionaires! Now we've seen it ALL.
anyusmoon1 3 years ago 2
Don't worry anyus, it will get even better....
economic and political collapse of america...
TechnoNubian 3 years ago
more real news.. same subject
BREAKING NEWS ON THE ECONOMIC COLLAPSE AND UPCOMING TROOP DEPLOYMENT TO OUR OWN COUNTRY
watch?v=P1qOMCBLIB0
this is in the top 12 most favs for news and politics today and top 50 most discussed and rated. PLEASE SPREAD THE WORD to all your friends, subscribers, facebook, myspace, digg, etc
ethogenic 3 years ago
Please return Thomas Jefferson!
thechitowncubs 3 years ago
bye bye dollar
vujade1 3 years ago
The captain of socialism (Sarkozy) criticizing our free market system, which hasn't actually been free for a very long time.
We need to legalize competing currencies and get strict oversight of the Federal Reserve.
MooseOfReason 3 years ago
This comment has received too many negative votes show
we need Sarah Palin!!
Ripley01 3 years ago
Really? Is Sarah Palin an economic expert?
Or do you just think that if there's a pretty face around poverty won't hurt so much..
Evita Palin ????
9duhjb9 3 years ago 2
Usa will be more poor then Ethiopia :)
ghengisKhan123 3 years ago 2
No fucking bail out, let them sink into their own pile of dung.
WhizBProductions 3 years ago 4
Love the Augusto Pinochet reference.
aquabone81 3 years ago 2
Long live socialism! /sarcasm
Fullmetalpizza 3 years ago
Why don't we have rational leaders who recognize these kinds of things?This is a ridiculous idea,criminal charges need to be pressed not bail outs! we do need to write off the debt.there is no way that we can afford to double our taxes and have hyper inflation! this will cost every American 2,300.00 this will double most peoples tax debt for the year we are already the people who are victimized by these corporations, I really liked what was said about regulations,the Market is not all powerful!
sonicspy79 3 years ago 2
Black October begins in t-minus 5 days.
delerium2k 3 years ago 2
sarkozy makes me sick! he is a little dictator criminal like all the rest!
wdcsucks1 3 years ago 3
THE INFAMY DAY!!!!
caedaraujo 3 years ago
This comment has received too many negative votes show
death to capitalism.
deliciousmorton 3 years ago
Yeah, state nanny and fascism rule. Bring it on.
nibelungensohn 3 years ago 7
There is a glitch in the Matrix.
abilityoflove 3 years ago 4
Atlas Shrugs is reporting that the Democrats want 20% of this 700 billion or trillion to go to ACORN, The Urban League and LaRaza. More money for the Community Organizers. WFT? watch?v=YbVrCkviitk
Bigone5555J 3 years ago
call your congress say NO to the 700 billion dollar bailout 1-800-828-0498
rumpelstillskin65 3 years ago 4
One more thing. The elitists call us all "useless" eaters. So if they think we are all useless what on earth makes anyone think they will listen to the people? Did you all see the protest on wall st yesterday? go to uptake video and watch. funny that wasn't on the news.
monymizer 3 years ago
Good for Republican Shelby --
He realizes the lower & middle classes in Alabama won't get crap.
This is all about giving billons to those, mostly in NYC, who screwed it up in the 1st place.
DillonX 3 years ago
I have never seen my county so outraged and nothing is calming the people down. They are pissed and saying "no bail out." But have you noticed that Con-gress is not listening? They are going to do what they want. They people are irrelevant and the sooner everyone realizes this and votes them ALL out, nothing will change. Period, done, end of story. We will get a bail out bill, because they don't care about us at all.
monymizer 3 years ago 5
It funny to me that after watching this on the news, they are steadily airing Bank commercials. Bank of American and the Scotland bank or some I saw this morning.
MeekestOne 3 years ago 2
DUN DUN DUN.....
get ready for all hell to brake loose!!!!!
ChaarabGabar 3 years ago 2
No worries man. McCain is on it now. Mick will single-handedly fix this economic crisis. He will show them boys with their PhD's in economics the way to a fundamentally strong economy. He will give 'em some of that straight talk express... Nah just kidding. McCain's a tool & the remnants of the Republican party are just racists, fundies & greed mongers.
CO2Junkie 3 years ago 2
haha u really had me going! lol
QbanNewWave 3 years ago
People need to go to prison.
bmc6053 3 years ago
people will; just not the right people.
momerath42 3 years ago
the taxpayers should not bail out wallstreet..700billion does not guarantee it fixes it..what if they say we need more? capitalism on the way up...socialism on the way down..what is this?
FrankCastlez 3 years ago
Their is more to this people.They new this was coming and now they are trying to get this passed before we can read it!!It is the same old shit good old boys helping good old boys!!!
killergames187 3 years ago
haha, yeah bail 'em out so they can all move to Israel and sip pina coladas.
FartheadOgre 3 years ago
What gets me are those who fall prey to the 'white vs color' crap.
There are 'good' AND 'bad' whites, just like there are 'good' AND 'bad' from EVERY culture AND race.
The 'war' is against war-mongering profiteers, bankers, and other 'elitists' who think the rest of us (ie. black, white, red, yellow) are cattle for their benefit.
Get with it, avoid the 'divide & conquer' techniques used by the rich - they don't care about race OR culture, they will cause war between anyone for their greed.
intrepidxxx 3 years ago 3
Sad but true.
martymars 3 years ago
lets let this thing drag on until JPMorgan aquires everything for pennies on the dollar.This is exactly what JPMorgan did during the '29 crash.
And the repubs want to have us pay for an insurance policy for the banks that hold these bad debts? Who will be the insurer, AIG?
Drag it out guys, and the country will end up with three banks, Morgan,Goldman and BofA
MoGoBofA.
DontSprayMeBro 3 years ago 6
King George of England
Secessionists from Dixie before the Civil War
Russia, China and the Iron Curtain
Terrorists who "hate our way of life"
The Bush administration
Question:
Which of the above has come the closest to bringing America down?
With a president like this, who needs enemies?
bushputz 3 years ago 2
Hold the people responsible accountable.
bushputz 3 years ago 3
It is too bad extreem greed isnt a crime here
AppointedGiftOfGod 3 years ago 3
As of 12:25 PM CST Senate rejected the bailout.
This should get interesting.
fiveheadlol 3 years ago 2
what can we do? this shit is fucked up!!!!
fearless3geclipse 3 years ago
So...the United States government buys up all the bad loans....sometimes called a bail-out
Then...the US Govt owns all those houses (8000 foreclosures a day, 2.3 million so far this year)
then...the govt wants 1 trillion dollars from the taxpayers
there is a reason this is coming at the tail-end of the Bush administration
the wealthiest people in the US empty the pockets of the poorest people.
monkeypeopleofearth 3 years ago 4
Europe should have a saying in the regulations, it affects us too.
bleunt 3 years ago
And if it is accepted?
Will we sit down and wait for more problems or remove the traitors from the earth?
This is serious, the lives of billions are at risk for the lives of a few hundreds.
asperin 3 years ago
put them in jail!
mstrephoenix 3 years ago 3
NAZI ROUNDTABLE.
odin422 3 years ago
now look here ! It took 90 years to position the F.E.D. to ripoff the world . if you think we'll stop now,,, well think again
wcarlpdrysdale 3 years ago
Sadly, I told most of my classmates in college that if we pass this bill, we will have hyperinflation very soon. They don't believe me! Sigh....
sky21448 3 years ago 5
What is Sarkozy talking about ?? Is he that stupid or only a mad socialist?? Non interventionism hahah , interventionism was the source of the problem. FED. Governments produce problems by intervention and then are making it worse by subsidizing and reflecting bailout cost to tax