ECONOMIC DEPRESSION, BAILOUTS, POLLUTING PHILANTHROPY, BAPTIST PONZI SCHEMERS, AND CONGRESSIONAL CONFLICTS OF INTEREST
Are you familiar with the expression double-dip recession? Well, this is a rollercoaster with the cars going slightly up in a stock rally before the next drop. The cars come to a rest at the bottom after the ride too.
The Republicans were in charge when the economy crashed, but the Democrats were more than along for the ride. Bill Clinton's ineptitude helped to ruin things right along with Bush after him and Obama now and Bush before him and Reagan before that. Frankly, much of the problems can be laid at the door of the Vietnam War. Of course, that war, as with all wars, was fought for mammon — to make the military corporations and all the interlocking companies and their banker owners richer and richer and to Hell with the poor. What do they call the poor, "useless eaters"?
Obama has hired all the same parasites who started the bleeding of the people and who have continued that bleeding. There has been nothing done for Main Street and the real economy. The transfer of wealth from the bottom up continues apace. The reforms they've floated are so woefully inadequate on purpose. It's on purpose in an attempt to insure the continuation of the plutocracy.
THEY DON'T LIKE THE GM BANKRUPTCY PLAN. WHY DO THEY LIKE THE GOLDMAN SACHS AND AIG BAILOUTS?
I hear the neocons complaining about the General Motors bankruptcy and reorganization plan, but those same neocons were for the most part stone-cold silent when Henry Paulson was dishing out tens of billions to Goldman Sachs and AIG, etc. Why were they silent about that? Well, the difference lies in who got the money. At Goldman Sachs and AIG, millionaire and billionaire speculators were bailed out. With General Motors, the neocons simply want to drive the last nail into the coffin of labor unions. Why would they want to do that? They want to do that so they (their masters) can live as high as possible while sharing as little as possible. It's that's simple.
(See also: "," by Betsy Reed. The Nation. 06/12/2009.)
Now, people are attempting to live in denial. In the U.S. and Europe, they are trying to cling to more fascistic tendencies. It won't work. The day of reckoning will come sooner or later.
WALL STREET BAILOUTS
Now you are seeing what we said was part of the plan all along. Wall Street was bailed out. Salary caps have disappeared. Obama is no longer pursuing that issue. Congress can regulate bonuses still; but with Wall Street lobbying, how long with it last? Main Street was ignored. Some money was earmarked for some infrastructure development. It's far from enough. Money has been printed in record quantities to cover toxic securities that the government is going to allow insiders to bid up before the government buys the worthless junk. The transfer of wealth from hardworking taxpayers to the ultra-rich rip-off artists is underway. Continuing and huge deficits are coming. The budgets will be balanced on the back of the poor. All governmental services will be cut. The common people will suffer. The private sector superrich oligarchs and plutocrats who have literally stolen via the Federal Reserve and the Income Tax scheme will push for sales taxes and value-added taxes, which further hurt the lower and middle classes. Social Security will be privatized so the stock brokers can take a huge bit/cut and cause a bubble and bust. Medicare will be cut, which will put all healthcare into privatized hands with a government coercion program requiring all citizens to buy private insurance whether they want it or not. Public education will suffer. Jobs will continue going more and more to minimal tasks until the whole world has leveled out with only two classes: the superrich and all the rest as chattel/serfs. There will be a middle few, but the all-seeing-eye computer net and cyborgs and robots are going to run things for the superrich. The superrich will be gods. The rest will be subhuman creatures — expendable and to be culled due to the carrying capacity of the Earth unless science and technology can make up the difference. It won't work, of course; but that's their plan.
The U.S. shipped jobs to Mexico, China, and elsewhere. It now takes two incomes to do what one did when I was a kid. That's inflation. People live off debt. Savings rates dropped. Other countries bought U.S. Treasuries. Then deregulation came in. Leverage went up 3 and 4 fold. Totally unregulated Credit Default Swaps showed up. Mortgages were bundled and sold as securities. Due diligence became passÃ©. The banks wouldn't be left holding the bag, and besides, AIG and others were insuring the AAA stuff. Ratings were a joke, but Europe fell as suckers to the U.S. Ponzi scheme. Now they're telling the people that it bottomed. Bull! We aren't even close.
They are making up statistics and still using methods to fudge the actual numbers. Unemployment is around twice as high as suggested. Many people have given up or have part-time jobs who want and really require fulltime work.
The only part of the population where employment is really going up is for people 55 and up. They have no choice but to stream back into the workforce. Their retirement investments were cut in half or even completely wiped out in the busting of the scientifically crated bubble.
BERNANKE: WHAT'S HE DOING WITH TIMOTHY GEITHNER?
What Bernanke, Geithner, Summers, and the other mammon worshippers are doing for the Plutocrat international bankers/financiers is arranging things so that more of the value of future labor goes to those bankers. It's that simple. All the bailout and printing of money and squeezing on the government budget is about cutting government spending that goes to the non-bankers and raising the taxes on those non-bankers to pay those bankers. That's it. That's all you need to know. The rest just concerns the tactics and strategies of the biggest thieves in the world.
Do away with the Federal Reserve. Do away with Federal Reserve Notes. Do away with the National Debt. Do away with taxes to pay interest on the people's currency. Do away with all interest-bearing public currencies. Then don't stop there. Do away with banks. Do away with money. Do away with coercive government. Do away with anyone taking any part of the inheritance of all for self. Do away with it all in your hearts. Give and share by consensus in righteousness. Follow Jesus's lead.
The situation is as bad as the Great Depression. (See: "A Tale of Two Depressions," by Barry Eichengreen and Kevin H. O'Rourke. June 4, 2009.)
The difference is that the nations are running high deficits, but the funds are not flowing to Main Street. Furthermore, the funds are flowing to relieve gamblers of their gambling debt. The money is going into "buying" toxic securities. Technically, the situation intentionally created by the boom-and-bust sorcerers is worse than the Great Depression.
Their plans are hardly even Band-Aids. They're going to require mortgage issues to keep some immediate risk rather than passing it all off via securitization. Right, and how long will it be before the Reaganites come out of their graves chanting deregulation, deregulation? Why are the people suffering paying high taxes effectively nationalizing banks while planning to give the businesses right back to the predators? Why have a United States that's not united but rather based upon selfishness. A house divided against itself cannot stand. Why be inconsistent? Why try to balance and compromise in coercion? Why not go all the way to what's right? I mean each and every soul deciding once and for all to turn to doing what's right.
BUT AREN'T SOME SUPERRICH PEOPLE SOCIALLY RESPONSIBLE AND GENEROUS?: THE BILL AND MELINDA GATES FOUNDATION
The Bill and Melinda Gates Foundation
"[A]t least $8.7 billion, or 41 percent of its assets, not including U.S. and foreign government securities...have been in companies that countered the foundation's charitable goals or socially concerned philosophy," the Times reported.
For example, the foundation has stock from corporations "ranked among the worst U.S. and Canadian polluters, including ConocoPhillips, Dow Chemical Co. and Tyco International Ltd," wrote the Times. The Gates fund invests in "many of the world's other major polluters, including companies that own an oil refinery and one that owns a paper mill, which a study shows sicken children [in a Nigerian town] while the foundation tries to save their parents from AIDS." Then there's the "pharmaceutical companies that price drugs beyond the reach of AIDS patients the foundation is trying to treat," the Times reported. (Source: "How the other 0.00000003 percent lives," by Adam Turl. June 8, 2009.)
BAPTIST FOUNDATION OF ARIZONA
William Pierre Crotts and Thomas Grabinski of the Baptist Foundation of Arizona were sentenced to eight and six years in prison, respectively. They defrauded Baptists in a Ponzi scheme. The investors were often retirees. The investments were mainly in the Arizona real estate bubble that burst. Crotts and Grabinski covered up the losses and kept paying out by using new investor money, just like Bernie Madoff.
Now, what could those retirees have done instead? They could have contributed to the Christian Commons. The Commons wasn't there yet, but what I mean is that had the "Christians" been doing what Jesus called and still calls them to do, the Commons would have been there for them. They would not have lost everything and died before recovery. The capitalist system that is based upon self apart from God and upon greed destroys. It devours widow's houses.
We need to start the Christian Commons. A few bits of mammon here and there put into the Commons will translate that evil, just as Jesus says to make the whole tree good. It has to start. If enough people give a little and some want to go all the way to even live and work on the Commons, then that will be the beginning. It will shed the needed light among the nations.
VOTERS NOW TRUST REPUBLICANS MORE THAN DEMOCRATS ON ECONOMIC ISSUES: SINCE WHEN DID THE REPUBLICANS LOSE CONTROL OF THE FEDERAL RESERVE AND THE U.S. TREASURY?
Voters Now Trust Republicans More than Democrats on Economic Issues
Voters now trust Republicans more than Democrats on six out of 10 key issues, including the top issue of the economy. The latest Rasmussen Reports national telephone survey finds that 45% now trust the GOP more to handle economic issues, while 39% trust Democrats more.
The Republicans caused the problem, and so far only Republican ideas have prevailed in the Obama administration. Obama did not put core Democrats (the party of the people versus property) in charge of the economy. Wake up!
LAWMAKERS INVESTED IN BAILED-OUT FIRMS
Conflict-of-Interest Questions Arise 11 Jun 2009 Top House lawmakers had considerable holdings in major financial institutions that took billions of dollars in taxpayer bailouts at the end of last year, according to annual financial disclosure reports released yesterday. From stock holdings to retirement funds to mortgages, more than 20 House leaders and members of the House Financial Services Committee had large personal stakes in the Wall Street powerhouses whose collapse last year led to an unprecedented government intervention in the marketplace.
(Source: "Lawmakers Invested in Bailed-Out Firms: Conflict-of-Interest Questions Arise," by Paul Kane and Carol D. Leonnig. Washington Post. June 11, 2009.)
Well, of course, this comes as no surprise. The bankers own everything and everybody, but not my soul.