dagblog - Comments for "Going Out Of Business"

Those tend not to turn out

cmaukonen — Sat, 05 Mar 2011 22:55:52 +0000

In reply to Hell, why not a cultural

Those tend not to turn out very well.

Hell, why not a cultural

Saladin — Sat, 05 Mar 2011 19:42:55 +0000

In reply to Seems the Crash of 1929 and

Hell, why not a cultural revolution too?

Obey, I'm serious as a heart

Beetlejuice — Sat, 05 Mar 2011 16:57:27 +0000

In reply to You can't be serious here,

Obey, I'm serious as a heart attack.

It's their game and their rules. So they either follow through or shut up.

They know they have the advantage, but The Boner and McConnell just aren't sure if they can control the events once the ball starts rolling. That's why I want the tea-baggers to push harder, forcing the GOPer leadership to go down the road they're sure will lead to their political destruction.

And it not about me...it's about politics being the property of commerical industry rather than the public. We're at a point where it may be easier to start all over again from scratch. Just need to make the point one political faction's ideas and policies was so far off base it brought the nation down to its knees. The longer it takes to fall, the harder the fall will be and longer to recover.

Oh no worries there Beetle.

cmaukonen — Sat, 05 Mar 2011 16:19:45 +0000

In reply to And that's why I want it to

Oh no worries there Beetle. With Wall Street still trying to make money out of nothing, massive collusion and corruption in this matter in both Wall Street and Washington, fighting imperialistic un-winnable wars with out end that are bleeding the country dry, our leaders crying "Damn the torpedoes. Full speed ahead !" and our energy being depleted at a record rate - this outcome is a study in for gone conclusions.

You can't be serious here,

Obey — Sat, 05 Mar 2011 15:36:00 +0000

In reply to Seems the Crash of 1929 and

You can't be serious here, Beetle. You're advocating mass suffering on a huge scale, just so you (or we progressives) can be ... proven right.

Beyond that, what I do agree with is that it should be harder for a minority party to block the majority from governing as they had campaigned. The two main political parties in the US - and the political debate quite generally - have become so childish-slash-deranged in tone and content in good part because they will never be expected to do as they say, nor be held accountable for what they do.

And that's why I want it to

Beetlejuice — Sat, 05 Mar 2011 14:51:13 +0000

In reply to Oh but Beetle...both the

And that's why I want it to crash and burn with their names all over it. To drive the point home 40 years in nothing more than a blind of the eye.

Oh but Beetle...both the

cmaukonen — Sat, 05 Mar 2011 13:38:18 +0000

In reply to Seems the Crash of 1929 and

Oh but Beetle...both the Republicans and the Democrats did learn a very valuable lesson from the Great Depression and the the crash of '29.

That if it happens on YOUR watch, you are political toast for the next 40 years or so. So you do what ever you need to to prop the economy up and make it Look Good so when it does go into melt down, it will be when the other guy is in power.

Seems the Crash of 1929 and

Beetlejuice — Sat, 05 Mar 2011 11:44:00 +0000

In reply to Going Out Of Business

Seems the Crash of 1929 and the Great Depression wasn't enough to convince the public the GOPer's support banks and business over the public they serve. With all the political turmoil going on in Congress and the States it seems we're right back where we started

In my opinion, the only way to get out of the rut the GOPer's got us into would be if The Boner and the GOper's in the House refuse to pass the budget insisting on that $100 billion cut and default on Treasury bond debt obligations. And I sincerely hope the tea-baggers are leading the charge on all fronts. Furthermore, I'd even support Sarkozy's efforts to removed the dollar as the base currency for all international transactions. In short, I really want the GOPer's to really give the public exactly what they're promising without any exceptions. And let's include governors and their legislators killing off unions, priviatizing schools, roads, parks and recreations areas, and other public service entities all in the name of lowering taxes.

Why?

It would make the US crash real hard. So hard it would be difficult to pick up the pieces and put it back together again.

For what purpose?

It's the only way to prove once and for all to those who are avid followers of GOPer's their policies haven't the bouyance necessary float on water and once implemented they sink at the constant rate of an object in free fall.

Once at the bottom, the rest of us will have to pick up the pieces to rebuild what was destroyed, but at least the voice of the right would be silenced simply because they put us in those dire straits to begin with.

Thats not all. The original

cmaukonen — Fri, 04 Mar 2011 16:38:47 +0000

In reply to I would not be surprised if

Thats not all. The original TARP was not about Main Street or the consumer or the little guy. It was about paying of bets. Matt Taibbi - bottom post.

Jim,
I got that from my friend Nomi Prins’s book, It Takes a Pillage. Nomi, who used to be a VP at Goldman but is now one of the leading authorities on where the bailout monies have been spent and why, frequently makes the point that the bailouts were more about paying off bets than they were about stabilizing the economy. This is from her second chapter, “This Was Never About the Little Guy”:

Here are some numbers for you. There were approximtely $1.4 trillion worth of subprime loans outstanding in the United States by the end of 2007. By the first quarter of 2009, there were forclosure filings against approximately 4.4 million properties. If it was only the subprime market's fault, $1.4 trillion would have covered the entire problem, right?

Yet the Federal Reserve, the treasury, and the FDIC forked out $13 trillion to fix the housing “correction”… With all that money, the government could have bought up every residential mortgage in the country – there were about $11.9 trillion worth at the end of December 2008 – and still have had about a trillion left over to buy homes for every American who couldn’t afford them.

I would not be surprised if

NCD — Fri, 04 Mar 2011 16:07:04 +0000

In reply to Going Out Of Business

I would not be surprised if The Fed's money printing (0% Discount Window, and Bernanke's QE2) is primarily aimed at stopping the bleeding in housing to help the banks. The trouble is, the only stuff going up in price so far is food and oil which leaves people with less money to buy a house, and world wide these price increases destabilize some countries leading to more shortages of food, oil and other commodities.