| StockFetcher Forums · General Discussion · POLITICS GOES HERE | << 1 ... 31 32 33 34 35 ... 76 >>Post Follow-up |
| petrolpeter 439 posts msg #94636 - Ignore petrolpeter |
7/8/2010 9:53:57 AM We certainly need a different man at the top,some one who isn't creating his own 'false law' and overseeing them with czars.And of course drown society in debt,perhaps so he can choose who financially survives or who his administration declares bust to help rid what he deems bad elements in his "changed "America.Might as well throw illegal immigrants into the mix to weaken us further.Maybe November there will be a shift away from this administration,far away I hope. |
| crunkle 54 posts msg #94661 - Ignore crunkle |
7/9/2010 11:39:18 AM The economy is SO BAD that: I got a pre-declined credit card in the mail. I ordered a burger at McDonald's and the kid behind the counter asked, "Can you afford fries with that?" CEO's are now playing miniature golf. If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them. Hot Wheels and Matchbox stocks are trading higher than GM. McDonald's is selling the 1/4 ouncer. Parents in Beverly Hills fired their nannies and learned their children's names. A truckload of Americans was caught sneaking into Mexico . Dick Cheney took his stockbroker hunting, Motel Six won't leave the light on anymore. The Mafia is laying off judges. Exxon-Mobil laid off 25 Congressmen. Congress says they are looking into this Bernard Madoff scandal. Oh Great!! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear! And, finally... I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Lifeline. I got a call center in Pakistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.. |
| TheRumpledOne 6,529 posts msg #94662 - Ignore TheRumpledOne |
7/9/2010 1:49:09 PM Too funny, Crunkle...lol!! |
| TheRumpledOne 6,529 posts msg #94663 - Ignore TheRumpledOne |
7/9/2010 1:50:37 PM johnpaulca Declaring war on Mexico is a little draconic, illegal immigrants are everywhere, some are good while some are bad. Enforcement of the laws is the solution....don't forget we were all immigrants at one time unless you're native American. ===================================== Draconic? In the old days, trespassers were shot on sight. Either we get serious about our borders or we won't have any borders to get serious about. |
| TheRumpledOne 6,529 posts msg #94664 - Ignore TheRumpledOne |
7/9/2010 1:52:56 PM petrolpeter We certainly need a different man at the top,some one who isn't creating his own 'false law' and overseeing them with czars.And of course drown society in debt,perhaps so he can choose who financially survives or who his administration declares bust to help rid what he deems bad elements in his "changed "America.Might as well throw illegal immigrants into the mix to weaken us further.Maybe November there will be a shift away from this administration,far away I hope. ========================================= Obama wants to create civil unrest so he can declare martial law. If you look close enough, you will see all of the pieces of the puzzle are there. New World Order is just around the corner. It will be labeled as the solution to the global economic problems. |
| johnpaulca 12,036 posts msg #94715 - Ignore johnpaulca |
7/12/2010 8:58:46 AM Saving Our Financial System I read an interesting piece on the financial crisis and what it could lead to on ZeroHedge. The whole article can be found here Sometimes, when chasing the bouncing ball of fraud and corruption on a daily basis, it is easy to lose sight of the forest for the millions of trees (all of which have a 150% LTV fourth-lien on them, underwritten by Goldman Sachs, which is short the shrubbery tranche). Luckily, Charles Hugh Smith, of oftwominds.com has taken the time to put it all into such simple and compelling terms, even corrupt North Carolina congressmen will not have the chance to plead stupidity after reading this. Of course, to those familiar with the work of Austrian economists, none of this will come as a surprise. 1. Enable trillions of dollars in mortgages guaranteed to default by packaging unlimited quantities of them into mortgage-backed securities (MBS), creating umlimited demand for fraudulently originated loans. 2. Sell these MBS as "safe" to credulous investors, institutions, town councils in Norway, etc., i.e. "the bezzle" on a global scale. 3. Make huge "side bets" against these doomed mortgages so when they default then the short-side bets generate billions in profits. 4. Leverage each $1 of actual capital into $100 of high-risk bets. 5. Hide the utterly fraudulent bets offshore and/or off-balance sheet (not that the regulators you had muzzled would have noticed anyway). 6. When the longside bets go bad, transfer hundreds of billions of dollars in Federal guarantees, bailouts and backstops into the private hands which made the risky bets, either via direct payments or via proxies like AIG. Enable these private Power Elites to borrow hundreds of billions more from the Treasury/Fed at zero interest. 7. Deposit these funds at the Federal Reserve, where they earn 3-4%. Reap billions in guaranteed income by borrowing Federal money for free and getting paid interest by the Fed. 8. As profits pile up, start buying boatloads of short-term U.S. Treasuries. Now the taxpayers who absorbed the trillions in private losses and who transferred trillions in subsidies, backstops, guarantees, bailouts and loans to private banks and corporations, are now paying interest on the Treasuries their own money purchased for the banks/corporations. 9. Slowly acquire trillions of dollars in Treasuries--not difficult to do as the Federal government is borrowing $1.5 trillion a year. 10. Stop buying Treasuries and dump a boatload onto the market, forcing interest rates to rise as supply of new T-Bills exceeds demand (at least temporarily). Repeat as necessary to double and then triple interest rates paid on Treasuries. 11. Buy hundreds of billions in long-term Treasuries at high rates of interest. As interest rates rise, interest payments dwarf all other Federal spending, forcing extreme cuts in all other government spending. 12. Enjoy the hundreds of billions of dollars in interest payments being paid by taxpayers on Treasuries that were purchased with their money but which are safely in private hands. Charles' conclusion does not need further commentary as it is absolutely spot on: Since the Federal government could potentially inflate away these trillions in Treasuries, buy enough elected officials to force austerity so inflation remains tame. In essence, these private banks and corporations now own the revenue stream of the Federal government and its taxpayers. Neat con, and the marks will never understand how "saving our financial system" led to their servitude to the very interests they bailed out. The circle is now complete: in "saving our financial system," the public borrowed trillions and transferred the money to private Power Elites, who then buy the public debt with the money swindled out of the taxpayer. Then the taxpayers transfer more wealth every year to the Power Elites/Plutocracy in the form of interest on the Treasury debt. The Power Elites will own the debt that was taken on to bail them out of bad private bets: this is the culmination of privatized gains, socialized risk. In effect, it's a Third World/colonial scam on a gigantic scale: plunder the public treasury, then buy the debt which was borrowed and transferred to your pockets. You are buying the country with money you borrowed from its taxpayers. No despot could do better. |
| crunkle 54 posts msg #94717 - Ignore crunkle |
7/12/2010 9:57:58 AM The Wonderful Wizard of Oz was published 110 years ago. The movie is 70 years old Today, if Dorothy were to encounter men with no brains, no hearts and no courage, she wouldn't be in Oz. She'd be in Congress. |
| TheRumpledOne 6,529 posts msg #94977 - Ignore TheRumpledOne |
7/22/2010 10:11:32 AM We really need a revolution... http://www.youtube.com/user/fiercefreeleancer That is the ONLY way we can stop this mess. |
| TheRumpledOne 6,529 posts msg #94987 - Ignore TheRumpledOne |
7/22/2010 2:16:05 PM Obama's Teleprompter Depression By Wayne Allen Root As a common-sense small businessman, I have a front-row seat to a slow-motion economic Armageddon that will be written about, discussed, and debated for decades to come. But big-shot economists don't listen to guys like me. They scoff as I keep predicting in commentary after commentary that small business is suffering a catastrophe of epic proportions and leading this nation toward levels of unemployment and economic crisis that will rival or surpass the Great Depression. Barack Obama is literally taxing small business to death. I do not believe the tragedy that is unfolding before our eyes is a mistake, a coincidence, or due to incompetence. I believe my old college classmate Obama (Columbia University class of '83) is a Marxist who is purposefully trying to destroy capitalism by overwhelming the system, thereby creating a distraction that gives him cover to redistribute America's wealth to his voters (i.e., those who create no jobs, pay few taxes, depend on government handouts for survival, or work for government or unions). As a bonus, he gets to bankrupt the group (small business) that contributes virtually all the money to his political opposition. This is truly a "Marxist Triple Play." Consider a few highlights of Obama's reign of destruction: The biggest income tax increase in America's history will take effect on January 1. The new tax increase falls almost 100 percent on small business owners and high-income taxpayers (whose contributions happen to fund Obama's political opposition). As a result, many more jobs will be lost and more businesses will be closed. A dramatic 60 percent capital gains tax increase (from 15 percent to 23.8 percent effective rate, including new universal health-care taxes) will accompany the big income tax increase. More jobs will be lost, more businesses closed. Taxes on dividends will increase from 15 percent to 39.6 percent, and then another 3.8 percent by 2013 for Obama's new health-care taxes. Stocks will be crushed and older Americans will be devastated (because they live off dividends, investments and bank interest). More lives ruined, more jobs lost. New taxes on income, investments, and even tanning-bed users soon take effect to pay for ObamaCare. Worse,18,000 new IRS agents will be hired to enforce these taxes (at a cost of billions annually in new government employee salaries, pensions, and benefits). More jobs lost. The pending cap-and-trade legislation threatens dramatic new taxes on anyone who owns a business, a home, an auto, or buys products manufactured or delivered through the use of energy. Once again, the more you own, the more you'll be taxed. More jobs will be lost, more manufacturing jobs sent overseas, more homes foreclosed. The pending financial reform bill threatens onerous new rules, regulations, and taxes on banks and Wall Street. More jobs will be lost and more banking and financial jobs sent overseas. The pending new jobs bill threatens gigantic new taxes on every Sub Chapter S corporation in America. More jobs will be lost and more small businesses ruined. The threat of a gigantic new national sales tax (VAT) on everything manufactured, bought, and sold in America looms large. Fewer jobs, reduced consumer spending, more businesses closed forever. Obama is pushing for the reduction or elimination of tax deductions (such as mortgages and charitable contributions) for high-income earners (mostly small business owners). More jobs lost, reduced charitable contributions, and the real estate industry damaged beyond repair. The threat of bans or restrictions on offshore oil drilling are being put permanently into place. More jobs lost and more jobs sent overseas where drilling is welcomed. As a bonus for Obama, he gets to ruin the Texas economy. All signs indicate that Obama will soon propose to take the income cap off FICA (Social Security) taxes. If this happens, a successful small business owner (if there are any left) could see his or her FICA taxes go from an already bloated and burdensome $15,000 per year to an unimaginable $150,000 or more. In U.S. history, no taxpayer has ever seen a ten-times tax increase in one year. This devastating nightmare will wipe out small business and cause people whom Obama calls "rich" to lose their homes and businesses. A new IRS law (with the passage of ObamaCare) requires business owners to file thousands of new forms each year documenting virtually every expenditures made by their businesses. As a result of this blizzard of new paperwork, small businesses face ruin. Let's not forget the gigantic tax hikes on the state and local level for income taxes, sales taxes, property taxes, and new taxes disguised as "user fees." Local taxes are already at levels that taxpayers and small businesses can no longer afford to pay. Finally, Obama refuses to consider lowering the second highest corporate tax rate (40 percent) in the industrialized world. As a result, more businesses will choose to leave the United States and more jobs will be sent overseas. Each of these taxes and proposed taxes is a job killer. Taken together, the Obama regime's policies are the equivalent of General Sherman's march to the sea - leaving a tragic path of destruction in its wake. Obama has launched an unprecedented, overwhelming, death-by-tax assault on the groups that fund fiscally conservative causes and candidates: taxpayers and business owners. And you wonder why there are no jobs? You wonder why there is no recovery? This is the "Teleprompter Depression." Every time Obama steps in front of a teleprompter, another thousand businesses die. |
| TheRumpledOne 6,529 posts msg #95109 - Ignore TheRumpledOne |
7/26/2010 4:17:29 PM http://www.infowars.com/steve-wynn-takes-on-washington/ |
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