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508 Comments
- Berkana, on 10/04/2008, -9/+454Economic FAIL. Give us our money back and let them fall; these ridiculous incompetents have no business getting any more money.
- derflan, on 10/04/2008, -19/+233FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCCCCCK
- ashwin100, on 10/04/2008, -4/+214UUUUUCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK
- Clbull, on 10/04/2008, -4/+179The Great Depression 2.0
- inactive, on 10/04/2008, -14/+168It's OK. They were trying to drive the government into insolvency. We'll get massive inflation and other countries and global corporations will buy up all the land and infrastructure and we'll just have to pay to use everything here. Everyone will be happy. The conservatives get complete deregulation, the libertarians get extremely small government, and the liberals get socialism... corporate socialism that is. Think of it like a big privately owned penitentiary. Just like Warren buffet predicted. We'll be sharecroppers of sorts.
- brad3378, on 10/04/2008, -12/+136So what will we name this Depression?
The Great Depression II ?
The 2nd Great Depression?
The Greater Depression? - funkedup, on 10/04/2008, -4/+89Yes, this is atrocious. We need to move away from a two-party system. Nothing is going to change unless the Demopublicans are out of Washington. No candidate, major media network, or governmental authority is telling the people what actually is happening. These bills are being passed without the public's consent. This needs to change!
No matter what your political affiliation is, we as the American people need to stand up and say, "This is enough, We've had it, and we're not going to take it anymore!!!" - algaeturd, on 10/04/2008, -1/+83I personally prefer, "The Not-So Great Depression"
- inactive, on 10/04/2008, -5/+76Oct. 2 (Bloomberg) -- If you think this bailout is expensive, just wait until you see the next one.
http://www.bloomberg.com/apps/news?pid=20601039&re ... - DeathJux, on 10/04/2008, -3/+72What are you, some sort of hat nazi?
- DeathJux, on 10/04/2008, -5/+70For those of you just tuning in, we have a 137-character "*****" that is apparently so long, it surpasses the boundaries of Digg.
I feel your pain. - raisputin3, on 10/04/2008, -18/+79They shouldn't have got hat theyare getting in the first place!
- BurningSky, on 10/04/2008, -6/+66I sent a letter to my representative...
Dear Mr. Holt:
Thank you for the quick and lengthy reply. I appreciate your sense of duty
to maintain a dialogue with your constituents. However, I must say that I
fundamentally disagree with your decision to turn a blind eye to the
majority of Americans by voting yes for this bill
(http://tinyurl.com/4gox6n). Understand that this issue is the defining
issue of this generation, so your failure to listen will cost you my vote
and the vote of everybody I know come November 4th.
Here's why.
You said, "I share my constituents' anger about this mess and how we got
here. The government did so much wrong, and while Democrats in Congress
tried to set them straight many times, we obviously did not do so strongly
enough."
The blame for this economic mess does not fall solely on Republicans,
Democrats, Wall Street Suits, or Irresponsible Homeowners. Here are the
facts.
The federal reserve cut interest rates to a record low after the dot-com
bubble, allowing homeowners to purchase houses beyond their means. Both
Republicans and Democrats are to blame for supporting mortgage tax
deductions which gave additional incentive to these buyers. Real estate
agents continually sold large houses to families that couldn't afford them
so that they could make more commission. The Clinton Administration pushed
hard for low down-payment requirements for middle and low class families.
Mortgage brokers gave uncredited buyers adjustable loans with interest
rates that grew exponentially over time. Wall Street firms turned these
high risk loans into Mortgage Backed Securities, while the Bush
Administration turned a blind eye. Finally, it was everybody's fault to
believe that the housing bubble would continue expanding indefinitely.
(http://tinyurl.com/4tsmnf)
Market bubbles, by definition, must pop. We are at a critical moment in
America's economic history, and we need to choose our actions wisely. The
right thing to do is to let the financial institutions at fault collapse,
which will provide opportunity for a larger number of smaller banks to
take their place. More banks means more competition. This will drive
housing prices down to their true worth while providing new jobs in the
banking sector.
At this point, depression is inevitable. We should take our punches now by
letting the conglomerate banks fail, having the market correct itself in a
year or so. Instead, you've decided to print $800+ billion dollars in
order to temporarily save these failed institutions. Instead of allowing
the market to correct itself, you've inflated the bubble to the point that
a pop would cause global economic Armageddon. Where is the $800 billion
coming from? Surely not through taxation, that would bankrupt millions of
Americans causing riots in the streets. No, the plan is to create this
money from thin air, destroying the value of our currency and driving the
price of necessities sky high.
By voting yes for this bill, you've made your choice. Unfortunately, it
was the wrong one, and America will pay the price. You and everybody who
voted for this bill are to blame for the inevitable economic crisis that
will come, so don't be surprised when you lose reelection on November 4th.
You'll have earned it.
Sincerely,
Matt Brinn
Concerned Citizen - inactive, on 10/04/2008, -5/+631 quadrillion dollars.
- Rotzooi, on 10/04/2008, -4/+54http://i182.photobucket.com/albums/x58/fuchsiachap ...
- bsmeteronhigh2, on 10/04/2008, -9/+59In best mobster type voice: Course they want more. Jeez, your lame ass congress crapped all over themselves and bent over. Did any of them tell Paulson and the rest to go sharpen their f%&#@%ing pencils? Nope, they bent over, spread their sphincters and took it where the sun don't shine. These are our best negotiators? Of course the investment banks are gonna come back and ask for more...these elected officials are about the easiest marks in the world. Maybe they should grow some and then go back to the investment banks and offer a lead-for-gold exchange program to the executives to loosen up the credit markets. Just sayin' cause you know that'll get rid of the ***** eatin grins faster than an ex-lax brownie at a pay toilet convention.
- diggit23, on 10/04/2008, -2/+50Boy was this a bad time to graduate...
- teh_techie, on 10/04/2008, -5/+51KKKKKKKKKKKKKKKIIIIIIIIIIIIIIIIIIIIIIIINNNNNNNNNNNNNNNNNNNNGGGGGGGGGGGGGGGGGGGGG
- inactive, on 10/04/2008, -2/+47Give us our money? I wish it was that simple. This money came out of thin air, producing the deadliest tax of all for us and our children, the inflation tax.
- inactive, on 10/04/2008, -5/+50The Economic 9/11!..
Adds a ring and might help McBush get elected - inactive, on 10/04/2008, -11/+54The whole financial system has been doomed since 1913.
The Federal Reserve system is a debt money system. It forces the American people to pay interest just for the Fed to make money. Why can't the Government just make the money itself and pay no interest on it?
Abraham Lincoln and John F. Kennedy both had the courage to stand up to the international bankers and fight for justice. They have both gone down in history as being true patriots of the United States. They both payed the ultimate price for their patriotism.
Why were they killed?
Abraham Lincoln
Lincoln printed 400 million dollars worth of Greenbacks (the exact amount being $449,338,902), money that he delegated to be created, a debt-free and interest-free money to finance the War. It served as legal tender for all debts, public and private. He printed it, paid it to the soldiers, to the U.S. Civil Service empoyees, and bought supplies for war.
Shortly after that happened, "The London Times" printed the following:
"if that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in th history of the civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed, or it will destroy every monarchy on the globe."
The Bankers obviously understood. The only thing, I repeat, the only thing that is a threat to their power is sovereign governments printing interest-free and debt-free paper money. They know it would break the power of the international Bankers.
The bankers came together and came up with a plan to end Lincoln's interest-free, debt-free Greenbacks. He was assassinated by an agent of the Bankers shortly after the War ended.
Thereafter, Congress revoked the Greenback Law and enacted, in its place, the National Banking Act. The national banks were to be privately owned and the national bank notes they issued were to be interest-bearing. The Act also provided that the Greenbacks should be retired from circulation as soon as they came back to the Treasury in payment of taxes.
John F Kennedy
President Kennedy was not afraid to "buck the system", for he understood how the Federal Reserve System was being used to destroy the United States. As a just and honorable man, he could not tolerate such a system, for it smelled corruption from A to Z. Certainly he must have known about the Greenbacks which Abraham Lincoln created when he was in office.
On June 4th, 1963, President Kennedy signed a presidential document, called Executive Order 11110, which further amended Executive order 10289 of September 19th, 1951. This gave Kennedy, as President of the United States, legal clearance to create his own money to run the country, money that would belong to the people, an interest and debt-free money. He had printed United States Notes, completely ignoring the Federal Reserve Notes from the private banks of the Federal Reserve.
Our records show that Kennedy issued $4,292,893,825 of cash money. It was perfectly obvious that Kennedy was out to undermine the Federal Reserve System of the United States.
But it was only a few months later, in November of 1963, that the world received the shocking news of President Kennedy's assassination. No reason was given, of course, for anyone wanting to commit such an atrocious crime. But for those who knew anything about money and banking, it did not take long to put the pieces of the puzzle together. For surely, President Kennedy must have had it in mind to repeal the Federal Reserve Act of 1913, and return back to the United States Congress the power to create its own money.
It is interesting to note that, only one day after Kennedy's assassination, all the United States notes which Kennedy had issued were called out of circulation. Was this through an executive order of the newly-installed president, Lyndon B. Johnson? Or was he one of their instruments? At any rate, all of the money President Kennedy had created was destroyed. And not a word was said to the American people.
Mark my words, the age of information is now. The internet cannot be silenced. - inactive, on 10/04/2008, -5/+45yeah, the ***** want to lower interest rates on Monday by a half percent...they want to try to extend the bubble but it's to late.
- nibkey, on 10/04/2008, -2/+41The Day The Dow Turned Emo.
"What's the point of investing, the whole world like, sucks and *****." - MrMax182, on 10/04/2008, -3/+42Large Depression Collider
- PabloMac, on 10/04/2008, -1/+39Revolution.
- DoctorFaust, on 10/04/2008, -2/+39Ctrl+Z
- vtnerd, on 10/04/2008, -4/+40McBama*
Lest you forget that Obama is supporting these stupid bailouts just as much as Bush and McCain. - inactive, on 10/04/2008, -6/+41american education is too poor for americans to realize what is happening to them. right now they are distracted by a shiny new electronic to realize that their elected government is standing behind and slowly pulling out the bills from their back-pocket.
- Dumbledorito, on 10/04/2008, -2/+36Depression 2: Electric Bushaloo
Depression II: Depression Harder
Depression II: The Wrath of Khredit - Meocross, on 10/04/2008, -4/+38GGGGGGGGGGGGGGG PATHETIC!
- inactive, on 10/04/2008, -3/+31RP and Baldwin told you.
They've been telling you for years. - nibkey, on 10/04/2008, -1/+28Er ist ein Fedoraführer!
- rocke86, on 10/04/2008, -3/+30It will be called the "Collapse of the United States of America". Soon after the North American Union and a unified currency will be formed.
If you live in the US you should be very worried, lots of people will die during the transition. - DeathJux, on 10/04/2008, -7/+34lol @ "read it and weep"
We are so *****. - shirov, on 10/04/2008, -9/+35Nader warned us about this. Time to stop thinking that it is a waste to go third party and realize that the BOTH the DEMS and REPUBS are selling us out. http://www.votenader.org/media/2008/10/03/backward ...
Nader called for the speculators to fund their own bailout:
"Ask why they didn't require speculators to fund their own bailout while you, the taxpayer, pay 5-10 percent sales tax for necessities. Speculators buy $500 trillion of securities derivatives each year and don't pay one penny. A mere 1/10 of 1 percent sales tax on purchases of these derivatives would raise $500 billion per year to pay for their bailout. Let the speculators fund their own bailout."
Obama and McCain want us to pay for it. - Lunarsight, on 10/04/2008, -1/+27How about: The Depression Reloaded ??
- nibkey, on 10/04/2008, -6/+31Depression Vista
- fx666, on 10/04/2008, -2/+27More than 100 economists warned that the bailout could do more harm than good, they even sent a letter to the White House explaining the danger. But lawyers have no knowledge of the economy, so the Congress followed Paulson's recommendations without taking into account his Wall Street background.
- plumcider, on 10/04/2008, -5/+29The president, every congressman, and every senator that voted to pass that bill has betrayed their country, and the citizens they work for. Every one of them should be charged with treason.
- inactive, on 10/04/2008, -2/+25I'm very slowly starting to piece together all the parts of the Jigsaw puzzle
Why was Ron Paul so heavily suppressed by the media in his campaign attempt?
Ron Paul posed a direct threat to the Federal Reserve System. The Federal Reserve System is what keeps the international bankers in power. You take that away, you take away their control. Ron Paul wants to follow in the footsteps of JFK and restore sovereignty to the nation by abolishing the Fed.
So why were the mainstream media motivated to suppress Ron Paul's popularity?
It would be easy to say that International bankers and the mainstream media are one and the same. The international bankers have extreme influence over the media. American TV channels and newspapers are a confusing mess of conglomerates and subsidiaries. Meaning that a multitude of different 'brands' (CBS, CNN, Washington Post, New Yorker, Time Magazine, NBC etc) can appear to be different, but are ultimately owned by the same group of individuals. These individuals have extreme influence over what material or ideas are promoted, discouraged and silenced.
By influencing the media, one can can influence public awareness about an individual. In summary, RP was heavily suppressed by the media because the media is underlyingly influenced by the international bankers.
Here's a picture of the media conglomerate structure and here's a video:
http://au.youtube.com/watch?v=JPlvdSQ6cAM
http://www.lovearth.net/mediamoguls.jpg - Radan, on 10/04/2008, -1/+24Meh, I never update to X.0.0 versions. Too many bugs.
- ISIfunded911, on 10/04/2008, -7/+30I hope that the sheep on Digg who blindly support Obama will wake up. They tried to convince themselves that this Paulson plan was right by putting an article from the Economist on the front page of Digg, not realizing that any magazine can select a few economists among thousands (or millions?) who support this plan.
What matters is quality. And surprise, surprise: all the American economists who received a Nobel prize are against the Paulson racket!!!
Joseph Stiglitz, Nobel Prize Winning Economist: “There is a kind of suggestion in the Paulson proposal that if only we provide enough money to financial markets, this problem will disappear. But that does nothing to address the fundamental problem of bleeding foreclosures and the holes in the balance sheets of banks.” Washington Post, 9/26/08
Robert Lucas, Nobel Prize Winning Economist: “It doesn’t seem to me that a lot decisions that we’re going to have to live with for a long time have to be made by Friday. The situation may get urgent, but it’s not urgent right now. Right now it’s a financial sector problem.” Bloomberg, 9/26/08 - powatom, on 10/04/2008, -2/+24Oh really - you don't say! This wouldn't happen to be exactly what the vast majority of people said would happen, would it? Well, blow me down!
- inactive, on 10/04/2008, -3/+25Your error is thinking that a system that failed you so many times works.
The bailout is like giving money to a homeless crack addict. - algaeturd, on 10/04/2008, -14/+36Economy to your dollar: "OM NOM NOM NOM.....nom..nom?"
This is ***** pathetic. The billionaire money machine needs BLOOD! Your dollars are worthless.
I hope EVERYONE keeps track of voted for this GIGANTIC FAILURE. When we look back and our kids look back, they'll know it started with Bush out of control spending, deregulation and a complete failure by both the house and the senate to use their ***** BRAINS.
This is going to end very, very, very badly. Ron Paul compared it to the falling of Soviet Russia in 1989. The upside? We have no more money to attack other countries. So looks like Bush shot the wad before his reign of terror came to an end. Perfect time, eh George? - shirov, on 10/04/2008, -8/+29And all the while they are chanting "Obama, Obama, Obama", never realizing that he has sold us out as well...
- inactive, on 10/04/2008, -6/+27WHAT THE *****!
- inactive, on 10/04/2008, -3/+24Great Depression 2: Electric Boogaloo
- Narrwald, on 10/04/2008, -1/+22I would hardly call "shiny new electronics" the cause for the typical American citizen's nonaction. The poor education is a little closer to the mark. Most people have absolutely no idea what this "bailout" is going to actually bring.
They begin to get an idea when you ask them who exactly is going to pay for it. They (we) will say the government, and then you ask where they get the money... They (we) think, and answer "taxes". Well, if every single American citizen were actually old enough to pay taxes, we would all be paying nearly $2500 extra to get rid of this governmental blunder.
Who actually thinks that will happen? The government will borrow, not place a tax so hefty that the typical family couldn't stomach it on us all. More borrowing = faster inflation = the need for more credit / loans = another situation identical to the one that spawned this ill conceived "rescue plan". - avasol, on 10/04/2008, -0/+20They just pulled of what will be known as the biggest robbery of national treasure, ever.
How do you know? They're smiling, and we can't do dick about it. -
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