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124 Comments
- inactive, on 09/28/2008, -3/+721. Government creates a mess
2. Government/Media blames free markets/individuals/civil liberties/businesses
3. People cry out for more Government
Repeat steps 1-3 until desired complacency, wealth, control, and/or level of suffering. - inactive, on 09/29/2008, -9/+77RON PAUL WAS RIGHT ABOUT EVERYTHING.
- Richandler, on 09/28/2008, -0/+34This is actually a very important point. This is the reason why the bailout isn't being done by wallstreet. It's seen as huge liability. These politicians don't know anything about economics I don't know why we let them handle our money.
- inactive, on 09/28/2008, -0/+28It's like pouring water into Gatorade and expecting it to magically remain just as flavorful.
Essentially, this bailout will "water down" an already weak dollar. Changes in crude oil the past several weeks can be attributed to wild fluctuations in the dollar (not supply/demand). So if you think gasoline, food, and health care are expensive now, just wait until they pass this bailout and ruin the currency.
http://stockcharts.com/charts/gallery.html?$usd -- Let the money supply deflate (and markets fix themselves) or it's going to be a lot worse in another few months when this ridiculous bailout fails and your dollars are worth less.
Ahem, Worthless** - paintgrl, on 09/28/2008, -0/+22Ugggg, please wake me up when the nightmare is over. Great article, but now I feel sick.
- inactive, on 09/28/2008, -0/+21Call (202) 224-3121: U.S. House of Rep. - They're open & answering
- EricDrawback, on 09/29/2008, -0/+21The sick thing is, regardless of how many phone calls are made or how low this bailout polls with the American people, it will surely pass. How are we supposed to trust our government if they won't even let us read the legislation?
- mediumofmeaning, on 09/08/2009, -1/+21impossible; numbers stop at 1 trillion.
- justiceape, on 09/29/2008, -0/+18Buy gold. I have one amazing economic prediction we can all agree on: INFLATION.
- inactive, on 09/29/2008, -0/+15We're not screwed yet! Join the Action Alert Squad! http://www.campaignforliberty.com/blog/?p=608
- Ebacherville, on 09/29/2008, -3/+17naa 5 trillionb injected intot he economy will never cuase hyperinflation... never..
were so so so screwed - Gregus1032, on 09/29/2008, -2/+15WE DIDN'T LISTEEENNNNNNNNNNNNNNNNNNNN
- affiliate, on 09/29/2008, -0/+13Printing more money, basic laws of econmics, more supply = less demand = less value.
- Cwolf267, on 09/29/2008, -1/+13How can we prosecute the people involved in this if they're running/buying out the courts?
Obama and McCain both agree with the bailout... Sometimes it feels like the only thing that separates America and Fascism is an extra party. - edmondburke, on 09/28/2008, -2/+14Excellent. Tks Heartland
- FaithclubDotNet, on 09/29/2008, -0/+12And don't forget interest. Even if it is "only" 700 billion now it still will end up being in the trillions if we don't pay back our entire national debt in under 10 years.
- PabloMac, on 09/29/2008, -0/+11This really motivates me to make sure I pay every cent the government says I owe in taxes.
- gentlax13, on 09/29/2008, -0/+10Easy enough, this whole thing violates the constitution.
- jeffmurphy, on 09/29/2008, -0/+10Also note that the new 100+ page bail-out Bill, basically allows the courts to review things, but not take action. Note that courts are not allowed to issue injunctions over things they find objectionable. They may only issue an injunction if the action clearly violates the Constitution.
http://i.cdn.turner.com/cnn/2008/images/09/28/ayo0 ...
Page 58 lines 17-21
What BS. - dizilbdog, on 09/29/2008, -0/+10Did everyone notice Ron Paul has been on t.v more than I have ever seen, uhm when can we listen to him??? Also this bailout folks well there will probably be another next year or a couple of months, basically what the government is doing is how should i put this. Throwing gasoline on a fire.
- mcsenget, on 09/29/2008, -0/+10I listened.
I gave about $1300 to his campaign and I mentioned him as often as I could to all the people I knew, searching for somebody who would understand. - falser, on 09/29/2008, -1/+10More generally the scenario goes:
1) Secretly create a problem
2) Stoke anger, fear, outrage
3) Devise a solution where power is transferred to those who originally created the problem
It has been used throughout history. Hitler used it to diabolical consequences. Bush has used it several times now during his presidency. And the right wingers are no doubt creaming their pants with how much power they will wield over the United States and the world once the transfer of all banking power is granted to them.
Think about it. The US dollar is the world's reserve currency. All products traded in global markets are priced in US dollars. And who will have authoritarian control over every dollar borrow, spent, and printed? Paulson will be the most powerful person the planet once Bush signs on the dotted line. - Pinkertinkle, on 09/29/2008, -1/+10That's like a new benz for every american.
- richmomz, on 09/29/2008, -1/+10"Debt doesn't matter." - Dick Cheney
- nysus, on 09/29/2008, -0/+9Listen to this, a must: http://thislife.org/Radio_Episode.aspx?sched=1242
It's an NPR radio report that lays out exactly what happened and why the mortgage industry is blowing up. This is from back in May. - JapaneseEconomy, on 09/29/2008, -0/+8Its the premeditated wholesale rape of America.
Interesting. He was saying Wall Street execs received a $39 billion dollar bonus last year.
Digging on google there are more articles to back up what the he said:
http://blogs.abcnews.com/politicalpunch/2008/09/la ...
http://thinkprogress.org/2008/09/22/39-billion-the ...
The collapsed Lehman Brothers themselves just gave their own execs a $2.5 Billion dollar bonus. Thats just a bonus ontop of the ridiculous amounts they already earn.
http://www.huffingtonpost.com/2008/09/22/outrage-a ...
Oh btw I'm not japanese, just of japanese descent. - theskillwithin, on 09/29/2008, -0/+8why not the owner of the company
- locojones, on 09/29/2008, -0/+7The sad part is 80-90% of Americans polled are against the legislation, yet the Congress will pass it anyway. So much for the representational part of our democracy (yes I know it's really a representational republic).
- thereisnostate, on 09/29/2008, -0/+7Bingo.
Here is a video explaining the intricacies of the scam that is US monetary policy. http://www.youtube.com/watch?v=XBT052jHnmE - dagnome1984, on 09/29/2008, -0/+7Not only that but the reserve requirement will be dropped to zero given the latest known draft of the bill. Nancy said we will only get to look at the final draft 48 hours after the bill passes.
- inactive, on 09/29/2008, -0/+7Yeah...except instead of getting a Benz we're getting anally raped by the ***** that got us into the whole subprime crisis.
- JDex, on 09/29/2008, -0/+6Dugg for 1,300 trillion. 1,300,000,000,000,000.
1.3 Quadrillion = False Money + Sham Economy + Pitiful Economics Education System + Corrupt Politicians + Shameless Greed = BigFukkinFail
Flush it all away. - computerjunkie, on 09/29/2008, -3/+9Okay Troll I'll bite. What racist stuff did he say?
- inactive, on 09/29/2008, -0/+6100 FIFILLION GAJILLION DOLLARS!!
I'd like to know where they think this money comes from :) - gentlax13, on 09/29/2008, -0/+6How about the financial institutions sacrifice themselves. They're the culprits here.
- gentlax13, on 09/29/2008, -0/+6Did I miss the article? All I saw was a brief video that explained very little.
- inactive, on 09/29/2008, -0/+6Only an idiot would still try to claim Ron Paul is a bigot.
This assertion was completely debunked in January and anyone still claiming Ron Paul is anything but a good and decent man needs a rubber room and straitjacket.
Even in the article you linked to there is an interview with Paul that repudiates the lame assertion.
Learn to read.http://digg.com/politics/Ron_Paul_is_Not_A_Bigot_R ... - SetOverSet, on 09/29/2008, -1/+7The thing that really pisses me off is that we ought to be taxing the people who had their homes foreclosed. They signed the loan, made the bad decisions. If you had your home foreclosed, you should be pay like a 15 year idiot tax....and don't give me any crap about them not having money to pay that tax. It would obviously be less than whatever their monthly payment would have been.
- GorfTron, on 09/29/2008, -0/+5Wait till the zombies hit.
- Echota, on 01/05/2009, -0/+5This is a very good article but I think I need to go lay down for awhile now.
- LordRahl72, on 09/29/2008, -0/+5I wonder at what point it would be safe to jump off this sinking ship?
- inactive, on 09/29/2008, -0/+5over 9000?
- dagnome1984, on 09/29/2008, -1/+6Yes, because worthless paper is profitable. Yeah let's debase the currency further by rewarding stupid behavior. Then we will be in even greater trouble. Sure the bail out might prop up the economy in the short term until foreign nations start to take notice of how worthless the dollar is as a reserve currency then start dumping them onto the market. Sounds like a great plan!!
If the loans were profitable in the first place the banks wouldn't be dumping them onto the tax payer. - mshtml, on 09/29/2008, -0/+5The assets are worthless. Its bad mortgage debt that holds no value.
- Ymeg, on 09/29/2008, -0/+5Do you know how much 5 trillion is?
- KSUdesigner, on 09/29/2008, -0/+5They'll let you read the legislation, they just won't let you do anything to change it or stop it.
http://i.cdn.turner.com/cnn/2008/images/09/28/ayo0 ... - lalalalamppost, on 09/29/2008, -0/+4It comes from your future.
- jinsundo, on 09/29/2008, -0/+4"$700 Billion Bailout Could Balloon to $5 Trillion"
Please lets be exact here. That's 700 billion to 5 trillion give or take a few bazillion. - thunderer, on 09/29/2008, -0/+4The scary thing is that even if he put all his money into this, he could only come up with just over 8.1% of the total amount that is currently requested. That's how screwed we are.
- mrgeekguy, on 09/29/2008, -1/+5Wall Street Executive compensation last year= $69 Billion dollars. Wow, did those ***** sucking, baby eating, dog *****, ***** licking bastards earn every penny!
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