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Death of the Economy

smirkingchimp.com — This is more than just a typical downturn in the demand-cycle or a temporary "rough patch". In fact, it's not a recession at all; it is a meltdown of the financial system...The "deep pocketed" Federal Reserve is currently providing hundreds of billions of dollars through its auction facilities to the most craven speculators on the planet..."

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  • GrandmaSheila, on 07/25/2008, -0/+25FTA
    What we are seeing is a hybridized version of capitalism; "Paulson's Scatterbrain Capitalism"; a hodge-podge of taxpayer bailouts, government intervention and free market mumbo jumbo. It's a toxic mix on off-balance sheets operations, over-the-counter "unregulated" derivatives, dark pool trading, opaque hedge funds, dodgy Enron-style accounting, and complex, hard-to-pronounce debt-instruments wrapped up into one, cheesy, unsustainable shell game, managed by Harvard-educated flim flam men and backed by a 100% government guarantee. That's the system we're supporting with our tax dollars and that's the system that is dragging us headlong to ruin.

    It ain't capitalism, my friend. It's a crooked system run by corporate carpetbaggers and banking scalawags who've shot the Golden Goose in hopes of keeping the larder at the cottage on the New Jersey coast chock-full of Dom Perignon and halibut fillets. They created this nightmare and they've doomed us all.

    • kemp34, on 07/25/2008, -0/+6This is absolutely not capitalism, more like "Casino Crony Corporatism".
  • MarkEarhart, on 07/25/2008, -0/+12Let's make sure they meet a fate worse than ours!!!
  • 2bsbc, on 07/25/2008, -0/+14The collapse of our economy is the only thing that's going to wake our sleeping public up. I've made my preparations and am willing to share and help anyone who decides it's time to open their eyes and help return our nation to the path of the constitution. I don't want to see suffering. I don't want violence; however, I can't handle a nanny state, and I don't lick boots. Back me into a corner, and your going to get a fight. Simple as that.
    • Shiftgood, on 07/25/2008, -4/+2care to elaborate on these "preparations"?
      • 2bsbc, on 07/25/2008, -1/+4Drop a gear and ***** with someone else. I'm not in the mood.
      • Shiftgood, on 07/25/2008, -4/+1ok i was being serious... because you said..... never mind.

        Do you live on a old school bus in the woods? Satellite TV and trip mines? that's the impression you're giving off.
      • 2bsbc, on 07/25/2008, -1/+3You're a funny little prick. With one hell of an imagination. I bet you are your teachers favorite. Gold star shifty!
      • Shiftgood, on 07/25/2008, -4/+1I try.

        Hey, guess what? its not 1776.
      • 2bsbc, on 07/25/2008, -2/+4Thanks for the information. Now be gone.
      • Shiftgood, on 07/25/2008, -3/+3No, the confidence in your first thread emits the idea that you have all the answers. I'd like to hear them. Because, right now, we, as a nation, could use some.

        This "sleeping public"... are you not part of them? what are they asleep about? How do you "wake them up"?

        Are you calling for us to overthrow our government and bring about anarchy? Bring guns down Pen. Ave and spray lead into all the buildings?

        Stop paying taxes? plant your own farm, dont use public roads or resources, home school your children, ***** the police and get a gun, caulk the wagon and float across the river?

        What are your answers. We're all scared of whats happening, why wont you tell us how to fix it?
      • 2bsbc, on 07/25/2008, -0/+4If you truly are scared of what's happening and want to be a part of finding solutions for our citizens and yourself; you're going to have every opportunity in the world to prove that, and I hope you do.







      • Shiftgood, on 07/25/2008, -4/+1Ron Paul supporters are the new hippies.

        All complaints and no answers.
      • Hangly, on 07/25/2008, -1/+7I really don't think waking the public up matters anymore.

        I called my dad this morning and warned him about the $800 billion bailout that just passed the house. He told me I must be mistaken, because if the bailout was actually that big it would be a major disaster.

        I was talking about it with my boss too, and he said essentially the same thing. He said it was such a colossally bad idea that he was certain the Senate wouldn't pass it.

        And they're both intelligent people whom I respect.

        Brace for impact folks.
      • 2bsbc, on 07/25/2008, -1/+5That's the problem with blind Obama socialists; always looking for someone else to give them the answers.

      • Shiftgood, on 07/25/2008, -3/+1Well, in all fairness, you said you had them.

        For some reason... im beginning to think you don't.
      • 2bsbc, on 07/25/2008, -0/+2No, actually I never made reference to having answers. You said, "the confidence in your first thread emits the idea that you have all the answers."

        Never once did I say I wanted to pat your little ass with baby powder, and tell you a bed time story complete with metaphors on how to over come your fear of "whats happening". That's why your an Obama supporter. He can lull you to sleep and make you feel safe with such catchy phrases as "change you can believe in", and "Hope. Action. Change."

        If there is anyone who you should fear doesn't have the answers; look no further than your candidate. Smart ass.
      • kemp34, on 07/25/2008, -1/+3Check out my blog with some thoughts and potential answers. The Lew Rockwell video has some nice basic tips.

        http://www.ponderthis.net/

        Number one, get safe, spread the words to friends and family and secure liquid assets, food, and water resources. Never hurts to be prepared, especially in case of any sort of disaster.
      • Shiftgood, on 07/25/2008, -1/+2That, or i support his positions on abortion, taxing the rich and easing the taxes on those who make sub 150,000. His stance on foreign policy and the reception from foreign leaders to it. His non-isolationist views, gay marriage, free and open internet, universal health care, his policies for community service to help people to go to college who would otherwise not be able to, gun control, actually relieving dependency on foreign oil through advancements in alternative energies, anti pollution, transparency in government (thats a big one), anti nuclear proliferation, decriminalizing marijuana, and pro stem cell to name a few.

        Oh, that and he understands an important concept: positivity breeds positivity.

        He also seems to be able to affect morale in a good way. Which is not "nothing".

        Instead of denouncing Wright (on the first pass). He talked to us like adults rather than children, and his rhetoric has a structure that... if you're intelligent, you can decipher and conclude that he has a solid thought process.

        You just sound like another RP parrot. Same insults over and over that mean nothing. Ive seen the same attack you just used 1000 times and it just doesn't hold up. All i asked for were some answers and i got nothing... again. Soley because you dont have them. And it was obvious by your first post.

        peace dude. Good luck to us all.
      • 2bsbc, on 07/25/2008, -1/+2Your intention was never to find answers. You were derogatory from the first post. Not to mention the fact that anyone can search your previous comments and see your only interest is to flame.

        "I personally want to see nuclear proliferation."


        "shut the ***** up.. "this is the last straw"... you're such a liar. You're voting for RP the whole time... go back home loser and cry about it you hippie con."

        If you wanted to have a discussion of real issues, you came at it from the wrong angle.

        You're right, luck is something we all are going to need. That we can agree on.

      • Shiftgood, on 07/25/2008, -0/+11. argumentum ad hominem.

        2."care to elaborate" is not derogatory...

        3.Those 2 quotes you pulled are such a bad representation of my style

        4. I believe arguments breed understanding

        5. I havent heard your side of the argument yet on this "wake up" thing that you're calling for. (but its getting a little tiresome so lets just drop it)

        6. Dont think all Obama supporters are "mesmerized" by his words, it's simply not true and it would hurt your efforts to assume so.

        7. If this makes the front page its gonna be hilarious.
      • 2bsbc, on 07/25/2008, -0/+11. I warned you in post #2

        2. I looked at your other posts before responding in #3

        3. You made them...

        4. I agree

        5. dropped.

        6. I wouldn't assume such a thing. We'll save such hubris for the current administration.

        7. Scary thought.

        God Speed
      • kemp34, on 07/25/2008, -0/+5Here's to world peace and mass individual sanity.
      • 2bsbc, on 07/25/2008, -0/+2I'll take a case of both please.
      • sphira, on 07/25/2008, -1/+3If I may offer -
        Shift
        was concerned and scared of the coming collapse -
        As that collapse is vetted, danger will be from exchanges, such as yours, escalating -

        Shift
        ,I believe, misses the point -
        Paul is the only real player not "plugged in"
        He really is for freedom - The Constitution

        That is the truth of it -- look at this guys comments (SS, Oil, Dollar, intrusive Federalists) and his voting record --
        erudition and peace is to what men should aspire -

  • Hangly, on 07/25/2008, -1/+10When asked how he went bankrupt, Earnest Hemingway replied "gradually, then all at once."

    We've been having "gradually" for the past 40 years. Welcome to "all at once."
    • sphira, on 07/25/2008, -0/+2Nice
      Man that is just painfully funny -
      Thanks - I filed it away
      I've not heard that one
  • Hangly, on 07/25/2008, -0/+5And... visualize the DOW at 6000? Whoever wrote this clearly doesn't know what he's talking about.

    Try picturing the DOW at 50,000 and paying $500 for a pack of cigarettes. This is hyperinflation, not recession.
    • kemp34, on 07/25/2008, -0/+4They would have to drop the Federal Reserve System or there would have to be a complete cashing out of foreign dollar holdings for this to happen. I see continued credit deflation. We'll see.
      • Hangly, on 07/25/2008, -0/+1The cashing out of foreign dollar holdings is happening as we speak.
    • girwen, on 07/25/2008, -2/+2I'd like to see a pack of cigarettes go to $1,000. Just my 2ยข
  • sphira, on 07/25/2008, -0/+2Shift - wants answers -
    Give a specific you would like a question -
    Preparations --?
    Start -
    Ever vigilant honing of organizational skills -
    1 Pallet of drinking water -
    1 box of 22cal ammo each week
    be sure to state it is for a rifle to avoid governmental paperwork -

  • m2garand, on 07/25/2008, -1/+6Americans deserve to suffer a collapsing economy. They want a ton of government entitlements and they want their government to crusade around the world murdering foreigners and they don't want to sacrifice a dime for it.

    Well America, its time to pay.
    • Pitofdoom, on 07/25/2008, -3/+1Murdering foreigners, please....
      • m2garand, on 07/25/2008, -0/+1What else would you call killing people that are not threatening to attack you?
    • wunksta, on 07/25/2008, -0/+0it doesnt have to do with entitlements or trying to help people in other countries
      it has to do with politicians and corporate interests taking precedence over everything else not to mention general political incompetence and apathy
      • juankovo, on 07/25/2008, -0/+2It has everything to do with entitlements. "Government is the great fiction by which everyone endeavors to live at the expense of everybody else."

        Our government has not followed the Constitution for a long, long time. The vast capital resources of the United States, coupled with a huge pool of imaginary credit, has allowed us to coast along for so long. We are Wile E. Coyote, ten feet past the edge of the cliff.
      • wunksta, on 07/25/2008, -0/+0what entitlements? ss? welfare? i admit that these programs are getting out of hand and can be reconfigured.

        however, this isnt what caused the subprime mortgage crisis. again, outrageous corporate/politician control over our economy and society is causing severe problems

        correct me if im wrong but there are several issues at work here
      • vrich187, on 07/26/2008, -0/+1Medicare. I watched a couple you tube clips featuring David Walker who was the comptroller general. Interviews from 60 minutes and others. Basically he is saying that as the boomers retire and become eligible for ss and medical benefits it will bankrupt the country. He got so angry that nobody in Washington would listen to him that he went on the road speaking.
      • wunksta, on 07/26/2008, -0/+0yeah, looking at the budget breakdown is ridiculous. i think a lot of it is just bureaucracy though. i like the idea of a negative income tax to do away with much of this and encouraging private savings and taking out the insurance middlemen like the hmo etc.

        i could be wrong but hey, its not getting better.
  • girwen, on 07/25/2008, -0/+2The friggen plutocrats have got it made. They have socialized the risk, and privatized the profit. Couldn't ask for a better world. Meanwhile six pack Joe (and six pack Jane) keep voting for the guys rove & co put out there for rush and ann to gush over. Meanwhile harry and nancy roll over and play dead, while jay along with
    Alexander (R-TN),Allard (R-CO),Barrasso (R-WY),Baucus (D-MT),Bayh (D-IN),Bennett (R-UT),Biden (D-DE),Bond (R-MO),Brownback (R-KS),Bunning (R-KY),Burr (R-NC),Carper (D-DE),Casey (D-PA),Chambliss (R-GA),Coburn (R-OK),Cochran (R-MS),Coleman (R-MN),Collins (R-ME),Conrad (D-ND),Corker (R-TN),Cornyn (R-TX),Craig (R-ID),Crapo (R-ID),DeMint (R-SC),Dole (R-NC),Domenici (R-NM),Dorgan (D-ND),Ensign (R-NV),Enzi (R-WY),Feinstein (D-CA),Graham (R-SC),Grassley (R-IA),Gregg (R-NH),Hagel (R-NE),Hatch (R-UT),Hutchison (R-TX),Inhofe (R-OK),Inouye (D-HI),Isakson (R-GA),Johnson (D-SD),Kohl (D-WI),Kyl (R-AZ),Landrieu (D-LA),Lieberman (ID-CT),Lincoln (D-AR),Lugar (R-IN),Martinez (R-FL),McCaskill (D-MO),McConnell (R-KY),Mikulski (D-MD),Murkowski (R-AK),Nelson (D-FL),Nelson (D-NE),Obama (D-IL),Pryor (D-AR),Roberts (R-KS),Salazar (D-CO),Sessions (R-AL),Shelby (R-AL),Smith (R-OR),Snowe (R-ME),Specter (R-PA),Stevens (R-AK),Sununu (R-NH),Thune (R-SD),Vitter (R-LA),Voinovich (R-OH),Warner (R-VA),Webb (D-VA),Whitehouse (D-RI),Wicker (R-MS) say we don't know if anybody broke the law, so we better immunize them just in case.
  • AlbinoRaven, on 07/25/2008, -0/+2The weirdest thing is here in Canada the government has been pumping out the public message for a couple of months to be prepared in an emergency, along with 1-800 hotlines and websites popping up to inform on what to stockpile and have on hand for 72 hours. Lately it seems like it's every third ad on the radio.

    Although that could have more to do with power outages, flooding and massive snow storms than economic collapse I would assume the details are teh same. Water on hand, dry food stuff, batteries, etc. Although I'm not getting the feeling from some of the posters here. They sound like they are ready to go to war with their own country men over the matter.
  • Pitofdoom, on 07/25/2008, -0/+2We are done ! it's just humiliation, starvation and the fruits of our lies (death) that awaits !
    Sorry for not cheering you up all at once, but hay maybe savior Obama will save us !!
    • stretch611, on 07/25/2008, -0/+2The fact is that Bush and Co are doing everything to hide and deny the truth of just how bad it is. Another fact is that we are so deep in it now that even King Midas would not be able to save us if he was elected as a double term president.
  • juankovo, on 07/25/2008, -0/+2I pray only that Americans will not fall for the scapegoat that will be presented for this mess. "IT'S ALL CAPITALISM'S FAULT! WE MUST BAN CAPITALISM AND THE FREE MARKET!" In fact, we have been living under pseudo-capitalism. Truly free markets, with asset-backed currencies, will fluctuate somewhat in response to things like natural disasters. But this "market", permeated by government intervention, will collapse quickly and take ages to rebuild. It has been propped up for decades, and the weight can be borne no longer.
  • m2garand, on 07/25/2008, -0/+3@ wunksta

    Government entitlements are what is dragging the economy down. Indirectly they are responsible for the sub-prime mortgage crisis. When the government wants to increase spending without raising taxes it has to do so by inflating the currency. Artificially low interest rates cause the housing bible and rising prices.
    • wunksta, on 07/26/2008, -0/+0yeah but they arent doing so for our benefit i believe
  •  

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