What is Digg?110 Comments
- Cryptocracy, on 08/17/2008, -12/+78Question: the U.S. middle class is an institution that is basically insolvent, will the FED bail out the Middle Class?
Answer: NO, the Fed wants the middle class to be reduced to poverty, because then America will be a serfdom of the very poor and very rich, (like Mexico) 2 distinct classes that will facilitate the coming fascist police state government nicely.
They hate us for our freedom. they hate us because we see their LIES. they are the NWO. - inactive, on 07/14/2008, -3/+60EVERYTHING the conspiracy theorists have been talking about regarding economic and financial predictions have come true....
- kemp34, on 07/14/2008, -0/+46I hate to say it, but it is hard to argue with this. The "leaders" are either really, REALLY, REALLY dumb, or they are evil and have other corrupt motivations. It is hard to conceive of such powerful people being SOOOOOO idiotic.
- StingingNettle, on 07/14/2008, -2/+40The banks are getting slammed today. http://www.marketwatch.com/news/story/bank-stocks- ...
If your bank has high exposure to subprime and not enough capital, you better take out your money. - inactive, on 07/15/2008, -2/+40Do you live in America? Have a net worth of less than ten million dollars? They have a name for you. It's called "livestock". Get back to work.
- inactive, on 07/15/2008, -4/+39Right-wingers carry on about socialism - but when the government delivers a massive bailout like this to irresponsible organizations, they don't say a word.
- inactive, on 07/14/2008, -2/+32This is a coordinated effort to trash the global economy to prevent the majority of responsible society from removing the idiotic tyrants of oilygarchic democracy. "If they are too poor to fight back, then lay waste to humanity" flip quoted from George W. Bush in Feb 2001.
- crocev, on 07/15/2008, -1/+31Stop reading the mass media and start surfing the web, the blogs, and you'll know the events that are coming months ahead. Learn, criticize, don't let other people think for you. They may have PhDs but many just repeat the silly models and hypotesis some other guy wrote down.
Take care of your own money, dont trust it on pension funds, banks, bonds... Take your own decisions, because if everything you have is lost, you will only have yourself to blame. - inactive, on 07/15/2008, -1/+27As the dollar tanks, the bigwigs are starting to buy up land and infrastructure at rock bottom prices, and people are having to sell them to them or face foreclosure. The rich are getting richer and the middle class are joining the bottom of the heap to become serfs and peons. The only other class left will be the newly created criminals and the over-serfs that are the police to enforce the master's rule.
And they'll probably call it something catchy... like a New World Order...or ROme
Meanwhile some idiot, inbred Bush re-electing retard is saying, "I'm glad terrorists isn't attacking my woodshed". - MizSwann, on 07/14/2008, -0/+25And whether they are evil - OR stupid - they need to get shed like a bad case of herpes.
The sooner the better... - inactive, on 07/14/2008, -0/+21No, not HERPES! You can't get rid of that!
- inactive, on 07/15/2008, -0/+20More to come.
- inactive, on 07/15/2008, -1/+16Get your fast asses back to the mall and buy more crap you don't need.
- inactive, on 07/15/2008, -3/+18I say ***** those companies! Bail out the consumers by lowering gas prices and the cost of food!
- diggadigga, on 07/15/2008, -0/+15"``I don't know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,'' Rogers, 65, said in an interview from Singapore. ``So we're going to bail out everybody else in the world. And it ruins the Federal Reserve's balance sheet and it makes the dollar more vulnerable and it increases inflation.''
This was my reaction http://i107.photobucket.com/albums/m293/davidjungc ... - TsuruchiBrian, on 07/15/2008, -1/+13The only way to stop this is to stop voting for ***** politicians. Democrats are just as much to blame as Republicans. Stop voting for people that sell you out to the wealthy elite of this country. It would be too disastrous for the economy for Freddie Mac and Fannie Mae to go under? Why because then it's rich people losing money instead of middle class taxpayers? ***** it, let's do it anyway. I think they are bluffing.
- drape, on 07/15/2008, -0/+11Its evil and they know it. But they feign stupidity to get away with it.
- Hangly, on 07/15/2008, -0/+11Whoever first promulgated the idea of "conspiracy theories" in reference to predictions of bad things happening did the culture a huge disservice. I can't think of a time in history when potential crises were so universally ignored.
- PhantomZmoove, on 07/15/2008, -0/+10I think the three class descriptions you are looking for are:
the Inner Party
the Outer Party
the Proles - inactive, on 07/15/2008, -0/+9What a pathetic cop-out.
First of all, the term is "bailout".
Secondly, these organizations should never have gotten themselves into such a situation. When businesses go insolvent the natural law of the free market dictates that they should go under. - whatthefu, on 07/15/2008, -2/+10Yes they do. There is criticism all over the board from both liberals and conservatives.
- StopTheLie, on 07/15/2008, -1/+9http://MeetTheSystem.org (If you're interested to know who created the mess, how they did it, and why)
- SilentPure, on 07/15/2008, -1/+8Jim Rogers has been calling it for a while.
http://video.google.com/videoplay?docid=-604652040 ... - inactive, on 07/15/2008, -0/+7Privatized profits, socialized risk.
Did you ever stop to think that maybe the reason the fed has to bail out this big corp is because they got themselves in a whole lot of trouble from their own greed and from the knowledge that the USA could not possibly afford to have them go under? Thus requiring a federal bailout?
It's amazing how naive you guys are about business. - inactive, on 07/15/2008, -1/+7You're an idiot
- sodade, on 07/15/2008, -0/+6Gee, wonder who it was? Don't you think it is clear that the MSM is instrumental in marginalizing anyone telling the truth by calling them "conspiracy theories?"
- Hangly, on 07/15/2008, -1/+7You are aware who pays for bailouts, right?
- mfc5200, on 07/15/2008, -0/+6It's definitely a fine line to cross. Because the idea of "too big to fail" might actually apply here. If there is any way the government could come in and secure the mortgages only AFTER the company has failed, that would be what I consider a good compromise.
In that case the company would be bankrupt so the stock would be worthless and the bond holders probably wouldn't get most of their money back. Now in this case the people who took out mortgages they couldn't afford would get bailed out, which is bad, because that's their fault. But there would be major consequences as a result of all of their houses foreclosing at once (our economy would go into a deep recession, maybe depression) so they kind of have to be saved. But all people involved with this company, whether they are the stock owners, or the lenders, get screwed. That will send a clear message to businesses that the government won't help you, and therefore you shouldn't make decisions assuming the government will bail you out with credit of the US government. - inactive, on 07/15/2008, -1/+7Hey oldschool, I was gonna write a long rational retort to your ***** comment, but realized just two words were merited.
***** you. - inactive, on 07/15/2008, -1/+7Who cares about the new iPhone, E3, The Dark Knight, and everything else that has a fleeting effect on your lives! The impending economic collapse of America is about to take place and you're not doing anything about it! Prepare yourselves for the worst. Things will never be the same again.
- LeRenard, on 07/15/2008, -1/+6and invest it in precious metals or commodities for the time being (No, I'm not a gold-standard freak, but if you really think the banks will fail strongly enough that you withdraw your money, that means inflation would go wild, your paper would be worthless, and things like gold or palladium would be the way to hedge against that.
- inactive, on 07/15/2008, -3/+8It pales in comparison to mainstream republican disdain for socialism.
- inactive, on 07/15/2008, -4/+9Nationalize, kill the guys up top, confiscate their assets.
- rebelcapitalist, on 07/15/2008, -0/+5The middle class wealth is being systematically destroyed. Home values (biggest asset) are decreasing. Gas prices increasing, food cost increasing, tax burden will definitely increase (especially property tax). Where is the bottom?
- Arcueid01, on 07/15/2008, -0/+5Yeah I suppose we are not conspiracy theorists then. I suppose we are making validly supported and probable predictions. See I think the fundamental problem with our citizenry is that they honestly believe that people in this country wouldn't be so self-serving and downright evil as the people that run our country. I have news for everyone: greed is a bitch.
This type of stupid ***** is just going to continue until people are held accountable. The Bush Administration doesn't give a ***** about running this country into the ground. He cares more about his pocket book and his image (I don't understand why). I mean what President would build a library in the White House to commemorate his presidency. Wow. - LeRenard, on 07/15/2008, -1/+6Dugg for not having even a fundamental grasp of economics.
- Hangly, on 07/15/2008, -1/+6Just FYI, the FDIC only has enough cash to cover about 1% of all depositors. It was designed to cover individual failures of much smaller banks. If one of the Big Three go under, I'm afraid those depositors are SOL.
Having your money under the bed is much better than your money being GONE, dontcha think?
It's first come first serve. If 10% of Americans take out their money ahead of you, they will have resolved the issue for you. - inactive, on 07/15/2008, -0/+5make sure you have less then 100,000 in a bank account if not then spread it around and make sure its less then 100,000 in each account. That amount is federally insured and if a bank goes belly up you can take out your cash.
- bales, on 07/15/2008, -1/+6What I think he means is stop listening to just one side of every argument. Read blogs and surf the web and you'll find that other people might have differing opinions.
- inactive, on 07/15/2008, -0/+5"Right. We're all so naive that we don't see the wisdom in ensuring that no middle class American can afford a home"
See that's the beauty of the free market - a less irresponsible lender would crop up in the place of the one that fell.
"You a commie, Drogoganor?"
I'm not the one advocating large federal bailouts to irresponsible entities.
But I don't care anyway. Your angry tone of voice lets me know that you know you're wrong. - pintomp3, on 07/15/2008, -3/+8mcccain: it's all psychological.
- Hangly, on 07/15/2008, -0/+5They already own all the land. Nixon's Endangered Species Act put most of our pristine wilderness in escrow as collateral on the national debt. That's almost a third of the entire country by itself.
The banks own the rest. Have since our last big economic *****.
Really, don't you think this is a pretty big crisis to bring about just to confiscate the remaining 10% they don't control already?
Know what I think? I think the banking cartel had everything it could possibly want by about the 1930's. It owned everything it could own, and it stole everything it could steal.
Since then, the unparalleled power they wielded has given them a severe case of degenerative brain-rot that has left them all quite mad. So mad that they believe they are invincible--Gods even; manipulators of physical reality.
These delusions have made them decadent, irresponsible, and sloppy. This is why of late their schemes are getting riskier and riskier and ever more divorced from reality and good sense. Being poorly-conceived, most of their Machiavellian designs (like Enron, Iraq, 9/11, and Iran) are blowing up in their faces one after the other. - unknownpoltroon, on 07/15/2008, -0/+5Thats why I'm scared *****.
- Hangly, on 07/15/2008, -0/+5Also poverty doesn't prevent civil unrest. Historically speaking it's the primary cause of unrest.
- synarchy, on 07/15/2008, -0/+5Fannie Mae and Freddie Mac where created by government in 1938 by FDR to provide government backed mortgages for the farmers home administration. Consequently, your post drips with irony. (However, you do have a point that the neocons who pretend to favor "free-market" capitalism don't mind a socializing losses so long as they get to privatize gains.)
- Hangly, on 07/15/2008, -0/+4"WaMu shares rebounded almost 9% during the evening trading session after the lender said it significantly exceeds all required capital levels for "well capitalized" banks."
What are those levels, I wonder. I further wonder if that statement actually means anything. - Hangly, on 07/15/2008, -0/+4The reserve requirements of most banks is at best 10 to 1. In some banks its 30 to 1 or more.
That means if only a fraction of people withdraw their money the bank will collapse anyway. If there even looks like there might be a run, you better drop what you're doing and run fast. - MacroDaemon, on 07/15/2008, -3/+7A recession generally happens when an economic system needs to partially collapse. Too many businesses have over-extended themselves, or turned redundant, and pricing bubbles have gone to unimaginable heights.
The problem is that when an economy goes through such an extensive correction, a lot of people lose money and the economy might crash rather badly, which is what this type of interference is trying to stop. They're not trying to just save the rich people here, but basically avoid the crash entirely. This can work, but in many situations it just prolongs the recession.
The great Depression comes to mind, where a lot of governments followed protectionist maneuvers and various other tactics when the solution, which nobody really liked at the time, was to basically devalue currency and nuke everyone's savings. - Hangly, on 07/15/2008, -0/+4Drogoganor almost certainly wanted to say "neocons" but said "right-wingers" instead out of habit.
- Hangly, on 07/15/2008, -0/+4The American people are already saddled with hundreds of thousands of dollars worth of debt each,so we really didn't think anyone would notice.
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