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- Minarchian, on 09/29/2008, -6/+311Between the attempted "bailout" and the FED printing phoney money in the hundreds of billions, I think it's fair to say that there is a concerted effort to totally destroy the dollar as soon as possible.
- inactive, on 09/29/2008, -4/+160Remember how the Iraq war was going to cost 1 billion dollars. Yeah.
- inactive, on 09/29/2008, -4/+130At this rate the dollar is going to crash.
According to the Fed, the M2 measurement of the money supply at the beginning of August was 7.7 Trillion dollars. We have just increased the money supply by over 15%.
We are going to make the Russians and Chinese lose all faith in their dollar reserves and try to dump them while they still can. Adios greenback.
http://research.stlouisfed.org/fred2/data/M2SL.txt - GovernmentSp00k, on 09/29/2008, -5/+121Expect a new "speech' from W Shrub "message from the president" broadcast on all the 'mainstream' controlled TV networks any day now..."we interrupt your regularly scheduled programming for a special announcement.".. Carefully devised to hit all the proper buttons, to instill panic, fear, and 'grave uncertainty' upon the American dummies..since he didn't get his way the first time...With the 'terror scare!" rhetoric turned up a notch or 2.. Containing all the usual, easily assimilated into your conscience- fear mongering soundbites; "this could be the end of American freedom as we know it" "Our nation is on a grave path to danger" "Americans will lose their money" "your children will be affected!" "the failure to pass this necessary bill puts our entire nation at grave risk" "Americans will be forced to work more at longer hours" "your stock and investments will be worth next to nothing" "retirement plans will collapse" "America is much more vulnerable to evil 'terrorists' and 'enemies of freedom' who seek to harm the American people and their way of life now more than ever before in history!" "the American economy will not survive" "your local bank will collapse leaving you with nothing" "the value of your home will decrease substantially" "your assets will no longer have worth" and other dumbed down, unsubstantiated Shrub-speak FUD rhetoric. You gotta wonder who writes this ***** for him..?
I say "bring it on!" Let these companies die. No trillion dollar "bailout" for Wall St. Why should we be forced against our will to pay dearly for their mistakes? This is a pre-meditated SCAM, nothing more. It's all *BUSH ******. They want to fleece us for everything and anything they can get away with before Shrubs term is up. Don't be fooled. Resist it all. This administration has already proven what they are capable of.
No doubt there's more of this "bailout" fraud B.S. to come. It's only just begun to get ugly..
"Nothing in politics ever happens by accident.
If it happens, you can bet it was planned that way."
- Franklin D. Roosevelt - officecamel, on 09/29/2008, -3/+84"Our enemies are innovative and resourceful and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." George W. Bush - Washington D.C. August 5, 2004
- Airforcefalco, on 09/29/2008, -14/+91If we all get an equal cut of this I'm fine.
That is around 4500 dollars to each American. - inactive, on 09/29/2008, -3/+69it seems there is a hole in the bailout bucket...
- inactive, on 09/30/2008, -8/+73... so that Bush can declare a State of Emergency and cancel the November elections.
- officecamel, on 09/29/2008, -5/+69The Fed: Open $1 Bill Graphic, Click Print, Repeat 630 Billion Times.
====Economy still not fixed====
American Idol watching Americans: Hit head-on by financial disaster freight train--unaware that anything bad was coming--yet still wondering who is going to win on the next episode of Dancing with the Stars.
Global Great Depression of 2008 - Get ready for it. It is no longer a matter of "if", but a matter of "when" - snackattack, on 09/29/2008, -8/+69This is going to be the biggest disaster in history. Now who can we thank for most of the trouble we are in now. Good job you retarded cowboy.
- thegrantman, on 09/30/2008, -2/+62How do you impeach Congress?
- Ymeg, on 09/30/2008, -4/+58*****
- GovernmentSp00k, on 09/29/2008, -2/+55precisely..
- obxjdt, on 09/30/2008, -11/+60$1,330,000,000,000,000
Say it out loud with me one time
One Trillion, Three Hundred Thirty Billion Dollars, and no sense!
Please vote all of these ass holes out! The Democratic Congress has a 19% approval rating. Thats worse than Bush for God's sake! Vote them ALL out!!! - inactive, on 09/29/2008, -5/+52
Dear Mr. MG
Thank you for contacting me about the Bush Administration bailout. I am vehemently opposed to this bailout.
I was the first Member of Congress to take to the House floor and stand up in opposition to this $700 billion bailout. The financial crisis we face today does not need to be resolved by forking over $700 billion from the taxpayer to the "Masters of the Universe" on Wall Street.
The fundamental premise of the $700 billion Bush Administration bailout is flawed, reckless, and foolish. It is flawed because it is not clear it will achieve its stated objective of injecting commercial banks with liquidity and it ignores the needs of main street America, it is reckless because there are better alternatives, and it is foolish because giving away $700 billion will limit our ability to deal with the myriad of other problems we face such as healthcare, energy independence, and job creation.
To put the sheer audacity of this bailout plan in perspective, a compromise has been talked about that reduces the initial payments to "only $250 billion". $250 billion would more than double our investment in bridges, highways, transit, and rail in the United States for five years. Investing in infrastructure creates jobs and stimulates the economy. According to the U.S. Department of Transportation, for every $1.25 billion we invest in infrastructure, we will create over 30,000 jobs and $6 billion in additional economic activity. In President Roosevelt's Works Progress Administration, we invested in building roads, bridges, dams, hydroelectric systems and other public works projects to mend our nation's broken economy. That money trickled up to Wall Street from Main Street and rebuilt our economy. We did not just throw money at Wall Street with the hopes that the taxpayer might some day be paid back.
I think Congress should respond, but the basic premise of the Bush Administration bailout is flawed. Almost 200 economists wrote to Congress stating "As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson"[1]. The letter went on to raise the issues of fairness, ambiguity, and the long-term effects. The former chairman of the Federal Deposit Insurance Corp in the Reagan Administration wrote, "I have doubts that the $700 billion bailout, if enacted, would work. Would banks really be willing to part with the loans, and would the government be able to sell them in the marketplace on terms that the taxpayers would find acceptable?"[2] And James Galbraith, an economist at the University of Texas, has asked "Now that all five big investment banks -- Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley -- have disappeared or morphed into regular banks, a question arises. Is this bailout still necessary?"[3] I believe the answer is No. I have called on my colleagues to slow down this debate and seriously debate the alternative proposals.
For example, many economists have argued that directly helping mortgage holders save their houses would be astronomically cheaper and a more effective in resolving this crisis. And helping working Americans restructure their homer mortgage will increase the value of Wall Street's depreciated assets. As the New York Time opinioned recently:
"We could make a strong moral argument that the government has a greater responsibility to help homeowners than it does to bail out Wall Street. But we don't have to. Basic economics argues for a robust plan to stanch foreclosures and thereby protect the taxpayers ."[4]
Another serious consequence is the $700 billion hole in the budget deficit this bailout will create. The next administration, Democratic or Republican, will be unable to initiate new proposals as it charts a new course for our nation. The Bush tax cuts blew the surplus created by the last Democratic Administration and the Bush Administration bailout will prevent the next administration from implementing its mandate.
My biggest concern of this bailout is who pays the $700 billion tab. The $700 billion is to protect Wall Street investors, therefore the same Wall Street investors should pay for this infusion of taxpayer money. I have proposed a minimal securities transfer tax of ? of one percent. A securities transfer tax would have a negligible impact on the average investor and provide a disincentive to high volume, speculative short-term traders. Similar tax proposals have been supported by many esteemed economists such as Larry Summers, John Maynard Keynes and Nobel prize winners Joseph Stiglitz and James Tobin.
There is considerable precedent for this. The United States had a similar tax from 1914 to 1966. The Revenue Act of 1914 levied a 0.2% tax on all sales or transfers of stock. In 1932, Congress more than doubled the tax to help finance economic reconstruction programs during the Great Depression. In 1987, Speaker of the House Jim Wright offered his support for a financial transaction tax. And today the UK has a modest financial transaction tax of 0.5 percent. This is a reasonable approach to protecting taxpayers and ensuring the federal budget doesn't fall further into the fiscal hole.
I will continue to challenge this bailout every step of the way. Again, thanks for reaching out to me. Please keep in touch.
[1]
http://faculty.chicagogsb.edu/john.cochrane/resear ...
[2]
Washington Post. A Better Way to Aid Banks. William M. Isaac. Sept 27, 2008. A19.
[3]
Washington Post. A Bailout We Don't Need. James K. Galbraith. Sept. 25, 2008. A19
[4]
New York Times. Editorial. What About the Rest of Us? Sept., 26, 2008. A26.
Sincerely,
Rep. Peter DeFazio
Fourth District, OREGON
******Please do not respond directly to this email*****
Please submit further correspondence from http://www.housmailaarvey - phybere, on 09/30/2008, -2/+48I think that's called a revolution.
- snackattack, on 09/29/2008, -3/+46The saddest part to what officecamel said is that I read that there are actually more people that vote on American Idol then are registered to vote in the presidential election. Figure that one out.
- syncomm, on 09/29/2008, -3/+41I'm just going to wait down here in my bunker with my IBM 5100 for John Titor. The rest of you are screwed.
- Phisolo, on 09/30/2008, -1/+36Bailout??? We don't need no stinkin' bailout!
This is the Fed giving Congress the finger for not voting for the bailout. If you don't give us what we want, we will just take it. They let Congress THINK they were "doing something" until Congress did not do what they were told to do. - bullhead2007, on 09/30/2008, -1/+33We should stop trying to treat the symptoms and start trying to cure the actual problem.
Kill the Federal Reserve like the cancer it is to our government. Keeps growing and stealing resources for the rich, and kills off the weak. The Fed is nothing more than a group of Fascist bankers, the largest most well organized LEGAL cartel the world has ever seen. - GovernmentSp00k, on 09/30/2008, -6/+37Financial terrorism at it's finest. "Meltdown Monday" was a financial 9/11.
No "religious fanatic!' "jihadier" degenerate "evil enemy of American freedom and our way of life!" living below their means from across the world in desert caves could have EVER accomplished any of this blatant destruction and horrific *FRAUD* upon Americans, their freedoms and way of life, and economic system.
(Our real enemies are never who they say they are...)
We the people don't need some stinkin' 1.whatever-trillion dollar "bailout" SCAM. We need is this ASAP: http://digg.com/political_opinion/END_THE_FED_And_ ...
Also: http://www.dailypaul.com/node/65173
***Support HR 2755 to ABOLISH THE FEDERAL RESERVE*** - officecamel, on 09/29/2008, -0/+29Actually...let's call this one "The Global Super Depression of 2008"
"Great Depression" has already been used...don't want a dupe. - chrismetalrock, on 09/30/2008, -1/+29Unfortunately that's what well each be paying :(
- seekeronos, on 09/29/2008, -11/+38It is all a part of the CFR and the New World Order's plan to destroy America, just when people are beginning to wake up to their spendthrift ways.
When the sheeple wake up, the masters bring out the shotgun to put us down. - anachronaut, on 09/30/2008, -2/+26If this huge bailout does go through -- and all signs point to "yes" -- then it's going to be a double- or triple whammy on the American public. This is far bigger than just an astronomical outlay of cash... there's going to be a resulting debasement of the dollar to deal with as well as a very likely sharp increase in the prices of commodities (more expensive food, fuel, etc).
Either way you cut it the American public loses on this deal, which is almost certainly by design. That's the only kind of game these greedy scumbags will play -- a rigged one; whether it's politics, finance or anything else.
I'm in favor of letting Wall Street burn, personally. Free markets should be driven by failures just as much as they are by successes. It would be rough for a while but we're resilient. - inactive, on 09/30/2008, -3/+26"When the government fails to pass a socialism bill and the market goes south, let it go south."
- njunderground, on 09/30/2008, -1/+24i like how george bush is a complete retard until it comes to brilliantly orchestrating an evil empire. then he becomes a dark, lex luthor like mastermind.
- inactive, on 09/30/2008, -2/+24I just purchased some Silver Bullion today. For awhile, I thought it was kinda gimmicky to buy gold or silver as a hedge, but more and more it's looking like a good move.
- officecamel, on 09/29/2008, -3/+25George Bush to American's: "It's shake and bake, and I helped"
- snackattack, on 09/29/2008, -0/+22We are such a media driven country it is pathetic...
- Hangly, on 09/30/2008, -2/+23We were going to MAKE money in the Iraq war. Through oil sales.
Yeah. - snackattack, on 09/29/2008, -2/+21The only reason why W is pushing so hard for them to come to a agreement is so he can line his pockets befor he punches out...
- officecamel, on 09/29/2008, -1/+20And it is bigger and uglier than the infamous Goatse.
- Minarchian, on 09/30/2008, -0/+19uh....me thinks ya gots three too many zeros in there :)
- thepeacemaker, on 09/30/2008, -0/+18>If we all get an equal cut of this I'm fine.
Reminds me of the times when we played monopoly we would sometimes distribute so much money that we'd end up buying all the property we could get our hands on. Money wont mean anything anymore. Took the fun out of the game. - bullhead2007, on 09/30/2008, -1/+19This is what real money looks like:
http://www.usarare.com/4428.jpg - slvrbullet87, on 09/30/2008, -0/+17Capitalism isnt about the redistribution of wealth, how about the government just knocks this ***** off and lets the market do what it needed to do
- GovernmentSp00k, on 09/29/2008, -0/+17'We must always be forward thinking' http://www.youtube.com/watch?v=z8pvU1iyT3c
- tmlee, on 09/30/2008, -0/+17just to clarify. the Fed did this before the failed vote. They would have done it regardless of whether it passed or not.
- inactive, on 09/30/2008, -2/+18FTA:
"The bank-rescue plan being debated by Congress today would give the Fed more power over short-term interest rates by providing authority as of Oct. 1 to pay interest on reserves held at the central bank by financial institutions. That would make it easier for the Fed to pump funds into the banking system."
---
Does anyone know what this means? Anytime I hear that the government is being given "more power" I shudder. - Minarchian, on 09/30/2008, -1/+17"Give me control of a nation's money, and I care not who makes her laws." (Mayer Rothschild)
- inactive, on 09/30/2008, -3/+19Shhhhhhsshh!!! Sheeple aren't supposed to add or subtract!!!
- GovernmentSp00k, on 09/29/2008, -0/+15Wow, excellent response Markus! Sounds like you got a rep there who is actually on top of things and doing his job. That sort of detailed, well thought out, concise reply deserves at least an e-mail, letter, phone call or fax for a nice "THANK YOU" with his name on it : )
- officecamel, on 09/29/2008, -0/+15And same with Pauson, Bernake, and all the others on the same team.
- drawguy, on 09/30/2008, -2/+18Ohhhhh maaaaannnn. ***** is getting reeeaaalllll.
- KyleRayner, on 09/30/2008, -1/+16Add this reckless spending bill that went under the radar to the tab:
http://www.msnbc.msn.com/id/26915459
$634 billion - cryptomystic, on 09/30/2008, -1/+15Wake me when the revolution starts.
- officecamel, on 09/29/2008, -0/+14But for the sheeple to wake up, they must first do the following:
1. Divert their attention away from who is winning (Insert Stupid Reality Show Name Here)
2. Quit thinking that all this talk of "bad stuff happening" is just nonsense...because Paris Hilton is still living just fine... - bullhead2007, on 09/30/2008, -1/+14This is Alex Greenspan and the Federal Reserve's fault.
Not Bush. Bush is just a puppet.
It's easy to just blame Bush, and yes he shares responsibility for being inept, and neglegent, but the real problems in our country come from the fascists who really run it. - inactive, on 09/30/2008, -0/+13and i think the approval rating is only 9%
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