Tag Archives: Debt

IMF pick Christine Lagarde-Obamette updates beau mot Cherchez La Femme

One of the boys, literally
IMF DSK replacement Christine Lagarde assumes leadership of the International Monetary Fund today, the world’s most powerful woman. Will she be the spoonful of sweetness to make austerity cuts go down? How’s your blood-sugar crashing on Obama? My guess is this fairy grandmother gambit will go down in Europe like an Obama Smurfette. To further my sexist analogy, imagine Lagarde the stereotypical bank loan officer, absolutely immovable. But Lagarde is personable, kindly, and maternal, and she’s willing to extend your loan, on the condition that you forfeit your house and all your possessions, and rent them from her. In the end you have nothing, but you don’t starve. By the way, the sheriff outside work for her. The IMF and the paramilitary riot police -that’s whose army. It’s a contract re-up you can’t refuse. That’s “austerity,” larceny with the improbably-legitimated veneer of usury, and it’s her last best offer.

Cherchez la femme or “get the woman”, used to be an investigative phrase meaning, find the extra-marital affair behind the political intrigue. The effect of this strategy was so absolute that it came to mean looking for the obvious. And so, isn’t the appointment of the silver-coiffed woman to front the severely PR-challenged, greed-saturated IMF, the obvious choice for a facelift?

Look at the IMF, an old boys network rivaled perhaps only by the World Bank. The solitary Lagarde is the next best thing to the superior exotic, one black man. They didn’t have one, and that novelty might be playing itself out already across the pond.

Augustin Carstens Fat BastardSpeaking of the New World, with Lagarde, the IMF avoided the challenger touted as the champion of emerging nations, Bank of Mexico nomineee and corpulence personified, Augustin Carstens. You might remember Carstens as the obesity-suited Fat Bastard from Austin Powers, who kept begging to be given Mini-Me for a snack.

What an unfortunately apt personification of the banking system Augusten Carstens would have been. Try to find a single photograph that wouldn’t have made the IMF aims plain: the bankers are licking their chops not only for your last penny, they want your ribs.

Mexicans have to brave illegal status in the United States to flee the economic policies enforced by their Fat Bastard.

The Law, in its Majestic equality, forbids rich and poor from being alike

At least when it comes to Urban Camping. Seems the “no camping” ordinance didn’t apply at the mall when Greed rather than Need was the motivation to take to the tents. People started camping out early Thanksgiving day to be the first in line for “doorbuster” specials on Black Friday. How about it, Doug, Janis, Sean, Lionel? Chief Meyers? Sheriff Mussolini errr Maketa? How about it Tame Ass Right Wing Media in town, Praising the HomeFull campers for their bravery in voluntarily pitching their tents with plenty of police protection, unlike anything the HomeLess PEOPLE ever got.
Hypocrisy, thou hast a name, and thy name is Colorado Springs Establishment.
Maybe they could redeem themselves by publishing stories detailing how many of those purchases were made on Credit and in 6 months how many of the Credit Cards used are in default. Black Friday is allegedly a Triumph of Capitalism. Yes, once again the Corporate BigPigs got the commoners to push themselves further into debt which they’ll never be able to repay. What a lovely victory that is!

Parasitical capitalism exposed

Got Real Player?
 
Two hours of excellent deconstruction of the big financial parasites and how 2008 will see a depression and a transfer of tax burden (bail out) onto the working and what’s left of the middle class. Banks are calling in loans on hedge funds and hedge funds don’t have the money (lost it gambling) so they are selling their assets (any assets) which include stocks. That’s why we see the big drops in the stock market. And the writing off of billions by the banks …large and small. And their stock price declining.

If the Fed keeps lowering interest rates (printing money to save their banking and wall street buddies) we’re screwed and it won’t help. That’s the same as me giving someone more money who is already in deep debt and has no way to repay me. They, the Fed, has screwed things up so bad we’d still be f__ked if they raised interest rates. It’s a liquidity fix one way and a credit tightening the other. But either way credit is cut off due to all the debt.

And all of this due to the subprime and criminal mortgage lending practices of the banks the Fed is supposed to be watching. Greenspan is a crook of magnificent proportion! He should be behind bars!! But it’s a systemic problem of corrupt fascist business model since the Fed took over the management, value and issuing of our currency in 1913. And largely amplified after the 1971 de-coupling of gold from the dollar. Dr Hudson explains how it’s all working to our demise.

This was in August before we see now Kucinich, like Paul, is being kept out of the debates and marginalized by the media. Hudson is Kucinich’s financial adviser. Some of you may not agree with his tax solutions but regardless, this is a scathing indictment of the current globalist capitalist financial/economic system. Deeply corrupt and terminal.

Dr. Michael Hudson on Financial corruption and collapse
Part 1 – Aug 15
Part 2 – Aug 22

Links on this site to the Aug 15 and 22 interviews.