Tag Archives: Economy

The NYE Fiscal Cliff is a Buffalo Jump. Is your herd going to fall for it?

Fiscal Cliff is a Buffalo Jump
DENVER, COLORADO- The DC Kabuki Divas are amping up their New Years cliffhanger, the so-called Fiscal Cliff, to inaugurate domestic austerity measures meant to cement the widening income gap between the rich and everybody else. If it’s a cliff, it’s a buffalo jump off which the easily panicked are stampeded to their death. Fiscal Cliff even shares the same initials with the last economic extortion ploy, the Financial Crisis which intro’d President Obama’s preceding term.

Spain- the leaden housing bubble now accused of sinking Eurozone economy

Another housing bubble and another huge bank bailout being demanded by the world’s superrich! And the working people being asked to take the blame once again, tighten even further their belts, and ‘cut back’ from their already low standards of living. This time its Spain; last time it was Greece; and before that Iceland. The superrich once again say that if the common folk do not agree to their forced diet (austerity program), that things will get even more horrible for them! But with an unemployment rate already at 25% how much worse could it get for the average Spaniard? And who will the superrich come to take down next after they put their murderous programs in place in Spain? Spanish Banks Need $46 Billion, I.M.F. Says in Audit

War is the neo millennium Jobs Bill

To laud this tragic now banality, Fort Carson has a job fair today, but those most suffering under the neo liberal economy need not apply. To attend the event held on post, potential job applicants for the military industrial sector, need what voter disenfranchisement projects push for election restrictions, a federal or state ID, vehicle registration and proof of insurance, for entry level non-union contractor labor that will barely support that.

Europeans increasingly are rejecting US and German elites’ sponsored austerity programs for their nations

All across Europe, European nations are increasingly rejecting forcefully the austerity programs for themselves devised by American and German corporate elites. The latest is Romania’s Government Collapses Amid Austerity Backlash …Why should people be forced to cut out necessary social programs just because the foreign capitalists say so?

Why I Occupy Walmart

MY ENDGAME in occupying Walmart is to rally union members to the Occupy Movement. Union members, not unions. Taking the fight straight to Walmart, one of the most despicable, exploitative despoilers of the world’s people and economy is something the big unions should have been doing thirty years ago. Maybe their members will finally see that they’ve been sold up the river by their supposed representatives. That neither local nor national unions are expressing solidarity with us on the sidewalks of these super centers is proof that the only wages and working conditions they’ve been protecting are their own.

$90M in raw profit, 49 layoffs…

That would be our old fiends Focus on yer own damn Family. We’re talking here about a corporation which produces NOTHING. No products. A book that was given for free (but at great personal cost from the donors) and what else? Hatred for non-compliant non-conformists and of course, a massive Tax Exemption because they can call themselves a church. I knew a “preacher” 30 years ago who did that as a money-laundering outlet for The Dixie Mafia.
I know here a few people who used to work in the mail room. Which, mind you, involves its own ZIP code. They (anecdotal evidence) opened the letters, threw the checks in one box, cash in another and prayer requests and personal letters into the dumpster. That 90 MegaBux represents a significant downturn for them, by the way.

Ninety… Million… Dollars… in one year.
They also include and count into their “congregation” quite a large chunk of the Republican and Tea parties. Folks who you know very well are going to deduct their “free will” offerings from their own taxes, thus forcing the United States Taxpayers to fund their Money Machine.
Yes, really generous of them.

Oh, and they don’t like people who get money without working for it… unless it’s Dobson and others exactly like them.

What, are the Chinese trying to mimic ALL our energy-sector screwups?

So they matched our Corporate Mining Accidents-waiting-to-happen-and-guess-what-they-do with similar ones by similar causes and similar results, and using Imported American industry analysts who also work for BP, Exxon Mobil, Massey Energy, The Peabody, etc…
Now, they’ve got a BP-esque Oil Spill in the Yellow Sea. Is it caused by their “socialist” supposedly publicly owned Nationalized Oil industry, now brought to its dying knees by the New Economy Capitalist Oil industry? Either one, of course, run under the supervision of the American and British Oil well, refinery and shipping Industry Experts who also work for BP, Exxon-Mobil, Massey Energy…
The Rule of Three seems to have been pretty damned consistent in all of these lately, too, so maybe we can expect the Fully Capitalized Russian Oil Slick on the (deepwater) horizon?

But not only are the Oil and Mineral extraction scams “safe as safe can be” they’re also supposed to be vital for the survival of our economy.

I always considered the massive food shortages that would be caused by the destruction of the ecology either directly through toxic pollution or “indirectly” through Carbon Dioxide, and artificially manipulated Ecologies using chemical fertilizers, herbicides and pesticides… I always thought that was kind of sort of like, you know, similar to NON Survival. I would muse and wonder who writes the Energy Company propaganda but then, it’s an in-house thing. They might farm out the spewing of such propaganda to Fox and AP and CNN etc… but the in-house writers produce the scripts the “independent” media are paid to mouth for them.

The Governors of Texas, Louisiana, Mississippi, Alabama and Florida…

Are taking sides with the Oil industry above all others. What a surprise.
The Oil companies can afford to eat the loss from a moratorium. Far better than WE can afford to eat oil. If they’re so damned worried about “their” workers they should have compensated them better, provided them with better workplace safety and had a contingency plan for disasters. As it stands now, they’ve been taking the Corporate Welfare and putting it into the pockets of their major shareholders and their political servants. If they’re worried about the lost wages of “their” workers, dip into some of that Corporate Welfare money and compensate “their” workers. Unless and until they do, they have no business bitching about anything.
We, The People have been subsidizing the destruction of the water WE drink, OUR air, OUR food, for far too long and it’s time the Corporate BigPigs put something back. The 5% at the top of the income scale, the Parasite Class, have more money than ALL the Working Class have combined.

Happy Earth day, to us!

Four decades in the making, and at the FIRST Earth Day suggestions were made to stop destroying Earth. Which, since any habitable Other Planet is decades in the future, and Earth happens to be our ONLY life support mechanism until then, and the destruction could kill Earth long before then…

At the First Earth Day, Public Transportation was touted. Since then, the SUV has taken over the roads, the roads have been expanded, still not enogh to satiate the Single Passenger Car Monster. The Oil and Coal industry fight very hard against public transportation, call it “socialism”.

There’s a growing industry in Solar Power, which the Oil and Coal industries, and the automakers, sick their TeaBag attack dogs on any possibility of Government assistance in the advancement of the technology. While and at the time lining up every budget cycle, or as they call it “Feeding Time”, sticking their fat corporate snouts in the Welfare Trough.

Disposable packaging was a newer technology, only a few decades old. Now that has mushroomed, (mushroom is a good image, it’s the fruiting carpophore of Mold, if you will: the Flower of Decay) as have Disposable Everything.

Earth might have given herself a gift in the form of increased vulcanism. Since “our” political leaders can’t pull themselves away from the Corporate Welfare Trough or grow any kind of Spinal Fortitude to stop the Oil and Automobile and Disposable Toxins industries from killing our planet, at least it will slow down Global Warming. Maybe long enough for them to get their fat porky Collective Arse in gear.

Mama Nature is doing for us what we should have been not-too-damn-greedy to do for ourselves.Not being a killjoy, I hope,

We do need to inject a LOT of righteous anger into the discussions today. Not Aggressive Violent Whiny Tantrums like the Tea-Bags throw, but a similar level of energy.

Remind the “conservatives” that the root of their name is “conserve”. Not, you know, wasting everything in a hedonistic orgy of greed.

The ecology is the very root of our economy.

Turning the economic corner to what?

economic indicators
The US media is now full of optimistic assurances to ‘We, The People’, that ‘the economy is turning the corner’ and all will be well once again as if that was ever all that much the case! Certainly it has been better though, yet today the US does not, and cannot, operate in isolation from the world downturn of Big Business. So how’s it going elsewhere? Take a look at our friends the British, and you will see just how they are doing? …and it’s not so good.

From the conservative and hallowed British newspaper, the Telegraph, you can read that the British economic collapse rivals Great Depression, and that British output fell 5.6 % over the last year! That’s a -5.6% GDP, so why is the American press so full of bullshit about ‘turning the corner’? A short stock market rally is no turning of any corner, but a negative rate of GDP for the last year is definitely an ominous sign. It will simply take more than positive spin or pep talks to turn any corner yet ahead.

The desire to paint such a big happy face comes about when corporate leadership has no plans to alleviate any misery anywhere these days. If anything, they remain absolutely fixated on spreading more misery through more war, rather than improving the economic welfare of people through PEACE and a productive society run by a productive economy. Capitalism simply is not a productive economy, but rather is merely a route for and elite to get rich off the rest of us and through a looting of Nature. Changing that would be turning a corner but capitalist elites are not going to change The-ir System.

Obama stuck with his finger locked in the damnation

obama fingerIt’s kind of sad reading the liberal ‘Peace’crat sites as they scream and shout about why the Democratic Party must prosecute The Republicans for the crimes of implementing torture. That can’t happen though, and there is one BIG reason why not? Can you guess why it won’t and can’t be done?

The Democrats didn’t get tricked by the Republicans at the beginning of open overt US government use of torture on prisoners, but rather were their accomplices in initiating it. There is no way in the world now that they can rush to investigate and prosecute torture use by Republican Party officials. When Bush began to use overt torture of POWs he told the Congressional Democratic Party leaders of his plan and got their OK for it. It then became an open ‘secret’ among themselves what they agreed to allow and went along with.

So why all this ‘innocence’ about this among the rank and file Democratic liberal voter set? Their leaders might have misrepresented their own desires for allowing this torture to happen, but only a tiny minority of Democratic Party voters perhaps? Support for using torture remains strong within the general US public, and that includes Democratic Party voting circles. Obama has had to deal with this Pandora’ Box because of outside (of America) pressures more than inside pressures. He’s ready to move ‘forward’ once again, and in today’s lexicon of the Demo Party bigwigs, forward means backward.

Can Obama pull his finger back out of the damnation and pretend to America and the world that it never happened? No. He is simply stuck, finger in the damn, and condemnation will continue to try to flow forth. He could go under like New Orleans did under Katrina, especially since he has his finger stuck in yet another damn, that one called the Economy.

Ground Zero for The Empire’s Collapse- Depository Trust & Clearing Corporation?

DTCCThe Depository Trust & Clearing Corporation or DTCC is possibly Ground Zero for the US Empire’s potential coming economic collapse, because it is the primary and dominant insuring company that guarantees pay outs for those who hold junk stocks, if they go belly up.

‘DTCC’s DTC depository provides custody and asset servicing for 3.5 million securities issues, comprised mostly of stocks and bonds, from the United States and 110 other countries and territories, valued at $40 trillion, more than any other depository in the world. In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value.’ Taken from wikipedia’s DTCC entry

Looking to see who is in charge at DTCC? Nice group of pics, right? Nice people I’m sure… lol… Good patriotic Americans and what all.

The DTCC history show 2 events that pushed this corporate outfit to the head. One was Bill Clinton’s deregulation of securities signed into law in 2000 at the end of his presidency, and the other was 9/11.

9/11 effectively was the death blow to paper securities, and DTCC was right there offering electronic securities instead. Here at DTCC’s site one finds this brief explanation of No More Paper: The Problems with Paper …see below

Q. I have heard that many securities were lost on 9/11. Is that true?

A. Yes, although they were eventually all replaced. Some $16 billion worth of certificates disappeared in the collapse of the World Trade Center towers on 9/11, and it took many months and nearly $300 million in industry costs to replace them. During this period, electronic records were used to ensure the owners of the securities could be identified. Meanwhile, shares held electronically were not harmed at all on 9/11.

OK, that’s nice…. And here, written in 1999 about the Clinton Administration’s proposed financial deregulation of that year that then later allowed the rise of even more speculative securities and the eventual domination of DTCC over the securities market, is the following…

***Threat to financial stability***

The proposed deregulation will increase the degree of monopolization in finance and worsen the position of consumers in relation to creditors. Even more significant is its impact on the overall stability of US and world capitalism. The bill ties the banking system and the insurance industry even more directly to the volatile US stock market, virtually guaranteeing that any significant plunge on Wall Street will have an immediate and catastrophic impact throughout the US financial system.

The Glass-Steagall Act of 1933, which the deregulation bill would repeal, was not adopted to protect consumers, although one of its most celebrated provisions was the establishment of the Federal Deposit Insurance Corporation, which guarantees bank deposits of up to $100,000. The law was enacted during the first 100 days of the Roosevelt administration to rescue a banking system which had collapsed, wiping out the life savings of millions of working people, and threatening to bring the profit system to a complete standstill.

As a recent history of that era notes: “The more than five thousand bank failures between the Crash and the New Deal’s rescue operation in March 1933 wiped out some $7 billion in depositors’ money. Accelerating foreclosures on defaulted home mortgages—150,000 homeowners lost their property in 1930, 200,000 in 1931, 250,000 in 1932—stripped millions of people of both shelter and life savings at a single stroke and menaced the balance sheets of thousands of surviving banks” (David Kennedy, Freedom from Fear, Oxford University Press, 1999, pp. 162-63).

The separation of banking and the stock exchange was ordered in response to revelations of the gross corruption and manipulation of the market by giant banking houses, above all the House of Morgan, which organized huge corporate mergers for its own profit and awarded preferential access to share issues to favored politicians and businessmen. Such insider trading played a major role in the speculative boom which preceded the 1929 crash.

Over the past 20 years the restrictions imposed by Glass-Steagall have been gradually relaxed under pressure from the banks, which sought more profitable outlets for their capital, especially in the booming stock market, and which complained that foreign competitors suffered no such limitations to their financial operations. In 1990 the Federal Reserve Board first permitted a bank (J.P. Morgan) to sell stock through a subsidiary, although stock market operations were limited to 10 percent of the company’s total revenue. In 1996 this ceiling was lifted to 25 percent. Now it will be abolished.

The Wall Street Journal celebrated the agreement to end such restrictions with an editorial declaring that the banks had been unfairly scapegoated for the Great Depression. The headline of one Journal article detailing the impact of the proposed law declared, “Finally, 1929 Begins to Fade.”

This comment underscores the greatest irony in the banking deregulation bill. Legislation first adopted to save American capitalism from the consequences of the 1929 Wall Street Crash is being abolished just at the point where the conditions are emerging for an even greater speculative financial collapse. The enormous volatility in the stock exchange in recent months has been accompanied by repeated warnings that stocks are grossly overvalued, with some computer and Internet stocks selling at prices 100 times earnings or even greater.

And there is a much more recent experience than 1929 to serve as a cautionary tale. A financial deregulation bill was passed in the early 1980s under the Reagan administration, lifting many restrictions on the activities of savings and loan associations, which had previously been limited primarily to the home-loan market. The result was an orgy of speculation, profiteering and outright plundering of assets, culminating in collapse and the biggest financial bailout in US history, costing the federal government more than $500 billion. The repetition of such events in the much larger banking and securities markets would be beyond the scope of any federal bailout.

The complete article published back in 1999 at Clinton, Republicans agree to deregulation of US financial system Almost a totally prophetic article, as it turns out. So now we wait and see if all the government money thrown at these financial pirates…YES, financial pirates…’works’? Will it be capable of floating all this junk held insured by DTCC?

Consumer confidence men

Sam IsraelThe more I see pundits scoring Barack Obama’s performance based on Wall Street’s reaction, according to how much hope Obama is able to infuse into the public’s faltering confidence in the economy, I have to ponder the uncomfortable etymology of the term CON ARTIST. Con Man is short for Confidence Man, itself a now obscure euphemism for chiseler, defrauder, grifter, scammer, swindler, gouger, or fraud. But the term is still charmingly descriptive.

While even the disreputable economists now admit that Americans can expect much worse from our economy, Bill Clinton is publicly counseling President Obama to come across with more confidence about our nation’s financial prospects.

The ex-president formally known as Slick Willy is talking about your confidence to spend, without regard to whether you may lose your job, your home, your health, or your life savings.

It’s money that makes the world go round. They need everybody’s, including yours. All the better if you have to borrow it, because you really are of little use to a monetary system unless you take out a loan and pay interest.

Otherwise, with what is anybody going to laugh all the way to the bank?

The following are a few relevant dictionary definitions. Actually, I thought they were going to be more tangential:

consumer confidence
The degree of optimism that consumers are expressing for the state of the economy through their saving and spending activity.

con·fi·dence
Trust or faith in a person or thing.

confidence man
A swindler who exploits the confidence of his victim.

confidence game
A swindle in which the victim is defrauded after his or her confidence has been won.

confidence trick
A swindle in which you cheat at gambling or persuade a person to buy worthless property.

toxic asset
Not in the dictionary. Not even Orwell’s 1984. Could this be the balance sheet doppelganger to the “good-for-you liability?” Does it share the value of a “profit-net-loss” as n approaches zero? The meaning of toxic asset would be recognizably oxymoronic, if it weren’t for the fine suits worn by the FED’s confidence men. Literally, shouldn’t a carcinogenic nutrient translate, currency-exchange wise, into Funny Money?

Much as the banks want to disguise it, a Toxic asset sounds to me like Spilt Milk, an idiom for which we already know the recourse. A chorus of cries from Bernanke, Volcker, Paulson & Rubin would not then be able to convince us to put it back in the bottle and pay for it again.

The shipping news

container shipThe whining and hang-wringing about the “credit crunch” is getting on my nerves. It was this supposed crisis that led to the $700 billion bailout and we’re told every day that it must be solved quickly, no matter the cost, or we’re toast. But why? How many of us are actively seeking credit right now? Surely the developers and retailers want us to have lots and lots of it so we can keep hyper-consuming their goods; the bankers want us to have it so they can collect their interest and fees but, seriously, is free-flowing credit what the American public needs right now? Living beyond our means is what caused the credit meltdown in the first place!

Here’s a meaty statistic: the Baltic Dry Index, which measures the demand for global shipping capacity, dropped from 11,793 last May to, get this, an inconceivable zero. The complexity of the BDI is beyond the scope of this post but, suffice it to say, there are lots of cargo ships sitting at anchor today. The collapse of the BDI augurs a rapidly evaporating demand for foreign goods. Combine this with the massive deterioration in domestic consumption during the fourth quarter of 2008, and wager a guess as to the meaning of it all. We’re not buying anything and the world is following suit! So tell me, Wall Street wizards, why the continued hyperbole about a credit crunch?

How could our purchasing habits change so dramatically overnight? Currently, Americans own an estimated 250 million personal computers and 175 million iPods. There are 9 million mobile homes within our borders, approximately 102-130 million single-family homes, and countless million apartments. One could safely assert that there’s a home, an mp3 player and a personal computer for every man, woman and child in the United States. I’ll go on. Everyone has a television, a cell phone. Nearly everyone owns a car. Most have closets full of clothes they never wear, and we all have too many shoes. So when Barack Obama, Ben Bernanke or anyone else talks about freeing up the flow of credit, we should ask ourselves why.

Recently, through the dense economic fog came a thin ray of revelation: I may actually have enough stuff. Perhaps, just maybe, I can stop buying new stuff for awhile. I can keep my slightly dented iPod for yet another year. My Toyota with 90,000 miles is probably good for another road trip or two. I won’t move to a bigger house just yet, or buy the 52″ flatscreen Santa forgot to leave under the tree. I may have to forego the spring sales and make do with last summer’s tank tops, wrong color though they may be.

I don’t mean to minimize the hardship of doing without, but we are a nation of excess inventory. Somewhere in our stuffed dressers and overfull garages, there is room to accommodate a changed perspective.

Wall Street is telling us that all will soon be well. If we just give them hundreds of billions, they’ll take their cut and loan the rest to us so we can get back to “business as usual”. But what if we don’t cooperate with their economic “recovery” plan? What if we collectively turn our backs on Wall Street and Madison Avenue and live simply, buying what we need and paying as we go, stopping to share with others along the way?

Remember, our banks and investment companies built themselves toward inevitable failure during the economic boom. Don’t expect them to act nobly in the coming recession because they won’t. You can bank on that. So stop worrying about their silly market indices and their credit machinations. Let the Federal government give them another trillion pieces of worthless paper. Help them plaster their walls with negotiable instruments. Make them eat derivatives for breakfast, sell them short against the box and leverage them to outerspace. Leave them with their excess shipping capacity and their phantom dollar bills.

It’s time for the rest of us to disembark this sinking stinking ship for good.

Who is the economy calling stupid?

Okay, I’ve had enough of our readiness to believe, about the economy, that nobody knows what’s going on. Nobody will tell you what’s going on, is what’s going on.

Even my deepest thinking friend tells me, “Eric, they really don’t know” (The game theorists, the would-be global axis shifters, don’t know.) He may be right, but that’s not who we’re talking about. Between those guys, and you and I, who have no clue about where the economy is going, is a hand-basket courier. That composite abstraction at the handlebars knows the destination, he’s being paid cost-plus for the delivery, and he knows enough to collect his fee in advance.

We thought “it’s the economy, stupid” was directed at George Bush the Senior. Who is/was stupid? I’m finding the syncronicity of Alanis Morissette’s Jagged Little Pill song “Isn’t it ironic?” superlatively ironic. The era when a mass audience un-learned the meaning of irony, was when the joke was really on us.

Today the accepted theme to describe the economy is: nobody knows. I recently heard the governor of Colorado speak to the need for budget cuts in these hard times. He introduced the subject of the economic downturn by explaining, almost as a throwaway foregone conclusion, “Nobody saw this coming.”

I thought, really? This is what Americans are satisfied to expect for leadership? Elected authority figures return our system to us, broken, with not a mea culpa, but mea confuso. And we buy it.

For me, this no-comprendo motif doesn’t play well in Adagio. Today DC’s new lawmakers want to know what’s become of the first half of the TARP bailout money, and the good-enough-for-primetime answer is “nobody knows.” Don’t you just want to stand up and beg your fellow audience members for a collective show of incredulity? “NOBODY KNOWS?!”

Whoever pocketed the 350 Billion, KNOWS.

From explanations of the graft in Iraq, we the television public KNOW that just one million dollars in t-bills weighs more than you can get past surveillance cameras.

From nighttime video of the economic collapse in Argentina, documentary footage viewers know it takes a continuous train of armored trucks to do a run on the banks before the public gets there.

By the way, I’m certain Billion is always capitalized, out of respect for its size.

“Nobody knows” where went the 350 Billion? No. Nobody who knows, intends to tell us.

Either way, we don’t get to know, but the distinction makes a difference, don’t you think? The excuse we’re given for not dwelling on this incongruity, nudge nudge wink wink, is that all misdirection is for the sake of consumer confidence.

To look behind the green curtain is to become dis-illusioned. If you explain the slight of hand, instead of building confidence, you throw fuel on consumer doubt.

The better economists opposed the bailout. Hundreds of them signed a petition to tell us what’s going on is a heist. Under George Bush, bankers have been making off with the US treasury. What they couldn’t spend pay themselves to foist a war, or give themselves in tax cuts, they are having to abscond with under cover of an eleventh hour “bailout.”

The best of the honest economists, Paul Krugman, was given a Nobel Prize. At the same time, our president-to-the-rescue is saying he’d consider the advice of “even Paul Krugman,” like Krugman is a fringe opinion.

Do we empower the American public beast with a truer education about what’s happening to their finances, or do we narrow their peripheral foresight like the gangway to the abbatoire?

P.T. Barnum said no one ever went broke underestimating the American public. Barnum saw opportunity and he took it. I’ll bet he wasn’t satisfied to invest his winnings on the advice of the public’s broker.

The economy is tanking because the Bush investment banker free-for-all is over.

The cash heart of the consumer confidence fattened-calf is already in the bloody hands of the high priests. The American consumer is what’s being thrown off the wall. And the communal wealth of America’s middle class can’t be put together again because the pieces which formed Humpty Dumpty’s actual pre-confidence-ballooned size are going to come up missing.

Not missing, exactly. Look at the corporate jets, private skyboxes, enormous estates, private island kingdoms and advance ticket sales of quarter-million-dollar fares into space.

With much recent ballyhoo, George Bush set aside for protection some nature preserves in the Pacific. Unlike Yellowstone, or Yosemite, these parks of azure coral reefs are inaccessible. To you.

Barack Obama’s spread-the-wealth-around campaign lingo had nothing to do with the mad scramble to divvy the pot. Obama represents our non-insider’s reflexive grab for the fewer spoons. If Obama represents a wisening up at all.

Beyond buy low, sell high, here’s an example of how the scam worked: If a $100K house can be made seem worth $500K, a broker gets five times the commission, say $60K instead of $12K, and collects that money in cash. When the cows come home, you’ve got just a house, and let’s admit that value is arbitrary. But the broker is free and clear, his gleaning of a cash value done.

And actually, your house is not even worth the cost to build it. As the democratic capitalist apparatus downgrades, and the wealthy lose empathy for the lower classes, your house is worth just the value of the shelter it provides. Look at the concern they show for your health care. Your well-being, food and shelter wise, is worth only as much as the value you add to your landlord’s pleasure.

Russia to Europe- Back US war making then pay the price

RussiaRussia is starting to play tough with the US’s European allies because of their support for the constant US Pentagon aggression. No longer can the main European countries just verbally waffle along while doing absolutely nothing other than backing the belligerent US foreign policies. EU warns of legal action over gas

So the Europeans are going to try to wage their own form of economic warfare against Russia through the courts, but that just won’t work and is more straw than substance. Europe is energy short and why should Russia just lay back and do nothing as the US tries to loot the world’s remaining and rapidly declining energy resources for itself? There simply is no reason and now the Europeans are going to have to start paying the price for riding along with Pentagon aggression throughout the world. Russia’s had enough.

Santa bought little; Barack to throw paper dollars into air

homeless in carsThe Christmas shopping season was the worst in four decades with sales slumping everywhere. Wal-Mart and other retailers warn after weak December So our new fearless leader, Barack, plans to continue Bush’s program of throwing deficit dollars into the wind towards the rich. Everybody’s on board the road to bankrupting the US government!

What happens if the printing out of new dollars to give to bankrupt companies ‘fails’? What happens if they still go under? Who will have been placed into holding the debt? Why that would be you and your kids, and you might well not even have your over mortgaged house as a roof over your head, nor have a job to hold onto? Due to the loss of value to the national currency, you could find prices going UP, Up, UP! You will find yourself living in a country sunk into holding trillions of dollars of debt it now owes.

However, since your country’s government will still be holding the balance of the world’s nuclear weaponry, there is a silver radioactive cloud to the future here. What country is going to be collecting on what your government owes them? Sound like a scene from the movie, The Godfather? What’s a little collateral damage here or there since you are a Proud American? What’s a little debt among ‘friends’?

A week or so ago I came across a homeless person living in his car, but he had bumper stickers placed all over it with ‘United We Stand’ as the message. That can be your inspiring message in this rather bleak scenario. At least you will be an American and America does best at passing off misery onto others… others like YOU.

LAs Homeless blog asks, Do we set up car parks for Homeless Living? A good question…

Merry Christmas, Santa has a new ride

Christmas pickup
Season’s Felicitations from Not My Tribe
COLORADO, 2008- A Manitou family in Crystal Hills opted to hang Christmas lights on their old truck in lieu of their home. Was it to economize, to conserve, or to commemorate 2008 as the year of the pickup?

If I’m the only Grinch ascribing that interpretation, I still think it’s unassailable. 2008 was the year the pickup truck hit the crash test barrier.

Gas prices of four dollars per gallon tarnished the appeal of the pickup. Even now as inexplicably low fuel costs are dangled before Americans like a dealer’s freebie, the downward spinning economy has doomed the in-utile utility vehicle and there’s no getting back up on that saddle.

Is that any kind of Christmas message? Sure! It’s Obama’s urbane, metropolitan, social-conscious, victory over the Republican cowboy. Common sense over common simple. Practical over pretend.

So much for the economic bailout plans of the wealthy criminal class

changed prioritiesThey had to give that money away to the super rich now didn’t they? It was to save the poor they said, too. It was to save us all from imminent disaster the pundits and politicians clamored. Political whores… They lied and we didn’t have the organization to do anything about it, having already put all our efforts into getting those most responsible for the mess elected once again! Stupid us.

The US ruling class gave away a trillion, and the Europeans, not to be outdone, tripled that for their elites. Can we all get a refund now? This bailout won’t work, cannot work, simply because it rewards corporate criminality with a big gift, and not the restructuring they all need, part of which would be to jail the White Collar criminals who are still in charge.

The mess is all being blamed on inappropriate leveraging, when the inappropriate leveraging all along has been corporate lobbying and control over the national governments of the US and the European nations. It’s time to get angry, get organized, and change the plans of those who would destroy the planet, let alone merely the economy. It won’t happen without anger and opening our eyes, ears, and minds to new thoughts. Meanwhile we just wait passively for the punishment they are dead set to inflict on us all. We have no plan at all.

A Sustainable No Growth Society needed immediately

mother natureWe are told that the only way out of economic collapse is to restart ‘the economy’, and without that we face a grave crisis. But isn’t that just plain wrong? To restart ‘the economy’ is to restart the destructiveness to Nature, or rather to just renew it. Actually, what is needed to prevent economic collapse and the Death of Life on Planet Earth is to begin a Sustainable No Growth Society immediately.

I think that all of us instinctively know that this is absolutely true, but we have no leading societal institution advocating such so we think that it is nothing more than a Utopian dream of sorts to want the Return of Nature. We then pinch ourselves and fall back asleep once again.

How sad to have such little self confidence, is it not? Our capitalists hate Nature and only want to use it to make personal profits., and they simply do not care about the costs to all of us. They consider themselves the great pragmatists, and so seemingly do the great mass of the followers of The Rich.

Capitalism needs constant growth of Nature’s destruction to survive. People need Nature to survive. Nature needs people against Capitalistic growth to have a chance. What’s your response to Nature’s needs?

The crazed cowgirl wildly firing shotgun blanks

Palin blew it for the increasingly desperate McCain team with her remarks that Obama cavorts with terrorists, and now has succeeded in making the Republican candidates just look desperate as the economy goes down the drain. Analysis: Palin’s words may backfire on McCain

As the European economy continues to crumble this next week, the American economy with the big give away plan now passed will be hit hard, too. The majority of Americans blame the Republicans more than the Republicans and that will help to sink the McCain-Palin ship. Firing away with blank shots like the Obama terrorist nonsense will only turn more Americans away in disgust from casting a vote for these clowns. Clown Group Two (the Democrats) is headed to the White House unless Cheney-Bush can unfold the October Surprise real soon?

Let the greedy bastards eat cake

Class struggle posterThe tax break for the rich wasn’t enough, the GWOT siphon on the US treasury isn’t flowing fast enough, CEO bonuses aren’t enough, usury is not unregulated enough, bankruptcy laws to ruin small borrowers aren’t predatory enough, the disparity between rich and poor is not obscene enough.
 
It’s not enough that the parasitic rich contribute only smoke and mirrors to the economy. Now the [investment] bank robbers are dropping even that pretext to demand that US taxpayers simply fork over the money. And don’t anyone try to follow them out.

Michael Hudson on paying for the bailout AND the fallout:

It is bad enough for the government to buy $700 billion of bad bank investments at prices that no private-sector investor has been willing to approach. This itself is an undeserved giveaway to the financial institutions that caused the problem by living recklessly in the short run. But making them – and indeed, helping them – pay back this gift with the aid of favorable tax and deregulatory policies will simply shift the cost off their shoulders onto those of bank depositors, credit-card users, mortgage borrowers and hapless pension-fund contributors to the money managers who have taken most of the current income in the form of commissions, salaries and bonuses to themselves. This will sharply add to the price of doing business in the United States, and specifically to the economy’s debt overhead by the banks making even more predatory loans.

It gets worse. In order for the existing junk mortgages to be “made good,” real estate prices must be raised further above the ability to pay for this year’s five million homeowners in arrears and facing default. Is this a good thing? Is it good to raise access prices for housing even more, forcing new homebuyers to go further into debt than ever before to gain access to housing? Mr. Paulson has directed the Federal Reserve, Fannie Mae, Freddie Mac and the FHA (Federal Housing Authority) to re-inflate the real estate market. They are to pump nearly a trillion dollars into the mortgage market.

Fiscal policy is also to be brought to bear to turn the real estate market around by pressuring cities and states to “help homeowners pay their mortgage debts” by cutting property taxes. The idea is to leave more revenue available for property owners to pay mortgage bankers. Unfortunately, this will oblige cities to make up these cuts by taxing labor and sales, running deeper into debt than they already are, or cutting back their spending on basic infrastructure, education and public services and continue shortchanging their pension funds. This is the price to be exacted to “protect the taxpayer’s interest” by bailing out irresponsible banks. The solution is to let them make even more money by acting in a yet more predatory way.

And:

The most egregious pretense is that the problem is only temporary, not structural. We are merely “freeing up” the market for new loans. This is precisely the opposite of what the classical economists meant by “free markets.” What America has is a bad debt problem, not a “liquidity” problem. There is no “illiquidity” when people refuse to buy a junk mortgage on a property worth only a fraction of the mortgage’s face value. Many of these bad mortgage loans are fraudulent. The Treasury bailout seeks to make $700 billion of fictitious financial claims “real” – that is, way overvalued as compared to their actual worth(lessness).

Transferring bankruptcy from the private sector to the public sector

EagleWith all this bad private debt being hauled in by the US government hardly any notice has been given to the idea that the US Federal Government itself is putting itself at risk of default, too? In a way a governmental default (declaration of bankruptcy) would be a sort of poetic justice for the people of a country whose government has played an integral part in putting other governments around the globe into default with creditors in the past.

After all for just one given example, how much did America cry for Argentina when its government broke down? The US government had much to do with that governmental default, too, despite the fact that it occurred in a place we hardly even consider as being on the map.

Bill for US rescue package could reach $1 trillion All this bad debt taken in by the Feds can be covered easily by issuing paper dollars that Americans will be forced to use as currency, but what about others outside our national borders? They will simply devalue the US dollar in relation to their own currencies which will not be necessarily be covering bad debt of their own. When goods are imported into the US, we may well begin to see the start up of first $5 Stores, and then $10 Stores for those on tight budgets. The sky can be the limit here, can it not?

At some point foreigners may simply say ENOUGH. None of your dollars are worth even the paper they are written on and we will not accept them at all. Your country is BANKRUPT. So transferring private bad debt (‘toxic’ is the word they actually use) into the hands of the Federal government is no panacea at all. By itself, it cannot turn the situation around at all, as it merely buys time and transfers ‘responsibilities’ onto others, mainly onto the American people instead of America’s super-rich.

Toxic Debt

suckerDo you have any ‘toxic debts’? Maybe you moved out of an apartment and the place put hundreds of dollars of extra charges on your credit record claiming you did damages, even though these claims are false? Maybe you ran up 2 cents over on a debit card transaction, and the bank ran up their ‘overdraft protection’ charges on you? Maybe you were sold a junker and it fell apart a couple of miles off the lot? Are they still trying to collect payments from you?

Maybe you had a moldy apartment that was killing your kid and had to bolt the place, and they are literally going after you for your ‘toxic debt’ because you broke your lease? Maybe the police ran up some funky fines on you while driving, since they had a quota of tickets to give out that day? Maybe you bought a trashed out trailer home that you are unable to sell or live in? Sorry, none of the trillion dollar government bailout is for YOUR ‘toxic debts’, but for other private individuals’ debts instead. It’s their government, not yours!

You will pay for their ‘toxic debts’ though with your taxes. You might not have even voted for the 2 political parties who are having your money go to write off individuals’ ‘toxic debts’ knowing that none of them represented you and vaguely thinking that the elections are more a sham than anything? Too bad since they are still going to steal your money to pay off their benefactor’s ‘toxic debts’. Good luck finding employment to help them out! You’ll need it.

Oh, and YES. It might be time to start getting a little madder about this 2 party con game that one single economic group is playing on you? The business community thinks you too stupid to participate in their ‘democracy’ and you have passively been mainly proving them right by sitting around just taking it. Maybe it’s time to wake up and do a little to bring this system of theirs down? Think about it some in the days ahead, why don”t you?

U.S. readies massive toxic-debt plan Good-bye money…