Obama’s coverups

obama koolaidObama is covering up for George Bush’s Administration use of torture as policy. He wants to have it both ways, first claiming that he is changing policy, then in engaging in the old policies of ‘rendition’ and coverup of torture of POWs held by the US military. But there is yet another coverup underway, and that is how Obama is covering up for George Bush’s illegal support for the illegal actions of Israel in Gaza and elsewhere (remember Lebanon?). He may want to repeat the same under his own Administration? From MSNBC:
Obama administration defending Bush secrets.

You see, Obama’s Administration is all about coverups and trying to put a new face on the same old policies of the Republican Party, whether it be with his domestic or his foreign policies. Pretending to leave Iraq yet staying there. Pretending to stop US government made torture, yet continuing to engage in all the activities that use it (occupations of Afghanistan, attacks on Pakistan, continued worship of the military-industrial complex’s God GWOT). Obama is clearly one of the most duplicitous presidents the US has ever had. He is continuing the Federal Government give away’s to the corporate world, too.

And Number One on Obama’s coverup foreign agenda is continued coverup of what the Israeli game plan is all about, simply because it is the US government game plan also. Obama is continuing Cheney’s and the neocon’s program of trying to restructure the entire Middle East into a more compliant region for continued US domination and control of the peoples and the natural resources of the region. Oil is still the name of the game and Israel is still the US bulldog enforcer.

Obama needs to cover for Israel’s crimes since he plans to use their crimes to help further the US government’s own crimes. The US under Barack Obama is firmly on the side of Israel’s ethnic cleansing program in both Israel proper and in the Occupied Territories, and these are Obama’s coverups of the Bush Administration as much as how he is trying to coverup for Bush by keeping torture records secret, keeping executive privilege intact, and so on. There is no change beyond the superficial change of faces and parties in the White House.

Military-industrial war games shall continue and Barack will now direct them. Just don’t buy these Obama coverups if you want real change to ever occur? Don’t let him coverup for the use of torture nor the use of Israel’s military machine.

The Democrats ‘stimulus’ package aggravates the economic disaster instead of fixing it

stimulus-package.jpg ……. It really is too much to see all those liberals getting on the Republicans’ case for their opposition to the Democratic Party’s economic ‘bailout’ plans. Barack’s giveaways to the rich corporate sectors do not alleviate the economic collapse but just pile on to it. So do liberals really want to be left holding the bag and later get blamed by the Republicans for helping pass these government give outs to all the wrong folk built on increasing the Federal debt?

Donkeys have never been so dumb as these American ones seem intent on being! True, Liberals have never been much more than just marginally smarter than the Conservatives are in the US and we’re seeing that in how they have been suckered into supporting an entirely conservative response to the unfolding worldwide disaster now being advocated by their supposed modern day Abraham Lincoln liberal liberator, Barack Obama. However….a real economic rescue plan for Americans would have to be built on several key ingredients, and Barack Obama has used and dealt with none of them.

1) Startup of a new single payer medical system that takes the insurance companies, the hospital and nursing home chains, and the medical equipment/ pharmaceutical companies right out of the control box they presently enjoy, and sets the patient and community into the driving seat where they have always belonged.

2) Nationalizing bankrupt financial institutions and companies in key areas of production (banks, automobile industries, energy companies that pollute, steel, vital medical institutions, major retail outlets that are going under like Circuit City, etc.) and encouraging workers control (unionization).

3) Increasing funding of Social Security programs of all kinds with an emphasis on doing away entirely with privatized retirement schemes that privilege some workers at the expense of others.

4) Instituting national equalization of funding and national Federal funding of the Educational System, and doing away with unequal privatized educational schemes and unequal local funding of education.

5) An immediate defunding of the bloated military-industrial welfare scheme centered on government contracts for the Pentagon’s toys.

When none of these key ingredients for a real economic restart of this country are approached by the Democratic Party-sunk American liberal community, you have a pure recipe for eventual political disaster, as the Republican Far Right will eventually move themselves back into position to retake political power in the White House once again. The Democratic Party truly is a gigantic sink hole that destroys all hope for real change ever being on the agenda, as long as liberals defend the package that is not defensible as being any sort of progress. Why be such gluttons for punishment, Liberals? You need to dump the entire idea of giving support to the Obama package, and sooner is much better than later when the damage will already be set in concrete and done.

The Democrat Party’s magic math

magic mathUS House passes economic package without a single Republican vote reads the Headline. The Republicans also have their own magic math ‘economic recovery’ giveaway for the super rich, but they are smart enough not to be caught together with the Democrats ‘winning’ now, but later to be caught by the public holding the burglary bag of new national debt created! They can say they ‘opposed’ The Grand Give Away, and they will have, too, since they were not in charge of doing it their way.

So let’s take a look at how the Democrats are using their magic math to try to deceive the newly going-to-be-unemployed/ underemployed.

In 2008, 2.6 US jobs were lost. This year the loss will be 3 million or more per relatively optimistic forecasts. Barack Obama’s most recent victory in the House called for spending greater than $800 billion to create what he says could be up to 4 million jobs (his words, not mine). Wait a sec? Then where will all the other money be going to be spent?

Let’s imagine these new jobs paying $20,000 per year and times that 4,000,000, shall we? That’s only $80 billion and the Feds could just give that money away to these 4,000,000 happy theoretical new workers for 10 years for a cost of 800 billion? Is that Obama’s plan? No, it is not. He is not even going to create 4 million new jobs for one whole year with that $800 billion of tax money obtained, and where will that money come from anyway? Eventually it has to come from public taxes.

But wait a second now? Most of that money will actually go to financial bailouts of institutions going under, as the Federal Government takes on their bad debts AND their top execs’ ill gotten profit making, all bills now due. The government will be ‘giving’ with one hand (a little to the small fok, and a much greater amount to the really large folk) and taking away yet more with the other hand, and almost all of that to be taken coming out of the small folks accounts! And then there will be the interest to forever pay back…

So this whole new Obama game plan will become the financial re-foundation of the New World Economy restabilization? Hardly! It can only be the new foundation for a total disintegration of the entire US national government into having to make foreign debt payments for an eternity. Forget the mirage of 4 million new jobs which is nothing more than a sugar coating for the Grand Theft. It’s not icing onhte cake but the cover-up for the theft!

It is increasingly becoming clear worldwide, that the business community has no real answers for anything these days. All problems the world faces are without current economic leadership having any real solutions to propose. They are simply glued into The System and the System is simply glued into one of its gigantic and periodic downturns. And since the Chinese and Russians are now glued into that System themselves, they have little to nothing constructive to offer as alternative either. In fact, their world looks even grimmer than ours does.

Now here’s the real math from Barack Obama… New bank bailout could cost up to $2 trillion: report from the Wall Street Journal. I thought these were the fundamentalists who were utterly opposed to just throwing money at problems? I guess not. And after the thrown money fails to solve anything, then what? Well it might come down to many people wanting to hang Obama in a couple of years? Why? Because then all there will be is a huge governmental debt on the $2 trillion spent, and a still totally dysfunctional economy. Beware the man who’ll leave you with just small change. It’s still welfare time for the elite guzzlers of that most important commodity.

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.

The league of Southern Gentlemen cons

Senator Ted Kennedy suffers seizure at inaugural luncheonDC- Look at the old ambulance chasers!

Senator Ted Kennedy was EMT’d out of the inaugural luncheon, seen off by concerned friends Senators Kerry, Dodd and Hatch. Wait a minute — Senator Orrin MoFo Hatch?! Has the DC mutual admiration society no standard?

It may be that having to address your debate opponent as “the right honorable so-and-so from such-and-such” keeps disagreements from devolving into fist fights. On the campaign trail, this convivial artifice translates into referring to your rival as “my good friend.”

What does it mean, all these lawmakers, being best buds? Do they disagree on matters of principle, or is it a tomato – tomahto charade? Maybe the fundamental values of these civic minded gentlemen millionaires aren’t so far off.

If you ascribe to the notion that left battles right for the opportunity to hold the government accountable to its subjects, you already know that the difference between liberals and conservatives is more than academic. It’s not about the Federalist Papers any more. In DC today, you’re either an idealist, or you’re a crook.

We can give the Democrats their unfettered majority chance to show of what political mettle they are made. But eight years of Bush and his compliant Congress have shown the Republicans to be crooks.

Crooks are a scourge of human nature, fair enough. But do you mean to count a one among your best friends?

If Ted Kennedy were the champion he pretends, or likewise were Kerry or Dodd, they’d have kicked Orrin Hatch to the curb like the morally unambiguous cretin he is. If anyone has thwarted a Democrat’s legacy, it’s the earache-inducing reprobate Senator from Utah.

When you don’t pay ‘war taxes,’ is it ‘peaceful nonviolence’ or more like smug self-righteous religious complacency?

Pontius Pilate chief tax manMonday night I got asked out of the clear blue sky at a meeting of self described ‘Peace’ advocates if I paid taxes? I was kind of drowsy from shift work I had just finished doing, and didn’t really consider the fact that Jesus was asked just about the same question in his time, but by those he considered to be spies of the Roman Empire. I was being asked the question though from a self righteous and complacent ‘Quaker’ woman who was in the process of giving me her idea of a litmus test, for whether I would be allowed by her and her husband to be in one local antiwar grouplet here in Colorado Springs called the PPJPC?

I failed her test when I answered that I did indeed pay taxes (too much so IMO), and my statement that it was so was soon followed by a self righteous and complacent harangue about her opinion that the woman and her ‘leader’ husband did not pay ‘war’ taxes and that that was that and why did I not do as they do? The implication was that I should just shut up and let them run things in the group and keep my mouth shut up for good. Why? Well because I pay my taxes!

Further I was told at the meeting by the Pikes Peak Justice and Peace Commission that I was not ever going to be considered a member of the group, no matter what. I was told that I gave neither time nor money to the group!, and that I was out of it in their eyes because I had written previously in the local press about how the leader of the group had called the cops on us for trying to hold a meeting to plan antiwar activities outside the locked doors of the group’s offices.

“All those bad things you said about us of the PPJPC!”

Locked out, because as members of the group we wanted some democracy inside an organization that has but one pretend membership meeting per year and is run by salaried office folk who want to be small business adminstrators instead of anything much else!

I have been told too that I must sign onto some sort of ‘adherence’ statement to the ‘non-violence’ aim of the group. Further the religious pacifists running the show have stated to the press that I and others, too, do not adhere to their Christian motivated ‘nonviolence’, implying to the police and press that we are time bombs about to go off! Meanwhile, they continually invite representatives of the police to ‘meetings’ with themselves so that they can supposedly make their events more ‘nonviolent’, I guess? A hug here, a handshake there, and let us know what you want us to do, Peace Officers?

So back to the question of whether it is peaceful nonviolence’ or self righteous complacency when one does pay taxes at this time of the year? Let us go to The War Resisters League and examine their understated list of the Consequences of War Tax Resistance some. What can happen if you just opt out and tell IRS to shove it? Here, these Christians tell you that you can go to jail but not to worry about it because almost nobody does (in the US). Go figure? To the feds it is more trouble to jail these few religious ‘resistoes’ than to just harass them in other ways. Why shoot down a gnat with an elephant gun?

However there are other consequences, including your right to travel freely outside the US terminated (one of local pacifist families has been confronting just such a restriction imposed most recently, as they were barred from visiting relatives in Canada). You can lose your income through a restriction coming about on licensing in the line of work you do. You can lose your property, much more of it than if you had actually paid those taxes to the government. That happens a lot per the War Resisters League, but they assure us that it all looks good on their own balance sheet of pros and cons! Well not on mine. Nor on Jesus’s balance sheet either! He was resurrected but I don’t know really whether that would happen to me if IRS decided to crucify?

But back to the case of the Quaker woman and her ‘leader’ husband who don’t pay taxes as they assured me that was the case. Her husband actually was in the military and supposedly gets some special pension for that, that I guess I am stupidly paying taxes for them to then lecture me about what a supposedly moral cretin I must be? Kind of a weird situation, ay?

But then again, let’s say that I’m wrong about that, and that these 2 Quakers get no income for that military ‘service’ at all? Where do they get their money from then? Stocks and bonds? Social Security? God? Plus, how can you draw a line between taxes for the military and taxes for other things, since Quakers do most often pay taxes for ‘other things’ and actually most just subtract some percent away (43%) from the taxes they in fact do pay to the government? Does that make it all Kosher then???

It really does not do anything at all from an individual angle, since the government just ‘garnishes’ the wages with interest added on directly from the salaries of religious protesters. However, non religious tax ‘protesters’ are often time not even given such benign treatment at all, since the government has codified well the idea that all ‘conscientious objection’ comes mainly about because ‘God forbids Believers to do something or other?’

No belief in God? Then you got no ‘Right’ to state morality coming from God as motivation, and no Right to really object, you damn atheists!

Does erecting this artificial accounting wall between supposedly taxes for good purposes and taxes for bad purposes help grind the War Machine down and then out? The AFSC (Quakers/ Friends) thinks it does, and is pushing to have 2 tax barrels put into Federal Law, where their religion’s membership can deposit funds into a ‘Peace’ Barrel, while the other religious folk can get the War Barrel! Is this really all that ‘peaceful non-violence’ comes down to in the concrete? Like it makes some dimes bit of difference to the government to separate ‘war taxes’ from a ‘Peace tax’?

Let’s say though, that you do not pay a cent to the government and some how keep them from garnishing your income with interest added in on top? That’s nice, and some few actually do just that and get away with it without being jailed. That is about as effective a route to fighting war as doing nothing though. To stop the war mass action is necessary, and not just becoming the one or two individuals here and there who sneak by the IRS.

So where does this Quaker couple now get their income from? Due to a successful career perhaps from stocks, and not a dime from military pensions or social security, they’re living off corporate dividends and previous savings not garnished by the government for ‘nonpayment’ of taxes? I can only speculate, however, I don’t think they have accomplished much at all, other than to make themselves smug in their religious complacency, as they drape themselves in flag and ‘peaceful’ Christian mantle for cops and other agents of the Roman Empire.

There are ways of resisting the War Machine but I do not think that trying to withhold tax monies is one of them? Neither did Jesus from what I gather from rather unreliable documentation, but he did try to evade the question of whether one should pay taxes with tricky ‘sayings.’ Ultimately that cleverness and not paying the tax are maybe the issues that got him the death penalty? I wasn’t there so I cannot really say.

Nonviolent vigils will be death of Gazans

Venezuela Statue of Liberty throws a shoe!GAZA PROTESTS PROLIFERATE! Demonstrators are occupying Israeli consulates, storming embassies, harassing pro-Israeli rallies, and spilling blood on Zionist memorials. Not that anything is working so far. Meanwhile, in non-stories for the press, the usual non-confrontational passivists are lighting candles in memory of the slain. Are they anticipating, in their non-violent wisdom, the eminent extinction of the Palestinians of Gaza? Pacifists seem more comfortable to commemorate the ideological sacrifice of martyrs sooner than advocate for the survival of the endangered.

Others are not content to mourn Zionism’s ultimate triumph. Here’s the best analysis yet I’ve encountered for antiwar strategists.

Oslo protests

In Caracas, the protests have the support of the state. Venezuelan president Chavez expelled the Israeli Ambassador and called his nation’s Jews to repudiate Israel’s inhumanity in Gaza:

“Now I hope that the Venezuelan Jewish community speaks out against this barbarism. Do it. Don’t you strongly reject all acts of persecution?”

Here is the Free Palestine Alliance statement released January 9, 2008:

The Massacre Intensifies:

As we prepare this thirteenth FPA statement, the Zionist army was continuing what it does best the wholesale slaughter of children and unarmed civilians. As would be expected of the current state of affairs of the US-controlled international scene, the massacre of the Palestinian people in the Gaza Strip is continuing despite yesterday’s feeble UN Security Council resolution that calls for Israel to immediately stop its attack. Actually, the US-Zionist leadership went the other way — more and more attacks. The Israeli Zionist army was given additional orders to escalate the conquest as it enters into a third phase of obliteration. Simultaneously as the Israeli cabinet was giving orders for a higher kill and destruction ratio, the US Senate was not going to be outdone by Zionists. It had to add to its long and shameful record. So it secretly issued a fast-tracked resolution fully supporting the ongoing massacre and giving Israel the needed cover. We ask, is this Senate resolution in the best interest of the people of the US?

But is it not the legacy and norm of the US-Israeli alliance to discard the will of the people of the US and the world. Is it not their norm to discard any and all UN resolutions that may remotely disagree with their strategic plans? The examples are far too many to list, including both UN General Assembly and Security Council resolutions dating as far back as 1947.

Yesterday’s UN resolution was approved by 14 of the 15 nations that currently sit on the Security Council, with the US abstaining. As would be expected, the resolution did not address the deadly siege that has been imposed on the Palestinian people in the Gaza Strip, nor did it condemn outright the fascistic actions of the Zionist polity.

Sadly, Palestinian victims have now reached at least 800 murdered and more than 3,300 injured. And these numbers are certain to climb substantially. Yesterday alone, fifty Palestinians were found murdered under their destroyed homes, some with their bodies already beginning to decompose. The Red Cross reported finding 4 near-death children slumped near and over their decomposing dead mothers. These children, like many others, were reported by the Red Cross to have been left without rescue in starvation and thirst for four full days around their killed mothers due to attacks on rescue workers.

On the very same day the UN Security Council resolution was issued, the United Nations Relief and Works Agency (UNRWA) that serves approximately 800,000 Palestinian refugees in the Gaza Strip decided that it was forced to fully halt its services. This decision came following the killing of one of UNRWA’s truck drivers, and due to the extreme conditions imposed by the Zionist army on relief workers. The UNRWA also strongly condemned the Israeli cover-up used to justify the bombardment of the Al-Fakhoura school that murdered and injured over 100 children and their parents.

Come Out in Force Tomorrow:

The people of the US have a moral obligation to turn out in massive numbers tomorrow, Saturday, from Washington, DC to San Francisco, Los Angeles and in between, to send a clear message that this campaign of murder must stop at once. In DC, we will be right there to send a message to the Bush administration, the incoming Barak administration, and to the entire US Congress. In San Francisco, where the United Nations took its first founding steps, we can highlight the charade of UN resolutions and international diplomacy, pointing to the double standards and outright racist behavior of the US and its allies. In Los Angeles and all other cities and towns, we can and must mobilize to join in protest in the largest possible numbers. This is the time to stand for what is moral and just. We cannot continue funding Israel while the people of the US are in dire need for funds right here to rescue homes and towns from collapse.

Rather than pay for the destruction of the Gaza Strip, let us pay for the construction of roadways, parks, and schools.

Rather than destroy thousands of Palestinian homes, let us fix the collapsing housing market and keep people in their own homes.

Rather than send more people homeless, let us protect folks from evictions and foreclosures.

Rather than kill doctors, nurses, and relief workers, let us build hospitals and provide health care to the millions without it.

This is our time to let Obama know that he could very easily stimulate both the economy and the morality of the US by stopping all funds used to kill babies and their mothers. Instead, we can invest these same funds in the education and upbringing of millions of impoverished children, right here in the US.

This is indeed our time, folks, and we must come out to lead the US Congress and administrations to the moral high ground. The interest of the US and its people is best served by supporting the construction of US infrastructure, housing, schools, hospitals, and by creating jobs at a living wage. Rather than kill Arab unionists, let us support strengthening unions and their demand for a respectable life and wages.

This is our time to show that Palestine is but a symbol for ALL just struggles. Struggles we all wage every day in various forms. The massacre against the Palestinian people should focus a very bright spotlight on what is wrong with US policies: US tax dollars are being sent to the Israeli army under US diplomatic cover, and are being used to boost corporations that manufacture military hardware, to conquer and destroy countries like Iraq and Afghanistan, rather than rescuing a failing nation from its impending economic depression.

Signs of Defeat:

We regard the UN Security Council Resolution as a fig leaf void of legitimacy. For one thing, it came 13 days following the massacre, and after more than 4,100 Palestinian casualties between killed and injured. It appears that key power-brokers at the UN had hoped that by waiting long enough (13 days) without action, the Zionists could in fact secure a political and military victory.

While the resolution attempts to provide a diplomatic cover for the Israelis and the US as a way out of their unattainable goals, it is nonetheless a clear indication that the ongoing conquest is unable to achieve any Zionist political gain. In fact, politically speaking, the US-Zionist-Arab regime tripartite axis is only achieving the very opposite of what they had intended through this massacre: (1) the Palestinians have achieved massive international, Arab, and Palestinian support; (2) the possibility for appointing a client regime in the Gaza Strip is non-existent; (3) the sustenance of the Abbas PA in its current formation has become very uncertain; and (4) the little legitimacy some Arab regimes have is that much more diminished.

To the extreme dismay of the US and Zionist leaders, the UN resolution demands an immediate stop to the attacks and the opening of all crossings; and it opens the gates for humanitarian aid. Hence, rejected by the Zionist leadership at once. Due to the weight of the pressure on US Arab allies, who could not under any circumstance return home empty-handed, the US had no choice but to abstain rather than give its usual veto — a way to give the US-supported despots a piece of paper to wave in the face of a sea of millions and millions in protest everywhere. Ironically, the gravity of the massacre made a full circle, compromising the stability of the alliance that is responsible for its implementation. The more violent the attack, the more stubborn the resistance, the more widespread the support, and the weaker the grip of despotic regimes.

Let us join the millions who have taken to the streets thus far, including today, in thousands of towns and cities in the world. There are those who are volunteering as doctors, nurses, and rescue workers, with many already killed and injured; there are those who are giving blood to hospitals and to the Red Cross and Red Crescent; those who are protesting; many are writing, painting, dancing and singing for freedom and liberation; and there are those who are holding sit-ins, and those who are giving flowers of appreciation to the Venezuelan government for their principled stance. All are out, and all are outraged.

Come and join!

Take your stand and come out tomorrow. Make it known that this massacre cannot continue!

All Out in Solidarity with the Palestinian People!

The Free Palestine Alliance

January 9, 2009

And this report from A.N.S.W.E.R. about Sunday’s march on DC:

From Washington, DC to San Francisco, Los Angeles, and Worldwide–Hundreds of Thousands March to Let Gaza Live!

On Sat., Jan. 10, hundreds of cities, and hundreds of thousands of people, responded to the call for an International Day of Emergency Action to support the people of Gaza. Outside the United States, marches took place in London, Edinburgh, Cairo, Athens, Kuala Lumpur, Beirut, Seoul, Mexico City, Jakarta, Montreal, Paris, Barcelona, Marseilles, Lyon, Oslo, Berlin, Bern, Karachi, Nablus, New Delhi, Amman, Sarajevo, Ramallah, Stockholm, and Tokyo. The protests continue to grow — today, another 250,000 took to the streets in Spain and more than 100,000 in Algeria.

In the U.S., the Day of Action was initiated on just one week’s notice by a call from the ANSWER Coalition, Muslim American Society Freedom, Free Palestine Alliance, National Council of Arab Americans, and Al-Awda – International Palestine Right to Return Coalition. In Washington DC, over 20,000 took to the streets in the freezing rain to demand, “Let Gaza Live!” The streets were so backed up that thousands of people in buses and cars were still arriving after the march had left Lafayette Park.

The demonstration began with a rally at the White House. Featured speakers included former Congresswoman Cynthia McKinney, who was just on a humanitarian relief mission attempting to bring supplies to Gaza when the boat she was on was intentionally struck by an Israeli military vessel; Mahdi Bray, Executive Director, Muslim American Society Freedom; Rev. Graylan Hagler, National President of Ministers for Racial, Social and Economic Justice; Mounzer Sleiman, Vice Chairman, National Council of Arab Americans; Ralph Nader; Paul Zulkowitz, Jews Against the Occupation; Brian Becker, National Coordinator, ANSWER Coalition; Mara Verheyden-Hilliard, attorney and co-founder, Partnership for Civil Justice; and others.

The spirited march then led to the Washington Post, where demonstrators denounced the paper for its biased pro-Israeli coverage of the massacre and its complete blackout of protest activities in the United States.

In San Francisco, 10,000 took part in the march and rally. The rally included a huge outpouring from the local Arab community, and energetic participation from Bay Area youth.

A crowd of 2000 demonstrators confronted a heavy police presence in downtown Orlando for the “Let Gaza Live: Florida Statewide March for Palestine” called by Act Now to Stop War and End Racism Coalition/Florida—just six days prior. The demonstration is the largest anti-war demonstration in Florida in more than a decade and certainly the largest ever protest in Florida calling for a free Palestine. Police tried to intimidate marchers by initially searching all bags, forcing protesters to remove sticks from signs, and denying the use of amplified sound. Organizers and protesters challenged and pushed back their unwarranted scare tactics, and the protest turned out to be a powerful success.

In Los Angeles, 10,000 people participated in a regional mass march and rally to “Let Gaza Live” at the Westwood Federal Building. Hundreds of Palestinian flags and signs reading “Stop bombing Gaza!” and “The real terrorists: U.S./Israel war machine!” lined all sides of the street and the lawn in front of the federal government headquarters. It was the largest protest and the first major march in Southern California since the Israeli bombing campaign and invasion began.

A funeral procession led the march with makeshift coffins draped with Palestinian flags, representing the hundreds of people killed by Israel’s genocidal attack on Gaza. Hundreds of children followed, along with a huge, hand-made Palestinian flag, in a contingent organized by the Palestinian American Women’s Association.

The worldwide movement is continuing to grow with more protests today, Jan. 11. There will be countless other actions in the days to come. Today in New York City, the police carried out a violent assault against those marching in mid-town Manhattan in support of the people of Palestine. A number of people were injured and arrested.

With the support of the United States, the Israeli military machine has expanded its invasion into urban areas of Gaza. The death toll among Palestinians is now nearly 900, with many thousands wounded. The injured and hungry of Gaza have no relief. We must do everything in our power to deepen and broaden this movement in the coming days.

See Ann Wright in action or at the PPJPC

DNC arrest-bushCOLORADO SPRINGS- The PPJPC is collecting money to bring noted antiwar activist Ann Wright to Colorado Springs. They’re hoping to have her speak for a fundraiser. I’ve had a chance to meet the retired colonel/diplomat in person a number of times. You can too, with no fund-raising necessary. Go to an action.

The first time I met Wright was in Crawford Texas when a delegation from Colorado Springs joined Cindy Sheehan’s encampment outside George Bush’s ranch. Ann Wright and Medea Benjamin were the primary organizers behind Sheehan’s “Camp Casey” PR coup. When our group convened our own Camp Casey at Nevada Avenue and Dale Street, Wright was our liaison to the continued national effort.

Most recently we ran into Wright at the DNC in August. Ann Wright brought the white faceless masks to the Denver demonstrations. She spoke at the rallies and participated in several marches. Even now, whether the issue is closing Guantanamo or saying no to the Fed, you’ll see Wright’s squad with their masks, representing the faceless victims of America’s destructive imperialism.

While I look forward to Ann Wright’s upcoming visit, I think it is unfortunate that local energy for activism be dissipated with an in-house lecture. What would Wright rather see us doing? Hopefully she can illuminate the hole into which the PPJPC is burying its head. Perhaps a study of her successes can show that a nonviolent ethos need not limit one’s actions to the avoidance of confrontation.

The junked out American economy

GM cars
America is a junked out economy that only produces war and the crappiest delivery of health care at the costliest expense to all. It’s running on fumes just like General Motors. Running on fumes: GM could soon run out of cash.

Yes, GM cars may well go the route of the Yugo, as may well go your job? How reassuring it is to know that both the Republicans and Democrats will be united in enlisting their bipartisan services to sink the Federal Government and Federal Treasury, all in order to save the company that produces America’s Yugos. Putt, putt, putter, putt…. Maybe we’ll have to bicycle more?

Amy Goodman looks at Barack Obama

Amy GoodmanAmy Goodman gives Barack Obama a fair lookover during a discussion with investigative journalist John Pilger in Britain, Columbia University professor and Africa scholar Mahmood Mamdani, Laura Carlsen of the Center for International Policy in Mexico City, Iraqi analyst Raed Jarrar, Pakistani author Tariq Ali, and Palestinian American Ali Abunimah of Electronic Intifada.
President-Elect Obama and the Future of US Foreign Policy: A Roundtable Discussion The focus is on foreign policy and the conclusions are rather gloomy about what 4 years with Barack as the Great Helmsman in the White House will actually soon begin to look like.

What a breath of fresh air Amy Goodman gives America with this program. It is nice to see intelligent discussion of reality as opposed to adulatory and adolescent fantasies about the new president that border on worship services at a Pentecostal Church. It is clear that all of these people who participated in this round table discussion on Goodman’s program understand that Barack Obama is not alone at sail on The Seven Seas, but is clearly part of a leadership teem astride an American aircraft carrier armed to the teeth. None of them seem to be very positive about what the future will bring from this sad perspective.

Since the focus of this discussion with Amy is Obama’s future foreign policy, there is little mention of what his future domestic policies will probably be like. It would be great if she continues the dialog with yet another round table discussion that examines just that question! I rather think that the conclusions from an informed group of Leftists about the future Democratic Party’s agenda under Obama will be just as dreary if she does look at his plans on the domestic front as well. After all, we have already seen just what it will appear like with the bipartisan giveaway to the companies from the Federal Treasury that the Democrats and Republicans worked out together that is currently continuing to contribute to sinking the world economy, not to mention just ‘our’ own.

Without Amy Goodman’s Democracy Now, alternet, counterpunch, and antiwar.comm, we would only be left with a group of totally abject Democratic Party cheerleaders now. Each and everyone of these websites is worthy of any financial donation that you can make? We rely on all of them for informative reporting. Let’s hope that they keep up the good work and hope that other important sources of discussion and reporting can be developed, too.

US government pimps US child prostitutes to justify its own worldwide terrorism against children

bush pimp‘More than 600 adults have been arrested in raids across the US targeting people who force children into prostitution. Operations took place in 29 cities in a co-ordinated action involving federal, state and local law officers, according to the FBI.’ thus reads the Reuters reportage of yesterdays US government’s mass raids US smashes child prostitute rings coming just one day after the government violated all international law and entered into a Syrian village and murdered 4 children there.

The two events, though seemingly unrelated to each other, in fact are thoroughly related. So let’s take a look at the US government ‘child prostitution raid’ and examine some how the US government pimped our own American children here at home in the country to help justify its own terrorism both at home and abroad. Shall we?

Notice that ‘operation took place in 29 cities in a co-ordinated action’. Does that seem like a normal legal action to take here? If it does, then you need to think a bit more about it some. Just what type of government or policing body sits back and does not stop child prostitution involving even a single child going on for any more time than a second?

That’s right. The US government and its police sat back and did nothing for weeks and months at a time (if you believe their own storyline???), just so they could ‘co-ordinate’ in 29 different cities! In other words (their own words), they sat back and allowed multiple American children to be prostituted while doing absolutely nothing at all to save the children from these crimes, all so as to better do their own government co-ordinated showcase raids using multiple terroristic Swat Teams! You bet! What princes of morality we have here!

Imagine? You see a child being prostituted in your own neighborhood, call the police, and they say to you…

‘Don’t worry, we are working on taking action, but first we have to co-ordinate with 28 other cities before we help this one underage girl out.’

Your reaction here? Shock? Is this responsible policing? I think not.

Imagine the absolute corruption in our US municipal police forces to have just sat back in 29 cities allowing these children to continue to be prostituted, just so that they could all ‘coordinate’ these US government Swat Team raids to occur one and all at the same time! Imagine it?

‘Sorry, Mam. We know that you saw, and we believe you, too, that a neighborhood hoodlum is prostituting this 14 year old girl next door in your building. But we have to wait for the cameras to show up in 29 cities at one time before we can take action and help her out. Plus, The Feds haven’t done their Syrian raid either, and we need to wait for that to happen, so that we can show Americans how much we care about getting these bad guys out of action.’

Can you imagine? This is the morality of the Republican and Democratic Party creeps running our country today. The Syrian government said Sunday’s attack by four U.S. military helicopters targeted a civilian building under construction in Sukkariyeh shortly before sundown, and killed eight people, including four children. Our country is run by a bipartisan group of gangsters.

Remember how they said they would bring “American Democracy to Iraq and Afghanistan”?

Well, apparently they have, because they DID tell the Afghans and Iraqis who could vote, and for whom…

JUST LIKE IN OHIO, USA

the source

President Bush yesterday forwarded a request to the Department of Justice to investigate mismatched voter registration records in Ohio, as urged by U.S. Rep. John Boehner (R., West Chester, Ohio), House minority leader.

A White House spokesman said the President would pass along to Attorney General Michael Mukasey the letter from Mr. Boehner asking the Justice Department to look into whether the state’s voter rolls comply with the federal Help America Vote Act.

Ohio Democrats labeled the proposed investigation an act of partisanship.

In his letter, Mr. Boehner noted that starting today, county elections officials will begin removing ballots cast during the state’s early voting period from their identifying envelopes, eliminating any possibility of catching fraudulently cast ballots.

Secretary of State Jennifer Brunner, a Democrat, has disclosed that 200,000 of the approximately 700,000 new registrations this year don’t match up exactly with information in state records because of misspellings, incorrect addresses, or other inconsistencies in their records.

Ohio Republicans have asked her to identify the 200,000 voters by county and precinct so they can be made to vote by provisional ballot until their validity can be confirmed.

“Unless action is taken by the Department immediately, thousands, if not tens or hundreds of thousands, of names whose information has not been verified … will remain on voter rolls during the November 4, 2008 election; and there is a significant risk – if not a certainty – that unlawful votes will be cast and counted,” Mr. Boehner’s letter said.

100 days until end of Bush Error

Imagine that. The Conservatives refused to provide health care for all, claiming the $50B price tag would bankrupt America. Yet, in the last month or so, the Treasury and the Fed have forked over more than $5T — over 100 times as much — to cover the gambling losses of the filthy-rich. It is clearly way past time for a Second American Revolution!
 
The entire planet has been scammed by the filthy rich. There is nothing on earth that can stop this slow motion economic trainwreck. The derivatives meltdown will cost more than 10 times the entire world’s output. On the up-side, I hear the filthy-rich taste just like chicken!

Paul Krugman wins Nobel Prize in Economic Sciences. This is the guy Obama should make Secretary of the Treasury.

16 newspapers endorsed Obama on Sunday, only 2 for McCain.

Stephanopoulos: No candidate has ever lost with Obama’s lead over McCain. (53-43)

Top GOP strategist Ed Rollins compares McCain’s spectacular campaign failure to Hillary’s.

McCain expected to “hit the panic button” today, since it now looks like he will have a hard time even carrying many of the “red states.”

GOP is just a pseudonym for LIE. “Curveball,” they guy the administration blames all their false Iraq intel on, says he never told them Saddam had WMDs, they made all that crap up themselves. In fact, he never even spoke to the CIA!

The red flag should have been his “faith and family values” campaign. Congressman Tim Mahoney (D-FL) paid his mistress $121,000 to keep her mouth shut about the affair.

There are cannibals in the land. Even ArchNeocon Bill Kristol admits McCain campaign is a joke, and then rabid McCain campaign turns on him. Didn’t someone once say something about “a house divided cannot stand?”

trick-or-treat

Excerpts from Thomas McCullock’s Oct 13 notes, thomasmc.com.

These meds are dangerous to your child’s health; So why haven’t they been removed from pharmacy shelves?

TylenolIt’s a multiple billion dollar industry with dangerous ingredients in them, but they haven’t been removed from America’s pharmacies shelves at all. Actually these meds are there now everywhere, including convenience stores, grocery stores, and dollar stores. There are constant ads for them on television counselling parents to buy them for their babies and kids to ingest. Find them on coupons, in magazines, anywhere you might look.

Parents misuse these ‘medicines’ thinking that they are safe to get their small kids asleep. It is a kind of toxic baby sitter for many less aware mothers and dads. I am talking about ‘Children’s Tylenol’ and like formulations. How many parents angrily must have these products prescribed, given, and even forced on their children, all the while thinking that it is malpractice if they are not?

It is a step in the right direction to now have a ‘warning’ given about their dangers given out by at least one organization, but where is the Federal government here? They have sat quiet for decades upon decades as the evidence of how dangerous acetaminophen, pseudophed, and anti-histamines can be for kids. The worst danger of them all is acetaminophen (Tylenol) the supposedly safer ‘alternative’, or so spouts the advertising by Tylenol (McNEIL-PPC, Inc).

Drug companies: No cold meds for kids under 4
New voluntary warning labels caution against use by young children

They might finally get pulled off a few shelves thanks to some American pediatricians finally doing the right thing. Unfortunately, without a bigger campaign against their use, parents may actually use the same meds in adult form (or otherwise) on their kids? These medications need to be lobbied against and not lobbied for.

Don’t do it! Don’t do it even in smaller, more dilute doses! Don’t give these unnecessary and at times directly harmful medications to your small children. And just get rid of these meds altogether if there is any chance that somebody might try to commit suicide in your household. Tylenol can mess you over (yes! adults and teenagers alike, let alone children) quick if even a few too many are actually swallowed.

The Bail Us Over into Deep Doo Doo Bill has just been passed

In a no surprise vote, the House has just bailed the American people into a deep hole. The ‘new’ legislation of give away was even worse than the first one attempted, with even extra pork added on. In short summary, good money has been thrown with bad, straight into the hands of those needing the money the least. House backs $700bn bail-out plan

Stocks briefly will fly up again, oh so Whoopee! What is left ‘unbailed out’ is the private debt held by tens of millions of Americans who are now losing their homes and jobs. Instead of assistance, they will now be helping bailout the big guys as the Federal Debt shoots up alongside their own. What a prescription for total disaster! Bushels of bale for the rich kleptocrats and the rug being pulled out under from the needy.

Credit crunch is a symptom of US economic malaise, not the cause of it

Texas A and MTaxpayers gifting the rich with $7,000,000,000 will not stop the coming capitalist depression at all, because it simply does not address the root causes of anything. We have been told that this crisis is merely the fault of toxic debts piling up from an American ‘housing bubble’, which happened due the crookedness of a few bad apples. Yes, its true, they add a few more details to this sob story but that is essentially all there is to the story line, with none of the American corporate ‘leadership’ class taking any personal or political responsibility at all. That is not too surprising about these moralizing immoralists at all. It is par for their course.

But the root cause of the capitalist downturn is about much more than a credit crunch cause or a real estate mortgages beginning the collapse. It is actually about the deficit military spending that corporate America has led us into with their stupid and asinine wars against shadows of their own making. Despite the destruction caused on that fateful day termed ‘9/11’, it could have been nothing more than a temporary and unfortunate side show for our country, but instead it was seized on by the military, policing, and corporate communities to justify skyrocketing their budgets, incomes, and profits. They went on a borrowing spree using foreign credit!

They did not buy anything of real value or substance though, and they progressively bankrupted the bulk of Americans by doing their borrowing, all the time while waving Old Glory and talking of American pride and national security, which they were busy undermining. ‘USA, USA, USA’ became the cry of the dunces they had marching behind them. They tortured not only Pentagon held POWs, but the American soul itself. The big guys total control over political life is what got us down into the pit.

Now, the only economic ‘security’ left for Americans is in the seeming ability to drag others down economically with us. Since we were such fat consumers here in the land of milk and honey, many depended on supplying us. However that market is about to collapse. Add to that that the whole world is left holding much of the valueless paper that our ruling class force fed to them at guns length. And, of course, we still have the biggest arsenal around. That almost makes our Federal Government just like any insane neighbor with an insanely huge gun collection, but barely living while dependent on food stamps to eat some fast food Chinese once and a while. Sarah and Dick to go hunting with perhaps?

Look around? The American auto industry just asked and got close to $30 billion in ‘bailout’ loot, too. It’s about to sink. And the biggest economic sink of them all is about to sink in the days ahead, also. Quite simply, our military is not sustainable. That is the cause of our economic malaise, not the housing market getting squeezed. All industry and finance got dragged down together in mass, and not just car sales and real estate.

The idiots of our country continue to want to wave the flag. They continue wanting to pump borrowed money into fighting unnecessary foreign wars like it is all some sort of crazed football game being played on the pro level! They like that corporate logo of Old Glory just as they do not mind all the corporate advertising hanging all over the place at the stadiums they hang out at weekends. They like the political and corporate cheerleaders, same as they like the young coed types with bonbons. at their games. This is their None Entiendo game done ever so Grande. Beep, beep, beep beep… Fireworks display!

The root cause of the economic downturn is deficit spending and deficit thinking by our neighbors, especially so in our White Conservative Christian neighborhoods, church on every other block. To sum it up, throwing $700,000,000,000 of tax money at the failed businesses solves nothing. It’s like throwing more weight on that old football bonfire.

Remember that collapse of the Texas A&M bonfire pileup several years ago? That’s the type of thinking America has on board at present. The economic bonfire stack is merely being set for collapse with this stupid bailout that they will eventually put through, because our nation is too dumb to have stopped it when we could. That picture of the Aggie bonfire before it collapsed is just like the Federal deficit debt pileup that is due to come crashing down on all of us. They constructed it out of vainglory.

Who not to blame for failed bailout

wall-street-bailout protest
COLORADO SPRINGS- We held posters that read SEIZE THE FED, JAIL NOT BAIL-OUT, FORECLOSE ON WALLSTREET, NO REWARD FOR HIGH RISK, and of course NO BUSH BAILOUT. When we got rebuttals, it went like this: “Why do you bring Bush into this? Bush doesn’t have anything to do with the bailout.” We needed to complain to Barack, apparently.

Bush supporters come in either the biggest pickup trucks or the rustiest. There’s probably no socio-economic divide between the voters who wanted Bush for a drinking buddy.

A Vectra Bank representative came outside to ask us if we could move from under their sign, so as not to give the false impression we were protesting their bank, particularly at a time when depositors might easily be spooked into a run on the bank. We moved nearer the Wachovia Bank, perhaps a better juxtaposition anyway.

We were prepared for the inevitable, can you suggest something better? From Karl Denninger at Market Ticker, who credits Janet Tavakoli:

1–Force all off-balance sheet “assets” back onto the balance sheet, and force the valuation models and identification of individual assets out of Level 3 and into 10Qs and 10Ks. Do it now. : (In other words, no more Enron-type accounting mumbo-jumbo and no more allowing the banks assign their own “values” to dodgy assets)

2–Force all OTC derivatives onto a regulated exchange similar to that used by listed options in the equity markets. This permanently defuses the derivatives time bomb. Give market participants 90 days; any that are not listed in 90 days are declared void; let the participants sue each other if they can’t prove capital adequacy. (If trading derivatives contracts can damage the “regulated” system, than that trading must take place under strict government regulations)

3–Force leverage by all institutions to no more than 12:1. The SEC intentionally dropped broker/dealer leverage limits in 2004; prior to that date 12:1 was the limit. Every firm that has failed had double or more the leverage of that former 12:1 limit. Enact this with a six month time limit and require 1/6th of the excess taken down monthly. (Ed: The collapse in the “structured finance” model is mainly due to too much leverage. For example, Fannie Mae and Freddie Mac had $80 of debt for every $1 dollar of capital reserves when they were taken into government conservatorship.)

Not Sons of Bitches, Dems are bitches

When the Democrats were the minority they seemed so weak. Now in the Majority they’re positively wimps. Pundits tell us it’s a lack of leadership. Why would the corporate media overlook who’s at the whip? It would seem clear that the corporations writing the legislation, funding the campaigns, and paying for the free lunch, are driving the agenda. The GOP is paid to play the white hats, and when a bill is unpopular, the Dems are pushed forward to play the creeps.

On the proposed bailout ripoff, the Dems were not the sons of bitches, they’re just the bitches. I heard a Dem scare-mongeree explain that in spite of loathing the idea of a solution which benefited the wrong people, the bailout was our only option. “All economists agree we have to do this” he said, ignoring quite a few who have urged the opposite. The interviewer interrupted to announce, this just in, the vote had failed and as a result the DOW had plunged by 700 points. She wanted his response: “Oh. My. God.”

As Bush and his GOP team stand in the shadows, the Democrats are thrust forward to “lead” the support for this criminal legislation. Whether the bill won or lost, either way the Democrats would come out looking like shits.

I’m reminded about how an invading army flushes out defenders still hiding. Send your captives into the buildings to spring the booby-traps. Make them open the doors to draw the fire. Among thugs in prison the dirty work is done by the bitches.

Except for Democracy Now, the media won’t report the authentic Democratic efforts to lead. Here’s Dennis Kucinich on the floor of Congress speaking against the bailout and asking: why, why why:

“The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.

Why aren’t we having hearings on the plan we have just received? Why aren’t we questioning the underlying premise of the need for a bailout with taxpayers’ money?

Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren’t we asking Wall Street to clean up its own mess?

Why aren’t we passing new laws to stop the speculation, which triggered this? Why aren’t we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

“Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street?

Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks?

Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls.”

Michael Moore is more charitable about the Democrats’ actions yesterday. Here’s his update:

Friends,

Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan’s finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.

But what they didn’t know was that hundreds of thousands of Americans woke up yesterday morning and decided it was time for revolt. The politicians never saw it coming. Millions of phone calls and emails hit Congress so hard it was as if Marshall Dillon, Elliot Ness and Dog the Bounty Hunter had descended on D.C. to stop the looting and arrest the thieves.

The Corporate Crime of the Century was halted by a vote of 228 to 205. It was rare and historic; no one could remember a time when a bill supported by the president and the leadership of both parties went down in defeat. That just never happens.

A lot of people are wondering why the right wing of the Republican Party joined with the left wing of the Democratic Party in voting down the thievery. Forty percent of Democrats and two-thirds of Republicans voted against the bill.

Here’s what happened:

The presidential race may still be close in the polls, but the Congressional races are pointing toward a landslide for the Democrats. Few dispute the prediction that the Republicans are in for a whoopin’ on November 4th. Up to 30 Republican House seats could be lost in what would be a stunning repudiation of their agenda.

The Republican reps are so scared of losing their seats, when this “financial crisis” reared its head two weeks ago, they realized they had just been handed their one and only chance to separate themselves from Bush before the election, while doing something that would make them look like they were on the side of “the people.”

Watching C-Span yesterday morning was one of the best comedy shows I’d seen in ages. There they were, one Republican after another who had backed the war and sunk the country into record debt, who had voted to kill every regulation that would have kept Wall Street in check — there they were, now crying foul and standing up for the little guy! One after another, they stood at the microphone on the House floor and threw Bush under the bus, under the train (even though they had voted to kill off our nation’s trains, too), heck, they would’ve thrown him under the rising waters of the Lower Ninth Ward if they could’ve conjured up another hurricane. You know how your dog acts when sprayed by a skunk? He howls and runs around trying to shake it off, rubbing and rolling himself on every piece of your carpet, trying to get rid of the stench. That’s what it looked like on the Republican side of the aisle yesterday, and it was a sight to behold.

The 95 brave Dems who broke with Barney Frank and Chris Dodd were the real heroes, just like those few who stood up and voted against the war in October of 2002. Watch the remarks from yesterday of Reps. Marcy Kaptur, Sheila Jackson Lee, and Dennis Kucinich. They spoke the truth.

The Dems who voted for the giveaway did so mostly because they were scared by the threats of Wall Street, that if the rich didn’t get their handout, the market would go nuts and then it’s bye-bye stock-based pension and retirement funds.

And guess what? That’s exactly what Wall Street did! The largest, single-day drop in the Dow in the history of the New York Stock exchange. The news anchors last night screamed it out: Americans just lost 1.2 trillion dollars in the stock market!! It’s a financial Pearl Harbor! The sky is falling! Bird flu! Killer Bees!

Of course, sane people know that nobody “lost” anything yesterday, that stocks go up and down and this too shall pass because the rich will now buy low, hold, then sell off, then buy low again.

But for now, Wall Street and its propaganda arm (the networks and media it owns) will continue to try and scare the bejesus out of you. It will be harder to get a loan. Some people will lose their jobs. A weak nation of wimps won’t last long under this torture. Or will we? Is this our line in the sand?

Here’s my guess: The Democratic leadership in the House secretly hoped all along that this lousy bill would go down. With Bush’s proposals shredded, the Dems knew they could then write their own bill that favors the average American, not the upper 10% who were hoping for another kegger of gold.

So the ball is in the Democrats’ hands. The gun from Wall Street remains at their head. Before they make their next move, let me tell you what the media kept silent about while this bill was being debated:

1. The bailout bill had NO enforcement provisions for the so-called oversight group that was going to monitor Wall Street’s spending of the $700 billion;

2. It had NO penalties, fines or imprisonment for any executive who might steal any of the people’s money;

3. It did NOTHING to force banks and lenders to rewrite people’s mortgages to avoid foreclosures — this bill would not have stopped ONE foreclosure!;

4. It had NO teeth anywhere in the entire piece of legislation, using words like “suggested” when referring to the government being paid back for the bailout;

5. Over 200 economists wrote to Congress and said this bill might actually WORSEN the “financial crisis” and cause even MORE of a meltdown.

Put a fork in this slab of pork. It’s over. Now it is time for our side to state very clearly the laws WE want passed. I will send you my proposals later today. We’ve bought ourselves less than 72 hours.

Yours,
Michael Moore

No blank-check bailout for Wall Street

COLORADO SPRINGS, CO – Organizations in Southern Colorado will participate in a National Day of Action in opposition to the no-strings attached, $700 billion corporate bailout plan advanced by President Bush and Treasury Secretary Paulson. A press conference will take place 2PM on Thursday, Sept. 25 in front of the Department of Human Services Sand Creek Office at 1635 South Murray Blvd., Colorado Springs.

From the LOCAL PRESS RELEASE:

“We believe the bailout is wrong headed – it’s low-wage working families struggling to make ends meet, who will most suffer the consequences of this kind of bad economic policy,” said Dennis Apuan, community leader and Democratic candidate for Statehouse, District 17. “We must press on our elected officials to ensure that families do not have to make impossible choices between feeding their children, heating their homes and filling their prescriptions. We need leaders who know how to respond to the growing need in our communities – lost jobs, threatened homes, and surging food and energy prices,” Apuan added.

The National Day of Action will feature more than 75 press conferences, demonstrations and other public events throughout the United States. Some of the events are being held by local and national organizations; others will be citizen-organized, involving taxpayers angered by the proposed corporate bailout, as introduced in Congress. The local event will include a voter registration drive and sign-up opportunities to volunteer in community civic engagement.

“With so many of the citizens and residents of House District 17 suffering from the downturn in the economy, it is important that they have a voice in these ill-advised corporate bailouts,” said Rosemary Harris, President of the Colorado Springs Branch NAACP. “This is a diverse community, with people from all racial, social and economic backgrounds. Our lives matter. Our voices matter. And our vote is our true voice. Registering voters who will determine the future policies and future leaders of this House District, this state, and this country is perhaps the best way to respond to the actions of those in Washington,” Harris added.

Among the leaders of the national organizing effort are TrueMajority.org, US Action Education Fund, ACORN, Campaign For America’s Future, Coalition on Human Needs, Military Spouses For Change, National Priorities Project and many others.

From the INDYPENDENT’s Arun Gupta, the ORIGINAL EMAIL CALL-OUT:

NO BAILOUT FOR WALL STREET
Protest on Wall Street this Thursday at 4pm!

Call to Self-Organize

This week the White House is going to try to push through the biggest robbery in world history with nary a stitch of debate to bail out the Wall Street bastards who created this economic apocalypse in the first place.

This is the financial equivalent of September 11. They think, just like with the Patriot Act, they can use the shock to force through the “therapy,” and we’ll just roll over!

Think about it: They said providing healthcare for 9 million children, perhaps costing $6 billion a year, was too expensive, but there’s evidently no sum of money large enough that will sate the Wall Street pigs. If this passes, forget about any money for environmental protection, to counter global warming, for education, for national healthcare, to rebuild our decaying infrastructure, for alternative energy.

This is a historic moment. We need to act now while we can influence the debate. Let’s demonstrate this Thursday at 4pm in Wall Street (see below).

We know the congressional Democrats will peep meekly before caving in like they have on everything else, from FISA to the Iraq War.

With Bear Stearns, Fannie and Freddie, AIG, the money markets and now this omnibus bailout, well in excess of $1 trillion will be distributed from the poor, workers and middle class to the scum floating on top.

This whole mess gives lie to the free market. The Feds are propping up stock prices, directing buyouts, subsidizing crooks and swindlers who already made a killing off the mortgage bubble.

Worst of all, even before any details have been hashed out, The New York Times admits that “Wall Street began looking for ways to profit from it,” and its chief financial correspondent writes that the Bush administration wants “Congress to give them a blank check to do whatever they want, whatever the cost, with no one able to watch them closely.”

It’s socialism for the rich and dog-eat-dog capitalism for the rest of us.

Let’s take it to the heart of the financial district! Gather at 4pm, this Thursday, Sept. 25 in the plaza at the southern end of Bowling Green Park, which is the small triangular park that has the Wall Street bull at the northern tip.

By having it later in the day we can show these thieves, as they leave work, we’re not their suckers. Plus, anyone who can’t get off work can still join us downtown as soon as they are able.

There is no agenda, no leaders, no organizing group, nothing to endorse other than we’re not going to pay! Let the bondholders pay, let the banks pay, let those who brought the “toxic” mortgage-backed securities pay!

On this list are many key organizers and activists. We have a huge amount of connections – we all know many other organizations, activists and community groups. We know P.R. folk who can quickly write up and distribute press releases, those who can contact legal observers, media activists who can spread the word, the videographers who can film the event, etc.

Do whatever you can – make and distribute your own flyers, contact all your groups and friends. This crime is without precedence and we can’t be silent! What’s the point of waiting for someone else to organize a protest two months from now, long after the crime has been perpetrated?

We have everything we need to create a large, peaceful, loud demonstration. Millions of others must feel the same way; they just don’t know what to do. Let’s take the lead and make this the start!

AGAIN:
When: 4pm – ? Thursday, September 25.
Where: Southern end of Bowling Green Park, in the plaza area
What to bring: Banners, noisemakers, signs, leaflets, etc.
Why: To say we won’t pay for the Wall Street bailout
Who: Everyone!

PETITION LETTER from 200 ECONOMISTS:

To the Speaker of the House of Representatives and the President pro tempore of the Senate:

As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America’s dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

Signed (updated at 9/25/2008 8:30AM CT)

Acemoglu Daron (Massachussets Institute of Technology)
Adler Michael (Columbia University)
Admati Anat R. (Stanford University)
Alexis Marcus (Northwestern University)
Alvarez Fernando (University of Chicago)
Andersen Torben (Northwestern University)
Baliga Sandeep (Northwestern University)
Banerjee Abhijit V. (Massachussets Institute of Technology)
Barankay Iwan (University of Pennsylvania)
Barry Brian (University of Chicago)
Bartkus James R. (Xavier University of Louisiana)
Becker Charles M. (Duke University)
Becker Robert A. (Indiana University)
Beim David (Columbia University)
Berk Jonathan (Stanford University)
Bisin Alberto (New York University)
Bittlingmayer George (University of Kansas)
Boldrin Michele (Washington University)
Brooks Taggert J. (University of Wisconsin)
Brynjolfsson Erik (Massachusetts Institute of Technology)
Buera Francisco J. (UCLA)
Camp Mary Elizabeth (Indiana University)
Carmel Jonathan (University of Michigan)
Carroll Christopher (Johns Hopkins University)
Cassar Gavin (University of Pennsylvania)
Chaney Thomas (University of Chicago)
Chari Varadarajan V. (University of Minnesota)
Chauvin Keith W. (University of Kansas)
Chintagunta Pradeep K. (University of Chicago)
Christiano Lawrence J. (Northwestern University)
Cochrane John (University of Chicago)
Coleman John (Duke University)
Constantinides George M. (University of Chicago)
Crain Robert (UC Berkeley)
Culp Christopher (University of Chicago)
Da Zhi (University of Notre Dame)
Davis Morris (University of Wisconsin)
De Marzo Peter (Stanford University)
Dubé Jean-Pierre H. (University of Chicago)
Edlin Aaron (UC Berkeley)
Eichenbaum Martin (Northwestern University)
Ely Jeffrey (Northwestern University)
Eraslan Hülya K. K.(Johns Hopkins University)
Faulhaber Gerald (University of Pennsylvania)
Feldmann Sven (University of Melbourne)
Fernandez-Villaverde Jesus (University of Pennsylvania)
Fohlin Caroline (Johns Hopkins University)
Fox Jeremy T. (University of Chicago)
Frank Murray Z.(University of Minnesota)
Frenzen Jonathan (University of Chicago)
Fuchs William (University of Chicago)
Fudenberg Drew (Harvard University)
Gabaix Xavier (New York University)
Gao Paul (Notre Dame University)
Garicano Luis (University of Chicago)
Gerakos Joseph J. (University of Chicago)
Gibbs Michael (University of Chicago)
Glomm Gerhard (Indiana University)
Goettler Ron (University of Chicago)
Goldin Claudia (Harvard University)
Gordon Robert J. (Northwestern University)
Greenstone Michael (Massachusetts Institute of Technology)
Guadalupe Maria (Columbia University)
Guerrieri Veronica (University of Chicago)
Hagerty Kathleen (Northwestern University)
Hamada Robert S. (University of Chicago)
Hansen Lars (University of Chicago)
Harris Milton (University of Chicago)
Hart Oliver (Harvard University)
Hazlett Thomas W. (George Mason University)
Heaton John (University of Chicago)
Heckman James (University of Chicago – Nobel Laureate)
Henderson David R. (Hoover Institution)
Henisz, Witold (University of Pennsylvania)
Hertzberg Andrew (Columbia University)
Hite Gailen (Columbia University)
Hitsch Günter J. (University of Chicago)
Hodrick Robert J. (Columbia University)
Hopenhayn Hugo (UCLA)
Hurst Erik (University of Chicago)
Imrohoroglu Ayse (University of Southern California)
Isakson Hans (University of Northern Iowa)
Israel Ronen (London Business School)
Jaffee Dwight M. (UC Berkeley)
Jagannathan Ravi (Northwestern University)
Jenter Dirk (Stanford University)
Jones Charles M. (Columbia Business School)
Kaboski Joseph P. (Ohio State University)
Kahn Matthew (UCLA)
Kaplan Ethan (Stockholm University)
Karolyi, Andrew (Ohio State University)
Kashyap Anil (University of Chicago)
Keim Donald B (University of Pennsylvania)
Ketkar Suhas L (Vanderbilt University)
Kiesling Lynne (Northwestern University)
Klenow Pete (Stanford University)
Koch Paul (University of Kansas)
Kocherlakota Narayana (University of Minnesota)
Koijen Ralph S.J. (University of Chicago)
Kondo Jiro (Northwestern University)
Korteweg Arthur (Stanford University)
Kortum Samuel (University of Chicago)
Krueger Dirk (University of Pennsylvania)
Ledesma Patricia (Northwestern University)
Lee Lung-fei (Ohio State University)
Leeper Eric M. (Indiana University)
Leuz Christian (University of Chicago)
Levine David I.(UC Berkeley)
Levine David K.(Washington University)
Levy David M. (George Mason University)
Linnainmaa Juhani (University of Chicago)
Lott John R. Jr. (University of Maryland)
Lucas Robert (University of Chicago – Nobel Laureate)
Luttmer Erzo G.J. (University of Minnesota)
Manski Charles F. (Northwestern University)
Martin Ian (Stanford University)
Mayer Christopher (Columbia University)
Mazzeo Michael (Northwestern University)
McDonald Robert (Northwestern University)
Meadow Scott F. (University of Chicago)
Mehra Rajnish (UC Santa Barbara)
Mian Atif (University of Chicago)
Middlebrook Art (University of Chicago)
Miguel Edward (UC Berkeley)
Miravete Eugenio J. (University of Texas at Austin)
Miron Jeffrey (Harvard University)
Moretti Enrico (UC Berkeley)
Moriguchi Chiaki (Northwestern University)
Moro Andrea (Vanderbilt University)
Morse Adair (University of Chicago)
Mortensen Dale T. (Northwestern University)
Mortimer Julie Holland (Harvard University)
Muralidharan Karthik (UC San Diego)
Nanda Dhananjay (University of Miami)
Nevo Aviv (Northwestern University)
Ohanian Lee (UCLA)
Pagliari Joseph (University of Chicago)
Papanikolaou Dimitris (Northwestern University)
Parker Jonathan (Northwestern University)
Paul Evans (Ohio State University)
Pejovich Svetozar (Steve) (Texas A&M University)
Peltzman Sam (University of Chicago)
Perri Fabrizio (University of Minnesota)
Phelan Christopher (University of Minnesota)
Piazzesi Monika (Stanford University)
Piskorski Tomasz (Columbia University)
Rampini Adriano (Duke University)
Reagan Patricia (Ohio State University)
Reich Michael (UC Berkeley)
Reuben Ernesto (Northwestern University)
Roberts Michael (University of Pennsylvania)
Robinson David (Duke University)
Rogers Michele (Northwestern University)
Rotella Elyce (Indiana University)
Ruud Paul (Vassar College)
Safford Sean (University of Chicago)
Sandbu Martin E. (University of Pennsylvania)
Sapienza Paola (Northwestern University)
Savor Pavel (University of Pennsylvania)
Scharfstein David (Harvard University)
Seim Katja (University of Pennsylvania)
Seru Amit (University of Chicago)
Shang-Jin Wei (Columbia University)
Shimer Robert (University of Chicago)
Shore Stephen H. (Johns Hopkins University)
Siegel Ron (Northwestern University)
Smith David C. (University of Virginia)
Smith Vernon L.(Chapman University- Nobel Laureate)
Sorensen Morten (Columbia University)
Spiegel Matthew (Yale University)
Stevenson Betsey (University of Pennsylvania)
Stokey Nancy (University of Chicago)
Strahan Philip (Boston College)
Strebulaev Ilya (Stanford University)
Sufi Amir (University of Chicago)
Tabarrok Alex (George Mason University)
Taylor Alan M. (UC Davis)
Thompson Tim (Northwestern University)
Tschoegl Adrian E. (University of Pennsylvania)
Uhlig Harald (University of Chicago)
Ulrich, Maxim (Columbia University)
Van Buskirk Andrew (University of Chicago)
Veronesi Pietro (University of Chicago)
Vissing-Jorgensen Annette (Northwestern University)
Wacziarg Romain (UCLA)
Weill Pierre-Olivier (UCLA)
Williamson Samuel H. (Miami University)
Witte Mark (Northwestern University)
Wolfers Justin (University of Pennsylvania)
Woutersen Tiemen (Johns Hopkins University)
Zingales Luigi (University of Chicago)
Zitzewitz Eric (Dartmouth College)

Death of a Democracy

The domestic news is bleak across the board. Brother Jonah has already weighed in on the government’s latest post-9/11 power grab. Here’s a little more on the subject.
 
From the Army Times:
Beginning Oct. 1 for 12 months, the 1st BCT will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.
IT STARTS NEXT WEEK

…this new mission marks the first time an active unit has been given a dedicated assignment to NorthCom, a joint command established in 2002 to provide command and control for federal homeland defense efforts and coordinate defense support of civil authorities.
IT’S UNPRECEDENTED

After 1st BCT finishes its dwell-time mission, expectations are that another, as yet unnamed, active-duty brigade will take over and that the mission will be a permanent one.
IT’S PERMANENT

They may be called upon to help with civil unrest and crowd control or to deal with potentially horrific scenarios such as massive poisoning and chaos in response to a chemical, biological, radiological, nuclear or high-yield explosive, or CBRNE, attack.
THE POWERS WILL BE UNLIMITED

The 1st BCT’s soldiers also will learn how to use “the first ever nonlethal package that the Army has fielded,” 1st BCT commander Col. Roger Cloutier said, referring to crowd and traffic control equipment and nonlethal weapons designed to subdue unruly or dangerous individuals without killing them.
AND AIMED DIRECTLY AT US

“If we go in, we’re going in to help American citizens on American soil, to save lives, provide critical life support, help clear debris, restore normalcy and support whatever local agencies need us to do, so it’s kind of a different role,” said 1st BCT Commander, Roger Cloutier.
IT’S POWERED BY THE PROPAGANDA MACHINE

For the past 130 years, the Posse Comitatus Act, along with the Insurrection Act, has prohibited the government from using the U.S. military for domestic law enforcement. However, the 2007 Defense Authorization Bill allows the federal government to deploy the military here at home basically whenever they feel like it. This new “federal freedom” will most likely be used to limit our Constitutional liberties and suppress dissent.

Who’s minding the store? How are these bills — including one that throws out more than 100 years of American history with a single pocket veto — passing without a whimper? Why don’t we know? And why don’t we care?

In the words of Willy Loman, “Attention must be paid!”

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).

Economic meltdown and the deafening silence of Barack Obama

lipstick pigBarack Obama has had ample opportunity to articulate a different program than George Bush and McCain’s foreign policy of continual war, militarism, and imperialism yet failed to do so. But still possibly some redeeming of his character and political program was possible in regards to domestic issues? However he has completely failed that test, too, and has shown no signs of opposing any of the Bush-McCain agenda to transfer the colossal private debt of America’s private financial institutions onto the Federal Budget itself. In short, he too favors bankrupting the American people as a whole by saddling the American tax payer with private debt run up by the super rich economic elites of our country.

What we have seen is a turn from ‘trickle down’ theorizing by the bought and paid for talking heads of media and business to an open assault on the American people that we should all call and label the Flood Up Economic Doctrine. Instead of just ‘socialism’ for the military industrial complex, we now will see ‘socialism’ being advocated and put into place for the Military industrial financial complex. None of this is socialism, of course, but rather is nothing more than corporate welfare provided by from the money of workers the capitalist class exploits.

Barack Obama is a pig in liberal lipstick here. In fact, women do like him and give more than twice the amount to his campaign as they do to the other campaign with bright red lipstick, the McCain-Palin louts. But there is nothing different about these two groupings, except the label branding. Barack Obama, too, will give away public money to bail out the super rich, though in fact, they will merely sink the American public and provide no real ‘bailout’ at all.

Vote for Obama hoping for some different policies, but it appears that you will become quickly disappointed. It is most probably that Obama and the Democrats will move into the White House, if only because the branding of the McCain ticket is having to cover up the ugliest pig with lipstick on of them all. They are having to paint lipstick on George W. Bush, and that is a sorry sight to the American public by now. Look for further signs of electrical economic collapse in the Whither Forecast for tomorrow.

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.

Sliming the tire to fix the flat

flatWatching the US Big Business government try to fix their economic flat is a lot like watching a driver sliming a car tire on the side of the road. It may or not work, depending quite a bit on the nature of the flat itself.

On Wednesday over $90 billion dollars left the value of US stocks, the largest amount in one day ever. That’s a lot of air lost through an economic puncture and lost very fast. The Federal Government is pumping slime in almost as fast as the air went out! ‘Slime’ being our collective national savings still calculated in increasingly devalued dollars.

None of this is too likely to work. If you look across that American economic tire you will see that it has been deeply slashed by a knife. I wonder who did it and why, don’t you? Beware! The people who did it may soon want you to buy them a new tire, even though the tire they made flat is actually yours!

AIG and Washington Mutual soon to follow Lehman Brothers down the drain?

while-you-were-outTo put things in perspective, it helps to know that Lehman Brothers holdings were 10 times the value of Enron’s, a company that also fell into bankruptcy amidst scandal. But the collapse of the American economy is not over yet, as other companies, such as Washington Mutual and AIG also appear to be on their way to going under. Here is what wikipedia has to say about AIG, the 18th largest company in the world, and one that in 2006 was fined over 1.5 billion dollars for fraud.

‘On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad who has served as Chairman of the Board of Directors of the Company since 2006.

In 2008, AIG’s share prices fell over 95% to less than $3 in September and the company reported over $13.2 billion in losses in the first six months of that year. As Lehman Brothers suffered a major decline in value and share price, potential investors began to compare the types of securities held by AIG to those held by Lehman, and found that AIG had valued their Alt-A and sub-prime mortgage-backed securities at rates 1.7 to 2.0 times those Lehman had used for what Lehman officials called similar securities. On September 14, 2008, AIG announced it was considering selling its aircraft leasing division, International Lease Finance Corporation, in an effort to raise necessary capital for the company. The Federal Reserve has hired Morgan Stanley to determine if there are systemic risks to a failing AIG, and has asked private entities to supply short-term “bridge” loans to the company. In the meantime, New York regulators have approved AIG for $20 billion in borrowing from its subsidiaries.

On September 16, AIG’s stock dropped 60 percent at the market’s opening. The Federal Reserve continued to meet that day with major Wall Street investment firms to broker a deal to create a $75 billion line of credit to the company. Rating agencies Moody’s and Standard and Poor’s, meanwhile, downgraded their ratings on AIG’s credit on concerns over continuing losses to mortgage-backed securities. The New York Times later reported that talks on Wall Street had broken down and AIG may file for bankruptcy protection on Wednesday, September 17.’

Will this company in fact file for bankruptcy tomorrow as the NYT reports? And what about Washington Mutual and the others? It’s beginning to look like the 30’s once again, and all doubt about ‘recessions’ or not is now over. The word is DEPRESSION. Hang onto your job, house, and pension if you can, for it looks grim.