The Sucker Bait Called Hope

30/11/2008 § Leave a comment


Most Americans, regardless of their political leanings or religion, would not recognize the common good if it bit ’em in the ass. We have no genuine concept of common good. We really don’t. Toqueville observed that 170 years ago. He said that in America, no man owes another man anything. Nor is he owed by any other man. Where does that leave any movement toward the common weal requiring the cooperative efforts of more than one man?

Joe Bageant: The Sucker Bait Called Hope


Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo

29/11/2008 § Leave a comment


The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed through into an inflation shock, wrote Tom Fitzpatrick, Citibanks chief technical strategist.


Alex Jones’ Prison Planet: The truth will set you free!

The Citigroup Bailout

28/11/2008 § Leave a comment


This is not a particularly good deal for American taxpayers, but it is a marvelous deal for Citi. In return for all the cash and guarantees they are giving away, taxpayers will get only $27 billion of preferred shares paying an 8 percent dividend. No other strings are attached. The senior executives of Citi, including those who have served at the highest levels in the US government, have done their jobs exceedingly well. The American public, including the media, have not the slightest clue what just happened.

Meanwhile, more than a million workers in the automobile industry, along with six million mortgagees, and a millions of Americans who depend on small businesses and retailers for paychecks, are getting nothing at all.


Economist’s View: The Citigroup Bailout

Collapsing the Economy in the Buildup to World War III: 11 of the Most Important Economic Events of the Last 11 Years

22/11/2008 § Leave a comment


Since 1999, the following events have either caused or been the symptom of the present economic crises:

1) Year 1999: Introduction of the euro to world financial markets

2) Year 2000: Collapse of the Dot-com bubble

3) Year 2000: Iraq dumps the US dollar and switches to the euro

4) Year 2005: Rewriting the U.S. Bankruptcy Law

5) Year 2006: Discontinuance of M3

6) Year 2006: Iran moves from US dollars to the euro

7) Year 2006/07: Subprime Market Collapses

8) Year 2007: Run on The Bank in the US and UK

9) Year 2007: 52% Support U.S. Military Strike Against Iran 

10) Year 2008: US comptroller general and head of the Government Accountability Office resigns

11) Year 2008: US and UK impose Short selling ban – Analysis and discussion about the world we live in.

Chinese May Buy GM and Chrysler | The Truth About Cars

20/11/2008 § Leave a comment


Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, Chinas 21st Century Business Herald reports today.

A take-over of a large overseas auto maker would fit perfectly into Chinas plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when hes in deep trouble.

That is sure to get the rah rah rah sis boom bah we’re number one crowd excited!

Two words of advice for American workers: LEARN MANDARIN!!

Chinese May Buy GM and Chrysler | The Truth About Cars

Can Central Bankers Prevent a Great Depression? – Seeking Alpha

19/11/2008 § Leave a comment


What this crisis reveals is a broken financial system like no other in my lifetime, said former Fed chief Paul Volcker on November 17th. Normal monetary policy is not able to get money flowing. The trouble is that, even with all this government protection, the market is not moving again.


Can Central Bankers Prevent a Great Depression? – Seeking Alpha

Don’t Believe The Rally

19/11/2008 § Leave a comment


President Obama is going to find himself on the wrong end of reality, and be forced into austerity measures that neither he or Americans are going to like one little bit. I wouldn’t want his job when he is forced to go on Prime Time TV to tell America that we simply can’t finance our profligate spending any more and that serious, real, across-the-board cuts are going to have to be made to our federal budget, entitlements and "promises" – that we simply cannot keep those promises.

Historically there is only one other way out of the trap we are now in.

Start a war.

A really big one – big enough to kill a couple million Americans (reducing competition for jobs) and destroy a trillion or more dollars in American "stuff" (that will have to be replaced.)


The Market Ticker

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