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POPSOil & Gas Prices Plunge; Supply Unchanged High gas prices were driven by speculators in oil futures, low valuation of dollar, and war fears--NOT BECAUSE OF LIMITED SUPPLY. Making this point again since GOP propagandists were blaming high gas prices on lack of drilling and our "enemies at OPEC". Baloney! This should bring an end to that pack of lies. 1. This is investor driven, (read the analyst in the clip above). 2. The dollar is now regaining strength , which is used in international oil trade. (But the record $10.2 trillion national debt is made of fake printed money, which is inflationary, and still a huge problem). 3. War fears, which drive speculation also, have subsided as the prospect and drumbeat of war with Iran has diminished (for now). Until Israel foments war again. These are the three principle causes of high gas prices, now being reversed. Let the "drill" propagandists for supply as the cause now shut their mouths.
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POPSEconomic New World Order Emerges from Crisis Taxpayers lose as governments nationalize and intervene in banks to prevent collapse. This seems all too convenient an arrangement. They have always wanted a economic new world order and now, they say, is the time to do it. This financial crisis and the reaction of governments will go down as a major historical event that changed the world. Meanwhile, while the financial sectors are in throws, gas prices for consumers are dropping and there is still credit and loans to be obtained at good interest rates despite all their propaganda to scare up support for these interventions by governments.
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POPSDemocrats Get Ripped for Bailout Bill from Their Own The author is just getting warmed up in this clip. The entire article is worth a look at. (Actually, comparing Obama to Brutus is not a good analogy, for Brutus slew a tyrant Caesar, where Obama aided and abetted the financial czars and the Fed instead of defending the republic). The politics of Obama and the fearful Dems (Pelosi) cannot be overlooked in passing the bailout (even with republicans resisting): He lobbied hard for the bill. He did so, according to some who met with him on Capitol Hill, because he feared that if he opposed the bailout and it triggered a market collapse it could cost him the election. Better to placate the thieves on Wall Street than stand up for the masses of enraged and swindled citizens.
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POPSBlack Monday: Global Financial Crisis in Pictures Look: The Bailout did not stop this! The only things looking good are gold (soaring), government bonds (safer investments), the dollar (which has rebounded) and oil prices (which are now below 90 buck a barrel; hopefully $3 per gallon gas is coming soon; but we want 1.50 per gallon like when Bush and the war-spending neocons seized power, massively increasing government spending and national debt). World stock markets have plunged after government bank bail-outs in the US and Europe failed to stem fears of slower global economic growth. On Wall Street, the Dow Jones fell 370 points, ending below 10,000 for the first time since 2004. UK and French indexes also suffered big falls. For a definition of futures index in these charts go here.
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POPSThe Next Financial Bailout Bill Will Not Work
The truth is often so politically-incorrect. You will note that this was published in the UK, not in a US newspaper, and certainly not from the MSM. In other words get ready for a second hard sell since the first bailout bill was rejected (due to pressure from average citizens). Bush will bully-pulpit, Pelosi and Ried will scream again, and even republicans will line up, both Obama and McCain will push the same pitch and try to get wary Americans to sign on the bottom line. But the plan would not work. He says this is why bank stocks, not just investment firms are falling too: traditional banking – collecting retail deposits and making loans to ordinary customers – is barely profitable. Compared with the potential gains from a day at the currency-swap races, or a night in the derivatives casino, current accounts are cold potatoes. That is why bonus-hungry executives, at what we used to think of as boring banks, were so keen to spin the red-hot wheel of fortune. [/quo
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POPSPoll: 72% of Americans Do Not Support Bailout This is somewhat dated but the principle is the same. It also shows that the final vote of Congress was NOT out of line with the American public. Look closely at these statistics. The market is a sick patient and the only remedy is to let the market throw up and disgorge itself of the debts it has ingested. Force-feeding it to make it feel better will not cure, but even worsen the convulsions later.
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POPSThe House Sides with Main St: "No Deal" to Banksters! In this real game of "Deal or No Deal" the American taxpayer finally won a round against the financial heavyweights. While idiots in the House and talk radio (and the McCain campaign) tried to make this a partisan issue, Bloomberg tallies here that 40% of Democrats and 67% of Republicans combined together to narrowly defeat the Fed's bill that Bush supported. THAT IS CALLED A BI-PARTISAN DEFEAT OF THE BILL THAT AMERICANS IN THE MAJORITY TOLD CONGRESS THEY HATED! Conservative talk show host Michael Savage tonight (who has been railing against Bush as a fiscal socialist and the Wall Street banksters as crooks) underscored that he was right that Americans wanted "no deal" while talk show corporate sycophants (he let them have it by name)--i.e. Rush Limbaugh, Sean Hannity, and Bill O'Reilly--who supported the bailout were wrong. The defeat of this irresponsible bill was not based upon Partisanship, but good Principle.
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POPS150 Top Economists Say "Hold Off" on Bailout The economists say: "not urgent right now" and "will create more problems", and "expressed alarm at the haste of lawmakers and the Bush administration to pass legislation". Alot different than what Bush stated Wed night in his "Financial WMD speech" isn't it? Read the advise of these experts who warn: ``The situation may get urgent, but it's not urgent right now. Right now it's a financial sector problem.'' Apparently this helped to slam on the brakes Thursday: Today Senator Richard Shelby, a Republican from Alabama, said he has ``five pages of the leading economists in America that wrote to me and the leadership saying the Paulson plan is a bad plan. It will not solve problems. It will create more problems.'' Not hearing that on the news are we? Ask yourself why the MSM does not quote these credible experts instead of parroting the propaganda of Bush's (Fed) speech that the entire economy will collapse without a deal now.
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POPSNow Who Will Bailout the Federal Government? Contrary to Bush's speech this is what Americans should really be afraid of. Here is a sneak preview to a Forbes 9/28 article from Economics professor at Boston University. The real liability facing our government is $70 trillion. This represents the present value difference between all the government's projected future spending obligations and all its projected future tax receipts. This fiscal gap takes into account Uncle Sam's need to service official debt--outstanding U.S. government bonds. But it also recognizes all our government's unofficial debts, including its obligation to the soon-to-be-retired baby boomers to pay their Social Security and Medicare benefits. (The link in the clipmark goes to a pdf of his paper that will be published in Forbes)
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POPSThe Fed and the Banks, Money and Power This 8 min video sheds important light on how the Fed was created from a very similar financial crisis as is happening now. Is it surprising then that they are using this as opportunity to obtain more power? Anyone see the similarity of circumstances?
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POPSChina Attacks US Dollar, Wants "New Currency Order" China wants a "new world order" for currency and has tremendous financial leverage over America now. As the dollar gets dumped as the basis for global trade the US dollar's value is now bound to fall which will increase consumer prices very quickly. "Fiat money" printed by the Fed has now met its achilles heel when other countries regard it as worthless and unsafe as a basis for trade.
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POPSThe September Financial Terrorism Attack Puts some perspective on who is to blame. Very sobering. Americans have far more to fear from those within American government and business than outside of it. Corruption rules and brought the financial house down. Those involved should not be immune from prosecution, penalty, and financial accountability.
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POPSFed and Treasury Bailout Includes Foreign Banks Yep, tax dollars for foreign banks. They call it a "distinction without a difference to the American people". Welcome to global government rising, led by the so-called Federal Reserve--which is about as "federal" as Federal Express. They are in fact a consortium of privately held international banksters, linked primarily to England. The financial consolidation of power now is beginning upon an economic 9/11 under the plea of "necessity", as usual: Officials expect passage by huge margins in both chambers because Paulson and Federal Reserve Chairman Ben Bernanke have told congressional leaders the country’s financial stability depends on it. Those who print the money, make the rules.
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POPSBailouts Represent Usurped Dictatorial Powers by Bush, Fed, and Treasury Bloomberg warns, read the whole article. Bush, the Fed, the Treasury are seizing power, upon an Economic 9/11, and Congress is being coerced into immediate conformity (not wanting to take the blame for "doing nothing", while the financial companies who caused it escape accountability with free bailout) during an election season (Obama and McCain are quoted). The power is dictatorial and dangerous. It is in fact another Usurpation of power.
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POPSThe Wall Street Crooks, Elliot Spitzer and Financial Crisis Elliot Spitzer was after Countrywide and others, and was trying to get rid of the corruption on Wall Street. Several articles linked here and Savage's theory of why the crooks on Wall St. whom the government is now bailing out, wanted "the Sheriff of Wall St", Eliot Spitzer, out.
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POPSStock Market Continues Fall, Fed Bails Out AIG Crisis continues. AIG gets what Lehman Bros did not--a bail out by the Fed. Maybe the fact that Lehman Bros hired Jeb Bush as advisor a year ago and another Bush as asset manager (see previous clipmark on Lehman) did have a role in deciding not to bail out Lehman, which sent the market into a tail spin as investors and pension companies change their portfolios away from these firms at risk. The Fed's "loan" will be in the form of printing more money (devaluing the dollar, increasing inflation) by the Fed (which is not a government institution, but private bank cartel). The Treasury Dept endorsed it, which is a reflection of the Bush administration. The Fed bailout really is the nationalization of AIG (a mark of socialism, communism), since they did it for a "return of 80% public stake in the firm". The Fed "owns" AIG now.
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POPSGREED: Why Lehman Bros Went Bankrupt; Jeb Bush was Advisor Great video reports from MSNBC. (Click on the original clip link to go straight to video). NBC news tonight, Mon. Sept 15th had an excellent news piece explaining the magnitude of this financial crisis. But now note this! From a reuters news report one year ago , Aug. 2007: Lehman hires Jeb Bush as private equity advisor 30 Aug 2007 Lehman Brothers has hired Jeb Bush, brother of the President of the United States, as an advisor to its private equity business, a source familiar with the situation said. Lehman hired another relative of U.S. President George W. Bush last year--George Walker, a second cousin, who heads up the bank's asset management business. So guess who advised them poorly and managed their assets badly? Surprise!
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POPSLehman Bros Failure Looms, Stock in Free Fall Bear Stearns was first, then Freddie and Fannie last week, now Lehman is at the plate, and Washington Mutual on deck. The latter two are likely to strike out financially like the previous, all in the ninth inning of Bush's term and an inept Congress. (Democrats scramble to freeze foreclosures in an election season, which only delays the inevitable for people who have defaulted, and further stresses lenders who cannot liquidate bad debt.) As the article says, if they do, the Fed will ride in, absorb the debt and print the money for it (causing a weaker dollar, and thus inflation), as the major banking institutions of America become virtually Nationalized, and the Government will then play the Collection agency for defaulted loans. The mirage of America's financial prosperity and stability is falling, and as the Fed chairman warned a week ago, the fallout has not even begun.
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POPSM. Savage: Bush Nationalizes Banks, Freddie/Fannie Bailout "Bush is a fiscal socialist", and says McCain is no better, and certainly not Obama. The bail-out of Freddie and Fannie DOUBLED the national debt over the weekend . The economy is in big trouble. He's right, America is clearly socialist (and has been since FDR), while republicans think Bush is conservative, and McCain will not change that either.
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POPSFed Chairman: Economy Bad, Worst "in Memory" It is not just gas prices. Bernanke talks about how inflation has not yet had its full effect , comparing it to a storm that has not yet fully hit the mainland: "Although we have seen some improved functioning in some markets, the financial storm that reached gale force'' around this time last year "has not yet subsided, and its effects on the broader economy are becoming apparent in the form of softening economic activity and rising unemployment,' Bush and McCain do not acknowledge this, and Obama's policies would never fix it. The role that both Bush and Congress have played in RUINING the economy through government overspending (on unjust wars), devaluing the dollar (which is a key factor in inflation), and causing a rise in oil prices, are not discussed. The Fed is not innocent and causes inflation too by printing more money for government overspending from thin air! The Fed Chairman is using this to try to obtain new powers for th
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POPSOil Supply Increases, Oil Price Increases Proof again supply is not the problem driving prices on oil and gas. Note this happens as the oil laden Caspian region (Russia, Georgia, etc.) comes into play with war and rumors of war--and particularly as Condi Rice (former exec at Chevron) goes around heightening US rhetoric against Russia and signing provocatory missile agreements with its satellite states. It is not actual supply so much as perceived supply which is effected by wars and "geopolitical" tensions and factors . Change the (neoconservative) war policy, prices will drop.
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POPS$4 per Gallon Gas Pinching Low Income Families Worst This is forcing major shifts in spending and life changes as the cost of everything goes up respective to fuel costs, not just at the pump. This is pinching Americans, especially at lower income levels, while the well off remain careless and distracted. In turn this will increase government welfare spending, and force some out of their cars completely. All this to due dollar devaluation, due to heavy debt spending by government, printing money, to finance unjust and needless war-mongering abroad against countries that pose no threat to the U.S.. The poor suffer the most, as usual, who have the least to do with war policy, merely attempting to survive.
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POPSWeak Dollar and Traders Behind Gas Prices, Not Supply and Demand This refutes a lot of talk about OPEC and such causing high oil and gas prices. It also explains higher prices on consumer goods, not just driven by fuel prices alone. The dollar is becoming as valued as the paper its printed on, which (this articles does not go into) is because of national indebtedness for heavy war spending, as Ron Paul pointed out during his campaigning. Traders and speculators in the investment community are increasingly buying oil futures for their portfolios and war fears (i.e. war on terrorism, middle east war-mongering) increase price on the trade floor, period.
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POPSSilver Coins Highly Valued as Dollar Declines from former Treasury Sec'y Paul Craig Roberts, who should know. Look at the value of silver coins--if you have or find any horde them! A silver quarter is worth $3.55! The article is worth reading, takes you from dollar decline to coming war with Iran, which he says will be the last financial straw.
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POPS$4 per Gallon Gas Coming by Spring Oil prices have quadrupled in 6 years it states, that is since the "war on terrorism" started with the Bush regime. The comparison is made to the last middle east conflict in 1980. Do Americans really want to pay this price, for arbitrary and unjust wars?
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POPSBlack Monday: London and World Markets Drop London and world reacts to Bush economic stimulus plan--i.e. get ready for U.S. recession, sell! Actually it was the Fed Reserve that approved, pushed Bush's announcement last Friday. Watch how the U.S. stock markets do Tuesday after today's day off. This is also the price of war (oil prices are beating up consumers, including all consumer goods transportation costs) and huge government debt. Note the UK here says their gov't might have to raise taxes...which will kill everything worse!
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POPSBanks Seeing Red, Comparing to 1929 "Happy New Year?" Doubt per what bankers are saying. This is a major crisis that they cannot prevent, and the international banksters are the ones who caused the trouble!
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POPSGOP Candidates Awake to Economic Crisis--Sort of Note Fred Thompson's quote. Almost sounds like Ron Paul, doesn't he? But they offer no concrete proposals as does Ron Paul, and their cheer leading for "optimism" (blue-blood Romney) is a denial of the severity of the problem that Americans already realize. Ron Paul offers the real solution to eliminate the Income Tax, cut the Federal government back to Constitutional limits, and stop excessive spending, particularly on a trillion dollar war policy.
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POPSImpending Destruction of US Economy Economist and former assistant treasury secretary in the Reagan administration does not mince words. Recall that some Wall Street firms this week finally issued a warning of coming recession. Roberts points out just who Washington and the Fed will support--and it will not be you, the American citizen or taxpayer.
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POPSMerry Christmas: Recession Coming to Town The cost of war-mongering, including oil prices and national debt, will finally come home to roost and Americans will no longer be able to play while causing chaos in the world without feeling a pinch themselves. "Whatever a man (or nation) sows, that will he also reap". The housing sub-prime loan debacle will cause Humpty to fall off the wall, and you know the rest of the story. The Banksters are behind the wars (hint: changing theocratic countries opens new financial and merchandising markets), the same who made money on luring people into foolish loans. They are also the ones who bring you "Christmas" (a festival of spending) every year, the real Scrooges who profit from the so-called "holy-day".
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POPSGas Prices: Funny, Not So Funny Amazing how everyone has already forgotten the sticker shock when it surpassed $2 per gallon. In January 2006 we had prices almost that low, about $2.19 per gallon. Now we are paying almost one dollar more at 3.09. The crude price rose due to war fears about Iran as well as a devalued dollar. Americans are paying a War Tax at the pumps , in addition to Fed and State tax of about 45 cents/gallon (the gov't makes more than oil companies on this high tax). These prices make even Jimmy Carter look good. The transportation costs of consumer goods has gone up (e.g. eggs $2). This is pinching Americans discretionary income, which will slow the economy, and debts are high, loans going bad in housing.
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POPSEconomic Crisis Looming: Bank woes, Stocks Drop, Consumers Pinched as Prices Up Yet only one presidential candidate has been predicting this, and has criticized the Fed (and Congress for not managing the Fed) for printing more money, devaluing the dollar, which leads to price inflation, increased retail fuel prices, and the war-mongering against Iran increases crude oil prices to record highs. Consumers with higher oil and grocery prices (due to fuel and shipping costs) are left with less discretionary income, which WILL effect retails sales. These articles reflect that and report consumer confidence is down. Technically, by the numbers, there is no recession (2 qtrs of negative growth) but the military-industrial complex is keeping growth alive. Hint: This could be a sign of war with Iran...war (government spending in the defense contractors) drives economic growth (e.g. 1940s). (Then the FBI issues a statement and ABC says terrorists threaten to hurt economy, attack malls. Will that be the excuse for a drop in retail sales this winter?)
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