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POPSFed Covers Up Financial Crisis the current tax, spend and bailout policies. His basic message is that the U.S. is broke and that the situation will get worse under an Obama Administration because of its commitment to more federal interference and involvement in the economy. Schiff, who blows the whistle on these schemes, is not very popular in the media, which have been telling us consistently that things would get better after Wall Street was bailed out. Nevertheless, during this discussion, a week before the election, Schiff predicted an Obama victory because “nobody is going to vote for four more years of this” and voters “are going to grasp at straws and vote for anybody who promises change.” But the change is phony, he warned. Obama “will put several nails in the coffin,” he said. “We’re going to get more of the same, only worse.” Fox News Host Jaime Colby asked, “Where are the criminal prosecutions because I think their pictures should be hanging up in the post office?”
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POPSIt's NOT a BAILOUT it's the biggest HEIST in Human History “We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.” Daniel Webster, speech in the Senate, 1833
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POPSThe Legacy of Keynes In the Keynesian framework, the largest chunk of spending is on account of consumer outlays. Therefore consumer outlays are regarded as the motor of the economy — consumption sets in motion real economic growth. But is consumption the motor of the economy? We suggest that one must make a distinction between productive and nonproductive consumption. While productive consumption is an agent of economic growth, nonproductive consumption leads to economic impoverishment.
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POPSCrisis wreaks havoc on shares The Feds are down to their last round of ammunition, but the crises are still coming at them in multiplying numbers. The big problem is not about interest rates, it is the fact that the principle will never be repaid. The banks know this, but the Feds do not.
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POPSHere comes the New World Order There is a report that the IMF is auditing the books in the USA. It says Dubya signed off on this, with the stipulation being that the final report is not released until after he is out of office. http://www.spiegel.de/international/world/0,1518,562291,00.html
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POPSSTOCK FUTURES RALLY OPEC tells IMF that without quick end to financial market crisis, bearish sentiment in oil market is likely to continue. • Saefong reports on taking refuge in gold
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POPSWorld Markets Soar After Last Week's Plunge
economy into recession. On Monday five central banks — including the U.S. Federal Reserve and the European Central Bank — unveiled new measures to thaw frozen credit markets and bolster funding to banks. The Bank of England, the European Central Bank and the Swiss National Bank said they would provide unlimited U.S. dollar funds to financial institutions. The Bank of Japan said it was considering similar measures. In Britain, three of the country's largest banks — Royal Bank of Scotland Group PLC, Lloyds TSB Group PLC and HBOS PLC — announced plans to take up to 37 billion pounds (US$63 billion) of government money to boost their balance sheets. Earlier in the day, Australia said it would guarantee bank and other lender deposits for three years. The moves came after leaders of the 15 euro-zone countries said Sunday they would guarantee new bank debt until the end of 2009, allow governments to help banks by buying preferred shares and vowed to rescue DOW up 350
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POPSFinancial Crisis: Fed Becomes Rogue Power
The Fed under Bernanke does whatever it wants. There is little constraints on it by law, being a creature actually outside of government. The "central bank" is actually a consortium of private banks with authority to print money "from thin air", as it states here. The Federal Reserve is no more "federal" than Federal Express. The only reason the Fed Chairman Bernanke went to Congress for a Bailout Plan (by using Treas. Sec'y Paulson to front, and hiding behind Bush) was to cover his hindquarters, and gain "consent" (by fear and coercion) of Congress, and putting Americans on the hook with them. Note the article states that the Fed acted already on its own to bailout Bear Stearns and make other "loans" (print money) without Congress: The Bernanke Fed first invoked rarely used 1930s powers to intervene — with taxpayer backing — in March when it provided a $29 billion loan as part of JPMorgan Chase & Co.'s takeover of Bear Stearns. The Fed is now Czar.
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POPSPlanting Seeds of Disaster In one of the first book-length scholarly studies of ACORN, Organizing Urban America, Rutgers University political scientist Heidi Swarts describes this group, so dear to Barack Obama, as “oppositional outlaws.” ACORN’s Inside Strategy Yet ACORN’s entirely deserved reputation for militance is balanced by its less-well-known “inside strategy.” The untold story of ACORN’s central role in the financial meltdown is about the one-two punch to the banking system administered by this outside/inside strategy. Critics of the notion that CRA had a major impact on the subprime crisis ask how a law passed in 1977 could have caused a crisis in 2008? The answer has a lot to do with ACORN — and the critical years of 1990-1995. Banks merger or expansion plans were rarely held up under CRA until the late 1980s, when ACORN perfected its technique of filing CRA complaints in tandem with the sort of intimidation tactics perfected by that original “community organizer” ,Saul Alinsky.
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POPSUkraine Market Crashes With all the stocks markets around the world taking a hit, it does seem like Babel is falling, or course that could just be GW's babble.
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POPSU.S. Casued Global Market Mayhem Gets Worse
Australia today did what you're suppose to do to help prevent this descent into Global Worldwide Great Depression. QUOTE: the Reserve Bank of Australia (RBA) cut its key cash rate by a steep 100 basis points to 6 percent on Tuesday, the biggest reduction since 1992. On Wednesday, the central bank went further by accepting more types of debt as collateral for loans and lend to banks for much longer periods. END QUOTE They are loaning money to banks cheaper...accepting more stuff as collateral for loans, giving loans to banks for longer periods of time. Period. A key words in the Aussie actions is: LOANS & COLLATERAL. The USA is BUYING bad debts and giving unsecured loans (with no collateral). Additionally, the Bush Plan not only gives away this money to banks to buy *hit...and gives loans with no collateral...but then the banks can deposit the money with the U.S. Federal Reserve and earn interest. (which d defeats the whole purpose of "loosing up credit for people
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POPSMarkets Fall: Government Throws Away More Money You don't have to be a lawyer to know if someone is lying -- But when a lawyer catches a witness in a lie it is often the beginning of the end. What caught my eye in this clip is: the government (USA) "will begin paying interest on the reserves that banks leave on deposit." Humm....we print the money...we give the money to the banks at super low interest rates...now the banks can give us back the money and charge us interest!? The next big part of the plan is to buy unsecured loans for threatened banks that may go out of business. Humm...Note: Other countries are buying assets or Number One Preferred Stock...meaning they get paid first if these banks fail. Also, rather than seeking to "inspire confidence," some suggest it would be better to dole out the cash for every new loan the banks make...which is what we want them to actually do. Other lies: "optional," warrents; & "mark to market," valuations. While our house burns, these alleged "firefighters," are steali
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POPSBernanke, Paulson, Trichet May Act to Unblock Lending (Update1) Rates are also surging in the commercial paper market that many U.S. companies use to finance their day-to-day operations. Yields on overnight U.S. commercial paper jumped 0.94 percentage point to 3.68 percent. `The Federal Reserve must now act as a clearing house'' for banks and ``must also take another bold step: outright purchases of commercial paper, said Bill Gross, manager of the world's biggest bond fund at Newport Beach, California-based Pacific Investment Management Co. Europe's Dow Jones Stoxx 600 Index having its steepest intraday decline since 1987 and emerging markets, until now the locomotives of the world economy, hit particularly hard: exchanges in Russia and Brazil halted trading. One less complicated step would be for central banks to lower rates in concert. Traders are betting that the Bank of England will lower rates at a meeting this week, and that the Fed will cut its benchmark by at least half a point at or before an Oct. 28-29 gathering.
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