Oh Chit, Oh Dear.

Clinton and Bush killed us, and we didn't overthrow either one of them. Now it's too late.

Goodnight America, Sweet Prince

TJ

"All tyranny needs to gain a foothold is for people of good conscience to remain silent." - Thomas Jefferson

Pan

HMM

No one needs more than say 40 Million :)

Ted Turner

Do you know what an ohnosecond is? It's that fraction of a minute when you realize that your T-totally screwed. If there is a bottom it will surely be hell.

George will be just fine.

George S., an article by Wayne Madsen

http://onlinejournal.com/artman/publish/article_4391.shtml

Umn,one might almost think this was part of a mad plan to take over the world -- when, everybody's broke, those with money can buy up everything, including the air that's still fit to breathe.

Actually though, it's just the result of unbridled Arrogance, Greed and Ignorance.
_________
There's a glory in the morning because the earth turns 'round and a promise in the evening when the sun goes down

The fear mongers have turned America into cowards. As America goes, so does the world.

New World Order , is close to completion, they need a New World Financial system, a new world currancy, computer credits. Which is now very easy to to do, thanks to modern computers and the internet.

But first, you have to get rid of the existing financial system and currancys, How do you that?????

Easy, you make all paper money and the global financial system worthless by stealing all the wealth in the world using derivatives and hedge funds.

BornFreeMen

The bottom is very close to in. 90% of home mortgages in the US are current, unemployment is below 10%. People are saving. Awwwwwww.....tiz a very good day in America.

Photo (Reuters/Chip East)
Investor George Soros bites nails nervously while delivering grim foreboding.

i don't have any doubts that the world economic situation is quite bleak,(indeed, it's been bleak for much of the world for a long time), but i strongly suspect that it's in the interest of people like soros and volcker to make things worse/appear worse. what has collapsed is the value placed on the financial speculations of men like soros, parasites on the economic base. the "economic collapse" is being used to mortgage the industrial/material base, the "real" economy, to people like soros.

the growth model of the last 100 plus years of industrial capitalism is not sustainable anyway. isn't that really the fundamental, indeed only, issue? nobody's gonna give a crap what con-men like soros think when the environment collapses.

Water, food, clothing, shelter, and health care. These are the basics that will concern us in the years ahead.

I hope and pray no other country launches a pre-emptive attack against the United States (you can do that now unilaterally...it's legal) for the act of world wide terror and aggression staged by the Wall Street Bankers.

I hope no other country grabs one of our bankers and renditions him away (that's legal too, we do it, even Obama agrees) to a far away place.

There's a chance that our brave banker ("banker combatant") may be waterboarded. But according to George Bush's OLC (john Yoo) this isn't torture. Obama verified waterboarding is not a war crime by not prosecuting those who planned and engaged in it.

I know how much our brave bankers love the U.S. and the Constitution and are willing to sacrifice everything they have to defend our system of free-market capitalism.

God Bless America and God Bless our Bankers!

Can we change our flag to a $100 bill...er, I mean Federal Reserve Note?

Getting rid of money and credits and going back to barter would be a solution, but it might take us back a hundred years in terms of our acquiring high end consumer goods. That may not be altogether a bad thing.

A better solution I think would be to stop the enormous predatory damage that extreme money-power concentration causes by capping the net worth of every adult in a yearly referendum.

Concomitantly, to deter rising world birth rates that deplete resources, pollute and cause resource wars, environmental immigration, crime, disease, famine and global warming, we could make the birth rate inversely proportional to the wealth cap. The more children, the lower our net worth can be. The less children, the higher our net worth would be.

Such an incentive would lower our population numbers humanely to near the carrying capacity of the earth without wars and other bestial interventions.

This may be an utopian solution, but I think if we strive for an Utopia even if we never get there, things can only improve.

Well, Soros warned about these difficulties long ago: the system of financial management that overtook productive sectors beginning in the 70's, as outlined in "The Puritan Gift" by Kenneth and William Hopper: focusing on short-term profits, inflating stock prices, going whole hog into speculative markets ( commodities & housing), maintaining current accounts with commercial paper, low rates of capitalization- i.e. non-sustainable means to jack-up global markets and rake in huge profits without giving proper attention to practical industrial efficiencies and fundamental rather than merely "stylish" excellency of product. Naturally, the government- basically in the hands of those with the most surplus to spend into elections- supported the effort and even went so far as to systematically dismantle the tax system through numerous loopholes, credits, deferments, shelters, unapproachable trusts and inadequate collection services.

Now, there is a certain logic to Soros' doomsdaying. First, the stats. show what he says to be true. But perhaps more importantly, as Paul Krugman has pointed out often enough- its obvious that the current bailouts and stimulus's are insufficient. Another round of both will be needed ,however difficult it has been to get the one's we have now in place.

The problem is that even if another round of spending is approved it is doubtful that it would work- if substantial regulatory and tax reforms are not put into place first.

Another round of idiotic borrowing and a mounting deficit without a real plan to start paying off these debts will just keep eroding confidence and disadvantage businesses which are trying to do the right thing: building from the bottom with an eye to long term sustainability. Nobody wants to let the demon of inflation out of the box but, if the correct amount of "bail-out" and stimulus is to be exercised, a much stiffer regime of taxes will be required to keep it under control.

See what the "saving" options are? Big-time government spending and high taxes. Shrinking spending and cutting taxes is a political supertanker- embraced by all parties- that doesn't turn around on a dime, not even in fifty miles. One things for sure: what needs to be done will never get done if we leave it all up to the President. That's not the way real change happens.

mistake after mistake after mistake is not a mistake. it is just suppose to look like one. this is a manufactured re-depression. all the talk about lehman bros., then why did they not save it? the powers that be let it fall because they needed that first domino to fall. this is financial control through chaos. they now have justification when they tell us, " drastic times call for drastic measures " when we start hearing this phrase, then it is game time. we ain't seen nothin yet.

Soros has been trying to destroy America for years....whats new anbout anything he says?

"Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis."

Billionaire George who made his fortune on debt currencies as have all the other billionaires, doesn't like to entertain the idea of going back to the gold standard.

http://www.professorfekete.com/articles/AEFHowToStopTheDepression.pdf

Accumulation of wealth remains the prime motivating force in the industrialized world. Since the wealthy can make money with great ease, which in turn benefits the rest of us with jobs and security, our society will continue to permit, encourage, and assist the wealthy to exploit the poor and middle class for the purpose of accumulating more wealth. The drive for wealth will continue to have the effect of impeding the formation of a social organization of intelligent design that would otherwise achieve the greatest and longest lasting fulfillment and the greatest chance to resolve pending emergencies. Instead, it gives opportunity only to a distinct few, whom by their position and wealth can easily control our direction and manipulate us as well. This direction we have taken for several hundred years was not chosen or conspired, but has just happened or evolved by the unhampered will of the powerful and the aspiring.

In the last fifty years this direction has created a merging and concentration of power which is ever more capable of transferring wealth to this power center. There is now a conscious effort from this energetic center to expedite total control of money, resources, and technology even in this time of crisis, which will protect them against the slow collapse of the capitalistic system brought about by the predictable depletion of the worlds resources and the need to conserve and protect the environment together with their total disregard for the needs of the working class people.

At this point in time, there will be a great opportunity for America to turn this destructive direction around. Since growth has come to a standstill and profit making minimal, we can take this opportunity to turn our intelligence and resources toward building that great society deprived us for so long by our drive for wealth.

If this is to happen, it will not be not by legislation or government leadership, but in the reverse way that it came about.

Revolution is in the air. Read about the State Sovereignty movement.

http://www.republicbroadcasting.org/index.php?cmd=news.article&articleID=3422

So the question is. Why are all these rats with all the money sitting on the sidelines?

“The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.” - John Maynard Keynes

What goes around comes around. Soros thinks things are coming apart at the seams, perhaps even faster than the demise of the Soviet Union. The timing couldn't be more perfect for the US to be escalating the war in Afghanistan. Now, if Russia supplies the Afghan freedom fighter with shoulder held rocket launchers to shoot down American helicopters, the circle will be completed.

Soros and other "renowned investors" took advantage of the collapse of the Bretton Woods post war agreement and turned the world into a giant casino of currency speculation. The fact that an honorific like "renowned investor" is applied to Soros in itself explains why the wold's monetary system is collapsing.

Soros is little different from Snuffy Smith when he takes the milk & egg money and loses it in a card game, except that Snuffy Soros won the card game. Soros gives investing a bad name. He's a frigging gambler, as most financiers are. They no longer serve the public interest through the productive allocation of capital, if they ever did.

The crisis must stimulate more public awareness of monetary realities or we're all screwed. A new understanding of money as a public utility has got to develop. Currently money is regarded as the prerogative of private capital. But money is as necessary for the general welfare as electricity and water. The nationalization of banks would be a positive move. Government control of the monetary system seems the only alternative. Private financiers do not operate in the public interest.

There is a solution to this crisis, but it is not through the continuation of the private monetary system, which is why financiers like Soros are so gloomy. They cannot imagine an alternative to private finance. Here's a hint, George. Can you say "greenback"?

One the wealthest men in the world telling us how bad it is going to be! Now that's a joke.
When all hell brakes lose Georgie boy, I for one hope you live in fear,in your glided cage, with you mercenry army guarding the gates.
The life of those left outsides thoses gates perhaps will be as Bernard Shaw said, "You are going to let the fear of poverty govern your life and
your reward will be that you will eat, but you will not live."

Energy has always been the basis of cultural complexity and it always will be. … the past clarifies potential paths to the future. One often-discussed path is cultural and economic simplicity and lower energy costs. This could come about through the "crash" that many fear -- a genuine collapse over a period of one or two generations, with much violence, starvation, and loss of population.

The alternative is the "soft landing" that many people hope for - a voluntary change to solar energy and green fuels, energy-conserving technologies, and less overall consumption. This is a utopian alternative that, as suggested above, will come about only if severe, prolonged hardship in industrial nations makes it attractive, and if economic growth and consumerism can be removed from the realm of ideology.

-– Joseph A. Tainter

Will there be private dining rooms for billionaires at the soup kitchens? Questons.....where has all the money gone? And, where is all of the money coming from to keep throwing at the problems? Seems that the public has a better handle on this mess than the people we hired (voted for) to clean it up.

theinitiate
I think ezflyer had it right when he wrote that we will have to go back to the barter system-unless the other thing happens, the nocash all credit monetary system. I've been hearing about this for a long time. THis is a way to really control people. At least with cash you can decide what to buy when. You should only be able to buy what you can afford. Once credit is introduced and you are judged by how much and how good your credit is, then the ball just keeps rolling down hill. I can only imagine how this can be used as a tool to control people.
There is a solution, go off grid-underground -nowhere to be found.
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I know this seems crazy even at this time-but if this situation gets even a bit worse, then it seems that would be the answer. I don't want to do this, I have two kids who still think the world is going to be the way it was for their parents. They are not even teens yet.
I don't want to believe that things could get worse. I don't want to beleve that this can't be fixed. I read and read,not just here, but some of the books that discuss the history of our financial system. I'm sorry I didn't read this sooner in my life. I have to some extent had an idea of the possible collaspe of life as we know it for many, many years. I brushed it off as doomsday, conspiracy theory, too much imagination-stuff... but now that all the events that were predicted a few years ago are actually happening, does that mean that all the events that are being predicted now will happen? I am listening, wide -eyed and ready...