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Financial Meltdown 101A Dig compiled by the editors of TruthdigGetting a grip on the economic catastrophe that rocked the country during the fall of 2008 is no easy feat, what with so many players, back-room deals, bills, upswings and meltdowns to consider. To that end, Truthdig, once again in collaboration with Capzles.com, has put together a comprehensive multimedia timeline that explains how we got into this mess and how we might avoid repeating history in the near future. Update: As of 11/24, this Capzle is updated with several new articles and A/V clips.
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By Glen Wayne, November 3 at 2:39 pm #
The tunes match the mood even in the robust economy of Saskatchewan.
Here is some verse for the time.
Yeah though I walk in the valley of the ballyhooed,
Report thisbloated in liquidity,
I wait for the watershed moment,
to fear stability for the future markets of frenzy.
The discomfort of staff less reason,
to overcome the golden mean of
moderation beyond belief…
Ah sweet relief…sweet relief, sweet relief.
By MarthaA, November 3 at 1:14 am #
Garth,
Garth said: ” Or will we fall into Fascism, as the likes of the Bushes, the Wall Street money men, and the rest of those so called “persons” have hoped with the advice of their socio-economic planners.”
MarthaA said: The only way we as a country will fall into fascism is if we, as a country, follow the lead of the Republican Party’s Tea Baggers, who are the scapegoats for the Republican Party Conservative EXTREMISTS to lead the country into full blown fascism, should the country be foolish enough to follow the Republican Conservative EXTREME again.
The Republican Party Tea Baggers are tooted and presented as competetion for the Republican Party EXTREMISTS, but it is only a ruse. There is no way the proletariat of the common population will ever really lead the Republican Party EXTREMISTS. WE THE PEOPLE of the greater MAJORITY Common Population must be wise enough not to follow the Republican Party’s EXTREMIST tea party scapegoats now with Sarah Palin along with Dick Armey, as if they are not EXTREMISTS——they are EXTREMISTS acting as liberals—trying to get back into power to finish the country off.
Report thisBy garth, November 2 at 2:04 pm #
At this point of truthdigging, I can come up with two aspects of the Financial Meltdown: the Madoff Scheme and the Madfor Scheme. We’ve already heard about Bernie and his played shenanigans, but what I think is the underlying thrust of all this news is the reluctance to unmask the real scandal.
The Madfor scandal was made for the wealthy elite and their military-news media, and to come, their local government initiatives.
It seems obvious to me, and it should to any cognizant human being that we, the citizens of the world, have been screwed, blewed, and tattooed, and our government, so to speak, has been part and parcel of the whole scheme.
Trace the whole newsy presentation of this fiasco from Frontline to nightly news to C-SPAN to currently released literature and there is a thread of evidence that they try to avoid, but they can’t help but reveal in the telling of the story. The point is that this was all done by design. The sub-prime real estate sales, the securitization, the low Fed rate, the banks and the personalities that were in the middle of this scam and the relenting howl that these people were just incompetent, greedy, and dispassionate.
Like the era before WWII, we are at a time when the pancake is about to be flipped. Is the under side done?. Or will the populace cling to Democrtacy and go for the response that it did with FDR and the progreessive persons leading the way? Or will we fall into Fascism, as the likes of the Bushes, the Wall Street money men, and the rest of those so called “persons” have hoped with the advice of their socio-economic planners.
They are licking their chops because they foresee that it will be entirely by democratic vote, and there is nothing these inter-married morons enjoy more than to think that they are smart and everyone else is stupid.
Read Webster Tarpley’s, “Surviving the Cataclysm”, I have it and I am about to. I must say that I am afraid I might have already missed the boat.
Report thisGod bless!
By webgirl, November 1 at 12:22 pm #
(Unregistered commenter)
In the times that Fannie and Freddie couldn’t make the market, they became the market. Over the years, it added up to an enormous obligation. As of last June, Fannie alone owned or guaranteed more than $388 billion in high-risk mortgage investments. Their large presence created an environment within which even mortgage-backed securities assembled by others could find a ready home.
Report thisBy ThomasG, October 28 at 6:25 pm #
Why is it that the American Aristocracy and the American Professional Middle Class bind together in their walled and gated communes and bind together into Corporate Communes for communal benefit, and then lash out from the comfort of their walled and gated communes against the 70% MAJORITY Common Population of the United States demanding that the 70% MAJORITY Common Population of the United States be isolated as individuals that must have life, liberty and the pursuit of happiness with the freedom and justice of isolated individuals without the benefit of their own communal resources?? ——Why is Communism for the few, the American Aristocracy and the American Professional Middle Class, good Communism??——and Communism for the many bad Communism??
What is the difference between good Communism and bad Communism? All of my life, and I am 64 years old, Communism for the many has been villified and vehemently denied to the masses of the American people and at the same time Communism has been used by the few, the American Aristocracy and the American Professional Middle Class to expropriate the Communal resources of America’s 70% MAJORITY Common Population for the benefit and use of the American Aristocracy and America’s Professional Middle Class without benefit to America’s 70% MAJORITY Common Population.
Is the American Dream and its doctrine of life, liberty, the pursuit of happiness with freedom and justice for all no more than a “pyramid scheme” by the American Aristocracy and American Professional Middle Class to benefit from the Communal resources of the Common Population by demonizing Communism for the many as bad, while benefiting from Communism for the few?
The TENS of TRILLIONS of DOLLARS of Communal resources of the masses of America’s population spent as “price support” to maintain the value of PRIVATE Capital owned by the few at the expense of the many SCREAMS to the masses of America’s population that the American Dream of life, liberty and the pursuit of happiness with freedom and justice for all is nothing more than a “pyramid scheme”, and that if Charles Ponzi and Bernie Madoff were part of America’s political leadership they would have been patriots, rather than criminals; apparently their crimes were that their “pyramid schemes” took resources from the American Aristocracy and America’s Professional Middle Class, rather than America’s 70% MAJORITY Common Population, because TENS of TRILLIONS of DOLLARS taken by the American Aristocracy and America’s Professional Middle Class has not resulted in criminal prosecution.
Report thisBy kids water shoes, October 27 at 10:28 pm #
(Unregistered commenter)
Doesn’t anybody remember that when an Israeli official stated publicly that war with Iran was certain and imminent, he caused the one of the largest one-day oil spikes ever!!!
Nobody could even think of buying a sports utility or a big house in the suburbs that would require a daily commute. People suddenly couldn’t make their house payments, because they couldn’t afford the gas to get to work. Housing values and auto sales nosedived.
Kim
Report thisBy garth, October 21 at 5:19 pm #
Wow, KDelphi! Thanks for that great post. It’s your kind of on-the-ground, line-sight-sight reporting that makes this site worth coming back to.
Report thisCoincidence, maybe, but I had the same kind of reaction to Uwe Reinhardt on C-SPAN when he extolled the virtues of our great drug company inventions, the kind of drugs that take longer in a commercial to disclaim how it will harm you than it takes to say what it do for you, or the useless kind that cures lazy leg or dizzy bum syndrome.
I really appreciate your entries.
Thanks
By KDelphi, October 21 at 12:18 am #
garth—i agree with what you say, but I tried to contact Stan Brock—a friend of mine wanted to send in a video crew for his setup in Wise Co Va., when Obama was going to Camp David for the weekend—I thought Obama might like to “stop by”!
I had intimated that I thought that health care was a human right, and got a very strongly worded rebuttal fropm his staff,that he felt that it is NOT a right, and that he wouldnt treat anyone who didnt greet him with smiles and great gratitude. I asked how he would solve the problem of so many uninsured and dying, and he said that charities like his could do it and the rest could “work for it”.
I found him to be a very “surprising” man….to say the least. I mean, I dont know how you can see this crap day in and out in the uS and think that the solution is charity—needless to say, they didnt want us to film. I had thought maybe I could get him some publicity and obama to show up. He doesnt want it. That seems to be sacrificing lives for some unnamed “principle” to me, but…who knows
The reason they wont let them cross state lines to practice is that many drs who have had licenses revoked, suspended or have been sued, repeatedly, wil cross state lines to set up practice again. It may not really apply here, but, thats the reasoning. I had a dr screw up surgery really bad once, and I couldnt even get his license revoked—a slap on the wrist. My attorney told me that 80% of lawsuits never see a courtroom. And I had a top surgeon from Cleveland Clinic Found to testify against him—he called it “not suitable for veterinary care”, but, the guy is still practicing. His name is Dr. Slingluff and the last I saw him, he practiced out of Canton, Ohio—-warning to all. All that I can do is warn others—he still advertises for patients in the Cleveland newspapers!
Report thisBy haroldmh, October 19 at 3:40 pm #
(Unregistered commenter)
A sign of the times.
The U.S. dollar is down 14% against the Botswana pula.
Report thisBy garth, October 19 at 2:15 pm #
Stan Brock of the Remote Area Medical (RAM) said that the greatest impediment to his cause is the unwillingness of states besides Tennessee to allow doctors to cross state lines and use their medical training.
Report thisHealth insurance companies cannot be sued for for their practice of price fixing. Dr Woolhandler of Harvard said they are selling a defective product. Hear! Hear!
We, the U.S. etectorate, have been cornered. And like a rat, the only reaction to a no win situation is to attack, straight on with fangs.
Try voting! Who’d you vote for? Guess again.
By tim, October 19 at 10:37 am #
(Unregistered commenter)
Where is the capzle?
Report thisBy MarthaA, October 12 at 1:50 pm #
Was the Financial Bailout Just a Slick, Friendly Takeover of the Federal Government?
By Bill Moyers, Bill Moyers Journal. Posted October 12, 2009.
Moyers interviews Marcy Kaptur, a hero of Michael Moore’s latest documentary and former IMF head Simon Johnson on Wall Street’s purchase of our democracy.
http://www.alternet.org/workplace/143209/bill_moyers:_was_the_financial_bailout_just_a_slick,_friendly_takeover_of_the_federal_government/Baselinescenario.com?page=entire
Report thisBy doublestandards/glasshouses, October 12 at 10:53 am #
(Unregistered commenter)
The congresswoman from Ohio who appears in Michael
Report thisMoore’s Capitalism A Love Story:
http://www.pbs.org/moyers/journal/10092009/watch.html
By KDelphi, September 29 at 5:23 pm #
doublestandards/glasshouses—good video! although I have to redownload it to watch the end of it. (slow, old pc)
Everyone should watch it.
Report thisBy doublestandards/glasshouses, September 29 at 1:10 pm #
(Unregistered commenter)
For understanding the current crisis:
Report thishttp://www.lifeincorporated.net
By Night-Gaunt, September 28 at 4:33 pm #
As long as they can get away with it it is bad. But not fully fascism yet. But it is coming closer every day. That is the problem.
Report thisBy rockinrobin, September 28 at 1:35 am #
(Unregistered commenter)
putting “science first” they threw “nutrition” out the window; thru media manipulation put chemicals in everything to HARM us; NO COUNTRY would eat or buy the TOXIC chemcials in everything: EXCEPT the people of the USA; Poisons even in all women’s make up: cancer brings big bucks to them; http://www.naturalnews.com; http://www.mercola.com; http://www.motherearthnews.com: our homes are toxic waste; deliberately targeting & killing children; this Gov is well known as “baby killers”;
Report thisNow aggressively attacking all water supply: claiming it “belongs” to THEM: pay what they demand or in 3 days you will die: THIS they are doing GLOBALLY of course:
Premeditated long time goals with malicous intent with disdain, contemmpt and feeling they have the RIGHT to STEAL deliberately INFLATING prices: ignoring others: & keeping the $ for themselves; VICTIMIZATION by banks, Wall St; & ALL “corps” working unitedly to DELIBERATELY CREATE and cause what is going on “today”: BACKED by corrupt judges: who “call” to find out how to “rule”:
This corruption known as “democracy” NOW wants slaves in every nation;
By rockinrobin, September 28 at 12:39 am #
(Unregistered commenter)
It is not GOING to be “facism” it is NOW; googling Monsanto & Rumsfeld over 1,750,000 hits; the main “we are a force 4 good” has been called the ‘worst despot the world has seen” by Kissinger, who is right along side him & Rockefeller; Monsanto & Dow own the pharmacuticals: & their names are interchangeable with Bush/Clinton/Rockefeller; http://www.microcosmotalk.com: “canola oil” made from rapeseed GENETICALLY MODIFIED to CAUSE slow mentabolism/weight gain/high blood pressure; yet MEDIA maniputlation claims “good 4 u”; also used in newspaper ink/printers ink/book ink/& to make vinegar & “plastic containers’;
Report thisAsparteme containing FORMALDEHYDE causing nervous system disorders & more: Rumsfeld: all through out the “food chain” in USA: behind the “world council” is Rockefeller, Rumsfeld, Bush & Clinton;
In the USA, you are not recognized nor have any rights until you are a CORPORATION.
By Night-Gaunt, September 26 at 7:53 pm #
Good luck John Crandell the system has been so perverted and closed off both inside and out to keep that from happening. If it can be done we might yet have a chance to stop this express train to the hell of a fascist state yet. But I am not holding my breath. All the parties need to get together and field their own mixed candidates backed by big money or they won’t have a chance.
They must find the common denominators between them or else. Fractionalism is promoted and supported by those who wish to leave us to their version of Heaven on Earth. It will be hell to us.
Report thisBy john crandell, September 26 at 7:09 pm #
The hell with Obama/Biden. Lets elect Al Gore and Michael Moore in 2012. GORE AND MOORE: the Repugs will love that, then hate it. I can’t wait to see the movie.
Report thisBy MarthaA, September 22 at 12:53 pm #
Capitalism feeds upon Socialism in a “Tantalus Cycle” that both originated and maintains Capitalism; a “Tantalus Act” originated the “Tantalus Cycle of Capitalism” by way of the “enclosure movement” and a “Tantalus Cycle” maintains Capitalism by way of periodic corrections of “socialized responsibility for privatized benefit”; the efforts, property, and possessions of the 70% MAJORITY Common Population were expropriated by government from the 70% MAJORITY Common Population of Great Britain to start the Capitalist “Tantalus Cycle” and were fed back to the 70% MAJORITY Common Population as wages as a means of obtaining the necessities of life in exchange for labor, and the Capitalist System is maintained to this day by periodic corrections where the efforts, property and possessions of the 70% MAJORITY Common Population of the United States are expropriated by government from the 70% MAJORITY Common Population of the United States and fed back to the 70% MAJORITY Common Population of the United States as wages as a means of obtaining the necessities of life in exchange for labor.
This “Tantalus Cycle” provides obscene benefit to those who control the “Tantalus Cycle” and provides only the meager means of marginal existence to those who are subject to the “Tantalus Cycle”.
It is time for a change. It is time for an end to Capitalism being maintained by a “Tantalus Cycle”. “Capitalism lives upon SOCIALISM”, like “mistletoe on a tree” and it is time for the tree of the 70% MAJORITY Common Population as a Class and Culture of the United States to share in the benefit of Capitalism; rather than to be fed upon by the “mistletoe of Capitalism” without benefit from the parasitic infestation, and be locked into a perpetual “Tantalus Cycle” in support of obscene benefit for the Capitalists who control the “Tantalus Cycle” and “wage slavery” for those of the 70% MAJORITY Common Population who are by legislated law and order made subject to the “Tantalus Cycle”.
Report thisBy KDelphi, September 21 at 3:42 pm #
The “bailout” was a huge swindle by Capitalist Opportunists who knew that Bush Jr was a asshole who had f*cked “neo-con” Capitalism for a long time, so they wanted to make sure that they got their last dig of work-free money.
Little did they know that the need not have worried about Obama and the Dems , who are only to happy to give Wall St, the military industrial complex, the medical industrial complex and the Banksters mafia all the free Capital that they want, as long as there is quid pro quo.
Report thisBy Night-Gaunt, September 21 at 3:31 pm #
We are in a Great Depression, not unlike the one that started with the Credit Crisis in 1873, and it could be very bad considering all the violence and martial law that was declared. (It lasted till 1892.) We don’t need to follow that rout.
We need people like William Black to be leading the way to understanding then cleaning up this mess before our way of gov’t falls. That would be a terrible thing for all of us.
We are in a very dangerous position. One I believe was done on purpose for the very reason of removing our Republic in order to set up their own theocracy right here. We need to stop their plan of economic destruction before it is too late. It is in our hands for only a little more time.
Report thisBy MarthaA, September 20 at 8:03 pm #
A NEW MODEL For “FREE Enterprise Capitalism”
Are Capitalists necessary to a “Free Enterprise Economy”?——Or, is access to capital the only requirement of a “Free Enterprise Economy”? Could capital be rented, leased, or mortgaged to entrepreneurs in a socialist economy? “Socialized responsibility for privatized benefit” guarantees and supports “private capital” to prevent periodic and cyclical FAILURE of capital; capital in a “Free Enterprise Economy” is provided and maintained by “socialized responsibility” and could be better maintained by “social institutions” than by “private ownership” that has demonstrated a cyclical inability to maintain capital in the absence of “socialized responsibility”.
It is a demonstrated fact by the repetitive cyclical failure of capital, as a result of repetitive cyclical collapse of the business cycle, in a “Free Enterprise Economy” that the “Free Enterprise Economy” is dependent upon repetitive and cyclical socialized rescue and that a “Free Enterprise Economy” would be more stable, if the capital required to fuel the economy was maintained by a socially owned and operated central banking structure, and capital was rented, leased, or mortgaged to entrepreneurs subject to a lien against their assets. In this way those who use capital for privatized benefit would lose their assets if they made irresponsible bets in business and industry and would not require “socialized responsibility” to subsidize “privatized benefit”.
Report thisBy MarthaA, September 20 at 8:00 pm #
A NEW MODEL For “FREE Enterprise Capitalism”
Are Capitalist necessary to a “Free Enterprise Economy”?——Or, is access to capital the only requirement of a “Free Enterprise Economy”? Could capital be rented, leased, or mortgaged to entrepreneurs in a socialist economy? “Socialized responsibility for privatized benefit” guarantees and supports “private capital” to prevent periodic and cyclical FAILURE of capital; capital in a “Free Enterprise Economy” is provided and maintained by “socialized responsibility” and could be better maintained by “social institutions” than by “private ownership” that has demonstrated a cyclical inability to maintain capital in the absence of “socialized responsibility”.
It is a demonstrated fact by the repetitive cyclical failure of capital, as a result of repetitive cyclical collapse of the business cycle, in a “Free Enterprise Economy” that the “Free Enterprise Economy” is dependent upon repetitive and cyclical socialized rescue and that a “Free Enterprise Economy” would be more stable, if the capital required to fuel the economy was maintained by a socially owned and operated central banking structure, and capital was rented, leased, or mortgaged to entrepreneurs subject to a lien against their assets. In this way those who use capital for privatized benefit would lose their assets if they made irresponsible bets in business and industry and would not require “socialized responsibility” to subsidize “privatized benefit”.
Report thisBy haroldmh, September 19 at 3:39 pm #
(Unregistered commenter)
MarthaA,
You are 10% off; “no inflation-adjusted growth in income in 30 years for the bottom 80% of earners, and an actual decline in the last ten” according to the Census Bureau.
Report thisBy MarthaA, September 19 at 12:40 pm #
Capitalism, like Tantalus http://www.in2greece.com/english/historymyth/mythology/names/tantalus.htm, kills the 70% Majority Common Population with “Wage Slavery”; serves the 70% Majority Common Population back to itself as food, and testifies with sociopathic capitalist sincerity, sophism and legions of Capitalism’s ‘strawmen’, that what Capitalism serves to the 70% Majority Common Population is otherwise.
By “socialized responsibility for privatized benefit” Capitalism kills and serves the 70% Majority Common Population back to itself; the proof of this is the so called “business cycle” that is dependent upon “socialized responsibility for privatized benefit” that has been a part of Capitalism, since the origin of Capitalism, and the most egregious proof is the bailout of the banksters and the insuransters in 2008 and 2009 by Comrade Bush with the selective use of Corporate Communism.
The color taken by the Republican Party is “Red” and the color taken by the Old Soviet Union as a self-identified Communist nation is “Red”; the Republican Party used to say that it was better to be “Dead” than “Red”——now the Republican Party identifies themselves as “Red”.
The Republican Party is a commune of “Corporate Communists” that have taken on the colors of the Communist Party “Red” as Corporate Communists; this will be denied with “indignant sophist outrage” in the Right-Wing “reflexive media echo-chamber” by “reflexive sophist analysis “ that is all sound and fury signifying NOTHING other than sophism spewed by Capitalism’s sociopathic “strawmen” justifying “socialized responsibility for privatized benefit”.
The United States is ruled by Corporate Communists; Communism for the few, “Corporate Communists”, at the expense of the many, the 70% Majority Common Population of the United States is not acceptable. Communism is the “standard” being used by Capitalism and the United States is a self-proclaimed Capitalist Nation. The United States as a Nation that employs Corporate Capitalist Communism for the few, must expand the base of Corporate Communism from Communism for the few, “Corporate Communism”, to Communism for the many, that is inclusive of the 70% Majority Common Population of the United States, rather than to continue to be exclusive Communism for Corporations.
Report thisBy BlueEagle, September 18 at 2:59 am #
Has the Fed been abolishded yet? How about an audit? 290 co-sponsors on HR 1207.
Report thisBy JohnMcD, September 13 at 2:03 am #
Totally agreed about the bailouts, Fenwick. Just imagine if all those banks who held funny mortgages had been allowed to fail. The company who holds my mortgage couldn’t pay THEIR debts, so the government did with our money and handed the assets like my mortgage over to another bank (who also took a bunch of money from the bailouts.) Guess what happens if I stopped paying my debt? The bank would get the house and the sheriff would get to kick me out on to the street.
There’s such a huge double standard developing when it comes to responsibility for debt. I think China is even figuring this out, and it could influence whether or not they make the decision to drop out of their derivative contract “responsibilities.”
They say all of this was supposed to restore confidence and return us to economic growth. Who out there feels more confident and wealthier than they did this time last year?
Report thisBy FENWICK, September 10 at 11:17 am #
The bailout was a hoax, a robbery. See Amy Goodman on Democracy Now! today (9/10) and her coverage of the article in Vanity Fair by Barlett and Steele.
How long can middle level Capitalists carry on this facade with little questions of minutiae of the market place?
Face the facts you disembodied clods!
Report thisBy Stock Market Trading, September 10 at 12:29 am #
There are a lot of action in the stock market and I would really like to read one of your posts about it. Also, I would like to read your insights about the latest market trends and what companies are doing well in the market. Some updates in the credit and debt issue is also nice.
Report thisBy Stock Market Trading, September 10 at 12:24 am #
There are a lot of action happening in the stock market today and I would like to read on of your post about it. Also it would be nice to read your insights on the latest market trends and which companies are performing well.
Report thisBy gerald4, September 4 at 2:47 pm #
It irritates me when someone refers to Banking, Stock Trading, Insurance and other financial businesses as “industries”, since they do not create anything, except worthless toxic asset financial paper “products”. The Wall Street Stock Exchanges and Banks are essentially corrupt and should be allowed to close in Bankruptcy. Wall street is too corrupt and inept to be salvaged. Stocks should be delivered to the registered owners.
US Corporations should abandon Wall Street, buy and sell their company stocks themselves, and then allow new stock brokerage firms to slowly be created and evolve with tighter regulation and more penalties to prevent future Wall Street type criminal atmosphere of entitlement.
The various public traded corporations could buy, sell and/or trade their own stocks until new trading exchanges slowly evolve, preferably in cities other than New York City with less of the prevalent criminal culture of Wall Street.
Houston, Atlanta, Dallas, Chicago, or some other different location might be a better location for a clean new start. New stock trading exchanges could evolve with new and different rules and regulations that would prohibit the criminal excesses of the Wall Street Master Criminals.
Recently created financial products such as CDOs, SIVs, ABSs, SPVs, VIEs, CPDOs, SiVs, derivatives, and other similar new “toxic asset products” created by wall street master financial criminal geniuses that create junk bond type paper securities out of the thin air should require separate application and license by the SEC for the existence of each new product, and the SEC should grant license only to any of them that have intrinsic collateral value, are easily understood, transparent, forthright, and not deceptive in their sworn financial statements. Most of the recent financial innovations are similar to cancer, because they grow, multiply and then destroy the economic foundations of the economy. The SEC should also require a study to justify the need and safety of any new derivative type instrument created, similar to an Environmental Impact Statement.
When the investment risks are several generations or several layers removed from the instrument that has the actual collateral value (like a mortgage), and this instrument is insured from most of the investment risk, how much due diligence will an investor perform before he will commit to purchase, as compared to the investing into a primary mortgage or similar instrument that is collateralized for the event of failure?
If I were driving a car without insurance, I would probably drive more carefully than if I had insurance since my exposure for loss is lessened with insurance.
Report thisBy FENWICK, September 3 at 11:34 am #
Thom Hartmann reported that the three largest industies in the US are as follows: military armaments, insurance and fiancial. Kevin Phillips noted in his book, “Bad Money” that financials passed manufacturing in the last 20 years.
Economically, military spending is inflationary. It leads to no furtherance in production except the blowing up of itself.
In light of the string on reports on what Wall St. is doing with their new found largesse, all one can ask is what they’ll do next is, “What’s the worst they can do?” and take my word, they’ll out do it and surpass it.
There’s an old Greek saying, “If you work for someone, you’ve got one ball. If you work for someone who works for someone, you’ve got no balls.”
These people do NO work and idle by for a myriad of ideologies and a mistaken belief that wealth makes might right. They suck and they drain. Their predatory.
What happened to, “Elections have consequences.”? Follow the votes. Who votes for a compromise and who doesn’t. This travesty in the drive to reach a compromise for health insurance can only end in a debacle.
Fuck ‘em! Survive.
Report thisBy KDelphi, September 2 at 12:37 pm #
Shirley—as garth says, we need an overthrow of the govt.
there is no “one” to save us. We have to save ourselves.
We dont need to necessarily “follow” anyone else’s form of govt, although the Socialist Democracies seem to provide the best standard of living for their people. It may not be sustainable , on a planetary level.
What happened to the ole “merkins exceptionalism”?
Report thisBy vijay, August 29 at 9:55 am #
(Unregistered commenter)
Just hoping to see when the recession ends soon
Report thisBy FENWICK, August 22 at 9:16 am #
Last night (Friday, Aug 21) on PBS News Hour, the economuic reporter, Paul Solman, said that the Fed had loaned money to the banks at almost zero percent interest and that the banks were depositing the money bank into the Fed at a “fraction of a percent interest.”
Paul Solman lied. The Fed is paying about five (5) percent interest.
This news has been out there for quite some time. Thom Hartmann reported the correct interest rates about a month ago. I’ve talked to people at job fairs and they know the story and the correct numbers. So I have to ask myself, why did Paul Solman lie? Doesn’t he care about his reputation? Isn’t accuracy one of the tenets of reporting? Maybe PBS has their own guidelines. Maybe we’re all going to hell in a handbasket.
Thanks, Paul. You asshole.
Report thisBy Shirley Zempel, August 11 at 4:47 pm #
(Unregistered commenter)
While I agree with much of what Chris Hedges says in his article “Nader Was Right: Liberals are Going Nowhere with Obama” I don’t believe it helps to berate Obama and all those who are doing the best they can. Nowhere does he propose someone who can tame this cock-eyed political system we have. In order to get any change in government a leader must have the majority of the Congress supporting him and not have to put up with wild-eyed extreme right wing zealots screaming and putting hundreds of millions of dollars into organizing opposition and commercials. It seems the reality is that the good guys don’t necessarily do what they would like, but what they can. I ain’t easy.
I wish there was someone who is electable that would come into office and do those things that would make us all happy. For one thing, it would take an entirely new system of governing and a grand re-education of the public, and eliminate the impact of the PACs and Corporations.
All of you naysayers, who do you suggest to fit the bill? I’m not expecting any cogent response. The best we can do is to all organize (if we can agree or any point) much like in the late 60’s and make our own dramatic changes. Not moan and groan about a leader who is doing the best he can.
Report thisBy garth, August 7 at 12:46 am #
turbamagna, I agree with you 100 percent.
I fear that the problem, as it now stands, is that we have a completely fascist government.
We are not going to get single payer, or even a worthwhie public option. Obama just gave in to Tauzin and the drug cartel. We’ll be paying through the nose for years.
We can vote and get involved, but that change might take years.
We need an overthrow of the government as the Constitution says.
I say for those of us who are older than sixty to strap on a bomb and, like Churchill said, take a few of them with you.
Report thisBy turbamagna, August 6 at 11:44 pm #
Any argument that universal healthcare cannot be implemented in an intelligent and viable manner for all Americans is completely mendacious, disingenuous and indicative of a corrupt and diseased agenda.
As an example, look at the system that Taiwan established some ten years ago;
http://content.healthaffairs.org/cgi/content/full/22/3/77
Taiwan is not alone. Australia has Medicare; its Federal Government is currently examining the viability of implementing dental care as an adjunct to its current universal healthcare structure (supplemented with optional private healthcare insurance).
New Zealand and many European countries also have adopted universal healthcare, financed by moderate taxation, again often augmented with options provided by healthcare insurers.
It is astonishing that a county as wealthy as America appears so unwilling to instigate similar reform. However, it appears that certain vested interests stymie attempts at reform.
Completely devoid of any humanity, it would appear that these devious, parasitic, corrupt and vile interest groups masquerade as human beings only by virtue of base physical appearance.
It is obvious that they belong to another species – personified by inhumanity, rabid self obsession, callous indifference and other sociopathic tendencies (ditto their unholy brethren – the Bankers).
These cunning ones, these dwellers lurking in the shadows of humanity, cursed by their very nature and marked by their diabolical reptilian cunning, feed vampire like upon an unsuspecting and perhaps deliberately uneducated populace.
Report thisBy garth, August 1 at 2:02 pm #
The second part of Thom Hartmann’s report was equally amazing. Elizabeth Warren reports that the banks bought back the warrants from the Treasury for sixty (60) cents on the dollar.
Report thisGeithner is quite an investment wizard. He took the taxpayer’s dollar and turned it into 60 cents in just few months. What a guy!
By Harold, August 1 at 10:58 am #
(Unregistered commenter)
The total potential federal government support could reach up to $23.7 trillion,” says Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, in a report released today on the government’s efforts to fix the financial system. Yes, $23.7 trillion. “The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn’t even imaginable,” said Rep. Darrell Issa, R-Calif.
The article goes on to point out the near $24 trillion figure is the worst possible case. Nevertheless, whatever the final cost to the taxpayer, it is certain to be huge and unparalleled by anything in our history; more than the New Deal, WWII, the Marshall Plan, Vietnam, or the current Iraq-Afghanistan wars, for example.
And we worry about the pirates of Somalia. The largest pirate ship ever built is our own Ship of State. But water pouring in through the hole in its hull now seems to be approaching its bilge pump capacity. The Ship of State may be in danger of sinking.
Report thisBy garth, August 1 at 10:14 am #
Thom Hartmann reported that the Fed has lent the banks trillions at no interest. The banks turned around and, instead of lending it, have deposited it back into the Fed at five percent interest. And that’s where it is staying.
Report thisBy freedom loving american, August 1 at 2:18 am #
Good work, Thank You!
Report thisBy gerald4, July 30 at 6:25 pm #
Real wealth and real monetary value is created only when an individual or a family grew and harvested something from the earth, extracted something of commercial value from the earth, provided services (medical, dental, engineering, technology, etc.), and/or made (manufactured or constructed) something that is consumable (or useful), and then sells these items to parties outside of that family in return for a net transfer of gold or currency from other parties to that family. The members of that family reflect their real wealth with the accumulation of grain, gold, cattle, jewels, land, commodities and/or other marketable products for reserve use in times of emergency and/or also to raise the standard of living for the members of that family, A country and its citizens prosper or become debt ridden in accordance with their industrial behavior and actions.
The people in a country that grew and harvested something from the earth, that extracted something of commercial value from the earth, that provided services (medical, dental, engineering, technology, etc.), and/or that made (manufactured or constructed) something that is consumable (or useful) and was then was sold outside of that country in exchange for foreign grain, gold, cattle, jewels, land, commodities and/or other marketable products from other parties outside of that country created wealth for that country from the currency received from the sales of those services and products, and this increased the real wealth of that country that could be used in times of emergency and/or also to raise the standard of living for the members of that country.
The USA has almost entirely ceased to generate wealth for future US generations. Instead the USA has elected to sell or export title to US wealth including real estate, farms, agri-businesses, food supplies, dairies, forests, industries, breweries, hotels, factories, casinos, financial institutions, retail businesses, and most other assets located in the USA in order to pay people in foreign countries to manufacture the things that US citizens consume, and also to pay for US government expenses when the expenses exceed the taxes raised by the government. The USA government is selling our means of creating future wealth to pay for imported products that US citizens consume and US government expenses.
Report thisBy Joe, July 14 at 12:01 pm #
(Unregistered commenter)
Thanks,garth and haroldmh.
The reason I ask is I believe it is true that in mid March 2009, the FDIC ordered the Crain Company to print $1.2 trillion in new money so the FDIC could deliver this hot off the press currency to in trouble banks to improve their balance sheets.
If this is so, it seems to me the absurdity of the current Fed approach to the financial crisis comes clearly into view for all tax payers.
Absurdity: If it’s ok to print $1.2T to bail out the banks, why not print and additional $1.2T and pay everyone’s 2008 income tax? Give total refunds to everyone and cover it with a new $1.2T run from the Crain Company. Think how happy every taxpayer would be! People would start spending again. The economy would surely come back to life. How about it?
Thanks for all the info, Joe
Report thisBy garth, July 13 at 1:30 pm #
Thank you, haroldmh.
Report thisBy haroldmh, July 12 at 8:01 pm #
(Unregistered commenter)
Garth, Joe
Broken down as follows:
Estimated receipts for fiscal year 2009 are 2.7 trillion(+7.1%).
* $1.21 trillion - Individual income tax
Report this* $949.4 billion - Social Security and other payroll taxes
* $339.2 billion - Corporate income tax
* $68.9 billion - Excise taxes
* $29.1 billion - Customs duties
* $26.3 billion - Estate and gift taxes
* $47.9 billion - Other
By garth, July 12 at 7:10 pm #
Joe,
According this website, the total is 2.6 trillion.
http://www.warresisters.org/pages/piechart.htm
Report thisBy garth, July 12 at 7:10 pm #
Joe,
According this website, the toal is 2.6 trillion.
http://www.warresisters.org/pages/piechart.htm
Report thisBy garth, July 12 at 7:08 pm #
Joe,
According to this website the total is 2.6 trillion.
http://www.warresisters.org/pages/piechart.htm
Report thisBy liecatcher, July 12 at 4:48 pm #
It’s meaningless to talk about economic problems & or
Report thissolutions without acknowledgeing the political forces
that are at work. Specifically the FASCISTS & THE NEW
WORLD ORDER/ONE WORLD GOVERNMENT CABAL. A good starting
point would be the ROTHSCHILD’S BANKING DYNASTY,its
connection with the BANK OF ENGLAND,& then moving along
to the passage of THE INCOME TAX LAW & the FEDERAL RESERVE ACT ON DECEMBER 23,1913. By creating wars &
financing both sides, massive amounts of debt have been
created & this debt gives control to the banks. What
might look like the FED GONE WILD during the first half of the year to some people is actually a very
carefully orchestrated plot to bankrupt AMERICA,
destroy its economy & convert what’s left into England’s biggest colony, just the way California was
destroyed. With millions of jobs gone forever,the
population in a debtor’s abyss,a FASCIST in the White
House, & nobody to represent Main Street, enslavement
is upon us.
By Joe, July 9 at 10:38 am #
(Unregistered commenter)
Is it true that the federal government’s income from all taxes it collects is about $1 trillion/year? Thanks, Joe
Report thisBy samosamo, July 7 at 4:29 pm #
If something cannot go on forever, it will stop.
—Herb Stein’s Law, first pronounced in the 1980s
Report thisBy samosamo, July 7 at 4:07 pm #
Far be it for me to say what is what in this ongoing financial terrorist attack on america but even the msm such as msnbc will put stuff out for most to read or see or hear that bear consequences that are not good indicators of a healthy economy despite how much those ‘best and brightest’ profess to the ‘improvement’(gaged as how well the stock market is or is not doing) or soon to be ‘recoverying’ economy, and here I list some I found today:
This has to do with hotel occupancy rates being lower in hawaii and I am sure else where, people just can’t afford to be tourist:
http://www.msnbc.msn.com/id/31776541/ns/travel-news/
This one has to do with housing and moving:
http://www.msnbc.msn.com/id/31666870/ns/business-stocks_and_economy/
This one, well, speaks for itself:
http://www.newsweek.com/id/205522
As stated, these are some of the tidbits that show a dying or failing economy brought on by those we ‘know to blame’ for this financial terrorist attack on us taxpayers and it is all accummulative.
Report thisBy garth, July 7 at 2:07 pm #
Angst and Mafia-like tactics are the terms.
But may I explain.
This government has been taken over by the shemgolozine. (A new vocabulary has to be introduced here. The shemgolozine are a group of humanoids who still believe in the ideas of human nature and existence like that of Desctartes and his pronouncemet, “I think, therefore, I am”. He never derived how anyone else existed.)
These so-called “people”, these purveyors of superficial goals of high IQs, High SAT test scores, admittance to ivy league schools and so forth need to be curtailed. Their wars need to be ended.
There are after all, the rest of us.
They have infiltrated the society. Me and you and everyone like us. Like a woodworm, they started in the intelligence community and branched out to the media. Now they have hamstraggled (nw) the nation as a whole.
The corprate CEOs behaved as expected, Like the mafa, they think of the person only in terms
of whether or not he or she is a “good earner”. Can this person fill a need and can he or she (or it, in their terms) bring in or save us money?
Now, they have taken over the whole schmeckis (again, a new vocabulary has to be introduced to hope to cover the macabre pathology of this group).\
Sarah Palin is prepping for a third psrty run. We should declare that we are not like that. We should hold the results of the reliable polls to their faces and demand that we are citizens of the United States and we demand our Rigths.
Life , Liberty and the Purfiut of Happineff.
That’s All folks!
I hear you KDelphi. All I can say about the NE is that the, “rains came.”
I try to look at it as an extra growing season, maybe.
But reality, I could with no guilt shoot everyone of those bastards in the back of head three times and sleep well.
Report thisBy rockinrobin, July 7 at 2:18 am #
(Unregistered commenter)
remember the AMERO, folks? they want to REPLACE the DOLLAR backed with SILVER. EXPLOITATION IS A CRIME: yet, folks REFUSE to LISTEN or ACCEPT that THIS IS A CRIMINALLY RUN ORGANIZED CRIME GOVERNMENT: made up of BULLYS and TYRANTS: run it “just like a large plantation”, said one senator in the 50’s; Geraldo Rivera: “they” have not yet decided if the blacks or browns will get the roofing jobs;
Report this“there out to be a LAW?” THERE IS FOLKS! Laws are written for the BOOKS, NOT to be ENFORCED! When the LAWMAKERS are LAW BREAKERS: when they TELL the PEOPLE of the NATION that WHAT THEY ARE DOING IS CRIMINAL: and the PEOPLE DO NOTHING:
When PERSONAL PROFIT & PERSONAL GAIN is the WAY THIS NATION OPERATES: and they HAVE TOLD THE PEOPLE THAT REPEATEDLY: why is ANYONE SUPRIZED when they RIP the PEOPLE OFF INTENTIONALLY?
The “money” didn’t DISAPPEAR: it WENT INTO THEIR POCKETS: when PEOPLE of the NATION UNDERSTAND: $900,000,000,000.00 is POCKET CHANGE to these folks; and they want to STOP being VICTIMIZED and TERRORIZED by TYRANTS and BULLIES: why, you MIGHT ACTUALLY have A GOVERNMENT that WORKS! and oh my wouldn’t THAT be SWEET: a JUDICIIAL SYSTEM that OPERATES by LAW instead of CRIME!
By KDelphi, July 6 at 5:32 pm #
Sounds too familiar, garth…and that’s the problem…there are neither the well-paying jobs nor the time to make this stuff up.
If we want it back , we will have to take it. Obama is not going to “get it for us”.
But how?
If not, Banana Republic, which should be “fine” as, if that “climate change bill” is the best Congress can do (putting most of the expense on people instead of the polluters) I should be able to grow bananas here in Ohio really soon!
The state is already operated like a Third World country.
We let them give it all away..it was unsustainable, but, they’ll keep it just the same…
Report thisBy garth, July 6 at 4:20 pm #
I talked with a retired woman last week who told me that she lost $300K in hers and her husband’s retirement account. Sounded like nearly all of it. The manager of her acount was an agent of Merrill Lynch. She said she’s going to take the advice given to her by experience and that she’s going try to just get back to even and then get out of the stack market and stay out.
Report thisI told her of an experience I had when I was working and contributing to a 401K. The company switched the fund’s manager to Merrill Lynch and after a few short months of Merrill Lynch’s way of doing business, mainly sell, sell, sell and live off the droppings of Citi and Goldman Sachs, the company cancelled the contract and moved to another broker. Before the company could let everyone know what was being done, however, Merrill Lynch sent out notices to all the people in the fund telling them that their balances were zero, nada, zippo.
Everyone panicked and called the fund manager, I think it was Met Life, to find out what the hell was going on. The manager had to handle all the calls and allay everyone’s fears. Needless to say, they were royally pissed at the boys at Merrill.
One positive note about this woman was that she cancelled her Capital One card. It was one bad experience too many. Apparently she was hooked by their goofball tv ads and reeled in by some flagrant sales pitch.
I hope she gets her money back, but I don’t think there’s enough time.
I heard that the Japanese do not get screwed like we did because they make no pretense that there is no insider trading and therefore, no laws against it. In other words, they don’t try to sell the stock market as anything else than what it is. If one invests, it’s caveat emptor.
By KDelphi, July 5 at 12:18 pm #
samosamo
; )
Report thisBy samosamo, July 3 at 8:32 pm #
By KDelphi, July 3 at 4:47 pm #
Why is Wall St necessary at all?
***************************************************
Simple, IT ISN’T!, except to pass the cash to those who don’t ‘produce’.
Report thisBy KDelphi, July 3 at 4:47 pm #
Why is Wall St necessary at all?
Report thisBy azouz, July 3 at 2:45 pm #
This is the result of the sum of several people and organizations mistakes. When you add up many errors it becomes a mess and a catastrophe as we have seen.
I hope everybody understands their mistakes. We need to make the right decisions to avoid that in the future.
Trading software
Report thisBy KDelphi, July 1 at 3:50 pm #
everybodynobody—Yes, I guess I should stop “waiting”..sigh..if it gets worse (as it looks to, with neo-liberal policies like the faux cedit card bill and “health care reform” written by the insurance industry), maybe I’ll have a go at it myself and take someone from Wall St with me…they’re taking down people around here everyday…the faux “regulation” is a joke, too.
Geithner regulating Summers…now that will work!
Report thisBy r.riley, July 1 at 11:27 am #
What about regulators? auditors? Financial inspectors? Wall Street needs its books checked and rechecked seasonally. Just like a patient who needs a doctor to guide financial meltdown would’ve been prevented if the chemo epidemic didn’t go out of control.
Regards,
Report thisRobert
By everynobody, June 7 at 9:54 am #
(Unregistered commenter)
By doublestandards/glasshouses, June 6 at 7:00 am #
(Unregistered commenter)
Thanks for the link. For me, not a lot of new info, but rounded out the big picture. Great video. My greatest disappointment is the American people; it seems they will endure willingly, the abuse heaped on the citizens of third world countries, whose people are willing to die to gain their perceptions of the freedoms we treat contemptuously and will not even fight for, any more, at all. We act like beaten dogs who cower in dark corners.
Report thisBy garth, June 6 at 7:36 pm #
I think it’s time we started measuring the rope.
Report thisBy doublestandards/glasshouses, June 6 at 7:00 am #
(Unregistered commenter)
I don’t know if anyone here has linked to this documentary but it explains how bankers have enslaved
Report thisthe world by creating a system of money as debt:
http://www.documentary-film.net/search/watch-free.php?&ref=189
By Hawkeye, June 3 at 7:59 pm #
REF: AT!
Sen. Schumer seems to have had an overdose of Prozac today. He finds all of this hilarious. He is calling for the close of business for the day so the “tobacco regulations” amendment for larger warning labels on cigarettes etc.
Regarding The Fed, gee whiz AT, it is pretty darn important when it comes to Trillion dollar bailouts, unemployement and jobs, interest rates, you know, stuff like that.
OMG!
Report thisBy KDelphi, June 3 at 1:57 pm #
Well, from what I know,. Bernancke told Kaptur today, that the Fed had “possiblly” signed some agreements with BlackRock which is giving kickbacks to Larry Summers.
He also said that he sould NOT go along with measures to make the Fed more democratic…..
Report thisBy At, June 3 at 8:51 am #
(Unregistered commenter)
What does the Federal Reserve bank have anything to do with this?
Report thisBy Hawkeye, June 2 at 10:51 pm #
Keep chipping away at them.
These puppet politicians have one great weakness. That is that their sponsors must have enough customers to keep the registers ringing. Unless the traffic picks up in a few months, the overhead will cut into their wealth and peace of mind.
Chip away at them and never feed the beasts until the yield. They must agree to a proper healthcare program, a simple and transparant arrangement or nothing at all. Healthcare insurance was unheard of, not that long ago. We will survive but the won’t. If they turn their brown shirts loose on us, we are many and they are few.
If you are feeling weak or depressed, when push comes to shove, we are millions and they are very, very few. Chip away, starve these beasts and keep your powder dry.
Report thisBy KDelphi, June 2 at 1:15 pm #
garth and hawkeye—thanks for support…the lack of single payer is the main reason I am afraid to return to work…it is NOT “saving” anyone “money” and it is running my life instead of me!
Hawkeye—see, that is the prob, though, no offense intended—-you didnt care , until it effected you—-we have to get past that. NOw I had a heads-up from working with clients (or trying to…). When it happened to me, I KNEW I was gonna be screwed! I clung to my COBRA as long as I could, paying up to 180% of my unemployment (had to borrow), until they just dumped me…then, it took 3 yrs to get on Medicaid, and, when I did, the attorney took all my back payments..I cannot describe to anyone how horrible this has been…but, I saw many go through it before me with fewer family and resources than I had…many just died.
It is MUCH worse than the accident itself!! MANY could be back to work if not terrified that they will have another medical problem, so they are terrified to try to do anything!
No, it doesnt quite feel like rape, it feels more like being asked to pay for the rape kit exam afterwards and having to put it on you MasterCard…..
Here is the Mass. Plan:
http://www.pnhp.org/news/2009/february/massachusetts_plan_.php
Why it is not the answer: “By mandating that uninsured residents purchase private health insurance, the law reinforced the economic and political power of health insurance firms. Thus, the reform augments the already high administrative costs of health care. Moreover, the agency that administers the new law (the “Connector”) adds an extra 4 to 5 percentage points to the already high overhead of private health insurance policies”
“...It will be a plan built on our uniquely American, dysfunctional, fragmented system of financing health care. But it won’t be like the Massachusetts plan that was developed in a wealthy state with greater health care resources, and with fewer financing problems than the rest of the nation. No, it won’t be like Massachusetts. It will be much worse… much, much worse”
Further, 64% of USAns support a single payer plan now.
So what can be the problem? Well, they call it Capitalism…as long as the majority , in both parties, care more about money than they do the ‘Merkin people, this is the garbage that we will get.
If we get this crappy reform, in 2010—throw the buns out , and, demand an opposition party..we could start manning the barricades now….?
Report thisBy garth, June 2 at 11:25 am #
KDelphi,
Your post reminded me of someone I knew in high school who went into business for herself and bought her own insurance. When the Mass insurance plan was put in place, she opted for a plan not quite as expensive as the one she had had. It was less expensive, but not that much, about $100 a month difference.
Report thisThen, one day she was running to her car from her store to get something that had forgotten and she trip. She tore a ligament in her ankle and couldn’t walk. She went to the hospital and saw a doctor only to find out later that her new insurance, the Mass alternative she bought, didn’t cover that sort of injury.
She is now facing mounting medical bills and stands to lose her business.
I think that this new plan that the Democrats are peddling will turn out be like a GM warranty, 36,000 miles for the drive train and the one the auto insurance offer with huge decuctibles or a hefty premium.
We’ll be covered for injuries to the left pinky finger (not including band aids and aspirin) with a $50 copay.
Obama’s message hope was incomplete. What he said but was, “Hope and Pray.”
By garth, June 2 at 9:45 am #
Hawkeye and KDelphi,
Great posts. Thanks for the perspectives and the links.
I heard something on DemocracyNow this morning that mplied that the single payer backers are, at least, being listened to.
This alternative to single payer can’t pass. I think it would lock us into a one way trip to more of the same, in spades.
Report thisBy Hawkeye, June 2 at 5:25 am #
REF: KDelphi
Ten years ago I would have been strongly against single payer and a reform of the healthcare system more akin to Canada. Betwixt then and now, I have retired and have come to despise the system. Not only the mounting exclusions, copays and such, I have encountered one too many arrogant, inept, pompous health care “professional.”
Now, with this economic collapse, it is a whole new ball game. Some of these doctors consider themselves one-notch below God. They are an unnecessary and self-appointed priesthood that digusts me. There are exceptions to everything, generally. But it is not just me, the nurses know it. They have thrust themselves into politics and are regular advocates on mainstream television. As I type this, one of the top physician-advocates is speaking to Anderson on CNN.
No, we need Single-Payer reform and we need it quickly. I just wish someone could get the attention of younger voters who are struggling to hold onto their jobs and make the payments. They always find it hard to see the urgent need. They do not care so much about seeing doctors and doubt the immediate need. But there is another factor, it is how this huge industry affects the whole damn economy!
This class of people enjoy their place in society and are fighting to save their big piece of the pie. They fund the political puppets who, in turn, support them with inefficient, sometimes unaffordable, and below par healthcare.
If there was something like a tea party effort to sound the alarm that the likes of Max Baucus and his cohorts across the aisle are gearing up for a drive to rig up some kind of medicaid healthcare at the state level that will deprive and even kill people. They are cold blooded and self-righteous.
Please appeal to others to stand fast and block this next huge assault on the public just like the investment banksters have done. Is this what rape must feel like? I am not joking, Max Baucus’s leering face comes to mind.
Report thisBy KDelphi, June 2 at 3:58 am #
garth and hawkeye—this is one former social worker who is very glad to see so many supporting single payer…the “public option” is a farce. BaucASS is a crook, making $500,000, this year alone, from the insurance industry…
Support HR 676 for EVERYONE!!! Thanks..
BTW—my little sis has had breast cancer and they just raised her premiums , today, to almost $18,000 a year, and they wouldnt cover her chemo. My family is almost in bankruptcy paying for it. Is this any way to treat fellow citizens?
They are barbarians..no, wait, barbarians had more compassion…the “barbarians” in Denmark have single payer…I have been treated under it—it works. Very well, in fact. And, it works in Germany, Japan, France, UK, Canada…
More on the “public plan” scam:
http://www.pnhp.org/blog/page/13/
http://www.pnhp.org/blog/
“...So according to Sen. Baucus, a key to reform is “everyone having health insurance.” By that he means that everyone will have health insurance - except the 12 to 18 million who won’t. That’s “pretty good,” he says….
Under single payer, instead of assigning an insurance product to each individual, everyone is automatically provided the health care that they need. They provide only their identification when they access care. Those individuals that you “can’t find” in advance will still receive care when they show up with medical needs. In a single payer system, everyone means everyone - no exceptions.”
Report thisWHY do they think GM is bankrupt??!! 35% of the cost of every car is retiree health insurance…well, not anymore, thanks to Mr. Union Man President…
By Hawkeye, June 1 at 7:30 pm #
REF: GARTH
This reeking, rotten digusting shell-game the congress is running on us demonstrates these people have the compassion of a flock of buzzards.
The oozing gore and reeking smell doesn’t deter them, they will not hestitate to thrust their heads deep into the corpse and tear off another stinking morsel.
There is still some more tasty bits left on the bones, they will press hard on complicating and designing a Healthcare Package that will do them the most good.
I have long thought many of them were turkeys, now I think they are all turkey buzzards. One man like Ron Paul is delegated to the coat room.
But never underestimate the role Mainstream Media plays in this outrage. If ever an electorate had just cause to rise up, it is now!
GD their eyes.
Report thisBy garth, June 1 at 7:13 pm #
Hooray, Hawkeye!
I am in 100% agreement.
I heard that they, Baucus, et al, are about to pass a health insurance bill. It does not have a single-payer option, but they included some government sposnsored option.
This option might be a clear case of good being the enemy of the best. Drs. Himmelstein and Wolf on the Bill Moyers show explained how single payer is the best of all the options out there.
Now, I also agree that this Government option, if enacted, is going to break the bank.
The Massachusetts plan is doing just that. Ive talked to homeless people here and they are paying $40 a month for heath insurance. Can you imagine a situation where you could declare that everyone in your state, employed or unemployed, rich or poor, homeless or to manor born, had to pay you a fee or pay a fine?
Report thisNow, that is legislation. And it is going to complete the shipwreck.
By Hawkeye, June 1 at 6:42 pm #
REF: GARTH
Your earlier observation is something I have been thinking about:
“For the most important issue of the day, the economy, Obama passed the baton to Geithner and Summers, two students of the Rubin-Greenspan mold who want to continue to try to save a moribund economic enclave of the rich, powerful and, heretofore, unknown.”
I would really like more people to understand how the pillars of our society serving in the U.S. Congress are gearing up to attack us again. It’s the details of the developing Healthcare Package that Max Baucus and key Rep. senators that must be watched very carefully. At one time I would have strongly opposed Single-Payer. Not anymore, no they would carefully cherry-pick the citizens if they could. In fact, with a byzintinian package of laws and codes, that is exactly what the Baucus crowd are aiming at.
Hell, 20 years ago about the deductions from my check, 10 years ago it was alarming. They took and took and now the healthcare is so much worse. The crooks in congress serve this putrid healthcare industry, especially Max Baucus. I have had Canadian visitors every summer for many years. One old couple in their 80s are pretty damn healthy and have no major quarrel with their system. Rich Canucks can fly to Paris or anywhere else to get special care. Most Canucks do okay.
Two winning arguments for Single-Payer healthcare in USA is Simplicity and increasing competition amongst global drug companies and all the rest. Sen. Max Baucus and his buds across the aisle stand in the way of competition. They want to make it as complicated as possible. So fragmented and complex that you cannot tell what the hell to do.
Complexity for the sake of complexity and, thus, control and profits.
Report thisBy garth, June 1 at 3:37 pm #
Thanks to Hawkeye’s comment and a rereading of my post, I must correct the last statement. I meant ‘poke’ not polk.
But I can’t let this chance to jab at the Obama administration go by. The last sentence refers to the election of George W. Obama, “Let’s face it, we did not elect a Leader, we bought a pig in a ‘poke’”.
I guess, in a sense, with George, we knew what we were getting.
Thank you Hawkeye.
Report thisBy garth, June 1 at 1:05 pm #
Thank you, Hawkeye. I’ve enjoyed your posts, too. It was the last one that spurred me on to enter this rant.
Thanks again.
Report thisBy Hawkeye, June 1 at 12:58 pm #
REF: GARTH
Report thisWell said, Garth. Congratulations.
By garth, June 1 at 12:47 pm #
The real problem with this economic recovery plan, or any national economic recovery plan for that matter, is the lack of leadership. (Remember Ford’s WIN buttons, Whip Inflation Now?). In this particular incidence, we have Obama, hailed as the first black President of the U.S. with the concommitant expectations that that brings, but in reality, we have a skinny kid who is full of himself in a suit too big for him to fill. The whole issue to reiterate is one of leadership.
Report thisFor the most important issue of the day, the economy, Obama passed the baton to Geithner and Summers, two students of the Rubin-Greenspan mold who want to continue to try to save a moribund economic enclave of the rich, powerful and, heretofore, unknown. Whatever they said was good enough for him.
And more recently, he is allowing the Cyber Czar (the U.S.military) to determine the parameters of U.S. security and the Internet. He avers that he is for Net neutratlity, But can that can be considered anything more than what the likes of Ted Stevens said on the Senate floor (He’s the aquitted criminal and ex-Senator from the Alaska.) namely, that the Internet was a bunch of pipes?
I’m afraid, the good voters of the U.S. have elected another cheerleader.
True Leadership (caps intended), however, comes from knowledge from first hand experience of living the issues and deciding which side of the issue you agree with, not from posing for cameras from the Harvard Review, not from listening to advisers to whom you have acquiesced.
Let’s face it, we did not elect a Leader, we bought a pig in a polk.
By Hawkeye, May 31 at 9:49 pm #
Damn, I seem to agree with everybody on this thread!
1. AOE, axis of evil. Yep.
2. Why would they allow any reform. Yep.
3. Vancemark is the odd one, it is voters fault.
Wonder how long it will be until everybody around the globe will have their own H-bombs and missiles? That should bring it all to a conclusion, quickly enough.
The surviving primates can start it all over again. Hell, this really is “The Planet of the Apes!”
Unless we destroy ourselves, our overbreeding and destructive ways will destroy the whole planet. They just broadcast distractions and ignore the fundamental issue—greedy, aggressive apes.
Report thisBy KDelphi, May 31 at 2:35 pm #
samosamo—I would agree completely.
That is why it is NOT “amazing that an Af Am is president”..anyone can be, if they just cower to the bottom line…
Report thisBy Harold, May 31 at 10:53 am #
(Unregistered commenter)
Hawkeye, you asked,“Is the U.S. Congress all morons or are they all complicent and waiting for new orders?”
Silly question, obvious answer.
The Democrat Party, the Republican Party, and Corporate Elite form the Axis of Evil within the U.S.A. The Axis of Evil most frequently meet in the Halls of Congress; Congress is their primary tool. The Axis of Evil, through the two political parties, own the Presidential Debate Commission (PDC). Primary weapons of the Axis of Evil are “think tanks”, 35,000 Washington registered lobbyists, the PDC itself, cash in the form of political contributions to control Congress, and the availability of high paying jobs “when politicians are out of office”.
The PDC guarantees collaboration rather then competition between the Democrat and Republican duopoly to the exclusion of any opposing organization. The PDC assures the duopoly’s monopoly and perpetuity will not be defeated by ballot.
Thus, the Axis of Evil maintains its control of the many for the enrichment of the few. Obfuscation and deceit through media control, unfettered free market capitalism, and war are the primary methods used by the few to prevent their overthrow by the many.
Report thisBy Hawkeye, May 31 at 6:05 am #
REF: Dwight
I was just thinking about the stages in the development of our current “meltdown” when I suddenly thought of the Hiroshima strike.
The “Great Crash” of 1929 was unfathonable to the general population, although Kenneth Galbriath wrote a Pulizer Prize winner detailing how J.P. Morgan and others helped create the stock market bubble, escaped with the plunder before it crashed. J.P. Morgan, therefore, was able to buy U.S. Steel stock for chump change and was sitting pretty for WW2.
But nobody connected the dots and followed the money for many years. Previously, the robber barrons had their take on how to make money. Despite all the facts, these people rarely get indicted and punished. John D. Rockefellow and Commodore Vanderbilt died richer than Midas. Only a few come to mind that had a change of heart, namely, Andrew Carnigie. Today, Warren Buffet and Bill Gates are trying to think of what they should do. Toward the end, these immensely lucky fellows must all realize something is missing. Gates decides he should do good deeds and he gets a notion to save starving children around the world and hires a staff to see to it.
But there are some who are so hungry and greedy they never have any kind of awakening. It must be those like Joseph Stalin and these Wall St. investment bankers and their international associates crave more and more because it affords them more and more power. I wonder about the motives of those like Summers, Greenberg, Soros, and so many others. Even one like Bernie Madoff. It is about time to put these characters under the microscope and try and understand their motives. It goes way back, but even when those who are able, connects the dots a follows the money, superficial explinations of their motives need to be understood.
But, returning to the Hiroshima image, we do not need to comprehend quantum mechanics, nuclear chemistry and engineering to know what that mushroom cloud over Hiroshima means. Same for this “economic meltdown” and the years of pain, anguish and even premature death it will bring. And, yet, look at the steely-eyed expression on Summer’s face and ask yourself, why he is working closely with President Obama, Rahm Emanuel, Tim Geithner and the Goldman Sachs “recovery” team. Why are these villians still ruling over us? Is the U.S. Congress all morons or are they all complicent and waiting for new orders?
Report thisBy Hawkeye, May 30 at 11:26 pm #
REF: U.S. HEALTH CARE SUX
This Vancemack poster sounds pretty bad. Makes my stomach roll over. Phooey!
On the other hand, I consider that KDelphi had the best take on this issue:
“yler—thanks. Some of us know this to be true. There are huge economic interests here in the States that convince and scare people into believing that health care in not a human right, vut is just fine being a hugely profitable buasiness, while patients die much too soon. It is perhaps USA greed at its most ugly. Some are optimistic, but, the prospects dont look good, to me.”
The pro-drug and pro-health insurance companies are spending big time to keep their choke-hold on the puppet politicians and ordinary people. If they succeed, millions will die.
Unless the U.S. Congress changes, the health care industry will win. Unless millions of people do all that they can possibly do to get the attention of the U.S. Congress and the White House, we lose.
Sick and tired of the mortgage banksters and the health care tycoons complain about the hardships of attending medical school. That hound won’t hunt.
Report thisBy samosamo, May 30 at 8:35 pm #
By KDelphi, May 30 at 7:09 pm
““Why would Obama change anything?”“
************************************
At the risk of me thinking you’re naive(I don’t), obama isn’t going to change a damn thing because he agreed not to in exchange for the presidency which is verified by his departure from most everything he promised in his campaign, and just like woodrow wilson agreed to sign the Federal Reserve Act of 1913 into law in exchange for his presidency and ronnie ‘alhzeimer’ reagan agreed to read the script and play the part of scramble brains on stage in the white house.
And all these crooks know that the people aren’t going to unravel the rigged system that exists today and put our democracy back together again, in fact these criminals are ‘banking’ on the people doing nothing but complaining.
What is disturbing is that law enforcement and judiciary don’t seem to have a single person that will make an effort to stop any of these crooks in their criminal endeavours nor does any kind of investigative reporter seem to want to ‘look into this thing’ and expose it for what it is, grand larceny on the grandest of scales without supervision.
Report thisBy KDelphi, May 30 at 7:09 pm #
What I cannot understand is why anyone would think that the monsters on Wall St would WANT to “reform”—they got everything. They never paid anyone money back, they never went to jail, they kept their manions…why change anything?
Why would Obama change anything?
Report thisBy garth, May 30 at 5:53 pm #
I just started reading, “Surviving the Cataclysm,” by Webster Tarpley, and the story it tells leaves little doubt that the defenses thrown up to excuse Wall Street’s behavior (i.e., The banksters didn’t know what was going on, no one could see it coming, or they were stupid.) are groundless. They knew exactly what they were doing. And I’d say that with Obama and this congress, it’s going along as planned.
Report thisBy samosamo, May 28 at 12:47 pm #
After reading William Black’s ‘The Best Way To Rob A Bank Is To Own One’, I can only say that the S&L scandal of the 80s is now morphed into the financial terrorists attack of the here and now with the ‘beyond reproach’ CEOs and upper managements, appraisers, lobbyists and the government all colluding to use control fraud to ‘persuade’ those auditors, investigators and regulators that USED to keep a check on these now criminal corporate ‘leaders’ and their ilk but now are ‘bought and paid for’ to do the opposite of what they were meant to do.
This has infected just about the whole of the system just to give that illusion of power and of a ‘legal way’ of ‘doing business for our country to be robbed blind.
Report thisBy garth, May 28 at 11:09 am #
Obama spoke to an audience at a fundraiser in Beverly Hills, CA yesterday and said that the economy is on the rebound and that we’ve come back from the brink.
Report thisHe’s whistling past the graveyard.
He got $ 3 million in contributions to the DNC from those “poor” people in Beverly Hills, so I guess one could say that he picks his spots well.
Thom Hartmann on a radio broadcast covers his adoration for Obama. He declares, “It’s the issues, stupid.” Then he berates a black caller for saying that Obama is still the first black President, to which Hartmann decries, “And Clarence Thomas was the first black Supreme Court Justice.” No, stupid, Thurgood Marshall was.
As far as the issues go, they seem to linger: destroying US labor, single payer vs. health insurance industry ripoff, credit card swindle, Wall Street thievery, wars and occupations all over the world, continuing to torture while still saying we don’t, habeas corpus, wealth for few and povery for the many.
We elect candidates, supposedly, who claim to have solutions to these mounting problems (issues), but the ones we elect do nothing, or worse; they keep doing what was done before. It’s like what Einstein said about insanity. You the same thing over and over again expecting different results.
Let’s face it, after just a few years of first getting aquainted with Obama, then listening to his campaign sales pitch, and finally electing him and watching him at work, it has become painfully obvious that Obama’s a bum.
Now, Obama will wrap himself in the security blanket of the national media and we’ll get from them puff pieces, distractions, and outright lies.
Gen’l James Jones spoke yesterday about national security including narco traffic, the war in Iraq, etc.
Reminded me of an old cartoon, “There Oughtta be a Law.” This jamoke and the Johnson-Nixon-Carter-Reagan-Bush-Clinton-Bush-Obama administration have changed it to “There Oughtta Be a War.”
By Shift, May 28 at 12:39 am #
The meltdown continues with more people unable to meet their basic needs. How these people are supposed to spark the economy through consumer spending, when they are broke, is beyond my understanding.
Twelve trillion dollars has been thrown at the wealthy. Only one trillion has been aimed at working people.
Washington is uncontrollably corrupt and therefore will make life worse for working people, not better.
When the bailout bubble pops we go down again, only this time permanently.
Report thisBy rockinrobin, May 22 at 12:40 pm #
(Unregistered commenter)
Exploitation is a CRIME; it is the way this NATION is run “claiming” it is “democracy” which it is NOT. It is NOT for the people, it is to HARM the PEOPLE for personal profit.
Report thisDo a SEARCH on Rumsfeld (original person of “we are a force for good” BS fabricated from false reports based on Gunsmoke. Rumsfeld & monsanto, rumsfeld & asparteme (containing formaldehyde agressively used in everything including the food chain) & one of the most toxic things on Earth; Bush & Clinton & canola oil; Rockefeller owns 93 per cent of Pharma; with ALL the politicians owning great amounts of stock in BOTH: geared to HARM the people forcing them to BUY from the CRIMINAL CORPS (THEY criminalized them folks)to PAY them AGAIN to get “healed”; trillions of $ in off shore accounts as they carry out Hitlers agenda in the USA & then on to globally.
Claiming they “care” they do NOT. Care2.com health & wellness see all the petitions asking for poisonous chemicals to be removed from milk, cheese, chicken, beef: this “so called” melt down was the SAME lawbreakers working with BUS (guv is a tool for businesses to tell it what to do) NOT; it is Pentagon, Gov & Bus targeting & harming for PERSONAL gain & PERSONAL profit. THIS they claim is “democracy”.
By foggyjones, May 12 at 1:21 am #
monday night
ref: dwight, stay in the loop. of course, i detect no cognative impairment. thanks for the posts and will be digested a bit later.
if you can hired to design big pressure values and win on five times out of six, you are a winner. an old friend of mine and myself speculated some people have more brains than they need. bottom line is we give into our cravings and, inevitably, screw up. yep, you got all the cognative ability you need to do the right thing.
Report thisBy foggyjones, May 12 at 12:19 am #
Ref: Dwight
Enjoyed how business was straight forward and honest in those days. Much easier to understand. Seems entirely fair to me but both of us know there was no satellite worldwide communications and technical systems that is hard to keep up with. Again, charging in like the heroic poem that has inspired many people, “The Charge of Light Brigade,” by Runyard Kipling is uplifting but did not win the war.
Again, this is cold blooded chess. If you are inspired to win the war, recruitment is critical and security is step one. You have built a staging area, I suggest securing the perimeter. I assure you that you can rely on having getting “their” attention.
Obviously, you care and have invested in your site, that is great. Actually, your story about being innocently drawn into armed robbery would have irritated me more that a little. For instance, way back when I had a friend who suddenly tried to get me to switch positions when his car was stop for a traffic check. Nothing was wrong except his license was revoked for speeding. He was not an old friend, but a new acquaintance. No way, Jose.
Reminds me of the old spoof cartoon with The Lone Ranger and Tonto surround by a war party with the caption: What do you mean by “we,” white man?
Security, verification and details, details and more details are required. By 16 I was wild and randy enough to jump on the rankest bucking stock you could round up, but that was then and this i now. I didn’t just fall off the turnip truck. Like I said, you might be working real hard at a desk somewhere in Virginia setting out a trotline.
Maybe that is what I am doing? I would never judge a book by its cover, why would you?
Report thisBy DWIGHTBAKER, May 11 at 11:31 pm #
foggyjones, May 11 at 10:54 pm
Out in the Wild West some were called hired guns they did the shooting up while the fat cats laid back. Now on the East Coast when some from Sicily came along they had their ways too but not a far from the old Wild Western days. For the fat cats like to lay back and be the big bosses and call all the shots to avoid them any embarrassments. Now a time way back from the past just jumped up and took control.
True story for the Oil Fields in Oklahoma: My Dad got back from WWII could not find work but finally did, went to work for Lee Jones. His job was ruining a work over rig. Mr. Jones as all called him was a kind and caring man and did all he could do for his workers, customers all concerned. One day Mr. Jones asks Dad to go on a ride to Wichita Falls TX—told Dad he might have to come home alone. So off they went and soon arrived in front of the biggest bank there. While walking up to the front door he told Dad, “Dwight don’t say nothing just stare mean like I will do the talking”,
They finally got to see the big boss Mr. Jones set down Dad was standing—-the feller ask, ”Mr. Jones what are you here for?” Mr. Jones replied, “Come to get my money you have had too much time and my men need paid and that what we come for our pay.” The feller replied “You mean you didn’t get my check in the mail?” Mr. Jones said, “I am not talking about the mail” The feller said again “I told her to send it “ Mr. Jones replied, “I don’t know no her”
Then the feller said “Mr. Jones you are out of line” Mr. Jones sat back reached in his jacket and pulled out a 38 laid it on the desk and said, “No feller you are out of time I want my money”
Then a miracle just occurred that feller got on the phone and had that her bring in the cash to settle the account.
Well driving back Mr. Jones told Dad. “Dwight you did a sure enough good job today couldn’t done with out you watching my back”.
Then all was well for a long time then finally one day that feller in Wichita Falls needed some more work done. Mr. Jones said sure enough we will get your well back on line just have that her bring the cash when we rig down.
So sometimes it just takes getting the attention of some.
.(JavaScript must be enabled to view this email address)
Report thisBy foggyjones, May 11 at 10:54 pm #
MONDAY MONDAY 934 PM/CST DFW/USA
While keeping up the chatter being perused by the ruling elite, there are a few steps that should be taken, asap.
1. continue to learn the history of advertising, literature and propanda. whatever they call it, communications, public affair or public relations, news or smoke signals, whatever, it is not a benign source of important public information. It bares watched a distance with binoculars with filered lens.
2. how to communicate with security? concentrate on isolating each partial packet, which can come by more than one vehicle and routinely but randomly bounced through multiple nodes. consider what “they” do, which can easily be improved. from encryption to groups of packets via reliable friends, from business jets to eighteen wheelers. always assume every word is scrutinized. unfortunately, this absurd situation has been well funded. It is 99.9% wasted tune and money but like they said in the big one, loose lips sink ships.
These are interesting times, a time to defeat this cancer in the land.
(foggyjones is a friend of tomjoadjr.)
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