I'm glad I said the same exact words a few days ago. They say imitation is the sincerest form of flattery, but my exact words? Oh well, I understand our diet of grass and bark does take a toll.
Yes, both parties are political whores that serve their masters as long as they can be rented for their terms of office. The whoring begins when they first think about seeking office, lasts during office, and continues on in lucrative speech tours where they can sell-out even if the tickets aren't sold out (same with bullsh*t book deals - no one reads that crap, and why pay for some ghostwriter's work anyway).
I couldn't agree with you more. Unfortunately, the next step, automation, is well under way. American manufacturing is still the largest (as of 2011) representing 21% of world manufacturing. How is this possible since official unemployment is over 8%? The explanation is automation. Each year more and more complex manufacturing is being automated. And, this trend will not slow down, much less stop. Today's model of manufacturing to sell to high wage earners (that is how it works)is no longer viable since the economy will have fewer and fewer high wage jobs. It will only get worse.
So, what do we do? Think about it. It won't be long until we can have a growing manufacturing complex with 25% unemployment! I believe that this will make the industrial revolution pale in comparison. I don't have any answers, but it is time we start thinking about this.
We were all over the Stimulus and boy were hopes dashed quickly. Politicians just gave more favors to big business, enabled offshore outsourcing with taxpayer funds, did an absurd amount of tax cuts, when the multipliers just do not add up for the expense, and plain refused to give the most "bang for the buck".
All of this basically reduced the "multiplier effect" and why it turn into "spending money" instead of true Keynesian.
Right, no doubt about it the affect of further expanding the monetary base is Wall Street's crack and clearly they don't need more stock market profits. I'm positive we do not need commodities, esp. oil and food to increase in asset price.
This article basically says "wrong prescription" for the problem is the lack of regulations on the financial sector and #1 the lack of good jobs, stable jobs.
My issue is this fundamentally isn't the Fed's job, it's this government and Congress. Ignoring our corrupt Democrats who blew it and thus their power, we have the crazy GOP trying to claim up is down and left is right in their agenda.
Those automatic budget cuts coming, i.e. the fiscal cliff will probably throw the U.S. into another recession, two quarters of negative growth.
That entire "free market" bogus crap has been proven time and time again. Hey, "free markets" generate extreme poverty and there is no such beast as well.
In what true capitalist system with free market economics and the "invisible hand" would so many people scrutinize everything the Fed does or doesn't say? Adam Smith didn't envision this scenerio no matter how many times someone reads him. Bad economic stats are good because it means more QE? Madness. Good economic stats are bad? or good? because no QE? I think it started with "Mr. Kermit the Bubble Creator" Greenspan and politicians reading brilliance into his idiocy/"musings." Anyone that cared saw the Emperor had no clothes. Politicians wanted to believe he was some sort of genius when everyone knew he was busy helping build massive bubbles through housing, derivatives, and the complete deregulation of the financial markets. And it continues with Bernanke. With algos running the market and hedge funds and other banksters piling into the same stocks, of course Bernanke must do whatever it takes to keep those who feed at the Fed trough happy. If that means QE3, so be it. If it means ZIRP until 2018, so be it. Look at all the fake "free marketers" on CNBC and Bloomberg. They sure do love that central planning and banking when it suits their paydays and stocks at the expense of savers, inflation, and the unemployed labor force, don't they? Again, the Fed is supposed to have an average citizen on the Board to make sure we are represented, but where is he/she? Bernanke is looking forward to leaving and joining Goldman or JP Morgan in the near future, you can't do that if you piss off potential employers when they demand more free money from the Fed.
I purposely did not go into the various simulations and models used to support these Fed QE claims, they ain't a "10 minute read". That said, it appears the inputs ignore savings, interest, dividends as input variables. Aggregate hours worked is there but unless my quick study missed something, seems to be more of a correlation versus a final result output variable.
I have a direct link to the main quoted paper for this reason. I'm none too thrilled either at measuring real GDP by the change in the price index, which appears to be what's happening. They also seem to be using the correlation of QE to a negative Federal Funds Rate.
So, there are a lot of scalar fudge constants I see and ratios, correlations to other macro economic elements.
For example, labor arbitrage, i.e. offshore outsourcing and bringing over foreign workers to displace U.S. workers won't even be recognized by the BLS so those effects won't be considered under Okun's law as a ratio, just as an example.
I haven't studied the Fed tools and models enough to be an expert, but I sure can see $1.3 million per job is obscene and we keep seeing this over and over. If the government just literally handed people even $40k a year, free and clear, it would have been cheaper and that's not even requiring work for the money exchange.
Come on, without the Fed loaning our money out to banksters at 0%, how else could banksters get their coke and women? Be fair! Do you really expect these banksters to pull their kids out of Harvard, or Dalton, or Choate, or cancel a Labor Day weekend in Paris? What are you, a Communist or Socialist or even an educated American? Praise the oligarchy in all its wealth. Rupert Murdoch just told me during a private phone call he was hacking that I should stop my criticism otherwise he would pay the police to stalk me, and now I know he was right, banksters rule.
Trust the banksters, they keep telling us they are the best and brightest, and given their track record (besides their repeated failures in the billions-trillions of dollars and endless criminal activity) who are we to doubt them?
If you don't give Dimon free money and other primary dealers through QE 1-99, they won't be able to bet $2+ billion dollars on a coin flip aka swap trades. Why, even Jon "I like to commingle and steal $1.2 billion from farmers" Corzine enjoyed primary dealer status at MF Global. Without free Fed money, who's going to cover bankster severance packages when Barclays' employees get fired for fixing LIBOR? Sure, Barclays is British, but only the Fed can make secret international loans with taxpayer money to foreign banks. What, you thought America's Third Estate mattered? Nope. Banksters need that money, it's been proven that TARP and QE help create jobs for drug couriers and professional women (yeah, exactly). And besides, don't some of those very banksters do business with Iran and Cuba and drug cartels? Do you think it would be fair if banksters couldn't buy coke from the same cartels they are laundering money for with Fed money? Come on, that wouldn't be very friendly of them. And Romney and all the others are beating the war drums against Iran. So, the more we help out banks that help arm Iran, the more jobs Romney and others will create when we take on our enemy. Kind of like Rumsfeld. See Iraq needs our help - 10 years on, see Iraq is our enemy and now we can try to beat the same military we helped arm! Fantastic! Just make sure your memory is very, very short. Otherwise that might seem quite puzzling. Jobs when we arm them, jobs when we fight them.
The Fed is looking out for us, I'm sure of it. Why just the other day Bernanke and Congress and the President themselves left their bubbles and elite retreats and sat down with America's long-term unemployed and talked to them for weeks and weeks to find out how to help the Third Estate (America's 99%). Just kidding, Jackson Hole and Davos are secure and remote for good reason - who wants to meet the people you supposedly represent - I mean why would Louis XVI ever want to meet the peasants, the French monarchy could never fall and those starving, dirty peasants that happened to feed the entire country were just a nuisance to Versailles, right?
We know both campaigns have hired legions to control the social message. This statistic is a result of both Dem and Republican policies. Dems want more illegal immigration, basically open border, unlimited. Republicans want more offshore outsourcing. Both of these things labor arbitrage the U.S. citizen worker. Dems want to import more foreign workers, so do Republicans, both bailed out the Banksters, DOJ won't prosecute white collar, financial crime and regulations lax as they are, are not implemented. Sure we can and do blame the Bush tax cuts as well as Afghanistan and Iraq wars for causing most of the current fiscal crisis. But the fiscal crisis has little to do with people having no work and only can get food stamps to survive on the streets. But acting like Dems are better, beyond funding food stamps? That's a laugh, neither party will act in the U.S. citizen worker's best interest or even the national interest. They are both bought and paid for by MNCs and other big money interests.
Romney claims he will confront China meanwhile both parties are working on another bad trade deal, TPP. It's a joke. Obama administration has done nothing about China trade or currency manipulation.
GOP needed a Hostage to get back into office. There is no other way considering that they squandered a budget surplus. What other way can they get back on the saddle to continue wringing the peasants? Answer is obvious. Wanna get out of a tight situation... take a hostage from the other side. Is this number startling? Not really. Wait and see what happens if we don't re-elect Obama. Wall Street knows that money is neither gained nor lost... it just exchanges hands.All the money you lost from your 401K.... whos got it? For those who lost their homes... guess who's scooping it up for 20 cents on a dollar you paid for it. All these a fluke?....heck NO some persons had it going for the past 12 years and about to step in again to set us up for the next flip.. Give it 10 years and they do it over again. No regs, No restriction..... because they wanna have a free hand to pull the dirt again. Yes we are pretty dumb and they know it. They are telling it to our faces but they also know what they know. That we are dumb. They are watching. What we do, confirms what they think. Are we just about to do it to ourselves again? They are asking.
Paul Ryan is a traitor to the United States.
On the evening of January 20th, 2009, Paul Ryan and many other elected Republicans officials, conspired at a Washington DC restaurant for 4 hours.
It was the evening of Barack Obama’s Presidential Inauguration.
Newt Gingrich described the meeting as “the night when the seeds of 2012 were sown”.
During that meeting the Republicans pledged to block and/or filibuster any bill proposed by President Obama that would help the American people.
Paul Ryan and the Republicans have sabotaged America.
Paul Ryan and the rest are traitors to the United States of America!
Mitt Romney said at the Republican Convention that he had had “great hopes for President Obama”. What a phony liar Mitt Romney is.
The Republicans are nothing but disciples of Adolf Hitler who wrote in Mein Kampf , that the bigger the lie the more that the gullible public will believe it as long as you repeat it over and over again.
Fox News is their Ministry of Propaganda.
For our grand children’s sake, we can’t get fooled again…can we?
Save the energy, as zerohedge keeps pointing out, we are in 1984 and Goebbels territory now. Applicable quotes:
"Think of the press as a great keyboard on which the government can play." - Goebbels
"Those who are too smart to engage in politics are punished by being governed by those who are dumber.” -
Plato
"In politics stupidity is not a handicap." - Napoleon
"If you tell a lie big enough and keep repeating it, people will eventually come to believe it." - Goebbels
"In a time of universal deceit - telling the truth is a revolutionary act." - Orwell
"How can we expect fate to let a righteous cause prevail when there is hardly anyone who will give himself up undividedly to a righteous cause?” Sophie Scholl
"The real damage is done by those millions who want to 'survive.' The honest men who just want to be left in peace. Those who don’t want their little lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those who don’t like to make waves—or enemies. Those for whom freedom, honour, truth, and principles are only literature. Those who live small, mate small, die small. It’s the reductionist approach to life: if you keep it small, you’ll keep it under control. If you don’t make any noise, the bogeyman won’t find you. But it’s all an illusion, because they die too, those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what? Life is always on the edge of death; narrow streets lead to the same place as wide avenues, and a little candle burns itself out just like a flaming torch does. I choose my own way to burn.” Scholl
Happy Unemployment Day aka Labor Day! The struggle continues while those making money through labor arbitrage and corruption will enjoy their weekends in the Hamptons or Tahiti or the Riviera.
Gore's DNC front/Current TV is upset because Clint Eastwood said 20+ million Americans were unemployed. Okay, that's right according to everyone that understands U-3, U-6, BLS numbers, labor participation rates, and reads non-MSM talking points (MSM points brought to you by your friends at the Fortune 500, Koch, Soros, and the RNC, DNC, and PRC). Because they want to help this President and fellow Democratic politicians, of course, unemployment must be minimized. But if that's the case, isn't the GOP House doing well then? But if the GOP House is bad, then unemployment is also bad. Damn it, these inconsistencies! Let's make it easier, they both suck.
Of course Current TV, Gore, Spitzer (equal before the law, including attempts to avoid reporting suspicious activities under US money laundering laws - Morgenthau Manhattan DA failure to prosecute and feds unwillingness - CORRUPT) want it both ways, unemployment is bad, but 1/2 the political puppet show isn't responsible. Yeah, right.
Don't blame NAFTA, or the WTO, or the elimination of Glass-Steagall, or Clinton, or Barney Frank, or Chris "SOPA + movies and banking pay so well" Dodd or Rangel or Pelosi. It's all this party or that party. "Uh, well, I have to be corrupt, the other guy is more corrupt. Oh, sure I destroyed 10 million American jobs, but the other guy destroyed 11 million, so vote for me."
This circus wouldn't amuse a 2 year old, it's predictable, lame, and highly overpriced. And these clowns honestly get paid by us in addition to the bribes they collect? It's safe to say GOP and Democratic politicians are going to be drinking Dom and eating at luxury beachside resorts this weekend with their fake "opponents" and mocking us at every turn. And then the puppet show and phony differences can begin anew for the public's consumption.
will describe, do "I feel your pain", know exactly what the economic problems are, then turn around and try to sell us snake oil on a host of MNC policy agendas that will only hurt America and the middle class more. It's disgusting.
While gulping my anti-nausea medicine, I quickly turned on Bloomberg/Anti-soda bankster TV and saw some oligarch puppet candidate for some office (I think it was the Presidency) talking about fixing (i.e., eliminating) Dodd-Frank. I think he was also talking about lowering taxes for his puppetmasters too. And in the next clips publicly-bailed out oligarchs Dimon and Blankfein were talking about fixing Dodd-Frank. I thought Dimon would be in jail for breaking sanctions with Iran, for bribes in Alabama, and taking money from Corzine during the MF Global $1.2 billion theft, but that was only a dream I once had.
So, that's the oligarchs' priority, and obviously their puppets in all parties. Worrying about the oligarchs' agenda so Dimon can lose $2-$20 billion more on bad swap bets (heads this time, Dimon, heads) and the banking cartel can raid more customer funds, hide more material facts from their customers, and manipulate LIBOR, silver, gold and aluminum while laundering money with no problems. Toss in the word "uncertainty" at least 500 times by these morons of the universe and job destroyers and we're all set for US of Nothing but Corruption.
With close to 30 million people unemployed, this is what these tools focus on. Public servants serve the oligarchs. Glass-Steagall came during the Depression and helped lay the groundwork for financial health. I don't think FDR really gave a crap what the guys who destroyed the economy cared about. And I don't think the media was focusing on their sob stories vs. the migrant farmers and people in soup lines - but now that's all they cover.
Close to 30 million people unemployed, but that's an afterthought to national conventions as oligarchs party on. Really, every politician should be weeping for America and its CITIZENS they swore to serve and taking every second of their days to make sure US citizens can find jobs with living wages. And the media isn't interviewing and talking about the tens of millions of average citizens that are dipping into retirement to survive or are struggling in jobs (or trying to find one) that no one can live on? Don't care about the folks that built Silicon Valley, but what banksters want is important? Maybe to a fraction of idiots, a mere fraction that depended on us to bail their dumb asses out.
It's unbelievable, instead of helping U.S. citizens start new businesses, they want to turn our university system into a glorified green card ATM by giving any graduate, or some proposals limit to STEM or MS and PhD, a green card.
This is when half of new graduates cannot get a job and there are estimated 2 million people with STEM backgrounds who are not being hired or enabled to do start-ups.
I can really relate to Roberts post. I don't recognize America today at all. Images from the real America are basically onto to sell us sugar water and bad drugs.
Yes, both parties are political whores that serve their masters as long as they can be rented for their terms of office. The whoring begins when they first think about seeking office, lasts during office, and continues on in lucrative speech tours where they can sell-out even if the tickets aren't sold out (same with bullsh*t book deals - no one reads that crap, and why pay for some ghostwriter's work anyway).
Elections choose who will get rich off the public dime while also getting rich through selling their office. Why choose anyone to get rich through crime, that's not doing us any good. Anyone caught getting rich right before, during, or after their term of office (or friends or relatives or shadow corporations) goes to jail and is then banished like in ancient Greece (or life in prison). Right now we've got traitors making money by selling us out to foreign nations because NAFTA or the WTO or some other deal allows it? Excuse my idiocy, but how is it possible politicians and corporate boards can purposely sell out our national secrets, physical security, and purposely destroy our economic security only to be rewarded with more perks and money? Are we in a battle with drug cartels and Iran? Then shouldn't every single bankster that was caught profiting from our "enemies" be viewed as a criminal, and possibly aiding our enemies? How is that not treason?
If I call myself a politician and get rich off bribes and destroying my nation, is that now okay? Nope, f that. If someone wants to help America's enemies, is that okay if they incorporate themselves with other scoundrels, conduct some legit business on the side, and bribe the right politicians?
We all know the lies and propaganda about somehow the unemployed and 99% are lazy and stupid. I don't see the middle class or poor selling IP to China or destroying factories so wage slaves can make i-crap. I don't see the tough talking CEOs and politicians working for free in internships or outside in all weather conditions to make less than $8/hr. If getting rid of the minimum wage will create prosperity, then why, Stossel and others, are all these interns not relaxing on yachts but instead are relying on foodstamps and unemployment is now worse? No minimum wage = free labor. And the floodgates are now open.
The rule of law is dead. How about everyone is equal before the law - that's what matters in true democracies vs. banana republics. It starts with that. Bribe someone from patrol cop to White House, go to jail or prison. Sell national security out, go to prison - you are a traitor. You lobby/bribe Congress and lie about the lack of available Americans, you must be punished for perjury and go to jail for your attempt to flood us with more improper visa recipients or other foreign workers. You will be a social pariah to the 99% no matter how many "foundations" you set up in your name with ill-gotten wealth. If you are a politician and got rich in office or as a result of serving, you are corrupt, no two ways about it. Truman refused positions after serving because he said they wanted to buy the Presidential office, and it wasn't for sale. Bill, Hillary, and every other politician rolling in dough, why so rich? That money was made on our backs, not because you were busting ass 52 weeks a year in a mine or 50 stories up on a steel beam. Oh, and politicians (except for the Prez and his level), drop the armed guards and intimidation crap in your own country. You know who pulls the "I need armed guards" nonsense? Dictators and officials in completely corrupt countries. It's a sign of weakness. Why are you afraid of your own citizens and fellow countrymen? Why is JP Morgan's corporate board able to donate money to a police force? Conflict of interest says what? Are we that scary to you? You do realize you represent us, right? You serve us, not the other way around. Drop the armed guards, it's ridiculous. You want to be Robert Mugabe, fine, move to Zimbabwe. This is the USA, goons have no place here.
Media - do your jobs. Leave NYC and DC and LA and the Bay Area and visit the people with PhDs and experience in everything from STEM to logistics to the military to the law, to construction, etc. who are now homeless or can't get hired at 40 or know friends and family that killed themselves because they are "unemployable" to HR folks. Colleges and universities promote fraudulent career stats, and now people with skills and education are heavily in debt while administrators make $100,000 - millions of dollars off lies. Check out nursing, engineering, and law for starters. It's not that hard, 27 million people out here unemployed. You might piss off your corporate paymasters like Murdoch or GE, but risk it, show some balls, show some integrity. Be a puppet or be an adult, you can help solve the problem or continue to be less and less relevant.
To the rest of us, well, I look forward to our day. We won't be told to take any job by people who were handed their jobs by their daddies. We won't be told to just suck it up and disappear by people who have contributed nothing to bettering this world but only know how to steal other people's work in their quest for more power and riches. We won't be lectured to by people whose only values are abusing the weak, narcissism, nepotism, and cronyism. They are the ones who should be ashamed of their actions (if they had any shame) because their values aren't America's (the real America, not that espoused on corporate-owned TV or by Mr. Phone Hacking and Police Bribing Murdoch or Ailes on Fox or by GE or CNN). We should take advice from these scoundrels that are literally selling out what took 200 years to build for more wealth, more power? Never.
There was a community college who received over $1 million in grants to "retrain" highly skilled engineers, computer scientists in "restaurant services". Literally they got over $1 million bucks to retrain college educated people to say "do you want fries with that".
Retraining is such bogus blow off and of course part of the Democrats "platform". It goes to show they are intent on giving away American jobs. You don't "retrain" people who already have the very skills needed so you can import foreign guest workers and offshore outsource the jobs.
It's infuriating to see that and what a racket too.
It's too critical to Collapse China
I'm glad I said the same exact words a few days ago. They say imitation is the sincerest form of flattery, but my exact words? Oh well, I understand our diet of grass and bark does take a toll.
Yes, both parties are political whores that serve their masters as long as they can be rented for their terms of office. The whoring begins when they first think about seeking office, lasts during office, and continues on in lucrative speech tours where they can sell-out even if the tickets aren't sold out (same with bullsh*t book deals - no one reads that crap, and why pay for some ghostwriter's work anyway).
I couldn't agree with you more. Unfortunately, the next step, automation, is well under way. American manufacturing is still the largest (as of 2011) representing 21% of world manufacturing. How is this possible since official unemployment is over 8%? The explanation is automation. Each year more and more complex manufacturing is being automated. And, this trend will not slow down, much less stop. Today's model of manufacturing to sell to high wage earners (that is how it works)is no longer viable since the economy will have fewer and fewer high wage jobs. It will only get worse.
So, what do we do? Think about it. It won't be long until we can have a growing manufacturing complex with 25% unemployment! I believe that this will make the industrial revolution pale in comparison. I don't have any answers, but it is time we start thinking about this.
We were all over the Stimulus and boy were hopes dashed quickly. Politicians just gave more favors to big business, enabled offshore outsourcing with taxpayer funds, did an absurd amount of tax cuts, when the multipliers just do not add up for the expense, and plain refused to give the most "bang for the buck".
All of this basically reduced the "multiplier effect" and why it turn into "spending money" instead of true Keynesian.
Right, no doubt about it the affect of further expanding the monetary base is Wall Street's crack and clearly they don't need more stock market profits. I'm positive we do not need commodities, esp. oil and food to increase in asset price.
This article basically says "wrong prescription" for the problem is the lack of regulations on the financial sector and #1 the lack of good jobs, stable jobs.
My issue is this fundamentally isn't the Fed's job, it's this government and Congress. Ignoring our corrupt Democrats who blew it and thus their power, we have the crazy GOP trying to claim up is down and left is right in their agenda.
Those automatic budget cuts coming, i.e. the fiscal cliff will probably throw the U.S. into another recession, two quarters of negative growth.
That entire "free market" bogus crap has been proven time and time again. Hey, "free markets" generate extreme poverty and there is no such beast as well.
In what true capitalist system with free market economics and the "invisible hand" would so many people scrutinize everything the Fed does or doesn't say? Adam Smith didn't envision this scenerio no matter how many times someone reads him. Bad economic stats are good because it means more QE? Madness. Good economic stats are bad? or good? because no QE? I think it started with "Mr. Kermit the Bubble Creator" Greenspan and politicians reading brilliance into his idiocy/"musings." Anyone that cared saw the Emperor had no clothes. Politicians wanted to believe he was some sort of genius when everyone knew he was busy helping build massive bubbles through housing, derivatives, and the complete deregulation of the financial markets. And it continues with Bernanke. With algos running the market and hedge funds and other banksters piling into the same stocks, of course Bernanke must do whatever it takes to keep those who feed at the Fed trough happy. If that means QE3, so be it. If it means ZIRP until 2018, so be it. Look at all the fake "free marketers" on CNBC and Bloomberg. They sure do love that central planning and banking when it suits their paydays and stocks at the expense of savers, inflation, and the unemployed labor force, don't they? Again, the Fed is supposed to have an average citizen on the Board to make sure we are represented, but where is he/she? Bernanke is looking forward to leaving and joining Goldman or JP Morgan in the near future, you can't do that if you piss off potential employers when they demand more free money from the Fed.
I purposely did not go into the various simulations and models used to support these Fed QE claims, they ain't a "10 minute read". That said, it appears the inputs ignore savings, interest, dividends as input variables. Aggregate hours worked is there but unless my quick study missed something, seems to be more of a correlation versus a final result output variable.
I have a direct link to the main quoted paper for this reason. I'm none too thrilled either at measuring real GDP by the change in the price index, which appears to be what's happening. They also seem to be using the correlation of QE to a negative Federal Funds Rate.
So, there are a lot of scalar fudge constants I see and ratios, correlations to other macro economic elements.
For example, labor arbitrage, i.e. offshore outsourcing and bringing over foreign workers to displace U.S. workers won't even be recognized by the BLS so those effects won't be considered under Okun's law as a ratio, just as an example.
I haven't studied the Fed tools and models enough to be an expert, but I sure can see $1.3 million per job is obscene and we keep seeing this over and over. If the government just literally handed people even $40k a year, free and clear, it would have been cheaper and that's not even requiring work for the money exchange.
Come on, without the Fed loaning our money out to banksters at 0%, how else could banksters get their coke and women? Be fair! Do you really expect these banksters to pull their kids out of Harvard, or Dalton, or Choate, or cancel a Labor Day weekend in Paris? What are you, a Communist or Socialist or even an educated American? Praise the oligarchy in all its wealth. Rupert Murdoch just told me during a private phone call he was hacking that I should stop my criticism otherwise he would pay the police to stalk me, and now I know he was right, banksters rule.
Trust the banksters, they keep telling us they are the best and brightest, and given their track record (besides their repeated failures in the billions-trillions of dollars and endless criminal activity) who are we to doubt them?
If you don't give Dimon free money and other primary dealers through QE 1-99, they won't be able to bet $2+ billion dollars on a coin flip aka swap trades. Why, even Jon "I like to commingle and steal $1.2 billion from farmers" Corzine enjoyed primary dealer status at MF Global. Without free Fed money, who's going to cover bankster severance packages when Barclays' employees get fired for fixing LIBOR? Sure, Barclays is British, but only the Fed can make secret international loans with taxpayer money to foreign banks. What, you thought America's Third Estate mattered? Nope. Banksters need that money, it's been proven that TARP and QE help create jobs for drug couriers and professional women (yeah, exactly). And besides, don't some of those very banksters do business with Iran and Cuba and drug cartels? Do you think it would be fair if banksters couldn't buy coke from the same cartels they are laundering money for with Fed money? Come on, that wouldn't be very friendly of them. And Romney and all the others are beating the war drums against Iran. So, the more we help out banks that help arm Iran, the more jobs Romney and others will create when we take on our enemy. Kind of like Rumsfeld. See Iraq needs our help - 10 years on, see Iraq is our enemy and now we can try to beat the same military we helped arm! Fantastic! Just make sure your memory is very, very short. Otherwise that might seem quite puzzling. Jobs when we arm them, jobs when we fight them.
The Fed is looking out for us, I'm sure of it. Why just the other day Bernanke and Congress and the President themselves left their bubbles and elite retreats and sat down with America's long-term unemployed and talked to them for weeks and weeks to find out how to help the Third Estate (America's 99%). Just kidding, Jackson Hole and Davos are secure and remote for good reason - who wants to meet the people you supposedly represent - I mean why would Louis XVI ever want to meet the peasants, the French monarchy could never fall and those starving, dirty peasants that happened to feed the entire country were just a nuisance to Versailles, right?
QE removes interest income from the economy. Randy Wray claims QE sucks about $400 billion a year out of the economy, in reduced interest payments.
http://www.economonitor.com/lrwray/2012/08/01/more-qe-libor-bond-vigilan...
So QE not only fails to create jobs, it may be killing jobs.
Agree that direct job creation would be better.
We know both campaigns have hired legions to control the social message. This statistic is a result of both Dem and Republican policies. Dems want more illegal immigration, basically open border, unlimited. Republicans want more offshore outsourcing. Both of these things labor arbitrage the U.S. citizen worker. Dems want to import more foreign workers, so do Republicans, both bailed out the Banksters, DOJ won't prosecute white collar, financial crime and regulations lax as they are, are not implemented. Sure we can and do blame the Bush tax cuts as well as Afghanistan and Iraq wars for causing most of the current fiscal crisis. But the fiscal crisis has little to do with people having no work and only can get food stamps to survive on the streets. But acting like Dems are better, beyond funding food stamps? That's a laugh, neither party will act in the U.S. citizen worker's best interest or even the national interest. They are both bought and paid for by MNCs and other big money interests.
Romney claims he will confront China meanwhile both parties are working on another bad trade deal, TPP. It's a joke. Obama administration has done nothing about China trade or currency manipulation.
GOP needed a Hostage to get back into office. There is no other way considering that they squandered a budget surplus. What other way can they get back on the saddle to continue wringing the peasants? Answer is obvious. Wanna get out of a tight situation... take a hostage from the other side. Is this number startling? Not really. Wait and see what happens if we don't re-elect Obama. Wall Street knows that money is neither gained nor lost... it just exchanges hands.All the money you lost from your 401K.... whos got it? For those who lost their homes... guess who's scooping it up for 20 cents on a dollar you paid for it. All these a fluke?....heck NO some persons had it going for the past 12 years and about to step in again to set us up for the next flip.. Give it 10 years and they do it over again. No regs, No restriction..... because they wanna have a free hand to pull the dirt again. Yes we are pretty dumb and they know it. They are telling it to our faces but they also know what they know. That we are dumb. They are watching. What we do, confirms what they think. Are we just about to do it to ourselves again? They are asking.
Paul Ryan is a traitor to the United States.
On the evening of January 20th, 2009, Paul Ryan and many other elected Republicans officials, conspired at a Washington DC restaurant for 4 hours.
It was the evening of Barack Obama’s Presidential Inauguration.
Newt Gingrich described the meeting as “the night when the seeds of 2012 were sown”.
During that meeting the Republicans pledged to block and/or filibuster any bill proposed by President Obama that would help the American people.
Paul Ryan and the Republicans have sabotaged America.
Paul Ryan and the rest are traitors to the United States of America!
Mitt Romney said at the Republican Convention that he had had “great hopes for President Obama”. What a phony liar Mitt Romney is.
The Republicans are nothing but disciples of Adolf Hitler who wrote in Mein Kampf , that the bigger the lie the more that the gullible public will believe it as long as you repeat it over and over again.
Fox News is their Ministry of Propaganda.
For our grand children’s sake, we can’t get fooled again…can we?
Save the energy, as zerohedge keeps pointing out, we are in 1984 and Goebbels territory now. Applicable quotes:
"Think of the press as a great keyboard on which the government can play." - Goebbels
"Those who are too smart to engage in politics are punished by being governed by those who are dumber.” -
Plato
"In politics stupidity is not a handicap." - Napoleon
"If you tell a lie big enough and keep repeating it, people will eventually come to believe it." - Goebbels
"In a time of universal deceit - telling the truth is a revolutionary act." - Orwell
"How can we expect fate to let a righteous cause prevail when there is hardly anyone who will give himself up undividedly to a righteous cause?” Sophie Scholl
"The real damage is done by those millions who want to 'survive.' The honest men who just want to be left in peace. Those who don’t want their little lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those who don’t like to make waves—or enemies. Those for whom freedom, honour, truth, and principles are only literature. Those who live small, mate small, die small. It’s the reductionist approach to life: if you keep it small, you’ll keep it under control. If you don’t make any noise, the bogeyman won’t find you. But it’s all an illusion, because they die too, those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what? Life is always on the edge of death; narrow streets lead to the same place as wide avenues, and a little candle burns itself out just like a flaming torch does. I choose my own way to burn.” Scholl
offshore outsourcing, bad trade deals, immigration, foreign guest workers and how it all implodes U.S. job markets for U.S. citizens.
We even have a massive amount of spin out there trying to say up is down, the opposite.
I'll have to put together a table like form with policies boiled down to one sentence, comparison/contrast of the
onetwo parties.Happy Unemployment Day aka Labor Day! The struggle continues while those making money through labor arbitrage and corruption will enjoy their weekends in the Hamptons or Tahiti or the Riviera.
Gore's DNC front/Current TV is upset because Clint Eastwood said 20+ million Americans were unemployed. Okay, that's right according to everyone that understands U-3, U-6, BLS numbers, labor participation rates, and reads non-MSM talking points (MSM points brought to you by your friends at the Fortune 500, Koch, Soros, and the RNC, DNC, and PRC). Because they want to help this President and fellow Democratic politicians, of course, unemployment must be minimized. But if that's the case, isn't the GOP House doing well then? But if the GOP House is bad, then unemployment is also bad. Damn it, these inconsistencies! Let's make it easier, they both suck.
Of course Current TV, Gore, Spitzer (equal before the law, including attempts to avoid reporting suspicious activities under US money laundering laws - Morgenthau Manhattan DA failure to prosecute and feds unwillingness - CORRUPT) want it both ways, unemployment is bad, but 1/2 the political puppet show isn't responsible. Yeah, right.
Don't blame NAFTA, or the WTO, or the elimination of Glass-Steagall, or Clinton, or Barney Frank, or Chris "SOPA + movies and banking pay so well" Dodd or Rangel or Pelosi. It's all this party or that party. "Uh, well, I have to be corrupt, the other guy is more corrupt. Oh, sure I destroyed 10 million American jobs, but the other guy destroyed 11 million, so vote for me."
This circus wouldn't amuse a 2 year old, it's predictable, lame, and highly overpriced. And these clowns honestly get paid by us in addition to the bribes they collect? It's safe to say GOP and Democratic politicians are going to be drinking Dom and eating at luxury beachside resorts this weekend with their fake "opponents" and mocking us at every turn. And then the puppet show and phony differences can begin anew for the public's consumption.
will describe, do "I feel your pain", know exactly what the economic problems are, then turn around and try to sell us snake oil on a host of MNC policy agendas that will only hurt America and the middle class more. It's disgusting.
While gulping my anti-nausea medicine, I quickly turned on Bloomberg/Anti-soda bankster TV and saw some oligarch puppet candidate for some office (I think it was the Presidency) talking about fixing (i.e., eliminating) Dodd-Frank. I think he was also talking about lowering taxes for his puppetmasters too. And in the next clips publicly-bailed out oligarchs Dimon and Blankfein were talking about fixing Dodd-Frank. I thought Dimon would be in jail for breaking sanctions with Iran, for bribes in Alabama, and taking money from Corzine during the MF Global $1.2 billion theft, but that was only a dream I once had.
So, that's the oligarchs' priority, and obviously their puppets in all parties. Worrying about the oligarchs' agenda so Dimon can lose $2-$20 billion more on bad swap bets (heads this time, Dimon, heads) and the banking cartel can raid more customer funds, hide more material facts from their customers, and manipulate LIBOR, silver, gold and aluminum while laundering money with no problems. Toss in the word "uncertainty" at least 500 times by these morons of the universe and job destroyers and we're all set for US of Nothing but Corruption.
With close to 30 million people unemployed, this is what these tools focus on. Public servants serve the oligarchs. Glass-Steagall came during the Depression and helped lay the groundwork for financial health. I don't think FDR really gave a crap what the guys who destroyed the economy cared about. And I don't think the media was focusing on their sob stories vs. the migrant farmers and people in soup lines - but now that's all they cover.
Close to 30 million people unemployed, but that's an afterthought to national conventions as oligarchs party on. Really, every politician should be weeping for America and its CITIZENS they swore to serve and taking every second of their days to make sure US citizens can find jobs with living wages. And the media isn't interviewing and talking about the tens of millions of average citizens that are dipping into retirement to survive or are struggling in jobs (or trying to find one) that no one can live on? Don't care about the folks that built Silicon Valley, but what banksters want is important? Maybe to a fraction of idiots, a mere fraction that depended on us to bail their dumb asses out.
It's unbelievable, instead of helping U.S. citizens start new businesses, they want to turn our university system into a glorified green card ATM by giving any graduate, or some proposals limit to STEM or MS and PhD, a green card.
This is when half of new graduates cannot get a job and there are estimated 2 million people with STEM backgrounds who are not being hired or enabled to do start-ups.
I can really relate to Roberts post. I don't recognize America today at all. Images from the real America are basically onto to sell us sugar water and bad drugs.
Yes, both parties are political whores that serve their masters as long as they can be rented for their terms of office. The whoring begins when they first think about seeking office, lasts during office, and continues on in lucrative speech tours where they can sell-out even if the tickets aren't sold out (same with bullsh*t book deals - no one reads that crap, and why pay for some ghostwriter's work anyway).
Elections choose who will get rich off the public dime while also getting rich through selling their office. Why choose anyone to get rich through crime, that's not doing us any good. Anyone caught getting rich right before, during, or after their term of office (or friends or relatives or shadow corporations) goes to jail and is then banished like in ancient Greece (or life in prison). Right now we've got traitors making money by selling us out to foreign nations because NAFTA or the WTO or some other deal allows it? Excuse my idiocy, but how is it possible politicians and corporate boards can purposely sell out our national secrets, physical security, and purposely destroy our economic security only to be rewarded with more perks and money? Are we in a battle with drug cartels and Iran? Then shouldn't every single bankster that was caught profiting from our "enemies" be viewed as a criminal, and possibly aiding our enemies? How is that not treason?
If I call myself a politician and get rich off bribes and destroying my nation, is that now okay? Nope, f that. If someone wants to help America's enemies, is that okay if they incorporate themselves with other scoundrels, conduct some legit business on the side, and bribe the right politicians?
We all know the lies and propaganda about somehow the unemployed and 99% are lazy and stupid. I don't see the middle class or poor selling IP to China or destroying factories so wage slaves can make i-crap. I don't see the tough talking CEOs and politicians working for free in internships or outside in all weather conditions to make less than $8/hr. If getting rid of the minimum wage will create prosperity, then why, Stossel and others, are all these interns not relaxing on yachts but instead are relying on foodstamps and unemployment is now worse? No minimum wage = free labor. And the floodgates are now open.
The rule of law is dead. How about everyone is equal before the law - that's what matters in true democracies vs. banana republics. It starts with that. Bribe someone from patrol cop to White House, go to jail or prison. Sell national security out, go to prison - you are a traitor. You lobby/bribe Congress and lie about the lack of available Americans, you must be punished for perjury and go to jail for your attempt to flood us with more improper visa recipients or other foreign workers. You will be a social pariah to the 99% no matter how many "foundations" you set up in your name with ill-gotten wealth. If you are a politician and got rich in office or as a result of serving, you are corrupt, no two ways about it. Truman refused positions after serving because he said they wanted to buy the Presidential office, and it wasn't for sale. Bill, Hillary, and every other politician rolling in dough, why so rich? That money was made on our backs, not because you were busting ass 52 weeks a year in a mine or 50 stories up on a steel beam. Oh, and politicians (except for the Prez and his level), drop the armed guards and intimidation crap in your own country. You know who pulls the "I need armed guards" nonsense? Dictators and officials in completely corrupt countries. It's a sign of weakness. Why are you afraid of your own citizens and fellow countrymen? Why is JP Morgan's corporate board able to donate money to a police force? Conflict of interest says what? Are we that scary to you? You do realize you represent us, right? You serve us, not the other way around. Drop the armed guards, it's ridiculous. You want to be Robert Mugabe, fine, move to Zimbabwe. This is the USA, goons have no place here.
Media - do your jobs. Leave NYC and DC and LA and the Bay Area and visit the people with PhDs and experience in everything from STEM to logistics to the military to the law, to construction, etc. who are now homeless or can't get hired at 40 or know friends and family that killed themselves because they are "unemployable" to HR folks. Colleges and universities promote fraudulent career stats, and now people with skills and education are heavily in debt while administrators make $100,000 - millions of dollars off lies. Check out nursing, engineering, and law for starters. It's not that hard, 27 million people out here unemployed. You might piss off your corporate paymasters like Murdoch or GE, but risk it, show some balls, show some integrity. Be a puppet or be an adult, you can help solve the problem or continue to be less and less relevant.
To the rest of us, well, I look forward to our day. We won't be told to take any job by people who were handed their jobs by their daddies. We won't be told to just suck it up and disappear by people who have contributed nothing to bettering this world but only know how to steal other people's work in their quest for more power and riches. We won't be lectured to by people whose only values are abusing the weak, narcissism, nepotism, and cronyism. They are the ones who should be ashamed of their actions (if they had any shame) because their values aren't America's (the real America, not that espoused on corporate-owned TV or by Mr. Phone Hacking and Police Bribing Murdoch or Ailes on Fox or by GE or CNN). We should take advice from these scoundrels that are literally selling out what took 200 years to build for more wealth, more power? Never.
There was a community college who received over $1 million in grants to "retrain" highly skilled engineers, computer scientists in "restaurant services". Literally they got over $1 million bucks to retrain college educated people to say "do you want fries with that".
Retraining is such bogus blow off and of course part of the Democrats "platform". It goes to show they are intent on giving away American jobs. You don't "retrain" people who already have the very skills needed so you can import foreign guest workers and offshore outsource the jobs.
It's infuriating to see that and what a racket too.
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