Posted on 11/21/2008 5:46:26 AM PST by jessduntno
Wall Street and the Rise of Obama By Cliff Kincaid
Joe Biden made headlines by talking about a “generated crisis” for Obama. But is the current financial meltdown another “generated crisis?” Why did this crisis suddenly occur only six weeks before the election? Is it just a coincidence that it occurred at a time when John McCain was leading in the national public opinion polls and appeared to be on his way to a November 4 election victory?
“If it were not for the financial crisis,” commented Byron York of National Review, “McCain might have won” the election. It was the financial mess—not Obama’s massive advantage in campaign spending and a sympathetic media— that really hurt McCain.
If you examine the polling trend, McCain was moving ahead of Obama by mid-September.
The crisis, which is continuing and could get far worse, was man-made. It was not a natural disaster like an earthquake or a hurricane. And it is a fact that President Bush’s Treasury Secretary Henry Paulson, who worked for a Democratic firm, Goldman Sachs, and has very close ties to Communist China, is the one who convinced Bush on September 18 to publicly demand hundreds of billions of bailout dollars from Congress.
This is when McCain began falling in the polls.
Part of the problem was of McCain’s own making. He voted for the $700-billion plan after flirting with the House conservatives opposing it. He missed a critical opportunity to take on the incumbent President of his own party, Obama, the Democrats, and Wall Street interests.
The growing suspicion that the financial meltdown is a “generated crisis” has been fed by statements from President Bush himself. On September 18, Bush announced that the Securities and Exchange Commission (SEC) was stepping up its enforcement actions “against illegal market manipulation.”
(Excerpt) Read more at canadafreepress.com ...
Can’t Paulson be fired and the 700 bil ‘returned’ or at least better allocated?
battles are not just fought on battlefields.
With sovereign funds in the USA markets, it is just as conceivable that foreing powers would manipulate the market to give a move WEAK president and WEAK congress.
McCain was the dems inside man , how dense are we here on FR??
The collapse in the markets was pushed for the election
timing was everything - then McCain is shown to be OK with the one of the biggest pork barrel/socialist bills ever passed..folks we be had by the GOP and Dems..only a few here will admit it.
resign from the GOP join a third party cause folks the GOP is what it is and will never change - never.
Their point man is Joseph Stiglitz, who won the Nobel Prize for Economics in 2001 and is now a Columbia University professor. Stiglitz has been appointed by D’Escoto to chair a high-level U.N. task force to review the global financial system.
His first book, Globalization and its Discontents, suggested that while a global tax on currency transactions, the so-called Tobin Tax, was being seriously studied in Europe, it might involve serious “implementation problems.” But with his subsequent book, Making Globalization Work, those problems have vanished, as he argues for a variety of global tax schemes that would cost American taxpayers billions of dollars.
Stiglitz, a financial contributor to Obama’s presidential campaign and major backer of the national Democratic Party, is in a perfect position to guide the transition into a global socialist economy.
Some liberals understand the connection between Goldman Sachs and Obama. “Obama’s number one bundler is Goldman Sachs,” notes John R. MacArthur, publisher of Harper’s Magazine, in a release from the “progressive” group calling itself the Institute for Public Accuracy. He was referring to how money from the firm is packaged for the Obama campaign. “In his book, ‘The Audacity of Hope,’ Obama talks about how much he likes investment bankers, how bright and liberal they are,” says MacArthur.
I’ve followed economic trends as a matter of course for years. Last spring I began explaining to increasingly frightened people exactly what was happening with the oil markets. This naturally included a short explanation of the futures markets and how easily they were manipulated. It ended with a summary concluding that the oil price hike was nothing but market manipulation.
Months and a few huge busts of hedge markets later, oil prices becan to naturally adjust downward, though the price drop was attributed by the media to “lower than expected demand”.
Commodities prices can be made to crash using basically the same techniques as are used to inflate them. That is what is happening now.
Think “Failed economic policies of the Bush administration”. Think commodities price manipulation. Think of the value of making the public so afraid they collectively freeze like a deer awaiting onrushing death via a pair of bright lights....
Now, fast forward to January 20th, when The One will give some sort of ‘inspirational speech’. The healing of the markets will begin, and The One’s brilliant (totally paper and Clintonian) economic policies will be praised with man a “hallelujah!”
Gold prices sky rockets
Gold has not?
Why?
In fact, the price of ALL metals, even copper, has tanked along with everything else. Gas is still dropping like a stone.
I call foul play. We should ALL be calling foul play, NOW, so we can then say “We told you so” when the markets magically recover when The One takes over.
Yes
I’m with you shadow. There are others out there who believe like we do but don’t want to admit it publicly. I don’t think we have three branches of govt checking and balancing each other anymore either. That’s why i’m afraid that the SCOTUS really doesn’t have the power or the inclination to do what has to be done wrt the BO birth qualification case. They will find an out to the problem. And by out, i don’t mean Obama. I hope i’m wrong.
gobal economics at work here, all countries have to be at the same level i.e. the US will be levelized downward, with Obammie in charge we will rank next to India and China in the next 8 years. Wall Street went in the tank and killed McNasty’s chances of winning. Do not blame me I voted for Palin.
i have a degree in economics so i don’t need the cliff notes. however, surely you must acknowledge that there is manipulation going on in the markets. If not, you’re naive.
Soros said he would spend ALL of his BILLIONS to bring down Bush.......and the OTHER Billionaire Democrats feel the same......along with the MSM’s help.
I don't know if he has a responsibility for aiding and abetting in destroying the U.S. economy, but there is no doubt that he and his global billionaire buddies bought the White House and assisted in purchasing both Houses of Congress.
Can you spell “O-C-T-O-B-E-R S-U-R-P-R-I-S-E”????
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