Sad is’nt it? The biggest news of the day that guarantees that everything will be more expensive during a period of stagnant wages and massive unemployment and hardly anyone takes note of it.
We are facing disaster and the rest of the world is going to feel the pinch too until they dump the dollar.
What a mess. All this to prevent the big banks from eating the losses they richly deserve. I love the excuse too, give the banks more money to lend as if the American consumer will borrow themselves out of the recession or coming depression. Genius!
The banks are not loaning money because they are too busy profiting from it and too few qualify for loans. Imagine how bad it will be for people on pensions when the market crashes at the same time the dollar collapses.
Freeze all FedGov spending.
Recall all TARP/bailout money not spent - which is a hellofa lot
Start making in cuts, begin with the re-imposition of the ‘welfare reforms’ recently overturned.
Start another - but better named - “Operation Wetback”
Fix the ‘Bush tax cuts’ by making them permanent
Jam a stick in the spokes of Freddie and Fannie - and clean out the nest of corrutions by firing all the Dem robbers i those organizations
Free Willy
Tell Germany - goodby - for that matter tell South Korea, Ahell, tell all of Europe goodby - and the Brits - goodby to them as well. Leave Kosovo - if it is important - Europe can sort it out and pay for it.
Reduce US Corporate taxes 5%, drop capital gains taxes for 4 years.
There is a lot that could be done - but is the will to overcome entrenched special interests there????
There are some people speaking up but it seems it will be too little too late for average people. Get ready to more for everything you really need to live.
Bachmann: I begged the Fed not to do it
Michele: ‘Does anyone honestly believe adding inflation would be a good thing?’
http://www.wnd.com/index.php?fa=PAGE.view&pageId=223665
Bernanke Confirms That The Key Goal Of The Fed, And QE2, Is To Boost Stock Prices
Glenn Beck Explains The Latest Iteration Of Quantitative Easing
http://www.zerohedge.com/article/glenn-beck-explains-quantiative-easing
Cathy McMorris (R-WA-5) Condemns Bernanke
http://market-ticker.org/akcs-www?post=171168
Those bankers didn’t donate heavily to obama long before he was running for president for nothing.
Quoting Freeper
“algernonpj (He who pays the piper . . .)”
It’s interesting how many forget that the Fed is right out of Marx’s Manifesto:
“The proletariat will use its political supremacy to wrest, by degree, all capital from the bourgeoisie, to centralize all instruments of production in the hands of the state, i.e., of the proletariat organized as the ruling class; and to increase the total productive forces as rapidly as possible.
Of course, in the beginning, this cannot be effected except by means of despotic inroads on the rights of property, and on the conditions of bourgeois production; by means of measures, therefore, which appear economically insufficient and untenable, but which, in the course of the movement, outstrip themselves, necessitate further inroads upon the old social order, and are unavoidable as a means of entirely revolutionizing the mode of production. ... “
Measure No 5 of 10 to achieve the above in advanced nations =
“5. Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”
Manifesto of the Communist Party by Karl Marx and Frederick Engels
http://www.marxists.org/archive/marx/works/download/pdf/Manifesto.pdf
The depression is not “coming.” It is already here, Remember the classic one was not a continuous downturn. It was a series of recessions and anemic recoveries. It was proclaimed to be ended several times and did not really end until the 50s boom when the soldiers were all added back into thêconomy and Ike got most of the economic repressions of the New Deal lifted. During the war years we had a full-employment depression but people were no better off materially. All that production was being blown up as fast as it was produced and wages were frozen at near third world levels. Outside of the war years unemployment was up and downish. Unemployment now, if figured the way it was then, is comparable to that in the 30s.