4 replies to this topic

[Geomean]

CNBC link

[dasein]

Geo, the way it is playing out, it seems that Greenspan, Moodys and all the others in the good ole boys network are playing ball they way they should, and their timing is perfect. QE 2 is ending, the bailouts have been passed out, the wives of IB presidents have gotten govt stimulus millions to buy RE and the money is way gone, to make an understatement. so next step is to setup the bag holder - like in Europe, now comes the pressure job to make sure the old boys do not have to pay anything back, but that the ordinary taxpayer (Germany) the pensioner (Ireland, and everywhere else) will take the hit, and will be so scared and bullied, that he will actually vote for this hit himself! the plain vanilla lower and middle-class schmoe gets squeeszed again, not the recently enriched by the BO largesse, not the TARP funds bonus boys, not those enriched by the too long running and fiscally imprudent Bush tax cuts, not the oil companies or Ike's military industrial complex etc.

[Geomean]

Geo,

the way it is playing out, it seems that Greenspan, Moodys and all the others in the good ole boys network are playing ball they way they should, and their timing is perfect. QE 2 is ending, the bailouts have been passed out, the wives of IB presidents have gotten govt stimulus millions to buy RE and the money is way gone, to make an understatement. so next step is to setup the bag holder - like in Europe, now comes the pressure job to make sure the old boys do not have to pay anything back, but that the ordinary taxpayer (Germany) the pensioner (Ireland, and everywhere else) will take the hit, and will be so scared and bullied, that he will actually vote for this hit himself! the plain vanilla lower and middle-class schmoe gets squeeszed again, not the recently enriched by the BO largesse, not the TARP funds bonus boys, not those enriched by the too long running and fiscally imprudent Bush tax cuts, not the oil companies or Ike's military industrial complex etc.

Yes, Carmine Reinhart recently called it financial repression. Heck, even Krugman has picked up on the term. Krugman's NYT piece of 6/2 {with link to Reinhart's work] And Newsweek too is waking up, noting this week that there might be an American spring, like the Arab one. And GS just got a subpoena.

Obama didn't want to 'point fingers' when he came in. He's was too nice. Wanted to make nice so he might be able to get some things done. [Only wild eyed radicals wanted scalps back then]. And that is still his approach. Negotiations behind closed doors, minimal political rethoric, and trying to get people to work together with the screw job to be announced as a fait accompli.

And nobody was smart or brave enough when this bill of goods was originally sold to make the case that surpluses were more stimulative than deficits, due to multiplier effects or to point out the long term impact on the fisc.

There is such an incredible amount of hypocracy being spouted now by the same politicans who voted this mess.

The rich don't want to pay to have a civil society, they only want to manipulate or manage things to get evermore obscene levels of wealth. They'll move behind their gated communities/ protected apartment buildings/ and high security police, and pay for well managed hedge funds and let the rest deteriorate.

They ignore that what they have done will destroy the middle class, and the poor, that what folk have paid into to get coverage are insurance programs, not "entitlements".

So if it is 'cover', then good. Greenspan is a realist. We have the lowest level of tax receipts to GDP of any major country. That can't be sustained.

[slupert]

Geo,

the way it is playing out, it seems that Greenspan, Moodys and all the others in the good ole boys network are playing ball they way they should, and their timing is perfect. QE 2 is ending, the bailouts have been passed out, the wives of IB presidents have gotten govt stimulus millions to buy RE and the money is way gone, to make an understatement. so next step is to setup the bag holder - like in Europe, now comes the pressure job to make sure the old boys do not have to pay anything back, but that the ordinary taxpayer (Germany) the pensioner (Ireland, and everywhere else) will take the hit, and will be so scared and bullied, that he will actually vote for this hit himself! the plain vanilla lower and middle-class schmoe gets squeeszed again, not the recently enriched by the BO largesse, not the TARP funds bonus boys, not those enriched by the too long running and fiscally imprudent Bush tax cuts, not the oil companies or Ike's military industrial complex etc.

The total debt ratio of this country is 26 to one. Lehman Brothers collapsed with a debt ratio somewhere in the low 30's and other Wall street firms would have bee right behind them if it were not for bailouts.The most fleet footed players in the game could not handle this amount of debt. So whaddaya think is going to happen with a big slow moving klunker like the US Govt., and the consumer sector so heavily in debt? i'll give ya rtwo guesses, A) all debts magically get paid by the tooth fairy KAAAAAAAAABBOOOOOOOOOOOMMMMMMMMM!!

[slupert]

Geo,

the way it is playing out, it seems that Greenspan, Moodys and all the others in the good ole boys network are playing ball they way they should, and their timing is perfect. QE 2 is ending, the bailouts have been passed out, the wives of IB presidents have gotten govt stimulus millions to buy RE and the money is way gone, to make an understatement. so next step is to setup the bag holder - like in Europe, now comes the pressure job to make sure the old boys do not have to pay anything back, but that the ordinary taxpayer (Germany) the pensioner (Ireland, and everywhere else) will take the hit, and will be so scared and bullied, that he will actually vote for this hit himself! the plain vanilla lower and middle-class schmoe gets squeeszed again, not the recently enriched by the BO largesse, not the TARP funds bonus boys, not those enriched by the too long running and fiscally imprudent Bush tax cuts, not the oil companies or Ike's military industrial complex etc.

The total debt ratio of this country is 26 to one. Lehman Brothers collapsed with a debt ratio somewhere in the low 30's and other Wall street firms would have bee right behind them if it were not for bailouts.The most fleet footed players in the game could not handle this amount of debt. So whaddaya think is going to happen with a big slow moving klunker like the US Govt., and the consumer sector so heavily in debt? i'll give ya rtwo guesses, A) all debts magically get paid by the tooth fairy KAAAAAAAAABBOOOOOOOOOOOMMMMMMMMM!!