Max Keiser on the radio – Alex Jones show 05 July 2009

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Justice will be served, but how

Stacy Summary: Missed posting this on 4th July, but fantastic piece by Frank Rich in which Dillinger is once again brought up by US MSM.

If Americans still waiting for justice 18 months later, that is very dangerous

Another look at this much-chronicled past, “Dillinger’s Wild Ride,” by Elliott J. Gorn, a professor of history at Brown University, is the first to be published during our own hard times. In it you learn that ordinary law-abiding Americans even wrote letters to newspapers and politicians defending Dillinger’s assault on banks. “Dillinger did not rob poor people,” wrote one correspondent to The Indianapolis Star. “He robbed those who became rich by robbing the poor.”

Gorn writes that the current economic crisis helped him understand better why Americans could root for a homicidal bank robber: “As our own day’s story of stupid policies and lax regulations, of greedy moneymen, free-market hucksters, white-collar thieves, and self-serving politicians unfolds, and as banks foreclose on millions of families’ homes, workers lose their jobs, and life savings disappear, it becomes clear why Dillinger’s wild ride so fascinated America during the 1930s.” An outlaw could channel a people’s “sense of rage at the system that had failed them.”

As Gorn reminds us, Americans who felt betrayed didn’t just take to cheering Dillinger; some turned to the populism of Huey Long, or to right-wing and anti-Semitic demagogues like Father Coughlin, or to the Communist Party. The passions unleashed by economic inequities are explosive because those inequities violate the fundamental capitalist faith. It’s the bedrock American dream that virtues like hard work and playing by the rules are rewarded with prosperity.

In 2009, too many who worked hard and played by the rules are still suffering, while too many who bent or broke the rules with little or no accountability are back reaping a disproportionate share of what scant prosperity there is. The tepid national satisfaction taken in Bernie Madoff’s terminal prison sentence should be a warning to the White House. In the most devastating economic catastrophe since Dillinger’s time, many Americans know all too well that justice has yet to be served.

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[Video] Where is Obama? for Alex Jones listeners

Stacy Summary: Welcome! Here is the first part of our latest episode of On the Edge. Feel free to share it!

P.S. – Max mentions the “Gulag Wealth Index” . . . he meant to say Gulag Wealth Fund.

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Two more protests too inconvenient for the BBC to cover [UPDATED]

Stacy Summary: Part of my data collection / experiment started two weeks ago keeping track of how the news is presented by the BBC and other media outlets – though mostly BBC who insist at every turn that they are uniquely unbiased. Notice that there is no mention of the protests and subsequent clashes in Italy yesterday. Nor, in fact, did any Western media outlet other than Associated Press. AFP, Aljazeera and PressTV covered the story. Check it out on google. BBC did cover possible Abba reunion in September.

Another story the BBC did not report on was the Honduran airport over run by protesters demanding the return of their elected president. Interestingly, this Honduran airport story was covered by the MSM in the US, but not by the Social Media Networks like Twitter where only the intelligence services have the fire power to create the required twam.

UPDATE:

Watch the footage of the president arriving back to Honduras and the tens of thousands of Hondurans there to greet him

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[Video] A News Round Up from Stimulator

Stacy Summary: This is good.

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[1044] The Truth about Markets – 04 July 2009

Stacy Summary:  I think we talk about history and about bananas, blueberries and strawberries.

For more download and listening options visit Archive dot org

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[OTE8] On the Edge – 03 July 2009

Watch as one file at Blip

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India drops a dollar nuke on holiday weekend Friday

Stacy Summary: Yikes. Next week’s G8 is going to be verrrry interesting.

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Max Keiser’s Savers vs Speculators

Stacy Summary: In light of Sweden’s negative interest rates, here is the original warning from Max Keiser on this war between savers and speculators!

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Sweden takes sides in the epic battle of Savers vs Speculators

Stacy Summary:  I think we will have to get Dr. Michael Hudson on the show asap re: Sweden story as I suspect it may have something to do with the massive exposure to the Baltic region.  It would be truly amazing if it were Sweden that ended up going under before UK.  I think this a tip of the hat to Mike2liverpool?  And @all thanks for the hundreds of links in the comments, you are keeping Max very very busy and entertained that’s for sure.

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Fissures at the Fed, cold showers for Russia & U3 dole queues in America [updated]

Stacy Summary:  I didn’t seek these headlines out, they found me!  The headlines are just filled with the same old stuff of the past hundreds or thousands of years!  The more stuff happens, the more stuff stays the same.  What else are you reading??

The scale of credit rot in the Russian banking system exposed by Fitch Ratings this week is truly staggering. The report is yet another cold douche to those betting that the BRICs (Brazil, Russia, India, and China) can pull us out of our mess.

Updates:

Stacy:  Remember that U3 only captures those who haven’t fallen off the unemployment rolls after the 9 months one is allowed on.  U6 is the broader measure that was used before Clinton and is better to use if you want to compare this Depression to the 1930′s.  The U6 number must now be at about 20% is now over 20%.  Wait for a new band called U6 to be the new UB-40.

Chart of U.S. Unemployment

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BBC refers to Honduran protesters as ‘fanatical’

Stacy Summary:  Interesting in light of the broadcasters active campaigning for certain Other People’s Revolution.

But what of the Honduran people?

Recent events in Tegucigalpa, with hundreds of protesters chanting the president’s name have proved that he has his fanatical supporters.

Continue reading

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Banking system like the South Sea Bubble

Stacy Summary:  We, of course, used this analogy in our first, or was it the second, episode of On the Edge? Also, check out Hogarth’s earliest satirical sketch, “The South Sea Scheme” – it is still relevant.

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More massive losses at taxpayer owned Northern Rock now in breach of regulatory requirements

Stacy Summary: Wonder if Tesco still interested in buying the Northern Rock turkey?  The other thing about these headlines is that the state of the UK economy and infrastructure are in a bigger state of disaster than the US and most of my friends in UK have far more debt and lower income than my US friends.  I really can’t believe that we aren’t seeing the same levels of bankruptcy and homelessness as we see in US at the moment.  I suppose it is that there is a bigger public safety net in UK?

Analysts calculated that, to be in breach, the bank must have lost more than £500m in the past six months alone. Last year, Northern Rock made a £1.36bn loss after £1.15bn of bad debts. In December, a third of its £67bn mortgage book was in negative equity.

Despite breaking the rules, the FSA is letting the bank continue to write new mortgages and take deposits. Northern Rock is planning a capital restructuring that requires European state aid clearance and the regulator has agreed that “it does not currently intend to restrict the activities while the plan is implemented”.

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