Stacy Summary: Thanks to @maxkeiser for the Pilger link. The other headlines are just as awful for what they hold for the near future of our economies . . . especially for those in the age group here. Anyway, looks like a lot of ‘good’ headlines out there today, so post what you find and I will be posting more soon . . .
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It’s funny a shit! I watched Obama on TV during the election cycles and I could see what he was then. By the time the elections came word had already gotten out who was behind Obama. It all fit together as neatly as a finely cut puzzle. If you’re familiar with these things you know how it works and who set it all up.
Hello? Pilger is the most dead-on commentator on Obama I’ve seen or heard. I’ve been telling the dumb-shit, consensus reality sheeple for nearly a year that Obama is what the intel community calls a legend. IOW, the goddamned fucker is a creation, and from a very early age–my guess is younger than 10–maybe from his fucking birth!
Obama has floated like fucking magic along all of the significant stair steps of his life, he’s been spoon fed, uniquely trained and shaped to be their tool for this specific job. You can successfully wager that he is just one of many. They decided to pull this one off the shelf and put him into the area at this time.
Wake up, people.
@Karmaster23
I know what you’re saying.
Be careful of Pilger.
He has been doing this for so long that his ego is beginning to gobble him up.
I guess if you spend your whole life searching for the truth and often finding it, yet unable to do anything about it, it does make you a little nasty.
Buffett……ha
He could have taken the high road during the bailout / theft but no he dug his dick in the dirt with the rest of the pigs at the buffet.
Why does he bother opening his mealy-mouth …didnt he get enough???
Hes like shit on the shoe of liberty.
This video is so true it actually made me extremely sad. Truth is, folks, they say ignorance is bliss? Well, there’s an antithesis to that notion, and we all get to feel it.
Damn, this Pilger guy is good. Had to watch this twice to allow the perfect truth of it all sink in. Fuck Obama. Fuck them all. They make me sick.
The TALKING HEADS in the mysterious BOX WITH MOVING PICTURES
told me today that
GOLDMUNG SUCKS
is recommending people to
SHORT THE YANKEE BUCK AGAINST THE CANUCK BUCK…
wowie zowie…
Max was implying that a month ago, already…
fuckin banksters…
always behind the EDGE walkers,
but always ahead of the herd…
Chains we can bereave in – stolen from comment in other blog
I think pilger was pretty clear about his feelings about obama even before he was even elected….the spectator article where he called a him …oh nevermind I have feeling that pilger turned into nasty bitter old tosser a long while ago…..I remember watching his docs on granada tv way back when…he always came across as a bit of a whiny…well just whiny….but that doesn’t stop me from enjoying his dvd boxsets…suppose I should actually watch the clip before I say more.
Bringing the marks to market.
As the recommened stock picks dwindle down to the last few conglomerates left, the world’s poor greet bewildered newcomers by the millions each day. The only ones left ‘unaware’ of this global enslavement scam are the enabling class of specialised corphessionals, whose last freedom chips have been doubled down in hopes of righting the slaveship. Bon Voyage!
@geopol
absolutely. Kucinich or Grayson appear to be the only 2 democrats with the street cred to attack him.
They must step up at the next presidential election primary. Attack Obama from the left!
Dante:
Incredibly helpful links about the tax base dissolving and hyperinflation!
Now go back in time and try to recall when the fed was created?..I think about 1913.
And the income tax?
n 1913, the 16th Amendment to the Constitution made the income tax a permanent fixture in the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations. In fiscal year 1918, annual internal revenue collections for the first time passed the billion-dollar mark, rising to $5.4 billion by 1920. With the advent of World War II, employment increased, as did tax collections—to $7.3 billion. The withholding tax on wages was introduced in 1943 and was instrumental in increasing the number of taxpayers to 60 million and tax collections to $43 billion by 1945.
Pretty coincidental? No?
If Buffett was really worried about the dollar he should have pushed harder for less bailouts of his portfolio. He did not.. Most companies he owns have been subsidized in this crisis.
As for taxes, unemployment, and inflation:
If debtors’ revolt extends to tax non-compliance, then you’ve got the makings of a severe inflationary problem. Hyperinflations often occur when the government can print ever increasing quantities of money, but find little for sale, even as resources sit idle. The brief history of the Confederacy during the US civil war is an excellent illustration of this phenomenon. This does not require full employment; indeed, most hyperinflations take place with lots of unemployment because once hyperinflation sets in, it is virtually impossible to undertake ‘money now for money later’ operations..
The printing press, then, becomes a symptom of the problem, not the cause because it is the breakdown of the tax system which causes the government’s fiat money to become worthless, not the running of the printing presses per se. Tax gives value to a fiat currency. When one has widespread tax avoidance, it marks the beginnings of true political dysfunction.
Debt Revolt? Tax Strike?
There are a Lot of Angry People Out There
http://www.counterpunch.org/auerback08192009.html
Who is Obamer?
OBAMA USES LEFT COVER – STRIP IT AWAY
By now, it should be apparent how Obama operates. The policies are not that different from Bush-Cheney, but they are
carried out under left cover – a smokescreen of vaguely progressive rhetoric which turns out to be a tissue of lies. The
Republicans and assorted right-wing extremists eagerly attack Obama’s left-cover slogans, seldom the reality of his
policies. The Republicans do not attack Obama as a warmonger and a Wall Street puppet, since this points to the essence
of the GOP. Instead, they prefer fantastic distortions about socialism and catering to trade unions. Obama for his part
welcomes attacks from ogres like Limbaugh, Hannity, and Gingrich, since he knows he looks good in comparison. Some
leftists think that the way to influence Obama is to be nice to him. Nothing could be more misguided. Since Obama
depends on his left-cover camouflage to cloak his sell-outs, the first step is to strip off the left cover. When this has been
tried, as for example by the LGTB community, Obama has immediately offered some concessions as a shuck (some
benefits for same sex federal employees). If the peace movement were to come back from the dead and demonstrate in
force against Obama’s war policies, there is every reason to expect that Obama’s war policy could be impacted.
WGT
This John Pilger guy really has some issues. But at least his cluelessness is lifting with regard to O-Banana.
@Dedo:
Thanks! I was wondering how deficits and high unemployment create inflation. The blogs all say that there won’t be inflation because of unemployment. It’s confusing.
What did Buffet mean about printing money to pay the deficit when the Fed says they are done buying Treasuries in October? I think the money-printing operations will proceed out of the FDIC bailing out depositors with no funds in their kitty.
Ugly banking ahead.
Can you believe that Florida is over half underwater on mortgages?
http://www.sun-sentinel.com/business/realestate/condos/sfl-zillow-underwater-mortgages-081109,0,5309540.story
Nevada is worse:
http://www.howestreet.com/articles/index.php?article_id=10480
What’s going to happen when the mortgage rates reset? How about higher interest rates?
Foreclosures now are due to unemployment:
http://www.huffingtonpost.com/2009/08/18/unemployment-spike-compou_n_262630.html
@Stacy:
Just read your reply to Dedo; quite balance view and correct in the use of hate by the media to deflect issues from the real story. Hate here is operating out of anger and entitlement feelings that Americans have because of the dwindling opportunities for employment and the shrinking economy.
@Frances,…….nice commentary!
@Youri:
So even if you have big amounts of money if it’s not flowing cause of a stagnating economy you won’t have inflation either.
Buffet is referring to the effect that monetary stimulus will have on the real economy:
But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects. For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself.
The point that Buffet makes is that the money is borrowed: effects two-ways. The money adds to the deficit, which he considers a risk unto itself. The money also adds greatly to the monetary base, an inherent threat.
“There is, however, a danger that deficit spending may create inflation — or encourage existing inflation to persist. (In the United States, this is seen most clearly when Vietnam-war era deficits encouraged inflation.) This is especially true at low unemployment rates (say, below 4% unemployment in the U.S.).”
http://en.wikipedia.org/wiki/Deficit_spending
We will have a combination of high unemployment and high deficits. The danger is that the politicians will not raise taxes seeking reelection at the expense of the economy. (Buffet implies that tax hikes would be necessary to both cut the deficit and to ‘mop’ up dollars):
Legislators will correctly perceive that either raising taxes or cutting expenditures will threaten their re-election. To avoid this fate, they can opt for high rates of inflation, which never require a recorded vote and cannot be attributed to a specific action that any elected official takes.
Buffet’s points are correct, but he scapegoats Congress and applauds the stimulus and bailout which were the root of the problem. Scapegoating Congress, Buffet declares:
The dollar’s destiny lies with Congress.
Buffet ignores the insolvent banking system, the two unnecessary wars, the actions of the Fed in paying off collateral damage to other country’s bankers. Buffet parrots the party line.
Looks like a real collapse is imminent.
@Stacy:
Don’t you think the left is guilty of hate speech as well? Olbermann comes to my mind.
Greenpeace Leader Admits Arctic Ice Exaggeration
http://www.youtube.com/watch?v=NC7bE9jopXE
Buffett……ha
He could have taken the high road during the bailout / theft but no he dug his dick in the dirt with the rest of the pigs at the buffet.
Buffett why does he bother opening his mealy-mouth …didnt he get enough???
Hes like shit on the shoe of liberty.
@stacyherbert
OK! I also heard that some metals in fish are diffirent than the ones produced by the chemical industry. They are much mor binded to other substances so less dangerous. Donnow the details anymore.
@Youri – yes, I saw that article about mercury having been found in almost all fish but figured against posting it for fear of another hoax thread; the best line of that article is that ONLY 25% of the fish have dangerous levels (according to EPA standards, the WHO standards are that NO amount is safe) . . .
AaaH, don’t worry about mercury in your fish (which is going on for years an years) we just have to concentrate on CO2, cap and trade and other methods to be sure this economy will implode.
From: Mercury-tainted fish found widely in U.S. streams http://tinyurl.com/kkb8yn
“Consumers should brace themselves for more fees and higher interest rates. There’s no question about it,” said Dennis Moroney, banks card industry research director at Tower Group.
As consumer law goes into effect, issuers raise rates, fees (Market Watch) http://tinyurl.com/mphzs5
Flawed new credit-card rule fails to protect consumers (Market Watch) http://tinyurl.com/lkses4
@Stacey
The strategy of discrediting anti corporate opinions is an effective method, also because the (real) leftist perspective requires one to try to extract oneself from the mainstream. That doesn’t sit well with the well indoctrinated. All the cows behind the barbed wire are both happy they are safe in their meadow and resent the deviant cow that wanted to escape. If you try to cut the barbs you risk getting shot by the farmer, and the cows still expect you to bring them to another meadow..
@Mini US – the US doesn’t need to default in the same manner anyway as all its debts are in dollars which they can just print up at will; the problem for Iceland is all the euro debts held by both the population and the banks . . . they could theoretically print up more krona to buy euro to pay the debts off but obviously the exchange rate would continue to plummet the more currency they printed up
Re: Iceland.
Can’t the USA do the same thing as Iceland are talking about ie Not pay back its debts.
They have no income to pay the large debts they now have.
Does that make the US Financial terrorists as Hudson says?
Maybe there will just be a huge round of Debt Forgiveness world wide. Is that the Jubilee?
Its getting weird.
A-levels: students celebrate record results
More than a quarter of A-levels were graded an A today as students across the UK celebrated another year of record results.
… ” overall pass rate soared to 97.5 per cent ” …
.. ” trigger an unprecedented scramble for degree places following a record rise in the number of sixth-formers applying to university this year. ” …
… ” The Conservatives have criticised schools for promoting less rigorous subjects to boost their positions in official league tables. ” …
http://www.telegraph.co.uk/education/educationnews/6057253/A-levels-students-celebrate-record-results.html
Should one believe …
a) teachers and students are now brighter
or
b) the ( Govt. ) “set” standards are now lower / easier.
or
c) crowded Unis may mean higher fees
My impression of many young students these days ( incl. my own 2 young pre-teenagers ) is that educational standards have been lowered – significantly.
FWIW
Spending in the year to September 30 would total $3.653 trillion! U.S. posted a $180.68 billion budget deficit in July, a record for the month.
But the claim $2.074 trillion revenues? From what? Think this is very creative bookkeeping als usual switching short term for long term debts but this is just my quess.
From: U.S. deficit estimate to be cut to $1.58 trillion http://tinyurl.com/n89xya
@Mike/Liverpool
Thanks for Hudson audio and Iceland story.
Wow.
@Dedo – exactly; that’s what it is meant to do . . . oh, on the ‘left’ there is the ‘anarchists’ at the anti-globalisation rallies . . . 9 out of 10 of them are actually paid to break windows in order to discredit the whole movement and make the population unsupportive of these ‘violent’ protestors . . . you saw something similar at the Republican convention ‘riots’ . . . funny how the police only ever found journalists and middle aged activists to arrest and none of the young guys breaking windows were apprehended
BLOODY HELL!
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWeWcC2P3H8A
They expecting a loss of “Only ” £500 Million!!!!!
Mike
@Mike2liverpool … ” He SEZ ICELAND can’t & MUST NOT PAY! ”
I second that motion !
( as laid out in a older post )
If the creditors want something for their (fraudulently made debt ) “money”, they can fly over and ask for a few fish !
@Stacy,…….Re Hal Turner…… was reading about the guy and Alex Jones popped into my head for some reason,..: (
@Dedo – that’s the only way to describe it . . . mostly from Americans . . . of ‘both’ alleged sides . . . if you read the left wing blogs they are filled with unwavering hate for everything that the ‘right’ is for . . . and the same for the ‘right’ who deeply hate everything that is allegedly sacrosanct on the ‘left’ . . . but why are these right/left positions so so much more unyielding in the US than in much of Western Europe . . . probably because the intelligence services and propaganda machine there have programmed the population much better than they have done in Europe . . . and it’s funny how common interest . . . like oh the wholesale theft by the four or five huge banks remaining gets totally ignored by the population who are much happier apparently stewing in their hate for the other side and a consuming hatred for whether or not the other side believes in something like abortion or carrying firearms
@M&S : John Pilger .. Thanks … great statement !
John Pilger : http://de.wikipedia.org/wiki/John_Pilger
Descriptive Writer of the Year (1966)
Reporter of the Year (1967)
Journalist of the Year (1967)
International Reporter of the Year (1970)
News Reporter of the Year (1974)
Campaigning Journalist of the Year (1977)
Journalist of the Year (1979)
UN Media Peace Prize, Australien 1979 – 80
UN Media Peace Prize, Gold Medal, Australien 1980 – 81
TV Times Readers’ Award (1979)
The George Foster Peabody Award, USA (1990)
American Television Academy Award (Emmy) (1991)
British Academy of Film and Television Arts (BAFTA) – The Richard Dimbleby Award (1991)
Reporters Sans Frontiers Award, Frankreich (1990)
International de Television Geneve Award (1995)
The Monismanien Prize (Schweden, 2001)
Sophie-Preis (2003)
EMMA Media Personality of the Year (2003)
Royal Television Society: beste Dokumentation Großbritanniens (2004/2005)
One World Media Award: beste Dokumentation (für “War on Democracy”) (2008)
Buffet indeed acknowledges that inflation is a problem in the long run and “effects are invisible and could indeed remain latent for a long time.” He doesn’t explain why?
My quess is the deflation and the low oil prices and of cause a still decling economy in which yoo don’t have a postive monetairy Multiplier needed for Inflation. In other words, the money circulation is very low. So even if you have big amounts of money if it’s not flowing cause of a stagnating economy you won’t have inflation either.
Especially if the Monetairy amount is thigtening. Thightening cause banks hardly lend and because huge piles of money are traded for useless toxic debts, dead money!
Problem is trhat if banks have to expose their toxic assets the national debts will rise and more money will be desroyed in the toxic debts, money will tighten even more while absolutely nothing goes into the real economy.
That’s why banks avoided that in the hope that the economy would recover in time so they could hide these toxics in the old fashioned way but that only can be done if they have growth in the economy which we don’t have and don’t will have for some time.
The big race will be the national debt against the toxic assest which needs a growing economy to hide in. Now the have to hide it in a growing debt which is unsustainable in the long run.
@Stacy,……”Hate speech”,…..sounds like something Eric blair wrote in one of his books,..: )
Hudson On Iceland
“Guns & Butter” Radio show:-
http://www.kpfa.org/archive/id/53363
He SEZ ICELAND can’t & MUST NOT PAY!
Mike
Another thing that is funny about Hal Turner . . . I think it will probably emerge that MOST extreme right shock jocks are agents / paid provocateurs. It’s kind of like the case of the NPD extreme right party in Germany that the govt tried to bring to trial but the judge discovered that actually so much of the party were actually intelligence agents that it was impossible for him to determine what were the actions of the party and what was actually incited by agents!
Yes, propaganda for the left requires color-coded revolutions and causes; on the right, propaganda is delivered via ugly hate speech: http://www.breitbart.com/article.php?id=D9A5GCC80&show_article=1
I not only have zero tolerance for hate speech on principle, but also because I know for a fact from a very good source that, while indeed there are many haters out there, a significant percentage of hate comments are planted by paid provocateurs . . . or, the genuine hater is receiving their hate talking points from a frigging propaganda source
Posted this in last section, maybe not seen by some.
Peter Schiff talking about Warren Buffett comments.
http://www.youtube.com/watch?v=L5ZWLe8uKXE
Yeah, propaganda machine.
Eating hot dogs with the people, etc.
False hope to the downtrodden, etc.
The people behind the Pres don’t change. Well, sometimes the actual faces change but the idea is the same.
It’s worth listening to the whole speech that John Pilger gave some weeks ago and here it is (the long version): http://www.youtube.com/watch?v=gXL998q7skI
about 32 min long.
Heres the John Pilger speech in full (half hour) – includes edward bernays analysis!
http://www.youtube.com/watch?v=gXL998q7skI
You ask yourself what are they gonna do now? Certainly the interest rate will be kept low for a while but what about the Printing Press tactics?
Bank Governor Mervyn King defeated in bid to print even more boost stimulus to £200billion http://tinyurl.com/nxajhu