Ireland’s 54 bil euro gamble & White House tarps TARP

Posted on November 12, 2009 by stacyherbert| 42 Comments

Stacy Summary:  It grows more evident every day that the global economy is truly in the hands of jokers.

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42 Responses to Ireland’s 54 bil euro gamble & White House tarps TARP

  1. Danny | November 12, 2009 at 2:15 am |

    24 year old Irishman seeks adoption from anyone in Canada, New Zealand, Cuba, France, Venezuela or Brazil due to his country blowing itself up.

  2. Mother earth | November 12, 2009 at 2:15 am |

    Eerste!

    Wasn’t the Tarp money incurring a debt? Isn’t this plugging one hole with another?

  3. Mep | November 12, 2009 at 2:22 am |

    Still, the potential move illustrates how the Obama administration is trying to find any way it can to bring down the deficit, which is turning into a political as well as an economic liability.

    #1 End the occupations; reduce defense spending.

    #2 Enact a national health care program.

    #3 Actually start producing things in the US again.

  4. Bonn | November 12, 2009 at 2:22 am |

    LOL There are no criminals. Everyone is innocent.
    Tell that to the people who lost everything RODFL
    Its all a big farce once you are in those upper Echelons Nobody can Touch em .They have made a mokery of that chick who holds the weight balance with the blindfold which represents Justice.
    All those Judges should be fired.

  6. maxkeiser | November 12, 2009 at 2:25 am |

    “…That whenever any form of government becomes destructive of these ends [Life, Liberty, and the pursuit of Happiness] it is the right of the people to alter or abolish it, and to institute new government…”
    The Declaration of Independence Jul 4, 1776

  8. Bonn | November 12, 2009 at 2:34 am |

    http://www.thedailyshow.com/
    RODFL
    Here towards the End Jon Stewart & John Oliver
    How the USSR fell and how Gorbi won a nobel price and how USSR was in Afganisthan and how thier Economy was in tatters RODFL
    Too Funny
    Legends of the Wall
    The Best F**king News Team Ever marks the 20th anniversary of their coverage of the fall of the Berlin Wall.
    LOL

  9. david | November 12, 2009 at 2:46 am |

    Danny whats up, haven’t ye heard we’re saved… and pigs can fly. Isn’t it funny what happened to the criminal investigations? fuck all really, instead the politicians and media have turned on the worker.

    Any now that Lenihan has saved the day I’m off to buy 6 houses with a 130% mortgage, am I bolox.

  10. pg | November 12, 2009 at 2:47 am |

    stacy, your on the money…idiots…..the us gov does not know how to handle money….or govern for that matter… max here, has the right idea…..pg

  11. PatrickEA | November 12, 2009 at 2:51 am |

    The New Career Path: Day Labor Work, Competing Against Immigrants

    http://globaleconomicanalysis.blogspot.com/2009/11/new-career-path-day-labor-work.html

    Reality is starting to dawn.

  12. mike | November 12, 2009 at 2:53 am |

    One thing that should be abolished is the fed and these GOLDMAN SACHS BANKSTERS

    We need a FED AUDIT these clown need to go to jail for fraud racketeering ETC!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    They are TERRORIST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  13. Mep | November 12, 2009 at 3:00 am |

    Patrick – Reality will really dawn after retailers take a bloodbath worse than last years’ over the holidays, when more states go the way of California, when we realize how badly we’ve really broken our military, and when the troops eventually come home to find no jobs, no homes, and no mental health services.

  14. Mini US | November 12, 2009 at 3:03 am |

    Thanks Max for DOW in gold.
    Time to stop measuring ANYTHING in USD, it has become irrelevant.

    Here is another version…
    DOW measured in purchasing power of USD over time.

    http://www.youtube.com/watch?v=Agd7fy94M34

  15. Mini US | November 12, 2009 at 3:08 am |

    Gold in AUD has gone up 40c in 6 months as $AU rises with gold and commodities.

    When markets crash(in their currency) it could be different.
    AUD down Gold up (instead of USD) – Just speculation :)

  17. Mini US | November 12, 2009 at 3:45 am |

    Australian PM in India to allay fears after racist bashings of Indian students in Australia which is disgusting.
    He is really there to talk about asylum seekers coming from Sri Lanka(ie palm them off to the Indians) and make friends with buyers of Gold.

    Its been ages since Aust PM last went there.
    Its disgusting.

  19. Danny | November 12, 2009 at 4:06 am |

    @david

    J’ya hear Cowen on the radio there saying we’re coming out of recession sooner than expected!! The feckin’ cheek.

    Yeah, and whos been prosecuted from Anglo?? eh…..

  20. Mini US | November 12, 2009 at 4:12 am |

    @Danny
    Please don’t go to Venezuela.
    I don’t know you, but as a valued member of the Maxkeiser family I implore you.
    You will probably die from malnutrition or a bullet.

  21. Dante | November 12, 2009 at 6:11 am |

    It looks like the US prosecutors should just hand over the reigns to the Italians…they seem more eager to prosecute fraud.

    UBS, JPM Should Face Trial in Italy, Prosecutor Says

    Nov. 12 (Bloomberg) — The Italian prosecutor probing the sale of derivatives to the City of Milan on $2.1 billion of borrowings is seeking indictments against four banks and 13 individuals, according to court documents.

    UBS AG, Deutsche Bank AG, JPMorgan Chase & Co. and Depfa Bank Plc, now a unit of Hypo Real Estate Holding AG, 11 bankers and two city officials should be tried on fraud charges, prosecutor Alfredo Robledo said in a document filed with a Milan court and obtained by Bloomberg News. A judge will rule on his request at a hearing that will be scheduled later.

    http://tinyurl.com/ye4zcr8

  22. Danny | November 12, 2009 at 6:31 am |

    @Mini Us

    Thanks for the concern, not enough love going around for my liking! Yeah, the way the US military is building up in Columbia, one morning I could image a marine kicking down my door in downtown Caracus. (All about peak oil imo)

  23. Danny | November 12, 2009 at 6:32 am |

    (spelling)
    imagine a marine…

  24. THE DORK OF CORK | November 12, 2009 at 6:37 am |

    the Irish gamble may work – we have no control over our money supply so we are taking a bet on hyperinflation removing our debt .please please MR trichet. don’t forget we have a pot of gold under the rainbow guarded by a small(large) green guy named Brian

  25. Mep | November 12, 2009 at 6:40 am |

    Ann Pettifor taking on the Wall St. cheerleaders:

    http://www.huffingtonpost.com/ann-pettifor/investors-beware-the-quac_b_354638.html

    I think this is the first time I saw the carry trade mentioned on the HuffPost.

  26. Danny | November 12, 2009 at 6:47 am |

    @The Dork of Cork

    Another ‘Rebel’ like meself…

  27. THE DORK OF CORK | November 12, 2009 at 7:04 am |

    CORK is no longer the “REBEL COUNTY” ….. that distinction now resides with the people of DONEGAL
    What worrys me is what they are rebeling against.

  28. Gerald Wadsworth | November 12, 2009 at 7:18 am |

    What’s wrong with this picture! Create money out of thin air, give it to the banks, borrow it back and say they are going to use it to pay off the deficit? Scambola!

  29. Gerald Wadsworth | November 12, 2009 at 7:29 am |

    “Property Values

    Opponents including Fine Gael, the largest opposition political party, say banks will hoard the cash rather than lend as they brace themselves for a second wave of bad losses in mortgage and personal loans, and try to rebuild their capital. ”

    Just like the good ol’ USA’n banks. Got the goods and giving it out to their “crucial staff whose performance deserved a ginormous bonus”…the rest they are hoarding for “those lean times ahead.”

    We need to do what Catherine Austin Fitts suggests: pull your money out of the banks. Buy some gold for security. Shop and eat locally. Stop using the big box stores – Walmart, Costco, Sam’s Club, etc. Stop using your credit card – in fact, cut it up.

    If you buy something, don’t get the cheapest foreign made crap. Buy less, but buy better made. Try and stay out of debt. Sell of crap you don’t use.

    Drink single malt!

  30. Danny | November 12, 2009 at 7:37 am |

    @The Dork of Cork

    I hear ya bro…

  31. THE DORK OF CORK | November 12, 2009 at 7:47 am |

    you assume that fine gael wil have any power when / if it wins a election – the truth is the guys in FRANKFURT run the show .The rest is just optics.Ireland is merely a branch of a church and the new Vatican is in frankfurt – policans=priests
    econimists-=theologians european commissioners=cardinals trichet=pope

  32. frances snoot | November 12, 2009 at 9:02 am |

    @DorkFromCork:
    Would Trichet as Pope wield a worldwide dominion or just EU?

  33. Danny | November 12, 2009 at 9:03 am |

    @Gerald Wadsworth

    Where can I get my hands on some single malt? :D

  34. THE DORK OF CORK | November 12, 2009 at 9:19 am |

    that would be a ECUmenical matter…….

  35. THE DORK OF CORK | November 12, 2009 at 9:29 am |

    as regards a good scotch I would recommend “as you get it”, a full cask strength whiskey – 60% alcohol 100prof -both islay and highland varietys- the catch is I can only locate my precious in the western highlands- but it is guarrenteed to kill the pain of this global depression

  36. Gerald Wadsworth | November 12, 2009 at 10:02 am |

    Danny & Dork…Why does that sound like an Irish TV show? :) Danny – Dork is right-on the Malt Money – Islay or Highlands ring doorbells here everyday. Feeling off or slightly wanky, a double shot of the uisce beatha – applied repeatedly until you see double. Sleep and wake up a new Man! The Cure for all ills. Of course, a lifetime of continued use will get you a liver transplant one day…but until then, Drink Up! Slainté…

  37. Tom Joad | November 12, 2009 at 11:16 am |

    RE: TARP to bailout federal govt deficit –

    I create voodoo dollars to give to my bj buddies to bail them out. Now i’ve given out so much I’m bankrupt. Here, i’ll pay some of the bj money back to my own, bankrupt, self.

    Starbucks staying open 4 hrs after supper every night for two customers (two full time staff on duty) – same idea. Office Max with staff of eight (one working) for 3 – 4 customers per hour – same philosophy. “Keep doing it ’till it collapses in a big pile of s***.”

    jeez.

  38. Bill Stewart | November 12, 2009 at 8:50 pm |

    Is China headed toward collapse?
    By: Eamon Javers
    November 10, 2009 05:19 AM EST

    http://dyn.politico.com/printstory.cfm?uuid=DAB3DF2E-18FE-70B2-A8C736A21C10553A

    The conventional wisdom in Washington and in most of the rest of the world is that the roaring Chinese economy is going to pull the global economy out of recession and back into growth. It’s China’s turn, the theory goes, as American consumers — who propelled the last global boom with their borrowing and spending ways — have begun to tighten their belts and increase savings rates.

    The Chinese, with their unbridled capitalistic expansion propelled by a system they still refer to as “socialism with Chinese characteristics,” are still thriving, though, with annual gross domestic product growth of 8.9 percent in the third quarter and a domestic consumer market just starting to flex its enormous muscles.

    and from AJE:
    http://www.youtube.com/watch?v=P-Ef79KcH0Y

  39. Bill Stewart | November 13, 2009 at 12:09 am |

    Odds and sods:

    Reserve Banks you have never heard of ….

    http://bom.intnet.mu/Default.asp?id=Home

    Welcome to the website of the Bank of Mauritius which is the Central Bank of the Republic of Mauritius. Standing at the centre of the Mauritian financial system, the Bank is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy.

  40. THE DORK OF CORK | November 13, 2009 at 5:15 am |

    commercial banks you wish you never heard of –
    anglo irish,norhern rock,citigroup etc etc

  41. Gerald Wadsworth | November 13, 2009 at 7:12 am |

    Every time I go into my SunTrust branch – which isn’t that frequently with design and advertising skills not in demand these days …they throw themselves at you in abject gratitude…”thank for doing business with us, here take some worthless FRN’s, what products can we stick you with, please, get into some more debt and use your line of credit”…makes me wonder when they will be sucked into the giant vaccuum cleaner in the sky for their toxic assets exposure!

  42. THE DORK OF CORK | November 13, 2009 at 7:38 am |

    @geraldwasworth

    the only assets I want to expose belong to those Bloomberg girls.
    If the banks keep the toxic financial Ponzi scheme going for another while I may be able to enjoy the finer things in life for just a bit longer