Stacy Summary: Good morning, y’all! Here are some stories I am reading this morning . . .
- Battle of the Titans: JPMorgan vs Goldman Sachs (Ellen Brown, Huffpo)
- Radical Inequality is Killing Us, Literally (Alternet)
Tags: gdp · mirage · radical inequality127 Comments
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Jan 6 fundraiser for Hutchison, attended by Kissinger is mentioned here:
http://tiny.cc/WGIh1
Cost to attend: $7,500.
The Perry campaign pointed in response to a Jan. 6 fundraiser for Hutchison in Dallas with Henry Kissinger. Those who gave at least $5,000 were allowed to take part in a roundtable with Kissinger and Hutchison.
Hey . . . I finally got that article to load . . . Richard Wilkinson is an impeccable researcher. I read his book, Unhealthy Societies: the Afflictions of Inequality when I took a course in the sociology of health, society, and medicine.
Ehrenreich is right on when she mentions the Dem. party in particular; they ignore economic inequality at our peril. I’ve bitched about this in correspondence with a certain former labor secretary . . . he agrees.
Here’s a fun video with Robert Reich
http://robertreich.org/post/358355978/conan-obrien-and-robert-reich
Didn’t know he was responsible for NAFTA.
caldoc
have read the cal-optima is very very slow in paying the doctors for services rendered … is this true??? The system/systems mostly all appear to be on the brink of insolvency.
Having had small businesses, in construction arena, chasing dollars was always an issue. Many of these businesses have folded and walked away.
Neil Reynolds of the Globe&Mail wrote an article comparing the eerie similarities between what is going on now and what happened in the 1700′s
http://tiny.cc/PHW99
Granted, it is more of a book review of Janet Gleeson’s Millionaire: The Philanderer, Gambler and Duelist Who Invented Modern Finance originally printed in 1999, but reissued last year…
@ mep great post!
so the big secret was ‘don’t worry be happy’?
pre-prozac attempts to outlaw american’s favorite pastime, complaining, always failed. Nowadays if you seem angry about being ripped off, you are deemed chemically imbalanced,
financially imbalanced is more like it.
@ Underfunded – Thanks. The Secret, is actually much worse than straight-up positive thinking.
This is but one review on The Secret. Read it and try to shake off the creepy feeling you’re bound to get.
I told peeps here that after I read Ehrenreich’s Bright-Sided: How the Relentless Promotion of Positive Thinking Has Undermined America, I’d tell y’all whether I thought is was worth reading. It definitely is.
@Bonn,
Thanks for posting that Jim Cramer show.
I find it very interesting that in the past the right wing show hosts have repeatedly attacked “conspiracy theorists” about the Tri Lateral commission, Bilderburg society, illuminati.
Now, they are coming out leaking bit by bit saying that, “well, yeah there is something going on but it’s for your own good and they aren’t that bad …..look who is in there the Queen of England….
It’s all designed to get people to accept what is here right now under their noses. Either it means that they figure it’s too late for anyone to do anything about it and they’d better accept it or they are very arrogant and have not understood what the common herd as they call us can still do. I guess it remains to be seen what the general populations can and will do globally.
Stacy, Max what is happening in Iceland?
Yikes! Kissinger backing and advising Hutchinson and Perry.
The UN and the carbon trading cabal is now in Austin Texas implementing the carbon tax structure. I’m hearing at 20% increase in natural gas for homeowners. Billions of dollars spent on implementing windmill farms and these are old green technologies. They are not going to be adequate for present needs or living standards.
@Mep and Underfunded.
This is very creepy.
I experienced this when I had breast cancer ten years ago You would have these people around you armed with these “books” that blamed you for the cancer you had. A positive outlook is very important in life but this goes much further than that. And it’s gotten worse.
I first thought Barbara Erinrich was being somewhat picky and prickly in her recent book, but now I see exactly what she is seeing and the full ramifications of this brainwashing.
I read the posted article the “Secret”…….it’s just perfect. You can blame poverty on the poor, sickness on the sick.
Lloyd Blankfein is not a criminal because he has so much money. He’s brought this to himself through having the right thoughts…..he attracted all that wealth to himself. Why, we could do that right now. Let’s all join hands…….
I used to be proud to be a banker…
http://www.telegraph.co.uk/comment/7112091/I-used-to-be-proud-to-be-a-banker.html
Ehrenreich, meant to say.
@Devcon
If banks go back to being what they were when you trained and worked in a bank you could be proud again. There still are some smaller banks around that are doing just that right now.
But the issue and problem here is a secret banking system that has now shown it’s face to us all . These “banks” have been in the global works for hundreds of years financing war and death. Manipulating soverign currencies, stealing natural resources. This is a monster we’re talking about.
Roubini Calls U.S. Growth ‘Dismal and Poor,’ Predicts Slowing http://tinyurl.com/yevhmaz
Housing `On Life Support’ as Foreclosures, Unemployment Thwart Obama Plans http://tinyurl.com/yf25x64
Six more regional banks fail, bringing U.S. tally for 2010 to 15 30 January 2010 (MarketWatch) http://tinyurl.com/y9ufecx
See also Failed Bank List: http://tinyurl.com/226vl3
L.A.-based First Regional closed by regulators – FDIC cost $825.5 million 29 January 2010 (MarketWatch) http://tinyurl.com/yla4vug
@ naomi – Have you read the book? Ehrenreich, in fact, begins it by speaking of her experience with breast cancer!
http://www.fimalac.com/home.html
@Phil:
Fimalac is a French company that operates Fitch. I wonder why you believe the US .gov is agent behind a French companies interests.
http://docs.google.com/viewer?a=v&q=cache:7JLfeVK7wVAJ:www.havas.com/havas-dyn/site/%3Fpage%3Ddownload%26file%3Dag_2009_ang1.pdf+fimalac+rothschilds&hl=en&gl=us&pid=bl&srcid=ADGEESjP7k6bSliIlvBPIxvJte_R4FI-5R2U_suD8u8K3qkHVk7BZJoFRHHFRFq1RGzNC-5GPUmSwjwcpVZrH-lPmAVnUzfxBfRjnGgrY5WReb2_FvDn6TjW6JrijTqN69djyFYovtSw&sig=AHIEtbTP9aggz2UWFzAn7LW_DFQp-B-55w
Board members: (David de Rothschild sits on the board)
http://investing.businessweek.com/businessweek/research/stocks/people/relationship.asp?personId=863848&ticker=FIM:FP&previousCapId=874249&previousTitle=L‘OREAL
“Banks will deleverage and there will be a new form of global governance.”-David de Rothschilds
http://www.zimbio.com/David+de+Rothschild/articles/4/Baron+David+de+Rothschild+sees+New+World+Order
http://www.guardian.co.uk/world/2009/dec/08/greece-credit-rating-lowest-eurozone
“The Fitch rating agency cut Greece’s long-term debt to BBB+ from A minus . It marked the first time in 10 years that the country has seen its rating pushed below an A grade. The agency cited: “The weak credibility of fiscal institutions and the policy framework … exacerbated by uncertainty over the prospects for a balanced and sustained economic recovery.” It said the medium-term outlook was negative.The debt downgrade for Greece will concentrate Alistair Darling’s mind as puts the finishing touches to his pre-budget report. Darling has to present credible policies for reducing Britain’s budget deficit to head off investors’ fears about the UK’s debt.”
The rating agencies do not work for the government but for uber-rich elites, Phil. The play is a farce.
The ratings agencies collusion is behind the subprime meltdown: why are these same agencies still creating havoc?
Because the nations have been sold into debt by their leaders who also serve the uber-elite.
Krugman, the Keynes cheerleader, is a member of the G30.
@Mep,
I have not gotten the book. But I’ve been reading Barbara’s articles for a long time and knew of her bout with breast cancer. One the longest articles that I read of hers was “Nickle and Dimed” amazing work.
I’ve read reviews of this book and saw her interviewed on Jon Stewart…..so, I think it’s time for me to get the book!
In the article that I read around the time of her breast cancer she was making a point of the fact the cancer TREATMENT was big business and that the same corporations who were dumping chemicals into the environment (that are known to be cancer causing) are the same corporations who make the chemicals for chemo therapy! Isn’t that special!
She also made a point that when we saw the poliferation of the pink ribbon decals, teddy bears with the ribbons, gift baskets with stuff in them with the icon of the foundation for breast cancer research under the name of Brenda Koman (I think that’s the name) which has corporate backing you knew for certain that corporations producing chemicals were behind it all. Making breast cancer as sort of sisterhood, pink and white and cool. It’s to VOMIT!
Barbara really nailed it!
“Moody’s new report says that the context for sovereign risk assessment has changed dramatically since the beginning of the crisis in mid-2007. “This is mainly because of the crisis of public finances that has beset many rich countries in what Moody’s believes will be the final — and disturbingly long-lasting — stage of the crisis,” says Cailleteau.
Moody’s report provides a brief review of 2009, focusing on the rating agency’s interpretation of the challenging events that were triggered by the bankruptcy of Lehman Brothers in late 2008. The report then provides an outlook for 2010 and identifies the key themes which Moody’s believes will shape the state of sovereign risk in 2010.
“The overriding theme is that 2010 will at best see a ‘normalization’ and at worst a severe tightening in government financing conditions,” says Cailleteau. Long-term interest rates may increase more rapidly than expected, driven by the slow unwinding of quantitative easing. The end to exceptionally low financing conditions will expose the true cost of the crisis on government debt affordability across the world.
A further key theme is that Aaa governments will probably not have the luxury of waiting for the recovery to be secured before announcing and perhaps also implementing credible fiscal consolidation programs.
Moreover, as most governments simply cannot afford another financial crisis, they will attempt to ring-fence their balance sheets from selected contingent liabilities. “This could in some cases create disorderly market conditions,” cautions Cailleteau.”
http://www.finfacts.ie/irishfinancenews/article_1018682.shtml
We are IN FOR IT.
Who is Cailleteau?
http://www.spoke.com/info/pArOkty/PierreCailleteau
well if interest rates do go up at a rapid rate as per Moodys report, then they will be a massive rise in repossesions (foreclosures) in the UK.
People already have big morgage repayments based on the fact they were conned into thinking low interest rates were here to stay, with the steep rise in inflation we are seeeing in the UK at the mo and other rising costs, a interest hike will kill off many.
“Positive thinking” sucks. Ok, “positive thinking” positively sucks. There.
I never bought the idea. “Just stop thinking those negative thoughts, and you won’t be depressed. ” Reality is enough to make anyone depressed. *barf* Maybe the “depressed” among us are more able to see the true world.
How do I get an interview with Max?? I just found out about him the other day when someone forwarded me a link to one of his shows. He’s AWESOME!!! I would love to have a chat with him and explain what I call the Two Magic Questions. They are most intriguing to many, but so far no one who has a forum like Max wants to go anywhere near them! A ten foot pole? HAH! No one wants to touch these babies with a ten MILE long pole! I’ve tried to get on Bill Handel’s show- no joy. Tried to get on Alex Jones- no joy. Tried to get on George Noory- no joy. NO ONE that I’ve ever shown them to can give me a straight answer. All that I ever seem to get is some B.S. and harumphs mumbled under their breath. It’s because they cut straight through the crap and nonsense that everyone lives every day of their life.
Randy
JP versus Goldman? Sounds like a good vampire flick. Any chicks in it?
@JGIR – slow payments to doctors
The health reform bogged down in Washington DC is said to be a reform measure on insurers, but the reality is that it is more of a health insurer bailout.
I have previously posted on this blog that the health insurers appear to be counterparties to AIG credit default swaps on premium payments. I believe this was part of the impetus to pass “health reform”, but the Congress did not act fast enough to rush it by the people.
I am personally aware of doctors in Illinois who were still missing payment in November 2009 for clinical care rendered in February 2009.
In California, I am aware of many circumstances where the HMO’s siphon off Medi-Cal money and the actual care givers never see payment.
In the case of the FEDERAL H1N1 vaccines, it is clear that the vaccine distribution was very messed up.
In the case of insurance carrier claims management, it is also clear that the medical insurers have previously lost multiple state cases regarding their malfeasance. Yet, the issues have not been addressed nor corrected.
It is disappointing as a physician to see decades of US training and experience getting wasted by the onslaught of (1) foreign trained doctors who are dominating key contracts, (2) government intervention that has killed many doctors offices, and (3) the deaths of some doctors who were so hurt by the government that they died of the stress involved in maintaining compliance with the regulations.
I am disgusted with the behavior of the federal and state government, and I am fed up with CNN running more medical stories on Port-au-Prince than in our own inner cities.
I have stood in the ER’s as wounded Mexican gang bangers get blasted by the opposing gang. I have seen surgeons save these bastards from the Mexican mob, only to see them recover and shoot someone else. But, we doctors do our job and make the effort to save each person.
We lose our national sovereignty with borders as porous as the California-Tijuana border is.
We then lose our dignity as our children are introduced to the drugs brought north or, now, grown here for “medicinal purposes”.
While US trained, legitimate doctors lose their offices, the city of Los Angeles and State of California permits pot sellers to call themselves “clinics”.