"We The People"

McCain pisses off some more folks

Pale Rider — Thu, 09 Oct 2008 16:50:30 EDT

Evidently, John McCain is determined to alienate as many folks as he can by virtue of his mouth shooting off his foot.

Time put to the nails in John's Coffin

Pale Rider — Tue, 07 Oct 2008 21:05:14 EDT

Tonight is the opportunity Barack has needed to finally put McCain in his grave. I sincerely hope that Barack doesn't allow any of John's lies to stand. Veterans issues, trickle down economic voodoo, $800 billion in "new" Obama spending, McCain's health care "tax break"... all of these need to be pounded time and again.

Not Vindictive, Just Prudent to Invest Billions on Main Street

Ray Pairan — Tue, 30 Sep 2008 20:57:11 EDT

Barack it has absolutely nothing to do with saving our neighbors house that is burning because it might be a threat to our own but everything to do with not risking life and limb to save this same house that is already entirely destroyed by termites. The American people are not being vindictive by wanting to hold back $700 billion dollars from Wall Street but are being prudent by not wanting to waste what may be the last substantial amount of taxpayer dollars before the final decent into the abyss of a global income crisis.

We have one last chance at 'jump starting' this economy and that can only be done from below where 95% of lower to middle income citizens consume by purchasing products and services that are produced by the global economy. Nothing will be accomplished by throwing more and more money at Wall Street in an attempt to get the credit markets lending again because once the investment community became aware of the extent of consumer and business leverage they lost a certain amount of confidence in all facets of the U.S. economy. Both foreign and domestic credit markets are not freezing up but what is actually occurring is a natural reaction to the discovery that U.S. businesses and consumers have overextended themselves in an un-concerted attempt at maintaining a level of economic expansion (lifestyle or revenue stream) that is unsustainable given the continuing drop in consumption spending by consumers as a result of their declining incomes.

Now that both businesses and consumers are facing the reality of the real market economic forces that act to stabilize out of balance conditions, all facets of the economy are crying for immediate relief even those such as the financial institutions that will just have to write off or write down most of the over valued credit assets that their customers both businesses and citizens are unable to continue to carry.

Until the 95% of low to middle income U.S. citizens are afforded a substantial increase in income (equated to all the lost income never received from years of productivity gains) the global economy will continue to tank. No other option remains - either use the $700 billion (more required) to 'jump start' this dying income starved economy or watch it decline to the point of no return.

Also, we shouldn't believe everything pandered by the sensationalist media parrots especially when it regards Economics. Investors moved back into the markets today mainly to acquire 'dirt cheap' bargain stocks and investment instruments not simply because they even remotely expect help in the form of a bailout from the U.S. Congress or that if it did transpire would have any effect on confidence anyway. Therefore, what all of us should attempt to do is maintain a link to reality based upon the facts of each day and not take credence in any neoclassical Economic ideology predictions that are rooted in policies that have brought us to this calamitous point in time.

Moving our economy back to a higher level of consumption spending that is not based upon consumers who are over leveraged and businesses that are equally overleveraged because their income is being drained off by greedy executives and board members must be the goal for our nation. Draining more income from the 95% of low to middle income citizen taxpayers in order to invest in worthless debt related assets that would be better purged from our economic system entirely does not lead to a sustainable economic system nor does it help in resolving our current chronic income crisis - it only makes matters worse. We need to invest in America not throw what may be our last remaining dollars that haven't yet been devalued (given time) to the point of being worthless up into the wind, only to be blown across a fast encroaching economic desert.

We have the power to thoughtfully address the income crisis which is the root cause of our economic calamity but only if we remain open-minded to all approaches that are centered upon getting substantial income in the hands of average Americans who will faithfully spend (representing 2/3's of GDP) it on products and services. Not only is it the economically sensible thing to do but the morally right thing to do.

http://structuralEconIssues.blogspot.com/

Essays - Get Income to Main Street

Ray Pairan — Tue, 30 Sep 2008 07:20:18 EDT

All the below essays may be read at-

http://structuraleconissues.blogspot.com/

o Use $700 Billion to Stimulate Real Economy
o Fast Bailout of Wall Street â€" No Help for Main Street
o Stand Up Citizens - It is Time to Be Counted
o Death of the Great Consumption Engine
o Stepping from the Past into the Future
o Our Nation’s Dying Debt Engine
o $700 Billion to Feed the Supply Side Monster
o $700 Billion Bailout â€" Reverse Robin Hood Effect
o Financial Pollutants, Government Bailout, and HOLC
o Great Depression History Propaganda Spread by Elite
o Income Drained From Below Covers Losses of Elite
o Federal Toxic Debt Clearinghouse â€" Cleansing Debt from Books
o U.S. Treasury Open To Loot â€" An Economy Spiraling Down
o AIG Raids U.S. Treasury â€" Lobbyists Work Pays Off
o Root Causes of Our Current Income Crisis
o Acquiring a Rational Economy
o Workers Demand Democracy Not Machiavellian Evil
o Income Crisis - Accelerating For Impact into Economy
o They Sacrifice the Dreams of a Nation
o Building a Foundation of Understanding
o Completely Nationalize Freddie Mac and Fannie Mae
o Deflationary Stage of Income Crisis Reached
o The Illusion of Justice

YOU Load Sixteen Tons and What do YOU Get?

Rob-33704 — Tue, 23 Sep 2008 16:05:14 EDT

It was easy to come away from the senate hearing today with the impression that there is
"....no guarantee that the taxpayers won't get caught holding bad debt that can't be recovered."

Actually there was a guarantee stated during the hearing today. It was easy to miss because the senators and the technocrats did not want to talk about it openly so they used code.

The guarantee is that YOU will pay the "hold to maturity price" for these bonds, notes, etc.
That means their full remaining value.

If the instrument is a 30 year mortgage the "hold to maturity price might be 98% of the total principal and interest involved in the mortgage. That means if the loan was $100,000 with a fixed interest rate of 10% for 30 years the total value of the mortgage is $322,599.60.

YOU will pay $316,147.60 for this item. IN THEORY a 2% profit would mean that you would then make $6,452.00.

I say ‘in theory’ because YOU must remember that these are "toxic" loans - meaning they are not "profitable." Most have probably already been "monetized" - sold to and redeemed by an investor - one or more times. Most are probably already in default.

That is why they are "toxic" - the fascio-corporatist financiers and bankers of the wall street cabal cannot use them to borrow money from other investors. They have no value.

Anyone who sold them to an investor would be sent to prison for fraud because when the investor comes to redeem them there will certainly be no money with which they can be paid.

The shareholders of the institutions which monetized them are suppose to pay the investors but they DO NOT want to pay the investors.

They want to sell them to YOU at full price. YOU will SAVE their houses, their cars, their money, their retirements amd their rear ends.

Who are they? Some of them are the same people who were talking to the senate committee today demanding that YOU bail them out.

What will you get for this act of stupidity - I mean kindness?

Like Tennessee Ernie Ford use to sing, "Another day older and deeper in debt."

You are about to learn that there was a reason for all those old union songs. They knew what it was to be exploited - and YOU will also.

So go ahead. YOU bail them out.

If we are going to give away the farm to the fascio-corporatist financiers and bankers of the wall street cabal we should at least get something for it.

Rob-33704 — Mon, 22 Sep 2008 18:29:51 EDT

If we are going to give away the farm to the fascio-corporatist financiers and bankers of the wall street cabal we should at least get something for it. The minimum acceptable conditions for the bailout are:

1. Free healthcare for all citizens.

2. Full Social Security retrirement at age 50.

3. $15 per hour minimum wage.

4. High protective tarriff on all goods manufactured outside the U.S. by "American" companies.

5. Tax rate of 75% on trust funds.

6. Confiscation of all property of all shareholders with an estimated wealth of $100,000 or more.

7. The elimination of taxation on incomes of less
than $75,000 per year.

And you know what it is still a good deal - for them.

Conflict of Interest - The chairman of the U.S. Securities and Exchange Commission (SEC) Must Resign.

Rob-33704 — Mon, 22 Sep 2008 13:35:31 EDT

SEC chairman Christopher Cox was a partner in the law firm of Latham and Watkins. At the time of his retirement in 1986 Cox was the Partner in Charge of the Corporate Department of the Orange County office and was a member of the firm's national management.

Latham and Watkins is ranked among the largest law firms in the world. Notable clients include Goldman Sachs, Deutsche Bank, Merrill Lynch, and ICICI Bank Ltd. Of India.

On January 31, 2008 ICICI Bank (formerly Industrial Credit and Investment Corporation of India) reported losses of $264 million as a result of the subprime mortgage crisis.

As a retired partner of the Latham and Watkins LLP Cox undoubtedly owes a great deal of allegiance to Latham and Watkins. Latham and Watkins involvement with Goldman Sachs, ICICI Bank and others constitutes a conflict of interest which can not be tolerated during the current financial crisis.

Christopher Cox must resign his position as Chairman of the SEC. If he does not resign, he must be fired.

Memo To The secretary of the treasury Subject: How to Solve the Current Economic Crisis

Rob-33704 — Mon, 22 Sep 2008 09:50:12 EDT

Henty Paulson - the secretary of the treasury - is a former chairman and ceo of Goldman Sachs where he was responsible for selling the same type of worthless securities he is now making the people of the United States pay for.

Paulson's estimated personal wealth is more than $700,000,000.

That is about 1% of the proposed bailout. All we need is 99 more of the fascio-corporatist financiers and bankers of the wall street cabal to ante up what they owe and this little problem is solved.

If Social Change Programs Cannot Be Funded How Can Obama Win ?

Rob-33704 — Sun, 21 Sep 2008 14:50:31 EDT

The financial bail out being comtemplated by congress will consume hundreds upon hundreds of billions of dollars. If Senator Obama is elected president how will he fund the programs for change which will be the basis of his victory?

The answer is, he will not be able to fund them. Will the people of the United States fail to understand this before the election? No, they will not.

Will the electorate vote for "change" knowing that their hopes will not be fulfilled? No, they will not.

Congress may be debating whether, ‘to fund or not to fund?’ The question for the Obama campaign is, "To be or not to be?"

In 1925 Republican President Calvin Coolidge said, "....the chief business of the America people is business." The continuing bailing out of the fascio-corporatists of the wall street cabal is not change. It is simply business as usual.

The Secretary of the Treasury Must be Fired

Rob-33704 — Sat, 20 Sep 2008 19:57:48 EDT

Henty Paulson - the current secretary of the treasury must be fired

Paulson is a former member of the International Monetary Fund Board of Governors.. The IMF was founded by members of the socialist Fabian Society of Great Britain. Members of that society established both the World Bank and the International Monetary Fund at the Bretton Woods Conference.

The economic philosphy of these organizations favors the redistribution of wealth from the industrialized nations to the less wealthy more authoritarian regimes of the third world.

Paulson is a former chairman and ceo of Goldman Sachs where he was responsible for selling the same type of worthless securities he is now making the people of the United States pay for. His estimated personal wealth is more than $700,000,000.

The defense of western economic prosperity cannot be effectively championed by an opponent of that prosperity. Paulson must go.

Like I Said - There Is No Gridlock

Rob-33704 — Sat, 20 Sep 2008 18:30:44 EDT

If anyone needed proof that the fiction of gridlock in Washington is just that - fiction - the current financial crisis is certainly that proof. The total disregard which the politicians of both major parties have shown for the best interests of tens of millions of citizens is appalling.

We must therefore seek to enact a constitutional amendment which will require that the ballots used in all elections will have an entry for "NONE OF THE ABOVE". If no single candidate gets more votes than NONE OF THE ABOVE then a new election would have to be held to

fill that particular vacancy. None of the candidates whose names were on the ballot would be allowed to run for that office in the follow - up election, no exceptions.

This would make it impossible for the politicians to ignore the will of the people and still remain in office.

Banking 201 - How to Make Money by Going Broke

Rob-33704 — Sat, 20 Sep 2008 13:13:09 EDT

At this point it is important to remember that we aren’t really talking about loans for $1,000. We are talking about loans for hundreds of billions of dollars. It is also important to remember that it isn’t people that the banking industry is concerned about. It is organizations - corporations and governments - which the industry is concerned about.

The financiers and the bankers want these organizations to be paid. They and the organizations are intertwined. They serve on each other’s boards of directors, and own each other’s stocks and bonds. It is they who profit from building the infrastructure of these nations. In effect, it is the financiers and the bankers who are demanding to be paid.

The financiers and the bankers want the debts paid just as they wanted the governments to build infrastructure with the money which they loaned to them. Both activities generate profits for them. They just don’t want to pay themselves with their own money. That would not be profitable for them.

The banking industry created the Federal Reserve, the FDIC and the other monetary agencies for just this purpose. The "government" representatives of the financiers and the bankers now step forward to ensure that the financiers and the bankers continue to make profits. How? By paying them with YOUR money.

Their representatives in government will say that it’s the government’s money but it is YOU who will guarantee that the financiers and the bankers make their profits. It is YOU who will pay the costs imposed by inflation. Prices do not get higher. Your money becomes more worthless.

The financiers and the bankers simply increase their profits. They can continue to buy whatever they want. Can YOU?

Psycho Alert

Rob-33704 — Sat, 20 Sep 2008 10:06:43 EDT

Most of you have probably already surmised that our Party Builder site has been infiltrated by a few rogues who are determined to cause chaos in our ranks.

There is no need for me to name them. Those who have been here for awhile already know who they are. The Bible tells us that we will know those practice evil by their "fruit," So if you don’t already know them - just watch and learn.

I have enjoyed our free wheeling debates here on PB but at this time there really seems to be no point in continuing to participate in them. My posts contain enough information for anyone who wants to know more about a particular issue to be able to do so.

I will continue to post here but from now on I will not respond to any comments or attacks which may be attached to my posts. After they are posted I will not even check them again.

The purveyors of chaos may talk to themselves.

Meet The New Boss, Same as the Old Boss

Rob-33704 — Fri, 19 Sep 2008 18:38:54 EDT

Some people seems to think that the people of this country are willing to exchange one group of money grubbers - who prefer coal - for another group of money grubbers - that prefer green.

As The Who wrote many years ago, "Meet the new boss, same as the old boss."

Now - that dog certainly ain't going to hunt.

Paulsen Can Stuff the Bad Debt

Rob-33704 — Fri, 19 Sep 2008 17:23:29 EDT

As I wrote earlier:

"If the borrower is unable to make payments on the loan it ceases to be a bank "asset" and the $1,000 loan asset disappears from the bank’s books. The $1,000 liability remains, however, because the money is circulating through the economy."

My question is, "Why shpuld you have to pay off the debt?"

Did YOU get the interest paid on these various instruments? Are YOU getting to walk away free as the financiers and the bankers are doing?

If the answer to these questions is no - then why should YOU pay for it?

Not No but HELL NO

Rob-33704 — Fri, 19 Sep 2008 14:19:01 EDT

In a previous post entitled "Banking 101" (link below) we discovered that the U.S. banking industry engages in fractional banking. This means that only a small amount of the money "deposited" in a bank is required to be kept in the bank’s vault. Most of the money is loaned to other customers.

When a customer obtains a loan - let’s say for $1,000 - the bank records the amount of that loan as an asset because the bank will collect interest on the loan. The amount of the loan - $1,000 -is also recorded as a liability by the bank because the money is now in "circulation." The banks "books" are in "balance" (pay-out of $1,000 equals the loan asset of $1,000).

If the borrower is unable to make payments on the loan it ceases to be a bank "asset" and the $1,000 loan asset disappears from the bank’s books. The $1,000 liability remains, however, because the money is circulating through the economy.

Eventually someone will demand payment of that $1,000 from the bank. The bank can use a $1,000 from the profits made with other loans to pay that liability. If that is not possible the $1,000 must then be paid by the banks owners - the shareholders.

It is at this moment of peril that the brave foot soldiers and daring risk takers of American capitalism - the shareholders - show what they are really made of. Like the poltroons and charlatans that they really are they now call for others to be sent forward into the front lines of adversity.

They have enjoyed the benefits, the tax write offs and the income from extortionist interest rates

but they certainly have no intention of giving up THEIR money to pay the piper. It is for this purpose that the Federal Reserve, the FDIC and the other monetary agencies exist.

The heads of these agencies now step forward and rescue their relatives, friends, benefactors, business partners and - of course - themselves from the barbarian hordes who want "THEIR" money. How? By giving the barbarian hordes "YOUR" money.

Oh yes, they say that it’s the government’s money but we know better. In comparison to the amount of wealth that they control those stalwart capitalists do not really even pay taxes.

This is the use of leverage on a macroeconomic scale. Once again OPM (Other People’s Money) has made them a profit.

Don’t tell congress just no - tell them HELL NO !

For this much money we could pay EVERYONE unemployment for YEARS !

The choice is simple - the poltroons and the charlatans can have a better life - or YOU and your CHILDREN can have a better life.

Federal Reserve Chairman Must Go

Rob-33704 — Thu, 18 Sep 2008 17:06:13 EDT

Ben Bernanke - the current chairman of the federal reserve must be fired

Bernanke is a graduate of the London School of Economics. The school was founded by the socialist Fabian Society of Great Britain. Members of that society established the World Bank and the International Monetary Fund at the Bretton Woods Conference.

The economic philosphy of these organizations favors the redistribution of wealth from the industrialized nations to the less wealthy more authoritarian regimes of the third world.

Bernanke is a recognised authority on the Great Depression. He understands very well the massive shift in wealth which was the real cause of that tragedy.

The defense of western economic prosperity cannot be effectively championed by an opponent of that prosperity. Bernanke must go.

How Bad Will Things Get?

Rob-33704 — Thu, 18 Sep 2008 13:04:37 EDT

I do not know how very, very nasty all of what is going on right now is really going to get.

I do know that at some point we will arrive at the abyss and we will either choose to reconcile or we will not.

If you think the Bushites were unwilling to use force after the 2000 election to get their way - think again.

The abyss was before us then and a wrong choice was made and now we are at this point in our history and another abyss is fast approaching.

Lynn Forester de Rothschild

Rob-33704 — Thu, 18 Sep 2008 10:53:19 EDT

Yesterday fellow democrat Lynn Forester de Rothschild endorsed Senator McCain, and republican Michael Riordan endorsed Senator Obama.

Lynn, thank you for your many efforts on behalf of our party. We look forward to your speedy return to us after the election.

Mayor Riordan we are glad that you have endorsed Senator Obama. We hope that you will decide to remain with us after the election.

May the LORD bless and guide you both.

May the LORD bless and guide the United States of America.

Herbert Hoover

Rob-33704 — Wed, 17 Sep 2008 16:26:43 EDT

The republicans still worship the guy.

Check out this link

Link