[eggplant43]

http://www.timesonline.co.uk/tol/new...cle4910883.ece

[Littlefield]

Originally Posted by SlackAli

What really makes me laugh about what's going on is that for years the US and to a lesser extent the UK have lectured the rest of the world on sound economics. Developing economies have been subject to the unregulated free market diktats of the IMF and WTO - American dominated institutions - as well as having their aid packages determined by their adherence to the anglo saxon economic model.

China has been lectured constantly about the problems with its banking structures: ironic really now that, at a stroke, China could cause the dollar and the real US economy to collapse

If China did that where would they sell their products ? US is the major market.
Kinda like that ole saying .If you owe the bank 10,000 dollars the bank has you by the balls but if you owe the bank 10 million you got the bank by the balls

[Paquadez]

China.

Their domestic market is expanding exponentially.

Indeed, just this morning I listened to a BBC radio interview in China with Chinese consumers and government ministers.

Stating how rapidly the deomstic market is expanding.

Look at Korea (South) as a yardstick.

Only 25 years ago, Koreans worked 6 1/2 days each and every week and enjoyed perhaps two days annual leave.

And worked for almost nothing.

Now Korea is one of the most advanced technology countries in the World with the largest saturation of really high speed broadband, for example.

And paying minor charges by cellular phone (car parking etc) is normal.

Samsung are top five global electronics companies.

America isn't the only consumer of Chinese goods either: as India expands it is consuming rapidly.

And so is Europe: and the Euro is much more worthy and stable than the US dollar.

Eventually, at the right time, large holders of external US dollars as reserves will dump 'em increasingly more rapidly on the global forex markets: it's already happening.

As the US dollar value self-depreciates, ably aided and assisted by Paulson and Bernanke, then holder's capital risk exposure diminishes.

The Euro is set to become the World's preferred reserve currency.

[poochee]

Originally Posted by xico

Neither are they. You'd probably do a better job.

But what happened to the billions that were lost in Iraq? They brought pallets of 100 dollar bills in to Iraq, and then they went missing.

And what about the billions missing from the Pentagon?

Somebody knows where they are. Hmmmm. Check the signing statements?

Observing what has been going on for the past 8 years my common sense told me it was all going to eventually blow up! Too much credit to those who can't afford it, too much interest charged, wall street running wild, etc. Temptation everywhere for people to get into debt. Greed and avarice. The "money changers" at work!

[poochee]

updated 4 hours, 19 minutes ago
U.S. debt overpowers National Debt Clock

Story Highlights

U.S. debt has outstripped number of digits on clock in New York City
Durst Organization says it plans to update the sign next year
I will be capable of tracking debt up to a quadrillion dollars

NEW YORK (AP) -- The National Debt Clock in New York City has run out of digits to record the growing figure.

The late Manhattan real estate developer Seymour Durst put the sign up in 1989 to call attention to what was then a $2.7 trillion debt.


Excerpt from: http://www.cnn.com/2008/US/10/09/nat....ap/index.html

[eggplant43]

I believe now is the time for Obama to consider a bolder and more historic approach to the financial crisis by presenting to middle income Americans a step-by-step "big think" FDR-style New Deal program to add greatness and urgency to his economic recovery plan. Tough times call for urgent and big-think measures. Surely, we are in this era, once again.

http://www.huffingtonpost.com/amb-ma..._b_133041.html

[LANMaster]

Franklin Raines, the Democrat who inflated Fannie Mae earnings in order to pay himself fabulous bonuses, earning $90 million dollars, is feeling none of the real estate market pain he helped to create for so many others. The Washingtonian reports:

Ritz-Carlton Residences, for those unfamiliar with them, are the residential equivalent of the luxury spa where AIG sales champions frolicked for a few days. The lucky owners of condos in these RCR developments have access to room service and other services of a Ritz-Carlton Hotel. Buying a condo like Raines's is kind of like living permanently in the well-coddled circumstances of a high roller suite at a high end Vegas casino, while having the permanence and customization of home ownership, along, of course, with the tax benefits.


Raines walked away from the mess at Fannie Mae paying only a paltry settlement. Obviously he is well-set for life.


Where's the outrage?
Why isn't this thief in jail?

AT

[eggplant43]

http://www.nakedcapitalism.com/2008/...investors.html

[iltos]

Originally Posted by LANMaster

AT

fwiw, i've already expressed mine
i know how important conservatives are to you, LAN, but this kind of greed transcends partisan politics, and using it to further emphasize our political division only helps to keep such avarice alive, imo.

in this instance especially, political affiliation doesn't matter.....it's WRONG.

period

[wacor]

Originally Posted by iltos

fwiw, i've already expressed mine
i know how important conservatives are to you, LAN, but this kind of greed transcends partisan politics, and using it to further emphasize our political division only helps to keep such avarice alive, imo.

in this instance especially, political affiliation doesn't matter.....it's WRONG.

period

Totally agree.

When though will some of these people do some serious jail time. Until that happens they likely will continue playing the game.

[iltos]

Originally Posted by wacor

Totally agree.

When though will some of these people do some serious jail time. Until that happens they likely will continue playing the game.

'tis a good question, and feeds the illuminati conspiracy theorists ....the cabal that runs the world doesn't pay a nickel or a shred of skin for their transgressions, it seems

[eggplant43]

There is going to be an abundance of anger on the part of the populace, and a cry for justice. Just how that will work out, I can't imagine at this time. But a lot of people have a lot of 'splainin to do. I'd start with Fuld.

This may be a start, it is not about criminal proceedings, which is what I want to see, but it is a start:

http://www.mcclatchydc.com/227/story..._DC+Newsletter

[eggplant43]

At this point anything short of these radical and coordinated actions may lead to a market crash, a global systemic financial meltdown and to a global depression. The time to act is now as all the policy officials of the world are meeting this weekend in Washington at the IMF and World Bank annual meetings.





http://www.nakedcapitalism.com/2008/...-systemic.html

[xico]

Originally Posted by iltos

'tis a good question, and feeds the illuminati conspiracy theorists ....the cabal that runs the world doesn't pay a nickel or a shred of skin for their transgressions, it seems

Ha! I just bought Robert Anton Wilson's The Illuminati and Cosmic Trigger. I read Cosmic Trigger years ago. A fun book. Wilson says by the time you figure out who the illuminati are, you're one of them.

[xico]

Originally Posted by eggplant43

At this point anything short of these radical and coordinated actions may lead to a market crash, a global systemic financial meltdown and to a global depression. The time to act is now as all the policy officials of the world are meeting this weekend in Washington at the IMF and World Bank annual meetings.





http://www.nakedcapitalism.com/2008/...-systemic.html

And, according to Naomi Wolf, martial law. See the video here. I feel like a wuss. I didn't finish watching it. I should have gorged myself on comfort foods, but, instead, I took Fritz and Lilly for a 3 mile hike.Don't watch it before you go to sleep.