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Here Comes Stimulus 2.0
In this Bloomberg clip, commerce secretary Gary Locke says that "if there is to be another stimulus -- and that’s being
hotly discussed and very seriously considered within the
administration as well as members of Congress -- it needs to be
very targeted, very specific and we need to be very mindful of
the deficit as well.In other words, with unemployment not improving after the first $787 billion was spent, with GDP improvements having peaked, and since at this point nothing matters since America will never be able to realistically service its debt, with mid-term elections coming up, and Obama's rating plummeting even despite an orchestrated 50% rally, it is a matter of months, if not days, before the President unveils another multi-trillion Treasury sinkhole. And since no horrible policy decision can go unused, the next stimulus is likely to be promptly followed by the Chairman announcing the next iteration of Quantitative Easing.
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Who did not see this one coming?
I mean.... srsly.
Q: Both personal income and disposable income were down in Q3, so what's a Gov to do?
A: Spend someone else's money
Ramblings from Sancho
In any country there are those in the private and public sectors who are willing to line their own wallets at the expense of others. The problem arises when the people in charge of containing the corruption become careless or worse yet, corrupt themselves. In a society where regulators fail to regulate, the end result is a breakdown of law, justice and equality, and ultimately, trust.
Such an event does not happen overnight. As a society matures and prospers it is natural for elected officials to try and spread the wealth (or at least the appearance of spreading wealth.) Entitlement programs sprout up like mushrooms after a soaking rain, and markets are manipulated to increase consumption. While one can argue that entitlement transfers and increased consumption can be a good thing, selling homes to those who cannot possibly afford the payments and creating policies that benefit bankrupt corporations at the expense of the prudent is neither just nor proper.
As the economic climate degrades and the inevitable asset bubble begins to implode, those dependent on a skewed market or economic bailouts get desperate. If the regulators are doing their jobs, fraud is exposed and those responsible are prosecuted. Similarly, financial corporations that had bet the farm on risky investments are taken over and reorganized. To prevent future meltdowns, the legislative regulators draft bills to limit leverage and prevent fraudulent lending practices. The economy eventually heals and begins to flourish.
If the regulators are influenced by cronyism, greed or intimidation, a severe economic downturn may result in the creation of a huge societal rift. The chosen few who were saved at great expense return home to their penthouses while the middle class gets stuck with the tab and an underwater mortgage. The myth of equality is irrevocably shattered as Joe Sixpack loses all trust in Government. To appease J6P, the Government juices up the economy by creating money and dropping interest rates to nothing. But because there is no trust J6P refuses to increase consumption. The Government does everything imaginable to encourage the purchasing of homes and other durable goods to counter plunging tax revenues and staggering deficits, but J6P's balance sheet is in no condition to take on more debt. J6P's disposable income drops further as new sources of tax revenue are explored and signed into law to counter revenue shortfalls.
J6P grows disillusioned as the income gap between the middle class and the unemployed vaporizes. Heads roll in the next round of elections but without proper regulation, the party in charge is of no consequence. In a world without justice or trust, it's every man for himself. The criminals and lackeys responsible for the collapse emerge stronger and more arrogant than before. With a taxpayer backstop, they push risk to a new level in yet another attempt to fleece working class. Deception, greed and outright fraud are irrelevant as regulators turn a blind eye. Political whipsawing ensues as voters choose fringe candidates from either party in a desperate attempt to fill the rift. As a result, boom-bust cycles increase in frequency and amplitude until the financial shocks can no longer be absorbed. Without proper regulation and incentives, any free market economy is destined to fail.
Thanks Sancho. May I add, from Ayn Rand:
"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed...
"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper... Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'"
...End the Fed.
At least Audit it, all of it.
To think Greenspan once penned this for her newsletter:
http://www.321gold.com/fed/greenspan/1966.html
Sancho, I think you were just junk flagged by Ben or Timmay!
Great quote from my favorite book. Thanks
One of my favorite quotes, and quite salient Sancho.
A few facts:
Sometimes I don't think citizens or representatives understand the facts above, I sometimes feel lonely in the realization of how corrupt the system is and feeling that few understand this. If we have the leading military in the world, why do our representatives let the tail of the central bankers wag the dog (US govmt)? I know the military basically enforces the commercial interests of corporations, but why is banking so over-represented - have they taken over ownership of most of the corporations and industries? If they have taken them over, people need to realize they did it illegally with their own printed paper and are therefore not the rightful owners. Any thoughts, where am I wrong?
From Ron Paul, "It is imperative that the American people know what the Fed is up to, how much money it loans to banks and what types of agreements it enters into with foreign banks and governments. Just about all of this information is exempt from audit or oversight. The Fed's actions directly affect the value of the dollar, which is coming under increasing pressure from our foreign creditors. If we do not wish to see a complete collapse of the dollar, the Fed needs to be subject to a strict audit of its actions, if not an outright abolition of its charter...
The Fed's influence comes about because of its monopolization of the creation of money. If we could abolish the government monopoly on the creation of money, the Federal Reserve would be forced to clean up its act or go out of business. Economists know that monopolies lead to reduced output and higher prices, a suboptimal allocation of resources. This applies as well to the market for circulating currency as it does to markets for any other good...
The final barrier to competing currencies: Laws that assess capital gains and sales taxes on gold and silver coins. Under federal law, coins are considered collectibles, and are liable for capital gains taxes. These taxes actually tax monetary debasement. The purchasing power of gold may remain relatively constant, but as the nominal dollar value increases because of a weak dollar, the federal government considers this an increase in wealth and assesses taxes...
Thus, the more the dollar is debased, the more capital gains taxes must be paid on holdings of gold and other precious metals.
The long-term strength of the dollar will only be weakened by maintaining the Fed's monopoly on our monetary system. Our foreign creditors are already moving to dethrone the dollar as the world's currency...
The prospect of American citizens also turning away from the dollar toward alternate currencies should provide an impetus to the U.S. government to regain control of the dollar and halt its downward spiral."
And that is the way it is folks....
Don't be lonely. I am with you.
We need to form a support group here on Zero Hedge for those of us that recognize the biggest swindle in the history of mankind.
Let's meet in the basement of Lou's Tavern.
Hang out and see what happens.
Your "pretty interesting theory" you have, I have had that type of thought before, but I thought they were going to do it to Citi (AIG zombification, life support cash blood flows to the rest of the system), but I did not think of it from the point of the CBs. The problem I see with the theory is that they are not like AIG, primarily insurers. So while the idea feels right, and it is possible I don't understand aspects of how Citi and BofA function compared to AIG, I had ruled it out because they were not insurers. I had gotten to the point of thinking about corporations without loyalty to countries, but not the CBs. That takes it up a notch and would explain why there is soooo much cooperation between these units/corporations. It is clear we are being used and tossed aside like a third world country (or if I may be so crude, like a used condom).
AN, you give good post.
The safest bet I can think of is that the government will keep running deficits to try to keep unemployment from going too much above 10%. And a decent bet is that households and institutional investors will pump money into treasuries until treasuries are a goodly percentage of their net worth, and that will keep a damper on inflation and interest rates for longer than most people thing, and thereby, allow deficits for longer than most people think.
Not that I'm happy about any of this, but what can you do.
Who is John Galt?
You are kidding, right? I mean, unemployment is truly waaaay above 10% (try around 28% to 34% -- seriously!).
Secretary Locke is the same sec'y who has given waivers to companies receiving "Stimulus I" funds to allow them to buy foreign, and offshore those "green jobs."
I mean, once the few green jobs which are actually created from those funds are registered in the USA, then they are immediately offshored.
Please remember, Secretary Locke is the former Gov. Locke of Washington state, who offshored state jobs at 49 out of 51 state agencies.
The dood's got a record.....
And the Fed is the one who is pumping money into treasuries (including some of their offshore "companies" which are doing some of that purchasing), plus Goldman Sachs, Morgan Stanley, and others, doing their naked short selling on that exchange of theirs, ELX Futures.....
You have to wonder at what point someone in govt will wake up and realize that, just maybe, unemployment is above 10% BECAUSE of the stimulus.
marginal productivity of debt is negative....
recovery is impossible.
Good luck with that...
You're in WA, too no?
I appreciate your comments and will buy you a beer near Seattle if you want some time.
His handlers walked this statement back:
http://www.bloomberg.com/apps/news?pid=20601068&sid=aESN4VBewLDA
i saw that article.
the deal is that no admin official can use the word "stimulus".
they can spend another kazillion trillion, but it will never be called "stimulus".
FDR's CCC v.2.0 coming soon to a neighborhood near you.
This cannot be happening! Help me...I've fallen and I can't get up!
Here are a couple of useful synonyms for "stimulus" that could perhaps be used...
1. bang
2. boost
3. catalyst
4. encouragement
5. goad
6. impetus
7. impulse
8. incentive
9. incitation
10. inducement
11. kick
12. propellant
13. push
14. shot in the arm
15. spur
16. turn-on
17. urging
If it was up to me, I would go with a "shot in the arm" -- but I guess that would be too confusing; with the H1N1 flu vaccination and all. Maybe a kick (in the ass) would work...
You forgot K-Y warming gel...for that warm anal probe it really stands for.
"Boning"
I can hear Obama saying it now:
"My fellow American citizens. We warmly invite you to bend over and grab your ankles. I have been meeting extensively with members of Congress, and we have agreed to the creation of a new Boning Package. No longer content with financially raping you, we have decided to rape your children, your grandchildren, and all your descendants in perpetuity."
obama and fellow american citizens is an oxymoron.....
www.obamacrimes.com
Mr. Monmick:
Thank you for the excellent suggestions. I've got most of them on my list, but number 12 is a real killer! Fuck you.
Rahm
First, I would like to thank you
Unconditionally and without reservations for your kind words.
Certainly, you will understand how touched I am by your great
Kindness. As you can appreciate, it is my hope that by
Year end, this terrible mess will be
Over and things will be back to normal for all of us.
Until then, I can only wish you and
The administration the best of luck
On your many important endeavors and please
Offer my best to the President and his lovely family.
Arnold, Governor of California
Arnold:
Fuck you steroid breath.
Until you can rout out those southern cali right wingers, you will not get a cent of propellant 2.0 money. And, tell that right wing fuck Issa to leave my squid buddy bill dudley alone.
here's wishing a 900 barbell falls on your throat, crushing the life out of you and barbara boxer becomes the next governor of california.
ps....stop sending those semi nude pics of you in your dick suit to barney in exchange for him agreeing to backstop future cali municipal bonds. it ain't gonna happen unless you guarantee a Dem in every fuckin' cali congressional district.
DH is on a roll tonight! Let em rip buddy!
Howard:
I've asked DH to contact you to advise that you hold off any $52 put buys on the "diamond boy" company as he will likely be the next treasury secretary in short order.
You see, I am modeling the timing of the political ramifications of terminating (with prejudice, naturally) that little phuck geithner, primarily because he cannot lie worth a shit and he is making our team look pretty silly because of the lack of this critically strategic skill set. For fuck's sake, even our worshippers at HuffPo have a picture of that little premature ejaculator on their headline every day because he cannot properly spin the incestuous and symbiotic relationship with my good friend lloyd blankfein. If turbo boy was doing the right job, the huff po-bama sycophants would have lloyd on a pedestal alongside with, well, Barry O himself: you know, a force for good, an agent for change, and, errr, a champion of transparency. Anyways, I digress, though it is fun when larry and I laugh our stones off whenever that stuttering little squirrel gets up in front of a microphone or camera. You should have seen the fucking projectile diet coke vomit coming out of fat larry's nose when Tim most recently did his "we support the dollar" gig for the 800th time in the last two months.
Anyways, back to the diamond boy. Naturally, upon assuming this important job as assistant to larry summers and the goldilocks gang, jameroo will do everything humanly and legally (wink, wink) possible to assist the bearded buffoon in destroying the US dollar and, most importantly, selling those Obama propellant bills and bonds to the fed, chinese, american banks, and, hopefully, joe 6 pack, in order to fund the important campaign work, excuse me, I mean economic recovery work that the Obama admin is committed to. The only thing jameroo asked for is for our good friend mary schapiro to keep busy by looking the other way investigating odd lot daytraders in brooklyn while the jpm trading desk uses that fed honey money to jack jpm commom into the fucking stratosphere. I guess the moral of the story is you better forget about the put crap and start going long jpm.
Rahm
*applause* Very well done!
Dear Rahm,
How dare you try and talk for my comrade DH. He possesses utmost wisdom and is a serious truth seeker--his DNA shows no ostrich ancestors--which means the sand in his hair is from a long ago surfing trip. There was one particular gene in question--the Garcia gene as it is known at HGSI--but it turned out to have an R-squared of .066 for all people born in that particular year. The Lennon gene was slightly higher but within the normal range. Care to give a sample of yours?
Truth be told, you need to stop banging Shapiro. We know your strategy--keep her coming until the last Viagra runs out. Then she might show up for work. That Linda Blair thing you do with her is amazing. Put it up on Youtube...the chicks love you even when she spews stimuli on you.
As for my dimon trade---it's investment grade with perfect clarity. No lasers here to brighten it up. Just wait, you and Dimon will make such a perfect pair that between the two of you, the Lincoln bed will be way too small. Better ask for a kingsize bed because you can keep this orgy going on for months. I mean seriously, BB doesn't need to get laid--he has an AP for that--but you and JD will be like drunken sailors awash in amazing liquidity. Sail on, sail on, sailors. Don't forget the lube--you're gonna need it.
Jamie and Rahm went up the hill to fetch a bailout for Morgan.
Jamie fell down, upon his crown, and Howard's fortunes were golden.
Enjoy it while you can Rahm,
Howard
Damn, I hope I am forgiven for the other thread action then Howard......
We're just fooling around. Of which do you speak, Miles?
beautiful Howard! starts my day off with a much needed and welcome laugh of approval! love the Garcia and Lennon take....2 of my very favorites.
deadhead,,
I have to say that was a comprehensive and penetrating speech, Keep the good works flowing..
What does Ahnold have to do with this, Idiot. And, Issa is trying to generate support to audit the Fed.
Barbara Boxer is a joke and you take every dem in Cali and flush them all. They are all a waste of time and space.
Sounds to me like DH was doing his best RHAM-bo impression.
"barbara boxer becomes the next governor of california."
A) You're giving me nightmares.
B) We have right wingers? Impossible. We are a bellwether (code for progressive)
IOU for that one. Thanks!
You've got serious typing issues. What happened? Too much time in the jungle?
I may be wrong, but I suspect that neither you nor deadhead got the message. Kudos to Howard...
PLUS, it's hard to type when your hands have been cut off...
Interesting that you knew that detail about him,,WFB See you later aligator.
You forgot the recycle of the old favorite - Investment
I like "juice", as in "The PPT juiced the Dow and SPX today in the last 30 ninutes of trading."
jeez somebody just junked all these posts. get a life, whoever did it.
Whoever flagged you as junk needs to realize their frontal lobotomy was "just a bottle in front of me". Nuff said. It's only Monday.
It's a 'job creation initiative'.
Which is but an add-on module for TGD 2.0
Well, we know it's true. AMERICA.. FUCK YEAH!
Pass the gravy, who gives a fuck at this point.
My guess is all those hooker stocks Robo always refers to, that's who.
OK, say what you want, but those are friends of mine, and contrary to your claims and Robo's they have no steak,,,
Don't forget, the government ran the Chicken Ranch into the ground...but Amtrak still survives.. go figure.
Oh, you mean stocks?,, well, whatever
And, Volcker came out today saying Obama wants to cut "reliance on consumer spending." Guess any Stimulus II is going to be tied to exports, if you read between the lines:
http://www.reuters.com/article/GCA-Economy/idUSTRE5A15R920091102
I thought Volker made it pretty clear in his interview with the purple dress than it was ALL tied to exports, thus the weaker dollar strategy. No lines to read inbetween.
Last week a sign went up about a block from my apartment building. It reads:
Every morning now when leaving for work, I see about six DPW workers standing around and talking. This is followed by angry cursing under my breath.
I guess I can now look forward to paying a crew of twelve DPW workers?
Since I was a kid, that never left the landscape... Lean on your broom, brother..
If you have flown in the past few months, you can see the government trying hard to boost those employment figures courtesy of the TSA. How many TSA employees does it take to watch passengers embark on a plane or test "suspicious" liquids in soda bottles purchased atan airport and partially consumed on the prior connecting flight? A lot more than you might think....
Re Stimulus 2.0 - cancel what's left of "Stimulus" 1.0 and start over on infrastructure only projects. Or better yet, don't spend it and start work on figuring out how the government can do less with less.
so can we all just get welfare and our house paid for in return for 50-70% taxes?
Sorry, 70% isn't quite enough.. 90% plus first born with no tax deduction... Move along..
Let the little lady in here..
who needs taxes when you've got a helicopter.
The fourth time is the charm? (Bush/Dem rebate checks, TARP bailouts, Obama Stim 1, Obama Stim 2)
Oh, The humanity
The stimulus money is hard at work in near me too. They are lining a road of the local Junior College with trees. Cost is $1 million dollars.
One would think that those $1 million dollars would be better spent on a research grant instead of making a road look prettier.
you need to think in to the future
firewood
There's some funny people in here. Somebody ought to roll this up and turn it into an HBO comedy special.
In 5 years they will have to repair the sidewalks, dig out the roots, and rooter the plumbing. It's the gift that keeps on giving.
seriously does it really matter?..we could never pay back what we owe now..what's another few hundred billion or even another cool trillion
if the world is stupid enough to fund our deficits at these insanely low interst rates ..let's do it!!!!
Rock on, you are there, dude!
They're stuck on stupid....epic stupid.
Stupidity is only able to validate itself you cling to it mercilessly until it either works or everyone forgets that something stupid doesn't exist any more. That's why god defies logic. Because 1. It's a liar full of paradoxes and confusion and 2. Logic defies God back.
It's only money, er, clownbux.
The new face of the greenback:
http://homepage.mac.com/dtrull/pix/idiotcash.jpg
Idiocracy, yep.
I still say this should all go to building rape tunnels. I mean every community needs to have one.
http://www.youtube.com/watch?v=1MOcm_7AinI
Lame.
Oh as long as it makes things better. Dancing with the Stars is on and you're interrupting it.
It's like doomsday 24/7 around here. Let's dance. I hear the ZeroHedge crew enjoys a nice dance.
Here is zero on youtube
http://www.youtube.com/watch?v=nkwR9fQ0Spc
Multiple Choice Quiz:
In what dialogue was this famous line spoken?
"Now, I'm gonna open my fly and you're gonna swallow what I give you to swallow."
A. Boggs to Andy Dufresne in the movie "The Shawshank Redemption"
B. The US Government when speaking to the taxpayers
Paul S.
None of the above,, Obama to Geithner..
Dead book swapping...
Can someone send Bernanke and the rest of the government copies of Crowds and Power by Canetti? They need to learn where they are in the grand cycle ... fat bloated and need to be taken over springs to mind!
At a cost of only $323,000 per "stimulus" job, Stimulus 2.0 will create jobs at a cost of over $500,000 each.
Green shoots everywhere!
"it needs to be very targeted, very specific and we need to be very mindful of the deficit as well."
So why the did they extend the homebuyers' tax credit (not to mention expand it to move-up buyers also)? Seven out of eight homebuyers entitled to the credit would have bought anyway. Very well targeted...
Stimulus is 100% correlated to declining economies.
If the economy is healthy no stimulus is needed.
All recovery has been 100% smoke and mirrors orchestrated by the most elaborate group of financial magicians known to history.
(This is stimulus 3.0. There was a stimulus under Bush but I guess we aren't counting that one)
This is proof we have been lied to. Heart Attack victims need to be stimulated too. Could you imagine trying to defribulate a 25 year old healthy male as he is running through Central Park? No, because you wouldn't need to and it wouldn't make sense. Same here.
+1. Stimulus 3.0
Extremely targeted to Goldman Sachs, JP Morgan and getting us to 13,000 DOW. I Can't wait...
Pass 10,000 Clams to my family and we will show you spending.
Spending to retire debt. Then we will be able to double or triple our spending to stimulate the Nation.
Dont pass us 250 dollars and call it stimulus.
See now THAT makes sense! That's the only way government intervention would make a lick of difference! (I'd still prefer it if they didn't muck about period but hey...)
Let interest rates go to market equilibrium, pay off as much consumer debt as possible in order to get them out from under their credit cards. Pull the "liquidity" needle out of their arms so they can spend their wages instead of chasing the dragon.
Whatever stimulus money they throw at the problem will probably have little effect. We are in one of the infamous "Black Swan" moments of time that no one knows the solution too. Only choice they have is go back to the standard operating procedures of the past and hope they work.
I do agree that unemployment is probably closer to 15-20% currently. I hope the administration starts making the right choices or we are all screwed!
Open the books,
Throw out the crooks.
It's so easy.
When it comes to throwing the crooks out..
Executive Order 11110 was issued by U.S. President John F. Kennedy on June 4, 1963.
This executive order delegates to the Secretary of the Treasury the president's authority to issue silver certificates under the Thomas Amendment of the Agricultural Adjustment Act.
Only problem is when you go to Dallas it gets vetoed..
Nice job MsCreant-
I do believe, you found our rallying cry!
Open the books,
Forclose on the crooks!
Open the books,
Forclose on the crooks!
Open the books,
Forclose on the crooks!
I like it, I see you working the open/close parallel. An alternate idea would be to just be as short as possible...
Open the books,
Jail the crooks.
Those are the two things that need to happen before we can get healing.
Yes, observant - the foreclose is to maximize populist anger and therefore involvement since many are losing their homes while those losing their homes (and their children) are and will be paying for the bailouts in taxes (so that banks, their management, and owners don't have their homes foreclosed on). They are foreclosing on us (the little guy), so let's foreclose on them - they are bankrupt but they are still foreclosing on the little guy, we should foreclose on them. I don't want to just see them go to jail, I want to also bankrupt them and their children - I think we have a better chance using our economics against them than a court of law (other than Madoff, Mary Stewart, Ken Lay).
I do like the simplicity of 3 words per line.
A.N.
"I hope the administration starts making the right choices or we are all screwed!" Are you out of your mind? Have you seen the slightest iota of evidence that the administration is about to make the right choices? Get a grip, Gimp.
This is a puppet regime of the Zbigniew Brzezinski clique, everything is currently going according to plan..
Can't US citizens do something to legally stop all of this? This is a call to you lawyers out there who love your country, and don't want to let this corruption continue!...maybe a class action suit that would put an injunction on all policy making until deliberate consideration is given to the idea of spending money as a bankrupt country, and until the money given to bankrupt banks to suck in more funds which will never be returned is stopped, and until TARP is revoked, and since it is CLEAR that the people lobbying for TARP were self-dealing, and not acting as fiduciaries for the US citizens, and hearings should be conducted to determine who committed treason against this country by stealing money for the bankruptoocorrupttofail! After all of this, if these charges are satisfactorily met, then the congress can start passing legislation again!
until some politicians are hanging from trees there
is no injunction....
all of this gum flapping is about as meaningful
as a spit in the grand canyon....
I don't t think there has to be violence, just people who are not corrupt willing to step up and take the place of the corrupt and by the vote, we can make things right...people have learned now that when a politician promises change, you better know what kind, and that we need to insist that they work for us, not for corporate interests.
The gum flapping can help spread the word, but i do agree, it feels like spitting in the grand canyon.
I don't t think there has to be violence
When upon repeated injury, our founding fathers hoisted the revolution without a guarantee of success. Do we really believe that this creeping coup, the insurrection of constitution and law from beginning to end will voluntarily surrender because of constitutional sensibilities?
Think hard,,,,for your families,,We are on the precipice of freedoms Armageddon...
geopol--i should have said, i hope there won't be violence. It really does seem an impossible task to expect that our vote will stop all of this--it is a pollyanna wish. I just know that Obama has talked about a civilian force and if our own corrupt government can use our country's military powers against it's own people, how could anyone win a violent struggle against our government? So, with that in mind, the vote is the only hope i can see.
agrotera,
One thing the fascist understands is, you can't rely on the military, or national guard, or the local police.. Thats why It's most effective when you get THE PEOPLE to crush themselves..Give petty powers to petty people...Example TSA, Community watch groups.....sound familiar??
One of the only ways, GENERAL STRIKE...It's unfortunate but I'm afraid our system of governance is none functional...
I'm afraid the law will do no good against those who write the law. The looters are not just winning the game, they are gaming the rules, beginning with the Fed in 1913. The looters should have lost all their jobs last September. Which begs the question, just what will it take to flush the system?
Dear Sancho Panza --I was just having a little bargaining moment as i travel through the stages of grief over all of this...sadly it looks as if the looters are 'banking' on the idea that we will all just move along into a state of acceptance. It is astonishing to think that so far, our own president has insisted that we should not dwell in the past and to try to go back and reconsider what was done in the fall of 2008 would be useless--so since our own president is endorsing lawlessness, what do we do?
http://www.youtube.com/watch?v=ZYtUWWwpGSw
I like the idea of suspending extraneous legislation until this alleged financial debacle is sorted out. Nobody in government will stand up and put on an all on offensive against the perpetrators of these crimes against America.
All the hurry up about Cap'n Trade, Health Care Reform, Financial Reform, etc. is a smoke screen (Obfuscation) to cover the greatest fraud in the history of the world.
The most important work is to keep the music playing.
The music always stops.
A court order by which an individual is required to perform, or is restrained from performing, a particular act. A writ framed according to the circumstances of the individual case.
An injunction commands an act that the court regards as essential to justice, or it prohibits an act that is deemed to be contrary to good conscience. It is an extraordinary remedy, reserved for special circumstances in which the temporary preservation of the status quo is necessary.
An injunction is ordinarily and properly elicited from other proceedings. For example, a landlord might bring an action against a tenant for waste, in which the right to protect the land-lord's interest in the ownership of the premises is at issue. The landlord might apply to the court for an injunction against the tenant's continuing harmful use of the property. The injunction is an ancillary remedy in the action against the tenant.
Injunctive relief is not a matter of right, but its denial is within the discretion of the court. Whether or not an injunction will be granted varies with the facts of each case.
The courts exercise their power to issue injunctions judiciously, and only when necessity exists. An injunction is usually issued only in cases where irreparable injury to the rights of an individual would result otherwise. It must be readily apparent to the court that some act has been performed, or is threatened, that will produce irreparable injury to the party seeking the injunction. An injury is considered irreparable when it cannot be adequately compensated by an award of damages. The pecuniary damage that would be incurred from the threatened action need not be great, however. If a loss can be calculated in terms of money, there is no irreparable injury. The consequent refusal by a court to grant an injunction is, therefore, proper. Loss of profits alone is insufficient to establish irreparable injury. The potential destruction of property is sufficient.
Injunctive relief is not a remedy that is liberally granted, and, therefore, a court will always consider any hardship that the parties will sustain by the granting or refusal of an injunction. The court that issues an injunction may, in exercise of its discretion, modify or dissolve it at a later date if the circumstances so warrant
source: http://legal-dictionary.thefreedictionary.com/injunction
agrotera, remember that we live in the era of judicial exclusion. The law does not apply to the folks you are talking about. I hear ya and smell whatcha cookin'. However, you might as well attempt to bring Brigadier-General Reginald Dyer to justice then pursue those folks.
Sad times indeed. Like Peggy was alluding to, the systems are broken and there is no faith outside of a few nooks of the political and sponsorship classes that actually think the systems can operate in such a way as to achieve positive results.
In being involved with this type of thing it helps to keep in min this timeless truism: Money runs up-hill and shit runs down-hill.
Guess who controls which way the pipe tilts.
Can't US citizens do something to legally stop all of this? This is a call to you lawyers out there who love your country, and don't want to let this corruption continue!..
I think you implore the wrong profession.
Besides the judicial system in this country has been hijacked for the last 30 years.. Just ask Bob Schulz
30 years? There's nothing in the Constitution about a central bank, yet the Supremes have been backing that one up for a hundred years.
I agree
Alright, lets make it, 96 years since the inception of the central bank
The SJC is a fraud....
Gary Locke is a heavy hitter, one of the most powerful since he has been delegated presidential authority over numerous national defense matters including export of military technology to China.
http://www.thefederalregister.com/d.p/2009-10-02-E9-23917
His pedigree will not disappoint anyone who is sold out.
I saw him interviewed a couple of weeks back (hadn't really registered on the radar prior to that), he appears to be one hard assed mfer
The problem with Gary Locke is that he has never done one single thing that was wrong. All you have to do is ask him and he'll confirm that.
Friday unemployment will be 9.9999999% ... Monday BHO says 'my fellow Americans, I am seriously concerned that the financial hole that George Bush left us in ... ugh ... was just larger than anyone understood, but I am proposing a completely new and bold program that will allow us to see daylight at the end of this tunnel.'
P.s. I heard today that the Pelosi Health Destruction Bill has provisions to create 110 new agencies, boards, oversight councils, and programs (really true). With this a Trillion stimulus 2.0 should leave little POMO for GS, et. all.
their stimulus package is only 2.0 big
too small, too late, aimed at the wrong orifice
should have been an apollo space program like 21st century energy project
all out.... like the national emergency it is
and circumventing the bankstas by financing innovative energy tech business ventures directly from a "bank of the united states of america" until the healthy banks mopped up the toxic banks which should have been allowed to fail
now its all water under the reactor
+1
midterms
that's all one needs to know to navigate the next 12 monhts
every decision, every action, most of the MSM media prop will be driven by the midterms
to the extent that the markets can be manipulated, they too will be subject to the midterms
didn't see this news on the site today:
Biggest Financial Firms Will Be Hurt by Capmark BankruptcyBy Paul Muolo
When commercial mortgage giant Capmark Financial filed for bankruptcy protection last week its initial declaration included a page for its 30 largest unsecured creditors with one glaring omission: those creditors were not named.
After a bit of digging — and with the assistance the kind folks at Bankruptcy.com, a tracking service — I was able to obtain a list of Capmark's largest "unsecured" creditors from the truckload of documents that eventually were dumped in the court record. Topping the list was Citibank — which is hardly in a position to take more losses.
But Citi — the administrative agent on what was once a $5.5 billion loan to Capmark — has plenty of company. Deutsche Bank, acting as a trustee, is owed $1.8 billion on bond-related debt with Wilmington Trust owed $500 million.
Read more
Nice pick up, ghost. Anyone else paying attention?
IMF Sells Gold to Central Bank of India, Netting $6.7 Billion
Nov. 3 (Bloomberg) — The International Monetary Fund said it is selling 200 metric tons of gold to the Reserve Bank of India for about $6.7 billion, its first sale of the precious metal in nine years.
The sale accounts for almost half the 403.3 tons that the Washington-based lender in September agreed to sell as part of a plan to shore up its finances and lend at reduced rates to low- income countries.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAkoEr3mFLv0
I wonder how much of that gold is yours and mine? How much was US owned gold from Fort Knox given to the IMF?
Audit fort knox, audit the fed, audit the TBTFs, audit SLV and GLD, enforce naked shorting rules on PM commodities and related PM shares. Without this, they will steal all of our wealth. Precious metals are the achilles heal of the banking beast and our path to freedom.
This could be geopolitical as the US wants India as an ally against Russia, China, and Iran. India has been playing hard to get from all sides and is somewhat like Switzerland with few alliances - perhaps we received something geopolitically valuable from them in exchange for the gold.
Don't I remember hearing that the perennial IMF-gold-selling threat was considered apocryphal? How significant is this?
The Chicago school of free markets,,, I love it.. The problem is, it's a myth. When you have a government that takes TRILLIONS from the productive efforts of the American people it no longer is a free market..
Free market definition:
The MAFIA .....Open a business, and don't tell anybody,,Make $500,000,000.00 and don't tell anybody THAT'S A FREE MARKET...
Will they admit the first $787 billion was not really meant to be a stimulus?
Are you saying without foreplay it is actually a dry fcuk?
Your call..
New .gov health plan provides for KY, MsC. Don't worry your little mind (say our overlords).
Lothar,
Maybe we have it all wrong with teabags. Maybe we should mail them condoms. Lots and lots of condoms. Lubricated. And tell them if they are going to fcuk us, they should at least wear these.
We could mail them to the regulators too and say, "Since you won't do your job and regulate, the least you could do is protect us."
Instead of the Boston Tea Party, we could have a giant CONDOMNATION party.
This one is just TOOOO good MsCreant! Please do not let it go!!!!!
MsCreant, you need to contact me ASAP at mileskendig@live.com or via AIM at mileskendig1.
I have emailed.
This w(hole) protection thing is a great theme for a tea party.
Let your government know that we have been screwed enough.
The inspiration for a new party..Doesn't get any better than this,,,
The Condomnation Party....priceless
Well, that just about covers it..
IMF sells 200 tonnes of gold to India central bank
Hilarious! Unreal how dumb money spends.
Remember The Phantom menace? A corrupt Senate working for vested interests and the evil Palpatine scheming his galactic dominance. The masses squeezed high and dry. Who would be our Amidala? No Jedis? This spells doom for all. A revolution it would take to restore balance...
Apparently there are a few "big swinging dicks" on this site.
If banks aren't lending than why is your trade inflation?
The Fed printing money is half the inflation trade. The banks lending it is the other half.
Where does the inflation come from?
How much force do I have to kick with to get 59% of my foot up someone's ass?
In my experience it is a corollary to the tightness of the sphincter, weight coefficient and force of kneecap delivering the blow...
59% May be over doing it... 40% gets the ass to pucker..
Mission accomplished..
I just saw that the gold price is up big this evening cuz it was announced that India’s Central Bank bought $6.7 worth of gold from the IMF. For this to happen with gold trading near its all-time high is a very bullish sign in my opinion
http://www.goldalert.com/stories/Gold-Price-Approaches-Record-High-as-India-Buys-IMF-Gold
It was estimated that only 1/3 of the stimulus package would directly create jobs. The conclusion, job creation was not a priority. Our legislatures do not understand the demographics of our labor market. Nor do they want to create a national environment to promote an increase in wages. More importantly, they have lost touch with the tax revenue base. The patient is bleeding to death on the table, and needs a deficectomy stat, and the doctors are so incompetent, they cannot even find the operating room.
Quote: "Mindful of the deficit". Politicians talk as if fiscal policy was enacted on some strange and distant world. Devoid of all reason, undisciplined, chaotic, unclean. The planets name, after decades of exploration, the other party.
Mark Beck
http://www.boston.com/bostonglobe/ideas/articles/2009/09/13/why_capitalism_fails/?page=full
I'll say it again.
This is Stimulus 3.0. There was a Stimulus 1.0 under Bush.
Why doesn't the government get creative for Christ's sakes....call it "Vista" or something. The sheeples would never connect the dots.
They first need to clean up Wall Street and put some confidence back into the system.
Here's a start.
http://www.wikihow.com/Tie-a-Noose
Must see video info tv.
Must see video info tv.
About as surprising as CIT BK...really these guys have no creativity at all....
Constitution, Amendment XXVIII : The Congress shall pass no laws.
Money disappearing->need more money->need to increase government debt->more stimulus->more debt burden for economy->more defaults,deliquencies and foreclosures->money disappearing
How can this formula possibly fail?
You should pay more attention when I tell you something. Didn't I say at least a month ago that it would be $2.4 trillion in February 2010?
By the way, it's simply more liquidation. As long as fools like Zerohedge continue to refer to it as "stimulus" that's fine with the thieves at Goldman Sachs. THEY know it's government liquidating its position in society via corporatist looting.
But somehow Zerohedge doesn't seem to understand that it's about individually enforceable rights. That will kill them.