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Politics, Money and OWS
The head of the IMF, Christine Legarde dropped a big bill on Tim Geithner’s desk after the market closed on Friday.
From the WSJ article:
The IMF could offer short-term lines valued at roughly $50 billion combined to Italy and Spain.
The credit lines for those two countries could double to roughly $100 billion combined once their IMF contributions increase next year.
It’s clear that Lagarde is after the ever-elusive leverage factor. In this case “creative” and “firewall” means SPV.
"We have really tried to be creative about our facilities and instruments."
The lines could be offered to a group of countries, which could "Install a firewall around the core of the system to prevent or mitigate the propagation of virulent shocks."
The new credit lines could be used cooperatively with regional financing programs such as the European bailout program.
Really? The IMF is going to be doing some leveraged lending? Bailout money? For Spain and Italy?
The USA share of any IMF bailout is 25%. So Christine thinks she can get Geithner to step up for 25 large. And that would be just for Italy and Spain. Forget all the other troubled EU countries that would be able to borrow under this facility. The USA share of the IMF bailouts could easily exceed $100 billion.
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I never thought Obama’s “Jobs Plan” had much of a chance of passing. After reviewing the report by the CBO on S. 1549, The American Jobs Act of 2011, I’m convinced this legislation will never see the light of day.
This legislation is being sold as a jobs creator. It’s being sold as an economic stimulus. When you look at it, it’s obvious that this is an attempt to swing an election. It has nothing to do with good economic or fiscal policy.
The folks at the CBO look at things on a fiscal year basis. As a result, their analysis suggests that some of the “benefits” of the Bill will extend into 2013. I looked at it on a calendar year basis. This chart shows where the deficits (stimulus) and increased taxes (contraction) take place.
Clearly, this is a one trick pony. There is only one reason why the President proposed this “jobs” bill. He wants to get reelected. He thinks this will help. If the law is passed, it might just do that. The average family would get about $1,500 in their pocket. There would be signs on roads and schools that are being repaired that the work was being done on account of Obama.
That’s precisely the reason why the Bill is D.O.A.
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I’m not at all sure what should be done with the US economy, nor am I sure what the right path in Europe should be. I am, however, certain that if some very dramatic steps are not taken over the next two weeks, the financial system in Europe is going to implode. I’m equally convinced that if the US does not get a meaningful stimulus in 2012 there will be a hell of recession next year.
Obama and Geithner have pushed publicly for “Bold Action” by the EU. That means they have to deliver on the US cost of this. America can’t walk on its obligations to the IMF. If it did, Europe would crumble. At the same time, O & G will fail in their effort to get a spending bill from Congress. So I see a scenario where The US is forced to participate in a EU bailout, while the US economy gets no support, and therefore withers.
I’m off to see the Wall Street protesters today. I expect there will be a big crowd. The press has been maligning these protests. The suggestion has been that there is no central theme or objectives of the OWS movement.
The OWS protest has legs at this point in history. The failed debate on the stimulus and a USA blank check for the IMF is exactly what the protesters need. A rallying point. I think they will get what they need/want to take this to the next level. It will happen over the next two weeks. As a result, the OWS movement will go nuclear.
I wouldn’t be at all surprised if it ends with violence. There are too many cops and way too many angry people. Soon they will have something to be really angry about.
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I wonder if they will pay a bonus if you take a dump on an NYC police car? This is what some of the OWWS astroturfers have been doing.
It's fairly easy to google up information about Palin's paid speaking engagements at Tea Party conventions, if you have any slight curiosity about the truth.
The Tea Party has already been hijacked... However, before the TP became politicized it was very similar in nature to the OWS movement. I'm not a fan of the Tea Party in it's current form, but it's original intent was right on. My guess is I'll say the same thing about OWS in a year from now... It's current message is dead on, but i can already see the writing on the wall. Sad, really!
There is no current message of OWS. 3 weeks of sitting in and all we've heard is kids against corporate greed. This is nothing like the Tea Party.
I'll buy that. As far as the Tea Party goes, I had high hopes and was quickly disappointed. I had the same thing with Obama. The Obama thing made me think I'd never have any hope again, then along comes OWS. I'm willing to give them the benefit of the doubt until I see concrete evedence otherwise. But, the PTB are masters at subverting anything that threatens their dominance. As much as I hate the PTB, their consolidation of the press was a master stroke and the death knell of freedom and free thinking in this country.
If you actually bother to investigate the OWS crowd, you will learn thay are not in favor of Obamma or either party. That is the point. Our country has been stolen, and the desire is for SYSTEMIC CHANGE. The goal is to get beyond left/right, dem/rep paradigms. Get all this money out of politics. Stop the reveolving door between the corporations and the regulators. Enforce the laws.
Does the establishment want to co-opt the movement? You bet. Problem is, so far the movement does not want to co-opted, and seems to be making that clear.
Any and all investifgations into the OWS points to George Soros and the Obama machine. The crux of this movement is a bunch of kids that have produced nothing for this country and yet feel they have earned some right to say "corporate greed".
If a million people marching on DC saying "Stop this Ludicrous Spending" didn't change things this certainly won't change anything. It will however divert the sheeple's attention away from the real problem which is DC.
Exactly!!
I drove past our local electricians union building today and there was a huge billboard that said "Occupy Wall Street." Regardless of what you think, the message sent by that sponsor being involved is "this is a leftwing movement.".
I agree that it is not, but it is being hijacked by the left. I have many friends on both sides of the political spectrum and the people on the right are already lining up against it due to organizations like unions getting behind it. I'm not happy about it either. I would love for this to be a centrists movement... Now that the left is involved the messaging will shift from pro-capitalism and wanting a level playing field to anti-capitalism.
I can almost guarantee this shift in messaging over time.
The reason is simple - the OWS group is unfunded and unorganized, which makes it ripe for takeover by the left. Same exact thing happened to the Tea Party. The people on the left want nothing to do with the Tea Party even though the original message of the TP was similar to the OWS....
Two sides of the same coin that was perverted by politics. I find it just as frustrating as you and would love to see both of these movements come together under and anti-political umbrella. If politics could be removed, these groups could actually make a difference.
Both political parties know that a divided kingdom cannot stand and their desire to keep the Status Quo means it needs to infiltrate both groups and make them fight each other. Unfortunately, people are so easily manipulated especially when it comes to politics, whis IS the problem, not the solution...
This is not being hijacked by the left it was organized by the left. George Soros funding and Van Jones' people are doing what they do best, create mayhem. Wake up good people of the US.
If they would ALL (OWS and Tea Party) would wise up and realize what is REALLY the problem, partisan divide would go away for the most part! The real enemy to the Republic is:
CREATIVE DESTRUCTION OF THE USA TO FURTHER THE GOAL OF A NEW WORLD ORDER. That's IT!
People myopically obsess on politics inside our borders only, but the endgame is MUCH bigger than our shores can contain!
First rule number one for troll, don't use word love!
This is my opinion of what is going on, subject to change as more facts become available.
Regards,
Cooter
There is much truth in what you say.
Beware the hijacking of the herd. Don't waste a good crisis and never let a good sized crowd go to waste either. The timing of all this is just too convienent for those already running things.
Without some credible candidate running against Obama, the American people will begin to lose confidence. They will think the game is rigged. That requires the Corporate/Political structure to put on the Horserace Election Show. Even if both candidates are saying the same thing, it must not appear that way. It must appear THAT VOTERS HAVE REAL CHOICES
They tried to get Christie in the race. (He is fat and white, while Obama is thin and black, so that would work - see you have choices). The GOP just discovered Romney isn't a Christian, (he's a Mormon) and that is pretty good stuff, it makes Romney appear DIFFERENT AND CREDIBLE, because his critics are 1%ers.
Gov Brown in Ca (DEM) just passed an education bill for illegal immigrants, which matches pretty much what Rick Perry (GOP) said, (when his own party slammed him) I expect Obama to jump in the middle of that issue, which is the old amnesty bill, which Bush Pelosi and Reid all agreed to, but which was blocked by GOP congressional types.
All this will defuse OWS. The right way to do this is to find ANOTHER POPULIST ISSUE, away from the one which you want to exploit and give some attention, money or legislation. There is a lot of time and money which goes into manipulating your attention away from the issues at hand, promoting the veiled illusion of Democracy, and reinforcing the idea in your head that Demonstrations don't work, Democracy works.
Right now the plan is for Obama to be reselected for another term. NOthing he has done has dissappointed them except possibly QE3. QE3 it turns out is really EUROZONE-TBTF, TARP for the continent. And as we get closer to another election, THEIR financial emergency becomes more likely, tanks in the street and all that.
and just saying the phrase "tanks in the street", while there are thousands of protestors packed into NY, well that should disperse the crowd pretty quickly. This is why Eric Cantor can call them a "Mob", he has a copy of the script.
The drama continues.
Well, bailouts wont stop if you vote Herman Cain!!!
Cain on all news shows we ignore this morning. He’s so great and take lead in polls, LOL!! But he’s bullshit candidate. He want to rob the taxpayer too.
He rob employees but give bonus to the big corporate boss!!
"Cain served on the board of directors throughout Aquila's ill-fated trading misadventure and the subsequent collapse of the company's retirement fund. In fact, he chaired the board's compensation committee, which, according to the lawsuit, had direct oversight of the push to get employees to invest more and more in Aquila stock….Aquila and other companies would buy energy from California at a lower capped price, move that energy out of the state, then re-sell it back to California at a higher price for a tidy profit.
Richard Itteilag, a plaintiff in the Aquila class action, lost 87 percent of his savings. Robert Goodson, a 20-year Aquila employee, lost 75 percent. Michael Reinhardt lost a staggering 94 percent. All told, thousands of employees saw their retirement funds eviscerated thanks to Aquila's Enron-esque activities.
Cain also saw fit to dole out $30 million in bonuses, not including stock options, to the top five execs at Aquila in 2002, with the company's stock plummeting. A month after the Kansas City Star reported on the hefty bonuses in July 2002, the company laid off 500 employees, and the losses to employees holding company stock had reached hundreds of millions of dollars.
The suits alleged that Cain and top company officials violated a 37-year-old federal law requiring that employers manage employees retirement programs responsibly. (Cain's presidential exploratory committee did not respond to a request for comment.)
http://atlantapost.com/2011/05/25/a-real-reason-to-be-mad-at-herman-cain/
http://motherjones.com/politics/2011/05/herman-cain-aquila-lawsuit-2012
You're a political hack. Say hello to Obama for me.
The most important fact I think you can know about Cain is that he was head of the KC Federal Reserve for 3 years.
And he says if you have a problem with the FED, "you should just call "em up"....LMAO!!!
What a globalist/bankster shill!
Maybe it's is most important fact for us that he was head of KC Federal Reserve, but when you talk on social media, the number one most important fact is he stole money from employees and gave big bonus to coporate boss. As share price plummets he doles out bonus!
That's all you need to know. Anything he says is a lie. He works for the motherfuckers who have been fucking us since 1913.
He should have some monetary record from this then, no?
Perhaps we was a fiscal hawk that treated the monetary base like a sweet virgin...I KID!
Now that's some "Godfather" 'za to swallow, ain't it?
The old pump'n'dump; favorite of FailPugs(tm) everywhere.
Pay no attention to the carnage they left behind...they're a success now!
I expect violence, too.
At this point, the script calls for the insertion of agents provocateurs to incite violence against the protestors.
Cowboys and cattle prods! Get along little doggie....
Bruce, I don't think anything is going to come of this. Any legs it gets will be to allow the PTB to continue walking all over the 99% - this is just Hope & Change Part Deux. Until vermin are eradicated, they will continue to infest and destroy.
Uncle Rem. Don't you think that many of our history's page-turning uprisings began largely unorganized with only a common theme of discontent? Then a leading voice emerged (s) and the citizens unite? And, sadly, do you think perhaps these page-turner events always have been hampered by discouraging comments such as yours? Just a thought.
"It is the general opinion that revolutions begin with the common people, but this is not true; the benevolently informed always guide and direct public opinion." Manly P. Hall
He was one creepy, evil bastard!!!
You may be right. That still doesn't change my perspective. It also doesn't mean that what is occurring now won't be a catalyst for other action, but you always have to careful what you wish for.
Too many clamor desperately for peaceful change, yet the Tree of Liberty stands denuded and parched, a barometer of what we have lost.
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." - Thomas Jefferson
Anyone who would be discouraged by anonymous posts on an Internet forum doesn't have the balls to take on the banks and the government to begin with.
Think. Not just internet posts. Expand the no-win attitude into all branches of media and into daily interactions with others.
Everyone thinks of changing the world, but no one thinks of changing himself. - Leo Tolstoy
That's right. I wonder how many of those at OWS in NYC are debt free? I wonder how many have cell phone contracts? Student loans? Big Bank credit cards?
I would guess most have all, and are in debt up to their eyeballs and have yet to work a job.
Sadly, I think you're right Remus,
The voices of the OWS movement seem to be denouncing the 'evil rich banksters,' all the while demanding more entitlements from the 'evil rich politicians.'
Kinda like: "They got theirs; now I want mine!" Rather than simply recognizing what the banksters did was wrong and demanding accountability.
Good observation Pool Shark, Denouncing evil rich bankers and then demanding more entitlements, and 'more rights' certaintly resonates with the masses. They are fooling ignorant people with this ploy designed to further degenerate freedom and promote socialism. This will not end well.
This is theatre for those who sit at home in front of the tube. See what happens to those who go around demanding their rights (entitlements). We sure don't want to end up like those unwashed masses breaking the law in the streets. The rich bankers love it so much they are not only willing to fund the organizers (well behind the scenes), but also support the police, like good Amurkans.
Agree. Until I hear protestors calling for some heads - trials, prison, enforcement, and other appropriate punishment - for those who broke the law with their fraud, starting at the TOP, the banksters and pollies - then I'll bet banksters, pollies, and unions will be playing for advantage on 'both' sides of any given protest. Whether by funding/allowing use of premises, providing media coverage, or getting membership to show up and wave signs.
But the question is will they succeed, or will this protest run out of control?
CrazyCooter upthread said the Dems are 'losing control of their base, in an election year'. I like that description.
To me it's no question that Brookfield/Soros/unions etc. are doing their damndest to get out in front of the parade, and banksters behind the scenes are busy making sure '2 sides' are bought and paid for. I just hope the movement doesn't stay small enough that the usual suspects succeed in co-opting, buying, or controlling it.
When protests start demanding certain parties be punished, then I'll reckon loss of control has happened.
The OWS "protestors" are paid employees and The Working Families Party is funded by Soros. This Obama/Soros smokescreen - bought and paid for with your Stimulus tax money.
http://www.freerepublic.com/focus/f-news/2790347/posts
http://newyork.craigslist.org/brk/gov/2618821815.html
he Working Families Party (WFP) (www.workingfamiliesparty.org) is New York's most energetic, independent and progressive political party. Formed in 1998 by a grassroots coalition of community organizations, neighborhood activists, and labor unions, we came together to build a society that works for all of us, not just Wall Street CEOs and the well-connected. WFP is independent from corporate and government funding and in-addition we are community based; community funded and equally uninfluenced by both major parties. Our agenda focuses on economic and social justice, corporate accountability, job creation, environmental protection, and investment in education and healthcare.
For the past twelve years the WFP has been at the fore front of progressive politics,
Leading the fight and helping to frame the debate. The WFP has a proud record of fighting for issues that matter and has been instrumental in implementing key pieces of legislation such as Raising New York's Minimum Wage, Enacting Living Wage Laws, Creating Thousands of Jobs In the Green Economy, Passing Healthcare Reforms on the Local Level, Fighting for Affordable Housing, Keeping Tuition Costs Low, A Progressive Tax Code, Reliable/Cost Effective Public Transit System, Public Financing Of Elections and Corporate Accountability . In addition, we have an unapologetic stance on supporting and pushing good candidates to enact progressive legislation
The WFP is seeking immediate hires.
You must be an energetic communicator, with a passion for social and economic justice.
Only outgoing, articulate dedicated, determined candidates will be considered for the positions.
For those candidates that qualify WFP offers substantial paid-training provided by senior leadership, on varied issues such as: advocacy, public speaking, mobilizing, fundraising, networking and organizing. We invest in passionate people with excellent communication skills and a full benefits package is offered to those candidates that qualify. In addition, there is opportunity for advancement and travel to our satellite chapters and out of state affiliates.
This is not a policy job! Through direct action you will be shaping NY state politics for the next 20 years.
If you care about New York and want to help educate and mobilize around legislative campaigns-then we look forward to hearing from you!
Apply at http://www.workingfamiliesparty.org/jobs/.
PostingID: 2618821815
Thanks for the info Freddie. A little research brings quite a bit of knowledge. Thanks for sharing.
Here's and idea for you, TrulyBelieving........let's bend over even further to make it easier for Wall St. to shove it up our collective asses. Let's forfiet even more of our rights to government/corporate control. Be nice little sheeple and be happy with what the 1% leaves for you.
Do us all a favor. Anytime you start to type the word "they", STOP, and instead give us a clear description of just you think "they" is.
I will be in NY soon on a business trip & plan to spend some time lending support to the OWS crowd. I will be one of "them", but hardly consider myself an ignorant person. Nor do I think my participation will denegrate freedom or promote socialism....just the opposite. I will be opposing socialization of corporate losses.
No one ever thinks themselves ignorant.
So you will be easily spotted carrying signs and yelling for the restoration of the Constitution, proposing personal responsibility vs collectivism, demanding rule of law. Great.
The kiss of death was when Michael Moore and the unions showed up with their own agendas. OWS has been hijacked by the same socialist scum that got us into this mess to begin with.
You mean the Wall Street socialist scum who got the taxpayer bailouts and socialized their losses?
Don't confuse the 99% movement with the Tea Party. The Tea Party got hijacked quickly by the right wing of the Republican party and lost what legitimacy they had. Don't believe it? Just check into where their money comes from.
Wow. Look at the reds. The Wall St. socialist scum lovers must really be out today ;-)
See above. The park in NYC is owned by Brookfield Properties. They got a $168 million Dept of Energy loan from Obam. Bloomberg's girlfriend is on the board of Brookfield. We are being played. OWS is Obama/SEIU/MOVE ON/ACORN/Ayers/et al.
Being played? Seems you are one trying to "play" us. We simply don't know where this is going, and no one can control an unleashed torrent of anger. You think Bloomberg is happy about this? When I see him now, both his anger and fear seem real to me.
Yes, there are many different groups and perspectives in this movement, but the reports I read indicate disgust with both parties and all politicians. Instead of handouts, what I hear most are demands for jobs. They want the laws enforced and the guilty punished. That bother you, Freddie?
Sadly no. They are the same union and leftist goons that swarmed Wisconsin when the Dem state reps/snators left the state. AstroTurfing. Many hired on CraigsList for $350 to 650 a week by Soros Working Famlies Party (sic):
http://newyork.craigslist.org/brk/gov/2618821815.html
?
PostingID: 2618821815 I don't recall the Tea Party hiring mobs.