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BREAKING NEWS - Henry Paulson about to address media re: G7
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Anonymous Coward
User ID: 475505
10/10/2008 8:00 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
And they'll be able to avoid those pesky investigations for things like no-bid contracts, and if a company makes obscene profits as a result of foreign occupatio, hey we all win! Companies, State, all of us. What a great world it will be. |
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Anonymous Coward
User ID: 436143
10/10/2008 8:00 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
What is G7 or who is G7
The seven most industrialized nations Quoting: Summers 520303
Used to be G8, now it's minus Russia |
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Anonymous Coward
User ID: 520867
10/10/2008 8:00 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
What is G7 or who is G7
that's who James Bond works for Quoting: Mr. Predictor
LOL, and the White House is Snow White's little house in Disney Land. |
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Anonymous Coward
User ID: 131036
10/10/2008 8:01 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Take into account that the citizenry was 300-1 against the bailout, obviously these people don't care that elections are coming up, and most of them in the House & Senate are up for re-election or not, something must be going on.
If they don't care that the American people said NO, overwhelmingly, 'NO you can't steal our money and give it to the crooks who own you', I'm guessing our votes will not be properly counted.
The fix must be in, and the payoffs are in the envelopes. Quoting: TEXAS UNCENSORED 113191
Or WORSE!!!! No elections? |
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SUMMERS
User ID: 520303 (OP)
10/10/2008 8:05 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
I'm curious to see how the media will portray the speech given by Paulson.
Initial articles have been somewhat critical, focusing on the fact that investors were really looking for commitments. I've noticed that a lot of these economics articles, though initially critical, end up getting edited and dumbed down a little to soften the blow.
Anyone else noticed this? |
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Anonymous Coward
User ID: 475505
10/10/2008 8:06 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Or WORSE!!!! No elections? Quoting: Anonymous Coward 131036
That would be a LOT easier wouldn't it?? ...
Afterall, elections and voters can be so unpredictable, and why spend so much time and money fixing the elections and claiming they're fair? Let's just do away with them.
The general pop. just doesn't understand the details of COrporatism anyways. They just don't understand how I, as a member of the House of Representatives can do my job MUCH better by also being in charge of Finance at Morgan Stanley, and my side-gig as an advisor to GM.
They just wouldn't get it. |
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Anonymous Coward
User ID: 522623
10/10/2008 8:17 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Look at this:
G-7 Finance Ministers and Central Bank Governors
Plan of Action
Washington— The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth. We agree to:
1. Take decisive action and use all available tools to support systemically important financial institutions and prevent their failure.
2. Take all necessary steps to unfreeze credit and money markets and ensure that banks and other financial institutions have broad access to liquidity and funding.
3. Ensure that our banks and other major financial intermediaries, as needed, can raise capital from public as well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses.
4. Ensure that our respective national deposit insurance and guarantee programs are robust and consistent so that our retail depositors will continue to have confidence in the safety of their deposits.
5. Take action, where appropriate, to restart the secondary markets for mortgages and other securitized assets. Accurate valuation and transparent disclosure of assets and consistent implementation of high quality accounting standards are necessary.
The actions should be taken in ways that protect taxpayers and avoid potentially damaging effects on other countries. We will use macroeconomic policy tools as necessary and appropriate. We strongly support the IMF’s critical role in assisting countries affected by this turmoil. We will accelerate full implementation of the Financial Stability Forum recommendations and we are committed to the pressing need for reform of the financial system. We will strengthen further our cooperation and work with others to accomplish this plan.
Look they even wrote it down. We plan on getting the housing /SIV bubble going again even though it failed and cost the taxpayers trillions. Why? Because U.S. has NO ECONOMY WITHOUT EASY CREDIT. 70% GDP is consumption. There are no jobs in this country. Easy credit and entitlements mask this and keep the serfs in check.
We're screwed. |
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Anonymous Coward
User ID: 467001
10/10/2008 8:23 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
This is Corporatism, also known as Corporate Fascism, or Economic Fascism. Individuals are subjected to the good of the State, and the Nation owns the companies.
That is spot on.
It's been a really shocking few days for me. Forget about the DOW Jones and the Nikkei for two seconds and consider that over the last few weeks, our freedoms are being stripped away at a rate unprecedented in US history, by things like the bailout bill, and the further extensions of power given to the executive.
I've always believed that the world isn't as it seems, but even knowing that, watching it all unfold in front of our eyes is quite shocking to say the least.
I'm with you Summers.
The government will own between 60%-70% of ALL U.S. mortgages by the time the bailout is completed. They guarantee all of Fanie and Freddie's assets, facilitated (read: forced/financed) the sale of Bear Sterns, have propped up our biggest Insurance company to the tune of $100B in return for partial ownership, and are now going to start buying common shares of companies outright.. Buy the shares, become an owner.
It gives a slogan like "What is good for GM is good for the US" a whole new very literal meaning.
I am afraid we are at the beginning of NOT a new Socialism per se, but a new Nationalistic Corporatism. Socialism as an economic form is primarily directed at a sharing of wealth among the populace. However, Corporatism aims at a stealth increase in the power of the State at all private costs. There are successful experiments in Democratic Socialism. This is not what we are talking about here.
What we have here is a vigorous strengthening of the State/Executive Power under the guise of "saving" companies. The result will be blatent corruption and wealth sharing between politicians and company executives. Both parties in full cooperation mode to serve the common ends... which normally mean War, Poverty of the masses, and Authoritarian rule. Quoting: Calibob 475505
Very well said; however, corporatism has been evolving for years in this country. It's now finally to the point where they believe that they can rub it in our faces due to the complexities, and their ill conceived perception of popular ignorance. They believed that the overall induced apathy within our country will keep them safe to pursue their dreams.
They've miscalculated. |
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Anonymous Coward
User ID: 473807
10/10/2008 8:27 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
"Look they even wrote it down. We plan on getting the housing /SIV bubble going again even though it failed and cost the taxpayers trillions. Why? Because U.S. has NO ECONOMY WITHOUT EASY CREDIT. 70% GDP is consumption. There are no jobs in this country. Easy credit and entitlements mask this and keep the serfs in check.
We're screwed."
---------------------------------------------------
BINGO
The consumption monster is full, some how they have to figure out a way to trick the consumption monster that it's not full and needs to eat more. |
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Anonymous Coward
User ID: 522717
10/10/2008 8:30 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
What is G7 or who is G7
The seven most industrialized nations
Used to be G8, now it's minus Russia Quoting: Anonymous Coward 436143
Russia is still in G8. G7 is when they (US, England, Germany, Japan, Italy, France and Canada) meet on their own... |
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SUMMERS
User ID: 520303 (OP)
10/10/2008 8:34 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Very well said; however, corporatism has been evolving for years in this country. It's now finally to the point where they believe that they can rub it in our faces due to the complexities, and their ill conceived perception of popular ignorance. They believed that the overall induced apathy within our country will keep them safe to pursue their dreams.
They've miscalculated. Quoting: Anonymous Coward 467001
Have the really miscalculated?
I suspect not. The announcements made all week are preset triggers. This is exactly what is meant to happen.
Is the stock market going to fail, is it going to be OK? How long will it last?
Who knows. NOBODY has any idea. Economists are treading on each others toe's with predictions a plenty, and the only thing they have in common is that none of them are correct.
Through this mass-confusion NLP that's going on in the media, combined with staged 'recovery' announcements by the Pres and Paulson that are designed to derail the economy further with every sentence, the moves are being made. |
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doomass
User ID: 452866
10/10/2008 8:35 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
speaking now
bla, bla, bla, bla, I'll still be rich, bla, bla, and so will my friends
bla, bla, we all got the hell out and bought gold in Feb
bla, bla Quoting: Mr. Predictor
Those mutha fuckas...  |
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TEXAS UNCENSORED
User ID: 113191
10/10/2008 8:37 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Take into account that the citizenry was 300-1 against the bailout, obviously these people don't care that elections are coming up, and most of them in the House & Senate are up for re-election or not, something must be going on.
If they don't care that the American people said NO, overwhelmingly, 'NO you can't steal our money and give it to the crooks who own you', I'm guessing our votes will not be properly counted.
The fix must be in, and the payoffs are in the envelopes.
TU
So, some predictions about the state of the world on Tuesday morning?
Any predictions on the outcome of the G7 talks, if any? Quoting: SUMMERS 520303
That's just my experienced guess. Anyone up for election who votes against a 300-1 majority, must think their seats in Congress and the Senate are safe, as in bought and paid for.
I wouldn't venture a prediction per say. My gut tells me we'll be lied to again, while they chuckle behind our backs. I figure a little more market manipulation will be on the plate, and then a drastic downward trend.
But, I'm no analyst, nor am I a market guru. I'm just watching the chips fall, as we have expected for years now.
It's almost unbelievable watching it happen.
What is most unbelievable to me is that no one has grouped together within our goverment and military to stop it. |
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Anonymous Coward
User ID: 473807
10/10/2008 8:38 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Communism---the state realizes the profits and the losses
corporatism--the corporation realizes the profits and the state realizes the losses--privatize the profits, socialize the losses. |
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Anonymous Coward
User ID: 522623
10/10/2008 8:40 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
---------------------------------------------------
BINGO
The consumption monster is full, some how they have to figure out a way to trick the consumption monster that it's not full and needs to eat more. Quoting: Anonymous Coward 473807
How the hell they going to do that when 11 million people are out of work (that have filed unemployment, shadowstats figure real unemployment at 12%)......no jobs, no credit, no money, no consumption. Businesses are closing or downsizing everyday. Easy credit means nothing without an underlying employment structure to support it.
These jackholes are clueless. |
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Anonymous Coward
User ID: 522426
10/10/2008 8:43 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Communism---the state realizes the profits and the losses
corporatism--the corporation realizes the profits and the state realizes the losses--privatize the profits, socialize the losses. Quoting: Anonymous Coward 473807
and we already have corporatism (or Fascism as Mussolini called it). Now we are headed to communism with the government taking equity ownership stakes in the banks and other large corporations, as well as owning the mortages to 50% of the homes in America. |
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Anonymous Coward
User ID: 475505
10/10/2008 8:46 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Communism---the state realizes the profits and the losses
corporatism--the corporation realizes the profits and the state realizes the losses--privatize the profits, socialize the losses. Quoting: Anonymous Coward 473807
I like your research, but honestly there is more to COrporatism than that. You can find writings of Noam Chomsky that show accurately the capitalist West has been doing the Private profits/Socialized losses thing for a very long times. However, this is simply not the same as the Government OWNING mortgages, banks, insurance companies and financial institutions. |
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Anonymous Coward
User ID: 493078
10/10/2008 8:47 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
 |
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Anonymous Coward
User ID: 513691
10/10/2008 9:13 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
shadowstats figure real unemployment at 12%)......no jobs, no credit, no money, no consumption. Businesses are closing or downsizing everyday. Quoting: Anonymous Coward 522623
Yup. And soon to be much higher. Wonder if it'll double. The depression was 25% for years on end. |
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Anonymous Coward
User ID: 467001
10/10/2008 9:26 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Very well said; however, corporatism has been evolving for years in this country. It's now finally to the point where they believe that they can rub it in our faces due to the complexities, and their ill conceived perception of popular ignorance. They believed that the overall induced apathy within our country will keep them safe to pursue their dreams.
They've miscalculated.
Have the really miscalculated?
I suspect not. The announcements made all week are preset triggers. This is exactly what is meant to happen.
Is the stock market going to fail, is it going to be OK? How long will it last?
Who knows. NOBODY has any idea. Economists are treading on each others toe's with predictions a plenty, and the only thing they have in common is that none of them are correct.
Through this mass-confusion NLP that's going on in the media, combined with staged 'recovery' announcements by the Pres and Paulson that are designed to derail the economy further with every sentence, the moves are being made. Quoting: SUMMERS 520303
Yes. They believe that the American people are going to simply whine about it and do nothing.
Make no mistake, the markets will continue to their demise as they should, but we do know that most of this "implosion" was manufactured. In fact, a surprising number of average Americans strongly suspect, or truly KNOW that our current situation is the intent of a few worthless scum.
Subsequently, when TSHTF, most of Americans that do suspect will react accordingly, and likely bring several more along with them.
When will this be? Not quite sure, but my guess is when UN sanctioned troops start showing up in various major metros...At that point it WON'T be too late. It'll just be getting started.
In the interim, keep watchin the news...My guess is that a number of our "trusted" officials might be finding themselves significantly busier defending themselves in court. |
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Anonymous Coward
User ID: 522623
10/10/2008 9:27 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
shadowstats figure real unemployment at 12%)......no jobs, no credit, no money, no consumption. Businesses are closing or downsizing everyday.
Yup. And soon to be much higher. Wonder if it'll double. The depression was 25% for years on end. Quoting: Anonymous Coward 513691
Wonder what our "New Deal" is going to be? Will our WPA programs be refurbing HUD houses for the new batch of subprime holders? |
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summers
User ID: 522986
10/10/2008 9:35 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Very well said; however, corporatism has been evolving for years in this country. It's now finally to the point where they believe that they can rub it in our faces due to the complexities, and their ill conceived perception of popular ignorance. They believed that the overall induced apathy within our country will keep them safe to pursue their dreams.
They've miscalculated.
Have the really miscalculated?
I suspect not. The announcements made all week are preset triggers. This is exactly what is meant to happen.
Is the stock market going to fail, is it going to be OK? How long will it last?
Who knows. NOBODY has any idea. Economists are treading on each others toe's with predictions a plenty, and the only thing they have in common is that none of them are correct.
Through this mass-confusion NLP that's going on in the media, combined with staged 'recovery' announcements by the Pres and Paulson that are designed to derail the economy further with every sentence, the moves are being made.
Yes. They believe that the American people are going to simply whine about it and do nothing.
Make no mistake, the markets will continue to their demise as they should, but we do know that most of this "implosion" was manufactured. In fact, a surprising number of average Americans strongly suspect, or truly KNOW that our current situation is the intent of a few worthless scum.
Subsequently, when TSHTF, most of Americans that do suspect will react accordingly, and likely bring several more along with them.
When will this be? Not quite sure, but my guess is when UN sanctioned troops start showing up in various major metros...At that point it WON'T be too late. It'll just be getting started.
In the interim, keep watchin the news...My guess is that a number of our "trusted" officials might be finding themselves significantly busier defending themselves in court. Quoting: Anonymous Coward 467001
Well I sincerely hope you're right on this one |
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Anonymous Coward
User ID: 473807
10/10/2008 9:35 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
---------------------------------------------------
BINGO
The consumption monster is full, some how they have to figure out a way to trick the consumption monster that it's not full and needs to eat more.
Quoting: Anonymous Coward 473807
How the hell they going to do that when 11 million people are out of work (that have filed unemployment, shadowstats figure real unemployment at 12%)......no jobs, no credit, no money, no consumption. Businesses are closing or downsizing everyday. Easy credit means nothing without an underlying employment structure to support it.
These jackholes are clueless.
-------------------------------------------------------
"How the hell they going to that"
you win the prize---they can't, we are as a society consummed out--------that's why it's GAME OVER! |
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Anonymous Coward
User ID: 376019
10/10/2008 9:41 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
So taxpayer dollars are going to go further with equity purchases.
First the US taxpayers were going to make a profit when the toxic assets rose in value, but now the government are buying stakes in institutions? Who decides when to recoup that money?
OK This is my new theory....
The bailout was specifically to raise money for the federal purchase of equity, under the guise of buying bad assets. This could almost be seen as a step for the future in the sense that once martial law has been declared following a financial meltdown of epic proportions, and order is eventually restored, they own the economy Quoting: SUMMERS 520303
Close, they've owned it since 1933... they are just preparing the way to tell everyone .... |
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Anonymous Coward
User ID: 376019
10/10/2008 9:52 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
---------------------------------------------------
BINGO
The consumption monster is full, some how they have to figure out a way to trick the consumption monster that it's not full and needs to eat more.
How the hell they going to do that when 11 million people are out of work (that have filed unemployment, shadowstats figure real unemployment at 12%)......no jobs, no credit, no money, no consumption. Businesses are closing or downsizing everyday. Easy credit means nothing without an underlying employment structure to support it.
These jackholes are clueless. Quoting: Anonymous Coward 522623
Actually, thats the plan
All "UScitizens" must pay the National Debt, so they'll give you a job in a corporation which received massive loans to even open.
Thats you paying your debt to society. |
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Anonymous Coward
User ID: 376019
10/10/2008 9:58 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
Communism---the state realizes the profits and the losses
corporatism--the corporation realizes the profits and the state realizes the losses--privatize the profits, socialize the losses.
I like your research, but honestly there is more to COrporatism than that. You can find writings of Noam Chomsky that show accurately the capitalist West has been doing the Private profits/Socialized losses thing for a very long times. However, this is simply not the same as the Government OWNING mortgages, banks, insurance companies and financial institutions. Quoting: Anonymous Coward 475505
The government wont own them, they are insolvent and in Debt 9 Trillion.
The United States CREDITORS will own them.
Now, depending if you are a freeman , or a attornry this will mean two things.
Bankers are the Creditors ...
or...
"We the People" are the Creditors
(Hint: We the People are not UScitizens, UScitizen is a title) |
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SUMMERS
User ID: 522986
10/10/2008 10:01 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
(Hint: We the People are not UScitizens, UScitizen is a title) Quoting: Anonymous Coward 376019
I think a lot more people should start reading about natural law, and specifically about the above statement |
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WalkerTalker
User ID: 521183
10/10/2008 10:01 PM | |
WalkerTalker
User ID: 521183
10/10/2008 10:01 PM | |
Anonymous Coward
User ID: 269684
10/10/2008 10:03 PM | | Re: BREAKING NEWS - Henry Paulson about to address media re: G7 | Quote |
I don't give a flying shit about no G7 or anybody else. They are all a bunch of crooks that don't "give a flying shit" about you...only themselves! They are laughing all the way to the bank! Well, Fuck you! In the end, they will lose. See you on the concrete, Baby! |
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