Courage to Save the U.S. Auto Industry

November 19, 2008 at 1:15 pm | Posted in Financial, Political | Leave a comment
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Watching the heads of the three U.S. auto manufacturers testify before the House Financial Services Committee, all I see is more of the same, lame circus that is the material life of America in the 21st century.

If these brain dead piles of driftwood calling themselves “representatives” cannot see the auto industry represents untapped capacity to fashion the equipment and tools necessary to revitalize the nation’s infrastructure, such that this country might once again become a net-exporting, powerhouse of physical goods production, then why don’t they just step down and go back to their law practices where they can manage their ways to the millions of dollars awaiting prosecutors of the unprecedented fraud that has been perpetrated by Wall Street financiers on their watch?

That U.S. auto executives have to waste their time sitting in front of these pathetically weak characters … that they do not see the $25 billion the auto makers need to stay afloat is a pittance — a drop in the bucket … is proof enough any sane American need see to recognize these folks are not up to the task of public service.

And that these so-called “industry leaders” are not calling Congress out on this is an even more disgusting sign of the times in which we live. The “home of the brave?” Ha! It plainly has become the burrow of the yellow-bellied coward. Plainly, to get anywhere in this nation it appears a pathetic, driveling suit is what you must reduce yourself to be if you are to gain the credentials to “lead”…

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Suicides from financial crisis cause concern

October 14, 2008 at 1:39 pm | Posted in Financial | Leave a comment
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Just came across this sad article.

Suicides from financial crisis cause concern

I had heard last week about the man from Los Angeles who offed his entire family.

I also heard Congressman Dennis Kucinich (D-OH) tell the story about the 90 year old widow from Akron. This was during the debate over the $700 bn Wall Street bailout on October 3rd.

The degree to which a Congress charged by the U.S. Constitution to “promote the general Welfare” does not give full vetting to life and death matters directly impacted by their dealings is scandalous. Such is life among pathetic jellyfish I suppose. How the likes of Kucinich come to represent but a minority sentiment in the House is nothing short of tragic. Sad, too, is how this reflects the face of a nation that, itself, appears suicidal…

Kucinich UFO Kidnaps Russert, Demands Mr. Market

June 14, 2008 at 7:35 am | Posted in Financial, Political | Leave a comment
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Tim RussertThey say the pen is mightier than the sword…

Today’s headline is my tribute to Tim Russert on his passing … written as an opponent to NAFTA, the WTO, unrestrained free trade, globalization and a media so sold out to British Toryism that, on the passing of one of its own, I will take the road less traveled and fight fire with fire.

Anyone who has been closely following the presidential campaign since last year — probably the most important in our lifetimes … now reduced to another heaping helping of more of the same disgusting Toryism so far removed from the principles enunciated in our Constitution’s Preamble it baffles a thinking man’s imagination — knows precisely what the headline to today’s post means. On this count, then, I need not say any more than that, I am willing to wage a noble battle in the spirit of the American Revolution … even over the body of a dead man.

Now, about that ransom…

If you have read “Reminiscences of a Stock Operator,” you have some sense of how the stock market’s strong hand insiders work to shake weak hands of their shares. A moment for such an event appears to be imminently at hand.

Conditions going into options expiration week are eerily similar to October, 1987.

This is an outlook I make neither lightly nor without substantiation. Conditions promoting extreme volatility have been well-baked into our contemporary world’s financial arrangement. This has in no small part come about as a consequence of a media lacking courage to exercise its freedom of expression and fortitude to speak out against tyranny whose present manifestation is no different than 232 years ago.

The American media’s absent embrace of the principle of classical humanism and its historical representation through the Great American Experiment is what ought rightly be mourned, rather than the loss of a practitioner of the art of deception.

Why Jamie Dimon Should Head the CFTC

April 29, 2008 at 11:52 am | Posted in Financial | Leave a comment
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Where\'s all this money coming from?April 21 – Financial Times (Javier Blas and Joanna Chung): “Speculators such as hedge funds or pension funds are not responsible for pushing agricultural commodities’ prices, including wheat and rice… The US Commodity Futures Trading Commission is meeting farmers and traders tomorrow to discuss the jump in agriculture commodities’ prices amid criticism from US politicians and farming associations that speculators are behind the increase. It will say prices have been driven by robust demand, weather-related supply disruptions, the lowest inventories in 30 years, government trade restrictions and the impact of the weakening US dollar, officials said.”

If you ever heard JP Morgan/Chase CEO Jamie Dimon speak about circumstances surrounding the inflation of the sub-prime mortgage bubble prior to its bursting last year, you know the man is not a very good liar.

Speaking of that inflation… Lo! Look at the money-like securities created more rapidly than maggots in a dung heap. And look at all the global connections to this, including sovereign wealth funds.

Now, speaking of maggots in a dung heap … look at the CFTC.

Those citing increased demand as responsible for the hyper-inflation of commodities prices typically do so without raising the most fundamental question of all:

Where is the money behind this demand coming from?

If the truth you seek, then by all means ask neither Wall Street nor their “regulators.”

How Wall Street Insults an American’s Intelligence

April 22, 2008 at 2:56 pm | Posted in Financial | Leave a comment
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April 18 – Bloomberg (Lars Paulsson): “A shortage of electricity generation that shows no sign of abating is underpinning gains in global commodity prices, according to analysts at Goldman Sachs… A lack of infrastructure in South Africa, Latin America, China and Australia has led to the disruption of feedstock supplies or halted power generation… ‘One of the key themes that seems to pervade the entire commodities complex is the significant shortage of power generation throughout the world,’ they said.”

Not one word about “the greatest flood of liquidity since Noah!” (Spoken a few years back by Goldman’s very own Robert Hormats)

Money makes the world go round. “Money,” leverage and exclusive control over the arrangement alone are responsible for commodity prices being bid up such as we are seeing. There’s NO WAY electricity shortages could be having THIS impact.

This report from Goldman Sachs seems nothing more than a pathetic attempt at CYA … demonstrating once again how these Wall Street firms who have profited immensely in perpetuating this mess simply are incapable of self-regulation.

Dr. Doom Lectures “Henry Potter” Paulson

April 21, 2008 at 4:46 pm | Posted in Financial | Leave a comment
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Starring in \"It\'s a Wonderful Knife\"April 14 – Financial Times (Aline van Duyn): “Henry Kaufman, the distinguished Wall Street economist, has added his voice to the debate about the Federal Reserve’s role in the credit crisis… ‘Certainly the Federal Reserve should shoulder a substantial part of this responsibility. . . it allowed the expansion of credit in huge magnitudes,” Mr Kaufman said. ‘Besides its monetary policy approach, [the Fed] really indicated very clearly that it was performing its role as a supervisor . . . in a minute fashion, not in an encompassing fashion. Monetary policy had a high priority, supervision and regulation within the Fed had a smaller priority.”

Not the kind of pronouncement that makes many friends in the circle of nation wreckers, huh Mr. Paulson.

21st Century Bank Robbery

April 18, 2008 at 11:38 pm | Posted in Financial | Leave a comment
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April 7 – Bloomberg (Jeremy R. Cooke): “U.S. state and local borrowers from Denver to Atlanta, battered by rising interest costs from the collapse of the auction-rate bond market, now face rising fees to replace the debt. Denver found only five banks willing to provide backing for new variable debt to replace $208 million of auction bonds, down from 30 five months ago… The cost to line up a buyer of last resort in case such bonds, variable-rate demand obligations, go unsold when yields are reset jumped as much as fourfold to $400,000 on $100 million of securities a year, borrowers say.”

The First Bank of the United StatesSuch is the state of finance under the British system of free market usury…

We ought to find courage to return the Bank of the United States, so finance based on the principles enunciated in our Constitution’s Preamble might be reinstated.

Legislation like HR 3400 — The Rebuilding America’s Infrastructure Act — comes to mind. Check it out. It makes financing available at minuscule rates of interest to states and municipalities.

Contrast this to the schemes being hatched by such neo-fascists as Mayor Bloomberg, Governor Schwarzenegger, Governor Rendell, Senator Dodd and others. Their Public-Private Partnerships are not to be confused with the American System of Political Economy. Rather, the arrangements these so-called “leaders” promote are straight from the play book of Benito Mussolini’s Fascisti.

Sound banking obviously is a cause for which we have yet to wage the final war against tyranny…

Financial Regulation To Serve Liberty?

April 17, 2008 at 2:07 pm | Posted in Financial | Leave a comment
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April 10 – Bloomberg (Patricia Kuo and Bei Hu): “Billionaire George Soros said the seizure in global credit markets caused by the subprime collapse will get worse before it gets better. Lack of oversight is partly responsible for problems in the financial markets, Soros told reporters… He said regulators and the U.S. administration ‘failed to perform their job’ in a crisis that began in the U.S. housing market… ‘This is a man-made crisis and it’s made by this false belief that markets correct their own excesses,’ Soros, 77, said. ‘It will take much longer for the full effect of the decline in the housing market to be felt.’”

U.S. Press, Publishing MagnateContrast this to Wall Street investment bankers who, instead, talk up their books. Thus, the question becomes:

Why is the so-called free press dissing the arrangement they have otherwise so dutifully helped promote?

What perception is purposely being cultivated here, and to what end?

Is this all damage control meant to strengthen the myth the United States conducts its affairs in harmony with the principles for which it was formed … that a few bad apples have spoiled the pie?

Or is the next big lie — following the one about the magic of the marketplace — about to be sprung?

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