lovetotravel Posted August 15, 2011 Share Posted August 15, 2011 Yesterday Dylan Ratigan went on an epic anti-Wall Street, anti-money printing, anti-Congress rant that we hear blew up on his Facebook page like never before. Here's The Epic Dylan Ratigan Rant That Everyone Is Talking About http://www.businessi...gan-rant-2011-8 Great video. Thanks for sharing. I think this guy is right on. I also like this guy on CNN. Good article: Fareed Zakaria http://globalpublicsquare.blogs.cnn.com/2011/08/14/why-china-needs-u-s/?hpt=hp_c1 Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2011 Share Posted August 15, 2011 Here's a good rant on US debt - http://www.zerohedge.com/contributed/romer-lies an ignorant calling another ignorant a liar. both should do some "spade" homework. Princeton, MIT, Berkley...? my àss! Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 Great video. Thanks for sharing. I think this guy is right on. I also like this guy on CNN. Good article: Fareed Zakaria http://globalpublicsquare.blogs.cnn.com/2011/08/14/why-china-needs-u-s/?hpt=hp_c1 yes China is an interesting case I often consider how you hardly ever hear about it it interfering in other countries affairs. It just seems to quietly mind its own business and concentrate on developing its economy. But sometimes you realise why would it want to get involved in global conflicts when it's got quite enough to worry about on its own doorstep ? Thousands Riot in Southwest China Town But Chinese authorities are wary of any discussion of such discontent spreading, and by Friday morning, searches on Weibo for Qianxi County and even Guizhou province were largely blocked on Weibo, with a message saying the “relevant legal regulations” prevented showing the search results. Users nonetheless posted comments, and some drew sardonic parallels with the recent riots in London and other English cities. “In fact, China has riots more serious than England’s every week,” said one Weibo comment. http://peakoil.com/publicpolicy/thousands-riot-in-southwest-china-town/ Link to comment Share on other sites More sharing options...
ronz28 Posted August 15, 2011 Share Posted August 15, 2011 Buffett tells Congress to stop coddling the super-rich and acknowledges that his tax rate was only 17.4% http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?_r=1 Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 Great video. Thanks for sharing. I think this guy is right on. lovetotravel if you liked Ratigan how about this one by Felonious Munk? But I warn people before they watch it contains some graphic language Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 The angry black man in the video is angry at the wrong people -- http://www.washingtonpost.com/business/economy/steven-pearlstein-blame-for-financial-mess-starts-with-the-corporate-lobby/2011/08/08/gIQA3zMlDJ_story.html Blame for financial mess starts with the corporate lobby Link to comment Share on other sites More sharing options...
lannarebirth Posted August 15, 2011 Share Posted August 15, 2011 The angry black man in the video is angry at the wrong people -- That's because the arch-criminal Rubin is keeping a low profile these days. Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 The angry black man in the video is angry at the wrong people -- http://www.washingtonpost.com/business/economy/steven-pearlstein-blame-for-financial-mess-starts-with-the-corporate-lobby/2011/08/08/gIQA3zMlDJ_story.html Blame for financial mess starts with the corporate lobby And what about the banksters ? Team Obama including Eric Holder had the perfect opportunity to prosecute and jail those responsible for starting the financial crisis and yet chose to do nothing? is that because they are all part of the same machine? Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 And what about the banksters ? Team Obama including Eric Holder had the perfect opportunity to prosecute and jail those responsible for starting the financial crisis and yet chose to do nothing? is that because they are all part of the same machine? You may have point there. But that video guy is ignorant. Debt can be useful especially when the cost of borrowing is almost zero and the economy is so bad it could use much more stimulus NOW. Long term debt is long term. Short term the most critical crisis in the US is JOBS and slow growth. Link to comment Share on other sites More sharing options...
lannarebirth Posted August 15, 2011 Share Posted August 15, 2011 And what about the banksters ? Team Obama including Eric Holder had the perfect opportunity to prosecute and jail those responsible for starting the financial crisis and yet chose to do nothing? is that because they are all part of the same machine? You may have point there. But that video guy is ignorant. Debt can be useful especially when the cost of borrowing is almost zero and the economy is so bad it could use much more stimulus NOW. Long term debt is long term. Short term the most critical crisis in the US is JOBS and slow growth. There is no spending of which I am aware that has a lower return on investment than government spending. I'm not anti-government but I am anti deficit spending. Politicians need to do their jobs and through large scale cutting and small scale tax increase (better to start over with whole taxcode with a blank page) they need to learn how to spend no more than they take in, NOW. Thinking only about short term considerations is how these problems have developed to the size they are now. Link to comment Share on other sites More sharing options...
flying Posted August 15, 2011 Share Posted August 15, 2011 they need to learn how to spend no more than they take in, NOW. Thinking only about short term considerations is how these problems have developed to the size they are now. So simple & yet so hard for many to comprehend Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2011 Share Posted August 15, 2011 Regarding the CHF, I am still holding it, but I have the feeling that it's rise has now taken unnatural proportions. At some point, the CHF will be unhealthily high and bound to give way. When?Regarding the CHF, I am still holding it, but I have the feeling that it's rise has now taken unnatural proportions. At some point, the CHF will be unhealthily high and bound to give way. When? I don't know, but we are nearly at 1 EUR = 1 CHF and 1 CHF = over 40 THB. And the Swiss economy will be hit hard by the EURO crisis. So, what are the thoughts on the CHF? some of my friends went short CHFEUR @ 1.35, 1.25, 1.20, 1.10 and every time they were bleeding. yesterday at 20.20 hrs CET the rate was 1.0095 and then recovered to 1.03xx. Manarak, i agree with your "...bound to give way" but i'm not selling one single "Fränkli" as long i don't see some light at the end of the €U-ClubMed bailout tunnel. Agreed. the recent CHF move on the SNB's announcement shows how nervous people are about the swiss franc's price level. I expect the CHF will recover to the level where it was before the rumor of EUR-peg went out, but I also expect it not to raise much more, due to the SNB going to play "crazy Ivan" if it goes higher, because the SNB's chief's job is in jeopardy. He will do something foolish to stop the CHF from appreciating more. So time has come to switch from CHF to something else. Naam, what are the @n@ls at your bank saying about AUD? Are russia, turkey, brazil worth considering? what other options are there? apropos "agreed". i changed my mind (see "where is gold going...") -AUD... out a couple of weeks ago and now step for step in again, overnight rate 4.32% -Turkey... TRY still falling vs USD and EUR. don't try to catch a falling knife! -Brazil... BRL a beauty! you can't hold BRL cash offshore except investing/trading non deliverable forwards. but there is a bunch of AAA rated debtors which yield in excess of 9% on short term (1-2 years) maturities. presently i am in NDFs to hedge my exposure in http://www.comdirect.de/inf/anleihen/detail/uebersicht.html?SEARCH_REDIRECT=true&ID_NOTATION=23053799&SEARCH_VALUE=XS0324836153&REFERER=search.general&REDIRECT_TYPE=ISIN http://www.comdirect.de/inf/anleihen/detail/uebersicht.html?ID_NOTATION=20914655 Russia... no Rubles for me. -CHF down vs EUR nearly 14% in five trading days. talk about peg to EUR at 1.15 but no explanation how it can be achieved respectively held steady. perhaps concerted actions by ECB and SNB? -Anglo clowns on both sides of the Atlantic keep on spreading their EUR doom&gloom to divert from their domestic problems. Link to comment Share on other sites More sharing options...
churchill Posted August 15, 2011 Share Posted August 15, 2011 they need to learn how to spend no more than they take in, NOW. Thinking only about short term considerations is how these problems have developed to the size they are now. So simple & yet so hard for many to comprehend But now with the mess they are in - Is not targeted spending on useful infrastructure projects sensible ,tax cuts to encourage small business etc , now is not the time to tighten - they should redirect spending from military , Government etc but that will take too long - .. and so they need a stimulus now with credible spending cuts penciled in the future ? They can borrow now ! at very low rates to invest in infrastructure , so reduce umemployment and hopefully promote growth - Otherwise cuts , more unemployed , housing further depressed ..... higher rates , more debt .... What other way at this time -so more spending ..... ? Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2011 Share Posted August 15, 2011 now is not the time to tighten - they should redirect spending from military , Government etc but that will take too long... how long does it take for Cameron to stop "enforcing the no-fly zone in Ghadhafi country and use the money more wisely?" Link to comment Share on other sites More sharing options...
churchill Posted August 15, 2011 Share Posted August 15, 2011 now is not the time to tighten - they should redirect spending from military , Government etc but that will take too long... how long does it take for Cameron to stop "enforcing the no-fly zone in Ghadhafi country and use the money more wisely?" Yep - I was thinking more of the US ... Link to comment Share on other sites More sharing options...
lovetotravel Posted August 15, 2011 Share Posted August 15, 2011 Great video. Thanks for sharing. I think this guy is right on. lovetotravel if you liked Ratigan how about this one by Felonious Munk? But I warn people before they watch it contains some graphic language I hear what he is saying, but he's got a lot of things wrong. First, balancing a checkbook has nothing to do with the deficit. Most folk balance their checkbook and still are in debt big time. Car payments, house payments, credit cards. If done properly and responsibly (which we know is not being done now) deficit spending can be a powerful tool. Second, we aren't borrowing all our money from China. As was posted here before, America's debt is primarily owned by Americans. And as been posted before, it's not about the deficit. It's about the economy and jobs. Link to comment Share on other sites More sharing options...
churchill Posted August 15, 2011 Share Posted August 15, 2011 German Finance Minister Wolfgang Schäuble 'There Will Be No Rescue at Any Price' http://www.spiegel.de/international/europe/0,1518,780248,00.html Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 (edited) The US right wing's stated goal was to do anything necessary to beat Obama in 2012. So they starved the government's ability to do any more desperately needed stimulus spending, cut off the government's power to raise revenues in any way, in effect making any sign of job/growth recovery by election time almost impossible. Cheeky ... and evil. The Americans out there now suffering and yes dying, the right wing simply doesn't care about. Their irrational ideology which is like a fundamentalist religion to them, plus of course their total dedication to serve ONLY the wealthy, rules all for them. http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html Edited August 15, 2011 by Jingthing Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 (edited) The US right wing's stated goal was to do anything necessary to beat Obama in 2012. So they starved the government's ability to do any more desperately needed stimulus spending, cut off the government's power to raise revenues in any way, in effect making any sign of job/growth recovery by election time almost impossible. Cheeky ... and evil. The Americans out there now suffering and yes dying, the right wing simply doesn't care about. Their irrational ideology which is like a fundamentalist religion to them, plus of course their total dedication to serve ONLY the wealthy, rules all for them. http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html I interpreted it in a different way. surely you would have to agree Jingthing there is too much money being wasted at the moment? It's like the right-hand doesn't know what the left hand is doing. For example when you read that NIH spent nearly $20 million to study AIDS among Chinese sporting women doesn't it seem peculiar to you that America is paying this kind of money to carry out research in another country ? I don't know if you consider John Stossel to be a credible reporter bearing in mind he previously worked for ABC but this past weekend he gave a really interesting special presentation entitled " The Money Hole ". He was standing in the middle of a very affluent neighbourhood in New York ( Jerry Seinfeld such people live there ) where they were giving out 45,000 free bicycle helmets to people who have more than enough money themselves to buy these items. http://www.foxbusiness.com/on-air/stossel/blog/2011/06/10/money-hole-tune-sunday-8pm-fox-news-channel-1 This is just a small microcosm of money that is simply being thrown away. Like for example the research on prawns walking the treadmill.was that really necessary? surely they have to stop the mindless and irresponsible spending and then with a clearer view of things really decide responsibly who is in genuine need of financial help? Edited August 15, 2011 by midas Link to comment Share on other sites More sharing options...
cloudhopper Posted August 15, 2011 Share Posted August 15, 2011 Wow bankers are even more despised than lawyers and politicians now - check out this call for revolution I saw on Deninger's blog. http://www.youtube.com/watch?v=JqgDzEqdvb0 Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 (edited) I don't know if you consider John Stossel to be a credible reporterHe's a demagogue. So, no. He does anti-poor people Fox News propaganda pieces. How can you call him a reporter? Edited August 15, 2011 by Jingthing Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2011 Share Posted August 15, 2011 German Finance Minister Wolfgang Schäuble 'There Will Be No Rescue at Any Price' http://www.spiegel.de/international/europe/0,1518,780248,00.html if Angie says "Wolfgang jump!" Schäuble will jump with his wheelchair. but of course Angie will not give that order without control and a fiscal union. that goes without saying. Link to comment Share on other sites More sharing options...
Naam Posted August 15, 2011 Share Posted August 15, 2011 German Finance Minister Wolfgang Schäuble Schäuble: The two are inextricably linked, but let me say it once again, very clearly: The euro is not going to fail. Naam too confirmed that in Thaivisa economic forum. Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 (edited) I don't know if you consider John Stossel to be a credible reporterHe's a demagogue. So, no. He does anti-poor people Fox News propaganda pieces. How can you call him a reporter? oh that's not fair Jingthing. You must be referring to an earlier special he did entitled " Freeloaders " he was legitimately exposing people who claim to be poor but were not " Some Americans actually make a living … begging for money. Professional panhandlers, they’re called, sometimes making more than $100 in a day. I tried it in Manhattan, and made over $11 in one hour—that would be $23,000 a year—tax free! I look at how government turns people into freeloaders Did you know that any black person who has farmed or “attempted to farm” can collect $50,000 from the Federal government? “Attempted to farm could mean anything,” says black farmer Jimmy Dismuke, “My little three year old grandson could attempt it." from Freeloaders Edited August 15, 2011 by midas Link to comment Share on other sites More sharing options...
cloudhopper Posted August 15, 2011 Share Posted August 15, 2011 German Finance Minister Wolfgang Schäuble Schäuble: The two are inextricably linked, but let me say it once again, very clearly: The euro is not going to fail. Naam too confirmed that in Thaivisa economic forum. Here's the take on it from your favorite source - http://www.zerohedge.com/news/schauble-there-help-point-and-who-willing-force-constitutional-change-push-eurobonds Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 Here's another excellent argument about how in the US, it is not the debt that is the real current crisis, but rather lack of growth, lack of jobs, and the rich winning the class war against the US poor ironically helped by the tea party who often know not what they do, running away from their citizenship responsibility to pay for the mess that THEY (the ultra rich) created. Politically, this message needs to get out there, to oppose the poisonous tea party. http://www.bloomberg.com/news/2011-08-15/the-real-u-s-crisis-is-not-a-debt-downgrade-commentary-by-simon-johnson.html Someone Pays To control future debt levels, someone has to pay for that fiasco. But people in high-income brackets, working with various allies, have dug a brilliant defense against tax increases in the form of the Tea Party. Backed by 30 percent of the population, this group exploits the broad design of the U.S. Constitution, which gives well-organized minorities an effective veto power over major policy changes. The result is that, instead of letting President George W. Bush’s tax cuts for the rich expire, we are headed for deep spending cuts that disproportionately affect the less-well-off. Link to comment Share on other sites More sharing options...
Jingthing Posted August 15, 2011 Share Posted August 15, 2011 I don't know if you consider John Stossel to be a credible reporterHe's a demagogue. So, no. He does anti-poor people Fox News propaganda pieces. How can you call him a reporter? oh that's not fair Jingthing. You must be referring to an earlier special he did entitled " Freeloaders " You're wrong. He's on FOX all the time unloading the predictable rhetoric that we have to freeze spending and can't have tax increases. It's the pure and totally dangerous fundamentalist ideology of the far right than consistently demonizes both poor and middle class people. You can't call such a person a reporter if everything coming from him is on message, the far right elitist message. Link to comment Share on other sites More sharing options...
midas Posted August 15, 2011 Share Posted August 15, 2011 I don't know if you consider John Stossel to be a credible reporterHe's a demagogue. So, no. He does anti-poor people Fox News propaganda pieces. How can you call him a reporter? oh that's not fair Jingthing. You must be referring to an earlier special he did entitled " Freeloaders " You're wrong. He's on FOX all the time unloading the predictable rhetoric that we have to freeze spending and can't have tax increases. It's the pure and totally dangerous fundamentalist ideology of the far right than consistently demonizes both poor and middle class people. You can't call such a person a reporter if everything coming from him is on message, the far right elitist message. i dont care if Mickey Mouse presented the report .... i am more interested in seeing examples of how Obama and his followers are squandering money Link to comment Share on other sites More sharing options...
cloudhopper Posted August 15, 2011 Share Posted August 15, 2011 I don't know if you consider John Stossel to be a credible reporterHe's a demagogue. So, no. He does anti-poor people Fox News propaganda pieces. How can you call him a reporter? oh that's not fair Jingthing. You must be referring to an earlier special he did entitled " Freeloaders " You're wrong. He's on FOX all the time unloading the predictable rhetoric that we have to freeze spending and can't have tax increases. It's the pure and totally dangerous fundamentalist ideology of the far right than consistently demonizes both poor and middle class people. You can't call such a person a reporter if everything coming from him is on message, the far right elitist message. Well I guess this was inevitable after they belatedly put the news thread that was actually about this topic out of its misery. Link to comment Share on other sites More sharing options...
ronz28 Posted August 15, 2011 Share Posted August 15, 2011 You're wrong. He's on FOX all the time unloading the predictable rhetoric that we have to freeze spending and can't have tax increases. It's the pure and totally dangerous fundamentalist ideology of the far right than consistently demonizes both poor and middle class people. You can't call such a person a reporter if everything coming from him is on message, the far right elitist message. i dont care if Mickey Mouse presented the report .... i am more interested in seeing examples of how Obama and his followers are squandering money The fact is Congress is squandering money on tax breaks for the likes of Billionaire Buffett to give him a tax rate of 17.4% not the 35+% the Tea Party/Republicans cry/lie about and Congress continues to spend trillions on useless defense projects and wars to enrich the military-industrial complex. What you cite is wasteful peanuts... focus on the big picture. Link to comment Share on other sites More sharing options...
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