Dylan Ratigan exposes class warfare of MSNBC Wall Street oligarchy

http://www.msnbc.msn.com/id/22425001/vp/32267543#32267543

IMO Ratigan is the only positive, progressive voice on TV right now… certainly the only one on MSNBC/the Brzezinski Channel.

China’s “New Deal” bailout NOT for toxic derivatives paper

Instead of giving the money to bankers to bailout toxic paper, China is following in the footsteps of Franklin Roosevelt’s New Deal. It will be interesting to see which plan actually works, the US or China’s.

The 4 trillion yuan plan ($849 billion), equivalent to about 20% of China’s GDP, is the biggest injection of cash by a government in history.

The Chinese package is expected to focus overwhelmingly on construction. A statement by China’s State Council said the money would be spent on 10 projects including low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding from disasters.

theage.com.au (nov 11): The Great China Bailout

It is also interesting that China expects its own population to pick up the slack in business lost to Chinese factories because Americans are spending less.

The measures are just shy of the $700bn (£442bn) bail-out promised by the United States, but are wider and more comprehensive than the American plan.

The Chinese government said it would “massively” crank up its spending on roads, railways, healthcare, education, power grids and low-cost housing. It also abolished the tight limits on lending that applied to banks, in a move that will open up credit to tens of millions of riskier borrowers.

The State Council said it would boost the economy partly through hiring millions of workers to build a slew of new projects and partly by encouraging Chinese, who are traditionally inclined to save their money, to spend more.

The government hopes that Chinese households will replace American families as the main customers for China’s slew of low-cost factories. Currently, almost 40pc of China’s economy is tied to exports.

Timothy Bond, chief Asian economist at Merrill Lynch, compared the package to Franklin Roosevelt’s New Deal, which shored up the American economy after the Wall Street crash of 1929. “The past two weeks have emphasised a simple point,” he said. “Policy works. In China’s case we expect this positive policy to prevent a sharp slowdown.”

He added: “Financing is not an issue. Public debt is only 21pc of gross domestic product.” In the UK, the official statistics show public debt is 43.4pc of GDP, while the ratio is nearly 61pc in the US.

telegraph.co.uk (nov 10): China’s bailout package hailed as ‘New Deal’ for its people

video: CEO Richard Fuld collects $480 million for destroying Lehman Bros & retirement funds, gets knocked out cold

Ok, small consolation here but it’s still entertaining to hear about Lehman Bros CEO getting knocked out after bankrupting the company… He still made out like a bandit, to the tune of $480 million. Fuld should be jailed, his assets should be seized and distributed to the people who lost money… stealing from ppl’s retirement fund is about as reprehensible an act as one can commit. Old people will suffer as a result of this.

The other funny thing is – I’m not sure anyone noticed, but – the hedge fund in question was named Harbinger, as in Harbinger of DOOM. How prophetic.

bailout: why $700 billion, anyhow?

In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

Audio: Webster Tarpley – House of Representatives REJECTS $700 Billion Bailout. America wakes up for the first time in 35 years. The time has come to nationalize the US Federal Reserve

If there is one post you should read on this blog, it’s this one.

September 29, 2008 was a historic day for America and getting out from underneath Wall Street oppression.. the first of many, i hope.  Forget what the talking heads are saying, yesterday was a Victory of Populism. The only thing the market lost yesterday was a bunch of numbers in an accounting book. God didn’t come down and take $1.2 trillion worth of property from the world. Factories didn’t disappear, only paper. And paper “assets” are NOT real.

Expect the oligarchy to try every scare tactic in the world to try and extort money from America… but do NOT submit and they will collapse into their own derivatives black holes. BE STRONG and invest in sustainable production, local communities, things in the REAL world.  Real commodities, real production. NOT futures.  NOT indexes.  NOT paper gambling.

They will NOT tell you the people are winning.  DOWN WITH OLIGARCHY!

Audio mp3:

1. 2008.09.29 Tarpley, Webster – Rense – 1 of 2
2. 2008.09.29 Tarpley, Webster – Rense – 2 of 2

Transcript PDF:

• Tarpley, Webster (2008.09.29) America Wakes Up – Rense

Transcript HTML:

Time: Let Risk-Taking Financial Institutions Fail

Wow.. Time magazine printing the truth…

Do not be fooled. The $700 billion (ultimately $1 trillion or more) bailout is not predominantly for mortgages and homeowners. Instead, the bailout is for mortgage-backed securities. In fact, some versions of these instruments are imaginary derivatives. These claims overlap on the same types of mortgages. Many financial institutions wrote claims over the same mortgages, and these are the majority of claims that have “gone bad.”

At this point, such claims have no bearing on the mortgage or housing crisis; they have bearing only on the holders of these securities themselves. These are ridiculously risky claims with little value for society. It is as if many financial institutions sold “earthquake insurance” on the same house: when the quake hits, all these claims become close to worthless — but the claims are simply bets disconnected from reality.

It’s the Derivatives, Stupid!

Web of Debt, by Ellen Hodgson Brown

Ellen Brown explains the web of control of the world financial system by Wall St financiers.

EXCELLENT article!

audio: Rep. Bart Stupak on Oil Speculation

Rep. Bart Stupak D-Mich

audio: Rep. Bart Stupak on Oil Speculation

BBC: Warren Buffett warns derivatives are “financial weapons of mass destruction”

warren buffett warning about derivatives