US Downgrade - 08-05-2011

Oh and btw, that US Treasury bond downgrade to AA+.. That was expected. Was it really a surprise?

Now here's my thoughts...

The banks and insiders are blackmailing the government into giving them more. That "more" could be a greater piece of the budget, tax breaks, decriminalization, policy enactments, more bailout, foreign wars, etc. Whatever it is, it is just a rouse to tank the economy and stock market to scare them into producing a policy to the insiders' benefit.

All the while, the people of the Republic let it happen. Here's a great blog post from Vincenzo on the IrvineHousingBlog that I have been saving up:

Alexander Tyler was a 18th century historian/economist who wrote “The Cycle of Democracy” in 1778.

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on the majority always votes for the candidates promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy followed by a dictatorship.

The average age of the world’s great civilizations has been two hundred years.

These nations have progressed through the following sequence: from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency from complacency to apathy, from apathy to dependency, from dependency back to bondage.”

Nomi Prins: Another wall street insider

Nomi Prins is another career wall street insider with some hanging guilt. She airs some dirty laundry on GRITtv with Laura Flanders. She has out the book It Takes a Pillage.

Nomi Prins talks about the motivations inside of an investment bank - Part 1


Nomi Prins talks about the motivations inside of an investment bank - Part 2

William K. Black on Democracy Now! 10-15-2009

Ahhh! I'm a bit late with discovering this interview.

The latest dirty laundry gets aired. The reforms on derivatives are a scandal since they exempt all the troublesome derivatives. It was found out via the Pecora Commission, around the Great Depression, that certain elites were given stock at half of the market price, and one of them was the former president! The current "Pecora Commission" in place is a fake and the politicians are arrogant enough to coverup the coverup in public.

"Well, I mean, Summers, for example—you talked about Geithner’s aides and how much money they had made, and, of course, it’s absurdly large, and they’re making it typically for not doing much of anything. But they’re taking their cue from Summers, who got $5 million, roughly, for working one day a week in areas he had no expertise. So, you know, once you leave the federal service, then these interests that you were very helpful to find a way to make you spectacularly rich, and they know that that’s what’s coming in their future. That’s part of the problem.

But the bigger part of the problem, in many ways, is that they have such an ideology about the market and its ability to deal with all problems that has no basis in reality, has been exposed in this crisis as completely fictional, and yet they can’t give it up. I mean, think of yourself as one of these professors who’s been trained in the Milton Friedmanish views, and you’re in your fifties, and you’ve been saying—you know, everything you’ve said in your career is wrong. Everything you’ve learned in your career is wrong. All of your areas of expertise are wrong. Are you going to admit that? “Hi, I’ve been misleading you, and I’m sorry I caused this disaster. And by the way, I have no meaningful skills or experience". ... It’s not going to happen.” --- William K. Black

William K. Black on Democracy Now! 10-15-2009 Part 2/4


William K. Black on Democracy Now! 10-15-2009 Part 3/4


William K. Black on Democracy Now! 10-15-2009 Part 4/4

Nassim Taleb on MSN 06/2009

As I've been saying, this is an Integrity Crises, not a Financial Crisis.

[MSN Video] Nassim Taleb on MSN 06/2009

Jim Corr: Engineered Financial Collapse

Jim Corr of the Celtic band, The Corrs, believes the global financial collapse has been engineered / planned for purposes of creating a Bank of the World. More details in the video.

When does the IMF help anybody?


Courtesy: Stacy Herbert

Jimm Corr with Matt Cooper 04-23-2009

Financial Crises MOST WANTED Playing Cards

Git your Financial Crises MOST WANTED Playing Cards rite hea!