I am currently moving The Monster, and have been watching/listening to the talking heads in the background; various congressmen/women and senators and I have one question. Who gave them permission to think? They THINK (!) that the senate health reform bill that just came out of committee is going to save money? They THINK? That’s right up there with “they thought” unemployment wouldn’t go over 8% if we passed the porkulus bill, and taxes aren’t going to go up for anybody making under $250K , $200K, $150K, etc. Do people still believe that you can get something for nothing, and that “your taxes won’t go up.”?
Get ready for insane taxes, massive business failure concurrent when the next round of mortgages resets, and hyper-inflation because of the nits at the Fed printing money non-stop. Real unemployment is running in the double digits and has for some states for at least the last month, (mine included).
Can somebody tell the stupid non-reps to stop doing interviews because it is really bothering me, and since they work for us, I still say, “You’re Fired!”.
Evan Newmark, a former employee of Goldman Sachs believes that the reason GS made $3.4 Billion in profit last quarter is because GS was taking risks that other banks were not comfortable with, and that the real loser in this whole deal is the American taxpayer. Well, I guess he is right about the second part, and not wanting to own up to all the help that GS received from the government via every single one of the former GS employees that are part of this government now.
For everything you could possibly want to know about Goldman Sachs, go here, and here, and here.
NEW YORK, July 13 (Reuters) – Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.
The newspaper said that most of the stock sales took place while the biggest U.S. investment bank was bailed out by the government with $10 billion of taxpayer money, according to filings with the Securities and Exchange Commission.
Goldman executives sold stock worth $691 million between September 2008 and April 2009, more than the $438 million in stock sold between September 2007 and April 2008, when the average share price was substantially higher, the Financial Times said.
The stock sales peaked between December and February, when Goldman Sachs’ shares traded near record lows, the newspaper said.
After Lehman Brothers ( LEHMQ – news – people ) collapse froze financial markets, Goldman Sachs was forced to convert into a bank holding company to have access to government funding, and received $10 billion of taxpayer money.
(Author’s Note: See OT Update at end of post about Goldman Sachs “profit”.)
The Dame Truth’s BTR program this past evening with G. Edward Griffin was a thorough success, but after Mr. Griffin ended his interview with The Dame, we were chatting about The Federal Reserve and in passing I said that I could not believe the director of the Ayn Rand Center really thought the Fed was a government agency. This statement was a shocker; so without further ado, here is the clip of Yaron Brook on Glenn Beck from June 18, 2008. (1:40)
Yaron, question for ya? What government agency prints our money and then loans it back to us with some $150 Billion in interest this year alone?
Sounds like a banking cartel to me.
For the newbies among us who still do not know that the Fed is all about the profit on fiat money, go here.
Tuesday’s interview on Constitutional Radio: An American Bastille Day, 9pm est., go here. The best way to describe the contents of this show is going to be showing the True Redistribution of Wealth In America.
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OT Update: We now know that Goldman Sachs just posted a $3.44 Billion (with a B) profit. None of us is surprised about that because we know who and what GS really is.
Since I am down a different rabbit hole right now, I would like to send you over to an excellent article by Glenn Greenwald with a time line and characters, and perhaps more people will start to see what we see about GS being in the background of everything…Here is a just a taste…
Remember all of this — the $700 billion bank bailout, the AIG scandal, dark and scary threats of imminent global meltdown if there wasn’t full-scale capitulation by the citizenry to the immense transfer of public wealth to the private investment banking sector? Such distant, hazy memories: so many exciting celebrity deaths and riveting celebrity resignations ago. If sequences of events like these don’t cause mass citizen outrage, then it’s hard to imagine what will:
WASHINGTON — It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.
Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill, and they were gathered around a conference table in the offices of House Speaker Nancy Pelosi.
The Red Lemur and I have created our very first video for your perusal. We want to thank Congressman Jason Chaffetz (R) Utah for the inspiration for this piece. We hope you like it, send it around if you think it is worthy…and we suggest you put your coffee cups down…(although if coffee were to come out your nose, we would know for sure we had accomplished our purpose. If you enjoyed it, please make sure to go over and rate it so that it rises through the rankings.)
And for those of you in the Beltway; all satire aside, A. We’re mad as hell, B. We probably would not have as much time to pick on you if we had jobs, C. Can you feel us yet? We are perhaps not as stupid as you may have been led to believe. (Red Lemur)
I have been honored with the request to co-host The Dame Truth’s upcoming BlogTalkRadio show “The Dame Truth Welcomes G. Edward Griffin & Logistics Monster” on Monday, July 13th at 8PM EST. As shy and nerdy as I am, I could not pass up this opportunity to talk with the “master” on the subject of the Federal Reserve, discuss the possible connections between the Pilgrim’s Society and the Fed, and the status/future of Ron Paul’s H.R. 1207/S604.
If you have not taken the time to go here and watch G. Edward Griffin’s vids about the banking cartel, now might be a good time to do just that, and then please join us on Monday, and/or call in with whatever questions are still nibbling at your little grey cells. If you still do not know who the Pilgrims are, go here.
Also, the Dame has asked me to do another radio interview on the following day, July 14th, (Bastille Day), on Constitutional Radio to go into more depth about H.R. 2918 and the upcoming State Dept. appropriations bill, H.R. 3081 which starts out like this: “For necessary expenses of the Department of State and the Foreign Service not otherwise provided for, $8,229,000,000…” Does that not make you wonder where all the money is going?
Join The Dame & Drkate for this Two Hour Special with Logistics Monster to talk about some of the dangerous content of the bills Congress is passing without even reading them. It is a good bet that Logistics Monster is the ONLY American actually reading them in their entirety and she will be here to break down in plain language what they actually contain. It being the anniversary of Bastille Day, it is appropriate to learn the truth of the matters at hands, now more than ever!
A few days ago I posted this story about the impending commercial real estate bubble collapse. Add the following editorial from Larry Kudlow of National Review Online and you will see what I have been seeing since the beginning of 2006 when my hours were cut the first time.
I am only quoting the most salient points, so I suggest you wander over and read the whole article, all the while keeping in mind, that no single administration or succession of administrations could possibly be so stupid as to drive America into extinction by accident. Then add the young lawyer and mentor to ACORN (Obama) with their Saul Alinsky and Cloward-Piven strategy who was then installed in our White House to complete the endgame of the strategy, and it is impossible for this student of history to believethat it just happened that way.
There’s no question that current government policies for taxes, spending, and regulation are causing the U.S. to lose competitiveness in the global race for capital, prosperity, and growth.
And China has no capital-gains tax. It only has a 15-to-20 percent corporate tax. The U.S., on the other hand, is raising its cap-gains tax rate to 20 percent. It’s also increasing its top personal tax rates. (emphasis mine)
In fact, the scheduled income-tax hike along with a much-discussed 4 percent health-care surtax will balloon the top U.S. tax rate all the way to 51 percent. And there’s more. In order to finance so-called health-care reform,congressional Democrats are now talking about raising the tax rate on capital gains and dividends by another 1.5 percent while installing a value-added tax (VAT) that would begin at 1.5 percent.
So top tax rates in the U.S. may edge into the mid-50 percent range. Compare that to the OECD average of only 42 percent. And when those tax-hikes kick in, the top U.S. tax rate will rank above that of France, Germany, and Italy. That can’t be good.
Incidentally, our 40 percent corporate tax rate is already almost 15 percentage points higher than the corporate rates in most of Europe.
Washington’s enormous expansion of the state-, local-, and federal-government spending share of GDP to over 40 percent — including Bailout Nation, TARP, and takeovers in numerous industries — is eerily reminiscent of Old Europe’s old policies. And in an ironic twist, Europe seems to be moving toward a lower-tax-and-spend-and-regulate, Ronald Reagan–type approach, while the U.S. is regressing to the failed socialist model of Old Europe. This makes no sense.
Higher tax rates undermine the incentive model of growth. At the margin, investment risk and work effort become less rewarding. On top of this, Obama’s regulatory moves toward greater government control of the economy will further drown animal spirits in a sea of red tape born of bureaucratic officialdom.
Think about this in terms of the threat to nationalize heath care, which is over 15 percent of the economy. (Author’s note: Factor in SEIU who has offices with ACORN and who is teaming up with Wal-Mart to back government healthcare.) Additionally, Washington’s cap-and-trade proposals will essentially nationalize the entire energy sector — another 15 percent of the economy — sending long tentacles into every nook of the economy that’s impacted by energy, which is virtually everything. (Author’s Note: Factor in GE who was a major backer of the Obama campaign and who is now part of the economic recovery team and a corporate member of the CFR.)
And all this comes on top of the U.S. government’s takeover of auto companies, banks, AIG, Fannie, and Freddie. Instead of Schumpeterian gales of creative destruction, we’re on the road to economic demoralization.
Here’s the clincher: Year-to-date, Dow Jones stocks are off 8 percent, while China stocks are up 71 percent. The world index is up 4 percent. Emerging markets are up 25 percent. They’re all beating us. None of this is good.
We’re going the wrong way. That’s why stock markets are not voting for the United States anymore.
It appears the Pilgrims and their front groups for the NWO are trying desperately to level the playing field.
They have been systematically trying to abolish the one major component that can and will derail their plans.
Patriotic Americans and their 2nd Amendment rights.
The Battle Plan:
DEMAND that the unspent funds from the Porkulus (Stimulus) Bill be repealed.
DEMAND that The Federal Reserve be audited and then abolished.
Melt the phone, fax and email lines at the House and Senate over Cap and Trade, Sonja Sotomayor’s appointment to the Supreme Court, the Socialized Medicine Rationing Bill, and whatever else this crack smokin’ Democrat controlled congress has up it’s sleeve. (3rd Stimulus Anyone?)
Fight every single attempt to disarm the American people.
Assemble in Washington, D.C. on 9.12.09 to put Congress on notice that their days are numbered.
Run for Political Office.
Flip the Congress in 2010 thereby depriving Obama/ACORN/SEIU and the shadow chess players in the background of all their rubber stamp power.
DEMAND that every single piece of paper that pertains to Barack Hussein Obama from his real long form birth certificate to all of his college records, university records, medical records, law review papers, court documents of his time as ACORN’S lawyer, Selective Service documentation, and Illinois Senate records are (unsealed) revealed to the public in their entirety to show exactly what Barack Hussein Obama is hiding; be it a British citizenship, an Indonesian citizenship, or whatever trouble he may have gotten caught up in while at campuses of higher education.
REMEMBER that both Dems and Repubs are showhorses for the Pilgrims. There is no difference between them.
I guess the message is not getting through or these people are just incredibly stupid because they would vote for Barack Obama again. The small business owner is complaining about too much bureaucracy yet we now have 34 czars and Bambi is trying to create 600,000 more government jobs.
I am still wondering what it is going to take to wake these people up.
I have seen talking heads, and read bloggers covering the fact that Michelle Obama is carrying a $6k purse during a depression. These talking heads and bloggers have missed the true point of this story; more Chicago arm-twisting thuggery, and now, backpedaling.
Italian luxury goods manufacturer VBH boasted yesterday that First Lady Michelle Obama had toted their $5,950 alligator manila clutch earlier this week while on a trip to Russia.
No way, said the White House, which countered that the First Lady was carrying an $875 VBH patent leather clutch.
After sticking to their initial claim, the high-end leather manufacturer is now backing off. “If that’s what the White House is saying, then it’s a patent bag,” admitted VBH rep Kelly Vitko.
Despite being certain about the bag being the nearly $6,000 version – “it’s definitely ours [manila bag],” she said earlier this morning — the rep now says that she made an assumption and misidentified the bag.
The bag is more than likely the $6k version
The rep was certain and stuck to her story and then “misidentified” a product she represents?
How does one misidentify a $6k bag?
Are you believing this line of crap?
Still think the Obamas are not elitists?
It appears that calls were made VBH, and now Michelle Obama gets to have her cake and eat it too.
Have the Emperor and Empress added any new czars today?
Can We Impeach/Arrest Obama yet?
(Now excuse me while I go cross-eyed figuring out the State Dept. appropriations bill.)
I know you folks are very savvy, paying attention, and doing math with a real pencil instead of a red crayon, so what comes next is NO SURPRISE to you. Are we all ready for the next part of the rollercoaster ride when the commercial real estate bubble implodes? If you still have money in the stock market, why is that? (Once again, bold emphasis is mine, and may I repeat how screwed we are?)
WASHINGTON — Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday.
“The commercial real estate time bomb is ticking,” said Rep. Carolyn Mallory, D-N.Y., who heads the congressional Joint Economic Committee.
Delinquency rates on commercial loans have doubled in the past year to 7 percent as more companies downsize and retailers close their doors, according to the Federal Reserve. Small and regional banks face the greatest risk of severe losses from commercial real estate loans.
The commercial real estate market’s fortunes are tied closely to the economy, especially unemployment, which hit 9.5 percent in June. As people lose their jobs, or have their hours reduced, they cut back on spending, which hurts retailers, and take fewer trips, which hits hotels.
Funding for commercial loans virtually shut down last year as the financial system unraveled. Industry executives say financing is still extremely difficult to obtain, even for financially healthy properties.
While that may seem like an abstract problem, it has real-world consequences. New construction projects have come to a virtual standstill. That means reduced tax revenue for local governments and fewer construction jobs, said Jeffrey DeBoer, chief executive of the Real Estate Roundtable, an industry group.
The commercial property industry is “not going to turn around until consumers and businesses start spending money again,” he said.
Total losses in securities backed by commercial property loans could be as high as $90 billion in the coming years, according to Deutsche Bank analyst Richard Parkus. He says even more losses — up to $140 billion — are expected from construction loans made by regional and local banks, rather than those sold as securities held by investors.
“We believe the bottom is several years away,” Parkus told lawmakers.
Are you ready folks? Still have money in the stock market?
