Thinking the Unthinkable the Crash Explained

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
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RR1 Distopia 666 Discordia
Thinking the Unthinkable: A Debt Write Down, and Jubilee Year Clean Slate

By Michael Hudson

Global Research, September 24, 2008



We have reached the point where it may finally be able to break through the membrane of cognitive dissonance that has been blinded people. The very first course in economics –starting in high school, followed up in college and then refined in graduate school – should explain to students why it is false to believe the advertisement that Wall Street has been trying to sell for the past half century: The deceptive promise that an economy can get rich off the mathematical “magic of compound interest.”
 

GreenFish66

House Member
Apr 16, 2008
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Bush Bust the U.s.a.....
McCain is Goin broke....
Repulicans are going bankrupt .They just can't keep up to the constant surge of Democratic Forces .Years of re-building have made the Democrates strong ,,,,,Use the force Obama !.....Use the Force!.....McCain is not your father!.....
Shame ..Shame...Mr.McCain....You Should Never miss a meeting on speculation...Even if you really know whats going on!.,,,,,((????????)),,,,,Does that make any Sense???!lol
 

GreenFish66

House Member
Apr 16, 2008
2,717
10
38
www.myspace.com
Use the force Obama

Bush Bust the U.s.a.....

McCain is Goin broke....

Repulicans are going bankrupt .They just can't keep up to the constant surge of Democratic Forces .Years of re-building have made the Democrates strong ,,,,,Use the force Obama !.....Use the Force!.....McCain is not your father!.....
Shame ..Shame...Mr.McCain....

You Should Never miss a meeting on speculation...Even if you really know whats going on!.,,,,,((????????)),,,,,Does that make any Sense???!lol
 

Outta here

Senate Member
Jul 8, 2005
6,778
157
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Edmonton AB
Under staged crisis conditions, Pres. Bush and Treasury Secretary Paulson are now calling for the country to come together in a War on Defaulting Homeowners.

seriously? Did they actually say that?!?!

a War on Defaulting Homeowners.... with estimates of possibly 6 million foreclosures isn't that damn near declaring a (financial) war on their own citizens? Uhhhh how about a war on the greedy bastards that engineered this gong show???? I can't even begin to wrap my head around the depth of corruption involved here.
 

Outta here

Senate Member
Jul 8, 2005
6,778
157
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Edmonton AB
8O
"One bank to rule them all; One bank to bind them..."

These are dark times. While you were sleeping, the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation's financial markets and the country's economic future.

Industry representative Henry Paulson has submitted legislation to Congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4' by 6' teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster's Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.

"All Hail Caesar!" The days of the republic are over.

Section 8 of the proposed legislation says it all:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."


source: Mushroom Cloud over Wall Street

.8O
 

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
63
RR1 Distopia 666 Discordia
Bush Bust the U.s.a.....

McCain is Goin broke....

Repulicans are going bankrupt .They just can't keep up to the constant surge of Democratic Forces .Years of re-building have made the Democrates strong ,,,,,Use the force Obama !.....Use the Force!.....McCain is not your father!.....
Shame ..Shame...Mr.McCain....

You Should Never miss a meeting on speculation...Even if you really know whats going on!.,,,,,((????????)),,,,,Does that make any Sense???!lol

It'll be something just like that Greenfish.I bet.
 

Kreskin

Doctor of Thinkology
Feb 23, 2006
21,155
149
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Could be 1929 all over again and everyone takes wheelbarrows full of money to buy bread. Or we have a recession, like we often do. Or the Feds nationalize everything like Chavez. Or we just head to bar and have a few drinks.
 

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
63
RR1 Distopia 666 Discordia
The doomsday clock hysteria.

You don't seem a fan of catostrophic history Kreskin, sometimes there are tangable reasons for hysteria, this is definatly one of them. Whatever transpires either way the bailout hearings go it spells depression and perhaps worse. The only hope,for Americans in particular, is that they very quickly mobilize and crush this legislation before they are sentenced to mutigenerational ruin by it's passage. Even if it requires hemp nooses and burning police baracades, there is no other way.
We in Canada have lived insulated lives, others have already lived this economic turmoil before many times in the last century. We are not exceptional Americans are not exceptional. Besides the math is solid. The air is escaping this bubble.
 

Kreskin

Doctor of Thinkology
Feb 23, 2006
21,155
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aw hell, why wait? I'm gonna go do some preemptive drinkin'.... while I can still afford to.
Good idea. Pre-emptive drinking, gotta love that lol.

Something weird is going on. Bush on TV with a new deadline; this time for financial armageddon. Just doing that makes it a potential self-fullfilling prophesy. Last week he didn't know anything about. McCain now threatens to cancel politics until Congress signs over the largest power grab in US history. I'm more afraid of the Republicans than the potential fallout of doing nothing.