Occupy Wall Street: Not on major media but worth watching!

[bentom187]

the union bots ,and the bernankie zombies ,are out and about,im just waiting for barry now to sell his jobs speech on wallstreet. the whole protest got jacked.


http://www.youtube.com/watch?v=-H47tHjR5oA

yeah printing to oblivion will fix it and wealth will shower down from the skyscrapers free wealth for all.

 

[InJoy]

What if this is all a front so the gov can gather problematic unemployed homeless people from across the nation and give them a new home?

 

[DiscoBiscuit]

Then we'll have to build that fence to keep us from escaping into Mexico.

Then we could put those FEMA trailers to use gas us with formaldehyde.

Those big plastic containers in Georgia can hold 6 to 8 adults. Forget the schtick, they're not coffin vaults. They're actually wholesale body crates.

But it's a secret.

 

[SpasticGramps]

Get ready to bailout banksters and their cronies again people. Bailout Bonanza is about to full retard. I personally don't think Europe can do anything about this situation. They can't agree on the last tiny bailout much less now bailing out the entire European banking system.....again. I believe we are approaching the end of the road for can kicking. The point where fantasy economics meets political realities.

Full video in the link.
BBC Does It Again: "In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks" - IMF Advisor

A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone's mind: "If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."

But no, Morgan Stanley does, or so they swear an unlimited number of times each day. And they say not to worry about anything because, you see, it is not like they have any upside in telling anyone the truth. Which is why for everyone hung up on the latest rumor of a plan about a plan about a plan spread by a newspaper whose very viability is tied in with that of the banks that pay for its advertising revenue, we have one thing to ask: "show us the actual plan please." Because it is easy to say "recapitalize" this, and "bad bank" that. In practice, it is next to impossible. So yes, ladies and gentlemen, enjoy this brief relief rally driven by the fact that China is offline for the week and that the persistent source of overnight selling on Chinese "hard/crash landing" concerns has been gone simply due to an extended national holiday. Well, that holiday is coming to an end.

 

[DiscoBiscuit]

It only took 12 years for Wall Street to destroy the economic world.

 

[dagnabit]

It only took 12 years for Wall Street to destroy the economic world.

12 years...


LMAO!

 

[SpasticGramps]

Personally, I think this is the culmination of 100 years of destruction (1913) since the inception of the Fed. This is the end of a deeply rooted systemic failure IMO.

More recently I would say 40 years since we went full fiat marked the beginning of the end. The last 12 or so has been kicking the can down the road, ignoring structural problems, and pretending everything was ok IMO. This outcome was predetermined when we went full fiat. ALL fiat currencies eventually fail because they are based on nothing more than trust in the politicians to not print too much. It never works. People are too corruptible. Once faith is lost the currency collapses. It happens every time and no amount of American Exceptionalism can stop it unfortunately.

Wall Street and the Fed owning Washington is what did us in. All complicit. All must be held to account in the final hours.

 

[In~Plain~Site]

Exactly Gramps, all one need do is look to 1971 for the beginning of the end.

Litter the thread with whatever hyperbole you like after that

 

[DiscoBiscuit]

If the global economy was gold standard, I wouldn't have a problem. I don't personally believe that fractional reserve is an inherent failure. Any system has the potential to fail. Ours has to do with revenue structure according to expenditure.

I'm familiar with the basics of economics. No system works wire-to-wire without management, which means we have to cut back on entitlements. But we need to kick start the economy and we need something on the scale of the New Deal.

If you look at the numbers, 1985-1988 (Reagan's biggest tax increase, which wasn't as much as his 81 cut) plus 1993-1999 (Clinton's tax increase, which wasn't as high as Reagan's 85 to 88 rates) created 40 million jobs. We began to sustain budget surpluses. W created 9 million but the bust lost 15. Fast money is risky money.

In the late 90s, we were on track for sustained surplusses and we even projected future opportunity to pay off the debt. Beyond that, forecasts actually have to occur. But revenues weren't only steady, they were gaining.

Had we known that somebody would give back surplusses to the top, the now paultry surplus might have been applied to the debt (because there was no fiscal deficit.) We thought the next guys would play ball but instead they popped it. Their revenue to expenditure formula was red from the first tax cut.

IMO, it's not the system that doesn't work. Some of the very folks that get to play don't want it to work. IMO, it's not a fractional reserve thing, it's just ideological divide.

There's two major aspects that allowed Wall Street to blow up the shop. No firewall between Wall Street / main street and the new leverage of 30:1 instead of the old 10:1. Not as much evil deed as pie-in-the-sky. Still, some parts of the economy need a brake.

Some of the protesters may want a gold standard. IMO, that's the last thing that will change in a global, fractional reserve system. Doesn't mean we can't correct the wrongs we corrected in 1932 that helped solidify commerce for almost 7 decades.

It's insult to injury when we know what doesn't work, fix it and then break it again.

 

[DiscoBiscuit]

Heavy on the insight, Dag and IPS.

 

[In~Plain~Site]

Something tells me it wouldn't matter

Heavy on the insight, Dag and IPS.

 

[DiscoBiscuit]

Might not change my opinion but I'd offer far more room when you state yours as opposed to knocking whatever.

It's tough when it's not enough to balk at the system, we actually need solutions.

Hank didn't have the greatest timing. What we need now more than ever is working toward a common goal that serves the best interests of as many as possible. We'll never improve as country with a divided mindset. I hear he apologized, didn't phase me a bit. Just knowing we have folks who think like that is depressing.

 

[SpasticGramps]

Anyone reckon the Bank of England governor is being hyperbolic?

World facing worst financial crisis in history, Bank of England Governor says
The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.

Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.

“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

Announcing its decision, the Bank said that the eurozone debt crisis was creating “severe strains in bank funding markets and financial markets”.

I know most people on here believed or still unfortunately believe in the establishment's muddle through low growth "recovery" lie for the last few years and have no doubt thought I'm totally crazy for saying that 2008 was just the beginning of meltdown.

Doesn't seem to be the case now. Tin foil hats may be a good thing.

When this all goes down I expect "Occupy Everything" to really take off.

 

[DiscoBiscuit]

I think you're closer to suspicion of a lie. I might not be the broadest financial news viewer but the people I see warning of collapse are substantial market manipulator advocates. I can't remember the fella who blew a gasket over Obama on CNBC. That guy would cheer on the folks who park oil tankers in the Gulf. IMO, even the folks who are playing aspects of commerce to death are pointing the finger at somebody else.

I'm not sure a gold standard would be any different w/o control on corporate power and influence. We'd all have less and they'd have disproportional amount.

Do the Koch's weigh in on fractional reserve? I wonder how +$40 billion would end up with capital based on a limited amount of gold. No biggie, just curious.

 

[SpasticGramps]

I've been following it for a while and we'll have to agree to disagree. Has nothing to do with market manipulators. If anything the market has been manipulated upwards. The media has rose colored glasses and has a stake in keeping the status quo going. This second leg down is the logical economic conclusion to the catastrophic policies we've been implementing over the past few years to try and keep everyone believing all was well.

Regardless, I know we are going to keep printing money to keep the facade up which bodes well for my portfolio.

 

[Green lung]

http://www.youtube.com/watch?v=XJNIu6nYt-A

NYPD "My nightstick is going to get a workout tonight hopefully" laughing



.

 

[SpasticGramps]

I'm not sure a gold standard would be any different w/o control on corporate power and influence. We'd all have less and they'd have disproportional amount.

The gold standard lends itself to many of the same problems today. Concentrated wealth and power and so forth. It's by no means perfect. They all suck really. It can't be inflated away though. In that sense it's more stable. I believe the markets will eventually choose a new reserve currency and may be doing so now. That's why I'm long traditional hard currencies.

The other option is government issued fiat which has always has led to hyperinflation too.

Nobody has really figured it out yet is what I'm getting at.

Currency is cyclical like everything else in the markets.

 

[DiscoBiscuit]

I've been following it for a while and we'll have to agree to disagree. Has nothing to do with market manipulators. If anything the market has been manipulated upwards. The media has rose colored glasses and has a stake in keeping the status quo going. This second leg down is the logical economic conclusion to the catastrophic policies we've been implementing over the past few years to try and keep everyone believing all was well.

Regardless, I know we are going to keep printing money to keep the facade up which bodes well for my portfolio.

Market manipulators aren't the crux of our crisis yet qualify for death-by-a-thousand-cuts status. My comparison is that some of the same market-media folks who blame a president (for Fed policy) advocate their own economically dangerous tactics and strategies.

The market is a roller coaster right now. Whether your net is up or down could be reduced to a daily basis. If you're into risk then you expect it, plan for it and hopefully beat expectations. Non high-risk investments are taking the hit with poor high-risk tactics. 2008 saw a 40% decrease in the average diversified portfolio. The last few months have seen additional losses.

It's my hope that you continue to do well, even if you assume high risk. IMO, the top is making your and my investment job harder. We lose chunks of what we've already earned (to the top) because of their bad decisions, not ours. I've got investments that would return much better if they weren't subject to the same conditions that overt greed manifests.

When's the last time financial news reported an executive turning down a bonus because shareholder expectations weren't met? Boards have relieved their favorites of the pesky opportunities to face ethics. Those bonuses are guaranteed in ways that hide compensation from the public, even the shareholders who support their incomes.

Ever had spider mites? The greedy element of the top and their enablers are like a predator mite. They eat all the mites, then they start eating each other. At the end, there's one fat mite who starves to death.

 

[DiscoBiscuit]

The gold standard lends itself to many of the same problems today. Concentrated wealth and power and so forth. It's by no means perfect. They all suck really. It can't be inflated away though. In that sense it's more stable. I believe the markets will eventually choose a new reserve currency and may be doing so now. That's why I'm long traditional hard currencies.

The other option is government issued fiat which has always has led to hyperinflation too.

Nobody has really figured it out yet is what I'm getting at.

Currency is cyclical like everything else in the markets.

All good points. I'm not as much a supporter of fractional reserve as I'm not convinced a gold standard is the answer. The inflation aspect is pretty self explanatory. The cost of inflation affords the opportunity to create more wealth and net more, regardless of variable inflation rate. We pay less, we make less. We pay more, we make more.

I realize that QE works against what was once a more stable formula. But they're not doing it to roast more marshmallows, they're doing it to mitigate financial Armageddon. (There's my assumption.) It's not unlike bleeding at the wrist. A tourniquet might be painful, even risky. Especially when greed is bleeding us at the elbow. We could bleed from both points faster. Or we could just try to keep from dying.

We've got a new consumer protection agency and we're trying to field a leader. Like usual, the top and their enablers are trying to keep fair out of the equation. Apply that to everything that Washington is attempting to reinstall after Clinton's significant market deregulation.

Even Obama had a chance to reinstall the divide between investment and non-investment banking. According to Suskind, Obama directed Summers to 'take care of this' and Summers basically didn't. A few months later, public perception changed and the consumer protection agency couldn't even get off the ground.

 

[avatopaz]

12 Years?..Disco...... you sucked me in....

Imnsho.. This is The End and direct result of Trickle Down Reaganomics ('81), Deregulation, Just Say No!, Corporate Puppet Masters and Too much Busshs

The Realestate bust, Financial meltdown and Wallstreet is just the result of American style Greed and 30 years of the above

M. Moore Using "the human microphone" Because a pa system is illegal in the "private" park. 10/5
http://www.youtube.com/watch?v=MtYnoOpLYAE

Live (mostly) feed from #occupywallstreet
http://www.livestream.com/globalrevolution

Profound Peace
J