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silatix

economy in crisis..

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Happy Monday, tra la la. Oh what's this? The NYTimes did a version of that employment graph I posted a few weeks ago, but with percentages so that it's meaningful.

 

20090309-rsduhhdkmatu16reqae96x2epj.preview.jpg

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I'm not a constitutional lawyer, therefore I cannot argue for or against the constitutionality of a central bank such as the fed. What I can point out is that this issue has gone before the supreme court many times, it's never a close decision.

 

As far as the actions of congress is concern, CNBC carried the vote live and it was shown on the trading floor. This illustrates how important a "yes" vote was to the investment community. The markets reaction was panic and massive self off.

 

Reliance on credit is a perfectly normal state of a free market, it has been so for centuries. The Louisiana Purchase and the Erie Canal where both financed by Barings Bank, so the concept of debt as healthy form of capital is quiet old. Credit in and of itself is not the problem, it's only a tool and as such it is at the mercy of its user. This crisis is as much a result of poor management as it is a failure of markets to regulate themselves.

 

 

 

http://www.kc.frb.org/speechbio/hoenigPDF/Omaha.03.06.09.pdf

 

http://www.scribd.com/doc/13057976/Hayman-Capital

 

http://pennyherscher.blogspot.com/2009/03/...has-peaked.html

 

http://www.aar.org/NewsAndEvents/PressRele...09_Traffic.aspx

 

http://www.guardian.co.uk/business/2009/ma...titative-easing

 

http://bloomberg.com/news/marketsmag/mm_0409_trim2.html

 

http://www.colbertnation.com/the-colbert-r...d-stephen-moore

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Wow. Thanks for sharing that robot0, I hadn't seen it in it's full form.

I would say that this has all been a comedy of errors, except it's so not funny, and most comedies don't bankrupt our futures.

 

Makes you wonder what could be next...

Edited by SaintEfan

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wow. thanks robot0. I had often wondered exactly how interlinked AIG was with the financial world in general. I assumed it was absolutely huge because of the cash the government is willing to throw at it to keep it going. Reading this document from top to bottom leads me to believe that the government simply cant and wont let it fail, no matter what the cost (and the cost is just going to get sillier and sillier). Its seems like AIG going under would be the equivalent of pulling our ten stubby little fingers from the leaks in the dam.

 

It sorta makes me freak out a little, then I think that its all just so massively huge that I can't really worry about it.

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What makes me livid is that they're use it to blackmail congress. Apparently, there's a lawsuit threat if they don't pay the bonuses, which are contractual agreements, this could result in the outright failure of the company. Not only are we bailing these rotten bastards out, but they're saying that we owe them a bonus for their management failures. It's time to put some pressure since our tax money was used the buy the company.

 

bb-aig_2.jpg

 

 

http://www.oag.state.ny.us/media_center/20...r%203.17.09.pdf

Edited by robot0

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He's got the names, read the pdf at the bottom of my last post. That's the Cuomo report to the finance committee.

 

* The top recipient received more than $6.4 million;

* The top seven bonus recipients received more than $4 million each;

* The top ten bonus recipients received a combined $42 million;

* 22 individuals received bonuses of $2 million or more, and combined they received more than $72 million;

* 73 individuals received bonuses of $1 million or more;

* Eleven of the individuals who received "retention" bonuses of $1 million or more are no longer working at AIG, including one who received $4.6 million.

Edited by robot0

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What makes me livid is that they're use it to blackmail congress. Apparently, there's a lawsuit threat if they don't pay the bonuses, which are contractual agreements, this could result in the outright failure of the company. Not only are we bailing these rotten bastards out, but they're saying that we owe them a bonus for their management failures. It's time to put some pressure since our tax money was used the buy the company.

 

bb-aig_2.jpg

 

 

http://www.oag.state.ny.us/media_center/20...r%203.17.09.pdf

 

A threat of the use of the USA Second Amendment should "pressure" them.

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Guest Sao_Bento

Ahhh, the "Fair and Balanced" douchbag who says that Obama is building prison camps to put republicans in. He was previously known for crying on TV while he was in the hospital.

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Ahhh, the "Fair and Balanced" douchbag who says that Obama is building prison camps to put republicans in. He was previously known for crying on TV while he was in the hospital.

 

I want to punch that motherfucker in the cunt.

 

 

-m

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8. It is not un-American for me to disagree with authority or to share my personal opinion. (from Glenn Beck's 9 principles)

Nice of you to admit it 6 years later, I'm sure the Dixie Chicks feel a lot better now. Or what was it now? Pro-war v un-American, or the spin doctors fave un-Patriotic. But I'm being dragged off topic by a Tammy Faye impersonator.

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In these current economic times it makes sense to put the illegal immigrant Mexicans into FEMA camps instead of the regular prisons. We need to save money where necessary.

 

campfema.jpg

Edited by ZeBrownie

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Guest Sao_Bento
In these current economic times it makes sense to put the illegal immigrant Mexicans into FEMA camps instead of the regular prisons. We need to save money where necessary.

Gee, I be no one saw that coming <_<

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Remarkably, this is the first time I've noticed your dumbass sig, Clint.

 

I oppose dope smokin', baby killin', gun stealin', socialist messiahs - even if they're black. What kind of Hope™ and Change™ can you expect from a Kenyan Marxist who is an affirmative action hire?

 

Was it hiding there in plain sight, even when you took issue with my calling you a racist? Oh, the irony.

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