Mm, I get high with a little help from my friends
Mm, gonna try with a little help from my friends"
Now here is a guy you can listen to. Ron Paul, republican Congressman for Texas. Also Libertarian.
His arguments are so clear and logical that it is frightening nobody else in the mainstream media is listening to him.
Why is nobody listening? I can see no other reason than that he is not speaking the language of the mighty and powerful.The politicians and bankers in charge.
Ron Paul wants to change the system.
With all respect: the mighty and powerful are so inter bread and are feeding off each other that it must be totally impossible to make decisions with the interest of the American people in mind.
Please have a look at my post of March 4th. You can read that the financial sector in the USA invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists winning deregulation and other policy decisions that led directly to the current financial collapse.
So US$ 5 Billion is the total amount that bankers spend to buy, sorry, support politicians.
I wonder how long people will take this crap?
The politicians already spend 11 Trillion US$ (11.000 Billion) to clean up the mess of their bankers-friends.
"Just send the invoice to the taxpayer and their children. And grand children".
And the mainstream media is in general OK with it. "As long as the mighty and powerful will make sure that we can go back to the time of reckless borrowing and overspending. Times we soooo good then."
Is this not amazing that there is so much lethargy around? Where is the anger and outrage?
There are some rumblings but in general the powerful can be pretty relaxed.
OK, they are going to throw some tea bags to politicians, but who cares? This is what Jesse has to say about the in bread situation:
"The ratings agencies and the regulators and the Fed and the media and the Presidency failed in their duties and responsibilities. They failed because they were corrupted. They were enthralled in a deep capture within a climate of fraud and market manipulation. They succumbed to temptation and became participants. And now they are afraid and ashamed of what they have done.Reform is what will be crucial.
But they were the pawns, the tools. The primary actors are still in place and are still doing their worst for America. Jamie Dimon is on the financial news networks today speaking to the US Chamber of Commerce, weaving a revisionist view of what happened, blaming everyone but the banks in an amazing display of calculated spin.
Until the Wall Street banks are restrained, until real reform is accomplished, there will be no recovery, and the corruption will continue to taint all who come near it. It is already having its way with the new 'reform' administration."
By : Ron Paul
The distraction on Capitol Hill this week has to do with the jackpot bonuses that executives at AIG recently received. The argument is over a relative drop in the bucket. The total amount of bonuses given out was $165 million. The government has put $170 billion intoAIG so far. Many now are demanding we get this money back. We ought to be spending our time and effort doing something more worthwhile, like figuring out how the Federal Reserve is handling the trillions of dollars they are creating and pumping into the economy, and how that is affecting the purchasing power of dollars in your pocket.
The big mistake was appropriating the TARP funds in the first place. A Johnny-come-lately bill of attainder won't stop the spending epidemic. This whole situation is a perfect demonstration of why "doing nothing" and letting failing companies fail would have been much better than sinking valuable money and resources into them.
When a company makes a profit, it is a signal that it is taking resources and increasing their value while controlling costs. When a company operates at a loss, it is a signal that it is decreasing the value of its resources or letting out-of-control costs outstrip any value it has created. A company operating at a loss is therefore an engine of wealth destruction. Bankruptcies are a net positive for the economy because more productive competitors are rewarded by opportunities to buy up remaining assets at bargain prices to strengthen their operations. In an economy that allows this kind of growth and change, any jobs lost by bankruptcy are soon replaced by new ones as the most efficiently managed businesses gain access to more assets and expand.
Bankruptcy was the stimulus that we needed in the case of AIG. More bankruptcies would clean out malinvested resources and enable economic growth again.
AIG, by losing money and maneuvering their operations to the brink of bankruptcy, was telling us that they were inefficient. So what did we do? We forced the taxpayer to assume the losses, and now we are supposed to be shocked that it is not working out. HadAIG gone bankrupt, it would have been impossible to hand out these bonuses. The taxpayer would have been fleeced for $170 billion less last year. Had they gone bankrupt, the world would not have come to an end, it would just continue on with one less engine of wealth destruction.
We should have learned from Japan. The 1990's is referred to as Japan's "lost decade" because of the zombie banks kept on life support by the Japanese government. Any productivity was redirected through these engines of wealth destruction, resulting in long term stagnation. We should and can avoid this outcome if we come to our senses.
A recession should be a time of strengthening and regrouping for an economy. But as long as the government insists on maintaining the statusquo by propping up failed institutions, we will continue to dig a bigger hole for ourselves.