Category Archives: Economic Collapse
The battle has now been joined by the Great Satan (aka Goldman Sachs) as the brilliant Matt Taibbi piece has fortunatly gone viral thanks to bloggers. When the pigs on Wall Street, their legal armies and on call public relations propagandists turn into pirannhas as they are with this piece the fuckers are on the run. The seige on CNBC’s drooling house baboon Jim ‘Mad Money’ Cramer that was kicked off by comedian Jon Stewart was beaten back with a disinformation laden blitzkrieg and the moneychangers regained control of the temple. It’s all been the hogwash of the GREEN SHOOTS ever since. And despite the dismal news contained in yesterday’s jobs report the long weekend couldn’t come at a more fortuitous time as the gold plated cocksuckers will regroup once again and launch a saturation bombing campaign of more goddammed lies.
Give some credit where it is due to Rolling Stone magazine, after initially witholding Mr. Taibbi’s withering takedown of Goldman Sachs entitled The Great Bubble Machine from internet users it has finally seen fit to put it online. Probably sound business on their part since the absence of it on their site only fueled the fire. Now today, the agents of the ivory tower piggies are in full attack mode, there is certainly no shortage of sewage flying in Taibbi’s direction – the good ole pejorative of choice to those who dare to ask questions “conspiracy theorists” has been nailed into his skull like a crown of thorns (some might find the delicious irony in this since Taibbi was the one who punched his ticked by sliming 9/11 truthers) and he is very likely being measured for one of those wooden crosses that are erected whenever the whores in the establishment media are summoned to perform a public crucifiction on an out of line journalist or other ill mannered whistleblower. Here is just a sample of the early stages of the barrage that is directed at Taibbi for his transgression. The reputedly liberal New York Times (the former employer of Iraq war pitchwoman Judith Miller) has one entitled Goldman and Rolling Stone Writer Trade Barbs, Time has Goldman Sachs vs. Rolling Stone: A Wall Street Smackdown, BNET has one entitled Uncovering the Goldman Sachs Myths, a particularly gut wrenching piece as it is from a looter capitalist apologist organ. I could list more but why fucking bother, the common talking point is that it is all conspiracy and that Taibbi is of course, not even a real journalist to begin with. Typical rancid establishment swill from all the garbage churned out of America’s so-called journalism schools who chose corporate shillhood as a career over honest reporting.
I have to admire Taibbi’s balls, he has come out in defense of his brilliant, Pulitzer Prize worthy piece with some nice rebuttals to the Great Satan and all of it’s well paid catamites. Here are two of them:
You acknowledge that we may monitor your use of the Services for our own purposes (and not for your benefit). We may use the resulting information for internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory body and in compliance with applicable law and regulation.
via Is Goldman Legally Frontrunning Its Clients? zero hedge.
After watching its thoroughly maladroit handling of several p.r. problems this week, I’m absolutely convinced that Goldman Sachs can be hurt if enough people keep piling on with the pressure. The latest evidence of this is its abject collapse in the face of questions from Zero Hedge about the possibility that it is using the data its takes from users of its website to front-run those same people.
Front-running takes place when a bank or broker-dealer– say, Goldman, Sachs — executes a trade for its own account before filling its customer’s order. Since a large enough trade (executed by institutional investors, for instance) can actually move the price of the security in question, front-running can be a very profitable activity. It’s sort of like fast-food insider trading. It is common knowledge that front-running on Wall Street is rampant, and I interviewed more than one person for my recent Rolling Stone story who accused Goldman of front-running its big clients in all sorts of arenas, from the internet IPO years to the commodities markets.
What caught Zero Hedge’s attention was a curious disclaimer uncovered on Goldman’s website, which includes a trading platform that visitors can use to execute trades. At one point the disclaimer read:
Monitoring by GS: Your use of the products and services on this Web site may be monitored by GS, and that the resultant information may be used by GS for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization.
Subsequently readers uncovered an even more sinister disclaimer that appears on other Goldman documents (see the quote at the top of this post with the key line “and not for your benefit”). So Tyler Durden over at Zero Hedge wrote to Goldman to ask if this meant what it quite obviously seems to mean, and got this response from the bank’s Senior Vice Scoundrel, Ed Canaday. Note the way he seems to be addressing Dick Durbin, which looks like a case of wish-fulfillment to me:
Dear Mr Durbin:
This is in response to your recent blog about our web site disclaimer. It is quite usual for websites to have disclaimers that refer to the monitoring of site usage. Most web sites, including yours we noticed, track usage by their visitors. This is primarily used for marketing and to help inform decision about enhancing content.
Your suggestion that we monitor our web site to facilitate front-running is untrue and offensive.
Goldman, Sachs & Co.
In exactly the same manner that Goldman demonstrated with regard to my story, Canaday avoided any of the factual concerns that Zero Hedge presented about the curious disclaimer; in fact his letter, if anything, is such a classic non-denial denial that it really just confirms everyone’s worst suspicions. Most notably, he doesn’t specify what “internal business purposes” the company is talking about, and while he insists it is not front-running, it’s a very thin, curiously worded denial.
That a company as rich and powerful as Goldman would stoop to peering through the web version of a locker-room peephole to make a few extra pennies either front-running random trades or somehow using visitor data “not for their benefit” shows how completely and utterly morally absent this company is. There is not an ill-gotten dollar they will not chase, no matter how small or insignificant the sums might be.
Word should be spread about this and anyone who used the Goldman 360 portral for trading should seriously investigate this situation, as it is entirely possible you’ve been ripped off — legally, perhaps, although how much “legality” a disclaimer like that can confer is a serious question in my mind.
More to the point, the fact that Goldman is getting enough public pressure that it feels it has to respond to these queries shows that the company is reeling. And the fact that their public statements have been so hilariously transparent and clumsy shows that they’re rattled and don’t know how to handle this kind of heat, which they’re not used to getting. Kudos to Zero Hedge for applying the pressure; readers who want to see Tyler’s very funny response to Canaday should read here.
And in another piece…Taibbi punches back hard yet again!
After my recent piece about Goldman, Sachs hit the newsstands last week, I started to get a lot of mail. Most of it was thoughtful and respectful criticism, although there was an amusingly large number of people writing in impassioned defense of their right, under our American system, to be ripped off by large impersonal financial companies. “If my pension fund is buying [crap mortgages] from Goldman, and my pension fund loses lots of value, that’s not Goldman’s fault,” wrote one reader. “No one is forcing anyone to buy anything. The only thing Goldman is guilty of is making profits.”
I’m not even going to go there – the psychology of a human being who would take the time to actually write in a complaint like that is so bizarre that it would take more time than I have today to even begin discussing it. One other complaint that I will address quickly, though, is the notion that I didn’t tell Goldman’s side of the story. “Not exactly a balanced approach,” complained one reader. “You should take an ethics class. You have to give the other side a fair shot.”
Actually I did contact Goldman and gave the bank every opportunity to respond to the factual issues in the article. I’m bringing this up because their decision not to comment on any of those questions was actually pretty interesting.
We figured ahead of time that Goldman was probably not going to respond to many of the allegations in the article, since its MO in the past with regard to hostile journalists has usually either been to make bald denials or to simply avoid comment (that’s when they’re not using the carpet-bomb litigation technique, as in the case of GoldmanSachs666.com). So what I decided to do the first time I approached them was to send a short list of simple factual questions. If the bank decided to engage us and educate us as to its point of view on these simple questions, we would send more queries and expand the dialogue.
Given this, I tried to make that first list of questions as basic as possible. I asked if Goldman would have turned a profit in Q1 2009 if it hadn’t orphaned the month of December 2008. Then I asked if Goldman had made changes to its underwriting standards during the internet boom years; if Goldman’s position was still that the steep rise in oil prices last year was due to normal changes in supply and demand; and if it could explain its 1991 request to the CFTC to have its subsidiary J. Aron classified as a physical hedger on the commodities market. Citing various sources, I also noted that some people had complained that its move to short the mortgage market in 2006 even as it was selling those same types of instruments proved that the bank knew the weakness of its mortgage products, and asked if the bank had an answer for that. And I asked if the bank supported cap-and-trade legislation, and if it was fair to say (as we planned to in the piece) that the bank would capitalize financially if such legislation was passed.
I intentionally put a lot of yes/no questions on that list. If the underlying thinking behind any of those questions was faulty, it would have been easy enough for them to say so and to educate us as to the truth. Instead, here is the response that we got:
“Your questions are couched in such a way that presupposes the conclusions and suggests the people you spoke with have an agenda or do not fully understand the issues.”
You have to have swallowed half a lifetime of carefully-worded p.r. statements to see the message written between the lines here. That this is a non-denial denial is obvious, but what’s more notable here is that they didn’t stop with just a flat “no comment,” which they easily could have done. No, they had to go a little further than that and – and this is pure Goldman, just outstanding stuff – make it clear that both I and my sources are simply not as smart as they are and don’t understand what we’re talking about. So the rough translation here is, “No comment, but if you were as smart as us, you wouldn’t be asking these questions.”
So now word filters through that Goldman has issued yet another statement in response to the piece, this one by amusingly-named mouthpiece Lucas Van Pragg. Again, the company does not take issue with any of the facts in the piece – not one. Here’s what he says:
Taibbi’s bubble case doesn’t stand up to serious scrutiny either. To give just two examples, even with the worst will in the world, the blame for creating the internet bubble cannot credibly be laid at our door, and we could hardly be described as having been a major player in the mortgage market, unlike so many of our current and former competitors.
Taibbi’s article is a compilation of just about every conspiracy theory ever dreamed up about Goldman Sachs, but what real substance is there to support the theories?
We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance of being a force for good.
Okay, let’s look at that bit piece by piece. Van Pragg takes issue with the bubble argument by citing two “examples” of the case not holding water, the first being:
… the blame for creating the internet bubble cannot credibly be laid at our door…
I kept waiting for the “because…” clause here, but there wasn’t one. He just says so and leaves it at that. Now there is obviously some measure of hyperbole in solely blaming Goldman Sachs for something like the internet bubble, or any of the other recent Wall Street disasters, for that matter. But you’d have to be absolutely crazy (and you wouldn’t need “the worst will in the world,” either) not to accept the notion that Goldman shouldered a significant portion of the blame for the internet mess. They were, after all, the leading underwriter of internet IPOs during the internet boom years. In 1999, at the height of the boom, they underwrote 37 internet companies, most of which had little or no history and were losing money at the time of the launch. By late 1999 Goldman was underwriting one out of every five internet IPOs. They were repeatedly caught and punished for manipulating the prices of their IPOs, either via laddering or spinning. Van Pragg doesn’t deny any of this, and just blithely says that one can’t credibly blame them for the internet bubble. I’m almost insulted by the lameness and half-assedness of that comeback, but that might be part of the point, to be insulting. He moves on:
…and we could hardly be described as having been a major player in the mortgage market, unlike so many of our current and former competitors.
Again, not to beat this into the ground, but in 2006, at the height of the housing boom, Goldman underwrote over $75 billion in mortgages, over $59 billion of which were non-prime. That represented 7% of the entire market, which seems like a pretty “major” slice to me. It is true that they did not jump so completely ass-first into the market as Lehman and Bear did (note Van Pragg’s bemused reference to “former competitors”), but if you read the piece, we noted why that doesn’t take them off the hook at all. Because while their “former competitors” (one of whom is clearly “former” in large part because a former Goldmanite, Hank Paulson, elected to save Goldman’s hide instead of Lehman’s) were dumb enough to hold their mortgage paper and be sunk by it, Goldman shorted their own crap, which means (and I know I’m repeating myself here) they knew that what they were selling was a loser. So while they maybe weren’t the biggest player, they were still a major player, and one can easily make the case that they were the most obnoxious player, given that they dove into this muck with their eyes wide open, unlike so many other idiots on Wall Street.
In the middle of this weirdly substanceless retort, Van Pragg then goes on complain about the lack of substance in the article, makes the predictable charge that the piece was a compendium of invented conspiracy theories, then moves on to “reject” the notion that the company inflates bubbles and profits in busts (about that last part: I recommend checking out Goldman’s profit/bonus numbers in 2002, 2008, and 2009 to date. I’m not sure how they can refute the notion that they have profited during the recent financial calamities). Lastly, he says that the bank is “painfully conscious” of the importance of being a force for good, which I noted with amusement is not quite the same thing as saying that that bank is a force for good, or wants to be.
So to sum up, this all translates as:
“Taibbi’s bubble case doesn’t hold water. To use just two examples, Taibbi’s internet bubble case doesn’t hold water, and we didn’t sell as many mortgages as Lehman Brothers. Taibbi’s article is a compendium of every other story about Goldman that doesn’t hold water. We reject these theories that do not hold water, and are aware of the difference between right and wrong, making us legally sane according to the law.”
I’m aware that some people feel that it’s a journalist’s responsibility to “give both sides of the story” and be “even-handed” and “objective.” A person who believes that will naturally find serious flaws with any article like the one I wrote about Goldman. I personally don’t subscribe to that point of view. My feeling is that companies like Goldman Sachs have a virtual monopoly on mainstream-news public relations; for every one reporter like me, or like far more knowledgeable critics like Tyler Durden, there are a thousand hacks out there willing to pimp Goldman’s viewpoint on things in the front pages and ledes of the major news organizations. And there are probably another thousand poor working stiffs who are nudged into pushing the Goldman party line by their editors and superiors (how many political reporters with no experience reporting on financial issues have swallowed whole the news cliché about Goldman being the “smart guys” on Wall Street? A lot, for sure).
Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it. Given all of this, I personally think it’s absurd to talk about the need for “balance” in every single magazine and news article. I understand that some people feel differently, but that’s my take on things.
Such gross intransigence from a reporter in the age of the moneychangers is stunning, in fact it actually borders on outright blasphemy – shit, it brings to mind real muckrakers like the great Upton Sinclair. Talk about a David vs Goliath story for the modern era, Taibbi has put all the other so-called reporters that pollute our press, make excuses for the corrupt, milk the lurid excesses of the dumbed down cult of celebrity (currently on display with the necorphiliac corpse humping of Michael Jackson) and provide the bread and circuses that are necessary when our shiny newly minted (largely with Goldman Sachs money) reality show president come out and brags about saving the markets while millions are beggared to fucking shame and justifiably so.
Let’s hope that David has it in him to lob the killshot right into the testicles of the Goldman Sachs Goliath that has stomped on the necks of American’s for too long now.
Having brought our reality show TV prez to heel, stolen trillions from the taxpayers through their moles in the government and fat and happy from their record bonuses the evil empire that is Goldman Sachs is now fighting back. Bloomberg announced that Wall Street (aka Goldman Sachs) has enlisted two lackeys of the Frankenstein of financial chicanery Hank Paulson to take their propaganda and shove it down the throats of the American sheeple. The timing is a bit off though and so is their overestimation of the ability of the American Idiots to disengage from their electronic crackpipes, Whacko Jacko kicked the bucket yesterday so a lot of money for this sewage could be saved – but hey, it’s mostly TARP mad money anyway ain’t it. Anyway, while the corporate media vultures are picking the meat from Jacko’s still warm corpse the story that I refer to is Wall Street Sets Campaign on Populist Overreaction. Seems like the anger directed at AIG’s plundering and Jim Cramer and CNBC’s lies has the financial oligarchs a bit restive although that anger has been tamped down by the three months running Green Shoots public relations campaign.
Here is an excerpt from the Bloomberg piece:
June 25 (Bloomberg) — Wall Street’s largest trade group has started a campaign to counter the “populist” backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.
In memos of confidential meetings with top financial executives, the Securities Industry and Financial Markets Association said it began this month the “execution phase” of the operation, which pledges to “embrace change” and accountability. The plan targets policy makers and the media in New York, London, Washington and Brussels and calls for a “city-by-city, grass roots” approach.
The securities industry “must be perceived as part of the solution, which will allow it to better defend against populist overreaction,” the documents, prepared for a June 17 meeting of SIFMA’s board, said.
The board meeting minutes and staff-written papers, obtained by Bloomberg News, outline the program crafted by polling, lobbying and public relations companies paid at least $85,000 a month. The memos provide a glimpse, in often candid language, into how Wall Street is grappling with its pariah status.
“It is imperative that in this historic period of reform, the industry be recognized as playing a positive role in seeking change and providing solutions to the problems we face,” one of the documents said. “There is currently widespread skepticism about the industry’s commitment to this needed change.”
In other words LIES…LIES..LIES to lure the suckers back into the casinos that were propped up by the Pope of Hope rather than the serious structural problems that caused the implosion to occur be corrected. What Goldman Sachs did is best explained by Matt Taibbi in his latest piece from Alternet Suck On Our Yachts.
This isn’t really commerce, but much more like organized crime: it was a gigantic fraud perpetrated on the economy that wouldn’t have been possible without accomplices in the ratings agencies and regulators willing to turn a blind eye. Imagine a meat company that bred ten billion rats, fattened them on trash and sewage, ground their bodies into chuck, and then sold it all as grade-A ground beef to McDonald’s and Burger King, right under the noses of the USDA: this is exactly the same thing, only with debt instead of food. We’re eating it, they’re counting the money.
That is the best explanation of the swindlers’ financial alchemy that I have ever seen and one that even 200 million Michael Jackson mourners could understand. Now as I stated in a post that I did last week about the fascination over Iran’s phony ‘Green Revolution’ (Green shoots, Green Revolution…..yada fucking yada, you would think that for as much money as they are paid that the public relations shops would at least have some originality) that Americans love a good revolution as long as they don’t actually have to arise off of their sofas, put down their remotes and participate. What Goldman Sachs, the Great Satan has done to us all should have millions of pitchfork and torch bearing taxpayers marching on Wall Street demanding mass lynchings. They certainly have time on their hands now that they are fucking unemployed and homeless.
But American capacity for outrage is limited to silly wedge issues, who was it that once said that he could hire half of the working class to kill the other half. Anyway, in wrapping up I want to bring attention to this delightful little piece from the foreign press on what our vastly more sophisticated European cousins are capable of when ripped off by the greedmongers.
A group of well-to-do pensioners who lost their savings in the credit crunch staged an arthritic revenge attack and held their terrified financial adviser to ransom, prosecutors said yesterday.
The alleged kidnapping is the latest example of what is being dubbed “silver crime” — the violent backlash of pensioners who feel cheated by the world.
“As I was letting myself into my front door I was assaulted from behind and hit hard,” the financial adviser James Amburn, a 56-year-old German-American, said. “Then they bound me with masking tape until I looked like a mummy. I thought I was a dead man.”
He was freed by 40 heavily armed policemen from the counter-terrorist unit last Saturday. The frightened consultant was in his underwear, his body lacerated by wounds allegedly inflicted by angry pensioners.
It appears that two couples had entrusted Mr Amburn’s investment company with €2.4 million (£2 million), which he ploughed into Florida’s boom-and-bust property market. The properties became forfeit during the sub-prime mortgage crisis but the couples wanted their money back.
After being bundled into the boot of an Audi in the west German town of Speyer, Mr Amburn was driven southwards to Chieming, close to the Austrian border, where one of the couples Roland K, and his wife, Sieglinde, 79, had a holiday home.
The financial adviser claims he was held there in a cellar for four days almost naked, fed soup twice a day and beaten. Another couple, Gerhard F, 63, and his wife, Iris, 66, both retired doctors, allegedly helped to torture the prisoner.
“I was beaten. They threatened again and again to kill me,” Mr Amburn said. At least two of his ribs were fractured.
Mr Amburn says he tried to escape once when he was permitted to smoke in the garden. He scaled the wall and ran though the rain in his underpants calling for help.
The pensioners pursued him in their car, shouting: “Stop that man! He’s a burglar!” Two locals pinned him to the pavement and he was taken back to the cellar, where he claims he received another beating.
The investment consultant’s break came when he was allowed to send a fax to a Swiss bank asking for the transfer of the funds demanded by the gang.
On the fax he pretended to refer to call options and to insurance policies (the German word for a financial policy is police). This came out as “call.pol-ice.”
They didn’t notice it but someone at the bank was bright enough to spot it,” Mr Amburn said.
The pensioners are under arrest on suspicion of deprivation of liberty, torture and inflicting grievous bodily harm. These charges carry a maximum of 15 years in prison.
“They were angry because they invested money in propertites in Florida and he lost it all,” Volker Ziegler, chief public prosecutor in Traunstein, said.
The numbers of attacks by elderly people had been rising fast even before the financial crisis hit savings. A three-man gang of pensioners is serving long jail terms for mounting 14 bank robberies across Germany to boost their retirement funds.
Rudolf Richter and brothers Wilfried and Lothar Ackermann were entitled only to modest state pensions of between €100 and €400 a month.
They became enraged by the size of bankers’ bonuses and over nine years — ending in their arrest in 2005 — netted more than €1.3 million. Police recovered only half that sum.
“It is unbelievable how easy it is to rob a bank,” Wilfried Ackermann, 73, boasted during the trial. The men held carrots in their pockets pretending that they had pistols.
On one of the raids Richter, 74, slipped on an icy pavement, dropped the loot and had to be carried to the getaway car.
I can’t happen here.
The green shoots, the most wonderful propaganda onslaught since General Petraeus’s heroic, Reaganesque winning of the Iraq war through the ‘SURGE’ has failed. The stinking undead zombie that is the U.S. economy has not been resurrected through the massive infusions of taxpayer dollars, perhaps spent billions on public relations and lobbying and the changing of the mark to market rules only bought times for the financial predators. The wonderful government subsidized markets are tanking again, there are still no jobs, the housing market is not at all improving, the banks aren’t lending and by the way, bombs are going off in Baghdad again. While neocons and Repiglicans have their panties in a bunch over Barack Obama’s not getting behind their little Iranian PSYOP the real outcry should be from every taxpayer in Der Heimat beause they have just been bent over backwards and butt-fucked by Barack’s Wall Street Dream Team into funneling billions into the Ponzi schemes, getting nothing but pink slips and foreclosure notices in return and are about to have any hope of a national health care ripped away by the corrupt, on-the-take non-term limited cesspool dwellers in Congress.
And the myth of Ronald Reagan is just like the one about Santa Claus, only silliness for the credulous little children of lemming land. Horseshit, total horseshit.
So Newsweek Magazine, a month or so after a ‘change’ to move away from celebrity swill in favor of more hard-hitting and provocative ‘journalism’ has after cover stories featuring celebrities Stephen Colbert and Oprah (so much for ‘change’) rolled out an issue with a cover story – GAG – The Capitalist Manifesto. The piece in question is written by that ubiquitous little geek Fareed Zakaria and in any sane and honestly run news operation would be more honestly entitled The Bullshit Manifesto. But then we are talking about Newsweek, a sorry shitrag that is owned by the Washington Post and is the fruition of the CIA’s Operation Mockingbird. The salad days of the WaPo and the crusading investigative journalism in the form of Bob Woodward (a man of questionable integrity) and Carl Bernstein have long been flushed down the memory hole and the herald for the beltway elite and well-connected is a shameful example of just how vile and corrupt that the American media has become. The WaPo last week fired its best columnist Dan Froomkin for his daring to go up against the insipid and overly influential neocon house shill Charles Krauthammer over torture. See Glenn Greenwald’s excellent pieces on the firing of Mr. Froomkin, the hiring of Paul Wolfowitz to augment the neocon Wurlitzer and the sad state of the establishment media in general. Oh, and Newsweek also offers a place for a slimy, bitter, chain smoking, fascist pigfucker Robert Bork to rail against Sonia Sotomayor as he continues to inveigh against all that was once decent or free in this rotting empire of gluttony and greed.
As for Zakaria his long essay in which he defends the scoundrels, money grubbers, chiselers, cheats, schemers, high rollers, paper dealers and four flushing TARP fund welshers and the vile cancerous economic system of capitalism had my bile rising before I was even into the second column. It starts out like this:
A specter is haunting the world—the return of capitalism. Over the past six months, politicians, businessmen and pundits have been convinced that we are in the midst of a crisis of capitalism that will require a massive transformation and years of pain to fix. Nothing will ever be the same again. “Another ideological god has failed,” the dean of financial commentators, Martin Wolf, wrote in the Financial Times. Companies will “fundamentally reset” the way they work, said the CEO of General Electric, Jeffrey Immelt. “Capitalism will be different,” said Treasury Secretary Timothy Geithner.
No economic system ever remains unchanged, of course, and certainly not after a deep financial collapse and a broad global recession. But over the past few months, even though we’ve had an imperfect stimulus package, nationalized no banks and undergone no grand reinvention of capitalism, the sense of panic seems to be easing. Perhaps this is a mirage—or perhaps the measures taken by states around the world, chiefly the U.S. government, have restored normalcy. Every expert has a critique of specific policies, but over time we might see that faced with the decision to underreact or overreact, most governments chose the latter. That choice might produce new problems in due course—a topic for another essay—but it appears to have averted a systemic breakdown.
“but it appears to have averted a systemic breakdown”?? Whaddafuck??? Jesus Fucking Christ, we are at the gates of Hell right now as a result of capitalism. However to highly paid ideologues like Fareed and his fellow travelers like Thomas Friedman who make a good chunk of coin on the circuit serving up globaloney to the suckers and don’t have to worry about the trivial existential horrors of the maxed out, stressed out, thrown out and fucked over and fucked out American on the streets the view is of course much different from atop the ivory towers. Here is some more of this rancid tripe:
Many experts are convinced that the situation cannot improve yet because their own sweeping solutions to the problem have not been implemented. Most of us want to see more punishment inflicted, particularly on America’s bankers. Deep down we all have a Puritan belief that unless they suffer a good dose of pain, they will not truly repent. In fact, there has been much pain, especially in the financial industry, where tens of thousands of jobs, at all levels, have been lost. But fundamentally, markets are not about morality. They are large, complex systems, and if things get stable enough, they move on.
More punishment? How about ANY punishment at all. Shit, those greedy pigs are the only ones that did get bailed out and are now engaged in a feverish orgy of speculation that will have gas at $5.00 a gallon by the time the snowflakes start falling, heating oil will also massively spike and along with the accompanying rise in food prices as commodity markets are cornered one hell of a lot of people are going to have to choose between heating and eating. So Zakaria should spare us that elitist scolding, we never did get to see Bill Maher’s suggestion of two bankers hanging from the big board at the NYSE with their balls in their mouth and other than a few big tokens who are going to be given show trials and slapped on the wrist the pain is all passed on to the shmoes and peasants as it always is in Capitalist Murka. It would be just too much to ask an egghead of Zakaria’s stature why a starving father can be busted stealing a can of fucking Chef Boyardee ravioli to feed his cold and hungry family and disappear into the bowels of the vast for profit prison gulag system while the treasonous looters are not only smacked on the wrist with a wet noodle but given more of the house money to piss away gambling. Here is another piece of the essay if, that is if you can stomach it:
A few years from now, strange as it may sound, we might all find that we are hungry for more capitalism, not less. An economic crisis slows growth, and when countries need growth, they turn to markets. After the Mexican and East Asian currency crises—which were far more painful in those countries than the current downturn has been in America—we saw the pace of market-oriented reform speed up. If, in the years ahead, the American consumer remains reluctant to spend, if federal and state governments groan under their debt loads, if government-owned companies remain expensive burdens, then private-sector activity will become the only path to create jobs. The simple truth is that with all its flaws, capitalism remains the most productive economic engine we have yet invented. Like Churchill‘s line about democracy, it is the worst of all economic systems, except for the others. Its chief vindication today has come halfway across the world, in countries like China and India, which have been able to grow and pull hundreds of millions of people out of poverty by supporting markets and free trade. Last month India held elections during the worst of this crisis. Its powerful left-wing parties campaigned against liberalization and got their worst drubbing at the polls in 40 years.
Whenever a neocon or in Zakaria’s case, a neoliberal scoundrel needs to invoke a bit of legitimacy with the masses of asses it is the bread and butter to bring up good ole Winston Churchill. And the drivel about capitalism lifting hundreds of millions up out of poverty is just that, in layman’s terms it’s total bullshit. Capitalism itself, is as iconic Wall Street god and role model to the Reagan generation of shit Gordon Gekko once eloquently put it “a zero sum game, somebody wins, somebody loses. Money itself isn’t lost or made, it’s simply transferred from one perception to another”. So Zakaria can engage in as much spin as necessary to argue his case, tell it to the millions of uninsured Americans, the jobless whose employment was shipped overseas to third world shithole sweatshops that are never seen. No, no no…when the shills for the financial cartels want an example of the wonders of globalization they show the glimmering steel and glass towers of modernity in Bangalore, just another Potemkin Village that obscures the ugly truth that capitalism is destroying the planet. Showing the slums, ghettos and slave labor staffed factories would interfere with the grand vision of the Lexus and the Olive Tree. I have had just about enough of the column that I can take without vomiting on my keyboard but just want to throw in this last little piece:
More broadly, the fundamental crisis we face is of globalization itself. We have globalized the economies of nations. Trade, travel and tourism are bringing people together. Technology has created worldwide supply chains, companies and customers. But our politics remains resolutely national. This tension is at the heart of the many crashes of this era—a mismatch between interconnected economies that are producing global problems but no matching political process that can effect global solutions. Without better international coordination, there will be more crashes, and eventually there may be a retreat from globalization toward the safety—and slow growth—of protected national economies.
Now the more conspiratorial (or to avoid the pejorative tin foil hatter – aware) types this is starting to sound strangely like a case for that dreaded New World Order aka a global corporate government that is being pimped. You can read the rest of the article yourselves if you have a high tolerance for bullshit. It bears mentioning that Fareed Zakaria is a Council on Foreign Relations mouthpiece and like the rest of his ilk is out there shilling for globalist predatory capitalism in a major publication like Newsweek. We are basically fucked right now because the establishment has rigged the game, Mr. Zakaria, like Obama is there to do the soft closing for those who are actually able to fucking read. For the rest, the prison camps await along with the reeducation to be a good little capitalist slave – think of O’Brien and his pet rats in Room 101, you get the picture.
The CFR along with all of these other big time elite groups (Bilderberg,Trilateral Commission, Davos, G8 etc) are nothing other than proponents for a global corporate state where we are all reduced to chattel and indentured servants in their system. Actually railing against these elitists is one of the few things that the knuckledraggers on the far right actually do that is remotely constructive – unfortunately it is then filtered through CIA fronts like the infamous John Birch Society to meld it with anti-immigrant racism, gun grabber paranoia and in the biggest lie of all turning it into a great Communist conspiracy rather than the quite obvious one of fascist corporatism. The future of capitalism is going to be patterned after that great model that is our top creditor China and the authoritarianism, censorship, goon squad paramilitary types who will grind our bones to make their bread. And this ties back into the Iran uprising, whether it is real, partially real, fomented by spooks or over sensationalized by the pocket media is irrelevant. Until Americans are ready to lay it on the line and take to the streets rather than sitting on their asses in front of state controlled television propaganda and don’t replace Twitter with guns then we are fucked. That’s just the way that it is and our revolution won’t be televised.
It is becoming more apparent that the shits won and won easily, hell our great savior for change Backless Barrack never even gave change a chance, just turned the policies over to pigs like Summers and Geithner so that they could save their casinos and their offshore money pools. The new issue of Foreign Affairs (the CFR journal) gives some time to the concept of G2 which is the U.S. and China. China is the perfect next stage of capitalism, once it has sucked the life out of the working and middle classes it needs an authoritarian police state to function at maximum capacity. Thanks to the Bushreich we already have the police state apparatus here (spying, paramilitary police etc) and not smiling Barack the new face for all of it is ensuring that generations will be condemned to corporate bondage, their fate has already been sealed with his acquiescence to Wall Street paper pushers.
I would recommend an alternative to Fareek Zakaria’s elitst propaganda in their polemic for the rich Newspeak. Harper’s Magazine, a fine, truly American intellectually solid publication has a wonderful cover story on the failure of the Pope of Hope, check out Barack Hoover Obama, subtitled The Best and the Brightest Blow it Again by Kevin Baker. It’s better written, more historically accurate and not delivered by the sort of conniving little swine who would piss down your back and try to convince you that it is raining for an establishment that swears 2+2=5.
Fareed Zakaria is nothing other than another manure monger and god knows that there is no fucking shortage of them here in our rotting, fucked over empire.
A quick Google search brings up in the neighborhood of 28,000,000 results for the masterfully concocted propaganda term “Green Shoots”. Just when it appeared that looter capitalism was on the ropes with Jim ‘Mad Money’ Cramer being exposed as a preposterous fraud who shilled for the Wall Street casinos and angry mobs were descending on the homes of AIG bankers the oligarchy went to the mattresses to save their spoils system. Helicopter Ben came out and launched the first fusillade of this malarkey on his 60 Minutes interview of March 15th. This on the heels of the now famous leaked internal memo from Citigroup CEO Vikram ‘the Bandit’ Pandit that spoke of wonders of money falling from the sky and the healthy quarterly results of his banking colossus and the pure hit of optimism opium was picked up and run with by the corporate public relations armies and their pocket media. The crack ho economy received the kiss of the sweet, sweet spike and it’s been to the moon Alice ever since. But it’s all a big lie of Hitlerian proportions.
I don’t know just where I’m going
But I’m goin to try for the kingdom if I can
cause it makes me feel like I’m a man
When I put a spike into my vein
Then I tell you things aren’t quite the same
When I’m rushing on my run
And I feel just like Jesus son
And I guess I just don’t know
And I guess that I just don’t know
-Lou Reed (Heroin)
The Surge, Morning in America…how many times have we seen this. The suckers game is on again, just queue up in line to rub the balls of the golden bull. Even better than being duped into believing that the illegal war and occupation in Iraq could indeed be won led by the almighty warrior General David Petraeus this re-inflation of the bubble and the kick ass confidence game that has been run for the past two months would have Joseph Goebbels himself drooling in awe. The markets came roaring back accompanied by the standard bits of hyperbole that appeared in nearly every story as though pumped out of the same mighty Wurlitzer – picking up steam, robust, green shoots surged and Jesus, people bought it. Largely ignored was the relaxing of mark to market accounting rules that artificially juiced the bankster balance sheets by allowing wads of worthless ass wipe derivatives to be valued at whatever the fuck fantasyland number that the plunderers chose. The banks won big time, they took the money and told the pope of hope to go and fuck himself when it came to any serious regulation, as though they don’t own his ass lock, stock and barrel to begin with given the amount that they had funneled into his presidential media campaign. The bought and paid for whores in Congress conducted such grand public hearings that you would think they were hauling Barry Bonds or some other overpaid meathead baseball player out to berate him for using steroids. But as it always is in the land of the fucked, it was all a grand illusion, a farce, a tragicomedy.
And the oligarchs fought back, Cramer mocked Nouriel Roubini who had predicted the big collapse (although he was not the only one) by making the ludicrous claim that ‘Dr. Doom’ had caused a lot of investors to lose money by not trampling each other to get back into the casino for the latest game of pump and dump. The much ballyhooed stress tests were all based on phony premises, the best case scenarios that silly assed, reality denial stricken Americans so love as they skip down their primrose paths to perdition marveling at the plethora of white picket fenced yards and foreclosed homes though their rose colored glasses. Americans are saps, suckers, fish, rubes, marks, schmucks and all too willing victims to the looters. They exist in a rotting capitalist debt slavery gulag in which they trade their lives and souls for the glory of owning bigger and better things for the shackles of escalating credit card balances from which, thanks to a feckless and wholly owned subsidiary of the Wall Street scum that resides in Washington District of Criminals they will never be allowed to shed. The bankruptcy laws were forever altered well in advance of the coming economic doomsday machine which indicates fraud as well as collusion on the part of all involved. But who can you call when even the beat cops are crooks.
Beneath the finely groomed blissful suburban façade of America lurk desperation, denial, hypocrisy, and anger. The kids of suburbia today have an entirely different reality than the suburbs I grew up in during the 1970’s. The Ozzie & Harriet idealized version of suburbia from the 1950’s has degenerated to the Green Day nightmare vision of today. The suburbs have mansion-like homes with spotless interiors, entertainment centers, three car garages, manicured lawns, and no soul. The children of suburbia have been brought up on soda pop and Ritalin. They come home to empty mansions, as both parents must work to pay for the glorious abode. Our homes have gotten bigger and better, while our lives have gotten smaller and less satisfying. One third of all children in the United States are growing up in a single parent household. Many kids feel angry and disconnected from their families, friends and home. Fifty percent of all marriages end in divorce. The kids feel rage and hopelessness at their existence in a suburban nightmare. There are 2 million children who take Ritalin every day. Is this because they truly have ADHD, or it is the painless way out for overstressed suburban parents?
And as with the fantasyland version of a prosperous and virtuous America (there are no roads out of Pleasantville) it is all an illusion, an illusion that is rapidly becoming unsustainable for even the spinmeisters. While the little flim flam man Timothy Geithner was out lying his ass off once more in saying that the U.S. financial system was beginning to heal the retail results came in below what even the charlatans had predicted. By the way, I absolutely love the way that the economic spin goes whenever results are announced, it’s like we suck but because we suck less than we thought that we’d suck everything is getting better, well this time the numbers really do suck and people just aren’t buying shit because they have no fucking jobs. Also, the banks that the rigged stress tests said were so healthy are waiting for the next tsunami sized wave – credit card defaults, foreclosures hit record highs, GM will soon be exporting to the USA cars that are made in China and some pessimists at Standard and Poor are now predicting that the banking crisis is going to last until 2013. And here is my all time favorite, fresh off of Reuters:
Bear Warning: Stocks still face deflationary collapse – Jim Cramer meet Winston Wolf.
Somebody GASP has the audacity to piss on our nurturing little green shoots, realism you see is lost on the average corporate drone American. Optimism is for schmucks and they are once again all too happy to play their career role as fuckees, some people just aren’t going to really get it until they are standing in a fucking soup line, and even then it would be a miracle. Me, I listen to the guys who got it right from the beginning, Stiglitz, Krugman, Roubini and Gerald Celente of the Trends Research Institute, who in addition to being pretty much spot on in calling this fiasco happens to be as funny as hell. I will close with his latest Green Shoots or Greatest Depression?
The financial fields replete with sprouting “green shoots” should be viewed with suspicion, if not alarm. They are not a mirage, but they are ephemeral.
Field Marshall Ben Bernanke and his Green Shoot Brigade have fertilized the economic landscape with trillions of sweat equity dollars extorted from today’s public and the public of generations to come. Regardless of how depleted the land, heavy doses of dollars spread so thickly over the financial and government territories, will force “green shoots” to grow. But the fundamentals of the economy remain unsound. They will not be corrected by forced fertilizing barren acreage.
“Green shoots” may sprout, but they will not flower. The economy cannot be coerced back into growth with tons of money manure. As the ancient parable puts it:
“A sower went out to sow his seed: and as he sowed, some fell by the way side; and it was trodden down, and the fowls of the air devoured it. And some fell upon a rock; and as soon as it was sprung up, it withered away, because it lacked moisture. And some fell among thorns; and the thorns sprang up with it, and choked it. And other fell on good ground, and sprang up, and bare fruit an hundredfold. And when he had said these things, he cried, He that hath ears to hear, let him hear.” – Luke 8:4–8
Now hear this: it is inconceivable that the “green shoots” are signs of sustained economic recovery.
No one could have forecast that the government would not only intervene in the markets by pouring unprecedented trillions into bailout schemes, but that they would commandeer the whole free enterprise system.
The 800-pound gorilla has ridden the elephant into the Oval Office, and they are there for all to see. But few will call a spade a spade. Benito Mussolini described Fascism as “The merger of state and corporate power.” He suggested that, more appropriately, it should be called “Corporatism.” By whatever name, Corporatism or Fascism, what it’s not is Free Market Capitalism, much less Democracy.
“Green shoots” can only be brought to harvest through real productivity. Pumping gigantic sums of money into too-big-to-fail financial institutions to jump-start the lending/borrowing cycle is to perpetuate a failed economic model. (See “The Greatest Depression.”)
We can extrapolate creatively from data, but cannot prophesize wild cards, such as acts of God, acts of nature, or acts of man that can only be described as “schemes undreamed of.” While there have been warnings since the founding of the United States, no one, but no one, could have predicted the mega-merger of Wall Street and Washington that is now a fait accompli.
With so much money being dumped into the system, there will be money to be made … and lost. The agile and the knowledgeable may be able to reap “green shoots” while they’re sprouted. But beware!
“The Greatest Depression” – that we forecast would begin to set in by the end of this year – may have been postponed, but it has not been averted. When it does set in, it will do so with enhanced intensity and at a pace accelerated by complex financial finagling … all under the guise of nation-saving action. Rather than let the failing industries fail and the failed banks go bankrupt, the government is deliberately bankrupting the nation.
The lesson to be learned from the financial crisis that began in the summer of 2007, is that nothing succeeds like failure. The greater their failure, the bolder they become. The more they lose, the more they take. The greater the chaos, the more control they exact. The bigger they fail, the harder we fall.
No act is too unthinkable or measure too draconian for the Washington–Wall Street Mob to concoct in order to maintain power, make money and cover their losses. While it is impossible to second-guess what the government will do next, it is absolutely certain that they will stop at nothing.
The “green shoots” will wither and conditions will deteriorate. Those who are prepared for the worst will not have been taken by surprise.
Words of wisdom if there ever were any if there ever were any in this sad era of stupidity, sloth and moral depravity.
-H. L. Mencken
The previously discredited CNBC ace shill Jim ‘Mad Money’ Cramer has now become the point man for the regenerated Wall Street hydra, launching into a sleazy Rovian war with a real life economist who actually got it right in predicting the collapse Nouriel Roubini. Roubini, a man who was from the outset mocked, scorned and derisively labeled ‘Dr. Doom’ by the same type of four-flushing assholes who brought us Deep Capture has been declared public enemy number one and must be taken out with extreme prejudice for the big con to succeed. The oafish court jester of looter capitalism is now back with a vengeance as he according to this piece by Frank Rich of the damned liberal New York Times states in his recent piece Awake and Sing!:
“I am pronouncing the depression over!” declared CNBC’s irrepressible Jim Cramer on April 2. The next day the unemployment rate, already at the highest level in 25 years, jumped yet again, but Cramer wasn’t thinking about the 663,000 jobs that disappeared in March. He was thinking about the market. Mad money. Fast money. Big money. The Dow, after all, has rallied in the weeks since Timothy Geithner announced his bank bailout 2.0. Par-tay! On Wednesday, Cramer rang the opening bell at the New York Stock Exchange, in celebration of the 1,000th broadcast of his nightly stock-tip jamboree.
Roubini appropriately dismissed the man who acts like a baboon on crystal meth:
But “Cramer is a buffoon”, the professor countered, on the sidelines of a conference in Canada on Tuesday night. “He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. After all this mess, and after Jon Stewart, he should just shut up because he has no shame.”
The latest rally will fail when it becomes clear the economy is not improving and that several banks will be unable to pass the “stress tests” currently being carried out by the federal government, Mr Roubini says.
“Cramer keeps insulting me personally and saying a bunch of lies,” he told an Associated Press reporter. “He is not a credible analyst.”
Which of course didn’t stop the NYT from piling on Roubini in a Wednesday Op-Ed column by that unbiased source of wisdom William D. Cohan (a contributing editor for Fortune Magazine, the rag that featured a fawning hagiography back in the Depression years about Benito Mussolini and his fine corporate fascist system) that in upholding the finest traditons of Judith Miller poo pooed the questioning of the miraculous profits of Goldman Sachs as so much conspiracy theory even though Hank Paulson obviously had at best a conflict of interest in presiding over the TARP plan to socialize the losses of the looters to keep the big casino going. Similar sliming has been done to Nobel Prize winning economist Paul Krugman in the insipid Newsweek cover story of a few weeks back by hack Evan Thomas who openly and brazenly admits his bias: “If you are of the establishment persuasion (and I am), reading Krugman makes you uneasy.”. Stenographers for the elite like Thomas are largely responsible for this disaster to begin with in that they failed to perform their constitutional duties in ensuring that a free press would ensure that power be kept in check but he and his ilk are more interested in careerism, sucking up to the establishment and ensuring that they keep get invited to cocktail parties. No wonder that the regular corporate media is getting its ass kicked by the alternative media and the blogs, you just can’t trust the bastards on anything anymore.
But I digress…
It is asinine and childish to think that Paulson, the former CEO of Goldman Sachs did not abuse his position as the Bush regime’s Treasury Secretary to favorably rig the big bailout for the benefit of his cronies, just look at how the AIG bailout was used to further shore up the big Kahuna of the street and ensure that the revolving door between the temple of avarice and the White House remains fully operational. Seems like the blood sucking jackals at the real center of American political power, Goldman Sachs is sending it’s legal army after a Florida based blogger named Mike Morgan for daring to set up a website Info, Comments, Opinions and Facts About Goldman Sachs. The white shoe Wall Street law firm Chadbourne & Parke has been set loose upon poor Mr. Morgan for his daring to question these criminal pigs and their ongoing assault on the American economy – you know it’s bad when they don’t outsource their wetwork to India but somehow the site which as the delightful url of http://www.goldmansachs666.com/ has really but a bug up the pasty white asses of the house of Paulson and Blankfein.
I would recommend that everyone take the time to not only check out Mr. Morgan’s site but to back him in his David versus Goliath stand against the mother of all moneychangers in Goldman Sachs. Let the buffonish tea baggers take to the streets at the behest of the deranged shill Glenn Beck, Dick Armey, uber crackpot Richard Mellon Scaife and the Texas oil Nazi Koch Foundation (see Think Progress for the scoop on who is really sponsoring this phony white populist mayhem) but the real enemy of America sits in the ivory tower at 85 Broad Street in lower Manhattan and it’s toxic tentacles extend directly into the highest realms of the new Obama administration. Putting Timothy Geithner and Larry Summers in charge of economic policy along with other dubious appointments (or in the case of real progressives non appointments) are an early indicator that the only change for Obama is going to be chump change. The hedge fund hyenas and derivatives alchemists and their pushers are going to have free reigh while an exponentially growing number of Americans are being rendered jobless, homeless and exiled to tent cities…hell, at least Reagan gave people surplus cheese.
In a remarkable interview on the PBS program Bill Moyers Journal former S & L regulator William K. Black gets right to the heart of things:
BILL MOYERS: Is it possible that these complex instruments were deliberately created so swindlers could exploit them?
WILLIAM K. BLACK: Oh, absolutely. This stuff, the exotic stuff that you’re talking about was created out of things like liars’ loans, that were known to be extraordinarily bad. And now it was getting triple-A ratings. Now a triple-A rating is supposed to mean there is zero credit risk. So you take something that not only has significant, it has crushing risk. That’s why it’s toxic. And you create this fiction that it has zero risk. That itself, of course, is a fraudulent exercise. And again, there was nobody looking, during the Bush years. So finally, only a year ago, we started to have a Congressional investigation of some of these rating agencies, and it’s scandalous what came out. What we know now is that the rating agencies never looked at a single loan file. When they finally did look, after the markets had completely collapsed, they found, and I’m quoting Fitch, the smallest of the rating agencies, “the results were disconcerting, in that there was the appearance of fraud in nearly every file we examined.”
BILL MOYERS: So if your assumption is correct, your evidence is sound, the bank, the lending company, created a fraud. And the ratings agency that is supposed to test the value of these assets knowingly entered into the fraud. Both parties are committing fraud by intention.
WILLIAM K. BLACK: Right, and the investment banker that — we call it pooling — puts together these bad mortgages, these liars’ loans, and creates the toxic waste of these derivatives. All of them do that. And then they sell it to the world and the world just thinks because it has a triple-A rating it must actually be safe. Well, instead, there are 60 and 80 percent losses on these things, because of course they, in reality, are toxic waste.
BILL MOYERS: You’re describing what Bernie Madoff did to a limited number of people. But you’re saying it’s systemic, a systemic Ponzi scheme.
WILLIAM K. BLACK: Oh, Bernie was a piker. He doesn’t even get into the front ranks of a Ponzi scheme…
BILL MOYERS: But you’re saying our system became a Ponzi scheme.
WILLIAM K. BLACK: Our system…
BILL MOYERS: Our financial system…
WILLIAM K. BLACK: Became a Ponzi scheme. Everybody was buying a pig in the poke. But they were buying a pig in the poke with a pretty pink ribbon, and the pink ribbon said, “Triple-A.”
In a nutshell the system itself is rotten to the core and Geithner, Bernanke and the rest of Mr. Obama’s A Team of the best and the brightest are just more of the same dirty rotten scoundrels who have destroyed the global economy and are now being allowed to finish the job. For Christ’s sake, Obama is actually going out on television and pushing refinancing as if most people really qualify anyway for the simple reasons that (a) the banks aren’t lending (b) their existing loans are well in excess of the property value in most cases…and (c) you can no longer instantly qualify for a 400,000 loan if you have no job and about a million a month are being jettisoned as the real economy continues the freefall. I mean Jesus Fucking Christ, is this guy a president or a pimp?
Selling the Sizzle: The recent attempts to manage perception in order to reflate the bubble and save the squadrons of corrupt paper dealers is a propaganda masterpiece unseen since the bloodshed and chaos of the Iraq war was flushed down the memory hole courtesy of the great General Petraeus and THE SURGE. What is now going on is every bit as dishonest and even more monstrous in that the large scale thieves who run the system are using their media and pocket politicians to further entrap Americans in the shackles of debt slavery from which they shall never be free as long as the failure of unregulated looter capitalism is not dealt with and the cancer cut out once and for all. Don’t believe anything, it’s all a big lie of Hitlerian proportions, a public relations stew of deception that Goebbels would be proud of and you just have to love that little bumper sticker slogan Green Shoots.
Do NOT, I repeat do NOT put one nickel into the markets because in the end you will be sorry. I am advising people to take this postponement of the looming collapse as an opportunity to shore up your personal positions. Do not spend a dime you don’t have to spend, take all of your money out of your 401k once it has been reflated and put it into real assets. Pay down debt, start learning about how to garden, hey our grandparents did it didn’t they? Stockpile non-perishable food, buy a Lifestraw (provided you can find one) because they are coming to privatize your water soon, buy guns and ammo and most importantly be suspicious of anything that the assclowns who run the corporate media try to sell you with their propaganda.
Obama, tagged as the pope of hope by one blogger is just another errand boy for the big banks. Pope of dopes is more like it , it took Clinton and Bush years to cheapen the presidency but Obama has done it in record time, sliming around with the likes of Jay Leno on the electronic crackpipe, taking pot shots at cripples, escalating the war in Afghanistan, reneging on boatloads of campaign promises and in the absolute nadir shilling for the banks in imploring people to refinance their overvalued McMansions and other cheaply constructed shitboxes.
The Obamanoids eat it up too, they are legion and tripping over themselves in falling in line to shill for the most despicable of the Obama administration policies, like the failure to order the Justice Department to arrest Karl Rove for flouting subpoenas, continuing the illegal wiretapping, escalating the war in Afghanistan and most odiously as all choosing to back the banksters in the gutting of the American economy. Sure, there are the little feely good cosmetic changes like stem cell research and relaxing restrictions on Cuba (both by the way make economic sense and if there is one thing to commend Obama on it is the lack of ideology exhibited early on, which in a way is also damnable in that it only supports the status quo) and that ridiculous ‘pirates’ thing which is about as phony as Reagan’s defeat of that industrialized military juggernaut Grenada.
One thing is for certain though, no matter how well that Surge II works it is only going to make the inevitable collapse that much worse when it does come. And those vicious shitheads who worship the unholy trinity of Limbaugh, Palin and Joe the Plumber will only become meaner and more better positioned to take advantage when it becomes apparent that the only change that has occured is a new coat of paint on the whorehouse that is American capitalism.
The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.
As the conventional wisdom goes, the stock market is predicated on trust and as a crusty old uncle of mine once said to a young and impressionable teenager with zero knowledge of the way that the world really worked: “trust me is just another two letter word that means the same as fuck you.” Old Uncle Harvey’s words of wisdom came home to roost on this Monday morning in America when the finance oligarchs were able to use their inside juice to pull off the grandest and most audacious heist yet in this season of sleazy swindles. Obama Treasury Secretary and Wall Street fixer Timothy Geithner delivered the bacon for the bankers, gave the crack ho stock market a wonderful and intoxicating fix that sent the Dow screaming up by nearly 7 percent in a matter of hours and locked in the losses for the great grandchildren of every poor schmuck with the misfortune to be living through this period of plunder and wealth consolidation.
In phase two of the ongoing SPLURGE (any similarity to the con-game called the surge that allowed us to become winners in Iraq is fully intentioned), on Tuesday night, our very own national Teflon coated bullshit salesman, President Barack Obama, the banker’s gofer and shill for the new generation began to sell it to the saps and a marvelous job he is doing. This man my friends is no new Roosevelt, he is the devil in disguise and he (as many progressives had warned) is in the bag for the establishment. What we really have is a by proxy continuation of the Clinton administration, of course Hillary was to have been the one but in the waning days of the ruinous Bush-Cheney neocon war on America it was just too tough to pimp another dynasty so the crooks who run the system found another pitchman. I cannot possibly articulate the sense of disgust and betrayal that I am experiencing as I write this, it is very difficult to restrain my gag reflex and keep from vomiting on my keyboard because once again the scum wins again and Americans have been played for chumps. Nobel Prize winning economist Paul Krugman(another Nobel Prize winner Joseph Stiglitz decried its “perverse incentives”) and columnist for the damned liberal New York Times put it best in his Monday column Financial Policy Despair:
Over the weekend The Times and other newspapers reported leaked details about the Obama administration’s bank rescue plan, which is to be officially released this week. If the reports are correct, Tim Geithner, the Treasury secretary, has persuaded President Obama to recycle Bush administration policy — specifically, the “cash for trash” plan proposed, then abandoned, six months ago by then-Treasury Secretary Henry Paulson.
This is more than disappointing. In fact, it fills me with a sense of despair.
But the Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt. So this isn’t really about letting markets work. It’s just an indirect, disguised way to subsidize purchases of bad assets.
The likely cost to taxpayers aside, there’s something strange going on here. By my count, this is the third time Obama administration officials have floated a scheme that is essentially a rehash of the Paulson plan, each time adding a new set of bells and whistles and claiming that they’re doing something completely different. This is starting to look obsessive.
But the real problem with this plan is that it won’t work. Yes, troubled assets may be somewhat undervalued. But the fact is that financial executives literally bet their banks on the belief that there was no housing bubble, and the related belief that unprecedented levels of household debt were no problem. They lost that bet. And no amount of financial hocus-pocus — for that is what the Geithner plan amounts to — will change that fact.
You might say, why not try the plan and see what happens? One answer is that time is wasting: every month that we fail to come to grips with the economic crisis another 600,000 jobs are lost.
Even more important, however, is the way Mr. Obama is squandering his credibility. If this plan fails — as it almost surely will — it’s unlikely that he’ll be able to persuade Congress to come up with more funds to do what he should have done in the first place.
This isn’t likely to win Krugman any friends in the Obama White House, especially with a sleazy little political gangster like Rahm Emanuel who I predict will eventually make even the Great Satan Karl Rove look like an amateur running the show and protecting the interests of his investment banker buddies. While Barack Obama may be the friendly Fozzie Bear face of this latest hostile takeover of the White House the real example of how things are really done is in this incredible NYT piece from back in January:
Early this month, Barack Obama was meeting with the House speaker, Nancy Pelosi, and other lawmakers when Rahm Emanuel, his chief of staff, began nervously cracking a knuckle.
Mr. Obama then turned to complain to Mr. Emanuel about his noisy habit.
At which point, Mr. Emanuel held the offending knuckle up to Mr. Obama’s left ear and, like an annoying little brother, snapped off a few special cracks.
The venomous cobra that is Emanuel is of course Mr. Obama’s minder and handler, note that he was the first announced member of the new administration, the first of a reoccupation of Washington by Clintonistas. The promised change, at least to this point has been strictly cosmetic, the wars still continue, more troops are headed to Afghanistan, the graveyard of empires past, Gitmo is still open, the new administration is engaging in Clintonian language manipulation regarding ‘torture’ that invokes memories of “it depends on what the meaning of is is”, the military is getting ready to be sent to the Mexican border and there has been no serious discussion of reigning in the run amok police state and the Stasi style high tech domestic spying operations. Yep, change has come to America alright, just like “the check’s in the mail”, “this won’t hurt a bit”, “I love you” and “I promise not to come in your mouth”…and it was all wrapped up in a big bundle of stinking dogshit with a $ sign on it and parked on the doorsteps of Americans and set afire by the Geithner-Bernanke-Paulson triad with the unarguable message that you are either cops or little people. Webster Tarpley had a good one that I heard that saving the banks is like trying to save one of Count Dracula’s victims by giving the blood transfusion to the victim through the vampire when the real remedy is to just pull him off and drive a stake through his heart.
It’s over — we’re officially, royally fucked. No empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.
People are pissed off about this financial crisis, and about this bailout, but they’re not pissed off enough. The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d’état. They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.
The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve — “our partners in the government,” as Liddy put it with a shockingly casual matter-of-factness after the most recent bailout.
The mistake most people make in looking at the financial crisis is thinking of it in terms of money, a habit that might lead you to look at the unfolding mess as a huge bonus-killing downer for the Wall Street class. But if you look at it in purely Machiavellian terms, what you see is a colossal power grab that threatens to turn the federal government into a kind of giant Enron — a huge, impenetrable black box filled with self-dealing insiders whose scheme is the securing of individual profits at the expense of an ocean of unwitting involuntary shareholders, previously known as taxpayers.
There are plenty of people who have noticed, in recent years, that when they lost their homes to foreclosure or were forced into bankruptcy because of crippling credit-card debt, no one in the government was there to rescue them. But when Goldman Sachs — a company whose average employee still made more than $350,000 last year, even in the midst of a depression — was suddenly faced with the possibility of losing money on the unregulated insurance deals it bought for its insane housing bets, the government was there in an instant to patch the hole. That’s the essence of the bailout: rich bankers bailing out rich bankers, using the taxpayers’ credit card.
The people who have spent their lives cloistered in this Wall Street community aren’t much for sharing information with the great unwashed. Because all of this shit is complicated, because most of us mortals don’t know what the hell LIBOR is or how a REIT works or how to use the word “zero coupon bond” in a sentence without sounding stupid — well, then, the people who do speak this idiotic language cannot under any circumstances be bothered to explain it to us and instead spend a lot of time rolling their eyes and asking us to trust them.
That roll of the eyes is a key part of the psychology of Paulsonism. The state is now being asked not just to call off its regulators or give tax breaks or funnel a few contracts to connected companies; it is intervening directly in the economy, for the sole purpose of preserving the influence of the megafirms. In essence, Paulson used the bailout to transform the government into a giant bureaucracy of entitled assholedom, one that would socialize “toxic” risks but keep both the profits and the management of the bailed-out firms in private hands. Moreover, this whole process would be done in secret, away from the prying eyes of NASCAR dads, broke-ass liberals who read translations of French novels, subprime mortgage holders and other such financial losers.
The most likely scenario, should the Geithner plan go through, is a combination of looting, fraud, and a renewed speculation in volatile commodity markets such as oil. Ultimately the losses fall on the public anyway, since deposits are largely insured. There is no chance that the banks will simply resume normal long-term lending. To whom would they lend? For what? Against what collateral? And if banks are recapitalized without changing their management, why should we expect them to change the behavior that caused the insolvency in the first place?
The oddest thing about the Geithner program is its failure to act as though the financial crisis is a true crisis—an integrated, long-term economic threat—rather than merely a couple of related but temporary problems, one in banking and the other in jobs. In banking, the dominant metaphor is of plumbing: there is a blockage to be cleared. Take a plunger to the toxic assets, it is said, and credit conditions will return to normal. This, then, will make the recession essentially normal, validating the stimulus package. Solve these two problems, and the crisis will end. That’s the thinking.
Rome eventually understood that its imperial frontiers exceeded its resources and pulled back. This realization has yet to dawn on Washington.
More budget savings could come from a different approach to the financial crisis. The entire question of bailing out private financial institutions needs rethinking. The probability is that the bailouts are not over. The commercial real estate defaults are yet to present themselves.
Would it be cheaper for government to buy the shares of the banks and AIG at the current low prices than to pour trillions of taxpayers’ dollars into them in an effort to drive up private share prices with public money? The Bush/Paulson bailout plan of approximately $800 billion has been followed a few months later by the Obama/Geithner stimulus-bailout plan of another approximately $800 billion. Together it adds to $1.6 trillion in new Treasury debt, much of which might have to be monetized.
Could this massive debt issue be avoided if the government took over the banks and netted out the losses between the constituent parts? A staid socialized financial sector run by civil servants is preferable to the gambling casino of greed-driven, innovative, unregulated capitalism operated by banksters who have caused crisis throughout the world.
Perhaps the Federal Reserve should be socialized as well. The notion of an independent, privately-owned Federal Reserve system was never more than a ruse to get a national bank into place. Once the central bank is part of the state-owned banking system, the government can create money without having to accumulate a massive public debt that saddles taxpayers’ and future budgets with hundreds of billions of dollars in annual interest payments.
What do you get for pretending the danger’s not real.
Meek and obedient you follow the leader
Down well trodden corridors into the valley of steel.
What a surprise!
A look of terminal shock in your eyes.
Now things are really what they seem.
No, this is no bad dream.
-Pink Floyd (sheep)
In the ongoing madness of an America in terminal decline, the great Surge II is now underway. This one has nothing to do with mass brainwashing that all is ell in Iraq and that we are indeed winning thanks to our shining medal festooned superstar quarterback otherwise known as General God (aka David Petraeus) to divert the flocks attention away from a doomed imperialist crusade. Nope, this one hits closer to home, it started last Monday with a sly piece of internal propaganda from Citigroup’s CEO Vikram Pandit having its best quarter since 2007 which triggered a sucker rally in the Wall Street casinos that dictate to the inhabitants of chumpland. The pocket media once again did their job, selling this latest call for the sheep to come and be sheared with all the effectiveness that they pimped the murderous lies of George W. Bush, Karl Rove and Dick Cheney. Things – ARE getting better you see, the gloom-gloomers, the glass is half-empty pessimists, the neurotic nervous nellies and the naysaying Eyores are all wrong, it’s a disease, in their heads, the economy is rocketing its way back to robustitude. The most incredible example of just how thoroughly corrupt that the corporatist media has become is the pernicious cover story of the latest edition of Newsweek magazine that has a picture of good ole Uncle Sam saying that he wants YOU to START SPENDING!… YOU need to INVEST in America – before it’s too late.
The Newsweek story, by Daniel Gross which inside is even more insidious in that it beats the reader over the head with STOP SAVING NOW! – in all caps and taking up the better part of page 27, page 26 is a picture of a squirrel (a cartoon representation of those greedy pigs who dare to save their own money rather than gamble in the Wall Street casinos who holding onto a backload of acorns has caused the branch of the tree to CRAK! Jesus fucking Christ, this is propaganda at its finest, even a cynic like me is astounded by the dastardly nature of this banker swill in one of the nation’s premier ‘news’ magazines.
A more sophisticated version of Mad Money Cramer, Gross goes on to say:
Saving cash and building up reserves is a necessary first step to recovery. But eventually the mountain of cash has to be put to work. Last week’s sharp market rally was certainly a sign—however fleeting it may turn out to be—that investors are putting money to work again. Retail sales in February provided another hint that purse strings may be loosening. But there’s much more work to be done. Ironically, post-bubble periods are frequently great times to start new ventures. The best time to start a dotcom wasn’t in 1999 when the IPO market was raging, it was in 2002, when the price of everything associated with the business—office space, programming talent—had plummeted. When Allied Corp. in the late 1980s didn’t want to pursue the development of consumer products based on global-positioning-satellite technology, Gary Burrell left, raised $4 million and formed Garmin, which today employs about 7,000 people.
Great solution, just trust Wall Street with that money, think long term, be patriotic even if the malefactors of great wealth do not and are more than happy to wallow in international troughs and then come back to shit on America. Gross, a highly-paid, high profile stooge is just playing his part in the ongoing relaunch project to save Wall Street looters and protect their plunder. We have seen this story already, Americans with dollar signs in their eyes and cash register bells going off in their heads like some bizarre real life Uncle Scrooge cartoon, duped into thinking that they can actually become rich and powerful themselves just like The Donald line up to be fleeced by the flim-flam men with the political juice and insider knowledge as they seek to cash out one more time. Perhaps a final time before the country impoldes inward upon itself. All aided and abetted by the media, the Wall Street cadre occupying Barack Obama’s White House, guys like Lawrence Summers and the conniving little twit Tim Geithner whose announcement as the new treasury secretary was greeted by a 6.5 % spike in the DOW, the crack-ho economy got a mainline spike into the arm and knew that the paper pusher inside the administration would ensure them that the game would go on and on. In the end of course, all has been enabled by the bewildered herd of sheeple themselves, brainwashed from birth into the bastardized capitalist system that is already drooling over being able to suck the blood from their grandchildren on account of their greed, stupidity and folly.
As a counter to the mainstream drivel that Gross and Newsweek are peddling as pearls of infinite wisdom I counter with an excerpt from a piece from his month’s Harpers. Infinite Debt by Thomas Georghegan discusses the ruinous and usurious effects of the debt based economy and its victims The same ones that Gross and his fellow pocket media hacks are now trying to swindle out of whatever little they may now have in their piggy banks having been badly burned by the existing system that has beggared them and cast them out of jobs and homes in addition to destroying their pensions and 401k retirement plans. From the Harper’s piece (which I will be addressing at length in my coming post Usurious Bastards):
Which is why the middle class is shrinking. Basically, we’re all waiters now; we’re bowing and scraping and working for the banks. Look closely at any American, and it’s even odds that he or she, directly or indirectly, is somehow employed by the “financial services sector,” which covers insurance and real estate and financial instruments of any kind. As brokers, lawyers, loan collectors, loan consolidators, secretaries at big investment firms, chauffeurs of private limousines, or even the high-tech types who exist solely to service banks — all of us, millions of us, are part of it, living off it in some way, as three generations ago we lived off manufacturers.
The game is rigged people, and the hit job done on America by the rotten fuckers on Wall Street and their institutionalized system of debt slavery is all that is left, and STILL the banksters on the street and the gangsters in D.C. are doint everything that they can to continue to bleed the silly and naive masses of asses by doing all that is possible to get the debt/consumerism bubble reinflated. In a rare piece of sanity that slipped by the censors and minders of the memory hole a Reuters story, More debt: a curious solution to a credit crisis dared to utter the heresy that:
Indeed, a huge part of the Treasury’s economic rescue plan is based on reviving securitization. This is the process by which everything from real estate and auto loans to credit cards and student debt gets repackaged into bonds and is then sold on to investors in a secondary market.
Given this history, Wray, also a senior fellow at the Levy Economics Institute, said asset-backed bonds are the problem, not the solution. “We need to kill off securitization and go back to banking — loan officers and underwriting.”
Wall Street is a con game, it depends on confidence in order for the moneychangers to book their fees and peddle their bad paper, given the Surge II it’s apparent that the entrenched elitists are determined to wage war against any sort of change that Obama may have in mind. Given the first two months of the administration and while being mindful that it’s still early, despite some initial guarded optimism I am becoming more and more certain that nothing is changing except the management of the whorehouse. I now find myself in agreement more or less with those progressives who were wary of Obama from the onset, with his government packed with recycled Clinton era swine, the usual assortment of Wall Street and Federal Reserve grifters running fiscal policy and his still stinging kick in the balls from the Israel lobby over the Freeman resignation it only looks like more of the same shit but in a different package. Helicopter Ben’s announcement that the Fed would now be buying American debt to save their fucking system, the dollar immediately took a shit and with the coming wave of hyperinflationi as a result of this latest idiocy this story should send a cold chill up the spine of all who are onto what has really been going on as America has been gutted: The US is Facing a Weimar Moment. Read it if you dare.
As Orwell once wrote in the literary classic Animal Farm:
“All animals are equal, some are just more equal than others”
Republican ‘free marketers’ are unscrupulous and pathologically greedy, they also delight in the trafficking of human misery for profit. It makes them feel empowered. They are like the S.O.B. sitting at the Monopoly table who is not content in owning Boardwalk and Park Place as well as all of the utilities and railroads but also buys Baltic and Mediterranean and loads them up with houses and hotels then squeals with childlike glee when some poor bastard lands on one of them and is driven into bankruptcy. The game of Monopoly is very relevant to life itself in laissez-faire hell, where the rich are able to accumulate property on a rapidly escalating scale and as wealth rapidly increases the less fortunate are driven into bankruptcy with the winner being the monopolists.
This is Laissez-Faire ‘free market’ Capitalism in its ultimate form, the ‘free market’ is only truly advantageous and ‘free’ to those who have the most cash and assets and they are gathered at the expense of the poor who eventually are the losers but hey, that’s what it’s all about isn’t it in the Wall Street Journal’s perfect world. Now that the rape of the system has nearly been completed how long is it going to take until there is a realization of just how thoroughly the free market fanatics have cannibalized the country in pursuit of profit? And the denial needs to stop immediately, the existing system has already failed and failed miserably.
Capitalism is eating itself. Like a python slowly trying to digest it’s own tail, the economic master plan, the Shock Doctrine has come home now and the sheep are being prepped for yet another shearing, soon they will served up with a side of mint jelly.
It is important to understand that a distinction needs to be made when it comes to capitalism between that which is regulated and the ‘free market’ aka Lassez Faire strain that the road to hell is paved with. The end result of unregulated capitalism is monopoly of the most extreme sort as well as the redistribution of wealth to those at the top of the class system, I wonder why nobody has ever dubbed this as ‘trickle up economics’ which is of course exactly what it is. One of history’s most important and enduring lessons is that hundreds of thousands must toil in the muck in order to allow one rotten, greedy son of a bitch to have his face displayed on a sphinx. The American middle class are the ones who are forced by their Wall Street pharaohs to build the bricks for the monuments to the super wealthy under increasingly hostile conditions in increasingly dangerous work environments with an increasingly smaller amount of straw.
The establishment after all has a vested interest in the existence of a huge and desperate underclass. The accompanying crime and urban rot helps to breed the necessary fear that justifies increased police powers and surveillance so as to keep the interests of the elite safe and sound while they sleep behind the walls of their gated communities each night. We were swindled by the free market pimps and deregulation pushers, all that it all did was create conditions for monopolies and trusts and consumer gouging. Take an honest look at yourself, are you truly better off today than you were yesterday? Or the day before? Or five years ago?
Well understand one thing…..today is as good as you are going to have it for the rest of your life under this existing rotten system.
We Are All Losers: The system itself is designed to make losers of us all except that extreme few with the means to purchase influence and therefore protection.
Under this system we all lose, mainly our losses are incremental.
We lose our lives through an increasing amount of time spent on a job locked in a struggle of diminishing gains to even survive.
We lose our health
We lose time with our children and families, this is the most tragic loss of all in most instances as it perpetuates the cycle of the decline in human relationships and destroys the family. Despite what the establishment propagandists and their phony religious wars with their insipid ‘pro family’ sloganeering it is not the loss of morality in through cultural changes in society that is causing the degradation of the family but the greed of an unfettered and monstrous capitalist system that demands more and more in order to slake its bloodsucking appetite for profits. It is the pursuit of these profits at the expense of our humanity that has laid waste to the family, and our values and every day that we are forced to prostitute ourselves in order for the wealthiest of the greed mongers to further entrench themselves is one more day closer to the day that we will ultimately die in vain for their sins.
And in buying into the legitimacy of this lie of a system we ultimately lose our souls.
In a system that is designed to ultimately make losers out of all but the very few who are able to parlay their inordinate influence into being able to utilize it as a weapon of exclusion I found the following from the late, great Hunter S. Thompson to be words of wisdom, this in reference to the ultimate outsiders The Hells Angels:
Let’s just hope that there are still some outlaws left out there amongst the sheeple, they are all that we have when it comes down to whatever hope there may be left in an increasingly hopeless and hostile world.
There is an important difference between a ‘loser’ and an ‘outlaw’ . One is passive and the other is active and the main reasons that the Angels are such good copy is that they are acting out the daydreams of millions of losers who don’t wear any defiant insignia and who don’t know how to be outlaws.”
The Angels don’t like being called losers but they have learned to live with it. “Yeah, I guess I am” said one “But you’re looking at one loser who’s going to make a hell of a scene on the way out”
This worked wonders during the boom of the past couple of decades, leading to rapid capital formation that underpinned a huge rise in lending. But when the music stopped, many investors were left looking for an empty chair as these products of financial “innovation” proved ruinously difficult to value.
What is history, really, but a turf war between manufacturing, labor and the banks? In the United States, we shrank manufacturing. We got rid of labor. Now it’s just the banks.
The hum of ambient noise in midtown Manhattan is several decibels lower than it was a year ago. Fewer black Town Cars idle outside the investment-bank offices on Park Avenue. The aisles of the flagship Saks Fifth Avenue are so quiet you’d think you were in a library. The restaurants and shops at Rockefeller Center are open as usual, but they seem oddly depopulated. Where are all the tourists and office workers, the hordes of junior analysts lining up in Starbucks?
Something less tangible is also absent: the spirit of caffeinated, heedless risk taking. For a generation, risk has been the adrenaline of the nation’s economy, the substance that made us all—from the denizens of midtown Manhattan to the residents of Manhattan, Kans.—run a little faster and stay up a little later. Now, with the economy in its 16th month of recession and the markets scythed in half, it seems we’ve all either switched to decaf or simply lost the taste for risk.
As consumers hibernate and investors hoard cash, the economy is withering. This new age of thrift is understandable. But for a recovery to take hold, Americans will need to start taking risks again.
Wake up, will ya pal? If you’re not inside, you’re outside, OK? And I’m not talking a $400,000 a year working Wall Street stiff flying first class and being comfortable, I’m talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars buddy. A player, or nothing.
In the movie that would serve as a blueprint for the future lives of young turks shat out of the womb of 1980s Reagan eat the poor capitalism a young broker named Bud Fox (played by Charlie Sheen) engages in a bit of trickery to manipulate stock prices by invoking the magic words “Blue Horeshoe loves Anacot Steel” over the phone to players and media hacks. The movie was Oliver Stone’s Wall Street and the young Fox was in the process of selling his soul to the canny devil in suspenders who would become an iconic cultural figure. The seducer was big time corporate raider Gordon Gekko (Michael Douglas) whose amorality and worldview rooted in the dogma that “greed is good” would serve as the role model for the very large scale looters, charlatans, thugs, hedge fund hyenas and money grubbing sociopaths who are responsible for the global financial collapse. Through their avarice, their blood-sucking vampirism and their relentless pursuit of zero sum game, fuck you capitalism they have killed the goose that laid the golden egg, beggared millions and first built and then destroyed trillions of dollars in fairy tale wealth that never existed in the first place other than in numbers in a computer. The smart ones cashed out and put their money into real assets, gold, real estate, commodities, off-shore bank accounts that would allow the chiselers to evade taxes on their ill-gotten gains.
The reason that I invoke “Blue Horseshoe Loves Anacot Steel” is largely inspired by a very interesting and provocative website that I was informed of called Deep Capture which examines a concerted and widespread effort by Wall Street parasites and their many accomplices in the media to influence the markets by spreading disinformation and engaging in short selling to create nonexistent stock and making money by driving down share prices from which they would profit. To put it in pop culture terms that are more easily understandable to the layman than all of that four-flushing Wall Street bullshit jargon, short selling is what Billy Ray Valentine and Louis Winthorpe did to bring down Randolph and Mortimer Duke by busting their racket to corner the orange juice market at the end of the movie Trading Places. The story put forth on Deep Capture is an exposure of a grand theft perpetrated against legitimate businesses, non-connected investors and America itself by a fiendish cadre of jackals working together to suck the marrow from the bones of not only the USA but the entire interconnected global economy that is currently on the precipice of ruination and the cause of widespread unrest that will soon be coming home to roost.
Now I am certainly no expert when it comes to the high-flying world of financial chicanery which is deliberately confusing and opaque so as to discourage close scrutiny and I am not even going to attempt to get into trying to explain this crap but even to a working shmoe like myself this sets off the alarms for fraud and criminality, the effects of which actually do trickle down (unlike the horseshit ‘free market’ deregulated predatory environment) and affect the lives of millions of victims. These are the poor people who lose their homes after being duped into taking out adjustable rate mortgages by the pimps peddling the mythical America dream, they slyly and misleadingly call it the ownership society (they own your ass) and then having those mortgages sliced, diced and packaged into complex financial instruments that are derivatives. The derivatives – the one word that is taboo in discussing the entire economic fiasco (kudos to Keith Olbermann who in his March 9th show invoked the D-word close to twenty times) for the simple reason is that it would be the accelerator to the smoldering anger and resentment already working its way through the populace and threatening civil unrest over the ongoing efforts by our wonderful government to continue to pump taxpayer money into a corrupt, rotting and diseased system to just keep the game going a bit longer to let the well connected high rollers cash out.
Note the failure of the Obama administration to do what is necessary and nationalize the banks, wipe out the gamblers and fire the management to pull these leeches off of our backs, that is rooted in an ongoing occupation of Washington by insiders. The key with any sort of real rescue of the financial system is with the devil in the details, it is imperative that the bad bank or whatever other Orwellian name that is assigned to the clearinghouse where the poisonous paper of the treacherous banksters be set up so that they can launder their money and saddle the next three generations with the bill. The rush is on too because the looming cataclysm of a tidal wave of mass commercial property defaults is near and the moneychangers know this.
Now at midnight all the agents
And the superhuman crew
Come out and round up everyone
That knows more than they do…
Then they bring them to the factory
Where the heart-attack machine
Is strapped across their shoulders..
…and then the kerosene
Is brought down from the castles
By insurance men who go
Check to see that nobody is escaping
To Desolation Row
-Bob Dylan: Desolation Row
The victims of the plague of foreclosures wrought by the Ponzi schemes of mortgage backed securitization (DERIVATIVES) are despite the best efforts of the shills and payroll propaganda parrots like the usual right-wing scum along with useful idiots such as CNBC’s Rick Santelli to paint them as losers and resort to the bread and butter tactic of ‘blaming the niggers’ are growing by the day in number. The courts are clogged, there are millions being forced out of the homes that they were tricked into buying by con men and carpetbaggers bearing ‘exotic’ mortgage schemes to game the system, falsely inflate real estate prices (now dropping like a rock subject to Newton’s law of gravity) and then book their commissions and fees fully knowing that when the music stopped they would ensure that there would be a chair under their mangy asses. The music did stop when the systemic rot could no longer be spackled over and the grossly overinflated markets began to crash under the weight of their own toxic bullshit like the houses of cards that they always have been. The economic diaspora cast adrift in a sea of hopelessness filled with ravenous sharks grows in number by the day. The best efforts of the Barack Obama administration to mediate the fiasco are hamstrung from their inception since he is as his predecessors were surrounded by same gaggle of financial wizards from Goldman Sachs and the Federal Reserve who will always be first and foremost interested in self-preservation and protecting their cronies.
But I digress…
Tuesday’s massive stock rally (the Dow was up nearly 400 pts) was largely the result of the buzz that the besieged monstrosity Citigroup was according to inside info sent into the media spin machine by CEO Vikram Pandit having it’s best quarter since 2007. Now considering that Citigroup is on bailout number fucking THREE I would certainly hope that they are having improved results but the news of this was disseminated early and the desired effect, to give another shot in the arm to the crack ho markets was a rousing success. Now it should be no hidden secret that Wall Street’s interests are diametrically opposed to those of the majority of Americans, those who are generally referred to by the talking heads and political whores of the oligarchy as “Main Street” As the financial sector has risen to a level of dominance in this country opposed only by the military-security industrial complex and to these powerful interests, everyone and everything else is simply collateral damage. By the way, this week’s Citigroup inspired sucker rally is now in the third day as the get rich quick rubes are ready to roll over and pay to grab a mouthful of pillow for the inevitable ass-fucking that they will be getting after this latest pump and dumb scam plays out. The seal of approval of the latest laying of poison bait was given by judas goat Cramer on Mad Money on Thurday – This Rally is Real!
The influencing of the markets and the complicity of certain media figures in pushing the lies of Wall Street thieves has gotten some rare attention as of late with the brilliant and ongoing attack on CNBC’s Jim ‘Mad Money’ Cramer by Jon Stewart on the Daily Show. CNBC is nothing other than a FOX News style propaganda network that works for the voracious Wall Street piranhas instead of the neoNazi, fascist Republican party. Both are nothing but disinformation factories that churn out public relations pieces like link sausage made with tainted skunk meat. Cramer is a big player in the collapse and the massive fraud, he is not just some bug-eyed babbling baboon on crystal meth as he appears, the preening court jester of looter capitalism. No, what Jim Cramer is is a Harvard educated connected man, a former hedge fund manager and business associate of vitriolic neocon Marty Peretz, formerly of the DLC democrat rag The New Republic and an Israel Lobby kahuna still hung over from the orgy of blood drinking that resulted in the brutal takedown of Charles Freeman this week.
Mad Money Cramer has had increased visibility this week due to the Stewart videos that have gone viral on YouTube and appeared on websites and blogs aplenty (including this one) and his admitted complicity in rigging the markets back in 2006. Now even a former Republican congressman, Tom Davis is suggesting that Cramer be made to testify on his knowledge of the hedge fund manipulation. It is also of my personal opinion that Cramer should be hauled into court and forced to spill his guts on his role in manipulation of the markets. He is an arrogant and volatile ass clown, a fucking sociopath and a a flim flam man without peer. Dig this little nugget from the Deep Capture website entitled: Jim Cramer is a Complicated Man.
In 1994 Cramer hired Nicholas Maier as a favor to Marty Peretz, who was close with the Maier family. Maier worked for Cramer until 1998, then left and wrote a tell-all book about his years with Cramer: Trading with the Enemy: Seduction and Betrayal on Jim Cramer’s Wall Street (New York: HarperCollins, 2002) It contained detailed description of Cramer’s manic and abusive style. For example, Maier recounted the following scene after a trader at Cramer’s firm, Mark Kantor, executed a buy order at a price one-quarter point higher than what Cramer had expected, a total difference of $625:
“‘The broker fucked us, big time!’
“‘The eighth offering was fading when we called,’ Mark explained.
“Jim bit down on his lower lip as his hands clench into fists. He leaned forward to get closer to Mark, and started banging on the top of his monitors. The crown of his balding skull reddened as he yelled at the top of his lungs in a high-pitched whine.
“‘I told you they fucked us! Fucked us, fucked us, fucked us!’
“‘Listen to me.’ With piercing eyes Jim scanned our sober faces. ‘This is not some fucking joke!’ he screamed, spit flying from his mouth. ‘We are at war. We are in a foxhole.’ He flung out his hands. ‘Everyone out there is the enemy!’
“Mark nodded to show Jim that he understood. That wasn’t what Jim wanted. He started smashing his phone over and over on the desk in front of him. He lifted a monitor and heaved it like a shot put. After flying several feet, it shattered on the floor.”
Maier also described Cramer’s questionable trading ethics. One passage noted a brush with naked short selling:
Jim turns toward his head trader. “Mark, sell ten thousand Bristol Myers.”
“We never bought any Bristol Myers,” Mark replies.
“We own the calls,” Jim corrects Mark impatiently, aggravated by the delay.
“So sell it short?” Mark asks for clarification. Mark knows that according to the SEC rule book, selling stock you don’t already own (even if you do own the call options) must be marked and executed as a short sale.
“You are confusing me with someone who gives a shit. Just sell it! I said hit the fucking bid!” adds Jim, not interested in wasting time over petty semantics. Skirting the “plus tick” rule in this case won’t necessarily make us a lot of extra money, but in Jim’s eyes, the rule is still an unenforceable annoyance. “And don’t ever ask me that again!”
Even more hilarious is that Cramer claimed to be the inspiration for Charlie Sheen’s Bud Fox character, I shit you not. It’s like that other egotistical horses ass NFL agent Drew Rosenhaus claiming that he was the inspiration for Jerry Maguire. These guys have no fucking shame at all.
In the coming days Cramer willl be a source of much amusement, that much is as certain. In his much hyped Godzilla vs. King Kong steel cage death match with Jon Stewart last night the consensus is that Cramer got his ass handed to him, and justifiably so. Hey, what this guy is a part of is racketeering and should be prosecuted to the full extent of the law, the man is a con artist and the only real difference between him and those predators who fleece grandma and grandpa out of their retirement money by high pressure selling them to buy into shitty time share scams on the Okeefenokee Swamp is that he has a propaganda network behind him. He belongs on some late night cable television infomercial selling the newest version of the juicemaster or hawking penis enlargement devices.
Since his career as some kind of oracle of instant wealth is now on the downside he had best avoid the latter gig…..his future cellmate may be a customer.
Let’s get one thing straight right out of the gates – Wall Street is the enemy of America. These financial terrorists continue to ravage the country, yesterday’s announcement of February job losses of nearly 700,000 brought a spike in stock prices, another mainline hit to the crack ho economy. With the misery mounting the Obama administration and the entrenched Goldman Sachs and Federal Reserve bandits who really run the system are mounting a withering counter attack on any plans to dismantle the existing system of avarice by watering down the stimulus (an ass fucking with a reacharound) package and calling in the markers with all of their whores in Congress and the media to preserve the existing spoils system. When the sock puppet occupant of the White House, our shining new Jesus even emerges as a shill for Wall Street you can rest assured that the fix is in and the only change that you will be getting is chump change.
It now appears that the naysayers were right. While the new frontman and his gaggle of recycled Clintonistas and Goldman Sachs and Federal Reserve moneychangers are asking for austerity from everyone else but the pigs on Wall Street continue to have their piggie troughs filled with more and more stolen loot. I have heard a lot of stuff on how this is just another opportunity for the oligarchy to bust everyone else and then consolidate. This sadly seems to be the case and once the entire middle class has been butt-fucked into bankruptcy the malefactors of great wealth are going to swoop in to buy up everything for pennies on the dollar.
Some people are saying that this is only another step towards the ‘one world government’ that has always been discussed by the paranoid elements of the far right as a communist or socialist takeover. They are wrong though, the driving force behind this would be financial kingpins of capitalism and the one world system would be corporate fascism.
The Obama administration is not going to reign in either the bankers (who really run this system) or to stop the wars of imperialism, the population will be beggared and the police state brought in to put down the rabble so that the big con goes on.
I don’t know if anyone has ever ever heard of Carroll Quigley but you need to check out what he says on finance capitalism and global banker control – it’s too complex to go into at lenght right now but is worthwhile background information. A good read is a post by blogger Tocque Deville entitled History: How the U.S. Government Was Overthrown in Three Easy Steps.
There is no intention of providing Americans with anything even remotely resembling real choices in their political system, ‘leaders’ and government and this was stated by Professor Quigley in his outstanding and largely obscure book Tragedy and Hope which revealed the way that the system really worked in regards to the financial elite and the secretive round table groups who represent the puppeteers for the easily blackmailed, controlled and greedheaded arrogant buffoons who are the political actors who are trotted out for public consumption. Quigley in the extensive research that he did on the global elite states:
There does exist, and has existed for a generation, an international Anglophile network which operates, to some extent, in the way the radical Right believes the Communists act. In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other groups, and frequently does so. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960’s, to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. I have objected, both in the past and recently, to a few of its policies (notably to its belief that England was an Atlantic rather than a European Power and must be allied, or even federated, with the United States and must remain isolated from Europe), but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.
The argument that the two parties should represent opposed ideals and policies, one, perhaps, of the Right and the other of the Left, is a foolish idea acceptable only to the doctrinaire and academic thinkers. Instead, the two parties should be almost identical, so that the American people can “throw the rascals out” at any election without leading to any profound or extreme shifts in policy.
The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.
So the game is rigged already, it is supposed to be rigged and the only question is whether this financial catastrophe was set up or was being set up and was then triggered prematurely through greed, incompetence and the entire monstrosity just becoming unsustainable.
And the one-eyed idiot, Gordon Brown has just appeared before Congress to continue to push for the globalist dominination, the shock doctrine writ large, the grandest robbery in history. His editorial for the London Times on March 1st shows that the future is global consolidation and a new feudalism.
A bitter and recalcitrant bunch led by a red state rat pack including career scoundrel and now the overly corpulent governor Mississippi Haley Barbour. The cornerstone of peckerwood nation that Barbour reigns over deserves recognition as the 2008 winner of the dubious honor of being the fattest state in America that is Mississippi, their third title in a row. Just think of the 1970’s Pittsburgh Steelers and Joe Montana era San Francisco 49ers in terms of NFL football dynasties and you get an idea at exactly where Mississippi (answer to the joke: what has four eyes and can’t see?) ranks in the obesity hall of fame. With leadership like Barbour, the Magnolia State may yet see a Bill Russell era Boston Celtics decade long stranglehold on the title were it not for the economic decay that threatens to bring widespread hunger to the Homeland. Along with Barber were Gov’s Mark Sanford of South Carolina (who did offer to pray for the people needing the aid), the oily Rick Perry of Texas and GOP rising star Bobby Jindal of Louisiana, a glad-handing little twerp of a deceitful charlatan who looks like he could be a rug merchant in the Mumbai slums. After B.J.’s embarassing response to Obama’s rousing speech on Tueday night perhaps he should consider whether or not such a career change is in order, there is nothing like being butt-fucked live on national television that is the kiss of death for political aspirations, other than that there is always American Idol or Dancing With the Stars. He reminded me of a talking Pinocchio style puppet version of Bob Denver, only with a much better tan and without Gilligan’s trademark hat.
The gumption of the reactionary fascist bloc is indicative of a savage and rabid cornered rat, still stinging over the massive public rejection of last November the red-ass party is now unified in opposing the impending nationalization of the failed banking system. I say impending because despite lobbyist pressure, a vast media propaganda apparatus, right-wing think tanks that pop up like incurable herpes genital warts and a frothing at the mouth underclass looking for scapegoats because the chain reaction has already been set off and nothing is going to stop the collapse of the Ponzi economy. Game’s up jack, it ain’t ever comin’ back and the planet killer asteroid that are the derivatives aren’t even on the radar screen yet. The derivatives are the doomsday machine coming home like the prodigal son of looter capitalism turned Hannibal Lecter and with Oedipal revenge on the mind to fuck mommy up the ass and whack daddy into McNugget sized snack treats for later on when watching The O’Reilly Factor on TIVO.
The derivatives are the insanely complicated hedges, side bets, grand scale financial chicanery that should be illegal so dangerous are they. The wizards and masters of the universe like their scientific madman geniuses who build machines that could create an Earth destroying black hole have in their greed, arrogance and the smugness that could only come from having the entire political and judicial system in their pockets along with the trump card of a bought and paid for media built what capitalist hero Warren Buffett once called financial weapons of mass destruction. We aren’t even hearing about these fuckers yet and that my friends should scare the shit out of everyone. As the muckraker Upton Sinclair once remarked “It is difficult to get a man to understand something when his salary depends upon his not understanding it.”, and the derivatives monster albeit insanely complex and convoluted will no sooner be addressed by the “experts” and “many economists” that you regularly see mentioned in financial news than the fact that the house of cards of the Ponzi economy was in the crosshairs of a category five shitstorm. Always remember that these same “experts” and “economists” failed to acknowledge the problem in the first place, choosing to mock the experts like Nouriel Roubini who dared to call bullshit and earned the nickname Dr. Doom as a result of his heresy. It was as recently as nine or so months ago that the carnival barkers and shit salesmen were saying that the economy was still “fundamentally sound”.
There will of course always be distractions and the suckers in ample supply as always will continue to bite. In the great 1980’s Bruce Willis movie Die Hard an international group of thugs invade and take over Nakatomi Plaza, holding hostages and all under the pretense of terrorism. The real truth is that the terrorist ploy was designed to provide cover for a massive robbery and in the end all the hostages would be marched up to the roof of the building which mined with C4 explosives would be blown up, killing all of the hostages and allowing the perps to escape to their beaches of choice where they could bask in the sun collecting interest on their plundered loot. What is going on now with the terrified oligarchy and the manufactured distractions from their propaganda parrots is reminiscent of exactly that.
II: Games Without Frontiers, War Without Tears
The fascist controllers are in full recognition of the rising tide of anger that is the result of economic despair brought on by a rotted and failed system. I would suggest that any who may have some degree of doubt about the coming reaping of the whirlwind her in Der Homeland only take a look around them for signs. In a couple of recent articles that I personally find relevant, Michael Klare’s A Planet On The Brink and Chris Hedges’ Bad News From America’s Top Spy. The observation that the political unrest that is currently occurring outside our little flag draped cocoon of ignorance and denial will soon be coming to America. An additional reading assignment is this article from The Guardian entitled Summer of Rage.
Hedges’ piece is particularly disturbing in that he speaks of the Obama administration’s newly minted Director of National Intelligence (DNI) Dennis Blair. During testimony before the Senate Intelligence Committee Blair spoke gravely of the repercussions of the financial meltdown that could lead to domestic riots, mass protests and widespread civil disobedience. Blair, a man with a bit of a history of disregard for human rights (note his involvement in East Timor attrocities) as well as the monstrous, ever intrusive police state apparatus at his disposal. The latter surveillance and repression complex that still operates with total impunity and is not subject to any form of legitimate oversight or accountability despite the change in management at the Washington whorehouse.
Mr. Hedges in his aforementioned piece also links to a U.S. Army War College report entitled Known Unknowns: Unconventional “Strategic Shocks” in Defense Strategy Development that specifically recommends that the military be prepared to respond within U.S. borders against American citizens for the coming backlash as the economic deterioration quickens and the rising tide of anger reaches the boiling point. The big boys know that the cataclysm is coming and are ready to respond to it with extreme prejudice.
In layman’s terms, the state is soon going to be weaponized by the very parasites who have sucked the country dry and sold us all out for chump change and are going to make damned sure that the rabble is put down like rabid dogs when the time comes. Now that Posse Comitatus has been rendered irrelevant and the new programs that grew out of the shadow government’s prototype REX 84, Cable Splicer and Garden Plot martial law plans are ready to be implemented. The trap is about to slam shut just at the time that a growing number of the general public is finally starting to get the point that the late, great George Carlin articulated so greatly in his epic rant about who really owns America:
Forget the politicians. They’re irrelevant. The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the state houses, the city halls. They’ve got the judges in their back pockets. They own all the big media companies so they control just about all of the news and information you get to hear. They got you by the balls!
They spend billions of dollars every year lobbying. Lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else. But I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t well-informed, well-educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interest. That’s right.
You know something? They don’t want people who are smart enough sitting around the kitchen table to figure out they’re getting fucked by a system that threw them overboard thirty fucking years ago. They don’t want that. You know what they want? They want obedient workers. Obedient workers. People who are just smart enough to run the machines and do the paper work, and just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and the vanishing pension that disappears the minute you go to collect it.
And now they’re coming for your Social Security money. They want your fucking retirement money. They want it back, so they can give it to their criminal friends on Wall Street. And you know something? They’ll get it. They’ll get it all from you sooner or later. Because they own this fucking place. It’s a big club… and you ain’t in it. You and I are not in the big club.
By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long, beating you over the head in their media telling you what to believe, what to think and what to buy.
The table is tilted folks. The game is rigged. And nobody seems to notice. Nobody seems to care. Good, honest, hard working people. Blue collar, white collar, doesn’t matter what color shirt you have on. Good honest hard working people continue… these are people of modest means… continue to elect these rich cocksuckers who don’t give a fuck about them. They don’t give a fuck about you. They don’t give a fuck about you. They don’t care about you. At all. At all. At all. And nobody seems to notice. And nobody seems to care.
That’s what the owners count on, the fact that Americans will remain wilfully ignorant about the big red, white and blue dick that is being shoved up their ass every day. Because the owners know the truth. It’s called the American Dream because you have to be asleep to believe it.
Of course the ownership society always meant one thing and one thing only, they own our asses, the game is rigged alright and the oligarchy is going to ensure that it stays rigged even if they have to call in the jackbooted thug paramilitary types, the militarized police and even the fucking military itself to protect the looters. Anyone who has read Naomi Klein’s brilliant and seminal book The Shock Doctrine knows how the game works. The oligarchy could always count on massive public ignorance as long as the lemmings watched T.V. and went shopping, then there was the element of constant fear implemented post 9/11 by the Republican neo-Nazi thugs and their tool George W. Bush (himself the grandson of a Nazi enabler). Now though with the cataclysm still only in the early innings the zeitgeist is starting to turn on the pirates of plunder. This stunning ‘joke’ by comedian Bill Maher on HBO’s Real Time With Bill Maher series is as viciously audacious as it is dangerous to those who have presided over the biggest robbery in history:
Now I am saying…I don’t think we should put all the bankers to death, just two. I mean maybe it’s not technically legal but let’s look at the upside – if we killed two random greedy pigs…I mean KILLED – like blew them up at halftime of next year’s Super Bowl or left them hanging on the big board of the New York Stock Exchange with their balls in their mouths – I think it would really make everyone else sit up and take notice.
I can guarantee you that the ruling class is taking notice and is putting their protectors on notice, the horrifying little National Guard urban warfare training exercise in Arcadia, Iowa is an example of what is really going on, largely in a cone of media enforced silence, you don’t want the cattle to know that when they reach the end of the chute that the pneumatic air-hammer is going to smash their brains into jelly prior to the slaughter. The creation of NORTHCOM and the now infamous Army Times story about battle hardened troops being brought home from Iraq are puzzle pieces that are falling into place. Rob Kall, editor of the great website Op Ed News did a piece earlier this week called Coming Soon – Riots in America?, in which he speaks of many of the same things that I am addressing in this posting but this is the truly ominous piece from Mr. Kall:
I just spoke to a friend who knows someone who is trying to get out of the military because they are training returning troops for riot control to take over US cities and he doesn’t want to be a soldier dealing with US citizens. On top of that, these returning Iraq vets are burned out and “fried” with PTSD and exhaustion. And he doesn’t want to pick up arms against his own country.
This same source says the military is setting up a separate communication system. In the military, securing or taking out communications is one of the first steps. If you are an invader, you need to bring your own communication system because you have to assume that the existing system will be destroyed or compromised.
The future, as Leonard Cohen once put it, is murder. The Army War College study that I referenced earlier is reminiscent of a British Ministry of Defense report from back in 2007 that was written about in the London Article with the title: Revolution, Flash Mobs and Brain Chips and among many other extremely troubling predictions this one particularly seems to be of an increased degree of relevance given the current breakdown in the global social order:
“The middle classes could become a revolutionary class, taking the role envisaged for the proletariat by Marx,” says the report. The thesis is based on a growing gap between the middle classes and the super-rich on one hand and an urban under-class threatening social order: “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest”. Marxism could also be revived, it says, because of global inequality. An increased trend towards moral relativism and pragmatic values will encourage people to seek the “sanctuary provided by more rigid belief systems, including religious orthodoxy and doctrinaire political ideologies, such as popularism and Marxism”.
Pressures leading to social unrest
By 2010 more than 50% of the world’s population will be living in urban rather than rural environments, leading to social deprivation and “new instability risks”, and the growth of shanty towns. By 2035, that figure will rise to 60%. Migration will increase. Globalisation may lead to levels of international integration that effectively bring inter-state warfare to an end. But it may lead to “inter-communal conflict” – communities with shared interests transcending national boundaries and resorting to the use of violence.
The article is subtitled A Grim Vision of the Future, that is the future for those who happen to be on the receiving end of the grand ass-fucking of globalization. Note that the MOD report ties the social upheaval due to the anger of those robbed by the globalists to that old devil Karl Marx whose writings have provide so much ideological cover in the past to those seeking to strip mine the planet. It is especially notable that any progressive or leftist attempts to take over the power structure are always painted up like the fake devil Marx when it comes to having to justify the systematic use of torture, murder and illegal internment that is the basis for fascist capitalism. We have seen this game before, we have seen it in Latin America, Africa, across Europe and the Asian continents, we have seen it in the Arab world and now it is being used to put down the citizens of the Anglo-American empire itself who are now victims of this corrupt system of institutionalized rape and thievery. Imperialism is nothing more than murder and slavery, it has always been that way.
III: The Summer of Rage – Hijacking the Revolution
Divide and conquer is the oldest tactic in the book. This strategy is playing out right now as the guardians of the oligarchy use their bought and paid for corporate media pulpits to propagandize and deceive. Notable is FOX News’ involvement in fomenting violence and seeking to splinter and confuse the victims of the grand Ponzi scheme into attacking each other rather than the real cause of their misery. Glenn Greenwald addressed this in his recent piece entitled Fox News “war games” the coming civil war.
In a flaming Fox News extravaganza, bursting at the seams with more than the usual fascist bullshit dime store demagogue Glenn Beck (the former local Tampa Bay hack who used to specialize in staging ‘big eater’ runs prior to being called up to the hatemongering big leagues) spoke of a coming civil war. The GOP Gladio (the reference is to a famous fascist WW II stay behind operation) will be led by get this – “bubba” militias aka the dregs of WASP society out to get some payback against that Commie, Muslim ‘nigger’ in the White House, armed to the teeth and jacked up on a mixture of Jesus juice, horny goat weed and home brewed methamphetamine. The really slick and Rovian shrewdness of this dastardly black propaganda operation is the intent to fragment the growing resistance movement by attempting to peel off the anti-imperialist, anti-globalist, anti-Federal Reserve types that have most recently found a haven in the Ron Paul libertarian camp. The same sort of folks that Herr Beck had previously decried as kooks, dangerous extremists, terrorist sympathizers and anarchists back when the Bushreich was still in power.
Now Beck, the cheapjack opportunist that he is sees a golden opportunity to appease his war-freak masters and catapult the already bloated, putrescent and rotting carcass of Rush Limbaugh into a primo position as field marshal of the angry white army. It’s like the copy machine salesman turned conqueror General Bethlehem in the movie The Postman only with the moon-faced one being the fucking lunatic in this one. Beck has designs on grabbing a ride on the gravy train of think tank subsidized fascism with his national cable soapbox being the perch from which he can deliver his strident and inflammatory rhetoric and seduce the ignorant fucking bastards who are too goddamned dumb to realize WHO has really fucked them over into joining his dead-ender, zombie remnants of the armies of 16, all that remains of Republican power after a three and a half year train wreck that began at Terri Schiavo’s hospice, spilled over into a seedy hotel where Pastor Ted was smoking dicks, took a turn for the worst in the horrendous national fuckup that was the Bush administration’s response to Hurricane Katrina, stalled further when Satan finally had an opening spot to call Jerry Falwell’s fat ass home and was splattered across the deflector shields with the insane, paranoid babbling of Mr. 9/11 Rudy Giuliani, the somnolent Fred Thompson and the disastrously botched McCain-Palin campaign.
The opportunity is there for a new face, and the jackboots are a very good fit on Beck, Rush is about ready to pick up his golden briefcase and spend the rest of his years stalking child prostitutes in the Dominican Republic and feeding his Oxycontin jones – the facists have grabbed that big fucker by his man tits and milked him dry. Glenn Beck is the future.
FOX’s War Games project has in addition to Beck recruited a veritable rogues gallery of racists, operatives and military industrial complex information warriors like the ‘former’ CIA agent and Osama bin Laden groupie Michael ‘kill ‘em all’Scheuer, on call Pentagon pimp Tim Strong and a gaggle of other so-called ‘experts’ who wear their fascism on their sleeves. Fox also cannily offers airtime to Congressman Paul along with trends forecasting guru and self proclaimed “political atheist” Gerald Celente (who I happen to be a big fan of) in order to launder their disinfo through a cheesecloth thin guise of semi-legitimacy. Make no mistake though, these people are the modern day heirs to the same fascist traitors who once tried to overthrow Roosevelt by recruiting former Marine Corps General Smedley D. Butler to lead a coup d’etat (known as the Business Plot) against the legitimately elected government of the United States. Butler, a loyal American played coy, gathered intel and then ratted those disloyal scum out as the enemies within that they were then and their legacy remains to this day.
Glenn Beck is nothing more than a descendant to the sort of fascist pocket propagandist of which the prototype was a vicious demagogue named Father Charles Coughlin who was bought off during an economic crisis to foment violence, support the system of exploitation and lead an angry army that in all likelihood included the grandfathers and great-grandfathers of the modern day dittoheads. Now as history repeats itself in a slightly different manner as it is wont to do the economic royalists are using the same old methodology in the creation of a counter-progressive movement loyal to the oligarchy and the forces of American fascism. I excerpt the following from a 1939 pamphlet by Joseph Hansen –Father Coughlin: Fascist Demagogue:
Fascism is a combination of two things.
First, it is a wide mass movement of farmers and small businessmen who face bankruptcy, of youth denied a future under capitalism, of sections of the unemployed. All these layers of the oppressed who are seeking desperately to put their hands on the surrounding plenty become hypnotized by the silver-plated promises of a demagogue who regiments them into blindly obedient shock troops.
Secondly, it is financed and controlled by the very capitalists who above all are anxious to keep the revolutionary violence of the masses from turning against them. In America – the DuPonts, the Morgans, the Rockefellers – the Sixty Families.
To the rank and file followers of fascism, at first it seems a genuine revolutionary way out of their misery. They discover the truth too late.
The capitalists provide the money. The dictator provides the powerful slogans, the stirring names, the demagogic program, the organization, the lieutenants and the oratory.
That the fascist Republican rat-fuckers are unified in opposing the reforms of President Barack Obama, a man whose chief shortcoming is in failing to as yet realize the doomed naïve futility of a bi-partisan peace with those whose goal is the further destruction of the American working classes is likely to make him a one term wonder – if that long given the recent uptick in racism and violent threats coming from the extreme right. Charisma will only take a man so far as John F. Kennedy so brutally learned as a large chunk of his skull was blown off by the bullets of assassins, especially true when facing a relentless and driven enemy, a monolithic and ruthless conspiracy of fascist fifth columnists. The goal of the Republican neo-Nazis is nothing other than an aborted or otherwise botched Obama presidency which will then give way to a resurgence of their new dictator, this time they won’t choose a fool like George W. Bush and the full powers of a police state that the star-crossed Democrats are failing to dismantle at his or her disposal with which to utilize in a god-kissed, flag-wrapped version of a final solution. The deranged apple pie authoritarians are now plotting their resurrection, the failure to act now and with an iron will to destroy them will only result in a misery and suffering unheard of in this once great land of plenty.
The dupes who are recruited as shocktroops are always the last ones to get it and with these dopes it will be no different, they won’t realize that they have been played until they are broken and eventually targeted by those who had used them for being too dangerous – permanent revolution is not what the fascist pricks are looking for and these useful idiots will be expendable as history shows that they always have been. With reliable fascist tools like Beck and FOX revving up the shock troops, Admiral Blair openly musing about using the military in putting down the rabble and the job losses mounting could it be long before the four flushing looter capitalist oligarchs who run this shithouse put two and two together and realize that dissidents could be very easily converted into Sweeney Todd meat pies? Hell, the prototype for a pilot program already exists in China, the land of goons where greedy and amoral transnational corporations go to beta test their products for the day that they will be rolled out in Der Heimat. The gruesome and macabre Death Van story comes to mind, could it be long before these are painted up in red, white and blue, affixed with a big yellow smiley face and sent to pick YOU up?
IV: Revolutionary Moi
When the shit really doe shit the fan you can count me in with the folks who are smarter than the ones who are duped by the tinpot despots, their drooling demagogues and the ‘bubba’ militias who will be out there targeting libruls as the new Juden. Hell, bring the cocksuckers on, they will get a twelve-gauge enema form me and many others who are not too stupid to be suckered by the rulers of chumpland. Count me in with the people who pumped their fists in the air over Bill Maher’s ‘joke’ about killing two bankers. But as a sworn enemy of tyranny, fascist oppression and the looting bastard parasites that Thomas Jefferson warned of:
“If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”
And I might say…why only two?
Were George Washington, Jefferson and the rest of the revolutionary patriots who founded this country in casting off the yoke of slavery of the king and his paper merchants still around there wouldn’t be enough lampposts and trees to hang these fuckers from. Hell, let’s have a full-blown, storm the Bastille French style REVOLUTION!! Eat the rich, roll out the guillotines and let the fun begin. We can even ‘invite’ Glenn Beck, Rick Santelli and the other fascist stooges to help with the testing process. I mean, don’t we want to get the guillotine settings just right in regards to calibrating the blade drop for maximum efficiency before we get to the filthy looters themselves? Shit, why not ‘invite’ ALL of the mouthpieces for the four-flushing bastards who have destroyed this country and now are trying to implement their police state to ‘blow the roof’ while they slither off to Dubai or some other refuge with no extradition treaty? They hanged Julius Steicher at Nuremberg didn’t they? Did he really ever personally kill any Jews or did his propaganda rag Der Stürmer only make him an accomplice to the mass murders? Shit, Charles Manson killed fewer people than George W. Bush and one is on spending his fourth decade on death row while the other is already racking up future appearances on the speaking circuit.
What the fuck?
I will close now with this, I am not exactly sure of where exactly where it came from but I really like it:
There are four boxes to be used in defense of liberty:
Please Use in that order
(editor’s note, be sure to stockpile #4)
This is a revolution call, a call to arms and the scourging of the fascists, the conniving banksters and the oligarchy that has declared war on US, the American people. Heed this call and we can reclaim our legacy as a free people as well as our cherished birthright –
By Ed Encho