Permanent Crisis: Why Euro Zone Country Bailouts are the New "Song That Never Ends"
..................................via Andy Suttton at My Two Cents
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A Power Elite rules the world’s state, military, corporate and banking systems. Mostly, they are not emblematic citizens; their high positions are not a result of moral virtue; their lofty wealth is not a result of creditable ability. They are selected and formed by the means of power, the sources of wealth and the mechanics of celebrity which prevail world society. Commanders of power unequaled in human history, they have wrongly succeeded through their own system of organized irresponsibility.
Blogroll: The Very Best of the Best
- the darkcloud
- Learning and keeping abreast of the complexities of global finance and economics. Credit for my blog goes to the Economic Collapse of 2008, when I realized myself and the masses were much too uninformed and much too vulnerable; Credit for my blog description belongs to C. Wright Mills' book, " The Power Elite", circa 1956; and finally, Credit for my blog's title goes to the Queen of My Life, who belovedly nicknamed me, "Darkcloud".
Endgame?
derivatives: shadow banking's private supercurrency?
"derivatives: the crystal meth of finance"
"the four scenarios - debt deflation, hyperinflation, quadrillion play and muddle through "
will this allow "the powers that be" to hyperinflate (grow) their own wealth while crushing the real economies of the world? will "tptb" then buy up the world's tangible assets with all the super paper? will we get robbed and a one-world government all in one fell swoop? (submitted by andy s.)
think global - global banana republic? - dc
"derivatives: the crystal meth of finance"
"the four scenarios - debt deflation, hyperinflation, quadrillion play and muddle through "
will this allow "the powers that be" to hyperinflate (grow) their own wealth while crushing the real economies of the world? will "tptb" then buy up the world's tangible assets with all the super paper? will we get robbed and a one-world government all in one fell swoop? (submitted by andy s.)
think global - global banana republic? - dc
WTH Happened? (imho) (established june 2008)
circa 1980's: supply side economics, trickle down economics, deficits create a string of credit-based economy bubbles; union busting; start of self-retirement plans invested & lost in the stock market; tax cuts for the rich.
circa 1990's/2000's: 12 years of minimum wage freeze; corporate and government leaders revolving door (political/economic "incest"); the end of glass-steagall; greenspan's/bernanke's terminal market manipulations; special high-leverage ratios for the now-extinct top five investment banks; the resultant real estate bubble & mortgage fraud; bank & credit card protection laws disallowing consumer default; "off-balance sheet" assets (gross oxymoron); over a quadrillion (1 thousand trillion) dollars in derivatives; trillions in credit default "swaps" (a.k.a. unregulated insurance); offshore tax havens; suspension of mark-to-market accounting rules for assets ; billions in excessive corporate compensation and bonuses (in conjunction with billions in losses on concurrent corporate income statements (& government (i.e. taxpayer) injections of capital). the trickle-down wealth "contract with america" ends as unregulated, fraudulent, gluttonous greed and a tsunami of trickle-up wealth for banks and investors, who then get shielded from reality and correlating losses by taxpayer bailouts.
circa obama - bizarro depression?: "back to the '30's". generations of american commoner taxpayers get the painful bill for the greatest unconscionable, fraudulent, unaccountable transfer of wealth in history. this time, will massive government injections preclude the depression?
why did history repeat itself? the inexperience, memory loss and passing of generations twice in recent american history a unique long-event has occurred. the first time was 1917-1931 (14 years). we all know how badly that time period ended. the long-event did not occur again...until 1995-2006 (12 years). and it's ending badly this time too - continually getting worse and worse. the long-event? during both aforementioned periods - and never anywhere for so long in between - both houses of america's congress (the senate and house of representatives) were in the control of…
...the republican party. if the previous statement did not feel like a kick in the gut, please reread it until it does - it will. add a republican-friendly white house (1921-1933) and (2001-2006) resulting in democrat helplessness and say…hello disaster. twice now. facts support this (former-republican) blogger's theory. do your research. the rethuglican party is to blame for america’s financial and economic ruination (twice now).
but wait - help is on the way - or not!: enter the democrats and "hope and change". bye-bye neocons. so who's being helped now? banksters and investors - the same people? ah, the business/governmennt revolving door. hello neolibs. america's new emperor wears the same clothes as america's old emperor. turns out we just get continued financial irresponsility. well, we had to oust the rethugs and give the the dems a try, right? left-wing, right-wing - - it's all the same bird. (thanks, Paul).
now we all know,
now we all know,
the power elite runs the show.
- - updated May, 2010
circa 1990's/2000's: 12 years of minimum wage freeze; corporate and government leaders revolving door (political/economic "incest"); the end of glass-steagall; greenspan's/bernanke's terminal market manipulations; special high-leverage ratios for the now-extinct top five investment banks; the resultant real estate bubble & mortgage fraud; bank & credit card protection laws disallowing consumer default; "off-balance sheet" assets (gross oxymoron); over a quadrillion (1 thousand trillion) dollars in derivatives; trillions in credit default "swaps" (a.k.a. unregulated insurance); offshore tax havens; suspension of mark-to-market accounting rules for assets ; billions in excessive corporate compensation and bonuses (in conjunction with billions in losses on concurrent corporate income statements (& government (i.e. taxpayer) injections of capital). the trickle-down wealth "contract with america" ends as unregulated, fraudulent, gluttonous greed and a tsunami of trickle-up wealth for banks and investors, who then get shielded from reality and correlating losses by taxpayer bailouts.
circa obama - bizarro depression?: "back to the '30's". generations of american commoner taxpayers get the painful bill for the greatest unconscionable, fraudulent, unaccountable transfer of wealth in history. this time, will massive government injections preclude the depression?
why did history repeat itself? the inexperience, memory loss and passing of generations twice in recent american history a unique long-event has occurred. the first time was 1917-1931 (14 years). we all know how badly that time period ended. the long-event did not occur again...until 1995-2006 (12 years). and it's ending badly this time too - continually getting worse and worse. the long-event? during both aforementioned periods - and never anywhere for so long in between - both houses of america's congress (the senate and house of representatives) were in the control of…
...the republican party. if the previous statement did not feel like a kick in the gut, please reread it until it does - it will. add a republican-friendly white house (1921-1933) and (2001-2006) resulting in democrat helplessness and say…hello disaster. twice now. facts support this (former-republican) blogger's theory. do your research. the rethuglican party is to blame for america’s financial and economic ruination (twice now).
but wait - help is on the way - or not!: enter the democrats and "hope and change". bye-bye neocons. so who's being helped now? banksters and investors - the same people? ah, the business/governmennt revolving door. hello neolibs. america's new emperor wears the same clothes as america's old emperor. turns out we just get continued financial irresponsility. well, we had to oust the rethugs and give the the dems a try, right? left-wing, right-wing - - it's all the same bird. (thanks, Paul).
now we all know,
now we all know,
the power elite runs the show.
- - updated May, 2010
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