NYPD directive: protect bull market

Charging Bull of Bowling Green Station, NYCOn eve of threatened activist occupation of Wall Street, NYPD has erected barricades around the stock market’s Golden Calf. Yes it’s bronze, yes it has horns, and to the banksters it’s no false idol.

Adbusters says: let US Days Of Rage begin Sept 17, Occupy Wall Street!

US Days of Rage, Occupy Wall Street, September 17, 2011, New York CityIT’S ON. Street kitchens are set to roll into place September 17, one week after New York City observes its remembrance of the still suspiciously inexplicable, commercially branded, “9/11” foundational myth to launch the Global War On Terror, dose of public trauma to ease final steps of Capitalist Shock Doctrine. Yes, #OccupyWallStreet is being called on a Saturday, when the stock market is closed, the better to be encamped when the bell rings on Monday morning. Is it too late to protest the New World Disorder? We’ll know #Sept17.

News of the World crimes belong to Rupert Murdoch, News Corp, Fox News, Dow Jones and the Wall Street Journal

The issue of Rupert Murdoch’s lawless news empire isn’t about phone hacking to break news, it’s about surveillance used for the same purposes as intelligence agencies, to control political climates, to effect outcomes based on what you have on the players. Does the FBI have to find evidence of malfeasance in the US to make Murdoch any less guilty? The important point to make is that News Of The World, is News Corp, is Rupert Murdoch, is News International, is Fox, is Dow Jones, is the Wall Street Journal. With the WSJ, Murdoch’s sway over the stock market may mean he dictates the editorial voice of all corporate media properties. Anyway, who can pretend the corporate kleptocracy isn’t a shared agenda? Murdoch may be just one rotten apple, but now everyone can see how rotten. Here’s a chance to wash him out.

If the ‘Left’ is serious about doing something credible to counteract the capitalist class, now is the time. Do the work of informing the public on how News Corp has been twisting the truth not just to sell papers and floor wax, but to promote an agenda of limitless greed at the expense of working and poor people. In reality, Rupert Murdoch is just one cog in a very large propaganda machine, but he is a significant dynamic that binds the corporatists and political right-wing together. Telling the plain truth about Murdoch at this time is the best weapon progressives have at their disposal.

The Angry Indian

Joe Stack’s Piper Cherokee Manifesto

Joe Stack’s Piper Cherokee Manifesto

Single Engine AircraftIt’s getting so you can’t fly a plane into a federal office building and hope somebody will finally find your website. Though engineer Joseph Stack left an online statement to explain his last act of desperation against the IRS, it was deleted “in compliance with a request from the FBI.” I guess his web hosts think the 1st Amendment has an FBI exemption. Even Google’s cache was expunged. This has freed Reporters to characterize Stack’s missive as a crazed rant. Nothing threatens the establishment like this conclusion: “Sadly, though I spent my entire life trying to believe it wasn’t so, … violence … is the only answer. The cruel joke is that [those] at the top have known this all along and have been laughing, at … fools like me all along.” I don’t know about you, but when I hear that a self-made engineer-businessman who has his own plane, commits suicide on principles he has articulated in a manifesto, I’m curious to hear him out.

I’m reminded of the sad story of the desperate antiwar activist who set himself on fire as a final protest of the escalating wars in Iraq and Afghanistan. He knew accomplices would only dissuade him, so he chose an isolated spot where he could proceed unmolested and set up a video camera to record the act. Naturally, policemen were the first to encounter his body and thus the footage of dramatic statement are consigned to the obscurity of their files.

single engine airplaneFortunately the internet is still too porous for redaction on the grounds of national security, or whatever reason the FBI contrived to censor Stack’s suicide note/screed/diatribe. The Smoking Gun has the usual non-text scans of what Joseph Stack wrote before he piloted his single-engine Piper PA-28 into the Austin TX IRS office. Here’s the full text of Stack’s manifesto.

If you’re reading this, you’re no doubt asking yourself, “Why did this have to happen?”  The simple truth is that it is complicated and has been coming for a long time.  The writing process, started many months ago, was intended to be therapy in the face of the looming realization that there isn’t enough therapy in the world that can fix what is really broken.  Needless to say, this rant could fill volumes with example after example if I would let it.  I find the process of writing it frustrating, tedious, and probably pointless… especially given my gross inability to gracefully articulate my thoughts in light of the storm raging in my head.  Exactly what is therapeutic about that I’m not sure, but desperate times call for desperate measures.

We are all taught as children that without laws there would be no society, only anarchy.  Sadly, starting at early ages we in this country have been brainwashed to believe that, in return for our dedication and service, our government stands for justice for all.  We are further brainwashed to believe that there is freedom in this place, and that we should be ready to lay our lives down for the noble principles represented by its founding fathers.  Remember? One of these was “no taxation without representation”.  I have spent the total years of my adulthood unlearning that crap from only a few years of my childhood.  These days anyone who really stands up for that principle is promptly labeled a “crackpot”, traitor and worse.

While very few working people would say they haven’t had their fair share of taxes (as can I), in my lifetime I can say with a great degree of certainty that there has never been a politician cast a vote on any matter with the likes of me or my interests in mind.  Nor, for that matter, are they the least bit interested in me or anything I have to say.

Why is it that a handful of thugs and plunderers can commit unthinkable atrocities (and in the case of the GM executives, for scores of years) and when it’s time for their gravy train to crash under the weight of their gluttony and overwhelming stupidity, the force of the full federal government has no difficulty coming to their aid within days if not hours?  Yet at the same time, the joke we call the American medical system, including the drug and insurance companies, are murdering tens of thousands of people a year and stealing from the corpses and victims they cripple, and this country’s leaders don’t see this as important as bailing out a few of their vile, rich cronies.  Yet, the political “representatives” (thieves, liars, and self-serving scumbags is far more accurate) have endless time to sit around for year after year and debate the state of the “terrible health care problem”.  It’s clear they see no crisis as long as the dead people don’t get in the way of their corporate profits rolling in.

And justice? You’ve got to be kidding!

How can any rational individual explain that white elephant conundrum in the middle of our tax system and, indeed, our entire legal system?  Here we have a system that is, by far, too complicated for the brightest of the master scholars to understand.  Yet, it mercilessly “holds accountable” its victims, claiming that they’re responsible for fully complying with laws not even the experts understand.  The law “requires” a signature on the bottom of a tax filing; yet no one can say truthfully that they understand what they are signing; if that’s not “duress” than what is.  If this is not the measure of a totalitarian regime, nothing is.

How did I get here?

My introduction to the real American nightmare starts back in the early ‘80s.  Unfortunately after more than 16 years of school, somewhere along the line I picked up the absurd, pompous notion that I could read and understand plain English.  Some friends introduced me to a group of people who were having ‘tax code’ readings and discussions.  In particular, zeroed in on a section relating to the wonderful “exemptions” that make institutions like the vulgar, corrupt Catholic Church so incredibly wealthy.  We carefully studied the law (with the help of some of the “best”, high-paid, experienced tax lawyers in the business), and then began to do exactly what the “big boys” were doing (except that we weren’t stealing from our congregation or lying to the government about our massive profits in the name of God).  We took a great deal of care to make it all visible, following all of the rules, exactly the way the law said it was to be done.

The intent of this exercise and our efforts was to bring about a much-needed re-evaluation of the laws that allow the monsters of organized religion to make such a mockery of people who earn an honest living.  However, this is where I learned that there are two “interpretations” for every law; one for the very rich, and one for the rest of us… Oh, and the monsters are the very ones making and enforcing the laws; the inquisition is still alive and well today in this country.

That little lesson in patriotism cost me $40,000+, 10 years of my life, and set my retirement plans back to 0.  It made me realize for the first time that I live in a country with an ideology that is based on a total and complete lie.  It also made me realize, not only how naive I had been, but also the incredible stupidity of the American public; that they buy, hook, line, and sinker, the crap about their “freedom”… and that they continue to do so with eyes closed in the face of overwhelming evidence and all that keeps happening in front of them.

Before even having to make a shaky recovery from the sting of the first lesson on what justice really means in this country (around 1984 after making my way through engineering school and still another five years of “paying my dues”), I felt I finally had to take a chance of launching my dream of becoming an independent engineer.

On the subjects of engineers and dreams of independence, I should digress somewhat to say that I’m sure that I inherited the fascination for creative problem solving from my father.  I realized this at a very young age.

The significance of independence, however, came much later during my early years of college; at the age of 18 or 19 when I was living on my own as student in an apartment in Harrisburg, Pennsylvania.  My neighbor was an elderly retired woman (80+ seemed ancient to me at that age) who was the widowed wife of a retired steel worker.  Her husband had worked all his life in the steel mills of central Pennsylvania with promises from big business and the union that, for his 30 years of service, he would have a pension and medical care to look forward to in his retirement.  Instead he was one of the thousands who got nothing because the incompetent mill management and corrupt union (not to mention the government) raided their pension funds and stole their retirement.  All she had was social security to live on.

In retrospect, the situation was laughable because here I was living on peanut butter and bread (or Ritz crackers when I could afford to splurge) for months at a time.  When I got to know this poor figure and heard her story I felt worse for her plight than for my own (I, after all, I thought I had everything to in front of me).  I was genuinely appalled at one point, as we exchanged stories and commiserated with each other over our situations, when she in her grandmotherly fashion tried to convince me that I would be “healthier” eating cat food (like her) rather than trying to get all my substance from peanut butter and bread.  I couldn’t quite go there, but the impression was made.  I decided that I didn’t trust big business to take care of me, and that I would take responsibility for my own future and myself.

Return to the early ‘80s, and here I was off to a terrifying start as a ‘wet-behind-the-ears’ contract software engineer… and two years later, thanks to the fine backroom, midnight effort by the sleazy executives of Arthur Andersen (the very same folks who later brought us Enron and other such calamities) and an equally sleazy New York Senator (Patrick Moynihan), we saw the passage of 1986 tax reform act with its section 1706.

For you who are unfamiliar, here is the core text of the IRS Section 1706, defining the treatment of workers (such as contract engineers) for tax purposes. Visit this link for a conference committee report (http://www.synergistech.com/1706.shtml#ConferenceCommitteeReport) regarding the intended interpretation of Section 1706 and the relevant parts of Section 530, as amended. For information on how these laws affect technical services workers and their clients, read our discussion here (http://www.synergistech.com/ic-taxlaw.shtml).

SEC. 1706. TREATMENT OF CERTAIN TECHNICAL PERSONNEL.

(a) IN GENERAL – Section 530 of the Revenue Act of 1978 is amended by adding at the end thereof the following new subsection:

(d) EXCEPTION. – This section shall not apply in the case of an individual who pursuant to an arrangement between the taxpayer and another person, provides services for such other person as an engineer, designer, drafter, computer programmer, systems analyst, or other similarly skilled worker engaged in a similar line of work.

(b) EFFECTIVE DATE. – The amendment made by this section shall apply to remuneration paid and services rendered after December 31, 1986.

Note:

·      “another person” is the client in the traditional job-shop relationship.

·      “taxpayer” is the recruiter, broker, agency, or job shop.

·      “individual”, “employee”, or “worker” is you.

Admittedly, you need to read the treatment to understand what it is saying but it’s not very complicated.  The bottom line is that they may as well have put my name right in the text of section (d).  Moreover, they could only have been more blunt if they would have came out and directly declared me a criminal and non-citizen slave.  Twenty years later, I still can’t believe my eyes.

During 1987, I spent close to $5000 of my ‘pocket change’, and at least 1000 hours of my time writing, printing, and mailing to any senator, congressman, governor, or slug that might listen; none did, and they universally treated me as if I was wasting their time.  I spent countless hours on the L.A. freeways driving to meetings and any and all of the disorganized professional groups who were attempting to mount a campaign against this atrocity.  This, only to discover that our efforts were being easily derailed by a few moles from the brokers who were just beginning to enjoy the windfall from the new declaration of their “freedom”.  Oh, and don’t forget, for all of the time I was spending on this, I was loosing income that I couldn’t bill clients.

After months of struggling it had clearly gotten to be a futile exercise.  The best we could get for all of our trouble is a pronouncement from an IRS mouthpiece that they weren’t going to enforce that provision (read harass engineers and scientists).  This immediately proved to be a lie, and the mere existence of the regulation began to have its impact on my bottom line; this, of course, was the intended effect.

Again, rewind my retirement plans back to 0 and shift them into idle.  If I had any sense, I clearly should have left abandoned engineering and never looked back.

Instead I got busy working 100-hour workweeks.  Then came the L.A. depression of the early 1990s.  Our leaders decided that they didn’t need the all of those extra Air Force bases they had in Southern California, so they were closed; just like that.  The result was economic devastation in the region that rivaled the widely publicized Texas S&L fiasco.  However, because the government caused it, no one gave a shit about all of the young families who lost their homes or street after street of boarded up houses abandoned to the wealthy loan companies who received government funds to “shore up” their windfall.  Again, I lost my retirement.

Years later, after weathering a divorce and the constant struggle trying to build some momentum with my business, I find myself once again beginning to finally pick up some speed.  Then came the .COM bust and the 911 nightmare.  Our leaders decided that all aircraft were grounded for what seemed like an eternity; and long after that, ‘special’ facilities like San Francisco were on security alert for months.  This made access to my customers prohibitively expensive.  Ironically, after what they had done the Government came to the aid of the airlines with billions of our tax dollars … as usual they left me to rot and die while they bailed out their rich, incompetent cronies WITH MY MONEY!  After these events, there went my business but not quite yet all of my retirement and savings.

By this time, I’m thinking that it might be good for a change.  Bye to California, I’ll try Austin for a while.  So I moved, only to find out that this is a place with a highly inflated sense of self-importance and where damn little real engineering work is done.  I’ve never experienced such a hard time finding work.  The rates are 1/3 of what I was earning before the crash, because pay rates here are fixed by the three or four large companies in the area who are in collusion to drive down prices and wages… and this happens because the justice department is all on the take and doesn’t give a fuck about serving anyone or anything but themselves and their rich buddies.

To survive, I was forced to cannibalize my savings and retirement, the last of which was a small IRA.  This came in a year with mammoth expenses and not a single dollar of income.  I filed no return that year thinking that because I didn’t have any income there was no need.  The sleazy government decided that they disagreed.  But they didn’t notify me in time for me to launch a legal objection so when I attempted to get a protest filed with the court I was told I was no longer entitled to due process because the time to file ran out.  Bend over for another $10,000 helping of justice.

So now we come to the present.  After my experience with the CPA world, following the business crash I swore that I’d never enter another accountant’s office again.  But here I am with a new marriage and a boatload of undocumented income, not to mention an expensive new business asset, a piano, which I had no idea how to handle.  After considerable thought I decided that it would be irresponsible NOT to get professional help; a very big mistake.

When we received the forms back I was very optimistic that they were in order.  I had taken all of the years information to Bill Ross, and he came back with results very similar to what I was expecting.  Except that he had neglected to include the contents of Sheryl’s unreported income; $12,700 worth of it. To make matters worse, Ross knew all along this was missing and I didn’t have a clue until he pointed it out in the middle of the audit.  By that time it had become brutally evident that he was representing himself and not me.

This left me stuck in the middle of this disaster trying to defend transactions that have no relationship to anything tax-related (at least the tax-related transactions were poorly documented).  Things I never knew anything about and things my wife had no clue would ever matter to anyone.  The end result is… well, just look around.

I remember reading about the stock market crash before the “great” depression and how there were wealthy bankers and businessmen jumping out of windows when they realized they screwed up and lost everything.  Isn’t it ironic how far we’ve come in 60 years in this country that they now know how to fix that little economic problem; they just steal from the middle class (who doesn’t have any say in it, elections are a joke) to cover their asses and it’s “business-as-usual”.  Now when the wealthy fuck up, the poor get to die for the mistakes… isn’t that a clever, tidy solution.

As government agencies go, the FAA is often justifiably referred to as a tombstone agency, though they are hardly alone.  The recent presidential puppet GW Bush and his cronies in their eight years certainly reinforced for all of us that this criticism rings equally true for all of the government.  Nothing changes unless there is a body count (unless it is in the interest of the wealthy sows at the government trough).  In a government full of hypocrites from top to bottom, life is as cheap as their lies and their self-serving laws.

I know I’m hardly the first one to decide I have had all I can stand.  It has always been a myth that people have stopped dying for their freedom in this country, and it isn’t limited to the blacks, and poor immigrants.  I know there have been countless before me and there are sure to be as many after.  But I also know that by not adding my body to the count, I ensure nothing will change.  I choose to not keep looking over my shoulder at “big brother” while he strips my carcass, I choose not to ignore what is going on all around me, I choose not to pretend that business as usual won’t continue; I have just had enough.

I can only hope that the numbers quickly get too big to be white-washed and ignored that the American zombies wake up and revolt; it will take nothing less.  I would only hope that by striking a nerve that stimulates the inevitable double standard, knee-jerk government reaction that results in more stupid draconian restrictions people wake up and begin to see the pompous political thugs and their mindless minions for what they are.  Sadly, though I spent my entire life trying to believe it wasn’t so, but violence not only is the answer, it is the only answer.  The cruel joke is that the really big chunks of shit at the top have known this all along and have been laughing, at and using this awareness against, fools like me all along.

I saw it written once that the definition of insanity is repeating the same process over and over and expecting the outcome to suddenly be different.  I am finally ready to stop this insanity.  Well, Mr. Big Brother IRS man, let’s try something different; take my pound of flesh and sleep well.

The communist creed: From each according to his ability, to each according to his need.

The capitalist creed: From each according to his gullibility, to each according to his greed.

Joe Stack (1956-2010)

02/18/2010

Leave it to pirates to run honest bourse

Leave it to pirates to run honest bourse

rocket propelled grenade RPG-22With investment bankers trying to weasel another broker’s percentage from a carbon-credit trading system, comes a living example of rudimentary venture capitalism. In Haradheere, Somalia, there’s a stock market for pirates, by comparison, something benefiting all participants.

The pirate’s market is no middleman’s monopoly. It works just like the collectives of investors who floated Britain’s privateers and the Dutch East Indies Trading Companies, just two examples of crown-sanctioned adventure-mercenary conquerors. Had you wondered why the definition of “float” includes the economies participant to navigational buoyancy?

Got a boat, a weapon, a tip on an incoming treasure galleon? Invest the pirates with your contribution and reap a stake in the rewards. Every successive stock market since the formative times, from commodities, to insurance, to futures, etc, have well surpassed the illegitimacy and immorality of the seafaring pirate variety.

Sang the Pirate King in The Pirates of Penzance: Away to the cheating world go you, Where pirates all are well-to-do.

While the corporate media decries the savagery of the lawless Somali coastal enterprises, sophisticated traders descend upon COP15 to extort a cap-and-trade protection racket from a world desperate to arrest climate change.

The pirate bourse is a reminder of what purpose the stock markets used to play. If you had a money-making idea, and needed investors, that’s where you went. But to describe a business proposal as germinating from an idea, is to peddle platitudes defining entrepreneurship as being about intellectual innovation. In practice, business opportunities chiefly present themselves from licenses obtained from the state, to operate lucrative monopolies. It usually takes the combination of disproportionate profits and manageable risk to interest wealthy investors.

I think I enjoy this Somalia juxtaposition particularly because Wall Street can’t get a piece of the pirate action. Only those with real pirate commodities need apply. And of course, only those financiers brave enough to circulate in a “pirate’s lair” like Haradheere. So the suddenly infamous Dalsan Bank of Haradheere is basically for scrappers and warlords only, and certainly no whites need apply, unless it’s to be ransomed.

Here’s a snippet from yesterday’s Reuters article:

Piracy investor Sahra Ibrahim, a 22-year-old divorcee, was lined up with others waiting for her cut of a ransom pay-out after one of the gangs freed a Spanish tuna fishing vessel.

“I am waiting for my share after I contributed a rocket-propelled grenade for the operation,” she said, adding that she got the weapon from her ex-husband in alimony.

“I am really happy and lucky. I have made $75,000 in only 38 days since I joined the ‘company’.”

If it sounds like a personal testament for a get-rich-quick scheme, it is! But unlike the television infomercials, this bourse is grounded in providing a legitimate function in Somalia.

Note that the ransom from which Ms. Ibrahim expects to profit was paid for the release of a “tuna fishing vessel.” For those who want to judge the pirates like terrorists, the inconvenient characteristic about the Somali pirates is the role they play as coast guard for a national government not up to the task. Somalia’s inability to police its waters means that international boats visit to plunder the fisheries and dump toxic waste. Illegally, obviously. The fishing villages of Somalia suffer the most, and it’s from their workforces that the pirates recruit their expeditions. The pirates arrest the wrongdoers and assess large penalties and criminal fines before the lawbreaking crews are released.

I knew Black Friday, and You Sir, are no Black Friday

I knew Black Friday, and You Sir, are no Black Friday

Robinson Crusoe illustration by OffterdingerIf this year’s “Black Friday” fails to pull retailers out of their red ink, should the dubious protologism retire its presumption to speak for consumer confidence? I think it should. Wasn’t it really just an economist’s “for the Gipper” meme –putting the solvency of the market on the shoulders of Christmas shoppers, rallying them to pull the economy into the black, regardless if it meant spending themselves into the red? I hate it when emotion-charged phrases are usurped by pretenders. Hiroshima was “Ground Zero” before the WTC, the “Homeland” was Nazi Germany, and “Black Friday” was Robinson Crusoe’s, well, Man Friday.

“Black Friday” in general has represented whichever awful event befell that day of the week of recent memory. It may be a wonderful anti-racism step to appoint a rare positive attribution to the word “black,” but I object to its use here to exacerbate affluenza, targeted against the best efforts of sustainability educators to reframe the day-after-Thanksgiving as Buy Nothing Day. If you are a booster for consumerism, black is an accounting concept meaning profitability. But how disingenuous to expect that those outside the balance sheet should share the enthusiasm. For example, it’s not everyone’s Good Friday just because Notre Dame wins that day. Good Friday, by the way, is also called Black Friday, as is any Friday that falls on the 13th.

Below I will list history’s Black Fridays, lest nocturnal Wikipedia cobbler elves continue their PR visits to bolster the retailer claim to the term. According to “Wikipedia” the earliest citation for a shopper’s “Black Friday” is 1966. But in actuality, the expression came from Philadelphia bus drivers and policemen referring to the traffic congestion created at their city center on the busiest shopping day of the year. But Philadelphia retailers objected to the negative connotation. Perhaps as a result, the “black ink” angle surfaces, attributed to a store clerk, offering a more upbeat, chamber-of-commerce-friendly spin. Hmm.

Many people think Black Friday recalls the Stock Market Crash of 1929. It does, and they’re right to be confused about which day of the week it was in particular, because the first day of the crash became known as Black Thursday, followed by Black Friday, then the next trading days, Black Monday and Black Tuesday.

What other occasions in man’s history have warranted the dark coloration? Let’s begin with Black Sabbath:

Black Saturdays
Sept 10, 1547, disaster for Scottish defenders at Battle of Pinkie Cleugh, Scotland
Aug 6, 1621, Mass hysteria caused by dark stormy night confirming Armageddon arrived with Episcopacy, Scotland
Dec 28, 1929, Massacre of Mau demonstrators by NZ police, Samoa
June 13, 1942, Disastrous UK Battle of Gazala against German Afrika Korps
June 29, 1946, UK Operation Agatha against Zionist terrorists in Palestine
Oct 8, 1962, height of A-bomb scare, Cuban Missile Crisis
Dec 6, 1975, Beirut massacres which started Lebanese Civil War, Lebanon
July 31, 1982, worst road accident in French history, (on annual “Black Saturday” when entire of population takes to the road for vacation)
July 14, 1984, Honk Kong exchange rates fall to all time low
Aug 20, 1988, worst day of Yellowstone Fires
Jan 20, 1990, January Massacre of Azeri demonstrators by Soviet Army, Azerbaijan
Feb 7, 2009, brush fires, Victoria, Australia

Black Sundays
Feb 14, 1926, bush fires, Victoria, Australia
April 14, 1935, “Black Blizzard” over Dust Bowl, the Great Plains of US and Canada
Feb 6, 1938, fatal waves on Bondi Beach, Australia
Nov 8, 1942, Nazi extermination of Jews in Staszow, Poland
June 11, 1944, disastrous Canadian battle against German Panzers, Normandy, France
Sept 24, 1950, sunlight blocked by forest fires, Pennsylvania
Jan 2, 1955, brush fires in Southern Australia
May 2, 1982, Exxon canceled shale oil project in Parachute, Colorado
Nov 24, 1991, extreme right party ascension in Belgium
May 1, 1994, San Marino Grand Prix death of Ayrton Senna
April 26, 1998, DIA inter-terminal subway fails, Denver
Jan 21, 2001, Direct TV purged viewers who were pirating signals
Feb 18, 2001, Datona 500 death of Dale Earnhart
Dec 28, 2008, Detroit Lions finished 0-16

Black Mondays
Easter, 1209, English settlers massacred in Dublin, Ireland
April 14, 1360, Easter misfortune during Hundred Years War
Feb 8, 1886, Pall Mall Riot, London, UK
Dec 10, 1894, Newfoundland bank failure, Canada
Oct 28, 1929, Stock Market Crash, 3rd day of trading
May 27, 1935, US Supreme Court overturns National Recovery Act
Sept 19, 1977, Shutdown of Youngstown, Ohio steel mill
Nov 27, 1978, Assassination of Harvey Milk
Oct 19, 1987, global stock market crash
Oct 8, 1990, Temple Mount Massacre by Israeli IDF, Palestine

Black Tuesdays
Oct 29, 1929, Stock Market Crash
1967, brush fires in Tasmania, Australia
Oct 20, 1987, global stock market crash, because Monday is Tuesday in Australia

Black Wednesdays
Sept 16, 1992, when UK withdrew currency from European Exchange Rate Mechanism, suffering a devaluation of 3.4 billion pounds.
Nov 3, 2004, John Kerry concedes 2004 election immediately after promising to challenge polling irregularities.

Had not the US Stock Exchange been shut down on Tuesday, there would have been a Black Wednesday 1929 as well.

Black Thursdays
Feb 6, 1851, brush fires, Victoria, Australia
Oct 24, 1929, start of US Stock Market Crash
Oct 14, 1943, disastrous US-UK bombing raid over Schweinfurt, Germany
Dec 16, 1943, disastrous UK bombing raid over Berlin, Germany
Aug 24, 1995, Moscow Interbank credit market collapse, Russia
Feb 8, 1998, Black World Wide Web Protest
July 24, 2003, Guatemala City riots, Guatemala

Black Fridays
Sept 24, 1869, collapse of price of gold.
Oct 14, 1881, Eyemouth Disaster, Scotland
Nov 11, 1887, Haymarket hangings of innocent anarchists, Chicago
Nov 18, 1910, Police assault of suffragettes, London, UK
Jan 31, 1919, George Square Riot, during strike for 40hr work week, Glasgow, Scotland
Oct 25, 1929, second day of Stock Market Crash
Jan 13, 1939, bush fires in Victoria, Australia
1940 movie starring Boris Karloff
Sept 18, 1942, Bombing of Dartmouth, Devon, UK
Oct 13, 1944, Disastrous Canadian raid, Battle of the Scheldt, Belgium
Feb 9, 1945, Disastrous UK air raid, Battle of Sunnfjord, Norway
Oct 5, 1945, Hollywood Warner Brothers union riot, led to Taft-Hartley Act
May 5, 1950, Red River Flood, Winnipeg, Manitoba, Canada
Oct 7, 1977, Phillies lost to Dodgers, game 3 of National League series
Sept 8, 1978, Massacre of protesters in Tehran, led to Iranian Revolution
May 31, 1985, US-Canadian Tornado outbreak
July 31, 1987, Edmonton Tornado, Alberta Canada
March 12, 1993 Bombay Bombings
Aug 12, 2004, suppression of protests, Male, Maldives
Sept 30, 2005, Students protesters killed in Meghalaya, India
Oct 3, 2008, EESA Wall Street Bailout
–AND–
Nov 28, 2009, the first day of the Christmas shopping season, when America’s retailers balance sheets are brought out of the red.

It fits right?

Michael Moore CAPITALISM postscript

From Michael Moore: “15 Things Every American Can Do Right Now:”
> Friends, It’s the #1 question I’m constantly asked after people see my movie: “OK — so NOW what can I DO?!” You want something to do? Well, you’ve come to the right place! ‘Cause I got 15 things you and I can do right now to fight back and try to fix this very broken system. Here they are:

FIVE THINGS WE DEMAND THE PRESIDENT AND CONGRESS DO IMMEDIATELY:

1. Declare a moratorium on all home evictions. Not one more family should be thrown out of their home. The banks must adjust their monthly mortgage payments to be in line with what people’s homes are now truly worth — and what they can afford. Also, it must be stated by law: If you lose your job, you cannot be tossed out of your home.

2. Congress must join the civilized world and expand Medicare For All Americans. A single, nonprofit source must run a universal health care system that covers everyone. Medical bills are now the #1 cause of bankruptcies and evictions in this country. Medicare For All will end this misery. The bill to make this happen is called H.R. 3200. You must call AND write your members of Congress and demand its passage, no compromises allowed.

3. Demand publicly-funded elections and a prohibition on elected officials leaving office and becoming lobbyists. Yes, those very members of Congress who solicit and receive millions of dollars from wealthy interests must vote to remove ALL money from our electoral and legislative process. Tell your members of Congress they must support campaign finance bill H.R.1826.

4. Each of the 50 states must create a state-owned public bank like they have in North Dakota. Then congress MUST reinstate all the strict pre-Reagan regulations on all commercial banks, investment firms, insurance companies — and all the other industries that have been savaged by deregulation: Airlines, the food industry, pharmaceutical companies — you name it. If a company’s primary motive to exist is to make a profit, then it needs a set of stringent rules to live by — and the first rule is “Do no harm.” The second rule: The question must always be asked — “Is this for the common good?” (Click here for some info about the state-owned Bank of North Dakota.)

5. Save this fragile planet and declare that all the energy resources above and beneath the ground are owned collectively by all of us. Just like they do it in Sarah Palin’s socialist Alaska. We only have a few decades of oil left. The public must be the owners and landlords of the natural resources and energy that exists within our borders or we will descend further into corporate anarchy. And when it comes to burning fossil fuels to transport ourselves, we must cease using the internal combustion engine and instruct our auto/transportation companies to rehire our skilled workforce and build mass transit (clean buses, light rail, subways, bullet trains, etc.) and new cars that don’t contribute to climate change. (For more on this, here’s a proposal I wrote in December.) Demand that General Motors’ de facto chairman, Barack Obama, issue a JFK man-on-the-moon-style challenge to turn our country into a nation of trains and buses and subways. For Pete’s sake, people, we were the ones who invented (or perfected) these damn things in the first place!!

FIVE THINGS WE CAN DO TO MAKE CONGRESS AND THE PRESIDENT LISTEN TO US:

1. Each of us must get into the daily habit of taking 5 minutes to make four brief calls: One to the President (202-456-1414), one to your Congressperson (202-224-3121) and one to each of your two Senators (202-224-3121). To find out who represents you, click here. Take just one minute on each of these calls to let them know how you expect them to vote on a particular issue. Let them know you will have no hesitation voting for a primary opponent — or even a candidate from another party — if they don’t do our bidding. Trust me, they will listen. If you have another five minutes, click here to send them each an email. And if you really want to drop an anvil on them, send them a snail mail letter!

2. Take over your local Democratic Party. Remember how much fun you had with all those friends and neighbors working together to get Barack Obama elected? YOU DID THE IMPOSSIBLE. It’s time to re-up! Get everyone back together and go to the monthly meeting of your town or county Democratic Party — and become the majority that runs it! There will not be many in attendance and they will either be happy or in shock that you and the Obama Revolution have entered the room looking like you mean business. President Obama’s agenda will never happen without mass grass roots action — and he won’t feel encouraged to do the right thing if no one has his back, whether it’s to stand with him, or push him in the right direction. When you all become the local Democratic Party, send me a photo of the group and I’ll post it on my website.

3. Recruit someone to run for office who can win in your local elections next year — or, better yet, consider running for office yourself! You don’t have to settle for the incumbent who always expects to win. You can be our next representative! Don’t believe it can happen? Check out these examples of regular citizens who got elected: State Senator Deb Simpson, California State Assemblyman Isadore Hall, Tempe, Arizona City Councilman Corey Woods, Wisconsin State Assemblyman Chris Danou, and Washington State Representative Larry Seaquist. The list goes on and on — and you should be on it!

4. Show up. Picket the local branch of a big bank that took the bailout money. Hold vigils and marches. Consider civil disobedience. Those town hall meetings are open to you, too (and there’s more of us than there are of them!). Make some noise, have some fun, get on the local news. Place “Capitalism Did This” signs on empty foreclosed homes, closed down businesses, crumbling schools and infrastructure. (You can download them from my website.)

5. Start your own media. You. Just you (or you and a couple friends). The mainstream media is owned by corporate America and, with few exceptions, it will never tell the whole truth — so you have to do it! Start a blog! Start a website of real local news (here’s an example: The Michigan Messenger). Tweet your friends and use Facebook to let them know what they need to do politically. The daily papers are dying. If you don’t fill that void, who will?

FIVE THINGS WE SHOULD DO TO PROTECT OURSELVES AND OUR LOVED ONES UNTIL WE GET THROUGH THIS MESS:

1. Take your money out of your bank if it took bailout money and place it in a locally-owned bank or, preferably, a credit union.

2. Get rid of all your credit cards but one — the kind where you have to pay up at the end of the month or you lose your card.

3. Do not invest in the stock market. If you have any extra cash, put it away in a savings account or, if you can, pay down on your mortgage so you can own your home as soon as possible. You can also buy very safe government savings bonds or T-bills. Or just buy your mother some flowers.

4. Unionize your workplace so that you and your coworkers have a say in how your business is run. Here’s how to do it (more info here). Nothing is more American than democracy, and democracy shouldn’t be checked at the door when you enter your workplace. Another way to Americanize your workplace is to turn your business into a worker-owned cooperative. You are not a wage slave. You are a free person, and you giving up eight hours of your life every day to someone else is to be properly compensated and respected.

5. Take care of yourself and your family. Sorry to go all Oprah on you, but she’s right: Find a place of peace in your life and make the choice to be around people who are not full of negativity and cynicism. Look for those who nurture and love. Turn off the TV and the Blackberry and go for a 30-minute walk every day. Eat fruits and vegetables and cut down on anything that has sugar, high fructose corn syrup, white flour or too much sodium (salt) in it (and, as Michael Pollan says, “Eat (real) food, not too much, mostly plants”). Get seven hours of sleep each night and take the time to read a book a month. I know this sounds like I’ve turned into your grandma, but, dammit, take a good hard look at Granny — she’s fit, she’s rested and she knows the names of both of her U.S. Senators without having to Google them. We might do well to listen to her. If we don’t put our own “oxygen mask” on first (as they say on the airplane), we will be of no use to the rest of the nation in enacting any of this action plan!

I’m sure there are many other ideas you can come up with on how we can build this movement. Get creative. Think outside the politics-as-usual box. BE SUBVERSIVE! Think of that local action no one else has tried. Behave as if your life depended on it. Be bold! Try doing something with reckless abandon. It may just liberate you and your community and your nation.

Turning the economic corner to what?

economic indicators
The US media is now full of optimistic assurances to ‘We, The People’, that ‘the economy is turning the corner’ and all will be well once again as if that was ever all that much the case! Certainly it has been better though, yet today the US does not, and cannot, operate in isolation from the world downturn of Big Business. So how’s it going elsewhere? Take a look at our friends the British, and you will see just how they are doing? …and it’s not so good.

From the conservative and hallowed British newspaper, the Telegraph, you can read that the British economic collapse rivals Great Depression, and that British output fell 5.6 % over the last year! That’s a -5.6% GDP, so why is the American press so full of bullshit about ‘turning the corner’? A short stock market rally is no turning of any corner, but a negative rate of GDP for the last year is definitely an ominous sign. It will simply take more than positive spin or pep talks to turn any corner yet ahead.

The desire to paint such a big happy face comes about when corporate leadership has no plans to alleviate any misery anywhere these days. If anything, they remain absolutely fixated on spreading more misery through more war, rather than improving the economic welfare of people through PEACE and a productive society run by a productive economy. Capitalism simply is not a productive economy, but rather is merely a route for and elite to get rich off the rest of us and through a looting of Nature. Changing that would be turning a corner but capitalist elites are not going to change The-ir System.

Ground Zero for The Empire’s Collapse- Depository Trust & Clearing Corporation?

DTCCThe Depository Trust & Clearing Corporation or DTCC is possibly Ground Zero for the US Empire’s potential coming economic collapse, because it is the primary and dominant insuring company that guarantees pay outs for those who hold junk stocks, if they go belly up.

‘DTCC’s DTC depository provides custody and asset servicing for 3.5 million securities issues, comprised mostly of stocks and bonds, from the United States and 110 other countries and territories, valued at $40 trillion, more than any other depository in the world. In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value.’ Taken from wikipedia’s DTCC entry

Looking to see who is in charge at DTCC? Nice group of pics, right? Nice people I’m sure… lol… Good patriotic Americans and what all.

The DTCC history show 2 events that pushed this corporate outfit to the head. One was Bill Clinton’s deregulation of securities signed into law in 2000 at the end of his presidency, and the other was 9/11.

9/11 effectively was the death blow to paper securities, and DTCC was right there offering electronic securities instead. Here at DTCC’s site one finds this brief explanation of No More Paper: The Problems with Paper …see below

Q. I have heard that many securities were lost on 9/11. Is that true?

A. Yes, although they were eventually all replaced. Some $16 billion worth of certificates disappeared in the collapse of the World Trade Center towers on 9/11, and it took many months and nearly $300 million in industry costs to replace them. During this period, electronic records were used to ensure the owners of the securities could be identified. Meanwhile, shares held electronically were not harmed at all on 9/11.

OK, that’s nice…. And here, written in 1999 about the Clinton Administration’s proposed financial deregulation of that year that then later allowed the rise of even more speculative securities and the eventual domination of DTCC over the securities market, is the following…

***Threat to financial stability***

The proposed deregulation will increase the degree of monopolization in finance and worsen the position of consumers in relation to creditors. Even more significant is its impact on the overall stability of US and world capitalism. The bill ties the banking system and the insurance industry even more directly to the volatile US stock market, virtually guaranteeing that any significant plunge on Wall Street will have an immediate and catastrophic impact throughout the US financial system.

The Glass-Steagall Act of 1933, which the deregulation bill would repeal, was not adopted to protect consumers, although one of its most celebrated provisions was the establishment of the Federal Deposit Insurance Corporation, which guarantees bank deposits of up to $100,000. The law was enacted during the first 100 days of the Roosevelt administration to rescue a banking system which had collapsed, wiping out the life savings of millions of working people, and threatening to bring the profit system to a complete standstill.

As a recent history of that era notes: “The more than five thousand bank failures between the Crash and the New Deal’s rescue operation in March 1933 wiped out some $7 billion in depositors’ money. Accelerating foreclosures on defaulted home mortgages—150,000 homeowners lost their property in 1930, 200,000 in 1931, 250,000 in 1932—stripped millions of people of both shelter and life savings at a single stroke and menaced the balance sheets of thousands of surviving banks” (David Kennedy, Freedom from Fear, Oxford University Press, 1999, pp. 162-63).

The separation of banking and the stock exchange was ordered in response to revelations of the gross corruption and manipulation of the market by giant banking houses, above all the House of Morgan, which organized huge corporate mergers for its own profit and awarded preferential access to share issues to favored politicians and businessmen. Such insider trading played a major role in the speculative boom which preceded the 1929 crash.

Over the past 20 years the restrictions imposed by Glass-Steagall have been gradually relaxed under pressure from the banks, which sought more profitable outlets for their capital, especially in the booming stock market, and which complained that foreign competitors suffered no such limitations to their financial operations. In 1990 the Federal Reserve Board first permitted a bank (J.P. Morgan) to sell stock through a subsidiary, although stock market operations were limited to 10 percent of the company’s total revenue. In 1996 this ceiling was lifted to 25 percent. Now it will be abolished.

The Wall Street Journal celebrated the agreement to end such restrictions with an editorial declaring that the banks had been unfairly scapegoated for the Great Depression. The headline of one Journal article detailing the impact of the proposed law declared, “Finally, 1929 Begins to Fade.”

This comment underscores the greatest irony in the banking deregulation bill. Legislation first adopted to save American capitalism from the consequences of the 1929 Wall Street Crash is being abolished just at the point where the conditions are emerging for an even greater speculative financial collapse. The enormous volatility in the stock exchange in recent months has been accompanied by repeated warnings that stocks are grossly overvalued, with some computer and Internet stocks selling at prices 100 times earnings or even greater.

And there is a much more recent experience than 1929 to serve as a cautionary tale. A financial deregulation bill was passed in the early 1980s under the Reagan administration, lifting many restrictions on the activities of savings and loan associations, which had previously been limited primarily to the home-loan market. The result was an orgy of speculation, profiteering and outright plundering of assets, culminating in collapse and the biggest financial bailout in US history, costing the federal government more than $500 billion. The repetition of such events in the much larger banking and securities markets would be beyond the scope of any federal bailout.

The complete article published back in 1999 at Clinton, Republicans agree to deregulation of US financial system Almost a totally prophetic article, as it turns out. So now we wait and see if all the government money thrown at these financial pirates…YES, financial pirates…’works’? Will it be capable of floating all this junk held insured by DTCC?

I found this looking for something else. (About Mayor Rivera)

I couldn’t embed it but here’s the link to the video.
 
I was looking for something that came up in the inevitable angry political discussion on the City Bus yesterday.

Actually, nobody was angry with or against each other.

We’re all just a little teensy tiny itty bitty small bit P.O.’d about the “Lower Class” being bought and sold like so many hummm… what’s that Minor Piece in a chess game, you know, the ones that always get sacrificed to save or capture a Chessman of higher rank, oh yeah… Pawns…

But it seems Our Illustrious Mayor has once again applied his own foot to his own mouth…

On the subject of cutting bus routes.

The bus in question is to one of the medical districts.

Which is getting a large percentage of Budgetary axe.

The other parties to the conversation were a retired lady and a lady who makes her living as a Teacher.

The Mayor, allegedly (but, for some strange reason, I believe every syllable of it) His Dis-Honor has made what he thought was an unrecorded remark that he doesn’t really care what bus passengers think because “The only people who ride the bus are bums and alcoholics”

This was supposed to be posted to YouTube after having been caught on a cell-phone camera.

I haven’t found it, YET.

Strangely, I have a lot of confidence that I will, and I don’t doubt for a moment that His Dis-Honor said that, simply because he has a long and rich history of making disparaging remarks about the Lower Classes, who, unlike himself, actually do the Labor that provides the wealth of Our Nation and more directly, his own Portfolio.

AND, about the soldiers who came back with pieces missing, both of body and mind, from the War of Conquest which benefits, directly, His Stock Portfolio.

One of the ladies, the schoolteacher, is blind. I had located the information she wanted on the Bus Route and schedule changes she had tried to ask the bus driver about.

The bus is the one she and the other lady use to go between their homes and, well, Everywhere Else.

I, as usual, was going to a doctor’s appointment.

One of the other bus Route Cancellation, 3 of them in fact, involve getting within a half-mile of Peak Vista Health Care, the El Paso County Health Department, and a Memorial Health Systems facility across Parkside Drive from Peak Vista.

In other words, facilities that serve the Disabled and Poor.

It’s not really a coincidence that those two groups merge at several points.

Also, in an entry into Jonah’s Museum of Spectacularly Bad Ideas, it seems the budget crunch was made an order of magnitude Worse by the reversal of the usual order of the Financial Universe,

Instead of issuing Municipal Bonds and having OTHER PEOPLE invest in the City, the City has been using Our Tax Money to GAMBLE errr… “invest” in the Stock Market, under the tutelage of Our Own Resident Pre-Chimpanzee Douglas Bruce.

The one who makes Les Freres Bush et menages look like Intellectual Giants by comparison.

I wonders, yes I does, if these Parasite Class Heroes bought, with our money, a whole bunch of those Mortgage Notes?

They could sue me for “Definition of Character” and if they win they would get everything I own.

At a net loss of the vast majority of the costs of hauling it away.

I guess they’re used to losing investments anyway.

There is much grumbling among the Working Class to the tune of a Recall Election to unseat these vermin.

As usual, Jonah speaks only for Jonah, but I think we should take that idea and run with it.

the short end of the stick

hazelwood tally stick It was one of the greatest heists in history. The scene? London, 1660. The perpetrator? England’s King Charles the II. The loot? All the gold he could con out of the country’s goldsmiths, bankers and businessmen. The tool?
 
A tally stick.

Tally sticks were a brilliant invention, but they were also insidious as they formed the foundation for the fiat currency systems we still have today. One where the root of a currency’s value is in a promise from a faceless institution, and not in the actual value of an object.

Put into use about a thousand years ago, they were a common sense solution for a young gold-and-goods economy where gold was scarce. By the time of the heist they were used in everyday transactions.

Here is how it worked. When a loan was made, the debt was carved in a standard fashion on the surface of a small (preferably hazelwood) stick, and then the stick was split in half through the center of the carving. The longer end of the IOU was given to the purchaser, and its handle was called the “stock” — the root of the word’s use in today’s markets.

Even a mostly illiterate public could read the amount scratched into the wood, and the stick would only fit perfectly with its original other half. That way, when the debtor returned with the money (or goods) owed, the sticks would be matched and the debt would be “tallied.”

In that fundamental use, they worked perfectly. But of course, as is governments’ way, the King was tempted to stretch those bounds.

Charles II ruled at a time when royal power was still based on a divine mandate. His government and institutions — and indeed he himself — saw the king as the Chosen One, which was a real shame for him because it bound him to the laws of Christendom. And Christianity at the time still forbade lending or borrowing with usury (interest). When financing several failing wars against neighboring countries depleted royal coffers, Charles II needed some quick cash to continue living in kingly fashion.

King Charles II turned to the trusted tally and the keen idea of selling his (government) tallies (debt) at a discount. That way he could allow his lenders to profit without charging interest — the basis for government debt being sold at a discount today.

And the King could issue advance tallies for emergency spending, an idea that proved all too tempting. He sold the tallies collected by his Exchequer (tax collector), essentially trading future tax receipts to the country’s goldsmiths (bankers) for quick cash.

The tallies were receipts for taxes to be paid later in the year. This is a crucial part of the story: they weren’t trading on the value of the objects being traded, but on the cost of waiting for a return and the government’s ability to collect taxes and stay honest. If the government is not honest, this is an outright Ponzi scheme, one where new debt issue could theoretically pay for passing bills. For a while.

The King realized that he’d stumbled onto something big. He could wage all the war he wanted and pay his bills with the gold he got for hazelwood. The King spent and spent, and the goldsmiths’ vaults filled up with more and more sticks.

Goldsmiths were handing out certificates for fractional gold reserves and inflating the young economy in a con all their own. And since the King played along with their early building of a banking system, they played along with the sticks-for-gold investment strategy.

Over time, the market got wise to the game. Buyers started attaching larger and larger discounts to the King’s debt to offset the perceived risk in loaning money to the King. The discounts prompted the King to issue even more tallies, promising out more future tax revenues just to meet his short-term spending desires. But remember only the discount was changing here. So the mountain of taxes to be redeemed in order to pay off his debts grew in comparison, soon overwhelming the King’s income.

By the time the whole Ponzi scheme came to an end, the King’s sticks were trading at a 10% discount (to put that into perspective, short-term T-Bills are currently trading with discounts of one-tenth of one percent or less). The payments on his newer issues trading at that discount soon outmatched all the Kingdom’s tax revenues, effectively bankrupting his Exchequer and threatening to put the monarchy in the poorhouse.

So with the stroke of a pen, the King simply declared those debts illegal and ceased payment.

With that single stroke he stole most of England’s gold — having already spent it — and forced the young economy to fall flat on its face. The King’s various creditors ended up on “the short end of the stick” and all credit in the country evaporated very nearly overnight.

Pretty scary, huh? I’m glad such a thing could never happen today.

Apres nous, le Depression

If it matters what to call this financial crisis, what is it? Is America in a recession? When does a deep recession approach a depression? When is an economic crash revealed to be a collapse? Before we can rename the Great Depression, as we did the Great War (WWI), in deference to this latest, we would do better to address the cataclysm which left this depression.

It was not a meteor, not the foot of Godzilla, nor a collapsed salt mine. The scorched earth we see about us, this rapidly degrading economy, is the destruction wrought by a Norman raid; a blitz of rape and pillage with brutal indifference.

It wouldn’t matter what you call it except that the raiders are still among us. If your valuables are still intact, it’s because they haven’t yet been sacked. If you still have your house, it’s not because the tethers aren’t attached, it’s that they haven’t started towing it off.

When you can see this robbery for what it is, you’ll know that history can tell us that the barbarians do not leave even gold fillings unmolested.

Do you doubt a viking analogy? Look at the economic news today. Over half a million jobs lost in January, over three million jobs lost already. On the same day, the stock market rallies upward.

While you are losing your livelihood, those who invested in the long ships are heartened by the projected success of this raid.

The American dyslexia for economics

The interest rate for banks is down to zero. B of A and Citibank are still charging 39%. What again does economic news have to do with me?
 
The biggest news on the economy was BREAKING NEWS a week ago: the US economy is in a recession, and has been for over a year. Can news a year old still be news? What news exactly are we getting from the experts, economists and other mesmerists paraded on the television every evening?

We consult them on a minute by minute basis, actually, on 24/7 cable news stations, for every hint of a whiff of where the weather vane might indicate the US economy is blowing. If the stock market doesn’t hang on their every diagnosis, it reacts to what unelected, self-made officials say. Now we’re led to understand all that spinning can flip-flop for a year-old contradictory study.

And who’s going to let America know when we’ve hit a full-on depression? Will we be told it before the decade is enshrined post-facto in a Time-Life retrospective? Are those in charge so cynical that they count on the public knowing the truth in spite of their lies, because it’s we who endure the effects in real time anyway? The media can lie about unemployment figures too –what could it possibly matter to the unemployed?

It’s not only ADD. Americans understand why too-sobering statistics are kept from us, lest a post-mortem induce pre. We are the great engine of consumerism, running on pure flattery. I think it’s the same self-defeating fatalism which fuels the life insurance scam. We bet against ourselves. We buy self-help books. We are eternally sick.

But does the economy really work so? Would an autopsy be self-fulfilling? Can an economy go sour due to one bad-apple-attitude, or would it be because of the lost jobs?

I’m guessing this is where the University of Chicago meets Euripides, or if it prefers, palmistry. There’s a global comeuppance in your future, you small fraction of Earth’s population who have expended the lion’s share of its resources. That’s what will introduce the American quality of life to harsh earthbound reality.

Keeping American consumers in debt is less a magician’s act of driving the economy, than it is a swindler’s function of distracting the poor dupe until he’s lost his shirt.

But this swindler is not planning to catch the next bus out of town.

This banking scam isn’t over until the shirtless victim is thrown out the saloon door and into the street, where’s he’s got no redress but to face line after line of well armed riot police.

The US depression torpedoes the US medically sick ‘Health Care’ System

doctor doomToday, Wall Street broke 8,000 going the wrong way… DOWN. Tomorrow will it be 7,500 on the road to national bankruptcy? Who knows. But one thing is for sure, the already sick US Medical System is going down alongside the US stock market and companies like Fannie Mae and General Motors. Report: Economy is sickening US hospitals. Data shows decline in admissions and increase in patients who can’t pay. Don’t get sick!

And don’t get old either… since Uncle Sam will now just let you flounder if you do. The US economic depression is torpedoing the US For-Profit Medical System and so far nobody in government has much of a plan to do anything about it. How much ‘bailout’ money is there left from your taxpayer’s money?

So what are the more alert companies doing about staying afloat? Why they’re heading to Mexico! See Newsweek’s report Ultimate Outsourcing Now, Mexican medicine What a deal, right? If you or somebody in your family gets hit by a car and don’t have insurance because you don’t have a job, then take a trip Far South! If you have any savings still? A big IF????, I know.

You might want to check out the US’s Christus Hospital Chain for where to go to a hospital in Mexico? They’re a US outfit building new hospitals all over Mexico like mad, to help take in those fleeing American citizen refugees from the lack of a functioning US Medical System! That’s right! Not only are the American patients running off to Mexico, but so are the US chains of For-Profit hospitals, too! Que bueno! Y que pendejada tambien… Isn’t this all rather sick?

McCain campaign crashes alongside economy

clowns mugI know it all looks so rosy out there, as the stock markets momentarily rise, the gas prices go down, and the leaves change color. What’s to worry about? Obama opens 8-point lead over McCain And to the liberal heart, the McCain campaign is crashing alongside the economy! Now surely Ship America will automatically right itself once again! Wrong. Tomorrow, you might want to go tell Joe Biden, the next president of the US, what you think about the sorry ass Republicrats that he is candidate for? Joe Biden to Campaign in Colorado Springs & Pueblo Let Joe the Plumber know that it really does stink with American politics!

Stock markets shoot up as European give aways to super rich go online

champagneThe European countries more than matched the US government give aways to the super rich and as a result, the markets everywhere are celebrating this Grand Theft Robbery today. Wall Street soars 11 percent on bank rescue and Morgan deal

The kingpins think everywhere that its once again clear sailing for them. However, there is eventually a big price for them to pay for all this, as the common folk everywhere will have to begin to suffer because of these handouts of their money, their work, their children’s futures to these financial and government vultures.

With this suffering will come a rising anger about these gargantuan robberies of national and international wealth, when the people themselves need these funds to make a decent society. Never post WW2 has the system of private property run by the super rich spun itself so totally into the wrongest directions. Dead now is the idea of inter-class cooperation within the capitalist markets of the imperialist nations. Many will still support the super rich no matter how far they go with their criminality, but the foundations of that support have been severely undermined.

Further, since no real correction of any of the main problems that the world economy has faced have been put into place, all that has been bought is the smallest increment of time for the capitalist governments to regroup. These markets are eventually going to collapse again, and when they do, what will then be left for the rich folk to plunder to keep their pyramid schemes afloat? Nada.

McCain is a Member of a Terrorist Organization: the GOP!

kill-the-media
Some “rescue.” Stock Market continues to plummet, the DOW has lost 25% of it’s value since the bailout was passed, less than a week ago.

Bill Gates no longer the richest person in America.

McCain doesn’t give a damn about the economy. Why should he? He’s filthy rich.

Why does John McCain hate veterans?

McCain linked to Iran Contra scandal.

Insane McCain, not fit to be president!

GOP isn’t even pretending they are a separate entity from unAmerican Murdoch’s Fox News &amp Propaganda, now releasing Fox transcripts verbatim as RNC press releases.

Jewish pogrom in Israel Palestine. Israeli Jews are making German Nazis look like boy scouts.

More Nazi Jews riot in Palestine, Israeli Foreign Minister tells Palestinians: “Do not defend yourselves!”

I think McCain is going to lose for the same reason that Hillary lost: that arrogant, elitist attitude that it’s “his [or her] turn” to be president. Because nothing will piss off a voter faster than telling him he doesn’t have a choice. Then again, the only vote that counts in November is Diebold’s, and the Democrats haven’t done a damned thing about that in the last two years they’ve been in charge of Congress. Maybe that’s why McCain’s so confident.

If they succeed in fixing this election, I hope the backlash makes the French Revolution look like a love in.

Opposing eternal war for corporate profit now classifies you as a “terrorist.”

Lock your doors, the Republicans are coming.

Former Republican governor of Michigan withdraws endorsement of McCain.

Sarah Palin throws husband under bus.

Proof that the GOP is now offically the American Nazi Party. [more]

Excerpts from Thomas McCullock’s Oct 9 notes, thomasmc.com.

Sarah Palin had sex with Saddam Hussein!

Sarah Palin declares that troops and veterans are unqualified to vote!

Well duh. Conservative Peggy Noonan says Sarah Palin’s candidacy is built on class warfare.

Sarah Palin admits there is a place in Hell reserved for Sarah Palin.

Sarah Palin had sex with Saddam Hussein!

John McCain was on the board of a racist (and antiZionist) group called the U.S. Council for World Freedom.

McCain wrecks everything he touches. As a pilot, he wrecked 5 planes, and ended up getting himself captured in Vietnam. In the Senate, he deregulated the US gov’t causing most of the crises we now face. This country could not survive him being president.

Stock market continues in free fall, as world realizes that $850B the Democrats gave to Bush won’t do a damn thing to help our economy, it was just a gift to the filthy-rich, who won’t use it to help anyone but themselves. Duh.

AIG execs living it up like kings on taxpayer bailout money.

Excerpts from Thomas McCullock’s Oct 6 notes, thomasmc.com.

The crash continues as American people go into shock

dangerousLast week we saw most of America go into shock as the stark reality of the US not having a real opposition party became evident. The Democratic Party actually led the rush to pass Bush’s $700 billion giveaway to the rich Bill into law, and it was actually the Republican party that posed the minor stumbling block to getting it done. The American people were almost completely left on the sidelines as a result of simply never having constructed a major opposition party to the Two Party Big Business dictatorship that US is run under.

This week, the show has already begun again, as stocks begin the week by crumbling throughout Asia, Europe, and North America. Nobody is fooled internationally by the $700 billion dollar American give away legislation. Germany had to even copy the US government with their own give away bill, too, to the banks. Germany moves to shore up bank confidence And the Euro appears to be in as bad a shape as the dollar is in world currency marts, sliding in relation to the dollar!

Everywhere they talk of a stampede as stock values and currencies crumble. They talk of panic and they talk of crisis. The US stock market continued down this AM and everywhere there is a sense of impending doom. Hard times are now being made by the financial sectors for all of us, as unemployment rolls rise, production drops. The crash continues as the American people go into shock.

Stop the Senate of would-be thieves!

Stop the Senate of would-be thieves!

wallstreet-bailoutCall your Band of Thieving Senators now to tell them you don’t want to give $700 Billion –more honestly likely to be $5 Trillion– to the robber bankers of Wall Street! Telephone Colorado Senators Ken Salazar at 202.224.5852 and Wayne Allard at 202.224.5941 NOW. Why not call OBAMA too! (phone: 202-224-2854) Tell them you want them to consult with at least ONE economist of repute! At least one analyst not on the corporate payroll. As he promised yesterday, Michael Moore suggests a 10 PART PLAN, only IF pressure can be brought to bear right now to stop the Senate bill.

Friends,

The richest 400 Americans — that’s right, just four hundred people — own MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly $700 billion — the same amount that they are now demanding we give to them for the “bailout.” Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves!

Of course, they are not going to do that — at least not voluntarily. George W. Bush was handed a $127 billion surplus when Bill Clinton left office. Because that money was OUR money and not his, he did what the rich prefer to do — spend it and never look back. Now we have a $9.5 trillion debt. Why on earth would we even think of giving these robber barons any more of our money?

I would like to propose my own bailout plan. My suggestions, listed below, are predicated on the singular and simple belief that the rich must pull themselves up by their own platinum bootstraps. Sorry, fellows, but you drilled it into our heads one too many times: There… is… no… free… lunch. And thank you for encouraging us to hate people on welfare! So, there will be no handouts from us to you. The Senate, tonight, is going to try to rush their version of a “bailout” bill to a vote. They must be stopped. We did it on Monday with the House, and we can do it again today with the Senate.

It is clear, though, that we cannot simply keep protesting without proposing exactly what it is we think Congress should do. So, after consulting with a number of people smarter than Phil Gramm, here is my proposal, now known as “Mike’s Rescue Plan.” It has 10 simple, straightforward points. They are:

1. APPOINT A SPECIAL PROSECUTOR TO CRIMINALLY INDICT ANYONE ON WALL STREET WHO KNOWINGLY CONTRIBUTED TO THIS COLLAPSE. Before any new money is expended, Congress must commit, by resolution, to criminally prosecute anyone who had anything to do with the attempted sacking of our economy. This means that anyone who committed insider trading, securities fraud or any action that helped bring about this collapse must go to jail. This Congress must call for a Special Prosecutor who will vigorously go after everyone who created the mess, and anyone else who attempts to scam the public in the future.

2. THE RICH MUST PAY FOR THEIR OWN BAILOUT. They may have to live in 5 houses instead of 7. They may have to drive 9 cars instead of 13. The chef for their mini-terriers may have to be reassigned. But there is no way in hell, after forcing family incomes to go down more than $2,000 dollars during the Bush years, that working people and the middle class are going to fork over one dime to underwrite the next yacht purchase.

If they truly need the $700 billion they say they need, well, here is an easy way they can raise it:

a) Every couple who makes over a million dollars a year and every single taxpayer who makes over $500,000 a year will pay a 10% surcharge tax for five years. (It’s the Senator Sanders plan. He’s like Colonel Sanders, only he’s out to fry the right chickens.) That means the rich will still be paying less income tax than when Carter was president. This will raise a total of $300 billion.

b) Like nearly every other democracy, charge a 0.25% tax on every stock transaction. This will raise more than $200 billion in a year.

c) Because every stockholder is a patriotic American, stockholders will forgo receiving a dividend check for one quarter and instead this money will go the treasury to help pay for the bailout.

d) 25% of major U.S. corporations currently pay NO federal income tax. Federal corporate tax revenues currently amount to 1.7% of the GDP compared to 5% in the 1950s. If we raise the corporate income tax back to the level of the 1950s, that gives us an extra $500 billion.

All of this combined should be enough to end the calamity. The rich will get to keep their mansions and their servants, and our United States government (“COUNTRY FIRST!”) will have a little leftover to repair some roads, bridges and schools.

3. BAIL OUT THE PEOPLE LOSING THEIR HOMES, NOT THE PEOPLE WHO WILL BUILD AN EIGHTH HOME. There are 1.3 million homes in foreclosure right now. That is what is at the heart of this problem. So instead of giving the money to the banks as a gift, pay down each of these mortgages by $100,000. Force the banks to renegotiate the mortgage so the homeowner can pay on its current value. To insure that this help does no go to speculators and those who have tried to make money by flipping houses, this bailout is only for people’s primary residence. And in return for the $100K paydown on the existing mortgage, the government gets to share in the holding of the mortgage so that it can get some of its money back. Thus, the total initial cost of fixing the mortgage crisis at its roots (instead of with the greedy lenders) is $150 billion, not $700 billion.

And let’s set the record straight. People who have defaulted on their mortgages are not “bad risks.” They are our fellow Americans, and all they wanted was what we all want and most of us still get: a home to call their own. But during the Bush years, millions of them lost the decent paying jobs they had. Six million fell into poverty. Seven million lost their health insurance. And every one of them saw their real wages go down by $2,000. Those who dare to look down on these Americans who got hit with one bad break after another should be ashamed. We are a better, stronger, safer and happier society when all of our citizens can afford to live in a home that they own.

4. IF YOUR BANK OR COMPANY GETS ANY OF OUR MONEY IN A “BAILOUT,” THEN WE OWN YOU. Sorry, that’s how it’s done. If the bank gives me money so I can buy a house, the bank “owns” that house until I pay it all back — with interest. Same deal for Wall Street. Whatever money you need to stay afloat, if our government considers you a safe risk — and necessary for the good of the country — then you can get a loan, but we will own you. If you default, we will sell you. This is how the Swedish government did it and it worked.

5. ALL REGULATIONS MUST BE RESTORED. THE REAGAN REVOLUTION IS DEAD. This catastrophe happened because we let the fox have the keys to the henhouse. In 1999, Phil Gramm authored a bill to remove all the regulations that governed Wall Street and our banking system. The bill passed and Clinton signed it. Here’s what Sen. Phil Gramm, McCain’s chief economic advisor, said at the bill signing:

“In the 1930s … it was believed that government was the answer. It was believed that stability and growth came from government overriding the functioning of free markets.

“We are here today to repeal [that] because we have learned that government is not the answer. We have learned that freedom and competition are the answers. We have learned that we promote economic growth and we promote stability by having competition and freedom.

“I am proud to be here because this is an important bill; it is a deregulatory bill. I believe that that is the wave of the future, and I am awfully proud to have been a part of making it a reality.”

This bill must be repealed. Bill Clinton can help by leading the effort for the repeal of the Gramm bill and the reinstating of even tougher regulations regarding our financial institutions. And when they’re done with that, they can restore the regulations for the airlines, the inspection of our food, the oil industry, OSHA, and every other entity that affects our daily lives. All oversight provisions for any “bailout” must have enforcement monies attached to them and criminal penalties for all offenders.

6. IF IT’S TOO BIG TO FAIL, THEN THAT MEANS IT’S TOO BIG TO EXIST. Allowing the creation of these mega-mergers and not enforcing the monopoly and anti-trust laws has allowed a number of financial institutions and corporations to become so large, the very thought of their collapse means an even bigger collapse across the entire economy. No one or two companies should have this kind of power. The so-called “economic Pearl Harbor” can’t happen when you have hundreds — thousands — of institutions where people have their money. When you have a dozen auto companies, if one goes belly-up, we don’t face a national disaster. If you have three separately-owned daily newspapers in your town, then one media company can’t call all the shots (I know… What am I thinking?! Who reads a paper anymore? Sure glad all those mergers and buyouts left us with a strong and free press!). Laws must be enacted to prevent companies from being so large and dominant that with one slingshot to the eye, the giant falls and dies. And no institution should be allowed to set up money schemes that no one can understand. If you can’t explain it in two sentences, you shouldn’t be taking anyone’s money.

7. NO EXECUTIVE SHOULD BE PAID MORE THAN 40 TIMES THEIR AVERAGE EMPLOYEE, AND NO EXECUTIVE SHOULD RECEIVE ANY KIND OF “PARACHUTE” OTHER THAN THE VERY GENEROUS SALARY HE OR SHE MADE WHILE WORKING FOR THE COMPANY. In 1980, the average American CEO made 45 times what their employees made. By 2003, they were making 254 times what their workers made. After 8 years of Bush, they now make over 400 times what their average employee makes. How this can happen at publicly held companies is beyond reason. In Britain, the average CEO makes 28 times what their average employee makes. In Japan, it’s only 17 times! The last I heard, the CEO of Toyota was living the high life in Tokyo. How does he do it on so little money? Seriously, this is an outrage. We have created the mess we’re in by letting the people at the top become bloated beyond belief with millions of dollars. This has to stop. Not only should no executive who receives help out of this mess profit from it, but any executive who was in charge of running his company into the ground should be fired before the company receives any help.

8. STRENGTHEN THE FDIC AND MAKE IT A MODEL FOR PROTECTING NOT ONLY PEOPLE’S SAVINGS, BUT ALSO THEIR PENSIONS AND THEIR HOMES. Obama was correct yesterday to propose expanding FDIC protection of people’s savings in their banks to $250,000. But this same sort of government insurance must be given to our nation’s pension funds. People should never have to worry about whether or not the money they’ve put away for their old age will be there. This will mean strict government oversight of companies who manage their employees’ funds — or perhaps it means that the companies will have to turn over those funds and their management to the government. People’s private retirement funds must also be protected, but perhaps it’s time to consider not having one’s retirement invested in the casino known as the stock market. Our government should have a solemn duty to guarantee that no one who grows old in this country has to worry about ending up destitute.

9. EVERYBODY NEEDS TO TAKE A DEEP BREATH, CALM DOWN, AND NOT LET FEAR RULE THE DAY. Turn off the TV! We are not in the Second Great Depression. The sky is not falling. Pundits and politicians are lying to us so fast and furious it’s hard not to be affected by all the fear mongering. Even I, yesterday, wrote to you and repeated what I heard on the news, that the Dow had the biggest one day drop in its history. Well, that’s true in terms of points, but its 7% drop came nowhere close to Black Monday in 1987 when the stock market in one day lost 23% of its value. In the ’80s, 3,000 banks closed, but America didn’t go out of business. These institutions have always had their ups and downs and eventually it works out. It has to, because the rich do not like their wealth being disrupted! They have a vested interest in calming things down and getting back into the Jacuzzi.

As crazy as things are right now, tens of thousands of people got a car loan this week. Thousands went to the bank and got a mortgage to buy a home. Students just back to college found banks more than happy to put them into hock for the next 15 years with a student loan. Life has gone on. Not a single person has lost any of their money if it’s in a bank or a treasury note or a CD. And the most amazing thing is that the American public hasn’t bought the scare campaign. The citizens didn’t blink, and instead told Congress to take that bailout and shove it. THAT was impressive. Why didn’t the population succumb to the fright-filled warnings from their president and his cronies? Well, you can only say ‘Saddam has da bomb’ so many times before the people realize you’re a lying sack of shite. After eight long years, the nation is worn out and simply can’t take it any longer.

10. CREATE A NATIONAL BANK, A “PEOPLE’S BANK.” If we really are itching to print up a trillion dollars, instead of giving it to a few rich people, why don’t we give it to ourselves? Now that we own Freddie and Fannie, why not set up a people’s bank? One that can provide low-interest loans for all sorts of people who want to own a home, start a small business, go to school, come up with the cure for cancer or create the next great invention. And now that we own AIG, the country’s largest insurance company, let’s take the next step and provide health insurance for everyone. Medicare for all. It will save us so much money in the long run. And we won’t be 12th on the life expectancy list. We’ll be able to have a longer life, enjoying our government-protected pension, and living to see the day when the corporate criminals who caused so much misery are let out of prison so that we can help reaclimate them to civilian life — a life with one nice home and a gas-free car that was invented with help from the People’s Bank.

Yours,
Michael Moore

P.S. Call your Senators now. Here’s a backup link in case we crash that site again. They are going to attempt their own version of the Looting of America tonight. And let your reps know if you agree with my 10-point plan.

Not Sons of Bitches, Dems are bitches

When the Democrats were the minority they seemed so weak. Now in the Majority they’re positively wimps. Pundits tell us it’s a lack of leadership. Why would the corporate media overlook who’s at the whip? It would seem clear that the corporations writing the legislation, funding the campaigns, and paying for the free lunch, are driving the agenda. The GOP is paid to play the white hats, and when a bill is unpopular, the Dems are pushed forward to play the creeps.

On the proposed bailout ripoff, the Dems were not the sons of bitches, they’re just the bitches. I heard a Dem scare-mongeree explain that in spite of loathing the idea of a solution which benefited the wrong people, the bailout was our only option. “All economists agree we have to do this” he said, ignoring quite a few who have urged the opposite. The interviewer interrupted to announce, this just in, the vote had failed and as a result the DOW had plunged by 700 points. She wanted his response: “Oh. My. God.”

As Bush and his GOP team stand in the shadows, the Democrats are thrust forward to “lead” the support for this criminal legislation. Whether the bill won or lost, either way the Democrats would come out looking like shits.

I’m reminded about how an invading army flushes out defenders still hiding. Send your captives into the buildings to spring the booby-traps. Make them open the doors to draw the fire. Among thugs in prison the dirty work is done by the bitches.

Except for Democracy Now, the media won’t report the authentic Democratic efforts to lead. Here’s Dennis Kucinich on the floor of Congress speaking against the bailout and asking: why, why why:

“The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.

Why aren’t we having hearings on the plan we have just received? Why aren’t we questioning the underlying premise of the need for a bailout with taxpayers’ money?

Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren’t we asking Wall Street to clean up its own mess?

Why aren’t we passing new laws to stop the speculation, which triggered this? Why aren’t we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

“Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street?

Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks?

Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls.”

Michael Moore is more charitable about the Democrats’ actions yesterday. Here’s his update:

Friends,

Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan’s finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run.

But what they didn’t know was that hundreds of thousands of Americans woke up yesterday morning and decided it was time for revolt. The politicians never saw it coming. Millions of phone calls and emails hit Congress so hard it was as if Marshall Dillon, Elliot Ness and Dog the Bounty Hunter had descended on D.C. to stop the looting and arrest the thieves.

The Corporate Crime of the Century was halted by a vote of 228 to 205. It was rare and historic; no one could remember a time when a bill supported by the president and the leadership of both parties went down in defeat. That just never happens.

A lot of people are wondering why the right wing of the Republican Party joined with the left wing of the Democratic Party in voting down the thievery. Forty percent of Democrats and two-thirds of Republicans voted against the bill.

Here’s what happened:

The presidential race may still be close in the polls, but the Congressional races are pointing toward a landslide for the Democrats. Few dispute the prediction that the Republicans are in for a whoopin’ on November 4th. Up to 30 Republican House seats could be lost in what would be a stunning repudiation of their agenda.

The Republican reps are so scared of losing their seats, when this “financial crisis” reared its head two weeks ago, they realized they had just been handed their one and only chance to separate themselves from Bush before the election, while doing something that would make them look like they were on the side of “the people.”

Watching C-Span yesterday morning was one of the best comedy shows I’d seen in ages. There they were, one Republican after another who had backed the war and sunk the country into record debt, who had voted to kill every regulation that would have kept Wall Street in check — there they were, now crying foul and standing up for the little guy! One after another, they stood at the microphone on the House floor and threw Bush under the bus, under the train (even though they had voted to kill off our nation’s trains, too), heck, they would’ve thrown him under the rising waters of the Lower Ninth Ward if they could’ve conjured up another hurricane. You know how your dog acts when sprayed by a skunk? He howls and runs around trying to shake it off, rubbing and rolling himself on every piece of your carpet, trying to get rid of the stench. That’s what it looked like on the Republican side of the aisle yesterday, and it was a sight to behold.

The 95 brave Dems who broke with Barney Frank and Chris Dodd were the real heroes, just like those few who stood up and voted against the war in October of 2002. Watch the remarks from yesterday of Reps. Marcy Kaptur, Sheila Jackson Lee, and Dennis Kucinich. They spoke the truth.

The Dems who voted for the giveaway did so mostly because they were scared by the threats of Wall Street, that if the rich didn’t get their handout, the market would go nuts and then it’s bye-bye stock-based pension and retirement funds.

And guess what? That’s exactly what Wall Street did! The largest, single-day drop in the Dow in the history of the New York Stock exchange. The news anchors last night screamed it out: Americans just lost 1.2 trillion dollars in the stock market!! It’s a financial Pearl Harbor! The sky is falling! Bird flu! Killer Bees!

Of course, sane people know that nobody “lost” anything yesterday, that stocks go up and down and this too shall pass because the rich will now buy low, hold, then sell off, then buy low again.

But for now, Wall Street and its propaganda arm (the networks and media it owns) will continue to try and scare the bejesus out of you. It will be harder to get a loan. Some people will lose their jobs. A weak nation of wimps won’t last long under this torture. Or will we? Is this our line in the sand?

Here’s my guess: The Democratic leadership in the House secretly hoped all along that this lousy bill would go down. With Bush’s proposals shredded, the Dems knew they could then write their own bill that favors the average American, not the upper 10% who were hoping for another kegger of gold.

So the ball is in the Democrats’ hands. The gun from Wall Street remains at their head. Before they make their next move, let me tell you what the media kept silent about while this bill was being debated:

1. The bailout bill had NO enforcement provisions for the so-called oversight group that was going to monitor Wall Street’s spending of the $700 billion;

2. It had NO penalties, fines or imprisonment for any executive who might steal any of the people’s money;

3. It did NOTHING to force banks and lenders to rewrite people’s mortgages to avoid foreclosures — this bill would not have stopped ONE foreclosure!;

4. It had NO teeth anywhere in the entire piece of legislation, using words like “suggested” when referring to the government being paid back for the bailout;

5. Over 200 economists wrote to Congress and said this bill might actually WORSEN the “financial crisis” and cause even MORE of a meltdown.

Put a fork in this slab of pork. It’s over. Now it is time for our side to state very clearly the laws WE want passed. I will send you my proposals later today. We’ve bought ourselves less than 72 hours.

Yours,
Michael Moore

The specter of world wide depression raises its head

specterWe are so self centered in the US! As our government’s military deficit spending collapses the American capitalist economy we seem to forget that the crisis is a global one now. The Democratic/ Republican team have dragged down the global economy and not just our national one.

Stock markets all across the globe have been crashing due to what is termed in the Big Business press as being a ‘credit crunch’. Look everywhere, whether it be China, Russia, Japan, Iceland, Germany, France, or wherever, and the Almighty Dollar is dragging them all down. Something much more than a ‘credit crunch’ is involved in this international meltdown of the global economy.

Actually, what we are seeing and experiencing is the normal global capitalist economic cycle in motion. The downsides are just not very much fun for most of us, and, in fact, neither are the ‘upturns’ either. There is no such thing as ‘regulated capitalism’ since the regulators always ultimately turn out to be the capitalists regulating themselves, and that is no real regulation at all. There has got to be a better way!

EAT THE RICH!

EAT THE RICH!

Wall Street protestMy favorite visual from Thursday’s Wall Street action: EAT THE RICH, invoking Peter Richardson’s Class War cult classic. The bastards are making a grab for $700 BILLION in this salvo. Which proposition is the more preposterous?

What’s with the Wall Street building garbed in the Stars and Stripes? Odd enough that the architecture impersonates a courthouse or mausoleum. Is the stock market a federal agency? Draped in Red, White and Blue it looks like the command center of the Capitalist empire.