Humint Events Online: The Financial Crisis: Outrageous, Maddening, Depressing, Worrisome...

Saturday, March 21, 2009

The Financial Crisis: Outrageous, Maddening, Depressing, Worrisome...

Apocalyptic???

Clearly the ordinary people of the world got massively screwed--- once again. And the elites make off with the riches. But the bigger issue is where this is all going.

I suspect the economy will survive-- we're not going to have a huge depression, the country is not going to fall apart, people aren't going to be rounded up and put in detention camps or be exterminated.

But still, the country is in a hole. The Obama administration's credibility is getting (rightfully) trashed and the massive debt will severely limit future action by the government. The dream of a more progressive society seems distant. Lots of people will be hurting for years.

It's all the fucking bankers' fault, and there is rightfully populist rage against them. But yet it seems they will get away with everything, again-- except for a few fall guys like Bernard Madoff.

When will there ever be justice against the robber/predator elites? Will any leaders ever be strong enough to go after them and win?

UPDATE:
The problem in a nutshell:
If this were a medical emergency, it appears it would look something like this:

The Illness- reckless and irresponsible betting led to huge losses
The Diagnosis- Insufficient gambling.
The Cure- a Trillion dollar stack of chips provided by the house.
The Prognosis- We are so screwed.


UPDATE 2: Greenwald:
Matt Taibbi's new Rolling Stone article perfectly summarizes what the AIG scandal reveals about our political and economic system, and should be read in full. In sum: financial elites own the Government and both political parties. Their money drowns Washington and their lobbyists control it. They used that ownership of Government to abolish decades-old legal and regulatory protections which previously constrained what they could do. In the lawless environment which they literally purchased from our political leaders, they were able to pillage and pilfer and steal without limit. And even now that everything has come crashing down, they continue to dictate what the Government's response is, to ensure that they -- the prime authors of the disaster -- are the prime beneficiaries, at the public's expense, of the "solutions," solutions which preserve their ill-gotten gains and heighten even further their power and influence.


Well, yes-- though of course it's all much worse than this! For fucks' sake, the fuckers have done so much more than just financial shenanigans, things such as 9/11. But basically, they have gotten firm control over the levers of power-- and they aren't letting go UNLESS WE DAMN WELL DO SOMETHING ABOUT IT.

The problem also here and related items--
Madoff in lockdown... and this rant from Olbermann:

4 Comments:

Blogger K.L. Ashley said...

"It's all the fucking bankers' fault..."

1. Without the financial burden of the monster military, the banker part of the crisis would get a foot note. Bankers like real estate, not tanks.

2. Congress turned the bankers loose.

3. The sheep voted them all back in. Bankers? Children will be children if you don't hide the cookie jar.

4. All of the establishment economists want to tie the blame on the bankers, to distract from the ME "wars", as they are part of the 19 Arabs scam. Only a few like PC Roberts tell it like its is.

3:44 PM  
Blogger spooked said...

While the wars and the military budget are part of the overall problem, they don't account for the huge hole we're in fiscally. The bigger problem was the huge gambles the banking industry made on mortgage-related securities.

3:57 PM  
Blogger K.L. Ashley said...

The Soviet Union went broke, driven by military expenditure, or some version of that. Everything is rich in bull shit, so you take half as true.

The US is on verge of the same. The people (99 percent) that choose to live in a pretend world (big name NYT famous columnists) and deny 9/11 are also going to deny the disaster in store with the military madness, be it the end of the world or the economy spins into the abyss, because of it. It comes down to supporting the WOT. Naturally they have a TV version of it all. (Or Common Screams, Alternut, Truthdug, bad Bush, the war criminal. That diversion didn't last long. And too late to impeach, so that one is gone.)

The PTB (Perps/Power that be) needed a new "FALSE FLAG", and this is it. Start a crisis, come out with more wealth than ever, enhance the police state, gain power like you would not believe. Gee! Wow! Lose my official bonus for a year.

5:59 PM  
Blogger K.L. Ashley said...

Crisis is not in the dictionary of the PTB as applied to the citizen.

"Legislation that shows a corner is being turned, a new leaf turned over, would require addressing issues such as the wars in Iraq and Afghanistan, the monstrous military budget, the even bigger trade deficit, the massive tax cuts to the rich over the past 28 years, the very debt-based system of money creation -- none of which got the time of day as legislators prepared to end their final working session this year."

Eric Walberg
The Banker's 9/11

http://onlinejournal.com/artman/publish/printer_3856.shtml

7:01 PM  

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