·
Marc W. Kohler Tony, it's
easy. The financial crisis was started years ago, when the Federal Reserve was
created. In 1999, the repeal of Glass–Steagall Act - made the wall between
investment and saving banks disappear... We forget the FDR, in order to get
Glass-Stengall passed; the banking industry insisted that thousands of acres of
urban real estate could NEVER have a homeowner mortgage. . The areas were
created by drawing red lines around them with a red pen. This is now called
"red-lining". This made EVERY house within red lined area could be
sold for CASH only. The homes were depreciated in the hundreds of thousands of dollars,
and a whole new class of absentee lord lords became one of the most import
social forces in America ’s
fiscal policy. They could be sold for CASH ONLY. A whole new class of American
absentee landlords was crated. The massive depreciation of these red-lined
areas caused a second depression--one that was allowed to run until red-lining
was outlawed in the 1970s, but by then, it was much too late. Every city in America had
thousands of worthless acres that became slums due to the lack of even the
possibility of personal ownership of the houses in those neighborhoods. When
section 8 housing came along to "solve" the problem, did not. In
fact, about then years ago Former Governor Philip Noel called Section 8 housing
laws gave him the feeling of "laughing all the Way to the Bank".
Section 8 gave the landlord 3 times what the poor could afford--mostly
welfare--so deferral and state
money
made millionaires out of many, many Rhode Islanders. They and their children
now live in East Greenwich, Little Compton, Barrington , and other rich neighbors.
Medicare, farm subsidies, welfare, the FDA, the Federal military, Oil Industry
policies. Social Security has created millionaires every step along the
way—that was a NECESSARY cost of created ANY social improvement in America . One of
the most well known samples of this was the Presidential Candidate Ross Perot—a
man who made million and millions of dollars automating and printing Social
Security checks. I do say, thank God for him, for without him, the Republican
juggernaut started with Eisenhower. Enhanced by Reagan, and culminating in the
war deficit mad George Bush 43. See next post fro details as to home the
current crisis was both the goal and the conclusion of this history—only now
was have reached the point, that changing it is most likely pointless—that the
Occupy movement, Tony, is too littler, and much to late. The trillionaires do
not need people or citizens, and even the very concept of a nation state called
the United Sates of America. The world will grow into consumers that will leave
Americans insignificant to the creation of greater profits. If you invested in
the original Greek Bonds a year ago, you were guaranteed an 18% return. The
next round of bonds will pay more and guarantee the end of the nation of Greece as
violence takes over social civility. I will post more next, but know that
trillionaires can buy better armies and militias and than any nation can at
this time. But, wait, more to come…
Joe DeLemos it seems to me
they are "occupying" the wrong street. Government forces banks to
lend to people who can’t pay back. They regulate and tax companies out of the
country. Then blame everything on businesses. These people if they had half a
brain should occupy Pennsylvania
Ave not Wall St
Kenneth Watkinson Complicated
problems will not be solved with simple solutions. End of cold war brought 2
billion people competing (Chinese) 2 tax cuts, 2 wars, equals deficits. Now
greedy lobbyists drug companies. Look at your pay. Doesn’t it suck? I think its
4% of people own 60% wealth in this country. Some do it honestly. Not all. Do
you think its fair for the elec company to own the Gas co? Is that fair? If you cook the lobster slow after a while he
doesn't know he's being cooked.
o
Marc W. Kohler So, here is
part two. First, to suggest that minimum wage laws sent jobs overseas is
silly—no matter what has happened here, slaves will always be cheaper over
seas. We don’t have too many slaves, but without regulation we have a lot fewer
than we would have, and now that the economic basis for the world is
trillionaires who owe no allegiance to any country. So, for Tony and the rest,
I shall continue from my previous post. I have brought you through the
consequences of the caste system started in the USA after the Depression. Yes,
there was always rich and poor, but after the depression, FDR took the
Progressive Platform of his cousins, Theodore Roosevelt. For that, you can go
tohttp://www.pbs.org/wgbh/amex/presidents/26_t_roosevelt/psources/ps_trprogress.html.People call the
Progressive Party, The Bull Moose Party. Theodore Roosevelt never really called
the party that that. He was shot on October 13, 1912. Reports say that in the
speech that night, people claim he said he survived because he must be “strong
as bull moose.” That’s not true. Other people say he told a reporter that after
he got out of the hospital, as an answer to a reporters question. That’s not
true, either. The election was held 18 days after the shooting. So, the term
Bull Moose came AFTER TR lost. TR NEVER dreamed that the name of the American
Progressive Party would be the Bull Moose Party (which is what it did come to
be known—lasting until about 1916. “Bull Moose” was really a term turned to
destroy the Progressive movement and ridicule it. If you read their platform,
you will find not only the seeds, but the roots and trunk of what America should
be, could be, and would be if JFK, RFK and MLJ had not been murdered. Why do
conservatives want Reagan on the dime instead of FDR is because they HATED him
then. They HATE him now. And they will not be happy until everything TR, FDR,
Truman, JFK tried to create are completely extinguished from the American
horizon. We have stood by in silence while there campaign has. Think about how
this hate war started. On the morning that Eisenhower was inaugurated, he and
Mamie refused to get out of the limo to have tea with Bess and Harry. This had
never happened in the history of the country. Harry could have just sat there
waiting in Whitehouse…the insult (probably created by Allen Dulles or his
brother John Foster Dulles). This will lead to Credit Default Swap Bonds in
1999, and that transferred trillions of dollars out of our economy. To
understand the next post, it would be good for to you read the Credit
Credit Default Swaps: The Next Crisis?
By JANET MORRISSEY
TIME MAGAZINE Monday, Mar. 17, 2008
Credit Default Swaps: The Next Crisis?
By JANET MORRISSEY
TIME MAGAZINE Monday, Mar. 17, 2008
No comments:
Post a Comment