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Old 04-13-2009, 09:24 PM
 
1,532 posts, read 1,524,524 times
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The Market Ticker





Monday, April 13. 2009


Posted by Karl Denninger in Editorial at 10:34
(Page 1 of 296, totaling 888 entries) » next page
Asking?

Oh boy....
"The people who are subsidizing the activities of the banks through their tax dollars are the same people who are furnishing the high profits through consumer lending," Elizabeth Warren, chairwoman of the Congressional Oversight Panel told the Journal in an interview.
"In a sense, we're asking taxpayers to pay twice," Warren told the paper.
Uh, let's correct the record here.
The taxpayer was raped for $700 billion dollars after explicitly telling their Representatives and Senators NO by somewhere between a 100:1 and 300:1 ratio, depending on the individual Rep or Senator.
In addition to this The Taxpayer was further violated to the tune of some $8-12 trillion in additional "commitments and loans" for which he had no representation or voice, as those "commitments" were made by The Fed and affiliated agencies, which Congress has refused to exercise control over, despite having the clear Constitutional mandate to do so.
This is over $40,000 per man, woman and child in this country, and it was stolen from you quite literally at gunpoint for the explicit purpose of preventing the banksters responsible for this mess suffering the loss of their shirts, their homes, their yachts and their bonuses.
Since TARP was launched in October, banks bolstered by capital infusions have boosted charges on a wide range of routine transactions, hiked rates on credit cards and continued making loans criticized as predatory by consumer advocates, the Journal said.
No kidding?
You forgot that these "actions" by The Fed have also destroyed the ability of people to earn money by saving; that is, they have destroyed the time value of money in the form of interest paid to private capital for the loan of it's money to both the banking system via deposits and Treasury via purchase of Bills and Bonds, in an insane attempt to force people to place those funds in harm's way where they will be lost in the equity and credit markets.
Why is it again that Americans put up with this sort of crap?
Are we really so stupid as to just turn on American Idol after losing our jobs, homes and half of our retirement accounts, then quietly accept this sort of outrageous nonsense from our so-called "media" who has been intentionally complicit in not only the blowing of the bubble but also corralling America into debt slavery?
Guess so.





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Old 04-13-2009, 09:52 PM
 
Location: Somewhere gray and damp, close to the West Coast
20,969 posts, read 4,649,682 times
Reputation: 8559
Geez, they're probably monitoring my internet activity, so I probably shouldn't agree with you too loudly, or mention that I swear I'm never paying another dime in taxes, to the extent that I can get away with it, and I am NOT going to go out and buy all the Made-In-China pretty-shineys at Walmart, because my old pretty-shineys haven't worn out yet!

Gawd, I must be pure, filthy un-Uhmurican!
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Old 04-13-2009, 09:55 PM
 
Location: southern california
61,303 posts, read 81,196,112 times
Reputation: 55458
that is what debt is, contrary to mr reagan debt is not meaningless, it is slavery.
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Old 04-13-2009, 10:12 PM
 
Location: Great State of Texas
86,067 posts, read 78,529,358 times
Reputation: 27662
Sixteen Tons by Tennessee Ernie Ford

"You load sixteen tons, what do you get
Another day older and deeper in debt
Saint Peter don’t you call me ’cause I can’t go
I owe my soul to the company store"
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Old 04-13-2009, 10:18 PM
 
Location: Somewhere gray and damp, close to the West Coast
20,969 posts, read 4,649,682 times
Reputation: 8559
Yep
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