[smallpoxgirl]

I'm betting this is phony. No mainstream news reports of it anywhere. Just a few anonymous posts on conspiracy blogs. Paulson was interviewed by PBS 2 days ago and all they talked about was social security. link

[Roccland]

is spreading. Ya think?
Bloomberg

[Ayame]

I don't get it I read this today:

The spreading fears forced the European Central Bank and, later, the Federal Reserve, to inject billions of dollars into the financial system to help prevent borrowing and lending in credit markets from freezing up.

So in other words they just make more money?
Is that what the Fed are doing to solve this?

link to article

[jasonraymondson]

Sadly, we live in a world where few in power can see past their own profits that they can make in the now. The day after tomorrow for them is a fictitious period. I am worried though this may affect student loans. I am a college student and still have two years left and have already racked up 12,000 in student loans. I suppose if the whole economic system collapses I won't have to worry about it, but I am more afraid that if the market becomes to unstable I will be forced to pay these monies before I can complete college and thus will be prevented from finishing my education.


It is really great though how this site got the facts straight about sub-prime collapse, yet even the economics professors at my university said there should be no concern regarding the sub-prime market. I remember getting into an arguement with Dr. Randalls regarding this and now this semester I get to go back and go I told you so.

I think I am getting a better education on here. If not slightly nuttier at times.

[SinisterBlueCat]

$this->bbcode_second_pass_quote('Ayame', '
')
So in other words they just make more money?
Is that what the Fed are doing to solve this?

[vision-master]

$this->bbcode_second_pass_quote('', ' ')I am a college student and still have two years left and have already racked up 12,000 in student loans. I suppose if the whole economic system collapses I won't have to worry about it, but I am more afraid that if the market becomes to unstable I will be forced to pay these monies before I can complete college and thus will be prevented from finishing my education.

[mekrob]

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('', ' ')I am a college student and still have two years left and have already racked up 12,000 in student loans. I suppose if the whole economic system collapses I won't have to worry about it, but I am more afraid that if the market becomes to unstable I will be forced to pay these monies before I can complete college and thus will be prevented from finishing my education.

[jasonraymondson]

So true mekrob.

I am not sure how anyone is getting it now, since they have already spent it on the war

[Chuckmak]

roccland's dick got hard at the latest financial news



ion't blame him though...this is doomer porn at its finest!

[Battle_Scarred_Galactico]

I think I am getting a better education on here. If not slightly nuttier at times.

Many 'experts' are only interested in covering their their own asses and keeping a politically correct line going. They are worse than useless.

Of course on here everyone has their own agenda, but the lack of PCness and willingness to call things as they are gives you access to far clearer information.

[Twilight]

As with the bio-lab in the UK, the containment is spreading.

[RdSnt]

I'm using Naomi Klein's designation here because I believe it is appropriate to what Paulson is doing.
Based on the preliminary reports on what Paulson will be proposing, the results will be a large stake through what remains of the capitalist system in the US.
This process will solidify hold of the private institution, the Federal Reserve, on the financial reins of power, leaving the elite of the banking industry in complete control of regulation and management of the US economy.
With the states regulators answering to Fed regulation, the US won't even be a republic any more.
See the other thread I started about Fascist America, Paulson is making a very significant contribution to that process.

[gampy]

I would definitely say that elements of corporate US are using the current "crisis" to ram some rather odd policies through, in the name of saving the financial system.

[jedinvest]

Didn't these same corporate elements cause this crisis to begin with? Of course, the Bush administration was always about privatizing/corporatizing the U.S. government. They always just conveniently need some excuse, usually self-generated or allowed to happen, to push through their agenda.

I must say that I do get the impression that capitalism just wants to self-destruct, as long it is has control in the end. Sort of like the selfish-gene that wants to reproduce until it is somehow prevented from doing so.

[hornofhubris]

Let's see, the striving of international bankers and investment
companies to creatively outrun and outwit national or regional
regulation led to outrageous and secretive behavior that has
almost destroyed their industry. So to cure this, we must now
relinquish our regulation so they no longer have to evade
regulation and accounting, they simply regulate and account
to each other. Our part is to simply inject the funds to get
these wonderful folks back on an even keel again and
march out en mass and spell thank you with our bodies
on large flat expanses of turf so they can see it when they
fly over in their Learjets.

That is so fucking awful it isn't even wrong. You know what
that means, don't you? Congress will jump right on it.
Corn, wheat, soybeans, financial cancer, it's going to be
a bumper crop this year.

[catbox]

Watched a good interview today with Loretta Napoleoni...she wrote
"Rogue Economics". Here's the link to the transcript:

http://www.democracynow.org/2008/3/31/l ... apitalisms

Enjoy!

cb

[Kaj]

$this->bbcode_second_pass_quote('hornofhubris', ' ')Our part is to simply inject the funds to get
these wonderful folks back on an even keel again and
march out en mass and spell thank you with our bodies
on large flat expanses of turf so they can see it when they
fly over in their Learjets.

[mattduke]

Not a matter of if but when.

http://www.bloomberg.com/apps/news?pid= ... refer=home

[3aidlillahi]

That's quite a predicament the Gulf states find themselves.

If they stick with the pegs, they risk inflation destroying their economies and forcing irritation and unpleasantries in their nations.

If they get rid of the pegs, they risk inflation crumbling the US economy with the possibility of military intervention and very likely the tumbling of the price of oil (caused by the drop in US economy).

In the end, the pegs have to go. What's important is that they happen slowly and not suddenly or all at once. If they all drop them, then the US dollar will be in free fall mode. But who would want to be the one holding depreciating dollars just to appease* Americans?

*Oh yeah, Appeasement is bad, right?

[DantesPeak]

Well I agree they're going to go. It's just a matter of time. Who wants to be the last person on board the Titanic, but sinking USS Dollar when it goes down?

Let me people go Qatar says, and even Paulson agrees.

$this->bbcode_second_pass_quote('', 'P')aulson Says Gulf Dollar Peg A Sovereign Matter

By REUTERS
Published: June 1, 2008
Filed at 8:13 a.m. ET

DOHA (Reuters) - Gulf oil producer Qatar is free to drop its peg to the U.S. dollar to tackle inflation, U.S. Treasury Secretary Henry Paulson said on Sunday.

He also said so-called sovereign wealth funds were mainly seeking investment returns rather than political goals on behalf of their governments.

Qatar needs to drop its peg to the dollar because the Gulf state's economy is surging while that of the United States is slowing, London-based MEED reported on late on Friday, citing the economic adviser to Qatari ruler.

"This is a sovereign decision," Paulson told reporters in the Qatari capital, Doha, after meeting the country's prime minister and central bank governor. "It has to do with the economic issues here."