Rep. Ron Paul says the government’s solution to the crisis is the same as the cause of it — too much government.
(CNN) — Many Americans today are asking themselves how the economy got to be in such a bad spot.
For years they thought the economy was booming, growth was up, job numbers and productivity were increasing. Yet now we find ourselves in what is shaping up to be one of the most severe economic downturns since the Great Depression.
Unfortunately, the government’s preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention.
This child just forgot to add Bush, Cheney, McCain, Clinton, Paulson etc.
The other side of the shirt should read: “Ron Paul, Freedom’s Best Friend.”
An 11-year-old boy in Colorado was suspended from school after he refused to take off a shirt that read, “Obama is a terrorist’s best friend.” His father says that the school is violating his son’s First Amendment rights.
Daxx Dalton, a fifth grader at Aurora Frontier K-8 School in Aurora, Colo., wore the homemade shirt on a day when students were asked to show their patriotism by wearing red, white and blue, according to MyFOXColorado.com.
When he was given the choice of turning the shirt inside out or being suspended, Dalton chose suspension.
“They’re taking away my right of freedom of speech,” he said. “If I have the right to wear this shirt I’m going to use it. And if the only way to use it is get suspended, then I’m going to get suspended.”
“One bank to rule them all;
One bank to bind them…”
These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation’s financial markets and the country’s economic future. Industry representative Henry Paulson has submitted legislation to Congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4′ by 6′ teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Banksters’ Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.
“All Hail Caesar!” The days of the republic are over.
Section 8 of the proposed legislation says it all:
“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Investment banks Goldman Sachs and Morgan Stanley have been put under Federal control as part of a package aimed at rescuing the US finance system.
The move not only puts the two financial services giants under the direct supervision of bank regulators but also gives the Fed the power to force the banks to raise additional capital.
The US administration wants to prevent the collapse of two of Wall Street’s remaining investment banks after the fall of Lehman Brothers and the government-funded bailouts of Bear Stearns, Merrill Lynch and global insurer AIG.
So Israel and/or the US might nuke Iran to prevent Iran from developing a nuclear weapon? How can you even come up with such madness? Are there so many potential Hitlers walking the face of the earth these days?
Military intelligence: Iran halfway to first nuclear bomb
Iran is halfway to a nuclear bomb, and Hizbullah, Hamas and Syria are using this period of relative calm to significantly rearm, Brig.-Gen. Yossi Baidatz, the Military Intelligence’s head of research, told the cabinet Sunday during a particularly gloomy briefing on the threats facing the country.
Ahmadinejad: We’ll stop any attacker
Baidatz said there was a growing gap between Iran’s progress on the nuclear front and the West’s determination to stop it. “Iran is concentrating on uranium enrichment, and is making progress,” he said, noting that they have improved the function of their 4,000 centrifuges.
According to Baidatz, the Iranian centrifuges have so far produced between one-third to one-half of the enriched material needed to build a bomb.
“The time when they will have crossed the nuclear point-of-no-return is fast approaching,” he said, though he stopped short of giving a firm deadline. Last week in the Knesset’s Foreign Affairs and Defense Committee, however, he put the date at 2011.
Pakistan will not tolerate any infringement of its territory in the name of the war on terror, president Asif Ali Zardari said today in a clear warning to US forces who in recent months have increasingly crossed the border to kill Taliban and al-Qaeda terrorists.
Mr Zardari was making his first major address since being elected president earlier this month. He also pledged that Pakistan would fight terrorists based on its soil, and he promised that his own powers would be cut back.
In recent weeks unmanned Predator drones and even special forces have staged a number of attacks across the border from Afghanistan on terrorist targets, a sign of growing US frustration at the training camps and sanctuaries which have been out of their reach and, for the most part, untroubled by Pakistan’s own military.
The Pakistani President, Prime Minister and military chief of staff were due to attend a banquet at the Marriott Hotel in Islamabad, where bombers killed at least 53 people, but a last-minute change of venue saved them.
The disclosure that the leadership of the country was the likely target of the attack on Saturday came as militants kidnapped Afghanistan’s top diplomat in the country and British Airways suspended all flights to and from Pakistan because of security concerns.
Most economists don’t want it (see this and this).
Many congress people don’t want it (see here and here).
So who wants the bailout?
The only people who want it are the big money boys, the ultra elite, including the Wall Street fat cats and Fed who got us into this mess, and their counterparts abroad who would also be bailed out (see this and this).
It is literally America versus the financial elite.
Posted by George Washington
Monday, September 22, 2008
BEIJING (AFP) – China’s tainted milk scandal spiralled into uncharted territory Monday with the government announcing that up to 53,000 children had been sickened and its top product-quality inspector sacked.
In a dramatic update of previous figures, the health ministry said a total of 52,857 children were taken to hospital after drinking milk thought to have been contaminated by the industrial chemical melamine.
Most had “basically recovered” after developing kidney stones, the main symptom of drinking the tainted milk, but 12,892 of them remained in hospital, a health ministry official told AFP.
U.S. one dollar bills are displayed for a photograph in New York, April 15, 2008. Photographer: Daniel Acker/Bloomberg News
Sept. 22 (Bloomberg) — Treasury Secretary Henry Paulson‘s plan to end the rout in U.S. financial markets may derail the dollar’s three-month rally as investors weigh the costs of the rescue.
The combination of spending $700 billion on soured mortgage-related assets and providing $400 billion to guarantee money-market mutual funds will boost U.S. borrowing as much as $1 trillion, according to Barclays Capital interest-rate strategist Michael Pond in New York. While the rescue may restore investor confidence to battered financial markets, traders will again focus on the twin budget and current-account deficits and negative real U.S. interest rates.
``As we get to the other side of this, the dollar will get crushed,” said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world’s biggest currency hedge-fund firm, which manages about $15 billion.