.
May 12, 2009
SouthAmerica: Reply to Mav88
Here is another posting of mine on this forum on the same subject.
*****
September 18, 2008
SouthAmerica: I should not be writing right now because I am very angry with the bullshit I heard on CNN from the politicians who just finished an emergency meeting in Washington D.C. about the current financial crisis.
Those politicians in Washington D.C. are completely worthless and they are not worth even the food that they eat every day. What a bunch of idiots we have running this country today.
To make things even worse as usual the US mainstream media is missing in action.
Nobody (with the exception of maybe Lou Dobbs) is watching the store and trying to talk on behalf of the average middle class American person.
If Americans had any understanding of what is happening right now they would be on the streets and they would be staging major demonstrations to stop the destruction of the last safety nets that we have here in the United States.
Those idiots including Treasure Secretary Paulson came out of their emergency meeting and Paulson said that they were moving very fast to come up with some quick solutions to fix the current financial crisis.
Let me translate to the American people in plain English what those bullshit artists are trying to do to the American people.
After enriching themselves for many years beyond their wildest dreams these bullshit artist in Wall Street want to pass to the American taxpayer the toxic waste and massive losses that they created in financial markets (today the Financial Times â UK â had an article by Harvard University economics professor Kenneth Rogoff that estimates the current bailout could cost $ 1, or $ 2 trillion US dollars or even more because nobody really knows what kind of losses are in the pipeline related to losses in the Derivatives market - a market that is unregulated, out of sight and operating in automatic-pilot and also losses related to the sub-prime mess.)
Now you ask me why the American people should be having major demonstrations all around the country to stop all this non-sense that is going on with taxpayer money?
First we are at a point in American history that is not business as usual as they want people to believe. Some of these people mentioned the financial messes of the past like the Savings and Loans fiasco of the late 1980âs and the stock market crash of 1987, and so onâ¦.
What is different at this time from any other financial crisis in the past?
The United States government never had so much cumulative outstanding debt in the past as it is the case today - as of September 18, 2008 the cumulative debt of the US government is $ 9.7 trillion dollars.
The US government is spending a fortune with the wars in Iraq and Afghanistan and a very reputable economist a Nobel Economics Prize winner Joseph Stiglitz wrote a book published in 2008 âThe Three Trillion Dollar Warâ â on his book he gives an estimated cost of these wars. And nobody really knows what is going to be the total tab for these wars.
The United States government has a ton of new liabilities coming due in the near future related to the Baby Boom generation that it is very conservatively estimated at over $ 50 trillion dollars.
The US government already has assumed trillions of new liabilities when the government nationalized Fannie and Freddie and also bailout Bear Stearns and AIG and God knows which other corporations are going to be bailout in the near future.
It is estimated that in the coming years the US government deficit spending is going to continue at a rate of over $ 500 billion dollars per year that will pile up on top the current cumulative outstanding debt of the US government.
Every 2 years the United States will increase its cumulative debt by another $ 1 trillion dollars â that means the cumulative debt of the US government is going to grow very fast to $ 12 and $ 14 trillion dollars.
Because of the level of outstanding debt of the US government very soon interest rate will increase in the US market to keep the US dollar from collapsing in world markets.
And when that happens the amount of interest rate paid on an annual basis on the outstanding cumulative debt of the US government is going to explode and it is going to take larger and larger pieces of the annual budget of the US government.
If the American people donât wake up in time and start demonstrating around the country and ask the US government to stop this massive transfer of toxic waste and gambling losses from Wall Street to the lap of the taxpayers â then the net result is that as this massive amount of gambling losses are transferred to the US taxpayer the Wall Street bullshit artists besides laughing all the way to the bank they also are going to move on and create their next scam.
And if the American people allows the US government to create this new toxic waste dump for Wall Street garbage to the tune of trillions of US dollars â then Americans deserve what is going to happen to them in the future when the US government starts cutting their Social security, Medicare, and Medicaid benefits to the bone.
There is no two ways about it in a nutshell: Wall Street pass their gambling losses to the American taxpayer at the expense of major cuts in Social Security, Medicare, and Medicaid.
If what Americans want is to go straight to the poor house then they are going to get their wishes very soon.
Not a single person on the mainstream media has been able to connect the dots and have mentioned to the American people what is at stake with the shenanigans that is happening in Washington D.C. and Wall Street.
It does not matter if you are a Republican or a Democrat you all have grandparents , or your parents, or even yourself to consider â the Bush administration is destroying the entire economic system of the United States and right now they are going to destroy indirectly the Social Security, Medicare, and Medicaid Systems. And that is going to affect the lives of every American in the coming years.
If Americans do nothing at this time that will show to the world how Pathetic the American population has become and they deserve to lose every safety net that still available today.
If Americans want to fight for their Social Security, Medicare, and Medicaid benefits the time is now and people should make a major effort to stop the US government from creating this graveyard to bury the massive gambling losses of Wall Street at taxpayers expense to the tune of trillions of dollars.
If the American people don't fight back that just demonstrate how dumb, and stupid the American taxpayer has become.
http://www.elitetrader.com/vb/showt...ghlight=destroying+the+safety+net#post2076938
.
May 12, 2009
SouthAmerica: Reply to Mav88
Here is another posting of mine on this forum on the same subject.
*****
September 18, 2008
SouthAmerica: I should not be writing right now because I am very angry with the bullshit I heard on CNN from the politicians who just finished an emergency meeting in Washington D.C. about the current financial crisis.
Those politicians in Washington D.C. are completely worthless and they are not worth even the food that they eat every day. What a bunch of idiots we have running this country today.
To make things even worse as usual the US mainstream media is missing in action.
Nobody (with the exception of maybe Lou Dobbs) is watching the store and trying to talk on behalf of the average middle class American person.
If Americans had any understanding of what is happening right now they would be on the streets and they would be staging major demonstrations to stop the destruction of the last safety nets that we have here in the United States.
Those idiots including Treasure Secretary Paulson came out of their emergency meeting and Paulson said that they were moving very fast to come up with some quick solutions to fix the current financial crisis.
Let me translate to the American people in plain English what those bullshit artists are trying to do to the American people.
After enriching themselves for many years beyond their wildest dreams these bullshit artist in Wall Street want to pass to the American taxpayer the toxic waste and massive losses that they created in financial markets (today the Financial Times â UK â had an article by Harvard University economics professor Kenneth Rogoff that estimates the current bailout could cost $ 1, or $ 2 trillion US dollars or even more because nobody really knows what kind of losses are in the pipeline related to losses in the Derivatives market - a market that is unregulated, out of sight and operating in automatic-pilot and also losses related to the sub-prime mess.)
Now you ask me why the American people should be having major demonstrations all around the country to stop all this non-sense that is going on with taxpayer money?
First we are at a point in American history that is not business as usual as they want people to believe. Some of these people mentioned the financial messes of the past like the Savings and Loans fiasco of the late 1980âs and the stock market crash of 1987, and so onâ¦.
What is different at this time from any other financial crisis in the past?
The United States government never had so much cumulative outstanding debt in the past as it is the case today - as of September 18, 2008 the cumulative debt of the US government is $ 9.7 trillion dollars.
The US government is spending a fortune with the wars in Iraq and Afghanistan and a very reputable economist a Nobel Economics Prize winner Joseph Stiglitz wrote a book published in 2008 âThe Three Trillion Dollar Warâ â on his book he gives an estimated cost of these wars. And nobody really knows what is going to be the total tab for these wars.
The United States government has a ton of new liabilities coming due in the near future related to the Baby Boom generation that it is very conservatively estimated at over $ 50 trillion dollars.
The US government already has assumed trillions of new liabilities when the government nationalized Fannie and Freddie and also bailout Bear Stearns and AIG and God knows which other corporations are going to be bailout in the near future.
It is estimated that in the coming years the US government deficit spending is going to continue at a rate of over $ 500 billion dollars per year that will pile up on top the current cumulative outstanding debt of the US government.
Every 2 years the United States will increase its cumulative debt by another $ 1 trillion dollars â that means the cumulative debt of the US government is going to grow very fast to $ 12 and $ 14 trillion dollars.
Because of the level of outstanding debt of the US government very soon interest rate will increase in the US market to keep the US dollar from collapsing in world markets.
And when that happens the amount of interest rate paid on an annual basis on the outstanding cumulative debt of the US government is going to explode and it is going to take larger and larger pieces of the annual budget of the US government.
If the American people donât wake up in time and start demonstrating around the country and ask the US government to stop this massive transfer of toxic waste and gambling losses from Wall Street to the lap of the taxpayers â then the net result is that as this massive amount of gambling losses are transferred to the US taxpayer the Wall Street bullshit artists besides laughing all the way to the bank they also are going to move on and create their next scam.
And if the American people allows the US government to create this new toxic waste dump for Wall Street garbage to the tune of trillions of US dollars â then Americans deserve what is going to happen to them in the future when the US government starts cutting their Social security, Medicare, and Medicaid benefits to the bone.
There is no two ways about it in a nutshell: Wall Street pass their gambling losses to the American taxpayer at the expense of major cuts in Social Security, Medicare, and Medicaid.
If what Americans want is to go straight to the poor house then they are going to get their wishes very soon.
Not a single person on the mainstream media has been able to connect the dots and have mentioned to the American people what is at stake with the shenanigans that is happening in Washington D.C. and Wall Street.
It does not matter if you are a Republican or a Democrat you all have grandparents , or your parents, or even yourself to consider â the Bush administration is destroying the entire economic system of the United States and right now they are going to destroy indirectly the Social Security, Medicare, and Medicaid Systems. And that is going to affect the lives of every American in the coming years.
If Americans do nothing at this time that will show to the world how Pathetic the American population has become and they deserve to lose every safety net that still available today.
If Americans want to fight for their Social Security, Medicare, and Medicaid benefits the time is now and people should make a major effort to stop the US government from creating this graveyard to bury the massive gambling losses of Wall Street at taxpayers expense to the tune of trillions of dollars.
If the American people don't fight back that just demonstrate how dumb, and stupid the American taxpayer has become.
http://www.elitetrader.com/vb/showt...ghlight=destroying+the+safety+net#post2076938
.
