Conquer Club

Did anyone listen to President Bush's speech? Did he just basically say that we are screwed?

That's not what I heard. I heard "YOU"RE SCREWED!!!11!!!"

My Favorite was the after talk when the pundits were chatting about how fucked this country is and how this was going to impact the presidential candidates for 2008, the streamer at the bottom of the screen was posting headlines about how Russia was in Nicaragua planning on upgrading its Military. Red Dawn indeed!

WOLVERINES!!!

F1fth wrote:WOLVERINES!!!

LOL, hell yes!

I would like a link to the video to hear this supposed "Screwed" speech.

Hologram wrote:I would like a link to the video to hear this supposed "Screwed" speech.

um, google it?

So was that like, junior George's farewell speech? "Well folks, it's been fun, heh heh, but, erm, * * heavy on the phony Texas accent * * . . . Yerrr Skrooooooood.


Honibaz

Nah. It's more like a feeble last attempt to create a legacy for himself by saying that he has a plan and it will work, but in the meantime you all get to wear rags. Oh, and I won't be in office for more than three months, anyway, so my plan will never come to fruition.

Hologram wrote:Nah. It's more like a feeble last attempt to create a legacy for himself by saying that he has a plan and it will work, but in the meantime you all get to wear rags. Oh, and I won't be in office for more than three months, anyway, so my plan will never come to fruition.

Yes, definitely. I love his good 'ol boy, look the old simple American folk in the eye, and explain to them "all that crazy stuff on wall street" that they were probably only mildly worried about at 8AM this morning, and now they are tossing and turning in their beds ready to race to the bank in the morning to pull out all their savings. LOL

I like the way he said that the FDIC has been around for 75 years, and has never lost a dollar of insured deposits. Well, GM is 100 years old, and not all deposits are insured folks.

This is a kick back to the end, and he has stuck McCain against a rock and a hard place. McCain first was against a bail out, but his reversed position could be due to 2 things... 1) he is falling in line because he realizes that if the money goes out the door and the markets aren't convinced that the next president is also commited, then you might as well throw that money down the toilet... or either 2) he is also a sissy and peeing in his pants from Bernanke and Paulson's laughable attempt to "throw money at the problem", just like the state department did in Iraq for years without an "exit plan"... here we see it again, exit plan = hope it all works out. Bad Ideal. Scare people into thinking the world is going to end. Might work if your trying to get a blank check authorization to use military force in a third world country but VERY VERY VERY VERY VERY bad plan for calming the capital markets.

BTW, as I said elsewhere, this "crisis" has been going on for over a year now. We have limped along with "tight" credit markets for a while now. And the American consumer has a good ability to get credit spending under control gradually at this point, particularly if there is some sound policy behind mortgage reform, like "stay in your home" tax credit for the loss of value in your home without needed to sell to realize that loss... kinda like what they plan to do for institutions holder GSE paper I believe....

Anyway, I got a simple idea out why all of the stuff is getting tighter in the CP markets. If you make in the $100-200K range, go look at your pay stub and check the 401K line. And remember that unless you have a really bizarre plan, that money that you send into the plan gets force fed into the CP market, i.e., creating some minimum threshold of liquidity for the Money Funds to meet their redemptions without the fire-sale of the toxic paper they might be holding (i.e., an ability to "wait it out"). But by year end, the folks who are putting in the 401k plans have begin to max out. The pipe of liquid funds dries up, but redemptions keep coming, so the toxic shit has to get sold at a big discount, and when others financial market players see that happening, they crap their pants because they are holding tons of the shit too. Very simple explanation... money in, money out. No money in, then no money out.

He said that normally he did not think it was the place of Government to "bail out a private enterprise" but that this was no normal situation. He said that because a few companies had grown so large that their failures could impact the world, that even though the people running those companies had acted irresponsibly the government should buy up the bad debt and bail them out. He said in the short run this was a good thing and that 'merican tax dollars spent now would 'prolly be returned later when these assets could be sold off in "better financial times."

He did not say what the longterm effects of this action might be, he did not say that those who "acted irresponsibly" would be held accountable for their actions. He did not say that CEOs of these banks and corporations in financial dire straits have been making extremely large financial donations to both political parties and Congress in recent years.

My feeling is that Washington is trembling at the global happenings around us. North Korea kicks nuclear inspectors out, likely resuming their nuclear weapons program, Iran celebrates "nuclear day" and Russia courts Nicaragua and Cuba, seeking to reunite old ties that have dissolved with the passing of the Soviet Union. These actions are all very disturbing indeed, but the timing of it with our nation's internal financial bust are most troubling. Our enemies are capitalizing on the situation and our political leaders know it.

This all started with Sept 11, of course. That was the initial shock wave that rippled through our economy. It showed us that we are not as invincible as we thought, not unlike that day when you as a human being first realize that you are not immortal. As much as I hate to say it, because I believe that it will not work, that for the long term, it is terrible for the future of this company, er, I mean country, but I think that there is little choice in the matter because to do nothing will mean that we are utterly exposed to the enemies that are circling us now.

I sure hope that they know what they are doing, because it appears that, today, there is a lot riding on it. Our president (of whom my little 2 year old daughter kept saying "monkey talking") DID say that our country is in danger. I think that was the most pertinent thing that he said last night.

oVo wrote:He did not say what the longterm effects of this action might be, he did not say that those who "acted irresponsibly" would be held accountable for their actions. He did not say that CEOs of these banks and corporations in financial dire straits have been making extremely large financial donations to both political parties and Congress in recent years.

Section 8 of the bailout plan says no one can or will be held accountable.

black elk speaks wrote: it is terrible for the future of this company, er, I mean country, but I think that there is little choice in the matter because to do nothing will mean that we are utterly exposed to the enemies that are circling us now.

Well, at least we have strong allies. Our global assets are exposed right now... But not our nation.
Kinda like the Soviet Union, even if we fall tommorrow, we still have our defenses. Stockpiles of them.

DaGip do you listen to genisis or thepowerhour? They are issuing full battle dress and calling up certian elements of our military. Homeland Defence elements...
Alex Jones also had a memo alledgedly from the Secretary of the Navy requestiong that the Coast Guard be called up as a member of the armed forces....
We're in a lot of trouble!


PS, Bush said that it's time to PANIC!

It's not time to panic... it's time to let calm rational minds prevail.
I just hope there are a few of those available to sort this shit out.

There are a lot of things included in the current "bailout plan" that will be omitted before it will be approved.

I'll only panic if it passes. Or if the troops are brought in against the people.
Bush made it sound like this has to be done, or banks will fail.... I think he is trying to scare the public into going in line with this plan. I don't think he was telling us to panic, I think that he is trying to scare the public into going along with this.


The 30th of Sept. is the end of the fiscal year...
The money has to be out by then.

20,000-30,000 troops from Virginia, a medical Brigade from Fort Hood, and an Aviation Combat Brigade Fort Bragg North Carolina, are being brought to Fort Stewert Georgiafor, for "deployment exercise" within this country. They'll be running these exercises through September.

According to the Army Times:
3rd infantry is also being brought back from Iraq as an "on call federal response force." "CCMRF" Look it up.
But they have a non-leathal package.

Juan_Bottom wrote:

oVo wrote:He did not say what the longterm effects of this action might be, he did not say that those who "acted irresponsibly" would be held accountable for their actions. He did not say that CEOs of these banks and corporations in financial dire straits have been making extremely large financial donations to both political parties and Congress in recent years.

Section 8 of the bailout plan says no one can or will be held accountable.

black elk speaks wrote: it is terrible for the future of this company, er, I mean country, but I think that there is little choice in the matter because to do nothing will mean that we are utterly exposed to the enemies that are circling us now.

Well, at least we have strong allies. Our global assets are exposed right now... But not our nation.
Kinda like the Soviet Union, even if we fall tommorrow, we still have our defenses. Stockpiles of them.

DaGip do you listen to genisis or thepowerhour? They are issuing full battle dress and calling up certian elements of our military. Homeland Defence elements...
Alex Jones also had a memo alledgedly from the Secretary of the Navy requestiong that the Coast Guard be called up as a member of the armed forces....
We're in a lot of trouble!


PS, Bush said that it's time to PANIC!

I don't know where those shows are. If they have an online presence, please post a link.

But did you read the part in the initial article where Russia is basically telling Europe to stay out of the dispute? Europe depends on Russia for a substantial amount of energy. Its kind of a bad situation.

Basically, its coming down to it. This is the onset of WW III I think.

He said:

My plan worked. My buddies made a fortune. We have a pile of cash saved up. Now, land will be worthless, people will get paid almost nothing for their jobs. We can charge more taxes from them because of the fiscal emergency. In ten years time, our wealth will be unimaginable.

I have successfully undone what our silly forefathers intended which was to put the power in the hands of the people.

And you all thought I was stupod.

black elk speaks wrote:

Hologram wrote:I would like a link to the video to hear this supposed "Screwed" speech.

um, google it?

He did not use those exact words, but NPR (National Public Radio) Morning addition had excerpts. He said we are in dire straights and that unless action is taken immediately, the entire economy will collapse.

No one disagrees that something needs doing, but many in congress are reluctant to just pass Bush's plan "as is".

Think about it ... we are being asked to foot roughly $3000 EACH operson, (including babies) whle CEO's of companies, under Bush's plan, are still allowed to collect their full paycheck of around 20,000,000 -40,000,000 EACH. Bush and his cronies claim that placing limits on these paychecks or bonuses of any kind will "make some companies turn away from the package"

GIVE ME A BREAK!!!! It seems that it is only we poor folks who have to fiscally responsible... everyone else NEEDS to be supported, because they buy so much more than we and their paychecks will just naturally "trickle down" to us.... (my summary of Bush's economic plan!).

Meanwhile, my husband works over 40 hours a week in a SKILLED position, volunteers as a fire chief, as a boy scout leader, Little league coach, football coach, ETC.... and the only reason we don't qualify for reduced lunches with 2 kids is that he gets a small stipen for being fire chief ... a whole $125 quarterly ... never mind that he spends more than that in gas. (that and though we pay out child support ... as he should! ... we don't get to deduct that money NOR do we get to count the stepkids as dependents ... to contrast, the custodial parent gets that money tax free AND, though it is there to help with expenses, it does not count as "income" for reduced lunches, WIC, medical assistance, etc. --- so if you have kids, make sure you don't get married ... THAT is the message of the US Government apparently!!!)

BUT yeah... WE don't really contribute to the economy. WE are just a drain!

black elk speaks wrote:

Juan_Bottom wrote:

oVo wrote:He did not say what the longterm effects of this action might be, he did not say that those who "acted irresponsibly" would be held accountable for their actions. He did not say that CEOs of these banks and corporations in financial dire straits have been making extremely large financial donations to both political parties and Congress in recent years.

Section 8 of the bailout plan says no one can or will be held accountable.

black elk speaks wrote: it is terrible for the future of this company, er, I mean country, but I think that there is little choice in the matter because to do nothing will mean that we are utterly exposed to the enemies that are circling us now.

Well, at least we have strong allies. Our global assets are exposed right now... But not our nation.
Kinda like the Soviet Union, even if we fall tommorrow, we still have our defenses. Stockpiles of them.

DaGip do you listen to genisis or thepowerhour? They are issuing full battle dress and calling up certian elements of our military. Homeland Defence elements...
Alex Jones also had a memo alledgedly from the Secretary of the Navy requestiong that the Coast Guard be called up as a member of the armed forces....

We're in a lot of trouble!


PS, Bush said that it's time to PANIC!

I don't know where those shows are. If they have an online presence, please post a link.

But did you read the part in the initial article where Russia is basically telling Europe to stay out of the dispute? Europe depends on Russia for a substantial amount of energy. Its kind of a bad situation.

Basically, its coming down to it. This is the onset of WW III I think.

Sure, this morning on the show a lady who just retired out of the military called in and said that they've been chipping troops for a while now, they were doing in in Anthrax shots. She was anon, but sounded credible...
I bring up thepowerhour, because they are very non-threatening, so lots of military people call in. Plus they've been saying that this is going to happen for like a year now. They've also been telling people to plant gardens and buy all the food that they can...
You can go to
thepowerhour.com
9 out of 10 people listen to thepowerhour on Genisis(those not on shortwave). Alex Jones is also on this channel in the afternoon. He sounds nutso, but he's been right about some crazy-CRAZY, stuff before, most notably spider-goats.
www.gcnlive.com/


I dunno about WWIII, but I can't say it's not a possability.

AAFitz wrote:He said:

My plan worked. My buddies made a fortune. We have a pile of cash saved up. Now, land will be worthless, people will get paid almost nothing for their jobs. We can charge more taxes from them because of the fiscal emergency. In ten years time, our wealth will be unimaginable.

I have successfully undone what our silly forefathers intended which was to put the power in the hands of the people.

And you all thought I was stupod.

Props to AAFitz for making me laugh.

PLAYER57832 wrote:GIVE ME A BREAK!!!! It seems that it is only we poor folks who have to fiscally responsible... everyone else NEEDS to be supported, because they buy so much more than we and their paychecks will just naturally "trickle down" to us.... (my summary of Bush's economic plan!).

Have you been following this? They keep blameing us. "There was no oversight in these financial dealings because the American people don't want any.""The American people don't want a big government."
They act like we don't and didn't want someone to be making sure that these guys follow the law.

According to Rassmusen, only 7%-28% of Americans favor the bailout. So I bet the Senate will pass it... and it'll glide through the Congress...
http://www.arguewitheveryone.com/econom ... -plan.html

And another thing. Isn't the fed owning our banks communism?

post removed by user

Statement from Ron Paul: Re: Bailout

--------------------------------------------------------------------------------

Wednesday, September 24, 2008

Dear Friends,

Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.

The events of the past week are no exception.

The bailout package that is about to be rammed down Congress' throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. Two weeks ago, financial analyst Jim Rogers said the bailout of Fannie Mae and Freddie Mac made America more communist than China! "This is welfare for the rich," he said. "This is socialism for the rich. It's bailing out the financiers, the banks, the Wall Streeters."

That describes the current bailout package to a T. And we're being told it's unavoidable.

The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!

The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.

Financial institutions are "designated as financial agents of the Government." This is the New Deal to end all New Deals.

Then there's this: "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." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.

Even some so-called free-market economists are calling all this "sadly necessary." Sad, yes. Necessary? Don't make me laugh.

Our one-party system is complicit in yet another crime against the American people. The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we're supposedly presented with this November: yes or yes. Now, with a backlash brewing, they're not quite sure what their views are. A sad display, really.

Although the present bailout package is almost certainly not the end of the political atrocities we'll witness in connection with the crisis, time is short. Congress may vote as soon as tomorrow. With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.

The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?

Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.

In liberty,

Ron Paul

Juan_Bottom wrote:Statement from Ron Paul: Re: Bailout

--------------------------------------------------------------------------------

Wednesday, September 24, 2008

Dear Friends,

Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.

The events of the past week are no exception.

The bailout package that is about to be rammed down Congress' throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. Two weeks ago, financial analyst Jim Rogers said the bailout of Fannie Mae and Freddie Mac made America more communist than China! "This is welfare for the rich," he said. "This is socialism for the rich. It's bailing out the financiers, the banks, the Wall Streeters."

That describes the current bailout package to a T. And we're being told it's unavoidable.

The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!

The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.

Financial institutions are "designated as financial agents of the Government." This is the New Deal to end all New Deals.

Then there's this: "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." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.

Even some so-called free-market economists are calling all this "sadly necessary." Sad, yes. Necessary? Don't make me laugh.

Our one-party system is complicit in yet another crime against the American people. The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we're supposedly presented with this November: yes or yes. Now, with a backlash brewing, they're not quite sure what their views are. A sad display, really.

Although the present bailout package is almost certainly not the end of the political atrocities we'll witness in connection with the crisis, time is short. Congress may vote as soon as tomorrow. With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.

The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?

Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.

In liberty,

Ron Paul

I didn't receive that email...is that from Campaign Liberty?

Get over yourself. This is not the beginning of WWIII, it is the collapse of the empire. No one is going to attack us when we are doing such a good job of destroying ourselves.

Sic Heil Bush

What a dipshit he has turned out to be.

DaGip wrote:I didn't receive that email...is that from Campaign Liberty?

How did you know?
I pulled it straight off their website though. They didn't send it to me either.





A deal IS being struck....?
http://news.aol.com/article/lawmakers-r ... 1200606976

Sen. Richard Shelby of Alabama, the top Republican on the Senate Banking Committee, emerged from the White House and said the announced agreement "is, obviously, no agreement."

This is madness. They are going to give him just what he wants. It's just a battle to see how much they give him.