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Here’s a perfect analogy for our recovery.
A program by U.S. states to give out food stamp debit cards has been contracted to J.P Morgan bank. This contracting has grown to 26 states and now includes child support and unemployment. A massive government program, no? No profits are enough for J.P. Morgan, who refuses to pay American workers, while outsourcing the contract to India. Didn’t get your food stamps? Talk to some schmuck from Bombay who learned english just so he could say “allow 4 -5 weeks for delivery”
http://theeconomiccollapseblog.com/archives/the-more-americans-that-go-on-food-stamps-the-more-money-jp-morgan-makes (11th Paragraph)
The commission appointed to study the credit crisis: The Financial crisis inquiry commission, Will release a report thursday saying that the crisis was avoidable. I say? <sarcasm> What? We aren’t going to blame black people for forcing bankers to give them fraudulent loans that ruined the mortgage market? </sarcasm>
http://www.consumeraffairs.com/news04/2010/10/racial-pattern-seen-in-mortgage-foreclosure-crisis.html (black or hispanic neighborhoods caused mortgage crisis)
Ok, we have the Commission saying that the Financial Crisis was avoidable, but what we really need is CHANGE. CHANGE brother. The same people, the same system, going to produce another PROBLEM.
http://news.morningstar.com/all/dow-jones/us-markets/201101251747/000427/panel-calls-financial-crisis-avoidable-casts-wide-blame-nyt.aspx
Let me introduce a short quote. What if you had a person who could keep the system from failing, who could pump more debt into the system, who could lock in all those profits that exist on fraudulent paper. You need someone who doesn’t care about long term effects of pumping new money into the market. Bernanke? That’s what Bernanke did. He kept the paper profits in the system by pumping public money into private banks. How much money was injected into the banks? I donno. To Try and find a banker that will talk? You can’t.
Putting Bernanke in charge means bailing out the banks instead of supporting Main Street.
“Bernanke’s whole academic career is not about how to prevent another Great Depression; it’s about how to prevent another New Deal”
http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=6108
Think about that quote. Trillions of dollars invested for political purposes. To keep wages DOWN and the “Money Bin” UP.
Another quote from the same interview, These people really want to lower wages, no matter what it takes!
“STOLLER: Yeah. I mean, and I think they want to suppress wages. And I point you to two examples. I mean, I’ll get to the Tea Party and what they think in a second. But Paul Volcker in the early ’80s–and this was in Bill Greider’s book Secrets of the Temple–used to carry around a list of union contracts and their wage demands. And he did it because he wanted to send a message to unions that wages were too high. And so he would know exactly what they were asking for. And when he had crushed the economy enough, he would know, because the list of union wage demands would change and would show that the unions had learned their lesson. And that’s what the Federal Reserve does and has done. And you can read the Federal Open Market Committee transcripts, which they release on a five-year time lag, and you can see this. I mean, they’re quite explicit about it. The 2005 transcripts just came out. And Dallas Fed president Richard Fisher was complaining in 2005 that American ports weren’t big enough to accept all the Chinese goods that wanted to come into America. And he was frustrated, because he was like, well, if we can’t import enough Chinese goods, then that’s going to mean that we’re going to have to make things here, and that’s going to put increased pressure on wages. And, you know, my question is sort of who are these guys actually working for, right? This guy wants to make everything in China because he thinks that’s going to help reduce wages here. I mean, they actually want to reduce wages, because they see that as their job.”
http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=6108
Matthew 6:24 (Quoting Jesus Christ)
“No one can serve two masters. For you will hate one and love the other; you will be devoted to one and despise the other. You cannot serve both God and money.”
A corollary of this, is we can’t possibly vote for both profits from globalism, and “Jobs”
2 Comments
Change? Loose change is about all we can expect from Barry and his handlers.
The point is not to let Barry and his handlers manhandle us any longer.
Less bitching, griping and puffery on our our side – we know all we need to to know. More organizing of protests telling them we know the game and we don’t plan to play it.