“I believe if the credit markets are not functioning, that jobs will be lost, that our credit rate will rise, more houses will be foreclosed upon, GDP will contract, that the economy will just not be able to recover in a normal, healthy way.”
That was Ben Bernanke, the Fed's chairman on Tuesday, in an attempt to strong-arm Congress into handing over the keys to Fort Knox, in a manner of speaking.
What pops out at me in all their dire warnings, his and Paulson's and anyone else's ammunition they pull out of their holsters is that such predictions may be taken another way...as threats and promises.
He speaks of "normal and healthy"? Like that's how it was before this emergency was recognized? So this means that a return to the creed of greed that Wall Street has always operated under will tell us when things are hunkey dorey normal again?
Years ago I used to watch The Bold and the Beautiful, in hopes that one day I'd figure out who was bold and who was beautiful. Never did, no matter how many episodes I watched, so I gave up in despair.
The question haunts me to this day.
Now, the day is late, and if I've got to figure out who's normal and who's healthy on Wall Street, well, like David Letterman says, it just gives me a headache.
Yet one thing I do know after the Paulson-Bernanke tag team got done scaring the pants off our Washington puppets like cats arguing with tiny little mice...it's really the banking crowd who are the bold ones.
6 comments:
I have to wonder what this plea for the 700 billion $$ is really about. I just simply felt that what is being presented is a guarantee that it will not be approved. Is this a cover for when the real truth is revealed? the truth that we are broke and we allowed people who are afraid of our neighborhood to destroy us.
Further more this summer when Oakland was saturated with news of annonymous shootings killing innocent people I came to intuit that Oakland and Alameda County citizens were being set up to accept martial law. Why did I 'see' things that way? Because the shooter(s) was riding up one side of the street and then down the other side shooting. I just knew then that the shootings were military actions.
Well I smell something going on here-this request is meant to be declined. My question is what is the real point of all of this?
WALL STREET's RECKONING!
(Yet, it Took 10 Years to Raise MinWage $1.00)
http://www.youtube.com/watch?v=S27yitK32ds
"Rule one: Rush the decision. Time the game to fall in the week before Congress is set to adjourn and just 6 weeks before an historic election so your opponents will be preoccupied, pressured, distracted, and in a hurry.
Rule two: Disarm the public through fear. Warn that the entire global financial system will collapse and the world will fall into another Great Depression. Control the media enough to ensure that the public will not notice this. Bailout will indebt them for generations, taking from them trillions of dollars they earned and deserve to keep.
Rule three: Control the playing field and set the rules. Hide from the public and most of the Congress just who is arranging this deal. Communicate with the public through leaks to media insiders. Limit any open congressional hearings. Communicate with Congress via private teleconferencing calls. Heighten political anxiety by contacting each political party separately. Treat Members of Congress condescendingly, telling them that the matter is so complex that they must rely on those few insiders who really do know what's going on!"
Hi anonymous, thanks for your comment...it will be passed with or without protections for the people.
Congress seems to love handing Bush-Cheney blank checks for billions.
As you know, it's the peoples' needs they "can't afford" - and they're passing out our money!!!!!
Thanks, bacalove, I like how you lay out their playbook - and thanks for the link! jude
Jude- anonymous is me, Clymela, don't know how I got through as anonymous. I have heard people on the MSM saying that the $700 Billion is just a guess that no one knows what the real situation is.
I am feeling an intuition that says that there is somethng else underneath this.
Happy wedding and hope and love to the couple.
Clymel! if you're 'anonymous' you sure get around - i see ou all over the interweb! ;p
Yes, there is lots underneath which is why it concerns me that Congress will end up pulling out their rubberstamp. Wouldn't surprise me if they upped the ante.
Thanks so much for the well wishes! jude
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