Posted 5 months ago on Dec. 3, 2012, 11:17 a.m. EST by WSmith
This content is user submitted and not an official statement
Late Sunday, US time
Far East stocks are up on news that China's economy is stabilizing. This positive activity is viewed in those markets as being 'capped' by the US budget impasse.
The so-called 'world' market is dependent on what the US does or doesn't do. The fact is that China is a oligarchy based on the Communist Party. They don't care what the US does other than what damage the US can do to them. China is not a slave to the illusions that the West chooses to live by. This doesn't predict an outcome over the long term, only a sign post to read.
Ha ha ha ha ha, roll on the floor
George Stephanopoulos came very close to making Timothy Geithner burst into laughter on network TV Sunday morning by asking him about the possibility that Obama would replace him with Wall Street banker Jamie Diamon. After Wall Street spent hundreds of millions to put Romney into the Presidency, Obama will put the head pirate into the Treasury Department? Ha ha ha ha ha....
George also asked if Senator McConnell actually laughed out loud when Geithner presented the President's tax plan. Geithner's response suggested that the Republicans are on the ropes and ready to compromise. In fact we should not 'compromise' with the people who have been stealing out wealth. Success will require having enough Americans aware of who the bad guys really are. Keep putting the truth out there. We will win, if we don't give up.
Cleaning up after the Trolls
A new Troll came through today, so I got out the shovel and wheelbarrow and waded in: [Sound familiar?]
"The more the govt. taxes, the more it spends. ... starve the out of control beast." on We are warm blooded, we are legion Except that the Federal Government is the smallest its been since 1952. The Billionaires want it small enough that they can kill it, then they will be the government, and the peasants will learn what the lash can teach them.
"'China graduates twice as many engineering students every year as we do.' So why does China steal our technology if this is true?" on The capitalists will sell us the rope with which to hang them No capitalist re-invents the wheel, or develops technology that he can steal from its rightful owner. You righties would call him a fool to do otherwise.
"Hoping the fiscal cliff starts on Jan. 1 .. have lots of cash to buy as others panic and run for the hills. .. Repeat of 2008-09, ... buy low, sell high." on The fiscal gentle slope Only a rightwinger would wish for catastrophe as a business opportunity. This dovetails with their belief that creating more poor people will benefit them. The only possibility of their being another 'bank panic' as in 2008 (Bush) would be from the collapse of the 'too big fail' banks again. This is a real possibility, but not from the Fiscal Bunny Slope.
"I say get rid of Walmart and all overseas merchandise. Made in America for all Your cheap underwear from Indonesia will now cost 5 times as much when made in USA. ... Sweet." on The Real Takers I guess he's trying to be sarcastic with this. Small problem, the cost of labor is only in the single digits in any manufactured product. If you think about it, it can't be more than that. Who would pay for everything else in the retail price of a product? It was never about making it cheaper, or making more money. They were doing incredibly well making products here. It's about destroying the middle class, capturing all the wealth for a handful of people, and consolidating absolute power for them. And that doesn't mean you, rightwing troll. If we liberals don't prevail, in the end you won't own your underwear, it will belong to your master.
"'The right-wing Elf of the Senate, John McCain, came out of his tree on Fox Sunday' ... I saw that lefty cockroach Harry Reid right behind him." on Don't eat his cookies I don't know how he even thinks this makes any sense.
Thursday, November 29, 2012
We are warm blooded, we are legion
Some people on the left are alarmed that Treasury Sec Timothy Geithner is leading negotiations to deal with the Fiscal Cliff (or the Fiscal Bunny Slope) being held between the Obama Adm and the Congress. Okay, he wouldn't be my pick, but he does have the expertise and the staff to deal with it.
Let's clear up a couple of things, Geithner never worked for a Wall Street bank. He was Governor of the NY Fed, which is largely responsible for riding herd on the the Wall Street banks, but that business was completely out of control before he got the job.
Now this doesn't prove anything one way or another, but Geithner was simultaneously on the board of the Bank of International Settlements (BIS). It was this body that pulled the plug on the Wall Street banks transferring money between banks in 2008 over their involvement in the selling of a quadrillion dollars ($1,000,000,000,000,000) worth of un-backed derivatives. This effectively froze the US banking system overnight. John McCain was caught completely flat footed by this move. He said when reporters asked him about the imminent end of Western Civilization, "the fundamentals of the economy are sound". Obama was not caught off guard, even though Obama has no experience or training in banking or economics. He seemed completely comfortable talking about it, just like he had been briefed. He did make Geithner Sec of the Treasury, typically a plum appointment given to an ally.
Okay, even if Geithner can't be trusted, Obama's Chief of Staff Jack Lew is himself an economist with experience in banking. He's also worked at the State Department, the Council of Foriegn Relations, Office of Management and Budget, and several other jobs that suggest that he's nobody's fool. He is also expected to replace Geithner in Obama's second term.
Anything that happens over the budget negotiations will be with Obama's full understanding. Even if Obama "gives in" to Republican demands for cuts, it's the timing you need to look at. If the 'cuts' are put in far down the road, they are like no cuts at all. Anything done now can be undone by any future Congress, good or bad. Since the Republicans are just a bunch of dinosaurs waving their tiny arms in the air as the asteroid approaches, we liberal mammals need not panic. If we stick together we will prevail.
at Thursday, November 29, 2012
The capitalists will sell us the rope with which to hang them
"The capitalists will sell us the rope with which to hang them", normally attributed to Lenin, maybe he said it, maybe not. However, the founder of the Koch dynasty made his fortune selling American oil technology to Stalin, and that allowed him to win WWII.
Prat & Whitney Inc. has admitted selling software to the People's Republic of China that allowed them to develop the the Z-10 Attack Helicopter. Equal to if not superior to American helicopters it advances China into the 21st century in a big way. Not that it gives China a head to head advantage over America, it's really just an example of American capitalists selling our only edge to China. Can you say 'treason'. Probably not, since you didn't hear it on the corporate news channels.
Let's be clear, this sort of super helicopter is the 'edge' that turns tank battles, or suppresses the rebellion that a repressive regime wants to put down. More disturbing is the fact that China was actually able to build them at all. It's not just propaganda, they've been demonstrating them in public. A helicopter that can do a four point roll at combat speed while carrying more ordinance than an F-18 is nothing to trifle with.
It shouldn't be any surprise, China graduates twice as many engineering students every year as we do. When you say one in a million, with four times our population, China knows how to use that to their advantage. The US doesn't make any real effort to recruit 'the best and the brightest'. China does this to perfection. In the US, math wiz students are recruited to develop algorithms that 'beat' the stock market. In China they are developing the next generation... of well, everything. Thirty years ago they were building steam locomotives, now they put people into space with ease. They are capable of shooting down our spy satellites, they can sink our aircraft carriers from 5000 miles away. They have more and better nukes than we have, and they are concealed them in a vast underground system we know little about.
Why are we in this position? Republicans believed in their arrogance that they would always be superior to the non-whites. They thought they were taking advantage of the little yellow people by selling the egg-head stuff they couldn't possibly understand. In fact they were just kidding themselves. In an effort to consolidate power away from the Middle Class, they gave it all to China. Is this position hopeless? With the defeat of Republicans in this election, it is isn't insurmountable. That doesn't mean the road ahead will be easy, it just means we have a chance. www.prairie2.com