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Stock Market Loses $1 Trillion in Three Days

More bad news on the economic front. The Dow Jones dropped more than 410 points today.

The Dow Jones industrials dropped more than 410 points, and all the major indexes lost more than 4 percent. The stock market has lost about $1 trillion over the past three days, according to the Dow Jones Wilshire 5000 index, which reflects the value of nearly all U.S. stocks.

Among the reasons:

U.S. Treasury Secretary Henry Paulson said he was backing away from buying troubled mortgage assets and would focus on the capital needs of both banks and non-bank financial institutions.

[More...]

Another reason:

Paulson also announced a new goal for the program to support financial markets that supply consumer credit in such areas as credit card debt, auto loans and student loans. He said, "with a stronger capital base, our banks will be more confident" to support economic activity.

But investors are worried that a severe pullback in consumer spending — which drives more than two-thirds of the U.S. economy — will prolong a global economic downturn.

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  • Display: Sort:
    Toxic assets (5.00 / 1) (#4)
    by wasabi on Wed Nov 12, 2008 at 06:42:34 PM EST
    The original sum of $700B was to purchase toxic assets which we all were assured whould have to be done immediately to shore up the financial markets or the world would come to an end.  Now, not so much.

    I'd feel a whole lot better about this bailout if the foxes weren't in charge, but it appears (or so Paulson tells us) they are the only people who know where the bodies are hidden.

    Paulson exudes incompetence (5.00 / 2) (#5)
    by pluege on Wed Nov 12, 2008 at 06:53:20 PM EST
    he clearly belongs in a bush administration.

    Just as clearly we can kiss our cool $700 bil bye-bye without getting anything of value.

    Incompetence or Crookedness... (none / 0) (#15)
    by kdog on Thu Nov 13, 2008 at 07:56:20 AM EST
    He is a Goldman Sachs guy who cashed out for 50 million for a job not so well done.

    We may have witnessed, and be witnessing, your run of the mill "taking care of my cronies" government fraud.

    Parent

    Can't we all just get along?? (none / 0) (#20)
    by jimakaPPJ on Thu Nov 13, 2008 at 09:11:54 AM EST
    No one gets a pass on this mess, and that includes Barney "Everything is fine going forward" Franks and Chris "What a deal I got on my mortgage" Dodd.

    You can pick the Repub names. Not for what they did as much for their not raising enough h*ll when they had the chance!

    Parent

    Oh good grief Charlie DA.. (none / 0) (#25)
    by jimakaPPJ on Thu Nov 13, 2008 at 12:12:42 PM EST
    Next thing I know you will be telling us Hitler didn't invade Poland...

    Parent
    Slate... hmmm (2.00 / 0) (#29)
    by jimakaPPJ on Thu Nov 13, 2008 at 04:02:29 PM EST
    Wasn't that one of the sources that told us about Palin claiming her daughter's baby as hers?

    I mean we are who we hang with, right? (Sorry. I should remember that doesn't apply to Democrats.)

    ;-)

    Here we have what Barney said in response to Bush's 2003 go at fixing things.

    And here is what was said in 1999.

    ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''


    Parent
    No, I think one of their folks (none / 0) (#34)
    by jimakaPPJ on Thu Nov 13, 2008 at 10:35:32 PM EST
    passed it on... Poisoned water?? Yes it was but the Left still drank the Kool-aid.

    The fact remains that it was the housing bubble, if you can go all the way back until 2007 that started the market slide which caused people getting out of stocks and other "papers" and moving into commodities which drove up oil which hurt the economy.... Remember that as late as last April it appeared the problem was under control but the declining economy driven by oil prices going straight up burst even more of the bubble, etc., etc.  It became a daisy chain of significant size.

    Parent

    Yawn (none / 0) (#38)
    by jimakaPPJ on Fri Nov 14, 2008 at 08:38:16 AM EST
    Okay, the bubble started deflating in 2006.. So?

    From 1/2008 till 4/1 Oil went up slightly less than $5.00.

    Things looked better, not perfect but better.

    Then the oil rocket really took off in April... from around $98.00 on 4/1 to $146 by 7/15 a 49% increase in three and a half months..

    And the economy tanked.

    What happened to make the price sky rocket??

    Well, the Democrats blocked efforts to authorize opening up drilling in the US and the speculators figured they were safe.

    Why did it start going down??

    Bush rescinded the Ex. Order on drilling off shore.. Of course the Demos didn't do jack...

    Parent

    What happened... (none / 0) (#40)
    by kdog on Fri Nov 14, 2008 at 09:43:00 AM EST
    to make the price shkyrocket?

    Market manipulation more than anything.  Peep the cover story.

    Parent

    Reasons and reasons (none / 0) (#41)
    by jimakaPPJ on Sat Nov 15, 2008 at 07:03:43 PM EST
    And that could happen only because the speculators knew that the Demos wouldn't go along with off shore drilling and/or ANWR.

    The price started to come down after Bush did his thing.... about 8 years too late

    Parent

    From your own sources (none / 0) (#43)
    by jimakaPPJ on Mon Nov 17, 2008 at 09:39:31 AM EST
    You should learn not to show your hole cards.

    Essentially, their argument is that gasoline prices will go down if we lift the drilling ban. Another version of the argument is that gasoline prices would not be as high as they are now if we had lifted the ban at some point in the past.

    Don't look now but gasoline is about $2.00 a gallon lower. And the fall just happened to start when Bush lifted the executive order.

    Your source also shows 85 billions of oil off shore. That doesn't include oil shale, the Baken field (200 billion) or ANWR.

    And the off shore figure assumes that there will be no improvements in technology to find and recover oil.

    Based on that thinking the country ran out of oil in 1946. (Sarcasm alert)

    And your five years assumes no emphasis on the task.

    The oil is here, the technology is here. What is also here is a Left wing government that is determined to bankrupt the country to fight a man made global warming hoax and, per Nancy P, "save the planet" and make her richer.

    As reported on dontgomovement.com, Speaker Pelosi bought between $50,000 and $100,000 worth of stock in Pickens' CLNE Corp. in May 2007 on the day of the initial public offering:

    Is there a Special Prosecutor in the house?

    Snark away DA, one of the difference between us is that I don't play flush draws unless the odds are right. Of course you wouldn't understand such principles.


    Parent

    heheheh (none / 0) (#45)
    by jimakaPPJ on Tue Nov 18, 2008 at 10:21:01 AM EST
    So Bush dumping  the EO re off shore drilling and all the polls showing 75% plus of Americans  demanding we drill had no effect.

    hahahahahahaha

    Got a bridge for sale??

    And when it comes to how fast new oil could be brought on line, I note that all your experts are people who either are "analysts" or people who will not profit if more oil is brought on line.

    To claim that we can't bring the new oil on line in under two years is stupid and insulting to anyone's common sense, yet these people keep on doing it.

    Of course if we don't start it will never happen.

    You know DA, my finances and retirement are secure. You need to start thinking about what you will wash down that cake that Pelosi and the Left wing Demos is feeding you.

    Parent

    Conflict of interest (none / 0) (#46)
    by jimakaPPJ on Tue Nov 18, 2008 at 10:31:27 AM EST
    Gersh, she's investing with someone who wants to reduce American dependence on foreign oil, that must be a high crime or misdemeanor of some sort, we need to get someone on it right away.

    Makes no difference, the conflict of interest is obvious.

    And here I thought you guys demanded your politicians be as pure as Caesar's wife.

    If she was selling stock they would charge her.

    Parent

    crunch a bunch of oil stocks (none / 0) (#48)
    by jimakaPPJ on Tue Nov 18, 2008 at 04:28:25 PM EST
    Sure there's a crunch. All we have to do is put some national leadership on it and that can be fixed in a hurry... oh wait... National leadership...oil drilling...Lefties... Hahahahahahaha

    The point with Pelosi is real simple. She owns stock in a company that is involved in alternative fuels. When the price of oil goes up, the value of her stock goes up.

    yadda yadda all you want, make fine points of logic, demand to see what you want...but

    That is a clear conflict of interest.

    Parent

    Uncle Sam... (none / 0) (#1)
    by kdog on Wed Nov 12, 2008 at 05:50:16 PM EST
    better get out the checkbook...the gamblers are still panicking.

    Or should I say Chairman Mao?

    I think just the fact that Paulsen (5.00 / 1) (#2)
    by of1000Kings on Wed Nov 12, 2008 at 05:54:59 PM EST
    is changing strategies is going to hurt the market, and did today...along with more bad economic info...

    I mean, if the government is already changing the process, a process that had just begun, and a process that was approved by Congress, then how much faith can there be in believing that the government can sort out this problem, and not just give away money?

    it doesn't leave me very inspired to know that Paulsen et al don't really have a game plan other than buying stock in poorly run companies...

    you would think Paulsen of all people would know that leadership and consistency would be keys at this point, not just handing out billions of dollars to whoever comes knocking...

    Parent

    He should be arrested (none / 0) (#10)
    by Amiss on Wed Nov 12, 2008 at 11:32:57 PM EST
    I feel he sold us a bill of goods, and had no clue what he was doing and of course wanted none of it to be transparent.

    I am so sick of the Bush Administration, I could just cry, it feels like they are doing everything in the treasury dept to spend every penny our children could ever hope to make before Obama takes office and all with our help.

    Parent

    The casinos are still running (none / 0) (#6)
    by jimakaPPJ on Wed Nov 12, 2008 at 07:43:49 PM EST
    and at least they run honest games..

    ;-)

    Parent

    No kidding. I told my husband that we should have (none / 0) (#7)
    by Angel on Wed Nov 12, 2008 at 08:32:50 PM EST
    taken our money on a trip to Vegas.  At least we would have had 50% odds on red/black odd/even at the roulette table.  More fun than suffering the daily stock market losses.  Hindsight is 20/20.  

    Parent
    Actually... (none / 0) (#14)
    by kdog on Thu Nov 13, 2008 at 07:49:03 AM EST
    red/black or even/odd is a less than 50% chance...don't forget 0 and 00, the numbers on the wheel that helped build Las Vegas.

    But your point is well taken...I trust the wheel, I don't trust the NYSE.  And definitely a helluva lot more fun!

    Parent

    Except for craps never do table games (none / 0) (#18)
    by jimakaPPJ on Thu Nov 13, 2008 at 09:04:53 AM EST
    or slots or any variation thereof. The odds are with the house.)

    I also don't do craps.

    You have a chance at poker because you aren't playing the house..

    BTW, Kdog. You coming down to the WPT tournament  in Tunica in Jan?? The side action will be good and I'll buy dinner!

    Parent

    I'd love to.... (none / 0) (#21)
    by kdog on Thu Nov 13, 2008 at 10:00:27 AM EST
    I'll have to see how I do at the WSOP Circuit Events in AC in December, planned on playing one or two of the small buy-in events.  If I make a score I'm there old friend...otherwise I don't think the roll can hack it.  Golden rule "don't bet what you can't afford to lose" and all.

    Wish me luck...If I take one down dinner is on me:)

    PS...Of course you're right about the table games, but they sure are fun!!

    Parent

    you have a chance at poker, but pay attention (none / 0) (#28)
    by of1000Kings on Thu Nov 13, 2008 at 03:47:50 PM EST
    to the rakes...if you're playing a small limit game like 3/6 then the rakes might be high enough that making a profit over a large span of time is nearly impossible...

    courtesy of Johnny Chan, and common sense...
    it is a casino, lest we forget...

    Parent

    I had a stock broker friend (none / 0) (#17)
    by jimakaPPJ on Thu Nov 13, 2008 at 09:00:34 AM EST
    who liked to opine the old straw that....

    Rather than try and trade in the market most people would be better off learning Blackjack and going to Vegas... the games are honest, the odds are better and you get free drinks, food and maybe a free room.

    Of course his theory was that you use a professional and invest over the long term... When I spoke with him last week he was mum on the subject.

    Parent

    1T in 3 days. (none / 0) (#3)
    by sarcastic unnamed one on Wed Nov 12, 2008 at 06:00:25 PM EST
    Paulson's 700B is starting to sound like he's bringing a knife to a gun fight...

    The stock market lost 1 trillion? (none / 0) (#8)
    by Romberry on Wed Nov 12, 2008 at 09:52:36 PM EST
    Actually...no. The markets may have seen market capitalization decline by a trillion dollars, but market capitalization isn't real money. Imagine everyone who owns stock all lining up to sell every share. What would that stock then be worth?

    As long as investors own their shares and the companies theu invested in are not bankrupt or otherwise out of business, they own what it is they bought (the shares of stock) and have "lost" nothing. If they sell at a loss, then the loss is realized and they may come out in the red, but that's the way stock market gambling works.

    "I am not a crook" (none / 0) (#13)
    by NYShooter on Thu Nov 13, 2008 at 05:49:00 AM EST
    "I did not have sexual relations with that womam"

    "have "lost" nothing"

    You're kidding, right?


    Parent

    If you still have your original investment (none / 0) (#19)
    by jimakaPPJ on Thu Nov 13, 2008 at 09:07:34 AM EST
    then you have lost only the use of your money...

    And if went in pre-tax, don't forget to figure in the tax you would have paid..

    Parent

    Paulson's answer? (none / 0) (#9)
    by Che's Lounge on Wed Nov 12, 2008 at 11:08:23 PM EST
    Sink $250 billion of the bailout into...

    Wait for it...

    Bank stocks.

    either he's a super genius (none / 0) (#11)
    by of1000Kings on Thu Nov 13, 2008 at 12:39:33 AM EST
    or super stupid...

    I know what I'm voting for..

    Parent

    Che's Lounge my man... (none / 0) (#24)
    by kdog on Thu Nov 13, 2008 at 12:04:10 PM EST
    good to see ya...you and PPJ in the same thread no less...just like the old days:)

    You've been missed.

    Parent

    And we haven't even begun (none / 0) (#12)
    by BrassTacks on Thu Nov 13, 2008 at 01:37:54 AM EST
    All the auto bailouts, and all the other companies. I sure hope we can all get a bailout, or at least our mortgages paid.  

    Seriously.... (5.00 / 1) (#16)
    by kdog on Thu Nov 13, 2008 at 07:58:26 AM EST
    Uncle Sam should just cut a check for every man, woman, and child for 50k and be done with it.

    Parent
    Epochal Transformation Accelerates as Global Finan (none / 0) (#23)
    by Truthseeker2 on Thu Nov 13, 2008 at 12:00:28 PM EST
           Epochal Transformation Accelerates
       As Global Financial Matrix Disintegrates

       Now that the genie is out of the bottle, worldwide economic, political and social events will proceed with the inexorable force of destiny.  The forthcoming changes, shifts and breaks with the past that are delineated below do concern the unsavory business of WHAT, positively, will not be brought into the future.  This is of critical importance.  Why?  Because those who do not know, and understand, and heed history, are always, always forced to repeat it.                                

    I.   As we all sat back and waited for this year's October Surprise, please know that it came a little bit early this year on September 15th which will forever be known as PITCH BLACK MONDAY.  Actually, the entire month of October was set up to be a series of Black Monday's, as well as every other day of the week shaped up to be.  It's really a good time to brace your self since this year's election cycle, and beyond, will bring with it a whole new season of surprises.  Things like the beginning of the end of FIAT money - the real root cause of all our financial problems and economic ills.  This foundational flaw, together with all of the multi-layered financial/economic/accounting mechanisms and schemes that have insidiously crept into the system, are the `not talked about' institutionalized culprits and structural deformities that really need to go.  Without them, the perps wouldn't be so tempted to stack the deck against us all the time.  
       The only legitimate currency is that which is backed by GOLD, or some other precious commodity that is universally valued, and issued directly by the US Government, not a privately owned, organized crime syndicate like the FED.  Debt driven, fractional-reserve banking - the real bane of global finance - will then be banished from the planet forever, along with the overlords of disaster capitalism, institutionalized usury & loan-sharking (e.g. World Bank & International Monetary Fund), as well as their economic hitmen.  Finally, the central organizing principle of modern society, and especially Western Civilization, will no longer be: maximizing shareholders' wealth.
       The writing is on the wall: THE FED IS DEAD.  And so is the Fed's collection agency - the IRS.  The FED has obviously been on extreme life support since September '08, and the only compassionate response is to let it go peacefully into the sunset.  Perhaps we should organize a simple taxpayers' revolt, not too unlike those that occurred prior to the American Revolution, to bury this beast forever.  When the people do wake up, and realize that the Federal Reserve Note that they carry in their pocket is exactly that - a note (i.e. debt, obligation, debit, commitment, instrument of indebtedness), things will start to get REEEEAL interesting !  

    II.   Another little surprise will come in the form of an announcement that goes something like this:  The USA was conceived to be a CONSTITUTIONAL REPUBLIC, not a democracy by plutocracy.  Or corpocacy, or oligarchy/synarchy, or crony capitalism or any other ism/cracy/archy they have tried to foist upon US.  The founding fathers would be absolutely horrified to see the "mob rule by the privileged elites" into which this once great nation has degenerated.  Every political philosopher knows that democracy, when sufficiently dumbed down and unduly influenced by the moneyed ruling class, will always devolve into a despotic tyranny.  Therefore, the wholesale exportation of our fraudulent notion of democracy, and its supposed freedoms (to buy, buy, buy after watching the boob tube hucksters), by the political and corporate classes must be reconsidered.  And it will be soon, on a new channel during this "Fall" season's new lineup!  Stay tuned ---
       The recent presidential election, incidentally, is perhaps the most flagrant example of how the US constitutional republic has been repeatedly suspended (at the very least, once every 4 years, right?).  Just as much as the voting populace has been suspended in the state of perpetual ignorance is bliss for generations.  Can you imagine - the winner having raised close to $700 MILLION in campaign contributions - just how many debts the president-select (Demoplican or Republocrat - either way they are still both sides of the same coin.  The coin of the realm which excludes We The People.)  has incurred?!  How, pray tell, do you think these debts will be paid back in light of the trillions that are already owed across the world by the US Treasury, US corporations, US citizens, etc.  They won't be paid, because they can't be paid.  The US Corporation is, and has been, bankrupt for quite some time now.  It's stone cold broke and plum busted.  And We The People are thoroughly disgusted.  Therefore, this fraudulent corporate entity can now be trotted off the global stage, so that the REAL Constitutional Republic can be resurrected to its proper place in the nation's governmental and political life.

    III.   Another announcement will be made, in the not too distant future, about the business entity commonly known as the CORPORATION - the main huckster of this `brand' of faux democracy.  Surely, if the devil were to ever choose the perfect form in which to enter in order to carry out his nefarious designs, Inc. is it.  Is there any other entity on earth - person or party, organization or association, government or institution, jurisdiction or bureaucracy, club or group, fraternity or sorority, etc. that can function with such impunity, as it hides behind the shield of LIMITED LIABILITY.  Those two words have given complete cover for the flagrant and wanton destruction of planet Earth.  
       You name it - oil slicked coastlines, razed rainforests, beaches strewn with dead dolphins and whales.  Not to mention the complete erosion of human, civil and national rights, wherever INC decides to set up shop.  
       Let's pick a country.  Let's go to India and visit Bhopal of Union Carbide fame.  Close to 8000 people died within two weeks of that December day in 1984 in what is known as the worst industrial disaster of the last century.  Now that Dow Chemical owns Union Carbide, you can only imagine the veritable phalanx of attorneys who are paid unconscionable fees to ensure proper responsibility and accountability will never be assumed by their master.  
       Or let's visit the Punjab and talk to the thousands of widows of farmers who committed suicide because of Monsanto's "seedless seeds".   Or go to just about anywhere on that subcontinent where a Walmart is being protested for land theft, encroachment and despoilation.   Let's not forget about all the Coca Cola bottling plants that have become notorious for stealing the most precious commodity that every Indian cherishes and covets - WATER.  Well, that takes care of land, water, air ... and blood.  What else in heaven's name do these stakeholders want?!  
       We all know the deal.  It's the one where the individual, and his/her environment, is always trampled in favor of the corporate interest.  Isn't it time to really take stock of what our current predicament has left us with?  Perhaps it's also time to seriously think about actually re-ordering the ORDER, instead of once again rearranging the deck chairs on the titanic.  Like we've said, "optimizing stockholder profit" will soon be history, as the cease and desist orders are not far from being issued to Corporate America.  Might as well get a head start on dissolving (or re-chartering) that corporation.

    IV.   Termination of Globalization:  The dominating and predatory form, that is.  No other global initiative has been more unsuccessful at creating a framework for a more efficient transfer of goods and services around the planet.  Truly, every aspect of this corporate inspired policy has failed miserably.  Wherever it promoters trumpet its stated intention to make markets more streamlined, effective and resilient, it has done quite the opposite.
       One only needs to look at the current debacle within the European Union concerning the banking, credit, and stock market breakdowns.  Never has a response from the appropriate governing bodies been more disorganized, full of mixed messages and working at cross purposes with the member states.  It's like watching The Three Stooges (France, Germany & Italy) play musical chairs blindfolded with no clothes on.  What an unprecedented spectacle, and in plain view for the entire world to watch!  This will undoubtedly put the brakes on the concretizing of a North American Union and their planned currency - the Amero.  Praise the Lord!  
       As a matter of fact, all of the financial unions and economic superstates (e.g. European Union; Southeast Asian Association for Regional Cooperation; Union of South American Nations) that have been created over the past many years will, by sheer necessity and desperation, be forced to re-organize themselves in the coming months and years.  Even South America, which has two distinct camps that are constantly gummin' up the works for each other, will abandon their current emerging model in favor of one that enjoys complete freedom from its North American taskmaster.  To their credit, they have set the bar higher than it has ever been set concerning their strongly stated desire to be free of IMF and World Bank control.  Only Russia has exceeded their standards, as they had already been fleeced by the Oligarchs in what may very well be the grandest larceny of national wealth/resources in history.  This, of course, was preceded by a 75 year scourge of incessant rape, pillaging and plundering by the Bolsheviks and their Western financiers & handlers.  Clearly Mr. Putin will not allow a repeat of any such conduct within his borders, and the international persecution that he has suffered certainly reflects their displeasure and frustration with him.  No wonder Vladimir Putin is now considered a "reincarnation" of Peter the Great by his own people.
       The ruinous influence of these two globalization thugs (IMF & WB) can be instantly assessed by looking at the economic calamities they caused in Argentina (1999-2002), as well as in Thailand, South Korea & Indonesia during the 1997 Asian currency crisis.   Likewise, every nation in Africa that has chosen to take on their monetary yoke has only misery and war and financial oppression to show for it.  Wherever these 2 scrooges show their faces, it's quite like Ebenezer himself showing up to make a house call.  You know the patient will soon find himself in a pine box after all the gold fillings and rings have been removed.
       We have seen this globalization scam unfold in country after country, as a ruse to steal a nation's resources, always taking from those who have, and giving to those who want it.  In fact, an objective assessment of all the world's current conflicts would reveal that the vast majority are directly the result of this geo-political/commercial dynamic.  The privatization of water sources/bodies/supplies/rights is perhaps the most provocative and glaring, and can be found at the root of a number of these resource wars.  
       Clearly the verdict has been delivered:  Economies are much less vulnerable, the more locally they are positioned and the less centralized their decision-making process.  This arrangement affords much greater resiliency when dealing with the vicissitudes of the marketplace.  And it takes the power away from those who are insulated in ivory towers, and far from the plight of the common man.  It is time for everyone on the planet to "think globally; act locally".

    V.   Stock market will become extinct.  There is no greater tool at the disposal of those who can, and do, manipulate the various markets than the charade of "setting up" a formal system of trading, buying and selling of anything, as exemplified by the NYSE.  This is where it all happens.  From devastating whole national (and regional) economies, to toppling uncooperative corporate execs, to bringing 150 year old multi-billion $$$ companies to their knees within a week's time.  From triggering stockholder revolts, to propping up corporate raiders, to extorting billions from national and/or corporate treasuries.  They can, and do, do it all right there on the floor.
       Really, the very best example of what occurs in these speculative market exchanges is the gambling casino.  In Vegas, everyone knows that the house ALWAYS wins.  It never loses. Even when there is the appearance of losing, it still wins.  Go figure, but it's true. Your stockbroker is not too unlike the blackjack dealer.  And your financial planner is often a croupier in disguise.  So, the question remains, do you honestly know what your hard earned retirement money is invested in?  If not, this is a very good time to find out!!!
       For those of us who have been there, we know that whether you call it an oil bourse, a commodity exchange, or a bond market, you're still playing in a game that can go against you at any time.  Wipe out your earnings in a heartbeat; devour your principal in a flash.  It's often been said that when he comes, "he comes like a thief in the night".  Do you still feel you know where your entire life savings is currently residing?
       The derivatives market represents the single greatest threat to worldwide economic stability and financial security.  It poses such great potential for financial abuse and economic devastation that the current institutional arrangements of this commercial realm have become completely unacceptable.  The alarming proliferation of hedge funds, as well as the growing number and variety of derivative instruments, has reached a critical mass that is incompatible with living a financially sound life on planet Earth.  Simply put, some of these instruments are so far from the street - economic reality - that they put into jeopardy all the hard work, which appears in the form of real goods and services, that is produced by any economy at any given time.  This predicament signifies a CLEAR AND PRESENT DANGER to us all.  
       Remember - DERIVATIVES are the real megilla.  Derivatives, by their very nature, can be highly radioactive, and can go nuclear any time circumstances conspire in just the right, or wrong, way.  Those who control their destiny can, likewise, utilize their inherent threat as a means of conducting financial and economic terrorism anytime, anywhere completely under the radar screen.  It's time for them to go.  And we trust it's just a matter of execution at this point.    

    VI.   Mass Consumerism & Perpetual Economic Growth - the Fric & Frac of our Age - are history.  One need not look any further than the inside of one's own home to see the ravages of these adopted twins.  They own the bedroom, the living room, the family room and all the closets.  They've taken over the kitchen, the den and the garage, as well. Since their middle names are Amass and Accumulate, we can only imagine what might lay hidden in the attic, the basement and the shed.  
       Ever since they became the twin pillars of Kali Yuga's overarching philosophy of life, things started to really go to hell in a handbasket ... or rather gilded cage.  How so?  What else could one expect from a political economy that demands growth, necessitates growth and extols the virtues of growth at every turn (and on every other commercial and newscast).  Growth, at the expense of WHAT!!  We'll tell you what - Life!
       One of the most tragic parts of this ever-unfolding tragedy has been the dramatic change in the spirit of the people with whom these twins associate.  The very society loses its refinement, as the culture becomes debased.  Aren't so many things associated with Americana experienced as coarse, and crude, and crass?   Likewise, the nation, which was once known as the "land of the free; home of the brave", morphs into a country reviled for its unkindness, lack of compassion and cruelty.    Before anyone realizes, the citizenry is easily being herded, and then stampeded, into wars and conflict of every sort and kind.  
       What else could be expected when the meme of consumerism is subliminally implanted at such a young and tender age, and relentlessly reinforced from cradle to grave?  And, what does it really say about a society when all who belong to it are known as consumers. Kind of like little pac-men (and pac-women) gobbling up everything in sight.  Starts out with BIG Macs and 24 oz  cokes, then super-sized HUMMERS, then oil fields and gold mines and precious rainforests, and then whole countries.
       Likewise, in the corporate realm, any board director, company officer, division president, regional director, department manager, production supervisor, etc. will candidly speak to the greatest pressure in their lives.  More income, more sales, more profit, more production, more revenue - anything that will show an increase in year over year growth.  Always gotta GROW, even though yuv been out of puberty for 20 or 30 years!?
       Well, you can imagine that this state of affairs can only go on for so long.  As a matter of fact, this party's now over.  And the hangover is about to begin.  Perhaps it's time to send these twins on a permanent vacation to the waterless region.

    VII.   War, as a means of wealth creation, is now bankrupt.  War, as a means of conflict resolution, is over.  As a means to any end whatsoever, war is finished.  You get the picture, don't you?  War has outlived its usefulness, and has become as obsolete as the derivatives hawker.  There is simply no more place for it in civil society.  It's time for the curtain to fall on this show for the last time, and for all of its bad actors to hit the stage exit.
       It never was a legitimate policy for conflict resolution, as we know.  Virtually all conflicts and wars were manufactured in the boardrooms of the world.  And impeccably stage managed by the directors of the war studios.  Isn't the Iraq war a perfect example of this kind of terrible and awful-to-watch "B" movie?  
       Any deliberate, probing and unprejudiced analysis of all the major wars going back to the French Revolution will reveal an extraordinary degree of  carefully calculated and coordinated events leading up to the actual conflagrations we call war.  Just read the actual history that is only now beginning to surface, and you will reach this very same conclusion.
       War has consistently served its masters in three ways which no longer have relevance in an enlightened civilization: (i) population control (ii) artificial creation of wealth for the plutocracy (iii) imposition of a tyrannical order in the wake of the chaos that always results from war.  Population control in this context has different meanings.   The number of people who are systematically genocided, wantonly annihilated and deliberately infected with disease agents serve the purpose of population reduction.  Then there is the sheer terror of war and its effects on whole populations (see how easily controlled both the Germans and Japanese were after WWII).  "Order out of chaos" is made easy when all concerned parties have been faced with the extraordinary distraction, mayhem and pandemonium that war always brings.
       There are, of course, many other declared wars whose battlegrounds are far from the traditional battlefields of armed conflict.  The WAR on Drugs.  The WAR on Poverty.  The WAR on Crime.  The WAR on AIDS.  Just like the WAR on TERROR, all of these so called wars are entirely bogus and fabricated, as they all have consistently produced outcomes that are completely contrary to their stated purposes.  How so?  Because each of them has been designed, and engineered, to perpetuate and expand the status quo.  The War on Drugs, for instance, was designed in part to ensure that the opium (and all of its profitable derivatives) flows freely and efficiently from the poppy fields of Afghanistan to the targeted markets in America and elsewhere.  In this way, all clandestine US and foreign intelligence agencies/secrets services are able to fund their innumerable black operations without any congressional oversight or public scrutiny from the massive revenues generated that this perfectly controlled black market provides.  Oh, yes, did we forget to mention that most of these black ops are actually wars as well.  What a Racket?!  As Major General Smedley Butler once proclaimed to the world in his book: "WAR IS A RACKET."
       May the shadow governments of the warmongering and real Axis of Evil - the USA, the UK and Israel - truly imbibe the message contained in this ongoing proclamation: WAR is no longer an option.  For each of these nations is facing an economic armegeddon of staggering and unprecedented proportions.  When confronted with such an incapacitating monetary meltdown, the impulse (and subsequent orchestrated plan), historically, has been to provoke wars through false flag attacks/operations.  This knee-jerk, and carefully calculated, reaction will no longer work.  The consequential global financial apocalypse this time around will simply be too demanding and debilitating, especially for those who would attempt to plunge the planet into a WWIII scenario.  
       The 4th Reich has completely run its course.  This last covert phase of the "Holy Roman Empire" is finally over.  And it's now imperative that the maestro in `Rome' gets over it.  Let us once again proclaim, here and now, that: WAR HAS COME TO AN END.  

     VIII.   There is a very profound and significant connection between the US Government sponsored and staged terrorist attacks of 9/11/01 and the PRE-PLANNED Financial & Economic 9/11 of 2008 that may be difficult for many to fully embrace.  But here it goes:  
       The OMEN that 911 truly was, looks a little bit like THE LORD OF THE RINGS.
    Remember the Twin Towers?  When they came down in NYC, it was a message to humankind that the reign of the Almighty Dollar was coming to an end.  As a nation's currency goes, so goes its destiny.  Her financial strength and economic prowess were on the wane, and soon to be greatly diminished.  Just as the WTC (financial capital of the world) was pulverized into dust, the US Dollar would be swept into the ash heap of history.  Just as we see it collapsing all around us, exactly 7 years after the original 911 apocalyptic events.
       When the Ring of Power was finally destroyed, like the Pentagon (ring-shaped command center of the military-industrial complex) was mortally wounded and damaged, the message was equally clear.  Her military might and superior force would be reduced to rubble in the twinkling of an eye.  She would, likewise, soon see the demise of Her all-pervasive state sponsored terrorism.  This, because She had lost all moral ascendancy.  Besides, the empire could no longer be sustained politically, financially, practically or ethically, as the seeds of its own destruction had fully sprouted.  The most fatal seed grew into that extremely corrupt and predatory form of corporate, crony capitalism which was so socially unconscious, and so environmentally unaware, it was quite doomed from the very beginning.

        The GOOD NEWS is that this nation - its people - will now be compelled to beat their "swords into plowshares" and their "spears into pruning hooks".
       Just as the Phoenix rose from its ashes, so too will America ascend to even greater heights.  As long as She ascends with the guidance of the highest of ideals, loftiest of   principles and noblest of intentions.  And She reforms, and transforms Herself, in good faith, in earnest and with haste.  
       As a modern day prophet said in the days immediately following September 11, 2001:
    "America, Wake up ! ! !  Seize this God-given opportunity.  There is no more time to dally in fear and ignorance and greed.  For yours is a destiny that must serve as a beacon of Light and Hope and Peace to the world.  Make haste, the time is drawing nigh!"

    T. Anthony Michael    
    11/13/08

    Publication, posting and printing of this article is expressly authorized.


    Repent ye sinners! (none / 0) (#30)
    by jimakaPPJ on Thu Nov 13, 2008 at 04:04:09 PM EST
    Think of you? (none / 0) (#31)
    by jimakaPPJ on Thu Nov 13, 2008 at 04:04:41 PM EST
    Surely you jest.

    Don't complain (none / 0) (#35)
    by jimakaPPJ on Thu Nov 13, 2008 at 10:37:11 PM EST
    On some occasions I let some of your efforts be posted... Only Heaven knows why...

    Parent