This is for those financial “junkies” who thirst for information (real and factual). For those of you who need to justify your mistrust for Wall Street operatives and their Republican facilitators or –political whores- as I like to call them. This is for those of you who still believe we have enough regulatory oversight of Wall Street. And for those of you who just need to know.
Here is a link to an article I like to impress upon you and maybe upon some of your docile and gullible friends, whose outrageous optimism in the economic recovery and infantile faith in human decency, will eventually lead them to the mastery of their own demise unless they wake up.
If there was ever any doubt as to the incompetence and perhaps monetary lubrication of the (former and current) regulatory agencies…the following article should put that doubt to rest.
And for those of you, who think that (they) learn from their past mistakes, guess again. As that great philosopher (my grandfather) once said: “…the only thing crooks learn from their past mistakes, is how to repeat them in a much bigger way”. Remember friends. Greed is the child of corruption and wickedness. It doesn’t need to be fed in order to grow. It feeds on itself!
Is there any wonder we are in the mess we are in? Has anything really changed?
Again This Is Not News….It’s Jungle Politics!
From The Desk of Dr. Politikong…Over and Out!
From Bloomberg.com
By David Scheer and Jesse Westbrook
Aug. 10 (Bloomberg) -- Pequot Capital Management Inc., once the world’s biggest hedge-fund manager, was cited in at least 44 private reports from exchange watchdogs in the past four years alerting U.S. regulators to potential insider trading, market manipulation or other misconduct, government documents show…see link for the full story.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ateHbcBlMHp4
You are back and so are the comments. At least something good is working in this wretched country of ours. You are the ONLY one that gives me hope that Americans can snap out of this trance and deal with all this corruption that has crippled our country.
ReplyDeleteJason Bailey
Syracuse, New York
AGAIN, when isn't this front page news in every major newspaper in the county?
ReplyDeleteTHANK YOU Dr. Politikong for continuing to shine a light where there's darkness.
Jim
BOSTON
Altering behavior at captured regulatory agencies is next to impossible.
ReplyDeleteWhere did Mary come from before the SEC, and what was she covering up? Follow the money.
Great blog. One of the few remaining intelligent blogs out there.
John King
Tar and feather the BASTARDS. I'm sick and tired of hearing of another scam just about every day.
ReplyDeletePolitikong rocks.
This blog is growing by leaps and bounds. Great work.
ReplyDeleteThe huge wall street bonuses more often than not exist to cover margin calls within the big shot's personal accounts and side bets away from the exchanges.
Most of the heavy hitters were loading up their personal books with highly geared positions. Every player was a hedge fund.
This situation best explains why Government Sachs kicked MOST of its profits through to the troops with a skew towards the top.
Even though the politics are terrible; the corporation HAD to get cash out to the players so that they can de-lever.
We see the same dynamic at Sun Capital Partners. The personal cash thirst runs everywhere in the FIRE economy.
I work on Wall St. but I'm appalled.
Sarah V.
Liberty, Fraternity, Equality...
ReplyDeleteNothing is so bad as something that is not so bad...
The Scarlet Pimpernel
Kudos, Dr. Politikong.
ReplyDeleteWake up people, how many times does Dr. Politikong have to warn you?
ReplyDeleteWall Street is the finance arm of the US Empire.. of course they are going to make more than everyone else, as they skim the cream off the top of this ludicrous government spending, whom in return for all their riches, they simply are required to buy more intrinsically worthless treasuries. It's just the same old unscrupulous leeches serving the state, not caring about the damage done to the country and its people.
The golden rule was destroyed when politicians stole all the gold. You won't find many with morals left in this country, especially among the power elite "professionals," who are just the old state-sponsored monopolists... Yet they somehow convince the people they have bleeding hearts and they are here to help. Tell all the executives, doctors, lawyers, career politicians, financiers, union organizers and all the other "professionals" to go leech off someone else, before we become another feces hole like South America. Anyone who obtains a license or a union membership is using a coercive anti-competitive authority to secure a market, and is therefore a monopolist, who is just as much responsible for this mess as the politician who gave them it.
Donald Mack
NY NY
Mary Shapiro should be working at the Drive through of McDonalds...I mean SERIOUSLY!!
ReplyDeleteCan someone get more WORTHLESS than this??
For a land with so many guns!
ReplyDeletewe are just amazed at the lack of spine Americans are displaying while they are raped! Roll over we are not done with you weaklings yet.
"The home of the brave" my ass.
Butch G.
glad someone speaks the truth
ReplyDeleteThis blog is awesome!!!!!!!!!!!!!!
ReplyDeleteLiar's don't like people asserting thier right to know. It makes them less effective.
There's so many wonderfully intelligent and gifted and special people in the banking industry. It's odd how we have this huge struggle to both retain them and force them the hell out of our lives. I can't quite resolve whether the problem is that they are so special that we can't get rid of them or if the problem is people are threatening to kill them so they are being tight lipped to protect thier security. If they are so valuable than the nation will surely want to preserve them and protect them. Put them in convertibles and drive them around grassy gnolls all day while they do their work. If the nation is worried about thier security then they will be secure. Of course this might bring to light inherent contradictions between the real nation and the nation that the NSA protects.
I am speechless. Really. If your country does not renew with at least some kind of economic logic (out the window for at least a decade now), this "recovery" will prove short lived. Great work Dr.
ReplyDeleteGerry Ainslie
Washington DC
America is doomed, because the people that stole the entire national wealth are going to do less time and pay lesser fine than the street corner bud seller. And *everyone* knows it.
ReplyDeleteThis blog rocks DITTO.
I can sense the outrage over this. Fantastic work again by Dr. Politikong.
ReplyDeleteThe SEC remains a paper tiger. The lack of resources argument doesn't apply. This was what I would consider a major case. Cash strapped as the SEC may be it still has the funds to undertake high profile cases. The fact that they did not even interview all of the principals involved is a question of competency and priorities, not cash.
Shame, shame
Dr. Politikong should be appointed to run the SEC. I'm outraged, and his approach is refreshing.
ReplyDeleteMax
The Dr. IS BACK. And what an entrance.
ReplyDeleteYou give me hope and I thank you for it.
Merriam (SC)
Dr. Politikong, I'm a regular visitor and a big fan.
ReplyDeleteWhy don't you cut the crap out and run for office. That's the only thing that's gonna straighten this mess out.
Blessings.
I'm a regular visitor to this blog to help me understand what really is happening in politics and the economy of our neighbours to the south. The more I visit, the more I understand how hopeless the situation really is.
ReplyDeleteI think I'm beginning to get Dr. Politikong's message: "Big money has abducted democracy in America". The big question will be" When will Americans wake up and do something about it, or is too late?"
Dave Wild
Ottawa, Ontario, Canada
@ Dave
ReplyDeleteI think the Dr's message is that we have a failure of leadership in America. If we didn't then our jobs wouldn't have been outsourced to China, we wouldn't be up to our necks in debt, corruption wouldn't be rampant and our Government would be bailing out Main Street not Wall Street.
Just my humble opinion.
Benjamin Rubin - New York
"Here is a link to an article I like to impress upon you and maybe upon some of your docile and gullible friends, whose outrageous optimism in the economic recovery and infantile faith in human decency, will eventually lead them to the mastery of their own demise unless they wake up."
ReplyDeleteAMEN !!!!!! KEEP UP THE GREAT WORK.
Julie M.
FASCISM....AMERICAN STYLE
ReplyDeleteNOTHING MORE....NOTHING LESS....
WHAT COLOR IS A WHITE HORSE ?
LOSER'S LOSSES PONIED ON THE BACKS OF AMERICA'S GREAT GREAT GRANDCHILDREN, AND ALL INBETWEEN....
FASCIST LEGAL LARGESSE AT IT'S FINEST HOUR....
JUSTICE IS FOR THOSE THAT CAN PAY THE RIGHT PEOPLE IN THE USA....
good for you Kong. they are all disgusting crooks. check out the story on that scum Cohen fliunky in yesterday's WSJ? And the Pequot story? The brazenness of these people is utterly amazing - and they are so brazen because they will never be stopped.
ReplyDeleteTyler D
Maryland
Dr. politikong why don't you spell it out for fellow americans. WE ARE FUCKED.
ReplyDeleteIn small regional banks the total Level 3 Asset Exposure at March 31, 2009. Compliments of the FASB, over $650 billion in "assets" are being marked-to-model, and most likely overestimate the true worth of these assets by about 50%. That's $300 billion in hot air on the banks' balance sheets.
Bank holidays all over the country coming to a place near you.
J. McPhearson
Kansas City
My first time here but I must admit this is a fantastic blog. I don't know how I missed it all this time.
ReplyDelete@ J. McPhearson :That's 650 billion reasons why Ben the Printer will continue to debase the currency. The immediate pain of dealing with the problem in a sustainable way will not be considered. Instead, Ben will just dump trillions of dollars of invented money into the system a few billion at a time -- stealthily eroding the American standard of living in order to protect 1/10 of 1% of the population who carry the title "masters of the universe."
It's true, we are soooo fucked.
Take it from a fellow blogger: GREAT BLOG
ReplyDeleteI love my country, but today, I fear for her future.
WAKE UP AMERICA.
STOP THE LOOTING AND START PROSECUTING.
Karl D.
excellent blog as always, forwarded it to all of my friends...
ReplyDeleteDianna Stounts
Chicago IL
Keep at it Dr. Politikong. More and more folks ARE listening. I never thought anything was going to change though. It's too big to stop at this point, but educating folks to what is going down is the right thing to keep doing.
ReplyDeleteThank you for everything you have done, and spurred me to do on my own part. At some point the outrage will be heard
This story was so good I read it twice.
ReplyDeleteWho's running the country...the Soprano's ? Looks like all they did was eliminate a couple of the "Families" last year and started all over again after consolidating power.
And I agree...Both parties are knee deep in this shit and because of that we have been lucky to get a sternly worded letter from congress let alone any prosecution of these crooks.
I read this blog faithfully but I rarely post and I rarely give complements, not because I don't think they're good, but saying the same thing in every blog thread is pointless. They are almost without exception, extremely good.
ReplyDeleteThis was EXCELLENT. EXCELLENT!!!!!
Anonymous
Buffalo, NY
Great blog. My favorite by far.
ReplyDeleteSo infuriating and yet depressing. I just don't see how this ends well. Well, America, you were great. Too bad greed got the best of you.
Anton F
Dr. Politikong, for God's sake man.. Let this shit ride for a little while. The pigmen have kicked the can down the road. Let "down the road" work for some of us.
ReplyDeleteSupplies are still plentiful and cheap.
I am building essential provisional supplies as fast as I can.
I am building cash stashes (small bills) as fast as I can w/o my bank saying WTF?
I have a secured, 360 degree defensible homestead with 60 mile views.
Wife and I have been thru advanced tactical/survival training.
Small arms, dignitary protection, improvised weaponry, tactical high speed driving, EMT, etc.
But, I have yet to fully take on adequate stores for what "may" be coming.
Don't fuck this up. We estimate 6-8 months of a Prozac hangover for our fellow Americans. Then our Gov't will be outed and... well...Then SHTF.
While the rescue of America is noble, honorable and patriotic.
Based on the obscene arrogance, and now proven cowardice by those who we elected. America, as it exists, may not be worth defending or rescuing.
I would like to help you save America. But, at some point in the near future, you and I will be on our own for survival.
I must confess. The simplicity of day-to-day survival is regrettably appealing at this point.
We are preparing. We need just a little more time. God Bless.
Kyle Lafoone
It's a powerful, well written blog.
ReplyDeleteEverything is true.
That said, I suspect we have crossed the event horizon of an economic black hole. Thus, the end state is unavoidable.
Let me join the chorus - the U.S. Congress no longer represents the will of the people but the will of itself and its members. The problem is money. It takes a ton of money to get elected and even more to stay elected. Who has the money? Why bankers of course. Yell and scream all you want, heck, you could even write your congresscritters - but if you really want action, enclose a nice fat check. And you partisans who are convinced its those damned Democrats, or those damned Republicans, please look around. It doesn't matter whether a whore is a blond or a brunette, she's still out to take your money. Until we (yes, it will take a virtual popular uprising if not a referendum to end this gravy train) focus our efforts on this problem, all these other problems will persist. As Dick Durbin so bluntly put it "the banks own this place."
ReplyDeleteJal
Ok this is behind outrage, but no one seems to fucking care.
ReplyDeleteA.J.
Kong, Thank You for this story and for all You do on this blog...
ReplyDeleteIt is apparent that the Oligarchs controlling .gov will not stop until the entirety of the Wealth of the Nation and It's People is absconded.
What the American People presently face is eerily similar to the very problems which Our Founding Fathers faced with the Tyrannies of the British regime of which They were subjects...
An American Patriot
Jesus Christ my American friends. You are all scaring the shit out of me. If your economy collapses as you are suggesting that's going to screw up our economy here in Canada and we had nothing to do with your crooked institutions. All we did was trade with our neighbour and best friend and always in good faith...What the fuck. We all better do something or this is going to become one huge global sewer emptying into the sea of HELL!
ReplyDeleteBrian M
Mississauga Ontario
I can't thank you enough. You are an inspiration.
ReplyDeleteI agree 100% with Jal.
ReplyDeleteObama spent almost 700 million yes million dollars to win the presidency. H. Clinton spent almost 400 million just to compete in the primaries. Add all the $ that All candidates Republicans and Democrats spent to be elected or re-elected and we are talking almost over a trillion yes that's a trillion dollars. And yet we sit and bitch about the cost of health care. DR PK is right...we are masters of our own demise. And worthy of it.
Heeeeeeeeeeeeeeeeelp!
Jane Sahit
Methinks you should run for President. Sometimes the only way to bring something down is from the inside.
ReplyDeleteCharles S. Stramm
(Everglades)
Dr Politikong - "blah blah blah corruption, blah blah blah evil bankers, blah blah blah sold out congress. Furthermore, blah blah blah America is fucked, blah blah blah economy is collapsing, blah blah systemic fallout. "
ReplyDeletePleeeease, America is still here and still the strongest nation on earth, can we get back to bashing Rush Limbaugh.
Signed
Totally bored with your blog
Somewhere in the USA
To Anon 11:50AM:
ReplyDeleteUnfuckingbelievable that after all this there's still fools like you out there. It probably explains why as a society we are where we are though.
The man is trying to open your eyes, be thankful for it jackass.
Bernie
Somewhere in the not so great USA
Brilliant!
ReplyDeleteThank you Dr. Politikong for staying the course.
Stephen C
Gainsville
@ Dr. Politikong
ReplyDeleteNice catch the Bloomberg article, always worth waiting for your blog
Helen Pitts
San Diego, CA, 92111
awesome job Politikong in exposing the corruption, BUT now comes the interesting part; how they fuck do we stop it?
ReplyDeleteOsvaldo Formeia
Los Angeles
I'll echo others, excellent blog!
ReplyDeleteDave Inza
West Haven, Portland, OR
To any congressmen who may read this blog: Be aware that there is a written and video record of every vote, every comment, almost everything you've ever said about this corruption. At some point, there will be either LEGAL prosecution of your misdeeds through the courts, or organized pursuit by citizens banded together, something like the Nuremberg trials.
ReplyDeleteWe still have full bellies. When we see havoc brought to our communities and fellow citizens hungry, we'll finally be motivated to pursue the guilty. Don't think our easy placating now will last. Unless you flee overseas with your family, you won't escape the wrath of the American public. Lucky you if the Courts remain organized enough to provide trials. You all have been completely insulated from this, to date.
Maybe your idea is that prolonging this will ease the fall, that if we acknowledge the problems we'll descend into civil unrest immediately, and you believe you're making the better choice for the country. But it's probably NEVER better to string something like this along...for your peace of mind now and during the future routing out of complicit Congressmen, straighten your spine and fight the good fight. You'll have much more support for changing your tune and doing the right thing among the growing population of folks who know what's going on, than support from your higher-ups in Washington and the constituency who is bleeding the country. Step forward, do the right thing now, get it off your conscience, help the country turn around now.
Again, due to the written word, video, and the nasty frame of mind people will be in, whether it's 6 months or 6 years, you will be held accountable at some point.
Great blog
ReplyDeleteBut the sheeple have already moved on
All bankers suck ass
Mad As Hell
Well written blog, Dr Politikong. I know more and more people are reading these posts and disseminating them around to various very high-traffic forums and they are viewed favorably there as well.
ReplyDeleteWith that in mind, at least you are pissing "with" the wind and no longer against it. You're still pissing on a big house fire though.
More than a couple here have wisely surmised that at heart Americans are socialist. Well, maybe on the whole. The problem is that over half of Americans are feeding at the trough. Some philosopher once wrote that a republican democracy will only work until the masses figure out they can vote themselves the public largess. We're at that point now. Large numbers of blacks in urban areas are a classic example of this. And the Democrats... they "give" away enough to keep their constituents subsisting, but not enough so they may get out of their government subsidized existence. And to be fair, it's not just urban blacks, but poor rural whites as well.
As for the oligarchy, I can only hope that Americans throw off the yoke of debt servitude. If it means default, then so be it. And many of those responsible? Rope. Lamp post. Some assembly required.
John Templar ...... Yielder Estates, San Fran
We are rapidly running out of boxes here folks.....
ReplyDeleteLOL
Dr. Politikong PLEASE lead the revolution. In 2008 Americans bought firearms in a bit more than 12,709,000,000 transactions.
ReplyDeleteFigure more than 13 million firearms because the records don't break out which were for more than one gun in a single sale.
In just the last three months of the year they bought enough to outfit the 1,700,000 and 1,200,000 standing armies of China and India combined.
In one month of the year they bought 1,529,000,000+ rounds of ammunition.
Yes that is correct, a Billion and a half.
We saw a similar surge of about 600k purchases after the government actions at Waco and Ruby Ridge. All those weapons are still out there, in addition to all the steady purchases and remnants of the last hundred years that are still serviceable.
I have to submit - it is not tin foil to think that if even 1% of the owners of this huge armory decide it is "The Day" we will have a huge problem. The people who are disenfranchised have reserved a way to make themselves heard. I think some in law enforcement know this, because they have not repeated the large military style actions against civilians. There are freedom of information releases which intimate that they believe they can provoke the mob they don't want to face. I have no confidence they could convince the politicians of that however.
Stockton, CA
They're all shameless thieves and liars.
ReplyDeleteI've given up on federal-level politics. Working solely on the local/state level, and praying the corrupt and pustulant horror that is fed.gov falls under its own weight sooner rather than later...
This blog brings hope to a lot of frustrated citizens like me, keep it up and THANK YOU.
Wow ... Complete Agreement ...
ReplyDeleteYou're Knocking It Out of the Park w/ Every Swing.
Please Take Care of Yourself Too.
With gratitude
Howie Low
Napa Valley
Damn Kong, you are on fire again. I am in 100% agreement here with the message. The Republican Party has become nothing more than a bunch of political baboons. I do however think (whether I like it or not) from a purely political perspective that the timing is off for Reps and especially Dems to focus on financial reform now.
ReplyDeleteFrom a timing perspective Obama has control over the House and Senate until the 2010 election. As a result, he has a limited window of opportunity to push through agenda items which are divisive such as Health Care. He knows damn well that there would not be a snowballs chance in hell to mention the words Health Care reform if the tables were turned against him in Congress. He therefore is taking a calculated and willing risk to kick the can down the road on financial reform, knowing that there is common ground on this front. The Republicans are so inept that they can not even manage to deliver a consistent message and divert attention away from the Health Care debate. It’s so pathetic.
I do expect (and maybe this is wishful thinking) that come end of 2010 the walls of hell will come down on financial institutions in terms of sweeping financial reform lead by both political parties.
Grace Palombo
Tempe, AZ
Best blog ever!!!!
ReplyDeleteAgatha
San Antonio, TX
Thank you for calling out the Republican Party and their hypocrisies.
ReplyDeleteThey were 'fiscally conservative' as a way to get themselves into power; as a way being what the spendthrift Democrats were not. Voila!! It worked.
By the way, Republicans appealed to the hatred of citizens to inflame. Racial, sexual orientation, and even abortion. When is a woman's body not her own? When Republicans can tell her what she can and cannot do with it. They speak of personal freedoms; however, they want to be able to tell a woman her body belongs to them..
However, once in power they saw a way to enrich themselves and their cronies. Iraq War and its neverending ongoing exercise in futility. What have we got for the money and the deaths of so many innocent ones?? NOTHING!! Many defense contractors got rich and richer, ie Halliburton and Blackwater. Please remember, Cheney said deficits don't matter.
Tax cuts anyone? Well now we need those revenues from tax cuts for the bailouts of insolvent banks.
I expected more from The Republican Party, even though they are the ones who ushered in this financial collapse. I thought they would come to their senses and do the right thing. Ye gads, I was mistaken.
Reagan said for Republicans not to criticized one another. Republicans are so well disciplined they say the same things, day after day and elections after elections. None in the Republican party has an original idea, all speak of the old ideas. They have been zapped of thinking as individuals or thinking at all, so they follow the leader like blind sheep. To say something different would mean going off the reservation or criticizing another Republican. (shudder the thought)
Thank you for pointing out Republican hypocrisy and hopefully they are willing to listen and act.
Jake Howard
LA
Dr Politikong you made my day !
ReplyDeleteYou are a breath of fresh air,.in fact more like an oxygenmask in a room full of toxic fumes,..I swear if I didn´t already have my wife,...I´d be on my knees now!
ReplyDeleteRob
I love this site. Thank you restoring my faith that not all Americans are idiots.
ReplyDeleteAntonio Vergara (Los Alamitos)
Very astute blog, always fun to read.
ReplyDeleteIf the SEC can't act effectively and forcefully to rein in corruption, it really has no reason to exist.
ReplyDeleteTouche.
Brian Lynn
Sacramento
Other than Madoff, has any individual paid any price at all for the largest fraud in history? Any Congressmen been impeached and executed for treason? Any bankers paid personal fines and gone to jail?
ReplyDeleteIt's the American Way, as American as Mom, apple pie, waterboarding, invading other countries, and supporting rabid third world dictatorships. God bless America...not.
Maggie Couse
Seattle WA
All those of you bashing the Republicans on here, WAKE THE FUCK UP.
ReplyDelete"Change" was a lie, and through that same old combination of corporatist ideology and characterless cowardice and conformism (a congenital inability to even imagine a system substantially different from this ine, right down to the bonus culture), Obama has ended up staking his presidency on an absolute bullheaded commitment to upholding and intensifying the status quo, with the profit and power of the banks being the priority of all policy.
Sheesh, you people
In other news, the Monkey continues to scare the children, (doesn't it cause holes in your brain?)
ReplyDeleteFollowing this blog is anti-American
KKK
Anyone remember the history behind the great Galveston Hurricane of 1900?
ReplyDeleteThe dark clouds are beginning to form.
http://www.eyewitnesstohistory.com/galveston.htm
http://en.wikipedia.org/wiki/1900_Galveston_hurricane
Layne
Sonoma County
Good read. Thanks for the link
ReplyDeleteVern
I have a subconscious gravitation here for commentary...
ReplyDeleteWell done Kong.
S.V.
San Jose CA
My favorite blog. My $0.02 worth:
ReplyDeleteThere are essentially two systems: 1. capitalism 2. everything else. Feudalism is effectively an early communism. Even ancient Rome's Maximus implemented an early form of communism which led to its ultimate demise.
Alan B.
Sutter County, CA
If I might make one more demand, err, suggestion to Dr Politikong.
ReplyDeleteHow about a new blog every day? Hell, how about twice a day. I'm so friggin addicted.
S.F. Connors
Paradise Valley, AZ
Wow
ReplyDeleteWhat a blog, even a cave man can understand it
Thanks for the work, but who the fuck is listening
Jose Santos - LA
Like Dr. Politikong has been warning, those concerned with the economic viability of the American family going forward, the plight of young workers, especially young men, is particularly frightening. The percentage of young American men who are actually working is the lowest it has been in the 61 years of record-keeping, according to the Center for Labor Market Studies at Northeastern University in Boston.
ReplyDeleteOnly 65 of every 100 men aged 20 through 24 years old were working on any given day in the first six months of this year. In the age group 25 through 34 years old, traditionally a prime age range for getting married and starting a family, just 81 of 100 men were employed.
For male teenagers, the numbers were disastrous: only 28 of every 100 males were employed in the 16- through 19-year-old age group. For minority teenagers, forget about it. The numbers are beyond scary; they’re catastrophic.
Kerri Alan
You are preaching to us, your loyal readers, it is incumbent upon us to spread your message.
ReplyDeleteMy sincere thanks for shining light on what is dark.
John V.
Seattle
Politikong,
ReplyDeleteThanks for this blog. Lately, it's been harder to believe I am sane.
Appreciate all your work.
C.J. Langley II
I agree with Dr. P., no one should think the economy is improving. Here's another example that I just learned this morning:
ReplyDeleteHave a girlfriend in Cincinnati, Ohio who just bought a house (because she received substantial "help" on her down payment from the state and federal government and got a great price on the property). She closed in May.... Right before she closed on her house, I asked her "why are you buying a house right now with the economy in the toilet?"... her reply was "my job is stable - very stable - I'm not worried about losing it as I work in an industry that is insulated from all the problems".....
Well, this morning she called me to let me know she lost her job today when she went in to work - no warning, no typical "indicators" of problems... just, wham! - you're out!
Nothing is improving, people, nothing!
Arthur Gryder
Las Vegas
Every time I'm in danger in feeling happier, I just need to tune in to Politikong to remind me the world's about to end.
ReplyDeleteI wouldn't have it any other way though...
Nick Savo
We pay people to be unemployed, we pay people to be sick and we tax the living shit out of people who do work and aren't sick. This is what gets me - the fact that this little crisis is still regarded as a credit crunch or banking crisis.
ReplyDeleteIt is not. It is the beginning of the end of a very stupid economic system that was cobbled together after the 1930s and formalised at Bretton Woods. It was backed up by endless governments mis-measuring inflation and unemployment and debt etc and then mis-setting interest rates and taxes etc for transient political gain, never once realising or admitting that this would come back to bite them.
Don't say the good Doctor didn't warn you.
Martha D.
Los angeles
Finally a blog that makes sense!
ReplyDeleteJ. Sykes
"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson."
ReplyDelete-- U.S. President Franklin D. Roosevelt in a letter written Nov. 21, 1933 to Colonel E. Mandell House.
Donna Gee
Jefferson County
Sorry but the scene from The Golden Child where eddy murphy is walking on the poles and he's saying you're just making it look like there's no floor in here. There's a floor. And he flips the quarter and listens and never hears anything and starts screaming. There's no floor in here!!! Of course that's not what is really happening. What's really happening is the quarter is turning into a dime and then a nickle and then a penny and then turns to nothing.
ReplyDeletei like this blog because there are many scary-smart individuals here and it challenges me to put an extra effort in accepting new viewpoints. something i would surely not do if i would to read another blog. i like it here.
ReplyDeleteDoes anyone actually know why Obama appointed the already tainted Mary Schapiro to head the SEC? Is he that ignorant, or a paid tool of the banking cartel?
ReplyDeletePlease don't answer, my question is rhetorical.
James Lundy
Atlanta, GA
To put it as it should be put, in criminological terms, the bankers cannot be rehabilitated and they are beyond deterrence (or "moral hazard" in this context).
ReplyDeleteThe ONLY way to stop the crimes is incapacitation (which if severe and rigorous enough may also have deterrence value in the future).
Stop blogging and sharpen your axes FFS.
DeShawn Parker
W. Virginia
Dr. Polit., you do a great job exposing the fraud and corruption as well as pulling the veil back from all our Gov's lies. But you fall short of making suggestions how to deal and survive in this corrupt madness.
ReplyDeleteHELP PLEASE.
M. Ochoa
Syracuse NY
Watch out for the next bomb to explode.......PENSIONS.
ReplyDeletePolitikong, can we have an expose on pensions?
Rebecca (2 years from retirement and no savings - God help me)
Woooooooooooooooow! I wanted to make a comment Mr. PK but everything I was going to say has already been said by one person or other.I shall wait till the next posting and get in at top.
ReplyDeleteJane White. New follower
Montreal Canada
This blog has become the new rage on cyberland.
ReplyDeleteWell deserved. Keep it up, this war has just started and we found a leader.
Kevin
Pinnacle Peak, AZ
Where are the cops???
ReplyDeleteThank you for this insightful blog.
Jeremy Dodds
Bellville, WA
This blog is SPOT ON.
ReplyDeleteAs Senator Dick Durbin said "they own the place". The financial and political oligarchy will try and squeeze blood from the taxpayer stone. Let there be no doubt about that. Ultimately the math will win - by next year the government debt will be around $15 trillion and annual interest payments on that debt will be around $500-$700 billion. This can only continue to escalate so far when it becomes untenable. No different than how the most recent "mortgage finance" credit bubble burst.
What happens when the average working stiff realizes he has been shorn of everything and his childrens future? If history is any guide then we should expect demagogues that will incite us vs them and divide the population to control them. They will find scapegoats in some of the weakest groups - lynch mobs will take out their frustrations on these groups. Spontaneous or willfully orchestrated?? While the kleptocracy abscond with their ill gotten gains and maintain political power with an iron fist. This is how brown shirts and goose steps come into being.
We are inexorably moving towards the dark side of human nature and history.
M.A.
Fresno, CA
i`m just wondering how long it will take to buy Dr. Politikong and silence him?
ReplyDeleteDon't betray us......PLEASE.
Jackie Steward
Carmel, CA
P.S. I can't wait for tour next blog.
Dr., I may be from out of town, but....are you saying there may be FRAUD involved?
ReplyDeletePatrick
I love this blog...
ReplyDeleteI love my country...
I am appalled by my government...
I'm not alone either.....
The people of this country have been sacrificed for Wall Street.
Bay Meadows, California
Dum Dum dee dee Dum dee dee Dum Dum da Dee....(SALUTE)!!!!
ReplyDeleteLove Dr. Politikong!!!
Love the message!!!!
Long live America
Politikong, I'm scared.
ReplyDeleteI lost my husband this year and he left me with a big mortgage, a $65,000 debt and $23,000 on our credit cards. I only have a pert time job at Rennicks Ins., but luckily no kids to worry about.
What should I do, should I default since I'm doing my best but can't keep up? Will things get better? You are my only hope.
Kathy Becks
Sacremento, CA
I was beginning to think maybe I was the fool for having little debt, hoarding cash and keeping expenses low. maybe not.
ReplyDeleteBravo, bravo, bravo.
ReplyDeleteFinally a voice in the wilderness to represent the people.
Hats off to you sir or madam whatever the case may be.
Mike Smith
Gennora, NM
Boooooooom.
ReplyDeleteThe voice of reason = Dr. Poliitikong
The voice of freedom = Dr. Politikong
A great American = Dr. Politikong
Only the truth and nothing but the truth.
ReplyDeleteThe most truthful blog on the net. Very special.
Edwardo Inda
San Diego
What a great meeting place. Thanks Mr. Politikong.
ReplyDeleteThe really scary thing to me is not the position we are in, but the fact that few people understand why we are in this position and the concept of a sustainable future. Congress isnt really thinking about a sustainable financial future. Combine that with no common culture - no common religion, no common race (not a bad thing by itself), no common purpose - what do we find to come together and work hard and equally to pull out of this mess?
Its hard not to be depressed these days.
C.A. Blanc
Arcadia, CA
@ anon 9:23PM
ReplyDeleteYour post goes to show that if an infinite number of monkeys look at blogs, one of them eventually will look like it has understood something.
Politikong, thanks for the great writing! I enjoy your blog and sarcastic style. Very refreshing.
ReplyDeleteAlex B. - Clairview Falls
Dr. P. I have a simple question:
ReplyDeleteHow will all this end? Thank you in advance.
Melvin Stute
Palm Meadows
To: Kathy Becks
ReplyDeleteSacremento, CA
Kathy,
Unfortunately I can't give financial advise on this blog for 3reasons.
1. I am not a licenced professional financial adviser...
2. I don't want to start personalizing the blog by offering advise.
3. I do not know enough details about your personal finances to attempt to advise you. I am really sorry I can't help you.
You should, however, find a reliable, honest, LICENCED personal financial adviser who preferably works for a known financial institution and he/she will advise you appropriately and expeditiously as to your options. Most will do it for free or for a small fee. If you can avoid personal bankruptcy without causing yourself much hardship, that would be your best choice. The financial adviser will be able to advise as to your best option.