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Gotta’ hand it to you racist assholes, it’s pretty damned impressive how you’ve started two chicken-shit paid for on my grandkids’ credit card wars, bankrupted both the national and international economies by facilitating the simultaneous transfer of both pretty much all of the public assets to the private sector and pretty much all of the private debt to the public sector, reignited the war on women while regressing the country to a level of Jim Crow racism we haven’t seen in at least fifty years… and manage to blame it all on the black guy.
That, is pretty damned impressive.
It’s really rather simple… if you can read. Time magazine’s 1933 Man of the Year and Hitler butt-boy Benito Mussolini defined Fascism as “Corporatism, the wedding of the corporation and state.” Simply put, Fascism is where the corporation not only controls the means of production but controls the means of distribution – the state – as well. Socialism, on the other hand, is where the state – the means of distribution – controls the means of production – the corporation – as well. Simple, subtle, yet distinct difference. If you don’t know the difference, perhaps you shouldn’t publicly comment on the two.
It is better to keep your mouths shut and let folks think you’re fools…
Go below the fold for both Mussolini’s definition, and Lawrence Britt’s 14 Defining Characteristics of Fascism… Read the rest of this entry »
America – its government, businesses, and people – are nearly $60 trillion in debt, according to the latest economic data from the St. Louis Federal Reserve. And private debt – not government borrowing – is the biggest reason for the huge deficit.
Total US debt at the end of the first quarter of 2014, on March 31 totaled almost $59.4 trillion – up nearly $500 billion from the end of the fourth quarter of 2013, according to the data. Total debt (the combination of government, business, mortgage, and consumer debt) was $2.2 trillion 40 years ago. “In 50 short years, debt has gone from being a luxury for a few to a convenience for many to an addiction for most to a disease for all,” James Butler wrote in an Independent Voters Network (IVN) op-ed. “It is a virus that has spread to every aspect of our economy, from a consumer using a credit card to buy a $0.75 candy bar in a vending machine to a government borrowing $17 trillion to keep the lights on.”
When I was a kid my grandparents owned a mercantile (general store), gas station, motel and restaurant – Ivan’s Corners – down in LaPine. On the wall in the store was a hand-painted pine-plank sign that read, simply:
“In god we trust, all others pay cash”.
I may not have anything, but I don’t owe the banks one damned dime.
I am free. You are not.
From its pyramid-shaped throne on the back of a dollar bill…
By Tony Norman, @Common Dreams
“I am the god of the 1 percent. You shall have no other gods before me. I help those who help themselves and visit poverty over many generations to those who would redistribute the wealth that I have freely given to those who luxuriate without guilt in my love. I reward the spirit of material excess because I hate poverty and the poor who have rejected my ways.
“I am a vulgar god who never tires of the misery perpetuated by those who exploit the resources of the planet for tax breaks and personal gain. The smoke of belching coal plants and runoff from hydraulic fracturing pleases me. Let those who refuse to rape the earth that I have made in six days be accursed.
“I am the god of ‘In God We Trust.’ You shall have no other gods before me. Give to the poor (if you must) out of your excess and at your discretion. Don’t be compelled by guilt. The poor don’t need a safety net as long as I, the god of the Koch brothers and Ayn Rand, lives in the heart of every patriotic American. It is money that I love, not mercy for its own sake. Mercy without conditions offends me.
“I am the god of the morally upright. I abhor homosexuals, Democrats, mimes and all who believe in global warming. Those who have AIDS can give all glory to me. It is by my hand that every dread disease except obesity and cancer is visited upon the earth. Do not be fooled: I loathe the followers of Lady Gaga. Women who refuse to submit to male authority are an abomination.
“Those who believe in me know evolution is a lie straight from hell. The dinosaurs drowned during Noah’s day because the ark couldn’t contain them. This is not a mystery if you believe science is evil with all your heart.
“I am the god of war. I love violence and the mindless proliferation of guns in every home. Horses and bayonets proclaim my glory over the whole earth. That is why America is my blood-stained footstool. Guns don’t kill — I do.
“I am the god of the Invisible Hand. I hate the 47 percent who siphon the productivity of my blessed Job Creators. On Election Day, I will pour out my wrath on those who receive the mark of the Kenyan Keynesian. Repent of your idolatrous liberalism, or else.”
Is what happens when a single parent gets $10 more a week in food stamp money.
Or as Dr Black put it… “Given the eagerness of the powers that be to aim the free money bazooka at anything resembling a failing giant bank, the incentives for those running them aren’t to try to limp along through troubled times, but instead to blow themselves up spectacularly.” Nope, no moral hazard in that at all.
You’ve all heard that old canard about Bankers jumping from high-rise office windows on Black Tuesday. It’s just that, a canard. History rewritten by those in a position to get away with it. They didn’t jump. They were thrown. Rightfully so.
All you freaks blind with budget cutting bloodlust ought to give that some thought, before you lay off any more cops. They’re all that stands between you and me. And I’ve got no problem if they gun me down, as long as I take a few of you with me.
Bad news for the global economy: Men – who run everything, still – are so beholden to fluctuations in their ever-zany hormones they may doom the system through inevitable, stupid, testosterone-fueled mistakes. So says a new book on biology’s role in market behavior, based on research that analyzed traders’ spit during market sessions and found that men are having their periods, like, all the time, so beware.
“Market participants aren’t the rational automatons of most financial theory. They are biological organisms responding with a neural and physiological apparatus designed millions of years ago.”
Put ‘em in jail… Byr Savings Bank former Chairman Jon Thorsteinn Jonsson and the lender’s ex-Chief Executive Officer Ragnar Zophonias Gudjonsson were found guilty of fraud and sentenced to four and half years in prison by Iceland’s Supreme Court.
“If you don’t know multiple people who are suffering, then you must be living in a very rarefied environment,” he said in a brief address to the Netroots Nation conference. “You must be maybe a member of the [Walden] clan or something.”
“None of this has to be happening. We didn’t have a plague of locusts, we were not hit by a tsunami, there wasn’t some act of God that created this terrible situation. It was acts of man.” … “Solving this depression is not fundamentally an economic problem, it’s a political problem.” ~ Paul Krugman, mostly
The recent book “How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War” includes a chapter discussing in detail America’s student loan racket.
It explains a disturbing government/corporate partnership. Students are exploited for profit. Providers are enriched. For many, rising tuition and fees make higher education unaffordable. Others need large loans to attend. As a result, they become debt entrapped.
Some face burdens up to $100,000 or higher. If unpaid after 30 years, it’s a $500,000 obligation. If one defaults or declares bankruptcy, it’s unforgiven. Bondage is permanent.
Lenders thrive from defaults. Wages can be garnished. So can portions of Social Security and other retirement benefits. A conspiratorial alliance of lenders, guarantors, servicers, and collection companies derive income from debt service and inflated collection fees…
I don’t know if the guy who said that was being a little flamboyant, but, ultimately, yes. Here’s the problem with banking. People have described a banker as someone who is willing to lend you an umbrella on a sunny day, ie, if you really need the money, you can’t get it. As I said in Bailout Nation, the history of commercial credit has, for millions of years, been based on the borrower’s ability to service the debt. What took place from 2002 to 2007 is that the borrower’s ability to service the debt was replaced with a new standard for making loans. That standard wasn’t, “Hey, how do we fuck the poor?” but it was the ability of the lender to sell that debt to a Wall Street securitiser. ~Barry Ritholtz, author of Bailout Nation
While the rest of the global economy flows out to the sewer.