How sure are you, America, that we have avoided economic collapse? Dylan Ratigan discusses bank bail outs that are in excess of $23 Trillion and the problems still facing our economy.
(Video below excerpt and commentary)
The President continues to say in public that banks have almost paid Americans back. That is a lie. The fact is the TARP, which Congress approved, is only 2% of the trillions of dollars in free money being provided to our banks by the Federal Reserve and The Treasury. The American people know this. And yet, the TARP lie continues to be spread by our politicians.
Our problem, Mr. President, is either you don’t understand it, which I doubt – I’m sure you do. You don’t want the American people to understand it, which would be understandable, although I also doubt that. Or, perhaps you’re hoping no one will notice all the other support and the big spending infinity from the Fed will make the whole thing go away.
I’m here to tell you. The problem will not go away until you actually fix it.
This entire exercise is being done right in the open because the powers that be have somehow convinced a majority of Americans that they can and have saved the system. Perhaps even President Obama has been convinced by heads of the Fed, Treasury and his economic advisers that financial meltdown is no longer a threat.
Hat tip Rick Blaine via The Coming Economic Depression Blog
The pumped the system with 23.7 trillion with the first wave of this collapse. Imagine how much they will pump with the alt-a/option arm explosion,commercial real estate bomb, muni and corporate bond meltdown, the Pension nuclearÂ bubble,credit card bubble. Its frightening cuz the second wave will be much worse. They might even pump 50 trillion. This is going to end very very bad.
Mardochee, you’re absolutely right…. Technically, there is no limit to how much they can pump into the system… $23 Trillion already? what’s another $50 trillion?
The likely end result is dollar debasement or a complete collapse of the world’s reserve currency. Of course, the challenge is figuring out the time frame. How much longer can they hold up the system? a year? five? twenty? Hard to say — the money pumpers know this game well and likely have some of the best minds in the world working on the machinations.
if you want to know how it all will end look at this video. this is coming in a city near you.
I can only assume you have some first hand experience with the tragedy that was theÂ Russian invasion of Chechnya and it’s something of an emotional issue for you.Â OtherwiseÂ your postÂ makes absolutely no sense.
Who’s going to invade the U.S?Â Mexico?Â Canada?
Perhaps you are comparing some expected civil strife in the U.S. to the Russian invasion. Any comparison is ridiculous. If the U.S. experiences a dramatic deterioration from here, there could be riots, looting &Â violent crime. But the majority of U.S. citizens are law abiding. As the industrialized country with the highest percentage of firearm owners, it’s the criminals who should be worried.
Now – if sometime down the road we (the U.S. Citizens) find ourselves collectivelyÂ in a really bad spot, and the consensus is that the GovtÂ is now working against the interests of the citizenry, there could be another American revolution. ButÂ it will not be anything like the first. Technology has changed all that. The 2nd revolution will be quick…..
How was this on MSNBC?Â Isn’t that the Obama Network?Â Kudos to Ratigan for stepping up.Â
They will be law abiding until they are starving and homeless, at that point, if it were to get that bad, all bets are off.Â
I hopeÂ the progressives never realize they only have one real chance at any kind of victory,Â they would have to start a civil war now, before they lose much more support, while they still have the young idiot college kids and the inner city poorÂ on their side.Â They need the youngs vigor and the disaffected’s anger , as the rest of their worshippers are a bunch of gunless, spineless, elitists wussies and won’t have a chance if we decide to get really pissed.
Arming their dwindling minions is the only chance they have to implement their plans or at least break apart the country and claimÂ Â a few states where they could build their “utopia”.
I don’t think havingÂ a big world typeÂ war will even work like it did back in the 40’s, we are on to them this time.
Re: “They will be law abiding until they are starving and homeless, at that point, if it were to get that bad, all bets are off.Â ”
I agree. And as I mentioned, when a critical mass of the people feel that their Govt Â has abandoned them, it will get ugly fast.
However I still feel (hope?) that we are a long way from that. A Financial Collapse is ‘only money’. More problematic would be some kind of widespread Disaster – with a Capital D. As we saw w/Katrina, bringing timely relief to affected populations larger than 100k is difficult; greater than 1 million would be nearÂ Â impossible; greater than 10 million……
In Michigan here, I know A LOT of people on unemployment, professionals, contractors, etc, etc.Â Once that dries up things will get ugly, but I am guessing the guvment will keep printing the money and doling out the benefits until the elections, they assume they will have millions of people relying on the money and even those that hate obama and company will vote for them for fear of losing benefits if they don’t.Â Lesser of two evils, notÂ feeding your kids or removing the criminals.Â So insidious this all is…..
“Lesser of two evils, notÂ feeding your kids or removing the criminals.”Â should have read…
Lesser of two evils, notÂ feeding your kids or NOT removing the criminals.
Tom – your comments on Kev’s pc. sound a bit condascending and presumptuous.Â Kev’s videoÂ Â is justÂ theÂ Â condition of what civil unrest Â looks like..
My comment on Kevin’s clip was not intended to beÂ condescending.Â It was meant to be critical.
The Battle of Grozny was not a ‘condition of civil unrest’.Â The Battle of GroznyÂ was a foreign invasion of an urban cityÂ by military units ofÂ heavy armor and combat infantry. This was war made on a civiliian population.
Regarding presumption, I took Kevin’s choice of the Battle of Grozny to be intentional.Â In my comment I offer two possible scenarios the clip is meant to be illustrative of: either he believes the U.S. will be invaded as was Grozny, or he believes that the Battle of GroznyÂ is what ‘civil unrest’ is like. I take issue with either premise and my comment reflects that.
In your chastisement of my comment you too seem to think The Battle for Grozny is merely ‘the condition of what civil unrest looks like.’ Perhaps the citizens of Grozny would find your comment condescending & presumptuous.
I’m in northeastern MN. Unemployment(U3)Â in theÂ mid 20s here. I have to imagine U6 is over 30%.Â I’ve been out of work since 10/08 – it was a 5 month ‘temp’ job operating heavy equipment – after being out of work the prior 6 mos following a successful markets & finance career. Long story short, no benefits….nada. Toss-in an inconvenient & expensive divorce and you’ve got yourself a pretty interesting situation….
But as a country we’ve been in this hole before. The difference is this time they’re still digging…..
So we’re going to have to do something and hopefully soon.
my clip is to show what the cities across america will be like. this clip is the best illustration of what an uncivil war will look like. Â the ciites of america will have bloody urban battles between militas,gangs, the future CivilianÂ nationalÂ security force. so if its not a good illustration of what uncivil warfare is then i apologize.
Kev, civil or regional,Â the blood will be the same. Historical or politcal nuances aside. Some of us caught your intent. I do believe though, we here,Â are all seeing a similar potential realityÂ unfolding.
Kev, thanks for the clarification. Paul, I agree that most of us are witness toÂ a potential great unravelling. However to you both, I do not believe that the U.S. Military would conduct combat Â operations on U.S. soil without a foreign invader.
Â Will the increasingly tactically armed police, or the Blackwaters of the world get aggressive? Perhaps they will try. But consider that the Chechnyans retook Grozney from Russian Armor with ‘light’ weapons. A police force, even one without scruples, would be crushed by popular revolt in the U.S.Â in short order.
So if I might go back to my remark to Capn Ahab – WhenÂ a critical mass of theÂ people feel that the Govt has abandoned them, then Revolution is possible.
In this day & age, the technology exists in basement & garage workshops & labs to effect a major impact wrought by a very small group. McVeigh was just a guy with some fertilizer and some fuel oil. What could a real scientist do? A chemist, a physicist, a biologist……
If a 2ndÂ revolution ever occurs – and I hope it doesn’t need to – I think it will be quick. Too many people are already prepared for it….
Â Tom,Â your knowlege in military affairs is respectable, I did not see any any inference to the use of US militaryÂ relivant to previous comments, now that you mention it though, what about REX -84 or The Military Comissions act? Â Â And the redeployment ofÂ NorthCom in theÂ US. I know we are getting away from the subject matter but….
You’re giving me way too much credit, but thanks. Kev’s clip and some of the collateral commentsÂ seem to meÂ descriptive of a high intensity conflict. My thinking is the only entity capable of prosecuting such a campaign would be U.S.Armed Forces. AndÂ I don’t believe they would, even under orders. So it falls to lesser and more thuggish entities to assert controlÂ andÂ any conflictÂ thereby becomes a low intensity affair. Neither whichÂ IMO could be won by an oppressor.Â We are a very crafty society. And frankly I think the analysis has been done, they know it’s a fine line and they’re toast if they cross it.
So I expect more of the same corruption, theft & ditheringÂ until financial collapse. Some civil disquiet will ensueÂ but mostlyÂ overall calm will pervade. And then a rejiggering of the system, perhaps as envisioned in my Cardboard Manifesto post.
And we dust ourselves off and start over….
Of course we may yet see a gallows erected in the middle of Wall St…..THAT would be something to tell the grandkids about!
The US military is comprised of soldiers/airmen/seamen from all around the nation. And a large percentage of the US citizens are prior military.Â These people know how to operate weapons from the military, andÂ active duty militaryÂ would think twice about firing on their own. However, as active duty armed forcesÂ are deployedÂ around the globe fighting others wars. In other words, spread too thin. and trappedÂ in foriegn lands.Â Â unable to return to the US.Â But, What if another country’s military is contracted out by NorthCom Â to do the dirty work of the US military? While the US is busy fighting other wars? Â Chinese? Russians? on US soil?Â Â
food for thought? maybe, but in short WWWIII will ensue right away.Â
I’d rather see all of Wall Street brokers as wellas the Â gun toting goldmanÂ sacksÂ gangs, like AIG and other bailed out thug banks, and a few other investment bankers involved in the TARP bailout. Â be hung in the streets like Mussolini and his sidekicks in Italy.Â Â Preferably hanging by meat hooks, in the heat of the day.
You all think the bailout/tarp money for the banks was legit back in 2008? Think again, we the people are being played by Obama as he id the front man for the world banks, which orchestrated this bailout, when the loans which were taken out during the 90’s and 00’sÂ were due in 08! But there was no money. The money was created out of thin air. The money was created when Paulson demanded from congress over 700 billion to clean up those debts were just calledÂ (credit default swaps/Â ALT-A loans/ other fancy names that i can’t remember). The american peopleÂ are the suckers for paying this made up money back to the fed.
An audit of the fed will reveal who got what, but will implicate paulson and geithner, as they paid themselves back for following through with heisting the american people with taxes that our future great/great /great grandchildren will have to pay back.Â
Gerald Celente has been talking about this for over a year. so has Catherine Austin Fitts. google/youtube these names. listen and listen again, then listen again till this crap sinks in.Â This stuff is real, so shut off the TV, listen to me, we are being played like a fiddle.Â
Â Alex Jones is right, this really is a prisonplanet!Â Â
ps. google his nameÂ or prison planet too. Â have a nice ride.
Bush was no saint either, just as guilty as the Bush Sr,Â and current. Tri-Latteral Commission ring a bell? Wikipedia that one. it’s all about New World Order. It’s not a myth, it’s real.Â
Watch fall of the republic on youtube, or endgame, shadow government, or the obama deception.Â
time to wake upÂ or die!
I just need to know one thing and maybe one of you can answer this. Â Who does Obama work for / report to? Â His actions are not consistent with his words. Â His actions all seem very destructive to the American people. Â He has to be aware of all of the corruptionÂ occurring in all levels of government and banking yet he has not even asked the attorney general to investigate one thing. Â Not even the AIG rip off. Â We have been betrayed by our political representatives from both parties and the president. Â Â How can anyone explain the vote in favor of Bernankie’s re-appointment. Â We were sold out and betrayed again. Â This president should be impeached immediately. Â His faithful co-conspirators like Nancy, Harry and others should also be shown the door. Â Â Does anyone know how a group of citizens can initiate impeachment proceedings to rid our government of these corrupt progressive politicians?
Dylan was GREAT on Fast Money, but he is even BETTER on DR: Kick ass, Dylan! These Banksters need to go to jail, or better yet, tarred and feathered and hung upside down (the same position that they have put America) in Times Square!
The President is a relative newcomer. He’sjust trying to play the Political winds plus he’s clearly getting bad advice. For the most part, I think many of them are just clueless and happy to be looking at a future career on Wall St…..
The Chinese can’t actually ‘call in’ the debt. They can sell the Bonds on the open market which would pressure bond prices – which results in higher borrowing costs. If they merely stop buying new bonds our national borrowing costs will likely go up.
As far as our natonal legislators, macÂ kindlyÂ put up my post on the subject but perhaps you missed it:
They all gotta go…..
As an aside, I used to see the otherÂ Mr. T (of ‘A-Team’ fame) periodically driving around Chicago in his Rolls Royce – mohawk & gold chains prominently displayed. He’d always wave if you waved at him…..Only in America.
Â Mr T- Obama is influenced and controled by Brezinski, Henry Kissenger, and various global interests which exert there infuence thru The Coucil on Foreign Relations,( controled by a faction of The Comitee of 300… Google it. ) The Builderberg Group ( Barry and Hillary met in Virginia on the same day at the same place , Builderburg was meetingÂ when she bowed out for a position as Secratary of State) Google also The August Review ( lots of Trilateral Comission news) . Once you look into the rabbit hole it gets really strange.
A financial collapse would much more ugly than a natural disaster, orÂ MAJOR terrorist attack as it would be nation/world wide.Â If you haven’t yet, read some material on the most recent, the Argentinian collapse (or Rwanda but they are too far different societally to be a good comparison), it won’t be just money.Â No money means no food, no recreation, etc. People will get sesperate.Â Even after 2 recent collapses, they are looking at a third, just shows humans never learn their lessons.
This is not like the depression of the 30’s, people are FAR less self reliant than they were then. Take away cheap walmart goods and more importantly food, it is a disaster in the making.