The "Financial Tsunami" is here! (with ongoing updates) - Part 2


This is a handy, more convenient, continuation of "'The 'Financial Tsunami' is here! (with ongoing updates) - Part 1". The idea is that you can have quick and easy access to the ongoing stream of material being generated over this issue by the VDM (Vestigial Dinosaur Media) without having to search back through the archives. Anyone who truly wants to understand the Big Meltdown needs to watch the fabulous video produced by Canadian artist Paul Grignon, "Money As Debt", in addition to reading my essay, "Money - what government schools will NEVER teach your children about it!".

It's important to remember: money is a stupid-human illusion/delusion. Only imaginary numbers of fraudulent imaginary money has been lost. Everything REAL is still in existence. All the land, buildings, farms, houses, cars, trucks, buses, people, horses, cows, dogs, cats, ducks and chickens ARE STILL HERE. The only thing that has happened in this big "Financial Tsunami", this economic Big Meltdown, and the only thing that will have happened after the dust has settled, is that ALL THE REAL STUFF HAS CHANGED OWNERSHIP. So, explain something to me, all you head-in-the-sand Einsteins out there who think people like me are merely "unpleasant trouble-making radicals" to be avoided, how is it somehow OK with you that banks (and their owners) get to foreclose on REAL STUFF when they have taken absolutely zero risks, and loaned absolutely nothing whatsoever real to the poor ignorant working-class debtors they are foreclosing on? Because it's not OK with me, and it was provably not OK with America's Founders.

Here's what Thomas Paine had to say about the subject:

“The laws of a country ought to be the standard of equity and calculated to impress on the minds of the people the moral as well as the legal obligations of political justice. But tender laws, of any kind, operate to destroy morality, and to dissolve by the pretence of law what ought to be the principle of law to support, reciprocal justice between man and man; and the punishment of a member who should move for such a law ought to be DEATH.”


"To punish the oppressors of humanity is clemency; to forgive them is cruelty."  — Maximilien Robespierre, 1794

Financial Times Whining: "The Internet Makes The Recession Worse" - Financial Times - "Through blogs, websites and e-mails the world’s economic ills are fed to us on a drip all day long. It is not just that we hear about bad things faster, we hear about more of them and in a more immediate way. My worries become yours, and yours become mine. On the internet, a trouble shared online is not a trouble halved. It is a trouble needlessly multiplied all over the world."

Worst January on Record for Stocks - Wall Street Journal

Massive Layoffs as Gloom Deepens - BBC

We Can't Spend Our Way Out of This Quagmire - Cato Institute - "In reality, excessive money growth drove asset prices up and drove interest rates down, making people feel richer than they really were and lowering the cost of borrowing money to facilitate more spending. Since the level of spending before the period of excessive money growth was just sustainable, the resulting level of consumption and business investment spending was unsustainable. The solution is to allow asset prices to fall to levels that accurately reflect what our economy can produce."

Circuit City to liquidate remaining US stores -

Arabs lost 2.5 trillion dollars from credit crunch: Kuwait -

Report: Over 8 in 10 corporations have tax havens - APNews

Citigroup Stock Falls Below Critical $5 Level -

Obama: Recovery will take years (Drudge's headline) - AP - "President-elect Barack Obama . . . warned that economic recovery won't be . . . swift. 'It will take longer than any of us would like — years, not months. It will get worse before it gets better.'"

Biden: U.S. Economy in Danger of "Absolutely Tanking" - ABCNews (George's Bottom Line)

Bush says he didn't compromise soul to be popular - Breitbart - "'I'm a free market guy,' Bush said. 'But I'm not going to let this economy crater in order to preserve the free market system. So we made a lot of very strong moves and it's been painful for a lot of people, particularly because, you know, this—the excesses of the past have caused a lot of folks to hurt when it comes to, like, their 401(k)'s or, you know, their jobs.'"

The Fed rips up the rule book - Financial Times - "We are flying blind . . . The US real economy is crumbling and continues to deteriorate; the global downturn has been exacerbated by a crippled domestic financial system. Credit is not flowing to consumers and businesses because risk spreads are too high."

George W. Bush: "I've abandoned free-market principles to save the free-market system" - - (W is in effect saying, "I've abandoned individual freedom to save individual freedom, I've espoused fascist neo-feudalistic slavery to save an individual-freedom-based 'system.'" What a TOTAL crock of arrogant, despotic, Orewellian Newspeak insanity! - JRW)

Tax Hell! (Drudge's headline) - New York Post - "Gov. Paterson yesterday socked New Yorkers with a mind-boggling 137 proposed new and hiked taxes on everything from beer to cab rides to iTunes downloads and movie tickets." "The doomsday, $121.1 billion plan represents the biggest tax hike in state history and slashes services across the board - while still increasing spending by $1.4 billion." "'Unfortunately, we have lived beyond our means,' the Democratic governor said. 'We have to recognize that we've made too many promises and unfortunately asked for too few sacrifices. We are going to have to change our culture as we know it.'" (I thought a picture of a hardcore neo-feudalistic "globalist" like Bloomberg was consistent with the "feel" of the story. - JRW)

Dollar plunges in wake of Fed move - Financial Times - "The US currency suffered its biggest one-day slide against the euro since the birth of the single European currency in January 1999 as the euro jumped from under $1.40 to above $1.44."

Dollar No Longer Haven After Fed Moves Rate Near Zero - - "The dollar is likely to decline 'longer term,' analysts including New York-based Ashraf Laidi at CMC Markets wrote in a report. 'Prospects ahead appear particularly ominous for the world’s reserve currency once global economic stability starts to build up.'"

Bernard Madoff's massive fraud will cripple American capitalism -

Russian activists assail government treason bill - AP - "MOSCOW – Russian rights activists say that a new law drafted by Prime Minister Vladimir Putin's Cabinet would allow authorities to label any government critic a traitor. The draft extends the definition of treason from breaching Russia's external security to damage to the nation's constitutional order, sovereignty or territorial integrity. A group of prominent rights activists, including head of the Moscow Helsinki Group Lyudmila Alexeyeva and head of Civic Assistance Svetlana Gannushkina, said in a statement Wednesday that passage of the bill would return the nation's justice system to the times of Soviet dictator Josef Stalin's purges." - (Doesn't Putin remind you of some SMERSH character out of a Bond movie?! So when is Obama and the U.S. Congress going to try the same thing here? - JRW)

Downturn Spurs 'Survival Panic' for Some in the US - CNBC - "In the coming months, mental health experts expect a rise in theft, depression, drug use, anxiety and even violence as consumers confront a harsh new reality and must live within diminished means."

Depression possible: Canadian PM - Breitbart

Fed Refuses to Disclose Recipients of $2 Trillion - - "Americans have been bamboozled." - Economic Battle - Debating the current state of the economy, with CNBC's Steve Liesman and Rick Santelli - This "battle" between Liesman and Santelli is truly excellent in the level of information it provides to the viewer. - "The bailout will face tough opposition by Republicans on the Senate. Insight with Sen. Bob Casey, D-PA and Sen. John Ensign, R-NV." - (Senator John Ensign is 100% correct in his reasoning for opposing the Big Auto Bailout. Check him out, with the lovely Becky Quick playing devil's advocate. - JRW) - Parting Shots - Final thoughts, with James Chanos, Kynikos Associates president/founder.

Peter Schiff Was Right 2006 - 2007 (2nd Edition) - YouTube video - Peter Schiff is correct about basic Economic 101, watch all the establishment scumbag propaganda liars make fun of Peter. If you want to understand how this "financial tsunami" happened, watch this video! (This particular video was included on the Part 1 page, but it is of sufficient importance to warrant duplicating here.)

GM, Chrysler Bankruptcies Would Cause Turmoil for U.S. Economy -

Auto Bailout Fails - Fox News

Why home values may take decades to recover - USA Today 

Bank of America to cut up to 35,000 jobs - Reuters

Jim Rogers calls most big U.S. banks "bankrupt" - Reuters - "Jim Rogers, one of the world's most prominent international investors, on Thursday called most of the largest U.S. banks 'totally bankrupt,' and said government efforts to fix the sector are wrongheaded."


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