The Big Finance FINANCIAL TERRORISM WAR against the American people explained...!

Hallelujah! and PRAISE BE! 
Two new additions to the web illustrate, in plain English and for all to see, the systematic means by which the Wall Street, Big Finance, and  Fed bankers are WAGING economic & financial WAR  against the American people.
  First, a video explaining how not only is current "Fed" Chairman Ben Bernanke a LYING TOOL of his Big Finance financial terrorist sponsors and career mentors,   but that President Barack Obama is also a LIAR, a SWINDLER, and a FINANCIAL TERRORIST  himself, for  PROMISING the American people "CHANGE - you can believe in!"  while DELIVERING   MORE of the very financial terrorism that Bush, Cheney, Greenspan, Paulson, BERNANKE and co. had visited on America,  leading millions of American voters to break the race barrier and vote for  a minority presidential candidate in November 2008, a candidate pledging,  promising, above all, to "change" the ECONOMIC SITUATION in America -

   It must be said:  BLACK and minority voters have done EVEN WORSE under two years of IDIOT, LIAR, SWINDLER and  "step-and-fetch-it" HIRED ECONOMIC HIT MAN Barack  Obama and his PRETEND "liberal" but actually RIGHT-WING  "of, by, and for Golddamn-Sachs" economic policies,  than Black  & minority families were doing back in November 2008 when they proudly  voted  for - and thought they were getting - positive "change."
   As Professor Michael Hudson explained (posted here at DemNationUSA in one of our earlier posts)  back in February, Obama's re-appointment of Ben Bernanke signaled that Obama was running a RIGHT-WING REPUBLICAN style presidency  - JUST LIKE George W. Bush and dastardly Dick Cheney - and, indeed, at the behest of his Neo-Con sponsors and Big Finance puppet-masters, Obama was doing things to the American people that Bush could not have gotten away with - Obama is executing MORE RIGHT-WING big finance attack-on-America policies in 2 years, than Bush and Cheney delivered in EIGHT long years of trying! 

Guns and Butter - Obama's Republican Class War Presidency - February 3, 2010 at 1:00pm

Click to listen (or download)

  But first,  before we get to Barry Ritzholtz's awesome, incredibly simplified  explanation  (in the form of an imaginary letter ffrom Warren Buffet, on truth serum, to the SEC and "Uncle Sucker"  formerly known as Uncle Sam) of the INTENTIONAL FRAUD and SERIAL LARCENY that were inherent in Robert Rubin & Phil Gramm's DEREGULATION of U.S. financial markets in the late 1990s,
we'll first post some quick headline links outlining the REAL news - the real ASSAULT ON AMERICA  that the ENTIRE U.S. "major media,"  the ENTIRE  U.S. education system (and especially college and university finance, politics, and economics departments),  and of course both major political parties are COMPLICIT in WHITEWASHING, distracting, distorting, and diverting  public attention AWAY from -
 -  the better to ENABLE  the  RIGHT-WING   concentration of wealth & power ATTACK ON AMERICA:

BOB RUBIN: "US In Terribly Dangerous Territory," Bond Market May Be Headed For "Implosion"
 (note: As Prof. Hudson explains very specifically in the 1 hr. audio link, above,   ROBERT RUBIN, LAWRENCE SUMMERS, Goldman-Sachs, and Harvard were the architects, NOT of Russia's  ECONOMIC REVIVAL, but of the TOTAL COLLAPSE of the post-Soviet Russian economy under "RADICAL PRIVATIZATION" in the early 1990s,  that saw the wholesale transfer of trillions of dollars of Russian assets, to a handful of Western backed Russian oligarchs,  who had done little to nothing to create those assets (which had been built up under decades of Communist rule) the oligarchs and their Rubin/Summers/Harvard sponsors DEFRAUDED tens of millions of Russians out of their pensions, medical care, and other social services,  while contributing and creating  almost nothing in return.)
  
  Karl Denninger:  (our paraphrase) "90% of Americans WANT STIFF PROSECUTIONS for FINANCIAL FRAUD, and especially for  LOOTING of BAILOUTS, pensions, and mortgage & foreclosure  fraud"  -   a desire that media, press, academic, and political ELITES have CRUSHED 100% !!


Dean Baker:  "The Wall Street TARP [bailouts] Gang WANTS TO TAKE AWAY [steal] YOUR SOCIAL SECURITY."

Karl Denninger: BEN BERNANKE is a FRAUD and a LIAR -
http://market-ticker.org/akcs-www?singlepost=2264971 

IDIOT Obama:  "More Aggressive Anti-Foreclosure Efforts Would Help People Who Don't Deserve It"
(Is Obama TRULY  THAT DELUSIONAL????    "People who DON'T DESERVE financial help  DEFINES  Mr. Obama's fraudulent, financial TERRORIST   BANKSTER BUDS at  JP Morgan-Chase, Goldman-Sachs, Citi-bank, BoA,  and Robert Rubin's other Swindler pals on Wall Street and at the Fed!) 

 Speaking of  DEREGULATION and FINANCIAL FRAUD,  in this  all time classic edition of the Dylan Ratigan show Mr. Ratigan interviews  former S&L  Regulator Professor William Black - who states plainly that Obama SHOULD FIRE  Bernanke, his SEC Chairwoman Mary Schapiro, AND  Attorney General Eric Holder, who have all been DERELICT IN THEIR DUTIES to POLICE, prevent, and PROSECUTE FRAUD in America's financial markets!
 video - http://www.msnbc.msn.com/id/21134540/vp/39836703#39836703

 (transcript) -
IDIOT Obama GIVES IN on extending BUSH TAX CUTS FOR RICH - in time of war,  and  economic crisis for America's non-rich families - who are forced to make good on the "BAILOUTS" than land in the vaults of the wealthy and their bankers!!  

   -------------------------------------------------------------------------------------

 Writing an imaginary letter by Warren Buffet, on truth serum, to  "Uncle Sucker"  (formerly known as Uncle Sam),    Barry Ritholtz explains how the United States government -  the Congress, the executive (government) agencies, and BOTH political parties,   INCLUDING the  so-called "Democrats" -  enabled what would become the decades-long  LOOTING and GUTTING of both the productive (industrial) parts of the American economy,  and specifically the TITANIC FRAUD in the critical financial markets.
  As the above  cartoon video on Bernanke, the Fed, and "Quantitative Easing"  explained, the inherent nature of the Fed - a PRIVATELY OWNED BANKING CARTEL that  "issues"  ALL of America's (dollar) currency "money" - IS INHERENTLY FRAUDULENT, undemocratic,  dictatorial, and PARASTIC - for it, the Fed Reserve very private banking cartel system, ALLOWS  connected operators, to  PREY ON American workers, companies, and especially pension funds,  by using  FAKE, FIAT, CREATED-out-of-THIN-AIR 'money'  to  SIEZE  ALL PRODUCTIVE ASSETS in the country (and world), by organized financial, debt leveraging cartels, and creating such concentrations of  fiat money that large fund operators can  "PUMP & DUMP"   EXTRACT the real wealth RIGHT out OF  pension funds, by COORDINATED pump-and-dump stock PRICE MANIPULATION by large funds operators working together.  (See Jim Cramer's "how large hedge-fund operators like me MANIPULATE markets and individual stock prices -  he uses the word "fomenting"- and he uses as an example large companies like Apple (APPL) and Blackberry (RIM)"!!  and video here.) 

Dear Uncle Sucker . . .
By Barry Ritholtz - November 17th, 2010,

Before I get to the bailouts, I have to remind you that in:

• 1999, you passed the Financial Services Modernization Act. This repealed Glass-Steagall, the law that had successfully kept main street banking safely separated from Wall Street for seven decades. Even the 1987 market crash had no impact on Main Street credit availability, thanks to Glass-Steagall.
• 1997-2010, you allowed the Credit Rating Agencies to change their business model, from Investor pays to Underwriter pays — a business structure known as Payola. This change effectively allowed banks to purchase their AAA ratings, and was ignored by the SEC and other regulators.
• 2000, you passed the Commodities Futures Modernization Act. It allowed the shadow banking industry to develop without any oversight by the Commodity Futures Trading Commission, the SEC, or the state insurance regulators. This led to rampant creation of credit-default swaps, CDOs, and other financial weapons of mass destruction — and the demise of AIG.
• 2001-04, the Fed, under Alan Greenspan, irresponsibly dropped fund rates to 1%. This set off an inflationary spiral in housing, commodities, and in most assets priced in dollars or credit.
• 1999-07, the Federal Reserve failed to use its supervisory and regulatory authority over banks, mortgage underwriters and other lenders, who abandoned such standards as employment history, income, down payments, credit rating, assets, property loan-to-value ratio and debt-servicing ability.
• 2004, the SEC waived its leverage rules, allowing the 5 biggest Wall Street firms to go from 12 to 1 to 20, 30 and even 40 to 1. Ironically, this rule was called the Bear Stearns exemption.

These actions and rule changes were requested by the banking industry. Rather than behave as adult supervision, you indulged the reckless kiddies, looking the other way as they acted out. You were the grand enabler of the finance sector’s misbehavior. Hence, you helped create the mess by allowing the banking sector to run roughshod over decades of successful constraints. (Kudos again on that). (cont'd)

IDIOT Obama has accomplished the IMPOSSIBLE: he has RESSURECTED the BUSH brand in just 2 years flat! Jebby Bush looking polished & popular in glow of Marco Rubio's Florida senate win...

There is a simple reason that Democrats GOT TROUNCED last night in mid-term election voting 2010:
      Because, FAR from delivering the "CHANGE!" that he promised as a presidential candidate  in every waking moment of campaign 2008,  President Barack Obama has instead delivered the DIAMETRICAL OPPOSITE of real change - he has spent the past 2 years delivering MORE of the REPUBLICAN Right-Wing "BAILOUT THE BANKERS - STARVE, FORECLOSE, EVICT, FIRE,  & SLASH pensions and   social safety net programs for everyone else" agenda that saw his predecessor, George W. Bush, flown out of Washington   on Helicopter 1 from a landslide of discontent by  literally millions of jeers, catcalls, & raspberries during Obama's Jan. 2009 inauguration. 
  Before we  try to outline and define (below)  Obama's  RADICAL RIGHT-WING Neo-Con POLICIES that led to this tidal wave of voter REJECTION (if not hate) for  the Obama-Pelosi so-called "Democrat" leadership' 'agenda  -
( a tough task, because there are literally  THOUSANDS of  articles, websites, links, and details to substantiate every specific Right-Wing economic SABOTAGE policy we allege against Obama's very Neo-Con presidency)   -
we will  first simply point out that IDIOT Obama has done the impossible:  
  HE HAS TARRED HIMSELF (and the Democrats)  with BUSH & CHENEY's DESPISED policies almost across the board -  (TORTURE, BAILOUTS for larcenous, fraudulent, criminal bankers,  titanic accounting FRAUD at the Fed,  titanic  Bernie Madoff/Enronesque/Wall St. FINANCIAL LARCENY in DEREGULATED markets, EXPANDING WARS,  EXPANDING DEFICITS,  ECONOMIC CONTRACTION, JOBS OUTSOURCING... SUBSIDIZED by taxpayer dollars!,  continuing FOSSIL FUEL GLUTTONY & DEPENDENCE, SLASHED educational & social programs, POLICE STATE POWERS and the GUTTING of citizens' civilian rights,  including CONTINUED de facto apartheid in America's "war on drugs," etc., etc., etc.,  ad naseum) 
   - and, yes, there was JEBBY BUSH,  THIEF of the 2000 elections,  KILLER of Florida's late 1990's era   Gov. Lawton Chiles (Democratic)  state BUDGET SURPLUS;       Gov. Jeb Bush he guy who LOCKED DOWN FLORIDA in a STATE OF MARTIAL LAW  days BEFORE  the 9-11 terrorists hit the NY World Trade Center twin towers (yes, the Bush brothers KNEW IN ADVANCE that Al Qaida terrorists would be acting to kill Americans in early September of 2001)  -
    IDIOT Obama has  SO FOULED and CORRUPTED the "Democratic" Party brand in two years, that he has all but RESURRECTED, restored, and polished   the BUSH BRAND, in just 2 years flat!

Yes,  that was JEBBY BUSH on TV last night, looking tanned, polished, and BASKING in the senate victory of his Florida Republican protege, Marco Rubio - Democrats SWEPT OUT of statewide office in Florida thanks to IDIOT Obama's "OF, BY, and For Golddamn Sachs"  "bailouts" larceny & financial fraud, even though Florida retirees are probably THE BIGGEST BENEFICIARIES  of Democratic "liberal" NEW DEAL and Great Society  programs - from Social Security to FDIC to stock market oversight to GI Bill to other  college  & education  subsidies and jobs creating "big government spending" over the past 5 decades -   IDIOT Obama has  TARRED Democrats with RIGHT-WING REPUBLICAN FAILURES, and thereby has POLISHED UP Jeb Bush's, we loath to say it, presidential prospects! 

 WHAT AN IDIOT!  

     Obama is either TOO STUPID, OR TOO CORRUPT, to  TRASH his  ENTIRE  Neo-Con "of, by, and for Goddamn-Sachs"  "economics team," the MANCHURIAN CANDIDATE TRAITORS who  are IN LEAGUE with the WORST ASPECTS of Right-Wing Republican reactionary economic & social sabotage, people such as LAWRENCE SUMMERS and Peter Orsag who during the Clinton administration urged Congress to pass  the RADICAL RIGHT-WING  REPUBLICAN Phil Gramm written Gramm-Leach-Bliley Act and Commodities Futures 'Modernizations' Acts - both of which, along with NAFTA, GATT, China MFN, and other "Free Trade" deals, empowered Wall Street sharpies to LOOT America's critical financial markets... just as Wall Street insiders had done earlier with the titanic INSIDER DEFRAUDING of Savings & Loans, and government bailouts, from the late 1980s Savings & Loan crisis.
   WHY THE HELL did Obama EVER  put  PETER ORSZAG  a "KEEP THE BUSH TAX CUTS FOR RICH"  Social Security gutting economics HACK in the "Change" White House in the first place???!
    As we will shortly point out,  ORSZAG's name is on the "Social Security CAT FOOD COMMISSION," so called by FireDogLake founder Jane Hamsher  because it is designed by Right-Wing economics parasites, to  TRASH America's Social Security, and drive America's seniors back to 1920s and Great Depression DEATH by STARVATION conditions - the "REFORMS"  idiot Obama has EMPOWERED this commission to consider, would FORCE seniors to choose between life-sustaining prescription drugs or medical care and real food, hence, low-income seniors would be driven to subsist on cat food.
 
With RADICAL RIGHT-WING appointees in critical economics positions  like "cat food commission" Peter Orzag,  "Freddie Mac fixer"  Rahm Emanuel,  economy extortion & sabotage specialist Larry Summers, Goddamn-Sachs partner Gary Gensler, and  ECONOMIC SABOTAGE "maestro" Ben Bernanke,
  IDIOT obama has  RESURRECTED the  BUSH BRAND, in two years flat !!!

 Below,   FireDogLake's  Blue Texan summarizes, in one short paragraph, the DESPISED   __RIGHT-WING__ policies that have gotten Democratic candidates SLAUGHTERED last night:

 3 Things You’ll Hear about the Election Tomorrow That are Total Bullshit
By: Blue Texan,  Tuesday November 2, 2010
  ...Total Bullshit #2. "Obama should move to the middle if he wants to save his presidency."
    "Given that Obama has cut taxes, opened up offshore drilling, passed Mitt Romney’s health care plan, appointed a deficit commission for the purpose of curtailing socialism entitlements, doubled down in Afghanistan, continued and amplified the Bush/Cheney national security policies, expanded the War on Terror(TM) into Pakistan, retained a huge footprint in Iraq and increased the defense budget, where exactly is this 'center' he’s supposed to move to? Between Jim DeMint and Lindsay Graham, apparently."

   Over a year earlier, in Feb 2010, Jane Hamsher (also of FDL)  caught the RADICAL RIGHT-WING NATURE of  IDIOT Obama's "social security 'REFORM' plan," 
"Obama, Social Security and the Diamond-Orszag Plan," which commentary we repost at the bottom of this post. 
  But first, we point out that EVEN as IDIOT Obama has GIVEN the Right-Wing Republicans the ideological  & policy  HATCHETS and AXES they need to SLASH America's social safety net and disaster insurance programs...  he, Obama,  is GIVING the Fed license to PRINT UP ANOTHER  $4 TRILLION,  which fiat-money  LOOT will land DIRECTLY in the Big, FRAUDULENT banker's vaults...

•  Business Insider: QE2 Is Not A Recovery Plan, It's A Stealthy Scheme To Prepare For The Next Bank Bailout 
•  Business Insider: QUANTITATIVE EASING OFFICIALLY BEGINS WITH $600 BILLION IN TREASURY PURCHASES 
• NY Times:  Fed Will Buy $600 Billion in Debt, Hoping to Spur Growth 
• cnn/Fortune.com:  Goddamn-Sachs Demands Fed Print up $4 TRILLION to BUY WORTHLESS "assets" from  FAILED, BANKRUPT, CORRUPT, predatory, INFLATION causing member/OWNER banks of the Fed (including GS of course) 
• zeroHedge: Goldman - The Fed Needs To Print $4 Trillion In New Money

 [note: "Hoping to Spur Growth" IS A LIE:  Geithner & Bernanke are EMPOWERING the mega-banks that OWN the Fed, to DESTROY the U.S. economy: all those BILLIONS $$ - 4,000 BILLION in this "QE2" splurge alone -  allow the mega-banksters to CORNER the world's essential commodities markets, JACKING UP  PRICES for life-sustaining commodities... which TAKE purchasing AND investment dollars, OUT of the hands of working families -  OUT of the REAL economy.    THIS is how the treasonous  New York Times and Washington Post LEAD the  INTENTIONAL SABOTAGE DESTRUCTION of America's economy, by  WHITEWASHING  Neo-Con big bankers economic SABOTAGE, with one thousands little white lies such as "QE2 is intended to Spur Growth" when the familiar patern is the diametrical opposite. Ultimately, with no timely restraints, this process of GIVING TRILLIONS to big, predatory, fraudulent bankers will result in either the HYPER-INFLATION of Wiemar Germany that led to the rise of the Nazis in 1930s, or to the SIEZURE of land and crops that led directly to the GREAT IRISH FAMINE of 1845-1852... which was but one of many famines Ireland endured under the tender mercies of English guns, ruthless landlords, and predatory, parasitic merchant-bankers.]

...which  $4 TRILLION in  the newly named "Quantitative Earnings 2"  BAILOUTS they will use to BID UP the price of life sustaining commodities,  in their continuing, relentless, and accelerating WAR ON the AMERICAN PEOPLE.

       IDIOT obama is  GIVING  the Right-Wing treasury looting financial parasites FOUR TRILLION MORE DOLLARS, to  ATTACK American working families with!!
   And the STUPID LIARS of America's "major media" press/media, continue to paint Obama as some sort of "Lefty / liberal" !!!
   Below, Jane Hamsher explains how Obama was INTENDING to GUT  Social Security... way back in Feb. 2009, that is, immediately after  IDIOT Obama became president!

 Obama, Social Security and the Diamond-Orszag Plan

By: Jane Hamsher Thursday February 12, 2009  

 http://firedoglake.com/2009/02/12/obama-social-security-and-the-diamond-orszag-plan/

 Ben Smith says today that the left is "silent on Social Security reform" even as the administration considers it, and quotes Blue Dog Jim Cooper who says Obama is "in a honeymoon phase, and many liberals are afraid to express concerns."
Atrios calls it trolling. Perhaps it is, but there have been signs that serious Social Security reform is in the works, and people who have been briefed on the administration’s plans indicate that things like raising the retirement age and cutting benefits are under consideration.
Consider — in December, Cooper said a report  which showed "that the governments unfunded liabilities are roughly $56 trillion" was "shocking."  He called for a commission to address it, which Hoyer endorsed but Pelosi opposed.   The White House agreed to it in January:

Obama said that he has made clear to his advisers that some of the difficult choices–particularly in regards to entitlement programs like Social Security and Medicare – should be made on his watch. "We’ve kicked this can down the road and now we are at the end of the road," he said.

So who is going to be on this panel? Kent Conrad, Judd Gregg, the Blue Dogs and "a host of outside groups with ideas on the matter."  Said Paul Rosenberg:

So, Blue Dogs in. Progressives? Not so much.  Surprised?  Didn’t think so.  The agenda here "difficult choices–particularly in regards to entitlement programs like Social Security and Medicare" is straight out of the fiscal slasher movie on CNN last weekend, IOUSA, which Digby blogged about earlier in the week, and which was thoroughly debunked by economist Dean Baker and his associates at the Center for Economic and Policy Research (CEPR), which he co-directs, when it first came out in theatrical release last fall. 

Whatever plan the task force comes up with, Cooper does not want Congress to be able to amend it. 
Cooper was a health care spokesman for Obama during the campaign.  Mike Lux sounded the alarm at the time, noting that Cooper had been critical to killing health care reform in 1993/94 and was a solid spokesman for the insurance industry position. Digby has more of his history.

  ----------------------------------------------------------

Notice how Obama uses the oh-so-typical WASHINGTON & NY ESTABLISHMENT terms "DIFFICULT CHOICES" and "ENTITLEMENT SPENDING" to set the stage for GUTTING  Social Security.   WHAT THE HELL is an "ENTITLEMENT" about a program that FORCES self-employed workers to donate NEARLY 15% of their take home pay to a GOVERNMENT program???? 

  In plain english,  one of the first things SO-CALLED "liberal" President Barack Obama did, in Feb. 2009, was create a "Social Security 'REFORM' commission" - which he and his Manchurian Candidate Right-Wing Neo-Con White House "economics team" hacks like Lawrence Summers and Rahm Emanuel  proceeded to stack with RIGH-WING  Social Security hating hacks!

  To sum up this long, "rant" of a blog post, all we can say is "WHAT AN IDIOT!" Barack Obama is - he apparently never even listened to HIS OWN 2008 campaign speeches, he has EMBRACED the DESPISED Bush-Cheney-Hank Paulson agenda as his own, now THE ONLY THING LEFT for Obama to do, is START DROPPING BOMBS ON IRAN, for fun, profit, and to milk whatever favorability he can out of his Right-Wing Neo-Con masters...

  "STEP & FETCH IT" Obama, to appease his Neo-Con & Neo-Confederate masters,  is going, in the next 2 years, to  EXPAND the U.S. wars in the Mideast, and kill THOUSANDS more Muslims in the Mideast,  in a sadly delusional effort to win approval and placate the murderously ferocious radical right wing.... just as George W. Bush ALLOWED the 9-11 terrorists to attack America, so he, Cheney, and the Wolfowitz PNAC crew could institute their lusted-for war on Iraq, and police state dictatorship powers in America.  

Obama's Neo-Cons....

 The Unholy Trio: The "Democrats" masters of Neo-Con political sabotage, economic destruction (bailouts & "deregulation" license to titanic financial fraud) and  Neo-Con (Israel war-lobby) war-mongering TREACHERY:  left to right, Rahm Emanuel, Lawrence Summers, & Robt Rubin.

Rahm Emanuel's fingerprints are ALL OVER, not only the Democrats' DISMAL election prospects tonight, but the ECONOMIC CRISIS that has ONLY GOTTEN WORSE since Barack Obama foolishly picked the Right-Wing, AIPAC, JOE LIEBERMAN CLONE to be his White House Chief of Staff two years ago - Larry Summers is the chief architect of the Neo-Con Fed Reserve + GoldmanSachs/JP Morgan "bailouts & financial fraud" ECONOMIC SABOTAGE of the past 2 years, both Summers and Emanuel are Robert Rubin minions (proteges) - they both worked under former Golddamn-Sachs CHAIRMAN Rubin, when Rubin was Pres. Clinton's Treasury Secretary in the late 1990s.

   =======================================
The most insightful, informative, and important single article or web-page of the past 5 years is DownWithTyranny's post-election 2006 deconstruction  of the Democrats' Campaign 2006 election strategy.... where DWT guest blogger  Paul Lukasiak discovers the appalling truth:  Rahm Emanuel, then (in campaign season 2006) in charge of the Democrats' entire Congressional campaign machinery (then  House Minority Leader Nancy Pelosi's hand-picked DCCC Dem Congressional Campaign Committee chairman) ACTIVELY sought to SABOTAGE the Democrat's election chances!
  HOW RAHM EMANUEL LOST THE HOUSE FOR THE DEMOCRATS-- AND HOW ACTBLUE, MOVEON, MARKOS, JANE, DUNCAN, HOWARD DEAN AND A HOST OF OTHERS SAVED THE DAY
  WHY? would  "liberal Democrat" Rahm Emanuel want to SABOTAGE the Democrats' chances at gaining majority power in the November 2006 elections?  
 - ans.:  Because Emanuel was a JOE LIEBERMAN clone,  a RADICAL RIGHT-WING LIKUDNIK WARMONGER and Goddamn-Sachs TREASURY LOOTER  (the two are synonymous),  and just as JOE LIEBERMAN tried to SABOTAGE the Democratic candidates in the 2006 elections (Lieberman actively CAMPAIGNING FOR _REPUBLICAN_ presidential candidate John McCain)  to bring about the AIPAC (Jewish war lobby) wet dream of a U.S. ATTACK and INVASION OF IRAN,  so too did Rahm Emanuel  hope to ENABLE his FELLOW NEO-CON Likudnik warmongers in the Bush-Cheney administration in November 2006 - who would have bombed every infrastructure target in Iran immediately after election 2006, if Republicans had maintained control of the House & Senate.
   Thus far - election eve Nov. 2010 - Barack Obama and Nancy Pelosi's ONLY real accomplishment (besides becoming the first woman Speaker of the House, and first minority president, respectively)  has been in STAVING OFF the Neo-Con (Jewish war lobby) + Right-Wing Republican LUST to ATTACK, INVADE, and DESTROY Iran...
    but this accomplishment  is now hurtling over a rocky precipe, with Republicans set to take charge of House (and possibly Senate) committees, and, at the INSTIGATION of the JEWISH WAR LOBBY,  they will AMPLIFY  EVERY  "war crime" alleged against Iran  that (literally) billions of dollars of War-Lobby marketeers can dream up  (see Jewish War Lobby professional liar Douglas Feith's "Office of Special Plans" in the Rumsfeld/Cheney War Department after 9-11 2001) 
 
  IN DISHING OUT  TENS, upon hundreds, upon THOUSANDS of BILLIONS of taxpayer dollars to the Goddamn-Sachs/JP Morgan-Chase banking cartel, Barack Obama and Nancy Pelosi have EMPOWERED  both the Republican REHABILITATION... and the next upsurge in MORE WAR LUST. 
  OBAMA's Sheer FRAUD:  _HIS_  administration, and HIS government agencies,  are trying to BULLSHIT Americans that there is NO, or very little, INFLATION - when in fact,   REAL inflation, for the goods and services that Americans NEED to LIVE on, are SKYROCKETING.   Obama is either a COMPLETE IDIOT... or as cruel,  ruthless, & incomptent  as cartoon character Snidley Whiplash,  to either NOT KNOW, or HAVE NO EMPATHY FOR, the MILLIONS of Americans who are being POUNDED by the INFLATION wrought by mega-bankers with nearly UNLIMITED access to "fiat money"  FREE CAPITAL (near ZERO interest rates) -  if not ACTUAL "free money" in  the form of TRILLIONS of dollars of taxpayer extorted "bailouts" GIFTS!

Global food crisis forecast as prices reach record highs
 John Vidal, environment editor, guardian.co.uk,
  Monday 25 October 2010
http://www.guardian.co.uk/environment/2010/oct/25/impending-global-food-crisis
Cost of meat, sugar, rice, wheat and maize soars as World Bank predicts five years of price volatility
• Six casualties of the world food crisis
• UN warned of major new food crisis at emergency meeting in Rome

  A-List:   Food Fight:  Wheat & corn prices up 30%, cost of meat at record levels! Speculator Mike Masters explains why: "Because there is already much more capital available in the world than hard commodities, speculators can increase the price of consumable commodities, like foodstuffs or energy, much higher than traditional consumers and producers can react. ... When derivative markets are linked to commodity markets, this nearly unlimited capital from the financial sector can cause excessive price volatility."

Cowardly, Lying, Thieving, Corrupt "Democrats' GIVE A FREE PASS to Fannie Mae & Freddie Mac for Titanic ACCOUNTING FRAUD...

Make no mistake: Republicans are NO BETTER, and are just as bad... if not worse - at masking and covering up titanic FRAUD in America's critical financial markets as "Democrats" are...
  but when  "Democrat" Congressman Gregory Meeks (D-NY), says that  Fannie Mae and Freddie Mac  DO NOT NEED a massive, criminal accounting overhaul and top-to-bottom audit -  the equivalent of giving "someone heart surgery when they don't need it" -  in Congressman Meeks words...
 
 ...and when "Democrat" Congressman Lacy Clay (D-Missouri) takes Congressman Clay's criticism UP a notch, saying that any attempt to AUDIT Fannie & Freddie is "about the POLITICAL LYNCHING of Franklin Rains" -  then democracy has come to its nadir, Black Congressmen Meeks and Rains are REPRESENTING FRAUDULENT, INCOMPETENT, criminally complicit or corrupt EXECUTIVES, and the BANKERS they deal with (Goddamn-Sachs, JP Morgan-Chase, Citi-bank, BoA, etc.)   AT THE EXPENSE of their minority (working-class Black, Latino, and other exploited groups)  voters and constituents.  

  Sadly, we must report that even the feisty Congresswoman Maxine Water (D-NY) - who is in trouble with the "Democrat" Neo-Con "leadership"  for demanding that  SOME portion of the BILLIONS of "bailouts" dollars that Pelosi & Obama dished out to criminally fraudulent banks  be delivered to her  local community bank  -  is "IN" on this CRIMINAL FRAUD WHITEWASH of Fannie, Freddie, and the FRAUDULENT MORTGAGES that Fannie & Freddie "purchased" from criminally fraudulent banks and "mortgage originators."

  Congresswoman  Waters is JUST AS MUCH  a REPRESENTATIVE of the Goddamn-Sachs economy killing financial mega-fraudsters banking cartel, as Dianne Feinstein, Rahm Emanuel, Chuck Shumer, Hillary Clinton, Barack Obama, Tim Giethner, Robert Rubin, Lawrence Summers, and Ben Bernanke are.   
  FOR SHAME, epresentatives!  

   These minority "Democrats"   are AS BAD AS BARACK OBAMA, who has dished out  TWENTY TRILLION DOLLARS to the thieving Goddamn-Sachs/JPM  banksters in just 2 years flat, even as he mounts his White House bully pulpit to deliver Right-Wing REPUBLICAN talking points,    accusing  FORECLOSURE FRAUD VICTIMS of  being "UNDESERVING" of mortgage relief! 

Obama Gets ALL the BLAME for America's ECONOMIC MELTDOWN... as a result of HIS OWN INSIDIOUS White House Neo-Cons !

President Barack Obama is not a very wise or intelligent man:   He is a victim of his own arrogance and conceit -

...he REFUSES  to EXAMINE the economic data that surrounds him (the TITANIC ECONOMIC COLLAPSE that ENGULFS America) objectively, because IF  he did want a genuine and UNBIASED ACCOUNTING for America's economic crisis,  he would DEMAND of his Treasury Department, Wall Street, and the Fed Reserve Bank  a COMPLETE ACCOUNTING for every dime of the "BAILOUTS" that his Emanuel, Summers, Geithner, Bernanke, Gensler (et al, ad naseum -  Robert Rubin minions and toadies all)   "Financial Geniuses" have DISHED OUT to the Big Banks - an amount now well over $20 trillion - TWENTY TRILLION of taxpayer extorted "Bailouts" that IDIOT  Obama  is,  at best, completely UNWARES of (or, at worst, COMPLICIT in the titanic DEFRAUDING of American taxpayers to the benefit of wealthy, fraudulent, criminal bankers). 

 There is a SIMPLE REASON that President Obama Gets _ALL the BLAME_ for America's ECONOMIC MELTDOWN...  HIS OWN INSIDIOUS White House Rubinite Neo-Con "economic team" is MAKING NO EFFORT to disclose all that TITANIC FRAUD,  they are HAPPY to let their Neo-Con comrades at the New York Times, Washington Post, Wall Street Journal, Fox 'news,'  Weakley Standard, and other Neo-Con outlets  PAINT  the "Democrats"  WITH THE BLAME for  TWO DECADES of  financial "DEREGULATION" now leading to this "TOO BIG to fail"  "BAILOUTS" EXTORTION  INSANITY !!!!!!
  Indeed, Obama has GIVEN, AT TAXPAYER and American workers' expense, MORE TRILLIONS of taxpayer extorted dollars  to the fraudulent, predatory, economy-killing bankers, in just TWO YEARS of "bailouts," than Bush, Cheney, Paulson, John Snow, and Alan Greenspan could STEAL from the American economy in eight long years of economic sabotage....

     Polls show Republicans don’t believe that bankers and their frauds played any role in the economic meltdown, Obama responsible for most of it  (ht mk)

Former RTC S&L Regulator William K. Black: "FIRE Holder, FIRE Geithner, FIRE Bernanke" - for COMPLICITY in "MASSIVE FRAUD" in US mortgages and foreclosure crisis cover-ups....

"FIRE HOLDER, FIRE GEITHNER, FIRE BERNANKE, GET PEOPLE IN who will SUPPORT THE RULE OF LAW" - Prof. William K. Black, former lead investigator of the Savings & Loan clean-up RTC crew,  on the Obama administration's CRIMINAL COMPLICITY with TITANIC FRAUD in U.S. financial markets & especially "mortgage backed securities. "

  Mr. Black's comments towards the very end (about 9:15 in video)  of this 3 person Dylan Ratigan show  discussion, in response to Dylan asking -

"[What about]  all the TAXPAYERS who are being asked to SUPPORT this CORRUPT and FRAUDULENT banking system through Fannie Mae, Freddie Mac, the Federal Reserve, and  DIRECT EXPENDITURES  authorized by our own Congress..."
 [see our  below graphic $1.6 trillion taxpayer extorted "bailo;uts" dollars in the MORTGAGE CRISIS, ALONE]
 "...what can we do to amplify demand to see what percentage of the papter that was given to the gut of American taxpayers by George Bush, Hank Paulson, and  then perpetuated by Barack Obama and Tim Geithner,  what percentage of [those loans were]  indeed FRAUDULENT, and why don't we know it  two years later?"  

  Prof. Black responds:

•   "That's exactly what we've been calling for... WHY DIDN'T WE KNOW [this] at least 5 years ago, when most of it was done?"  [because the Greenspan - Bernanke - Giethner Fed was IN BED with the big NY & Wall St. bankers]
•     "Bernanke has just announced 'They're going to do an intensive review of the assets they accepted as collateral.'   So you wait a year-and-a-half, and THEN you look at your collateral?   Now what would happen if you were the most Junior VP, at a small Savings & Loan, if that's what your approach to business would be?  This [Fed Reserve Chairman Ben Bernanke]  is supposed to be the most sophisticated guy in the world."
• "We have the ability, because of Fannie, and Freddie, the Federal home loan banks, and the Federal Reserve taking all this 'money' in collateral,  to do a superb sampling job, to tell us exactly what happened in mortgages....
•   ...it can NOT BE DONE BY THE FED,  because it's in a complete CONFLICT of INTEREST.
•  the Fed CAN NOT ADMIT that IT TOOK OVER A BILLION-and-a-half dollars in TOXIC GARBAGE, and did not recognize the losses on it...   [this was a de facto GIFT -extorted from taxpayers -  by Greenspan, Bernanke, and Geithner to their buddies at the Big Banks on Wall St.] 
•   ...so it [Bernanke & Giethner's Fed] has  LED THE COVER UP. 
•  "IT's THE FED, THROUGH BERNANKE,  DELIBERATELY, working with the Chamber of Commerce and the American Bankers Association, who got Congress to EXTORT the Financial Accounting Standards Board, to PERVERT the accounting  rules,   so they wouldn't have to recognize the losses.  Because they DON'T have to recognize the losses, they [the bankers]  REPORT FICTIONAL INCOME and MASSIVE BONUSES, and they gut the Prompt Corrective Action law."
•   WE call for bringing in the FDIC, which is the best of the worst, and the GAO, to  look...
•  "...WHERE EVER WE LOOK, we FIND MASSIVE FRAUD....  and [we need to] LOOK NOW - Fannie & Freddie have started to look... AMBAC said that...
•  .....97% of the loans that Countrywide  sold [TO  U.S. GOVERNMENT mortgage-buying agencies]  were sold under FALSE REPS & WARRANTIES."
•   "NO CONVICTIONS, Dylan, NO CONVICTIONS [of financial crimes by the Obama administration]  versus over 1,000 in the Savings & Loan debacle [in the early and mid-1990s].
•  FIRE Holder, FIRE Geithner, FIRE Bernanke, get people in who will enforce the rule of law."

 Mr. Black at the beginning of his comments (after "Foreclosure Nurse"  foreclosure relief activist Lisa Epstein, at about 5:11 in video) -

1. "Last week, for the very first time, a Nobel prize winner, Joe Stiglitz, said "THIS CRISIS IS ALL ABOUT FRAUD.  Now Krugman still can't quite bring himself to use the 'F' word very often...
2. "but emprically.... Lisa's analytics are  correct in most places.. ... while Geithner's analytics ARE DISASTROUSLY WRONG in most places
3. "Credit Suisse says that by  2006, 49% of ALL MORTGAGE ORIGINATIONS   IN  the United States were LIARS LOANS...
4.   "The lowest incidence of fraud when we study Liars Loans, is 50%,  and  that's when the fraudsters study themselves, when  independent folks study it, it's in the 80% to 90% range."
5.   "That means THERE WERE MILLIONS OF ACTS OF FRAUD" 
6.  "Those LOAN FRAUDS occur  NOT because there is some clever person making $20,000 a year,  who is able to deceive the banks, BUT BECAUSE THE BANKS  created INCENTIVE STRUCTURES for the loan brokers to BRING THEM the ABSOLUTE WORST OF THE WORST loans, and to LIE on the application forms  to hit the magic ratios on loan-to-value and things  like that  a homeowner wouldn't   have even   known  which number to put in."
7.   "These FRAUDS CAME FROM THE BANKS, and they propagated through the system through a series of what we call  'ECHO EPIDEMICS'... in which they GOT APPRAISERS first to GIVE THEM GROSSLY INFLATED VALUES, and there are excellent numbers on that,  to get outside auditors to give them CLEAN OPINIONS on LUDICROUS  financial statements, EVERY SINGLE  TIME they were able to get  a clean opinion,  and every single time, virtually, they were able to get a TRIPLE-A RATING out of the CREDIT RATING AGENCIES."
8.   "So this FRAUD did in fact SPREAD THROUGH THE SYSTEM."
9.  "And that's why we have a crisis in foreclosures now... this stems from the UNDERLYING FRAUD by the lenders in mortgage loans   to the tune of more than, well over  a million cases a year by 2005."
10.  "Virtually every time they were able to get a TRIPLE-A RATING [AAA]" - on SHEER GARBAGE, JUNK, FRAUDULENT, toxic, and criminal mortgage loan originations!   

bonus -  "Mortgage Backed Securities" should REALLY mean,  "MALICIOUS BANKERS WITH SYPHILLUS"  - "Mortgage Nurse" Lisa Epstein's comments are equally insightful, from the beginning of the above Dylan Ratigan show video.

Prof. Michael Hudson explains THE INSANITY of Americans: SOCIALIZING the CREDIT LOSSES of THE WEALTHY... while effectively PAYING for the CONTRACTION of American & world economies...

Professor Michael Hudson explains, in plain english, the EPIDEMIC STUPIDITY and  contagious INSANITY of America:  Americans are COMPLETELY PROPAGANDIZED by our wealthy elites (who OWN the press, media, corporations... AND the entire  U.S. government) -  and the United States,  and other world governments, have made a conscious decision, TO BAIL OUT THE WEALTHY (for the BAD LOANS that THEY, in their greed, wrote to high-risk loan buyers)  EVEN at the cost of ECONOMIC CONTRACTION of the   REAL American economy:

  
 Prof. Hudson demolishes  the notion - SOLD  by chronically LYING  press/media talking heads and  "economics" and "Financial"  "experts" -  to the GROSSLY IGNORANT American public:    that the "BAILOUTS" will  be PAID BACK by the financial sector, is  SHEER STUPIDITY, and Orwellian (or Naziesque) LIE,
   for the simple reason that  IF  the  BAD LOANS, upside down mortgages, and TOXIC DEBT __COULD__ be made whole in the future,  AT A PROFIT,
 then PRIVATE 'investors' WOULD HAVE BEATEN the government to purchasing those bad debts and loans... which have been labelled "TOXIC"  precisely because THEY ARE TOXIC - there is NO  "profit" to EVER be made from these loans,  EXCEPT that the wealthy (and their bankers) have USED the crisis, as an EXCUSE, to DIRECTLY EXTORT American consumers, taxpayers, and the United States treasury.

In short,  Stupid Americans - and the INSANELY CORRUPT press, media, economics, and financial departments of EVERY major corporation AND University in America - are ALLOWING the United States government to PAY TRILLIONS of dollars TO THE WEALTHY...
 TO CONTRACT the American economy. 

  We are PAYING the treasonously greedy, selfish, and anti-American debt lords, to  WRECK our American economy!  

Professor Michael Hudson:   THE DEBTS __ARE__ going to be written off...
they've said there are EIGHT TRILLION DOLLARS worth of BAD REAL ESTATE DEBTS... IF the government had just let MARKET CONDITIONS take their place when Lehman Brothers went bankrupt in September [2008] , Lehman mortgages were trading on the market at 22-cents on the dollar.
    Now at this point, buyers could have come in and bought the mortgages at 22-cents on the dollar, they could have renegotiated with homeowners and real estate owners and said, "OK, we're going to RENEGOTIATE your debts... at 24-cents or even 25-cents on the dollar, that would have given them a profit.... debts are GOING TO BE MARKED DOWN to the ABILITY TO PAY, or THEY WON'T be paid.

The reason is that... the governments have had a choice: they can either SAVE THE ECONOMY, OR save the CREDITORS who MADE THE BAD LOANS. That's what the governments are doing today... they're NOT saving the economy, THEY'RE SAVING THEIR CONSTITUENTS. 
UNTIL the governments SAVE THE ECONOMY, and WRITE DOWN THE BAD DEBTS, there is NOT going to be a recovery.
They [they governments] ARE NOT acting in good faith.
What the governments have done, is TURN FROM a DEMOCRACY TO AN OLIGARCHY... and we're seeing AN OLIGARCHY, and in fact A KLEPTOCRACY here.
[Obama is NOT giving Americans the ECONOMIC "CHANGE" that Americans THOUGHT they were getting in 2008 - Obama has "He's BRINGING BACK the BUSH people and the CLINTON people...BROUGHT BACK THE SAME PEOPLE who gave us the RUSSIAN economic crisis... THE BIGGEST INEQUALITY and KLEPTOCRACY in modern times."]
...The FINANCE sector and the REAL ESTATE and the insurance sector[s] are NOT PART of the REAL ECONOMY of PRODUCTION and CONSUMPTION. The ASSET and WEALTH sector is DIFFERENT from the PRODUCTION sector. You can think of the Financial Sector as being WRAPPED AROUND the real economy. Almost like A PARASITE... that's why it's been called PARASITIC for so long. '

[This is especially true given the "FIAT MONEY" MONEY CREATION power of the 'Federal Reserve' VERY PRIVATE BANKING CARTEL.... which "creates" billions, upon TRILLIONS of "dollars" merely as journal entry in the member banks' balance sheets at the Fed... "money" which the Fed bankers "LEND" to the United States government, AT INTEREST! Those WITH ACCESS TO the "FREE" fiat money from the Fed, are EMPOWERED, like PARASITES or super-predators, to BUY UP the REAL, working, valuable assets in the economy. NO ONE can COMPETE on a level playing field, with those mega-bankers who have access to the BILIONS upon TRILLIONS of "free" FIAT DOLLARS floating around in the electronic registers of the mega-banks, which is why LEVERAGED BUY OUT funds like KKR and Goddamn-Sachs, can come up with BILLIONS of dollars to buy companies... which they often proceed to DISMANTLE, and usually proceed to LOOT the PENSION FUNDS of.] 

Robt Kuttner explains KEYNSIAN Economics - and how the Neo-Cons have PERVERTED Keynsian "Deficit Spending" with BAILOUTS and other BIG FINANCE LARCENY of taxpayers' treasury at Workers, Consumers, & Taxpayers' expense...

 Robert Kuttner, of the Huffington Post and The American Prospect magazine, hits the nail squarely and with enough force to drive it home: "Keynsian economics" has NOT been "disproven" by the so-called "Keynsian" economics of the  so-called "liberal Democrat" presidencies of Bill Clinton & Barack Obama,   for BOTH Clinton and Obama have allowed their economic policies to be fashioned by former  Goldman Sachs Chairman ROBERT RUBIN and his career toadies (proteges), from Lawrence Summers to Tim Geithner,  Rahm Emanuel, Gary Gensler and Obama's current Chairwoman of the SEC,  Mary Schapiro (etc.).
     GIVING MONEY to BIG FINANCE and FRAUDULENT financial insitutions IS NOT "Keynsian economics"!   - no matter how the Right-Wing Rubinomics crew tries to paint the long-dead Keynes with the blame for THEIR  titanic economic larceny.
    It will be forever IMPOSSIBLE to deny or dismiss genuine Keynsian economics, because of a little, if well known world-wide event called World War II:  

Robert Kuttner:  "It took the accident of World War II for government to spend and invest at a level that finally brought back full production and full employment. Annual deficits were as high as 28 percent of GDP, more than triple the current level. Once prosperity returned, however, the debt level came steadily down." 

John Maynard Keynes was not just an academic economist, but he was a member of Britain's finance ministry (Chancellor of the Exchequer) during the critical  years of WWI, when Britain had exhausted its capital, bullion, and savings arming and supplying its armies during  grueling years of war with Germany. In a peacetime setting, Keynes also   believed in STIMULATING PRODUCTION (as opposed to the obviously mandatory production of weapons and munitions during wartime) especially for those goods and items that workers with money ("disposable income") would purchase,  if  (during the Great Depression) they had the money to buy anything. 
(That is, stimulate production of  REAL goods that would stimulate what we could call "productive consumption," as opposed to investing government stimulus money in luxury goods, or  speculative financial  bubbles, for example.)   

  They key here, is that  GOVERNMENT STIMULATED PRODUCTION, would, and must, PAY  SALARIES for those new workers now engaged in NEW production -  wages and salaries that would give those now working families the "disposable income"  to purchase those "government stimulated production"  goods that they previously could not afford.

 Demonstrating his incredible prescience,  Keynes RESIGNED as his position in the Finance Ministry   representative to the WWI ending Versaille Peace Conference in 1918, Keynes (who had started his economics career investigating and reporting on the British run colonial economy in India) understanding that keeping a nation, a people, down in subjugation and submission through economic & financial policies would lead to massive repurcussions.
  The ultimate "blowback" repercussion  that Keynes feared, of course,  being the rise of Adolf Hilter,   resurgent (Nazi) German warmongering imperialism in the late 1930s,  and the coming of WWII that Keynes had PREDICTED twenty years earlier when he resigned in dismay over the punitive if not draconian Versailles Treaty imposed on the impoverished German populace.

Recovery, Please 

 Robert Kuttner, Co-founder and co-editor of The American Prospect
Posted: October 17, 2010 
http://www.huffingtonpost.com/robert-kuttner/recovery-please_b_765901.html

....Will the recession just go on and on and on? In the absence of far more vigorous government action, it certainly looks that way.
At a recent conference sponsored by several think tanks, Paul Krugman declared that the recession could literally continue indefinitely because the economy is stuck in a cycle of depressed wages, reduced consumer purchasing power, damaged banks, and business hesitancy to invest -- and no strategy on the political horizon is about to alter this dynamic.
It's not surprising to hear that from Krugman. The startling thing was that his two co-panelists, former Reagan chief economist Martin Feldstein and the chief economist of Goldman Sachs, Jan Hatzius, agreed that massive stimulus spending was the necessary cure.  [note: of course GS types are there to CONTINUE DIVERTING real "stimulus" spending IN TO GS's insanely fraudulent  Big Finance, INFLATIONARY, with NO PRODUCTION TO SHOW FOR IT coffers.]
In similar circumstances in the middle and late 1930, GDP growth turned positive, but unemployment remained stuck in double digits. It took the accident of World War II for government to spend and invest at a level that finally brought back full production and full employment. Annual deficits were as high as 28 percent of GDP, more than triple the current level. Once prosperity returned, however, the debt level came steadily down.
But Republicans have made it impossible for the government to increase spending to create jobs and investment, and deficit hawks of both parties would rather have government tighten belts... [THE SAME IS TRUE of the GODDAMN-SACHS DOMINATED "Democratic" Party.]  
If fiscal policy is inoperative, that leaves monetary policy. The Federal Reserve has abandoned its inflation phobia and is turning to the printing presses (the trendy euphemism for printing money is "Quantitative Easing.") (cont'd)  
Robert Kuttner is co-editor of The American Prospect and a senior fellow at Demos. His new book is A Presidency in Peril.

 Keynes' wiki bio also gives the "liberal" British economist  grudging credit for probably being correct about the need for a "RADICAL" world currency, to help smaller "trade deficit" nations (DEBTOR nations!) avoid THE FINANCIAL MANIPULATIONS and CURRENCY SWINGS that large, unsupervised (or - allied with an irresponsible government, as Goddamn-Sachs  is now so closely allied, as to be virtually synonymous, with the predatory U.S. government)  finanical cartels  could WRECK small, vulnerable  economies:

    http://en.wikipedia.org/wiki/John_Maynard_Keynes#World_War_II
 As Allied victory [WWII]  began to look certain, Keynes was heavily involved, as leader of the British delegation and chairman of the World Bank commission, in the mid-1944 negotiations that established the Bretton Woods system.  The Keynes-plan, concerning an international clearing-union argued for a radical system for the management of currencies. He proposed the creation of a common world unit of currency, the Bancor and of new global institutions — a world central bank and the International Clearing Union. Keynes envisaged these institutions managing an international trade and payments system with strong incentives for countries to avoid substantial trade deficits or surpluses. The USA's greater negotiating strength, however, meant that the final outcomes accorded more closely to the less radical plans of Harry Dexter White. According to US economist Brad Delong, on almost every point where he was overruled by the Americans, Keynes was later proved correct by events.^[34]
The two new institutions, later known as the World Bank and IMF, were founded as a compromise that primarily reflected the American vision. There would be no incentives for states to avoid a large trade surplus, instead the burden for correcting a trade imbalance would continue to fall just on the deficit countries, which Keynes had argued were least able to address the problem without inflicting economic hardship on their populations.

   As we can see,   America's  Bretton Woods negotiators'  near-gloating and arrogance over America's political, economic, cultural, and financial  domination in 1945, has come back to bite the American public in the ass in 2010,  with AMERICA now being THE GREATEST DEBTOR NATION in history,  as a result of  the SHEER LARCENY the Fed Reserve has engineered of the U.S. Treasury and American economy under the insanely corrupt Bernanke/Greenspan/Rubin/Summers/Giethner/Paulson crew OPENING the FLOODGATES  of  CHEAP "fait money" U.S. dollars spewed out by  the  VERY PRIVATELY OWNED Fed banking cabal  controlled U.S. Treasury printing presses [actually, the vast proportion of "new money creation" comes, not as printed dollar-bills currency, but as entries in the balance sheet of the member banks' accounts at the Fed]  and with the financial press openly discussing the Fed and American banks   possibly SEIZING  gold stocks (bullion) of other countries currently held "on deposit" in American bank vaults - so much for  "CREDITORS MUST BE REPAID"  notion that, until now was  the  high holy-of-holies for anyone coming out of the Ivy League, U. Chicago, and other elite economics & financial universities - just as Keynes PREDICTED back in 1945!!

    On two of the most important issues of the 20th (and now 21st) century - the harsh WWI ending Treaty of Versailles conditions leading directly to the "blowback" REPURCUSSIONS of WWII, and the U.S. dominated post-WWII financial system leading directly to the ability of American financiers to RIG world financial markets - John Maynard Keynes was proven astonishingly correct.   Keynes also predicted that cheap credit would lead to hyper-speculative markets - and market collapse. Although the exact timing of the 1929 stock market crash caught him by surprise and nearly ruined his finances, he did recover, amassing a  second fortune worth nearly $20 million  in today's value  before he died in 1945.

  Despite the apparent complexity, Keynsian economics is simplicity itself:  MANAGE a nation's assets, including capital (savings), resources, AND MANPOWER, and USE GOVERNMENT POWERS, to RESTRAIN imbalances in one area or another, specifically, the ability of wealthy elites to CORNER ARTIFICIAL MONOPOLIES, CREATE SPECULATIVE BUBBLES during periods of high employment, and to HOARD the MONEY SUPPLY, when those speculative bubbles collapse into credit contractions - as they invariably do.
   Even simpler still, Keynsian Economics should be looked at in terms of POTENTIAL:  even during THE DEPTHS of the Great Depression (mid 1930s) America HAD THE POTENTIAL to PUT job seekers TO WORK, producing the RIVERS of production that would shortly (1941) become the famous "Arsenal of Democracy" that poured out the mountains and oceans of   material that  turned the tide of WWII.

  No matter how much Milton Friedman and his modern Neo-Con "Goddamn Sachs uber alles" disciples try to PERVERT Keynsian economics,  the simplest measure of Keynsian economics is WHAT COULD BE PRODUCED,  IF  capital allocation and scarce investment resources WERE NOT BEING STRANGLED and choked off  by parasitic banksters profiting (via THE BRIBERY of politicians & government "leaders")  from the EXTORTION of the public wealth, resources, and commonwealth assets.

Max Keiser Explains PENSION THEFT... by GOVERNMENTS IN COLLUSION with Corporate Finance...

Max Keiser explains PENSION LARCENY by world governments - INCLUDING ESPECIALLY the UNITED STATES government,  United States  Congress, and  U.S. presidents, INCLUDING both the entire Republican Party, AND   so-called "Liberal" "Democratic" Party & "Democratic" "leaders"  Bill Clinton, Al Gore, John Kerry , Hillary Clinton, and the corporate world's latest Economic-larcenist-with-a-politician's-smile, Barack Obama:
  
  Executive summary: Max explains that GOVERNMENTS and corporations haveUSED Pension funds - INCLUDING SOCIAL SECURITY -  AS COLLATERAL for hundreds of billions & trillions of dollars, that THEY HAVE EFFECTIVELY LOST,   but corporate, government, and finance "elites" take THEIR SPECULATIVE losses from the "casino derivatives gulag" - and EXTORT, by BRIBING policitical leaders, BILLIONS from the public - while using every dime they steal, swindle, and extort from the public and taxpayers, to TRASH the very pensions and financial wealth of the vast majority of people in any given country: 

Max: You have to understand, that these pension accounts, and various schemes around the world,  including let's say social security in the United States, they've been used AS COLLATERAL for corporateions and for the government to borrow hundreds of billions and trillions of dollars that THEY HAVE effectively LOST making SPECULATIVE BETS on financial transactions that HAVE GONE BUST.

The reason there is no money in these plans, is because bankers  and corporations and the govt have SPECULATED with that money, and they've LOST the money, they've went into the casino of the Global Derivatives Market, and they made HUGE LOSING BETS. 

    As a result, Central Banks are pursuing what they call Zero Interest Rate policies, so if you have any savings at all, if you have any money in a pension account at all,  you're not getting any return on your savings at all. Why? 
  To facilitate the continuation of this model, of letting speculators have all the money they want, at near zero percent  interest to make speculative bets, and any time THEY go wrong, governments IMPOSE AUSTERITYmeasures  ON the public. 
 So it's WELFARE for the bankers and corporations, who get HANDOUTS from the government, but it's "CAPTALISM" for the workers, who end up  getting shafted.
So the workers understand that if Wall Street is paying themselves 144 BILLION dollars in bonuses this year,  A RECORD, an historic record, and THEIR JOBS are paying LESS, and savings accounts ARE PAYING LESS,
 it is because there is WEALTH TRANSFERENCE, A HEIST, A CRIME,  LARCENY,  of moving BILLIONS  FROM ONE GROUP  TO another....

MORE evidence Barack Obama is an Arrogant Idiot: He INSULTS young voters days ahead of election 2010... He is PRESIDING over the INTENTIONAL DESTRUCTION of the American Economy, His Treasury Secretary is the

  This is the "OMG" OH MY GOD, IS OBAMA AN IDIOT!" edition of DemNationUSA, because we can barely believe how incredibly stupid the Harvard trained "law professor" we have as a president is - and how he is marching his administration STRAIGHT INTO THE ABYSS of  AMERICAN FOOD RIOTS and SKYROCKETING POVERTY in the coming year, without realizing the financial crimes that HE has made HIMSELF the face of,  will continue to WRECK what is left of the economy.

Over at Huffington Post, they report  that the Democrats are set to LOSE their majority in Congress:
 "Dems Fear Grip On House Is Lost, GOP Set For Big Gains Everywhere"
  The proof that Huffington Post is really a NEO-CON  complicit-in-financial-crimes PROPAGANDA outlet is in the fact that they REALLY DON'T CARE that the RIGHT-WING REPUBLICAN CRAZIES are about to take control of Congress!
     Looking at the other headlines and stories in today's  New York Neo-Con propaganda outlet (with Arianna Huffington as their pretty, so-called "liberal" front face-woman) -
 One article on the "FORECLOSURE DEBACLE" but, as is usual with ALL the Neo-Con media outlets, there is NO EFFORT made TO FIND A VILLAIN or even a scapegoat, much less to give Americans an accurate accounting of HOW SO MANY LAWYERS, JUDGES, ACCOUNTANTS, and Bankers could GET AWAY with PUSHING  SO MUCH FRAUDULENT PAPER -
 - like the Neo-Con NY Times, the Neo-Con Washington Post, Neo-Con TIME magazine, Murdoch's Fox "news," the Wall Street Journal, etc.  ARE ALL IN ON THE SCAM !!! 
 
    (Actually, HuffPost's headline does, sort of, try to paint a villain - "How COUNTRYWIDE Covered the Cracks" - notice how the Neo-Con HP editors repeat the Neo-Con New York Times' editors' STRENUOUS efforts to keep the words "FRAUD" and "deceit" OUT of their attention grabbing headlines.)  
   Yes, the simple fact is, like other NEO-CON outlets, the Huffington Post is AS GENOCIDAL, AS larcenous, AS warmongering, AS police-state-dictatorship supporting, and American-economy-gutting  as THE MOST Right-Wing blowhards, from Glenn Beck to Rush Limbaugh to Michael Weiner ("Savage") to John McCain to... JOE LIEBERMAN and the whole Jewish war lobby.
   THE WORSE the Neo-Cons MAKE THINGS for the Democratic Party, the MORE they EMPOWER the Goddamn-Sachs economy killing larcenists and Likudnik/PNAC/Neo-Con warmongers!
   And Pelosi and Obama have, over the past 2+ years,    HELPED the GS/PNAC/Neo-Con Likud crew STEAL TWENTY+ TRILLION DOLLARS from American taxpayers,   whatever bump in the stock market Obama has been gloating over  for the past few weeks is PURE INFLATION,  Bernanke & Geithner's  "QUANTITATIVE EASING" is pumping BILLIONS  (upon $1.5 trillion?) of  FIAT, made-out-of-thin-air-dollars  into "the economy" - which is to say, into the pocket of the Big Boy banksters, who have to park their stolen loot SOMEWHERE, and what is left after they buy up gold, silver, precious metals, commodities, oil, and food production, and other "real"  assets, goes right to those newly inflated Wall Street stock prices that Obama is crowing about - he let Geithner and Bernake INDEBT the American people for ANOTHER  $1.5 TRILLION  "Quantitative Easing" dollars,  to get a 100-200 point bump in the Dow (if that)!  

  ALL  Summers, Geithner, Bernanke, Dimon, Blankfein, Rubin, and other Wall Street bank titans have to do, IS DREAM UP  some new financial-speak term to TRANSFER HUNDREDS of BILLIONS of dollars FROM American taxpayers TO the Big Banks - and Barack Obama, Hillary Clinton, Nancy Pelosi, John Kerry, Chris Dodd, and other "Democrat" "leaders" ROLL OVER in their rush to OBLIGATE  taxpayers TO THOSE new DEBT billions, in exchange for a few lousy chump-change millions in LEGALIZED BRIBES "campaign contribution donations" !!! 

   Meanwhile, over at FireDogLake.com - (ANOTHER "Liberal" web site with a NEO-CON "no names shall be named" bias against reporting on the very obvious CONNECTIONS between Rubin, Summers, Emanuel, Geithner, Bernanke, Greenspan, Paulson &  titanic financial crimes)  they do sort-of connect-the-dots: Obama ostensibly wants young voters to support his Democratic midterm senate and Congressional candidates, but besides invoking the bogeyman of "REPUBLICANS WILL BE WORSE!"  Obama REALLY CAN NOT  defend his record!
  Obama Insults Youth Voters, Calls Election Time “Silly Season”

 Finally, over at MaxKeiser.com, Max's latest show on PressTV.ir  episode 74 (as opposed to Max's most recent episode 84 on RT tv)  Max interviews  David DeGraw, who pulls NO punches in his depictions of the CRIMINAL CONSPIRACY that is running the United States government, that IS  U.S. government economic & financial "leadership" (segment 2 of 3) -

   Tim Geithner isn't merely an "Economic Hit Man" - he is THE HEAD ECONOMIC DEATH SQUAD LEADER of the past decade, and after DESTROYING the economies of Indonesia, Thailand, other Asian countries, Argentina (all the while taking notes from his career sponsors Rubin & Summers destruction of the Russian post-Communist economy)  - Geithner, Summers, Rubin & co. have set their sights on knocking America, NOT  merely back to "3rd world status" - but CLEAR BACK TO THE DARK AGES, when feudal lords could MASSACRE the peasants with impunity.   

Max: All right, economic imperialism vs financial terrorism. 
 The thesis that you have on this is that it was an ENGINEERED ATTACK on the US financial system.


David Degraw:  Look, the truth of the matter is these people ARE Financial TERRORISTS. That might be too harsh terms but then let's use economic imperialism  - this is a very well worn strategy
 Look at Tim Geithner, he's the perfect example.  Tim Geithner  when he was in the US Treasury,  
   he went and, you know, the Asian crisis (plural), Indonesia, Thailand, ALL those Asian countries that went down the tubes in the 90's was a result of TG acting in the US treasury to TURN OVER these countries.  he was really the preeminent ECONOMIC  DEATH SQUAD LEADER and really he did so well he got a prestigious fellowship from the CFR  as a reward, and then after that
 he moved  to the IMF, where he TURNED OVER Argentina.  I mean, Tim Geithner was ALL OVER the DESTRUCTION of Argentina.

  After he completed that, then he moved to the US fed, and the rest is history, with the bailouts and all that.

   Look at the Commodities Future Modernization Act of 2000, and they can LOOT the economy, they LOOT national treasuries, and once you have massive DEBT the IMF moves in....  

  =============================================
 bonus: KeiserReport #86 on RT tv  interview with Eric Jantzen on the "POST CATASTROPHE ECONOMY"   http://www.youtube.com/watch?v=sPz5hScPYrs  - discussing, what else, more of the LOOTED, GUTTED, ARSONED, & ENSLAVED American economy... thanks to the "friends" that Idiot Obama put in charge of the Treasury, Fed, and nation's economic policy over the past 2 years.
 
http://www.youtube.com/watch?v=sPz5hScPYrs

MORE Evidence that Barack Obama is an Economic & Financial IDIOT: "The Ivy League boys" are plotting to STEAL America's GOLD RESERVES, by "selling" gold bullion to connected Big Money INSIDERS. Can you say "MORE PRIVATIZATION of America's wealth" by RIGHT-WING RETNHUGLICAN President Barack Obama??

BARACK OBAMA is running a CRIMINAL FRAUD PROTECTION RACKET for his Goddamn-Sachs + JPM, Citi, Wall St. & etc. bankster friends who BRIBE him with "campaign donations,"
      ...he is ACTIVELY DEFRAUDING American taxpayers by GIVING the big banks BILLIONS of taxpayer dollars for their MASSIVELY FRAUDULENT mortgage and financial papers,  as he and his White House Staffers and government officials  relentlessly OBSTRUCT JUSTICE, much less give a detailed  accounting of the titanic "bailouts" larceny to America's besieged taxpayers.

ZeroHedge.com has the dirty details:  a "BRILLIANT" Harvard, Yale, or Princeton economist can advocate the SELLING of U.S. gold bullion "reserves," making the very notion of "reserves" FARCICAL, and, what-do-you know,  putting BILLIONS upon billions of dollars of TAXPAYER OWNED assets that are soaring in value... into  the hands of privileged, entitled, and connected "investors" - who get the INSIDE DEAL on OUR nation's gold. 
   And this SHEER LARCENY of an "economic policy" WILL BE TAKEN SERIOUSLY by Barack Obama's  "Goddamn-Sachs Insider Corruption & Obstruction-of-Justice R Us" White House! 

ZeroHedge: Yale Ph.D., And Former Fed Member Tells Obama To Pull A “Gordon Brown” And Sell All Of America’s Gold 
   by Tyler Durden on 10/12/2010
   Edwin Truman, a senior fellow in the Peterson Institute, who is of course a former Fed member, and of course a Yale Ph.D., writes in the FT, suggesting the brilliant idea that it is high time for the US to sell its gold. In other words do precisely what  [former Britain Prime Minister] Gordon Brown did a few [years, and a few]  thousand percent ago, and now has to defend against allegations he did so merely to protect the LBMA cartel which was on the verge of being margin called into oblivion. And even if one ignores the fact for a minute that there has not "really" been an audit of the US gold holdings in who knows how long, who is to say that Goldman, of all people, may not be right and gold will be at $1,700 in a year? (cont'd)  

  "Tyler's" exasperation - that the INSANELY CORRUPT Barack Obama White House and Nancy Pelosi Congress would TOLERATE the THEFT of America's gold, for PRIVATE CONSUMPTION ("ownership") by CONNECTED INSIDERS,   is echoed in a seemingly unrelated matter by  Christopher Whalen at BusinessInsider.com.  Whalen forcefully argues that Bernanke & Greenspan's  ZERO interest rate policy is DESTROYING AMERICA -  is TRANSFERING BILLIONS upon trillions of dollars FROM savers, TO connected insiders  who have access to that effectively ZERO Fed "money creation" interest rate money.  
    GOLD   is the measure of how much Ben Bernanke - AND BARACK OBAMA - are DEVALUING the U.S. dollar - so  "selling" America's gold stocks to private "investors" AS  Bernanke, Obama, Geithner, & co. continue to PRINT BILLIONS of  fait dollars, ensuring that gold will rise in value in the future,  is akin to George W. Bush's RIGHT-WING REPUBLICAN presidency selling  huge oil & mineral leases on public lands to private, connected, insider mining cartels  in rigged auctions at HUGE DISCOUNTS from the real value of those resource assets. 

    But our take on Barack Obama's  INSANE CORRUPTION and OBSTRUCTION OF JUSTICE  presidency tonight is just getting started:  as the ZeroHedge article alluded,  NO ONE KNOWS how much  gold the U.S. Treasury and Fort Knox hold - because, frankly, the government of presidents Bush, Clinton, and Obama have been selling (stealing from the public)  America's gold to their insider pals for decades now.   As Dylan Ratigan explained on his show tonight:

 "...know one knows how crooked the financial system is - that's why they have been PRINTING MONEY to COVER IT UP for the past few years.  And that's what's going on right now with OUR HOUSING MARKET in particular .... that's why we all need to demand an investigation, to open the books at Fannie, Freddie, and the FEDERAL RESERVE, and find out how many BAD LOANS, fraudulent loans, were made by banks, and sold to the government, paid for with your money, hidden by the government, and the fees for those loans CONTINUE to BE COLLECTED by the very banks that pay off the politicians."

   Harvard Law Professor Katherine Porter spent her entire segment on following Dylan's above DR show intro  basically saying that it would be IMPOSSIBLE for the United States government to investigate, unwind, and prosecute FRAUD in those tens of thousands of Loan documents that the Banksters SOLD TO Fannie, Freddie, and other government agencies!    Indeed, she started her comments with an even more outrageous, blatant bit of DISINFORMATION,  saying "It would really require a level of investigation that we've never seen before,  it would really be unprecedented to go THAT DEEPLY INTO THE BOOKS" - entirely forgetting that the United States did exactly that just over a decade ago,  William Black and other prosecutors sending ONE THOUSAND fraudulent financial officers to prison in the mid 1990s while unwinding the Reagan + Bush-I era Savings & Loan debacle -  Ms. Porter seems to be ENTIRELY IGNORANT of  William Black, former Director of he Financial Industries Reform, Recovery, & ENFORCEMENT Act (FIRREA, 1989), or the many prominent financial officials who went to prison in the mid 1990s, including CHARLES KEATING,   MICHAEL MILIKEN, and  CenTrust's David Paul - all the above which we we able to pull up in less than five minutes, putting us, apparently, light years ahead of a so-called HARVARD 'LAW' PROFESSOR!

Harvard Law visiting professor - AND FRAUD APOLOGIST  Katherine Porter:
"It would really require a level of investigation that we've never seen before,  it would really be unprecedented to go THAT DEEPLY INTO THE BOOKS, it would be quite hard at this point, because many of these fraudulent... many of these loans that are in foreclosure, go back, were made four, five, six, seven year ago, and as we know, the banks and services did a poor job hanging on to the paperwork, did a poor job  documenting these loans in the first instance,  so doing the autopsy to figure out just went wrong, and who is at fault would be challenging... THERE is  NO REMEDY FOR THE TAXPAYER other than the [future] political process...."  [as she rattles of a list of ENTIRELY INCOMPETENT governemnt agencies UNABLE to remedy taxpayers or defrauded homeowners!]

 Dylan responds:  

"Considering  the amount of money the bankers are paying themselves  for this SLOPPY WORK,  considering the lack of lending and investment in this country, considering the size of the deficit this country currently has carrying this load, $1.6 TRILLION dollars, professor, and we don't know how much of that is garbage, and the barrier to doing that is 'that it is HARD'?"

Prof. Porter:  "Well, it may not be just that IT'S HARD, Dylan, it may be that it DOESN'T MAKE a LEGAL DIFFERENCE"

     A HARVARD UNIVERSITY PROFESSOR, is making the argument, that THE UNITED STATES GOVERNMENT, is ENTIRELY INCAPABLE of assessing HOW MUCH IT WAS DEFRAUDED in buying BAD and OUTRIGHT FRAUDULENT LOANS from some bankers...  and even if the government could figure out that it had been sold FRAUDULENT loans,  there is NO criminal remedy the ENTIRE  United States "justice" system could find  to remedy the American taxapyer losses??!!! 

  For his part, WASHINGTON POST  "financial reporter"   Zachary Goldfarb was hardly any better, he basically apologized for  TITANIC FRAUD in America's home mortgage and finance industries, by saying that   the banks are very powerful players, and they can influence politicians legally, merely by withholding or advancing loans  for other projects in a Congressman or Senator's constituency! 

   THE WASHINGTON POST,  HARVARD LAW SCHOOL, and the OBAMA administration, are all APOLOGISTS FOR titanic FRAUD in America's critical financial markets! 
   And it's certainly not just  visiting Professor Porter - HARVARD UNIVERSITY has been PARTY TO ALL this TITANIC FRAUD in America's finanical markets,  Harvard University PRESIDENT  Larry Summers is  STILL, as we speak,  INSTRUCTING President Obama on how to CONTINUE TO HIDE all the massive fraud his friends on Wall Street have pushed on the American people! 

Dylan:  "And the beautiful thing about the way this country is set up that we theoretically call a democracy,   We've got a central government that is controlled by the banking industry, that is paying itself hundreds of  billions of dollars to administrate this system, while foreclosing on homes that THEY MAY NOT OWN THE NOTE TO, and there is absolutely NO LEGAL RECOURSE whatsoever  FOR THE TAXPAYER, is that a basic summary understanding of the current situation, Katherine Porter?

  Prof Porter responds:  "THERE is NO REMEDY HERE for the taxpayer,  other than the kind of political process... Porter rattles off MORE USELESS government  oversight Committees -  for TARP, for consumer protection, etc.]  ...Short of those kind of political and regulatory things,  there is NOTHING THAT WE CAN DO."

 Well, folks, you just heard it from the mouth of a Harvard University "law" professor: the ENTIRE United States government is POWERFLESS to identify, much less prosecute, TITANIC FRAUD in America's critical financial markets!@    The thieves and liars at Harvard should just hand out "acid" tabs (LSD) for the American public, instead of  all the insane Neo-Con tripe they are spewing out over America.