Mr. Jim Cramer of the popular investment television program called Mad Money, on CNBC, is just a tool for the corporate elite: those 10% of all the income earners who now earn 50% of all the nation’s income.
If you want to make a statement and shake up Wall Street, then sell all your equities soon. I suggest that date be around October 23, 2009. Wall Street has demonstrated that it can push the DOW up without any real recovery.
What we continuously hear is how homes are selling slightly up, but when compared from a year ago, it remains negative. We hear how consumer buying is slightly up, but when compared to a year ago, it still is way down and remains in negative territory. With savings significantly up, how can the consumer, who is strapped for expendable cash, be spending? If it isn’t a Cash-For-Something-government program, then there is no real spending.
Look at the facts. Credit card default is increasing, as is commercial real estate defaults. So, where is the recovery?
Without the real economy recovering, there is no spending. Without wages increasing, and people going back to work, then there is no real recovery, but only a hyped one by the likes of such people as Ben Bernanke and the money mad hatters. President Obama continues to hide the real facts.
If you want to send a powerful message to Wall Street, President Obama, Ben Bernanke and TimmieG Geithner that the other 90% of the wage earners will not support the economic crime syndicate and the top 10% damaging the real economy at the expensive of everyone else, then pull your money out of equities and bonds and put it into money markets or cash. Force our officials to tell the truth and pass legislation that helps the Real Economy and not just the Investment-Corporate Elite Economy.
Even if it were for a month or two, the message would be sent. The Market would drop 1000 or 2000 points in a matter of hours and days. The message would be that unless there was fairness, as well as market regulation and controls, the real people would not play. Also, if the Justice department continues to seriously resist a grand jury investigation that would delve deeply into the economic financial investment banking crime syndicate, then the Real People will not play. We need to know why the economy went south, who were those that were responsible, what criminal activity led up to it and ran through it, and why it was allowed to occur in the first place, to just list a few basic questions.
Ben Bernanke appears to have committed fraud when threatening Congress to hand over $700 billion in the form of TARP or else the economy would collapse. It appears that the threat was erroneous. He said that unless the billions were given up, the commercial paper market would freeze and businesses would come to a halt. The threat made it look like business would not be able to function unless TARP (Toxic/Troubled Asset Relief Program) was put into place. Yet, the next day, Bernanke opened up a commercial paper facility, whereby he was open for business buying commercial paper. Bernanke had the authority to do this without Congress’ cash. This looks like fraud, as well as extortion.
And, former Treasury Secretary Hank Paulson, another field marshall for the financial crime syndicate bosses told Congress that if they did not issue TARP, Marshall Law would likely have to be put into place. He threatened that if a bailout was not passed, then the economy would collapse, there would be panic in the streets, a run on the banks, and Marshall Law instituted by the likes of LittleBoy Bush. This sounds like blackmail!
The investment banks were thrilled! They got their bonuses and Goldman Sachs, along with AIG got billions to bailout their counterparty colluders.
By keeping your money in equities, bonds, and mutual funds, instead of shifting over into cash or money market funds, then you are supporting this theft and fraud.
President Obama has shown his complete support for Bernanke, the Fed Field Marshall for the financial crime syndicate. TimmieG Geithner allowed these investment banks, such as Goldman Sachs, and Bank of America, as well as the others located in New York to go unregulated when he was the chairman of the New York Federal Reserve Bank. This is their game, which is to keep them flowing with cash, while looking the other way, and lending them U.S dollars at zero percent interest. Now, the FDIC is considering asking these investment banks to loan it money, since it is almost broke. This is like asking bank robbers for a loan. Oh, isn’t that exactly how the Mob operates?
It is not all that painful. You have had worse!! Just sell and put your holdings into cash. Keep it there for a month or two, and then buy again, if you wish, at new lower prices. The message will be sent if the nation does this. Change would occur because the FatCats would not know when the Real people would pull this stunt again.
This is the change WE can make happen!!! We cannot wait any longer.
Thanks for reading, jerry
7 comments:
Jerry, from Business Week, and ya can't make this bovine excrement up my friend.
Banks Are Forcing Homeowners to Keep Paying After Short Sales
Posted by: Chris Palmeri on September 21
http://www.businessweek.com/the_thread/hotproperty/archives/2009/09/banks_are_forci.html
Jerry, I have a consolation for you regarding selling stocks, bonds ect. because when this is over people will be using said items for butt ribbon paper much as we saw in "Germany during the happy years"...sarcasm..., but first we will go through a bone crushing deflation as credit both commercial and personal continues to collapse being barely held up by a govt. quickly running out of options. We are entering the Fourth Turning.
Protectionism will reign, but much too late I'm afraid, and trade wars and currency manipulation on a scale never before seen will commence leading to war which will establish some new glorious order when peace returns, and damned near everything has been destroyed, so that those left will have job security and prosperity until we F**K IT UP once again which usually spans 80 short years.
Now do you want the bad news? :>)!!
Jerry,
Good post, good idea, I wish I had some stock to sell. Here we have much the same problem, it's called NAMA (National Asset Management Agency), basically it's a massive bail out of banks and property developers.
I'm busy on the streets campaigning against NAMA and the Lisbon Treaty referendum we have coming up, another sop from our useless government to big business.
Keep it up,
Rory
SPECTRE,
I think your timeline for the eventual hyperinflation could be about right! Deflation will continue for a few years, and then, inflation will begin to creep in. Those caught with stocks, bonds and mutual funds will get creamed. I would even be afraid to keep cash in banks, since many will go under and FDIC won't have enough to cash to protect the depositors. The government will have to print the stuff and that will lead to hyperinflation.
It will be my guess that the Fed will be eventually taken over and made a government agency accountable to oversight and supervision by Congress.
I surely hope that war will not be the answer to the currency problems. The military industrial complex and sectors eat up so much real economy capital not only for the US but everywhere. Let us hope that a peaceful consensus on currencies, trade and the rest could be made by all countries.
I do believe that trading of food, and energy might be a problem, but not much else will be crossing national borders, since average citizens will not have money to buy anything but essentials.
Now, I have heard of this garbage of banks forcing mortgage holders to continue to pay, but I would tell that person to let them come after me! I would see them in court!
Rory,
Thanks for the assessment on equity selling. I believe that is the only way to get control back. It takes no street protesting, but an armchair action.
Maybe you could bring it up in your blog. Let us put the idea out there!
jerry
Jerry, I'm with you 100% on telling them to come after me. You can't draw blood from a turnip no matter how hard you squeeze. This article may offer some real hope for people that were treated like sheep by the very predatory lenders:
LANDMARK DECISION PROMISES MASSIVE RELIEF FOR HOMEOWNERS AND TROUBLE FOR BANKS
http://www.webofdebt.com/articles/mers.php
Here's praying that this decision hits the bankers and thieves right between the eyes with a sledge hammer! Every bank had a fiduciary duty regarding lending to those who could not afford the homes they bought in the first place. Securitization made this all possible because the banks sold all the butt ribbon paper to the world. The bad news is that the FED seems to be buying the bullshit back in exchange for Treasuries which now puts all of us on the damn hook for their thieving. No way is the paper worth anything close to what the FED shows on it's balance sheet. Man are we screwed!!
The banks, much like Depression 1, will take advantage of people losng everything during the deflation phase by buying real hard assets for pennies on the dollar to be followed by a terrible inflation that will make said banks a fortune off the backs of working people. The question becomes, how long are we willing to be raped and pillaged by by all the evil bastards before we say enough?
Your message would be MUCH stronger is you were advocating selling off and buying GOLD. The banksters hate gold. We could send a stronger message and take down Wall Street if we all just bought some gold.
PS: I think that if Paulson didn't get what he wanted, they would have collapsed the system, canceled the presidential election, kept Bush in office, and implemented martial law.
Hi Anonymous,
Thanks for checking out the video. I am working on a script for the next one and will include holding alternatives to cash, such as gold. Paulson did threaten the fact that the sky would fall if he did not get what he wanted and Martial Law might need to be played out.
jerry
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