The Swine Flu Began With Goldman Sachs And Has Infected The Entire Nation

The Royal Scam occurring at Treasury cannot help to draw up anger within the average American, if they are paying attention. Most are not paying attention. We have now been privy to the fact that the CEO and Chairman of JPMorgan, Jamie Dixon, is a psychopathetic conartist. He has decided to blame everyone and everything for the economic collapse but the actual real reason for the meltdown of the economy has to do with banksta greed by keeping mortgage rates dirt cheap, worker’s wages stagnant or near stagnant, keeping lending rates low, and encouraging borrowing for whatever the heart desires with teaser financial bank credit card rates, zero percent transfer rates, low home equity loan rates, no regulator rules, paying off the SEC to look the other way regarding securities violations, and installing banksters into the Treasury’s money supply system.
Mr. Dixon felt it was his duty to blame the war in Iraq, an enormous U.S. trade deficit, greedy individuals seeking higher profits, short selling, high energy prices, irrational pressures on corporations, money managers, and hedge fundies seeking more profits. He did admit that depressed interest rates was a factor in the creation of the housing bubble, yet he did not take one grain of responsibility for being a part of it. Very psychopathetic.

This week the largest financial banks published their earnings data. What we heard from the television Bobbleheads that blow out their optimistic steamy vapors clouding the truth, which they called information, was “Oh boy, look at Citi’s, as well as the other’s bank earnings. Better than expected!” Geewow!! Their better than expected earnings were based on “no-expectation” earnings projections, so anything better than flat was good. But remember, they received taxpayer dollars to improve their balance sheets, so the taxpayers pumped up these delusional earnings statistics.

At the same time, TimmyG unveiled some of the information regarding his stress testing circus act. His procedure is to reveal if the banks can hold up under irregular economic pressures and if they need taxpayer cash to stay alive. Instead of telling the zombie banks that they have a certain amount of time to find their own capital sources before being taken over by the FDIC, Geithner stated that any bank that showed a weak stress test will be pumped up with more cash by him-by us; no big deal? It is time to stuff the pig. Does this bring on the Pandemic Infection? Darn! The Pandemic Infection actually originated in the United States by the diseased banking industry. Their version of Swine Flu spread quickly throughout the world. The infection seems unstoppable. The richest Americans have gotten some of the financial serum to prevent their own widespread infection.
So, what does this do for the working American? NOTHING! This is not about people but the bankster economic ruling class. Goldman Sachs appears to be the master-thief and oligarch running the Treasury and the Federal Reserve. Goldman Sachs has installed their own people into the control of our monetary system. Hank Paulson was Bush’s Treasury Secretary and principal designer behind the financial extortion plan that forced Congress to authorize Treasury to hand over $700B in TARP cash to the masterminds running the Wall Street mega-banks. Congress was told by Paulson and Bush, as well as by a panicking John McCain after he had suspended his presidential bid, that the economic sky was falling upon the head of Chicken Little!! Without TARP funds the nation would fall into a depression. Goldman Sachs’ Neel Kashkari was asked to head the TARP (Troubled Assets Relief Program). Goldman Sachs’ Jon Corzine, governor of New Jersey rushed into to offer support. Goldman Sachs kept Robert Rubin on the payroll for 26 years before he was installed into the Clinton administration in order to begin the deregulation process, which was signed into law by the BoyBush. Robert Zoellick is Goldman Sachs’ presidential mole in the World Bank, and served in the neo-con administration of DaddyBush. Now we have Larry Summers, Obama’s senior economic advisor as he heads the National Economic Council. Also, we have Tim Geithner who did not work at Goldman Sachs but was trained by their propaganda school headmaster by Rubin and Summers. Goldman Sachs trained John Thain well enough to be CEO of Merrill Lynch before a discounted purchase was arranged by Paulson to Bank of America. Then Goldman Sachs trained Robert Steel who heads Wachovia Bank. This defines Goldman Sachs and their deeply seated control of the United States of America’s financial system.

Since 1986, our financial sector grew from a modest 19% of corporate profits, to a current level of 41% of corporate profits. This has been a strong incentive for Goldman Sachs and the others to make sure Treasury and the Federal Reserve act on their behalf at every turn. Remember, Hank-the Paulie-Paulson made $38 million his last year as CEO as the leader of the oligarchy financial bank—Goldman Sachs. According to Paul Farrell, “Jack Bauer Can’t Stop The ‘Goldman Conspiracy’” he wrote, “Then during the market meltdown six months ago the $700 million personal fortune he [Paulson] built at Goldman was threatened by Goldman’s huge $20 billion derivatives exposure at AIG. Suddenly, his responsibilities at Treasury merged with a strong self-interest in protecting his personal fortune. AIG was saved.” He went on to say…John Whitehead, former Goldman Sachs chairman, former chairman of the New York Fed, former Reagan deputy Secretary of State, warned America’s problems will take years, burn trillions, result in massive deficits, which is a “road to disaster”. Mr. Whitehead then said in Farrell’s piece, “I’ve always been a positive person and optimistic, but I don’t see a solution here.” Farrell concluded with, “He [Whitehead] did see a depression at the end of the road, once you can call “Depression 2.”

How has any of this helped the real economy and the 300-plus million Americans? It isn’t helping. But, it is making life worse for everyone, but those at the top of the economic tier. Michael Whitney wrote in his piece called “Housing Bust Comes Roaring Back, Worse Than Ever”, “that more than 2.1 million homes will be lost this year because borrowers can’t meet their loan payments, up from about 1.7 million in 2008.” In his piece, Rick Sharga V.P. of RealtyTrac, said “We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market.” If the banks decide to put those properties on the market all at once, there would be further depreciation and carnage in the housing market. Mr. Whitney said, “One thing is certain, 600,000 “disappeared” homes means that housing prices have a lot farther to fall and that an even larger segment of the banking system is insolvent.” The article went on to say, “Ten’s of thousands of foreclosures are only 1-5 months away from hitting that and will take foreclosure counts back to all-time highs. This will flood an already beaten-bloody real estate market with even more supply just in time for the Spring/Summer home selling season.” Whitney quoted Ruth Simon, “The Housing Crisis Is About to Take Center Stage Once Again, WSJ”. She said in his piece, “Another 20% carved off the aggregate value of US housing means another $4 trillion loss to homeowners. That means smaller retirement savings, less discretionary spending, and lower living standards. The next leg down in housing will be excruciating; every sector will feel pain. Obama’s $75 billion mortgage rescue plan is a mere pittance; it won’t reduce the principle on mortgages and it won’t stop the bleeding….The housing market is going under and it’s going to drag a good part of the broader economy along with it. Stocks, too.” These assessments sure don’t make the housing future look promising, nor does it make the economy appear to be stabilizing anytime soon.

“So far, the meltdown has wiped out more than $11 trillion of household wealth, ignited soaring unemployment, and pushed millions of people from their homes.” Whitney included Newsweek, “Don’t Buy The Chirpy Forecasts”, “If the United States follows the norm of recent crises, as it has until now, output may take four years to return to its pre-crisis level. Unemployment will continue to rise for three more years, reaching 11-12% in 2011.”

What we now hear is General Motors will layoff more workers and idle around 19 plants. That means their total goal of 47,000 layoffs will likely be realized. For every one autoworker layoff, a ripple effect of a loss of 10 other jobs is felt. With idle plants throughout the summer, and massive layoffs, small business closures, bankruptcies, business downsizing affecting the economy, the summer will be painful for many families. This will affect the tourism and entertainment industries. A deeper recession will likely be realized.

Congress and President Obama are all up in arms over the rip-off by credit card companies as they gouge the card users with higher fees, and interest rates. What is upsetting is that any reforms and pressures placed upon these financial corporate thieves will take over a year to be implemented, yet Team Obama and Congress sure acted fast to stuff the pockets of the largest financial American banking cartel operators. It only took days for hundreds of billions of dollars to hit their balance sheets. Wow!!! They sure act fast to serve the financial needs of the banking predators, but they move at a snails pace to help working America, who are the only ones that can improve the economic conditions.

Can they be that stupid and inept to not understand that unless working Americans psychologically feel that their economic livelihoods are stable, their retirement is back on track, their children have an opportunity to be financial independent, and their jobs are once again stable, there will be no economic recovery? I don’t believe they are either stupid or inept. Our top level government officials have chosen to serve those corporate kleptocrats, those bankstas, those corporate insurgents who are controlling and manipulating those operating inside the government that control the money.

It is clear that the Treasury will be finding fewer tax dollars coming in because working Americans have much less to be taxed on. This same problem will trickle down to state and local tax collectors. Revenues will be down and all taxing bodies will be having to tighten up their declining budgets, which means more layoff, or Pink Slips, leading to more unemployed and less tax revenues, less spending, more shop closures, leading to empty shopping malls and strips, and commercial foreclosures and bankruptcies, while Obama allows his Economic Team to serve the master crime syndicate leader—Goldman Sachs and sidekick Citigroup.

The only way Team Obama will bring about “Change That We Can Believe In” is if hundreds of thousands of protesters decided to ‘March On Washington’ demanding that this economic recovery start at the bottom and work its way up, instead of the other way around.

thanks for reading, jerry

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The Hank Paulson Failure

I cannot say this is a conspiracy, but it reads like one. The long term plan appears to have been to kill American labor in favor of a new, more esoteric economy called finance. Finance,the rich man's clean way to make money, without getting one's hands dirty or putting up a cent of one's own cash, was put onto the racetrack by Alan Greenspan after Ronald Reagan gave it his head nod.

Greenspan's plan was to create unfettered free trade, and an unregulated world-wide free market full of leveraged derivative sales. He and his investment banker clones were giddy knowing that they could create huge piles of wealth just by taking debt, without ever having to hold a fraction of real capital. "Leverage me out!" "How far can we magnify a single dollar using these debt instruments", said Humpty Dumpty's investment banker?

Now, here we are with a Congressional $700 billion bail-out, with $150 billion in John McCain-Make-Mine- Tenderloin! Pork. I thought he hated pork? In that bill, the little guy and gal will have their life savings bank deposits FDIC insured. Doesn't that give you piece-of-mind?, until you find out you might have to wait 10 years to get your insurance check! Yes, the FDIC can take 10 years to settle your claim. Just how long can you wait? It might be better off under your mattress. At least, you can get at it when you need it. 

Can we trust the very people who created this financial meltdown to also oversee the implementation of the Paulson bail-out? That is what is happening. Paulson has assigned his pal from Goldman Sachs, Neel Kashkari (or is it cash n' carry) as his point-man to manage the flow of authorized congressional bail-out dollars as the financial institutions line up for their share. Also, another one of Paulson's thieves, Lloyd Blankfein, chairman of Goldman Sachs, was present at, what can be now called the International Treasury Heist Planning Meeting, which took place at the New York Federal Reserve Bank where a strategy conference on the implications of an AIG failure was laid out for the Bush Crime Family and their Bosses to "understand".

I love it when McCain says to Obama, "You just don't understand." That is correct, John Boy. He doesn't understand because Obama is not part of the Bush Crime Family like you are! It is a segregated club; don't you know? Only Republicons are let in. They're the only ones stupid enough to drink the Jim Jones Kool-Aid over and over again. Yet, brain-dead bobble-heads like McCain and the Gangstas are the only fools who would listen to a guy with an approval rating of 25% and falling. 

 

If AIG went bankrupt, Goldman Sachs would likely lose $20 billion. "We can't have that; 

can we, Paulie?", said "da Family" to Hank Paulson. This is why Paulson needs to be summoned to talk in front of a Grand Jury regarding his actions and his conflict-of-interests.

Paulson is roller skating on ice. Not just any ice, but thin ice, at best. He just cannot seem to get anywhere with any skill or accuracy. He gets the bail-out of $700 billion that he wanted so the world's central banks, especially China, which holds $400 billion in toxic derivative debt, can dump it on the U.S. taxpayer in exchange for freshly color laser printed dollars, in order to get re-capitalized. But on Tuesday, he switched gears and began to bail-out the Commercial Paper debt market so very short term commercial borrowing could continue. Just tell me who will borrow? Bush-brain tells us that auto dealers need to borrow to put new cars on their lots. Who is brave enough to buy a new car right now, unless they have enough expendable cash to part with? I guess, paying down one's house debt is not always a personal priority. Adding a new car loan takes precedence. This seems to be a time to reduce one's debt burden. Not increase it. Our president went on to tell us we need more McDonald's restaurants and they need some bail-out cash to build them. HUH? Did he mean that there aren't enough of them already during what appears to be an economic downturn? Rollin', rollin', rollin', that cash stream ain't but swollen, keep those bucks a movin', Rawhide.

Paulie, there is only $700 billion in your piggy bank. So, focus! Has he captured the golden egg laying goose yet?

Paul Craig Roberts (Counterpunch.org; "Can a Bailout Succeed") asked how does he stretch out $700 billion to cover $2.3 trillion in mortgage-backed securities held by "20 of the nation's largest financial institutions?" How will "the Paulie" do it? Mr. Roberts went on to state that the $2.3 trillion does not even include mortgages that were transformed into more complex derivatives, such as collateralized debt obligations, and then into, and more than likely, credit default swaps. WOW! That would be quite the clown trick. "Watch me pull a few trillion out of my hat. Presto!"

The stock market cannot seem to get any legs to hop and remain into positive territory without the Plunge Protection Team pitching money into the market, in spite of an investment bank and commercial paper debt bail-out. Why? Don't they trust the Goldman Sachs bagman? The sky IS falling Chicken Little and the world markets are getting hailed on.

Mike Whitney (Counterpunch.org; "Still on the Edge of the Abyss"; 10-6-08) quoted Henry Liu in his article "Liquidity Boom and Looming Crisis", in the Asia Times, "Unlike real physical assets, virtual financial mirages that arise out of thin air can evaporate again into thin air without warning. As inflation picks up, the liquidity boom and asset inflation will draw to a close, leaving a hollowed economy devoid of substance...A global financial crisis is inevitable." 

Main Street translates that into " The ride, it ain't over. We're on the way down, so hold onto your hat, Joe!"

Thanks for reading, Jerry