Submitted by Terence Blackett
“All that is necessary for evil to triumph is for good men to do nothing.” – Edmund Burke
Greece is on the verge of a calamity – with a cure worst than the disease; Italy’s financiers have issued a death knell about it debt levels; Portugal continues to teeter-totter on the precipice of a Greek-style implosion; Spain is destined to move from a “siesta” environment to outright social bedlam; France continues to contract with its economy froth with massive future job losses, possible riots and social anarchy not seen since the French Revolution; Britain is also in throes of a winter of discontent with mass labor strikes and social unrest as more and more jobs move off-shore – coupled with social and structural imbalances which could incinerate the fragile, fragmented fabric of British life. And all this is only a fraction of the EU’s woes.
The other irony is that the ripple effect and the contagion in this part of the world will have even more seismic repercussions beyond the Stock Market Crash of 2008. If the Euro implodes, (and many commentators believe it will) – the fallout will make the Wall Street debacle of 2008 pale into insignificance setting in motion a global crisis of apocalyptic proportions. What we could witness in our lifetime is unparallel poverty, biting hardship and evaporated life chances unseen on such a scale in recorded history.
The question many are still asking – how did we get to this point? Was this engineered? Why was nothing learnt from the Great Depression of the 1930’s? And out of the possible ashes – what will emerge?
Stuart Chase in his book published in 1929 entitled – “Prosperity: Fact or Myth” commented that “ For  ebullient years the curve went swinging upward, and ended with a dizzy nose dive in the panic of 1837… In the year 1906, the (US) Secretary of the Treasury was publicly praying that the country be delivered from more prosperity. That his prayers were in order was evidenced by the glorious crash in the following year – the profound business depression of 1907…”
From the historical evidence, nothing was learned from any of these dangerous market situations and in the book – The Causes of the 1929 Stock Market Crash: A Speculative Orgy or a New Era? Author Harold Bierman Jr. on p.29 argues that “During 1929 the public was bombarded with statements of outrage regarding the speculative orgy taking place on the NYSE. If the media and respected people in authority say something often enough, a large % of the investing public is likely to believe it. By October 1929 the overall revealed opinion in the Federal government was that there was excessive speculation in stocks and the market was too high. Galbraith (1961), Kindleberger (1978), and Malkiel (1996) all clearly accept the assumption that the market was too high. The Federal Reserve Bulletin of February 1929 stated that the Federal Reserve would restrain the use of “credit facilities in aid of the growth of speculative credit.” Sadly, those were empty, hollow words!
The U.S. Senate adopted a resolution stating that the Senate would support legislation according to Bierman that was “necessary to correct the evil complained of and prevent illegitimate and harmful speculation.” The president of the Investment Bankers Association of America (Trowbridge Callaway) gave a talk in which he spoke of “the orgy of speculation which clouded the country’s vision.” Galbraith wrote in (1961, p. 16-19) about “The mass escape into make-believe, so much a part of the true speculative orgy, started in earnest.” So the culture at the top and the shenanigans of Wall Street speculators have not changed in spite of boom and bust cycles for either way, their bets are hedged.
Today, we are witnessing an insurrection on Wall Street as protestors gather to vent their frustration at a system hell-bent on similar economic destruction. Public sentiment has decided to grab the “proverbial” BULL* by the horns using the leverage of political capital, the moral gumption, and the censorial will to put a halt to the Wall Street/ London City speculators from running the world economy into the ground – with conspiratorial plots to siphon off even greater wealth for their hedge funds and investment bank coffers, while propping up a fractional Elite* whose sole aim is to control the world by mandated social dictat. These new breed of fiddlers on the penthouse roofs of Wall Street dictate economic and social policy in their own self-interest while governments are complicit in spinning a tangle web of lies and intrigue to appease and dumb-down the social masses into willing compliance.
The smash and grab tactics of these financial terrorists are supported by men like British PM David Cameron according to serious market commentators like Max Keiser who already know that we have entered the 2nd wave of an impending Great Depression 2, but these voices are drowned out in the chorus line of deniers, media pundits, shysters and egomaniacal psychopaths who have a platform to vent their spurious, specious, putrefying venom in print, visual and social media in an all out war for the minds of the people.
Webster Tarpley cited proof that a conspiracy was hatched on Feb. 8th 2010 with an “ideas dinner, held at the Manhattan townhouse of (HEDGE FUND) – Monness, Crespi, Hardt & Co, a boutique investment bank. Among those present were SAC Capital Advisors, David Einhorn of Greenlight Capital (a veteran of the fatal assault on Lehman Brothers in the late summer of 2008); Donald Morgan of Brigade Capital, and, most tellingly, Soros Fund Management.”
“The consensus that emerged that night over the filet mignon was that Greek government bonds were the weak flank of the Euro, and that once a Greek debt crisis had been detonated; all outcomes would be bad for the Euro. The assembled predators agreed that Greece was the first domino in Europe. Donald Morgan was adamant that the Greek contagion could soon infect all sovereign debt in the world, including national, state, municipal and all other forms of government debt. This would mean California, the UK, and the US itself, among many others. The details of this at dinner were revealed in the headline story of the Wall Street Journal on Friday, February 26, 2010.”
History reminds us that the month of October seems to be the month that brought us Market Crashes in 1929 and 1987 – single-day declines in the Dow that would be the equivalent to 1,400 and 2,500 points in today’s market. Then the Market Crash of October 2008 which changed our world. Some are now even predicting another Black October Crash in the making whether this year or next year. But the use of the word “BLACK” does not do justice to these man-made anomalies seeing that 95% of those who fiddle the gaming table of the Stock Market both in terms of Hedge Fund managers, bureaucratic staff and investors are predominately Caucasian American and Europeans.
Electronic money as well as cold, hard DRUG* cash – cleaned up and subsequently laundered as legit currency then flows back into the pocket of dubious speculators, evil drug lords and the high priests on Wall Street who then bank-roll wars and the toppling of governments that do not support their nefarious economic agendas. So these ongoing systematically engineered crises have long ago stopped being just a financial one – the connotations are now intrinsically a MORAL question.
The White man has shown categorically that for over 400 years of running the planet that his rule has been fundamentally flawed, intrinsically and diametrically opposed to true justice, equality and fairplay while building a Western capitalist model on the backs of and by the blood, sweat and tears of other human beings as a form of slavish industrialization, rank comodification, and a cesspit of commercialization and virulent “chattel labor”.
Governments are printing little of the money put into circulation – this is left to Luciferian Central banksters who flood the market with monopoly $$$ that most on Main Street do not even have access to. Instead it is mostly put into circulation by banks, as interest bearing DEBT*. They demand the money they create back, together with exorbitant interest rates. Banks therefore own a greater percentage of the property and money in circulation, and hence are getting a greater share of the world’s wealth and power.
All the bailout money earmarked in 2008 didn’t prevent the “real” economy from sliding into recession in 2009 through to 2011. Factories are still closing. Layoffs are rising. In the UK alone, unemployment numbers ebb towards 3 million. Spending is slowing. Investment capital is frozen. And the downturn that began in the U.S. in 2008 has spread to every other economy around the world. Even China had to downgrade its growth forecast. Now BAE the UK’s largest defense contractor is about to lay off some 3000 workers in a cost cutting exercise.
Meanwhile, business moguls, hedge fund bosses and investors though betting the bank and its furniture in a frenzied orgy of Russian roulette still want us to reward them with “Golden Parachutes” – some as much as $45 million in rewards as a means of holding on to the brightest and best in the marketplace. A pattern of lies, damn lies and monetary fiddling – yet nothing is done about it!
Blatantly, those are the same ones who got us in this mess in the first place. So again, no lessons were learnt from the Great Depression of the 1930’s. Speculative casino banking has taken on new dimensions with every day, $3 trillion passes through the trading desks and clearing operations of JPMorgan Chase (who bought the dwindled shares of bankrupt bank Washington Mutual), and that’s just one of thousands of U.S. banks which went into meltdown.
It’s not money in the sense most of us understand; it’s computer data. But it’s good enough for the world governments, major corporations, fund managers and others who need banks to move their money around and park it wherever they think it best belongs.
So we are happy to have politicians lie to us while the news media refuses to ask the hard questions and insist on the hard data. Liz Moyer of Forbes Magazine says that “Money is becoming much more of a concept than a physical entity.” Richard Hole also argues that “Banks create money out of nothing (derivatives today – Junk Bonds in the 80’s) and lend it to the people. The people are then deceived that they will make a profit, but all they will end up doing is paying the bank the interest, and often all their property, which the bank claims upon bankruptcy.”
Joel Kurtzman in his 1993 book “The Death of Money” argued that “MONEY – in the traditional sense no longer exists (i.e. paper money). It died two decades ago when Richard Nixon forever abolished the ‘Gold Standard’. Since then, money as we once knew it has been replaced by an unstable new global medium of exchange that is called ‘Megabyte Money’… megabyte money is a threat not only to our country’s long-term growth and prosperity, but to the individual as well.”
This prediction came to pass in 2008!
Author Peter Temin, in his book – “Did Monetary Forces Cause the Great Depression?” argues that in the absence of equilibrating forces: “Most economic models contain equilibrating factors that will eventually bring the economy back to an equilibrium in which all factors, including labor, are fully employed. While these models acknowledge the possibility that the economy may not be in such equilibrium, even for extended periods of time, they insist that the economy would eventually return to such a position. We cannot hope to learn from the experience of the Depression whether the economy is of this sort or not. For even if none of these equilibrating forces were in evidence, they might have appeared at a later date if the decline in income had continued. Nevertheless, it is of great interest that none of these equilibrating forces were apparent in the early 1930’s.”
Temin further contends that “the demonstration that equilibrating forces did not immediately come into play can start at no better place than wages. According to classical theory, disequilibrium in the labor market, like disequilibrium in any market, should be corrected by a change in the price. The cure for unemployment was lower wages. But, as most economists realized by the 1930s, cutting wages was only effective by this reasoning if they could be made to fall relative to prices.”
The political consequences therefore of the Great Depression according to Dietmar Rothermund were evidenced in “Fascism in Europe, populism in Latin America and freedom movements in the colonies… Almost everywhere, the depression hit the poor harder than the rich. Peasants, unemployed workers, small traders – they all suffered from severe deprivation. Debtors were faced with debt service at constant rates whereas their incomes had declined considerably. The only beneficiaries were those who received fixed salaries as they could enjoy cheap food and a drop in the prices of most consumer goods. Those who were confronted with the depression, including politicians and economists, had no idea why all this had happened, and looked for scapegoats. Speculators, bankers and monopoly capitalists were blamed for the depression.”
“Since scapegoats have to be named there were even more concrete allegations: the people in Wall Street, the Jews, etc. were at fault.” “Some people went a step further and constructed conspiracy theories. There must have been a deep laid plan behind all this to fool the people and to destroy their livelihood. In many countries this led to the rise of populism. Politicians tried to portray themselves as protectors of the people against these sinister forces. They usually had no idea of economic affairs, but they made up for this by impressive rhetoric. Wherever the political system had been dominated by a small upper class in previous years, such populist leaders managed to seize power and to cling to it by making arrangements with the upper classes without depending on them too much. Rothermund believes that the deepening Depression by 1931 saw “the decline in income continue for approximately two more years. It was destined to continue for another two years before the decline was arrested…” (The Global Impact of the Great Depression, 1929 – 1939. p. 136).
If what is suspected comes to pass – October may pose challenges which are unheard of in our lifetime. As the banks create more and more money for themselves – the facts suggest that by creating more for themselves with our money means giving most of us less and less. This is the other side of capitalism where others profit from other people’s woes. The impending social fragmentation can thus be categorized as an episode from “Star Trek” – “to boldly go where no one has gone before”…
Like Icarus, we have flown too high to the sun. Today everybody wants to be a somebody, live in a big fancy house with granite countertops and stainless steel appliances, 2 cars in the drive, a holiday in NYC or a boat cruise. Banks and other financial institutions are only too happy to supply us with credit. Meanwhile we send our manufacturing to places like China and Americans are only too happy to shop at places like Walmart. Few people have real jobs anymore. Well, we ain’t in the money anymore. The question is can capitalism survive?
Fox says ex-MoD chiefs partly to blame as job cuts loom – as over a 1000 navy personnel are being forced out against their will…
The defence secretary says former senior military and MoD figures are partly to blame for £5bn budget cuts leading to defence force job losses…
Pingback: Fiddlers on the Roof: Great Depression 2 – Why No Lessons Have Been Learnt From Other Stock Market Crashes and Could the Next One Be Cataclysmic? reblogican.com | reblogican.com
Interesting article until around the half way point when it turned racist
This article completely misses the Crux of the matter, which is that the US Govt contributed majorly to this mess with at least 3 gargantuan missteps
1 It started under Carter when the Govt decided that everyone in the US deserved their own home BUT the said bottom 30% did not have to work hard for it like the majority (or save for a downpayment) and the concept would be financed by Govt/ private intermediaries (FANNIEMAE and FREDDIEMAC) operating in public financial markets. This was carried to a dangerous conclusion by Wall St, Mortgage Coys, Mtg Brokers who committed fraud and misrepresentation, prospective homeowners who agreed to lie on applications etc. I learnt the extent in early 2006 and knew catastrophe was coming. The bottom 30% should have been offered a “Rent to OWN” condo program over 20-25yrs. This would not have caused havoc throughout the economy!
2The US Govt repealed the majority of the rules/ laws that were born out of the fiasco of the 1930s. If all it took was increasing money supply to make everyone rich then why not write a cheque to each person for $1MN?
3 The very dumb idea of doling out Welfare $$$$ ad nauseum without very strict controls and comprehensive planning. Spending on proper, disciplined education with incentives and penalties for all concerned, is the place to start/ focus. There is absolutely no reason for the majority of Welfare receipients to continue in that state for the long term.( except the severely handicapped and many handicapped people want to work)
The politicians MUST bare the primary blame for approving these points above! Why did they give financial control to the likes of Govt Sachs?
CAN YOU SPELL CORRUPTION and MASSIVE $$$$$$ payoffs????
Greece and other countries in the periphery of Europe have been basket cases for years and should never been permitted in the Euro. Greece has been in financial trouble in 55% of the years since its modern incarnation in 1820.
The cost ( financially and socially ) and effects of the “nanny Socialist state” bound to lead to disaster. Why? Encourages laziness and lack of discipline by the beneficiaries and acts as a major disincentive to those paying ridiculously high taxes. This must change as the Babyboomers are retiring and the busters have far too few members to support that demographic bulge as well as FREELOADERS!
From your description of the Hellenistic financial cul-de-sac (a financially arthritic geriatric confined to a wheel chair heading headlong toward an economic quicksand pit) I begin to wonder about Barbados. The embryonic symptoms are similar to Greece and are beginning to pupate; and will soon be spreading like an outbreak of cholera.
Barbados has two vulnerable points in its socio-economic bubble. An aging segment of the population, which, because of very good public health facilities, a sound basic education system and healthy (natural food) nutrition in infancy, can be expected to live on average into their seventies and eighties. On the other side of the spectrum is a reduced pool of spoilt lazy kids, the genetic offspring of baby boomers of the 1950’s and 60’s who believe the World owes them a living. This lot (not all- but too many of them to elicit major concern) has the ATM or Instant Coffee Mentality when it comes to success. Hard-work and Savings are options way down the bottom on the ladder of success. Remember NCD’s- primarily type 2 diabetes due to fast food addiction- along with AIDS will take an additional toll on the productive capacity of this segment of the population.
Remember that the Nanny State benefits systems ,such as NI schemes, are based on the concept of the “meeting turn”. I put in a hand so that you can get something up front. When my turn comes around I do expect you to contribute and not drop out and say you are finished when it’s your turn to pay in. Look around you and you will see the vast majority of young people are not buying into these social welfare systems. Only piggy in the middle (the working poor) is being called upon to contribute more and more while poor little porky is getting thinner and thinner everyday.
Wondered the same last night which was provoked by a debate on Facebook where the prevailing view was for individuals be allowed to buy a car of their choice without government levying a burdensome tax, especially i the luxury class.
The idea that the country needs to fund the foreign exchange needed or that government was using a fiscal measure to control demand did not resonate with the group at all.
Greece will either default in some way or they will be kicked out of the Euro!
I hear that the Germans have already started printing the DM again. There is a major currencieS??? meeting on Oct 6th with Chancellor Merkel, Zoeleck of the World bank, Lagarde of IMF, Sarkozy BE WARNED! Merkel’s Party has lost 7 straight by- elections! Her Finance Minister has openly asked her where is the money going to come from for additional E$ 1.6TRILLION????
I’ve just spent a useless 3/4 hour on David’s crappy Coraline WP theme to have it wiped off in a second.
Change it David, I for one suffer from my mother’s genetic assault on colour vision.
Red on Green !!!! Are you only attracting BFP’s aviators.
Your theme rejects Chrome, for God’s sake that’s enough to scrap it.
Your banner poster is obviously a little tech savvy , change the theme.
To precis my deleted,
NIS is compromised fatally, your pensions depend upon the investment decisions of amateur politicians.
Prove this thisstatewment wrong Mr Marshall, by releasing the audited financials and the yields.
Greece is deceased, buried, off the perch, left this mortal coil,
Italy, Portugal and Ireland are in the morgue, awaiting identification by delinquent yet supposedly concerned relatives.
France is a basket case, absolutely dependent upon the good offices of Frankfurt to even pretend to be part of any solution.
Germany, the one state in Europe to have conducted regulatory banking practices, and actually abided by EMU guidelines has had enough of the bluster, bluff and downright lies of its supposed trading partners.
As I see it, the EMU will disintegrate, the EU will tire of France’s entreaties and collapse into its own debt vortex, the ridiculous protection of the bankrupt banking sector will fall under peaceful, or spring-like people power demanding separation of investment and savings.
And most importantly a return to the true value of money i.e. Gold standard
Sound money with a fixed value.
We, here in Barbados, may not like this message but no 5 year term politician is going to tell you.
Maybe a 70 % devaluation could save us from meltdown.
Revive our FX earnings and tourism.
Sticking with a declining US dollar is a suicide note.
We are placing all our bets on a decrepit mule in the Kentucky Derby,
US$170 trillion of CDS need to be unwound.
Are you listening? 6 billion people in the world, each individual born with a global debt of over US$200,000 per person.
Probably more than an average Bajan will earn in his life after tax, and we’re supposedly first world!!
Who is ever, under what scheme, with what responsibility,is ever going to satisfy these debts?
Answer: Can’t happen.
Banks, countries, people, companies, pension schemes. NIS are going to have to take a savage haircut.
Obama commits 700n billion, which Bernanke leverages to $,3,000,000,000,000 and rolling, and for what.
No help for jobs, unemployment still rising.
No help for householders. Foreclosures at record highs.
No lending to businesses. All this printed cash boosting bank balance sheets, whilst devaluing the US$ and Bds$.
All our price increases are not from inflation, they’re from the ever decreasing value of our dollar through its link to the US.
You think Switzerland got increasing food prices?
I just wait for Mr Trevor Marshall to calmly tell VOB that the reason your cheque is late is because I lent your money to finance Nigeria, VECO, Hardwood, GEMS, Greenland, CWC2007, BNOC and you must starve until we receive the legacy benefits.
to have an open mind maybe yo should consider / assume mortgage backed securities financial crisis was deliberate .. assets for billions were issued and traded for hundreds of millions with no adequate asset identifiers / breakdown of underlying composition / trade systems to capture and process properly
large money movements were traded off the books effectively as one big legal money laundering type of scam
Deliberate or a greedy market which needed to penetrate the high risk segment to sustain aggressive growth targets?
there is talk / financial evidence black ops money was involved
in public domain
All of this expert analysis, of the World economic CRISIS, however detailed it maybe, boils DOWN, to, and is NOW* in its final stages of ushering IN* the One, EVIL, WICKED, ‘World Government’ the Anti-Christ, End-Time, Satanically inspired, Elitists planned collapse of the US economy, without which, the other world economies, will not crash!
There is NO* way out of this MESS, Jesus Christ IS* the ONLY answer!!!
zoe or should I call you terry I get confused as you are the same in so many ways.. if it is all prophesied like jesus was crucified then is it all gods master plan or is the whole thing a bunch of powerful nut jobs following a corny script
“The white man has…….”
This may well be true BUT it is NOT for the racist reason expounded. It is because the white man is HUMAN! Can you show a shred of evidence that other races would have acted any differently? NO! Have black leaders in Africa been generally so kind and share with the poorer members of their community? NO! Why do people living in the oil rich delta of Nigeria have to resort to steal oil by rupturing the pipeline? Naturally they explode periodically killing and maiming many. When are educated but generally somewhat unsuccessful black people going to stop blaming everything on white people instead of doing what successful black people do
1 educate themselves in the right disciplines
2 work hard (not wait for whitey to pay up for histories wrongs)
3 appreciate the necessity of raising kids in a family environment with proper discipline( one parent situations tilt the odds, although I have extremely good examples of black women raising families eg my cousin’s maid had 11 kids for a variety of men BUT she understood the principles of success and everyone of those 11 kids made it to at least middle management!
Most people are cognizant of China being ahead of the West scientifically eg gunpowder, printing,navigation etc. But are you aware that the Emperor in 1420s sent Admiral Ching Ho on a Global Circumnavigation with 800 ships to open global trade and reconnoitre the Earth. This was accomplished by 1427 BUT shortly before the expeditions return the Imperial Palace suffered a horrible electric storm which claimed the life of the Emperor’s favourite concubine. He was so distraught he took the expeditions return as a very bad omen and ordered all research destroyed and the laying waste of the coastline of China to a 30 mile distance inland. So we could all be speaking Mandarin now had this leader decided to colonise the West. Whitey wanted a sea route to the Spice islands, silk procurement etc and in the later 1400s the Portugese led the charge around Africa and the rest is history. Was this whitey’s fault?????
When Genghis Khan ripped through Persia, Eastern Europe etc was he white??? This marauder would easily have taken over Western Europe if it was not necessary to return to Mongolia when his dad died.
Africa was blessed with natural wealth and it is probably true to say this deprived Africans of the motivation to design ships and go exploring, raping and pillaging! The Vikings took a very different approach.
While we are on this topic I will briefly address the issue of compensation for the wrongs inflicted by the African slave trade. If we agree that at least 40MN died or were wronged by the trade then todays compensation assuming that the average Life Insurance Policy is $500,000 would be $20TRILLION! Where would that come from in today’s financial mess? Why would you pay it to people who have never suffered through slavery?
Exactly what evidence can you proffer to show that I don’t have an open mind? I would suggest you and others reread what I wrote on the 3 US Govt mistakes because they are the root of the problem. If Govts regulate and monitor properly then Enrons, mortgage debacles etc don’t happen to such a serious extent. Politicians failed us and that is why intelligent realists dont trust politicians or Govt actions in the economy, markets etc CORRUPT and CROOKED like the Wall St crowd BUT with one major difference, we did NOT elect the Wall St types we elect politicians! They should act in the interest of the country or GO TO JAIL!
There is a total of close to a $ QUADRILLION in total derivatives that could destroy the financial world!
> The September 11 attacks related to the financial improprieties during the preceding ten years which spurred at least nine federal investigations which were initiated in 1997-1998. The records of many of those investigations were held in the Buildings Six and Seven and on the 23rd floor of the North Tower.
> allegedly $2.3 trillion pentagon funds went missing
the records were destroyed in the pentagon on 9/11
maybe misappropriated funds were lent out, in the wash,
and sold on as debt instruments to get clean money back
TB is going to have a field day with this nugget:
Fareed Zakaria GPS Show on CNN this morning did a piece on the fact that Venezuela is the 15 largest holder of Gold in the world.
It seems President Chavez has indicated he wants the gold in Venezuela which is currently held in vaults around the world.
Is Chavez right or wrong?
The host of the show expressed the view that gold is over priced because demand for gold in recent years has been down so it means it is the speculators who have been forcing the price.
I have been writing on BU for many moons warning that the “WINDS OF CHANGE” are blowing across the land… No country, political leader or institution is safe from the ravages of a world turned on its head…
Let’s face it – CHANGES* are afoot that will make 2011/12 look like a JOKE*… This may not be the time to look at “FUTURISM” and the emergent phenomena that looms precariously on the horizon (a discourse that is the TOPIC* for another day)..
Governments are trying to guard against MORAL PANIC* and they think by clamping down on civil disobedience that somehow they will inoculate the system from imminent overthrow… THINK AGAIN!!!
A ROCK HAS BEEN HEWED FROM THE MOUNTAIN WITHOUT HANDS THAT WILL SMASH ALL MAN-MADE MONOLITHS!!!
Clearly, as nothing was learnt from the STOCK MARKET CRASHES* of the past – even today, nothing is being learnt from the ARAB SPRING UPRISINGS as politicians continue to bury their heads in dystopia – denying that the same COULD* happen on their doorsteps…
So WATCH* Greece in the coming weeks as hardship bites…
AMERICA* who happens to be the “DOUBLE-SIX” in the pack of domino is no different to those ARAB* countries that are experiencing seismic social infractions…
The wind are also blowing on the N. American continent and the forces that have been unleashed (some of it of man’s making) but the demons of HELL* are arrayed in an outright conflagration – intent on the destruction of the human specie by any means necessary…
The genus that is at work is to pit BULL V BEAR in an all out war where no one wins and the decimation on all sides would be catastrophic…
So we know that the overlords on WALL ST. are simply buying time – they know its ENDGAME*…
This weekend more than 700 anti-Wall Street protesters were arrested as a result of the growing anger over Wall Street’s smash and grab tactics…
But all that does is to foment relentless antagonism by the opposing forces who are militant about facing down the establishment WHERE THERE WILL BE NO RETREAT OR NO SURRENDER…
World conditions must reach the APOCALYPTIC ABYSS* before we can usher in new DISPENSATION* of righteousness (RIGHT LIVING)…
Till then – LET THE BEAT ROLL ON!!!
LET ANARCHY ARISE – LET HELL BE RAZED* AND LET THE FORCES GOOD*** VY AGAINST THE DAMNABLE AGENCIES OF “evil”…
For the indolent – let me be clear: “THE DEADLIEST VIRUS* ON EARTH IS APATHY”…
IF YOU ARE NOT OUTRAGED – YOU’RE NOT PAYING ATTENTION!!!
YET WE KNOW THAT SOME FOLKS ARE SO (morally) BROKE THAT THEY ARE INCAP[ABLE] OF EVEN “paying” ATTENTION…
That piece was AWESOME***
Well articulated and profoundly stated…
Couldn’t have said it any better…
“Interesting article until around the half way point when it turned racist…”
SORRY BIG BOY* BUT THE TRUTH HURTS HUH?
If the evidence points in another direction – PLEASE ENLIGHTEN US!!!
“This article completely misses the Crux of the matter, which is that the US Gov’t contributed majorly to this mess with at least 3 gargantuan missteps…”
My friend, the article posits  positions by inferring that nothing has changed since 1837 in terms of lessons learned – but moreover, the cycle of monetary engineering that has brought us to this place in time…
I concur with your findings that there have been mis-steps along the way but were those steps purposefully engineered or were they dumb moves on the part of those in public office???
If history is an indicator of anything given that we have propped up a beleaguered CAPITALIST* system based on Keynesian economics and the fault-lines have resulted in fissures and canyons too wide to bridge – the only OPTION* is to let the BLOODY* system implode on itself…
From the ruins may emerged a more egalitarian world!!!
@ Straight Talk….
Barbados is NOT, nor have EVER BEEN, First World. It just isn’t big enough. Honestly. And Bim’s mentalities aren’t, either. Just because Bajanscan get on a plane and travel to other countries doesn’t mean they have the mindset to work with them to benefit all parties involved.
@ Terrence M. Blackett…
The system WILL implode…but are you going to like what comes out of that? Be careful what you wish for, you just might…or might not…get it! And you may not like it either way!
To be honest my friend, I am prepared for any eventuality – be it LIFE*, DEATH, THINGS PRESENT, THINGS TO COME, PRINCIPALITIES, POWERS, THINGS ABOVE, THINGS BELOW… nothing can separate me from the LOVE OF GOD*… NOTHING!!!
So frankly, I don’t really care about a LUCIFERIAN SYSTEM that bottoms-up or bottoms-out on itself… If this is the price – then que sera, sera…
One thing for sure, before the coming of CHRIST* again – every earthly man-made system will be destroyed… Call me a DOOMIST or whatever you like but better than being a DENIER* or APATHIST*…
The sun will come out tomorrow… bet your last dollar, tomorrow there will be sun…
Step Aside BBC “Trader”: Head Of UniCredit Securities Predicts Imminent End Of The Eurozone And A Global Financial Apocalypse…
I know full well that sarcasm is the lowest form of wit, but mine just hurdled your comprehension.
CAPITALISM DOESN’T WORK…
Capitalism, for all it’s flaws, is the best we’ve got.
Politicians, for all their flaws, should be hung for treason.
Rampant, government assisted, deregulation is the cause.
A true capitalist would laugh at our dying global sysytem.
Nobody dies, we all prosper, and the plebs pay…. Sweet.
The probs are perpetrated by crooked, corrupt pols who have sold out to the Wall St criminals, it is a Cabal of the Extremely evil. Now we all should know that in order to have the NWO New World Order they must destroy what exists as proof that what we had was wrong. ( just like Burnham and Manley did in the C’bean) Intelligent people comprehend that ADAPTATION and sensible change is what really works with high probability ie Barrow/ Adams in Bim.
A properly designed incentive system works! Surely it is not coincidence that the countries with the highest standards of living all have an incentive system?
Pols can ruin anything for votes by encouraging their hangers-on with fat jobs, giving away hardworking people’s money through high tax and massive inefficiencies/ waste etc.
Even Keynes himself wrote a very favourable comment about Hayek and Von Mises’s school of economics.
Please read what i wrote above on the Whiteman’s 4oo yrs above
Regarding Anwar visiting the Pentagon. there is the old saying “keep your friends close and your enemies closer”.
Some are stating that he is an American citizen so should have been brought for trial. I see it exactly the opposite. As an American citizen he should not be choosing to side with Islamist Murderers who hate America.
Why should soldiers risk their lives to extract him??????
the focus for protest’s seem to be sharpening for issues
from the west / whites / american’s to the richest powerful american’s
and in israel from jews to the zionists
now link the two to find the answer to the question of who is to blame for the worlds problems
it’s a wrap (the filming of this movie or part of a movie is completed)
@Kiki et al…
“It’s going to be the kind of loan that wouldn’t require a Barbados Government guarantee and therefore wouldn’t appear on the country’s books as a foreign debt,” said a source familiar with the plans but who wasn’t authorized to speak on behalf of the Barbados Government.
if banks go bust they will keep your savings and request full payment of o/s debts or will repossess property
MSCI World Equity Index Hits Lowest Since July 2010
Thanks for the VIDEO… just goes to show that the winds of change are blowing over the land…
From NY to Najaf….
From Boston to Barcelona
From LA to Lahore…
All around the world let the global social forces of UNREST* be felt in every nook & cranny…
Former BET owner BOB* JOHNSON says that the AMERICAN economy is quote “FRIGHTENING” and BLACK* unemployment is spiraling around 17% – almost “DOUBLE” the national average….
IF HE IS A BILLIONAIRE* AND IS SCARED* S***LESS – WHAT ABOUT THE REST OF US???
@TMB et al…
Do you not find it interesting that almost all of the ads on TV now are for cars (which they claim will make you super-persons) or are for drugs they claim will cure you of all ails (if they don’t kill you (“in extreme cases, death has been known to occur. Consult your Doctor”))?
LIVE FAST – DIE YOUNG & MAKE A GOOD-LOOKING CORPSE!!!
“TRUST ME I AM A DOCTOR”….
YOU GUYS IN BARBADOS NEED TO START TAKING YOUR MONEY OUT OF THE BANKS AND KEEP IT AT HOME IN A SAFE…
A WORD TO THE WISE!!!
Britain could be in the grip of the “most serious financial crisis ever”, the governor of the Bank of England has told Sky News.
Sir Mervyn King said the global and UK economies had been turned on their heads in the past three months alone and said: “The world has changed.”…
READ MORE: http://uk.news.yahoo.com/fears-uk-worst-ever-economic-crisis-163131106.html
What has to happen for the DENIERS* to accept that GREAT DEPRESSION 2 is coming down the rail-road tracks @ rocket speed???
Mervyn King’s words cannot be taken with a pinch of salt!!!
What a global depression will mean for Barbados – none of us have ever done an episode of STAR TREK* to know what that will truly mean…
So while the politicians LIE* and we fight amongst ourselves like a barrel of CRABS* – the looming spectre of “GLOBAL IMPLOSION” hangs precariously over all of us…
If the BU scoffers want to continue in a state of DENIAL* – a reality check is on its way!!!
Those who are AWAKE* need to continue the VIGIL* and to hold our leaders to account…
Seems that your prognostications are really ushering in the advent of the 2012 Mayan prediction and the subsequent return of my people to save their genetic modification experiment from self-destruction!
You should change your pseudonym to ” 2012 Watcher”!
@TMB… Based on your immediate above, would you agree it would be really smart risk management to not borrow any more money (either individually or nationally)?
This includes not buying a new car or a new cell phone (individually) or investing in a new marina or housing development (nationally).
Earth calling TMB.
Please respond TMB…
Will you stop posting rubbish when the world does end…
“Based on your immediate above, would you agree it would be really smart risk management to not borrow any more money (either individually or nationally)? This includes not buying a new car or a new cell phone (individually) or investing in a new marina or housing development (nationally)…”
That is a good question CHRIS*….
The global economy has been engineered into its current CRISIS* position by SPECULATORS, HEDGE FUND MANAGERS, BILLIONAIRE INVESTORS & those at the TOP* of the PYRAMID* who orchestrate our lives…
Listen to the words of LIBERAL DEMOCRAT MP & UK Coalition Minister Vince “THE ORACLE” Cable at their recent Party Conference: “We face an economic crisis the equivalent to WAR*”… (bogus words or nerve-racking truth – you decide?)
The Governor of the BANK OF ENGLAND* has just pumped £75 BILLION into the so-called British “ECONOMY” (monies that won’t reach Joe Bloggs in any substantial manner) with the hope of supposedly jolting growth and creating jobs…(But where will this money go? who will profit from this money? will it be siphoned off like all the other monies pumped into the economies of the world since 2008? and can we continue to create FIAT* $$$ out of thin air with no longer term repercussions?)…
Again YOU DECIDE?
But CHRIS* – this is ALL* spin at the highest diabolical levels…(Let us see a counter argument if one forthcoming or even VIABLE)!!!
The system must crash and BURN* in order that the stated aims of the “ENLIGHTENED ONES” may come to pass…
I know FOLKS* don’t want to hear the truth and will try to castigate you for speaking what the majority is quick to bury their heads in the sand over…But is not the reality that we face unlike anything in history including the GREAT DEPRESSION* of the 1930’s)???
But do you think that all the GLOBAL* protest in every nook & cranny is just the feeble machinations of people with lots of time on their hands?
Some of us are AWAKE* to the realities and believe the “PROTESTANT” spirit must embody a NEO- REFORMATION zealousness not seen since the 16th through the 18th century…
To answer your question affirmatively, we all understand basic economics which says that spending “FUELS” growth and creates employment – the problems come when the CREDIT CARD* had been maxed out and we are still looking to borrow more and more without putting curbs on gross consumption and blatant excess…
Surely, unsustainable DEBT* level should be a deterrent but in a world of blind dystopia and mindless FOLLY* – acquisitional disease is an emergent pathology of late 20th century postmodernity…
We can choose to follow – or choose to take a LEAD!!!
Finally, YOU DECIDE!!!
It is obvious the rate of consumption we have reached is unsustainable.
When we have low earners as an example qualifying for huge mortgages and other loans.
How can it be?
David | October 9, 2011 at 8:38 AM |
It is obvious the rate of consumption we have reached is unsustainable.
When we have low earners as an example qualifying for huge mortgages and other loans.
How can it be?
Something like this happened already … but in the US.
Think it cost the taxpayer $800billion.
This is the stuff pyramids are built on.
Our bailout won’t be $800 billion … but it will hurt real real bad.
Are you talking about the Savings and Loans bust?
@ Terence M. Blacket
“The system must crash and BURN* in order that the stated aims of the “ENLIGHTENED ONES” may come to pass…”
I might have missed your previous threads but it is never too late to enlighten a man! Who are these “ENLIGHTENED ONES”?
I am inclined to agree with you that the game is up for Western capitalism and its financial hocus-pocus. The big guys in the know are sending us signals that things are about to implode in a cataclysmic way. Those who have ears to hear let them hear! I suspect what this meltdown of Western economies could result in a clash between USA and, its biggest creditor, China. The only missing link in the puzzle is where the spark that sets off the inferno is located. Syria / Iran vs Israel is a possibility.
America has its own printing press so it can continue to print greenbacks until the world economy crashes which according to Terence B. will be soon -maybe 2012.
Barbados does not have its own printing press but relies totally on earning foreign currency denominated in US$ before our CB can to ask Thomas de la Rue (or its equivalent) to run a job. No foreign currency in the banks no local bail out of CLICO or the likes. Won’t happen!
You make an interesting point when placed against the current demand by CLICO policyholders and Al Barrack.
Does anyone look forward to the times ahead?
David | October 9, 2011 at 9:15 AM |
Are you talking about the Savings and Loans bust?
The one where the banks sold paper and raised billions on mortgages given by persons who common sense said would default.
Never fully understood it.
YOU KNOW THINGS ARE WORST THAN WE ARE BEING TOLD WHEN CHINA HAS TO BUY BANK SHARES TO PROP UP THE STOCK MARKET…
Read more: http://hosted.ap.org/dynamic/stories/A/AS_CHINA_BANKS?SITE=RIPRJ&SECTION=HOME&TEMPLATE=DEFAULT
ITALIAN MINISTER ASK FOR “traders” TO BE TESTED FOR COCAINE USE…
ROFL…. what a joke!!!
Read more: http://www.cnbc.com//id/44855449?utm_source=twitterfeed&utm_medium=twitter
Shares of Dhanlaxmi Bank slid by as much as 24% in afternoon trade on the bourses today after the All-India Bank Officers Confederation (AIBOC) raised several questions about the lender’s financial health…
Shares of the lender had opened on a strong note in the morning, but surrendered the gains thereafter, tumbling to a 52-week low on the Bombay Stock Exchange and the National Stock Exchange…
Read more: http://www.business-standard.com/india/news/dhanlaxmi-bank-tanks-24-over-%5Cpoor-financial-health%5C/148718/on?utm_medium=twitter&utm_source=twitterfeed
The Walls of Greece are tumbling down, metaphorically speaking of course.
And with it, a new era for the EU, maybe even a pull back to the ‘core’ countries only.
Britain must be thankful that it chose not to join the Euro. Times are about to get quite hairy, the EU is on the brink of breakup, the European economies having much work to do, to rationalise and remediate their positions.
At the same time, the large financial corporations are still playing the same money games, witness the one that just lost 3 billion, allegedly ‘rougue’ trading, bollocks, these corps have much controls, merely a fall guy.
Games and mirrors, who are the winners , who the losers?
It is a long haul.
I have just take a depression test at iqtestonline.net and I think I depressed 🙁
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