Member Submitted News

Oct 23 07:59

Greenspan: 'Credit tsunami' to have severe impact

Former Federal Reserve Chairman Alan Greenspan told Congress in prepared testimony Thursday that the current global financial crisis is a "once in a century credit tsunami" that policymakers did not anticipate.

BULLSHIT

If they read this site they would have known it was coming.

Oct 23 05:23

Bell Labs, sadly, is refocusing to concentrate on near-term problems rather than basic research.

For those who question the virtues of basic science, and ignoring the benefits of the existential quest for understanding of our world, one of those Nobels was for the invention of the transistor, the basic element that has made modern electronics possible. If the Labs had produced nothing else, that one new idea would justify their 83 year history.

Others feel differently. August 28 was the end of their basic research efforts. Their focus will now be on technologies promising short-term results that can be turned into products.

Oct 23 03:37

Maybe U.S. needs yard sale Russia could buy back Alaska or perhaps Canada could pick up sunny Florida

At the end of Second World War the British Empire still ruled nearly a quarter of the globe. But the war bankrupted Britain. Its once mighty empire quickly collapsed and the United States inherited much of the British Imperium.

Six decades later the United States is close to bankruptcy thanks to a national orgy of borrowing, the replacement of manufacturing by financial manipulation, ruinous foreign wars and a government whose stunning incompetence and arrant stupidity was exceeded only by its reckless imperial arrogance.

Oct 23 03:35

Bank Losses Q3 What will Wall St do now ?

This is the week when the Banks step out from behind the curtain and lay it all bare and it's not a pretty picture at all. But, it never was going to be anyway.

Oct 23 03:33

Wall Street's 'Disaster Capitalism for Dummies'

Yes, we're dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We're obsessed about the slogans and rituals of "democracy," distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who's president.

Oct 23 00:47

Warren Buffett, Government Propagandist

Buffett is doing the government's dirty work in trying to calm the fears of the masses.

Oct 22 22:57

CSPAN TO AIR PRESIDENTIAL DEBATE LIVE! 10/23/08

Free and Equal is pleased to announce that CSPAN will be covering tomorrow night's debate LIVE from 9:00pm to 10:30 EST. Constitution Party candidate Chuck Baldwin and Independent candidate Ralph Nader have confirmed their participation

Oct 22 22:33

Getting ugly in Minnesota

6 Minn. politicians' homes vandalized

Oct 22 22:19

World Leaders To Hold Summit At Bretton Woods?

In 1944, the hotel was the site of a post World War II conference on an international financial system. The World Bank and International Monetary Fund were the result.

Oct 22 22:03

The Precious Advice of Colin Powell - Here we go again!

General Powell returns with more precious advice - let's think about this...

Oct 22 21:06

A lot of ruin in a nation

What has happened in the U.S. is that the Fed created new money starting in 1997. This led to the dot-com boom. People spent money to create businesses they thought would be huge hits. They thought there was lots of new money to build businesses and later buy the products. There wasn't. Same thing in 2003. It was very cheap to borrow money and build houses. The homebuilders did very well. Unfortunately, they were building them for people who hadn't really saved, and couldn't really afford them.

Oct 22 20:56

The Myth that Laissez Faire Is Responsible for Our Financial Crisis

The ability of the media to ignore all of the massive government interference that exists today and to characterize our present economic system as one of laissez-faire and economic freedom marks it as, if not profoundly dishonest, then as nothing less than delusional.

Oct 22 20:45

Take this hockey stick and shove it Goremongers

Global temperatures have been dropping since 2005.

Oct 22 19:39

Who Voted Yes to the Bailout

Vote NO! For Those Who Voted Yes to the Bailout
Your Voters Guide for the Next Four Years

Oct 22 15:24

Azerbaijan diverts EU oil, gas to Russia and Iran after Georgian crisis

Azerbaijan is planning to divert its oil and natural gas export routes to Europe with increasing shipments to Russia and Iran, a move possible to raise concerns in the West.

Oct 22 15:20

Attack on Iran off the table?

On Sept. 23, the neo-conservative chiefs of the Washington Post’s editorial page mourned, in a tone much like what one hears on the death of a close friend, that “a military strike by the United States or Israel [on Iran is not] likely in the coming months.”

Oct 22 15:16

Israel Gets Real on Iran

Washington On the eve of his departure from political life, outgoing Israeli Prime Minister Ehud Olmert delivered a stinging parting shot – putting under question not only the wisdom of holding on to Palestinian land, but also the feasibility of an Israeli military strike against Iran’s nuclear facilities.

Oct 22 15:09

The Derivatives Tornado

Assets = 9.301 Trillion Dollars

Derivatives = 172.175 Trillion Dollars

Pop Quiz: how many of the banks above have gone Pop ? Who's next ?

Oct 22 13:27

The War Party Embraces Obama... Justin Raimondo

In the midst of a softball interview with Georgian President Mikheil Saakashvili, New York Times reporter Deborah Solomon hurls this zinger:

"For all your lofty talk about democracy, last November you shut down the opposition television station in Tbilisi."

To the oily Saakashvili, however, this is water off a duck's back:

"The interference with Imedi TV was an exception, not a rule. This action was taken during mass riots when Imedi TV started to incite overthrow of the democratically elected government. It should be noted that the government did pay damages."

Oct 22 11:13

Moved by a Crescent

By MAUREEN DOWD
Published: October 21, 2008

Oct 22 10:43

FBI Uses InfraGard to Train Private Citizens to Cooperate with Government, Potentially Enforce Martial Law

InfraGard

Twenty-three thousand executives and employees of various private firms work with the FBI and the Department of Homeland Security. The group, called InfraGard, receives secret warnings of terrorist threats well in advance of public notification, and sometimes before elected officials. In return, InfraGard provides information to the government. InfraGard is a quiet quasi-governmental entity which wields an unknown, but extensive, amount of power and influence.

Oct 22 10:34

End of America--The Movie

Haven't watched it all the way through yet. Curious as to what other WRH readers think. Is Naomi Wolf on our side? Or is she a Rhodes Scholar wolf in sheep's clothing?

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Kooch

Check out my politically-charged rock band, ThE Gitmos, at:
http://www.myspace.com/thegitmos

Oct 22 09:13

How Inflation Works: Why I Can’t Buy an Old Ferrari

PAUL CRAIG ROBERTS
Counterpunch
Wednesday, Oct 22, 2008

Anyone who has been alive very long is aware that the US government has failed on the inflation front. Soft drink machines that once delivered a bottled drink for a nickel now charge a dollar, a twenty-fold increase in price.

Oct 22 09:00

The Enforcement Arm of the Robber State

As the economy collapses, credit lines become constricted, and tax revenues are choked off, we can expect local representatives of the parasite class (commonly called "government") to become perversely creative in finding new ways to extract money from productive people. For parasites looking to feast on the wealth of others, the liberty-devouring fraud called the War on Drugs offers a particularly rich menu of possibilities.

Oct 22 08:43

What Went Wrong in the Capitalist Casino?

"THE great inter-war slumps were not acts of God or of blind forces. They were the sure and certain result of the concentration of too much economic power in the hands of too few men. These men had only learned how to act in the interest of their own bureaucratically-run private monopolies which may be likened to totalitarian oligarchies within our democratic state, They had and they felt no responsibility to the nation."

Oct 22 07:37

MarketWatch: Wall Street's 'Disaster Capitalism for Dummies'

Finally, the coup de grace: Along came the housing-credit crisis, as planned. Press and public saw a negative, a crisis. Disaster capitalists saw a huge opportunity. Yes, opportunity for big bucks and control of America. Millions of homeowners and marginal banks suffered huge losses. Taxpayers stuck with trillions in debt. But giant banks emerge intact, stronger, with virtual control over government and the power to use taxpayers' funds. They're laughing at us idiots!

Oct 22 06:01

India launches 1st unmanned moon mission

As India's economy has boomed in recent years, it has sought to convert its newfound wealth — built on the nation's high-tech sector — into political and military clout. It is hoping that the moon mission — coming just months after finalizing a deal with the United States that recognizes India as a nuclear power — will further enhance its status.

READ ABOUT IT HERE

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While US political hacks fight to see who can steal the most from the ignorant citizens ...

Oct 22 05:53

Paulson vows action on crisis as earnings stagger

Wachovia Corp., which is being bought by Wells Fargo for about $14 billion in stock, said Wednesday it lost $23.89 billion in the third quarter. It earned $1.62 billion in the same quarter a year ago. Airplane maker Boeing reported its earnings slumped 38 percent as a strike halted production of commercial jets.

Tech companies are taking a hit, too, as the economy slows and spending by consumers and businesses drops. Yahoo is slashing 1,500 jobs while it braces for a deep downturn likely to extend well into 2009.

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Oct 22 03:15

How the US Treasury is like Caesar’s wife

Since the onset of the financial crisis, the assets and liabilities of the US banking system have increasingly been consolidated onto the balance sheets of the Federal Reserve and the US Treasury.

Oct 22 03:08

The Realignment of Power

We are all standing dumbstruck in front of a Giant Onion whose layers are being peeled away one at a time. With each layer exposed, the reality dawns brighter and we are beginning to discover real meaning behind current events.

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