You know what I bet they plan on doing? They'll just cut interest and fees a bit. Nothing more. I love how they call them "student loans," when in fact, no money was ever, "loaned." We live in a system that uses fractional reserve banking. They have a certain amount of money in the bank, a student needs some money for school, the banker just punches up the cash and creates it out of nothing. No money was ever "loaned," from anywhere, it was created. It's complete garbage, and it's a lie. Please Register or Log in to view the hidden image! The American Dream click to watch
What is worse, the banker "punching up cash" (that according to you doesn't exist) or you fabricating and/or passing along the false notion that that bankers are punching up a bunch of nonexistent cash? That "nonexistent cash" the bankers punch up is used to pay the tuition bills, teachers, books and all of the other bills that student loans are used to pay. Without it, those students would not be able to graduate.
Over the years I have read (in western, not Chinese) press many articles telling how inefficient China's SOEs are. SOE = State owned (or operated?) Enterprises. They lose money, manage the capital badly, fill the corrupt pockets of the state apointed inept managers, never fire the useless workers, (the "iron rice bowl" policy = job for life) etc. but today, skimming this one by: Sherwood Zhang, CFA, Research Analyst Matthews International Capital Management, LLC A strange idea hit me: - The SOEs are exactly what most of the 99% want. - I.e. an end to US style corporations, which are concerned only with profits (especially bonuses for management, golden parachutes when they leave, etc.) and don't think even once about lying off 10,000 workers when they can get their jobs done by cheaper "out sourcing" - There is no "iron rice bowl" in US capitalism - hell for many now their is not even an empty plastic rice bowl. China has long admitted that all of the charges against SOEs in the western press for the last few decades are basically true, but justified them as "serving a higher social purpose" - mainly steady jobs for many was more important than making profits. "Bailing out" their losses every year with treasury money, instead of unemployment checks, etc. was socially worth it to keep them in business, etc. The 99% don't yet realize it, but a US version of China's SOEs is what they want !
Top 1% Share of Total Income: Please Register or Log in to view the hidden image! When this graph's curves gets too high, global depression usually follows. (But China and its suppliers will not be too badly hurt if it happens a few years from now due to the rapid decrease, as percentage, of the Chinese trading with the US and EU.) Modern economies need mass buying that is shrinking as over extended Western customers "deleverage" (save more.) The actions of the 99%, if they have any significant effects on the economy (move it more to socialism, etc. or SOEs of China* - see my last post), are likely to be to make the depression come at a lower average point than the 1927-1929 part of the curve. Anyway, I am still predicting the run on the dollars now comes at least within the next three years. (Halloween 2011 was yesterday.) Graph from: http://www.economonitor.com/nouriel/2011/10/17/full-analysis-the-instability-of-inequality/ * GM is already "Government Motors" pushing the poorly selling Volt.
The graph above appears to show the drop off close to the end of the Great Depression, not at the beginning or during. This probably was the result of Roosevelts policies as well as a general loss of wealth during that time. Also, this was at the beginning of WWII, when world trade plummeted to almost nothing. The top 1% lost due to the economic times, but did not predict its arrival.
Late response. Better late than never I guess. First, securities were one small part of a large equation. The press has become obsessed with the banks role because their understanding is limited. Also, it is what the government has been promoting. Remember, banks struggled with many lending devices: Mortgages, Business Loans (particularly related to commercial real estate), HELOC's, and credit cards to name a few. Many banks that struggled never even sold their notes, but held on to their own debt. Securities were the trigger; but the problems run much deeper. The role the banks played was giving access to credit a consumer should never have had: remember this spending is what gave the economy the illusion that it was fine. If people never had access to such levels of credit, spending would have been limited, service jobs never would have existed, and the problems with the economy would have been obvious sooner. The problem with the economy is the fact that people simply do did not have the money they were spending, because the job base in the United States has declined over the last three decades. In a sense, the United States has attempted to make goods cheaper by cutting back on labor and becoming even more productive. However, production is the American's strong point, and this kind of cutting can only go so far. The playing field is, in general, not fair with many Asian countries and the trade deficit can be cut with policies that would not necessarily start a trade war. Again, Germany has managed to protect its jobs under the same circumstances. In order for people to understand a complex problem they often try to find the simplest answer. Banks=problem, so fix banks, fix problem. What got the United States to this point, however, is significantly more complex, and the press is certainly not capable of explaining it.
Here is something else from China they will want as not one of the “creative writers” of “no money down” etc. home loans pushed on even the unemployed for commissions etc. and without any risk as they would soon be sold away with AAA ratings in diversified packages to effectively swindled investors (or eventually the US tax payers) has gone to jail: “… A Shanghai court just sentenced the former CEO of Shanghai Pharmaceutical, a state-owned drugmaker, to a suspended death sentence for corrupt activities in which he amassed more than $8 million. …” Please Register or Log in to view the hidden image! "Wu Jianwen was convicted of accepting bribes, embezzling public funds and other graft charges by the Shanghai Intermediate People’s Court, and will likely see his sentence commuted to life in prison." From: http://www.pharmalot.com/2011/11/chinese-drug-exec-gets-suspended-death-sentence/ BTW Brazil too is much tougher on bank crooks than the US: "unlike in the United States—where just about nobody has gone to jail because of the way that banks behaved during the creation of the mortgage bubble—under Brazilian law, controlling shareholders in a bank have unlimited personal liability. (Think that might focus your mind?)" From: http://www.moneyshow.com/investing/...5295/Itau-Profits-Leave-US-Banks-in-the-Dust/
We don't want an end to corporations, only unregulated corporations and a government that is controlled by their money.
Seems the protesters are turning a tad rancid. http://www.foxnews.com/us/2011/11/0...-violent-crime-breaks-out-at-occupy-protests/
Well if things have turned a tad rancid as you claim, you had better inform Mayor Bloomberg. Because this very morning, he had nothing but praise for the protesters. He said they were neat and well behaved and law abiding. Nothing new about Fox News misinformation. They have been attacking the Wall Street protesters while promoting the Tea Partiers/Tea Baggers they created. http://www.bloomberg.com/news/2011-...-income-inequality-into-political-debate.html
BS, now you want to resort to shooting the messenger? You know it hasn't been just Fox saying it Joe: http://abcnews.go.com/US/sexual-assaults-occupy-wall-street-camps/story?id=14873014 http://online.wsj.com/article/SB10001424052970203804204577014420265539592.html http://www.nypost.com/p/news/local/manhattan/protester_busted_in_tent_grope_QxAzp8mG8pULWA6cPzgnXL And it hasn't just been at Wall Street: http://spectator.org/archives/2011/11/07/the-mob-who-came-to-dinner http://www.examiner.com/conservativ...iolent-mayor-addresses-protesters-open-letter http://www.vancouversun.com/news/Oc...sters bite police officers/5680921/story.html http://www.examiner.com/conservativ...inged-as-arrests-continue-crime-up-18-percent http://www.latimes.com/news/local/la-me-1105-occupy-crime-20111105,0,7765367.story http://www.sfexaminer.com/local/crime/2011/11/occupy-sf-encampment-hit-violent-incidents http://www.abc2news.com/dpp/news/region/baltimore_city/mayor-eyes-crime-at-occupy-site http://www.coloradostatesman.com/content/993121-confrontation-turns-violent-police-occupy-denver As to Bloomberg: http://newyork.cbslocal.com/2011/11...-protesters-clean-up-your-act-and-quiet-down/ http://nymag.com/daily/intel/2011/11/bloomberg_not_pleased_with_pro.html http://www.metro.us/newyork/local/a...g-crime-at-occupy-wall-street-goes-unreported
LOL, No one is shooting the messenger Arthur. Here is the deal, Fox is attributing those incidents directly to the movement and trying to portray the Wall Street protesters as kooks and thugs. Funny, they didn't have any trouble with the Tea Party thugs wreaking violence on non Tea Party folks. And in those other reports, they did not attribute the reported incidents to the movement as Fox did and continues to do. Crimes happen every day in those areas used by the Wall Street protesters. That does not mean the Wall Street protesters are a part of it. Additionally, you have it Bloomberg's own words from yesterday morning. He said they were very well behaved. And gave several examples of their good behavior. Wither the businesses in the area of these protests are prospering are not, really is not the issue - not to mention that no one has any evidence that one has anything to do with the other.
LOL, clearly you are ignoring the words directly from the mouth of Mayor Bloomberg and made just yesterday morning on national TV - which is far more current and more direct than anything you offered.
Close your eyes, you are good at it, and click you slippers thre times Arthur and keep repeating your mantra. Bloomberg does not support your claims. And he is he mayor. An he made those comments yesteday on public TV. And they do not comport with your claims. You have the video. No matter how many times you click your slippers and repeat your Fox/Tea Party mantra, it will not change what Mayor Bloomberg said about the Wall Street Protesters.
O.K. I got one for ya . Maybe you all heard it already . The homeless are suing the protesters in Sacramento. Yeah they lit down on there main homeless park and at first the homeless were o.k. cause they could get in there food lines and get a meal . Now they want them out of the park that they consider there home . Is that riot or what ? To funny To funny . Life is hilarious . To funny
Please refresh my memory, I don't recall any such incidents. Meanwhile, here are some reports on what the Occupy Thugs were up to today: * In Portland, an Occupier was arrested for throwing a Molotov cocktail down the stairwell of a building. * In London, employees of St. Paul’s Cathedral have had to clean up human waste left by Occupiers inside the cathedral. (What is it with the Occupiers and toilet issues?) * In Portland, another drug overdose. * In Vermont, a man was shot to death at the Occupy Burlington encampment. * At Occupy San Diego, a citizen journalist was violently assaulted. * In Atlanta, tuberculosis has broken out among the Occupiers. * In Salt Lake City, four were arrested after a melee broke out in the Occupy encampment. * In San Francisco, police expressed concern about escalating violence among the Occupiers, following incidents including gun possession, assault on a city worker and trespassing on the new holiday ice rink.http://www.powerlineblog.com/archives/2011/11/occupier-devolution.php
Why am I not suprised? It could have happened right in front of you and you would not recall any such incident. Do a little honest research on the subject Mad, it really isn't that hard. Funny thing, as with Arthur, there was nothing linking any of those incidents with the Wall Street movement. You guys are scraping the bottom of the barrel in an attempt to smear the Occupy Wall Street Movement. And last I checked, London is outside the continental boundaries of The United States.
LOL, so now you're defense is that the other Occupy protests aren't related to the OWS protest? Hilarious
