Monthly Archives: September 2008

Trying to water the dollar while pretending the sky is falling

THEY ARE TRYING TO WATER THE DOLLAR WHILE PRETENDING THE SKY IS FALLING –One by-product of the bailout bill, as independent journalist Dave Lindorff has pointed out, is the enormous effect it would have on the U.S. dollar. As traditional and iconoclastic economists both know, a net effect of pumping hundreds of billions of dollars into the economy all at once, when that money has… Read More

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Why didn’t the government just intervene to pay off vulnerable mortgages?

WHY DIDN’T THE GOVERNMENT JUST INTERVENE TO PAY OFF VULNERABLE MORTGAGES? FUNNY HOW THIS SEEMS TO HAVE OCCURRED TO NO ONE IN THE BUSH ADMINISTRATION– but the waves of foreclosures that are said to have begun the current financial crisis, if it is one, could have been held back from the get-go. How? Simple: Through government intervention. If Uncle Sam was going to jump into… Read More

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Why are they listening to Warren Buffett on the bailout?

WHY ARE THEY LISTENING TO WARREN BUFFETT? Why is Congress inviting in a major investor–who stands to recoup more billions of $ in the wake of the bailout proposal, if enacted–to weigh in on legislation? Buffett has made billions through–if I read his own words correctly–buying when other people are selling, and selling when other people are buying. Admittedly this simple principle, following the so-called… Read More

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What is the big rush? Why a bailout ‘within days’?

What is the big rush? Why ‘within days’? –In other words, how fast is the FBI investigation moving? Somehow, John McCain’s abruptly canceling out of the first presidential debate, scheduled for this Friday, and ‘suspending’ his campaign to return to Washington reminds me of then-Sen. Phil Gramm’s abruptly announcing back in 2001 that he would be retiring from the Senate. Nobody had thought of Gramm… Read More

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Bailout Extortion

Bailout Extortion         Treasury Secretary Paulson and Federal Reserve Director Bernanke issued only generalized warnings, if dire, in testifying at the Senate Banking Committee hearing yesterday. One question left unanswered was a big one–‘What exactly is the harm in not authorizing the smashing sum of $700 billion+ to bail out some entities in the financial industry?’ (Another big question not answered: Which… Read More

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