$4 Trillion down the drainnnn

[Albert0373]

http://www.techcrunch.com/2008/09/16/the-mess-on-wall-street-four-trillion-dollars-down-the-drain/

And a thoughtful comment:

Good. Let the market work this crap out of the system. It's a shame people think this is an error done by the free market.

You know what's funny?? The Federal Reserve was supposed to stop all those bank runs (which were created actually through the First and Second National Banks and US coinage acts; not by the free market itself), and yet thousands of banks closed during the Great Depression, we have stagflation in the 1970's, 1987 the stock market plummets so we create the Plunge Protection Team (President's Working Group on Financial Markets --- Google it..very very interesting), 1990 the real estate market collapses (again), 2001 the Dot-com bubble bursts after the Federal Reserve increased the money supply to the point where they won't even report M3 anymore--the aggregate money supply--which resulted in Wall Street pouring its capital into stocks like Pets.com, etc. and now today...the largest ever bankruptcies have been filed, trillions of dollars worth of assets have been seized and socialized by the Federal Government, and we haven't even had unemployment start its move yet. The Federal Reserve's responsibility is to maintain low inflation; since its inception, the Dollar has lost over 95% of its purchasing power in its 95 year history.

Can we just admit the Government sucks balls at economics, and that a private corporation like the Federal Reserve doesn't even half-assed do its job?? Why do we put up with this, and why do people insist on Digging irrelevant economic policies of Obama and McCain?? Both their budgets are $3+++ trillion per annum...how the hell do we afford that?? By cutting off corporate loopholes and ending pork barrel spending?? Give me a ****ing break.

-seocookie

[Albert0373]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

- Thomas Jefferson (1743 - 1826),
Letter to the Secretary of the Treasury Albert Gallatin (1802)

[Svenwulf]

so, i guess you only get welfare in this country if you can really afford it, eh?

but let us not delude ourselves into thinking this is all coincidence, incompetence, or just "part of the cycle." instead, let us ponder who profits in our current state of events.. what previously unimaginable changes will be made to ensure "this is the last time?" for whatever reason i keep returning to the history of the roman empire. perhaps the us in the 1930s is easier to understand.. either way, it becomes more clear each passing day that your cash, your wealth, your freedom, your liberty, and the future of your children are under attack. and the hostility is poorly disguised. i would again recommend interested parties to view mr aaron russo's film "freedom to fascism," or other presentations posted previously. using a cudgel to summarize- the american people are currently getting exactly what they deserve. yet undetermined lies the question- is apathy nature or nurture?

none of this makes us money. merely hollow condolences on a historically untradeable day. do not fret for me, however, as my biz is coming back quite strong. deciding to leave full time trading was the best thing ive done in 2008- so this round is on me. cheers! and the new music this summer was of a high cycle, imo.

thank you for the post al- i salute your wisdom and your honor.