Banks with political ties got bailouts, study shows

[maple_leafs182]

Source

NEW YORK, Dec 21 (Reuters) - U.S. banks that spent more money on lobbying were more likely to get government bailout money, according to a study released on Monday.

Banks whose executives served on Federal Reserve boards were more likely to receive government bailout funds from the Troubled Asset Relief Program, according to the study from Ran Duchin and Denis Sosyura, professors at the University of Michigan's Ross School of Business.

Banks with headquarters in the district of a U.S. House of Representatives member who serves on a committee or subcommittee relating to TARP also received more funds.

Political influence was most helpful for poorly performing banks, the study found.

"Political connections play an important role in a firm's access to capital," Sosyura, a University of Michigan assistant professor of finance, said in a statement.

Banks with an executive who sat on the board of a Federal Reserve Bank were 31 percent more likely to get bailouts through TARP's Capital Purchase Program, the study showed. Banks with ties to a finance committee member were 26 percent more likely to get capital purchase program funds.

As of late September, nearly 700 financial institutions had received bailouts of $205 billion under the capital purchase program, the study said.

The banking industry has long been criticized for using political influence to obtain bailouts.

Scott Talbott, a senior vice president with industry lobbying group The Financial Services Roundtable, said the study was skewed because it did not exclude nine of the largest banks that were "strongly asked" by the government to take bailouts.

Those banks included Goldman Sachs Group Inc (GS.N), JPMorgan Chase & Co (JPM.N), and Morgan Stanley (MS.N) -- all of which repaid their bailouts in June.

Bank of America Co (BAC.N) and Citigroup Inc (C.N) more recently announced plans to pay back taxpayers.

Talbott also noted that $116 billion has been repaid with interest.

"This demonstrates the banks were excellent stewards of the taxpayer's money," Talbott said.

But a watchdog for the government's bailout, the special inspector general for TARP, said last month that the broader $700 billion bailout program "almost certainly" will result in an overall loss for taxpayers.

President Obama said in October that despite the bailout, there was still too little credit flowing to small businesses. (Reporting by Steve Eder; Editing by Gary Hill)

[Pliny]

I think Banks that got bailouts did have political ties but probably the tie was the finance committee, making the decisions had their investments in those banks. Guys like Chris Dodd.

[Oleg Bach]

I think Banks that got bailouts did have political ties but probably the tie was the finance committee, making the decisions had their investments in those banks. Guys like Chris Dodd.

Some old lawyer who pretends to be a nobody quietly whispers in the ear of some lacky political henchmen and the banks get what ever they order up...it is all about shifty tacit connections...Here is the reality..who ever holds the bag of gold rules in this world...politicals have no power...they are not bankers..they are not even good at being gangsters- or actors for that matter.

[maple_leafs182]

Some old lawyer who pretends to be a nobody quietly whispers in the ear of some lacky political henchmen and the banks get what ever they order up...it is all about shifty tacit connections...Here is the reality..who ever holds the bag of gold rules in this world...politicals have no power...they are not bankers..they are not even good at being gangsters- or actors for that matter.

believe me, i know.

Central banks have deceived us all.

I'm kind of amazed how many people have not caught on to this.

[Pliny]

believe me, i know.

Central banks have deceived us all.

I'm kind of amazed how many people have not caught on to this.

They haven't deceived us. Their plans are well known. They have done everything above board. The reasons given for their existence in law are there for anyone to see.

The fact they are great failures is also there for anyone to see. There will be no admission of failure so the system will either change or collapse.

Have they decieved the general populace by centralizing and overseeing the fiscal policy of the nation and arrogating unto themselves the sole right to print the nation's currency. No. It is plain to see they have done so - where is the deceit in that?

You obviously see something wrong in that and suspect deceit. Well, the formation of the central bank was for the good of the nation so that those with the knowledge could protect the nation's wealth and it's economy. Not much different than the government overseeing the affairs of the nation. The fact government further centralizes power is not deceitful. It is, after all, the vote of the public for it to act for the collective good under an increasing mandate.

The overseers of our governmental affairs do not talk in terms of power but in terms of the best interests of society. Power exists to be used in the public's interest. It won't be admitted, and that is perhaps it's only deceit, that it's basic foundation is flawed and cannot bring about the prosperity it claims it can.

I think it is the power and influence on a nation's economy that acts to blind them to failure. So should power and influence be that concentrated in the first place?

[maple_leafs182]

They haven't deceived us. Their plans are well known. They have done everything above board. The reasons given for their existence in law are there for anyone to see.

The fact they are great failures is also there for anyone to see. There will be no admission of failure so the system will either change or collapse.

Have they decieved the general populace by centralizing and overseeing the fiscal policy of the nation and arrogating unto themselves the sole right to print the nation's currency. No. It is plain to see they have done so - where is the deceit in that?

You obviously see something wrong in that and suspect deceit. Well, the formation of the central bank was for the good of the nation so that those with the knowledge could protect the nation's wealth and it's economy. Not much different than the government overseeing the affairs of the nation. The fact government further centralizes power is not deceitful. It is, after all, the vote of the public for it to act for the collective good under an increasing mandate.

The overseers of our governmental affairs do not talk in terms of power but in terms of the best interests of society. Power exists to be used in the public's interest. It won't be admitted, and that is perhaps it's only deceit, that it's basic foundation is flawed and cannot bring about the prosperity it claims it can.

I think it is the power and influence on a nation's economy that acts to blind them to failure. So should power and influence be that concentrated in the first place?

I believe that Central Banks were created on false pretexts.

Central Banks were created to stabilize economies so recessions and depressions would no longer occur, fail...

Central Banks loan the money it creates out of thin air to governments at interest, governments can only get the money to pay the interest from the central banks, so Central Banks must continuously increase the money supply to be able to pay off the interest.

This creates inflation, this is why everything was so much cheaper 60 years ago.

These quotes are mainly american based, but I believe they are applicable to Canadians as well.

"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

"The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of colonists to get power to issue their own money permanently out of the hands of George the III and the international bankers was the PRIME reason for the Revolutionary War."

-Benjamin Franklin

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men."

-Woodrow Wilson, after signing the Federal Reserve into existence

"Give me control of a nation's money and I care not who makes it's laws."

-Mayer Amschel Bauer Rothschild

"Under the Federal Reserve Act, panics are scientifically created. The present panic (Panic of 1920) is the first scientifically created one, worked out as we figure a mathematical equation."

-Louis McFadden

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

-Henry Ford

"By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft."

-British Lord John Maynard Keynes (the father of 'Keynesian Economics' which our nation now endures)

The overseers of our governmental affairs do not talk in terms of power but in terms of the best interests of society

I don't believe governments are using there power in the best interests of society for they are enslaved to a system of credit/debt just like the citizens of the nation.

I believe poverty wouldn't exist if the best interests of society were in mind.

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits."

—Sir Josiah Stamp, (President of the Bank of England in the 1920's, the second richest man in Britain)

"While boasting of our noble deeds were careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.

— Horace Greeley

Truthfully, I think it's time for a new Revolution, I don't want a war, a peaceful revolution.

[bush_cheney2004]

.....Truthfully, I think it's time for a new Revolution, I don't want a war, a peaceful revolution.

They already had a revolution.....in 1776.....against your empire.

[maple_leafs182]

i'm not just talking about america..Canada too, same with other nations that have central banks.

A global revolution

[bush_cheney2004]

i'm not just talking about america..Canada too, same with other nations that have central banks.

A global revolution

Then how about some "global" references. Thomas Jefferson was not from Turkey.

Central banks are here to stay for a long time, and you may not like what follows.

[maple_leafs182]

Then how about some "global" references. Thomas Jefferson was not from Turkey.

Man, just for you I'll find some.

Sir Josiah Stamp and Lord John Maynard Keynes were British so I did use more then Americans

If anything you she be happy someone from another country believes in the values of your countries founders, you always seem to get mad that i do.....

Central banks are here to stay for a long time, and you may not like what follows.

We are in for some rough years if people don't wake up.

We already are living in the greatest depression this planet has ever seen, what's happening in the middle east I think may be pretexts of WW3.

Realize that for up until recently General Electric owned NBC(they own 49% of it now).

General Electric is also one of the worlds largest arms manufactures, would they expose a story that could cost them a contract worth a lot of money? My guess is no, but I'll let you decide.

And right now, this time right now, this is the pinnacle of what is to come over the next few years.

It kind of blows my mind why people aren't taking this seriously, I am not the only one who thinks like this...there are many.

People just need to stop only using mainstream media as there primary news source...

I'm kind of glad I'm alive right now, we live in some very interesting/exciting times, maybe the most important in Human History to date.

[bush_cheney2004]

Man, just for you I'll find some.

Sir Josiah Stamp and Lord John Maynard Keynes were British so I did use more then Americans

If anything you she be happy someone from another country believes in the values of your countries founders, you always seem to get mad that i do.....

You might think that, but I am more likely to think it is just more pathetic aquiescence to the reigning super power's history. No sense picking on you, as several members often begin their NWO rants based on completely regurgitated content from American web sites, vicariously living the dream from afar. I call them American wannabes.

We are in for some rough years if people don't wake up.

We already are living in the greatest depression this planet has ever seen, what's happening in the middle east I think may be pretexts of WW3.

Nope...can't be that bad if we get to watch it all on HD flat panels. You are too young to have lived through any such worldly depression, deprivation, or conflagration....and so am I. We have it pretty easy.....

Realize that for up until recently General Electric owned NBC(they own 49% of it now).

General Electric is also one of the worlds largest arms manufactures, would they expose a story that could cost them a contract worth a lot of money? My guess is no, but I'll let you decide.

GE is a "multinational" conglomerate.

And right now, this time right now, this is the pinnacle of what is to come over the next few years.

It kind of blows my mind why people aren't taking this seriously, I am not the only one who thinks like this...there are many.

People just need to stop only using mainstream media as there primary news source...

Nonsense...just because you happen to be alive at this juncture does not make it the "pinnacle" of anything. You pays your money and takes your chances just like the rest of us.

I'm kind of glad I'm alive right now, we live in some very interesting/exciting times, maybe the most important in Human History to date.

Oh sure...much more important than anything prior to now...LOL!

[maple_leafs182]

You might think that, but I am more likely to think it is just more pathetic aquiescence to the reigning super power's history. No sense picking on you, as several members often begin their NWO rants based on completely regurgitated content from American web sites, vicariously living the dream from afar. I call them American wannabes.

Okay, I'll respect your opinions I guess, but I still disagree with you.

I don't get it, what do you need me to say, what kind of proof do you need that this is real, there are people above the level of governments leading us towards a one world government/economy and it is unfolding right before our eyes.

European Union

United Nations

G8

G20

We are trying to reach a Global Climate Change Treaty...once we do, this will truly be the start of a world government.

United Nations conference calls for new global currency

China Calls for a Global Currency

At G20, Kremlin to Pitch New Currency

If you know anything about the economy you should know that pumping new money into the economy can only lead to one thing, inflation, your nation is doing this at an alarming rate, your nation is the world reserve currency and worlds largest economy, if the us dollar crashes, the US economy crashes, the world economy crashes, global depression. They will pitch a world currency to us and they will say its to stop future catastrophes like this from happening again.

Us, believing what they say is true every time(H1N1,Weapons of mass destruction in Iraq) , we will believe them and we will end up with a world currency.

Look throughout history, it's always been about power and control, why should now be any different, what would make us the exception. I know we haven't learned anything from WW2, this is why we are in wars now.

Nope...can't be that bad if we get to watch it all on HD flat panels. You are too young to have lived through any such worldly depression, deprivation, or conflagration....and so am I. We have it pretty easy.....

Just don't even watch TV i think is the best option.

I may be too you to of lived through one before, but I am still smart enough to realize we are in one.

and yes, we do have it pretty easy, but it will only go down from here, you'll see.

GE is a "multinational" conglomerate.

K, they still have created a conflict of interests.

Nonsense...just because you happen to be alive at this juncture does not make it the "pinnacle" of anything. You pays your money and takes your chances just like the rest of us.

Compared to the next few years, I don't know how long, this is will be the pinnacle.

I don't expect you to believe, you don't even believe me we are in a depression.

Once you realize this is a depression and you will either by choice or by surprise, you will need to realize that this is by design.

Oh sure...much more important than anything prior to now...LOL!

I said maybe...It's definitely up their

I think we are at a crossroads here. We could either continue to let governments, banks, and corporations control every aspects of our lives, continue to have poverty, war and disease, or we choose to be free, start living in peace and working together, start taking care of this planet and everything that is on it.

[bush_cheney2004]

Okay, I'll respect your opinions I guess, but I still disagree with you.

I don't get it, what do you need me to say, what kind of proof do you need that this is real, there are people above the level of governments leading us towards a one world government/economy and it is unfolding right before our eyes.

It's going to take more original content that what you have presented so far. We have seen it all before, and all you are doing is tracing old ground. We get NWO paranoid types here on a regular basis.

European Union

United Nations

G8

G20

We are trying to reach a Global Climate Change Treaty...once we do, this will truly be the start of a world government.

Nope...not even close. The last "climate change treaty" didn't do much at all either. Hype vs. reality.

If you know anything about the economy you should know that pumping new money into the economy can only lead to one thing, inflation, your nation is doing this at an alarming rate, your nation is the world reserve currency and worlds largest economy, if the us dollar crashes, the US economy crashes, the world economy crashes, global depression. They will pitch a world currency to us and they will say its to stop future catastrophes like this from happening again.

Again, you are too young to have experienced the Great Depression and resulting world war conflagration. It is laughable that you would compare your potential plight to such a thing. If the US economy crashes, then it crashes.....suck it up and stop relying on the USA to be the stablizer...or at least be consistent if you are afraid of being ruled by another nation or world government.

Us, believing what they say is true every time(H1N1,Weapons of mass destruction in Iraq) , we will believe them and we will end up with a world currency.

Currencies are for convenience....you can tote gold or goats around if you wish.

Look throughout history, it's always been about power and control, why should now be any different, what would make us the exception. I know we haven't learned anything from WW2, this is why we are in wars now.

Then stop worrying...we shall have more of the same....and Super Bowls too.

Just don't even watch TV i think is the best option.

That's what Ted Kaczynski (Unibomber) thought too.

I may be too you to of lived through one before, but I am still smart enough to realize we are in one.

and yes, we do have it pretty easy, but it will only go down from here, you'll see.

OK...I will start digging that bomb shelter in my back yard this spring.

Compared to the next few years, I don't know how long, this is will be the pinnacle.

I don't expect you to believe, you don't even believe me we are in a depression.

Once you realize this is a depression and you will either by choice or by surprise, you will need to realize that this is by design.

I don't know what you mean by "we", but surely you are wrong about a current "depression". If doom be your wish, you can achieve that all by yourself.

I said maybe...It's definitely up their

I think we are at a crossroads here. We could either continue to let governments, banks, and corporations control every aspects of our lives, continue to have poverty, war and disease, or we choose to be free, start living in peace and working together, start taking care of this planet and everything that is on it.

No way.....peace is way overrated. The planet gets raped either way.

[Oleg Bach]

Media injects some novocaine in your ass and they sodomize you at will like a dumb and naive little farm animal. That being communicated, is exactly the mind spin rape perpertrated by our old banker corporate types...who hide their identity behind incorporated bullshit...who probabably have twenty companies in layers above them...leaving them undetectable.

The greatest thrill these old bastards have is to fu*k you with someone elses apendage. All I know and I will say it no more is that in my observant opinion over the years is that a few old creeps run the whole system and take great glee in being michievious old boys who treat us like their own private ant farm!

When ever they want more power they simply coerce those that they quietly appoint who in turn coerce the next chump down the food chain who then meets quietly for a drink with some cheeze ball politican..who in turn simply lobbys to give the banks what they want out of the public treasury. It's kind of like the Canadian style of the American Federal Reserve.

What did you expect the super dogs who's personal wealth is such that it is of no consequence to them at this point in their oh so successful lives. It's not really corruption because they are not like us. They do not care about money..it's about pride and power. It is about managing a system that is now so complex that it is unmanagable, hence intermintent collapses routinely take place. Is there a Mr. Big? Is there a few of them? I really don't know for sure who they are...but I will gladly take the job as long as I have clean laundry..good medical care - privacy and enough funds to eat and not be harrassed by the system they created and now wish to abandon.

[maple_leafs182]

want out of the public treasury. It's kind of like the Canadian style of the American Federal Reserve.

Nah, The Bank of Canada is our Central Bank.

It's going to take more original content that what you have presented so far. We have seen it all before, and all you are doing is tracing old ground. We get NWO paranoid types here on a regular basis.

don't stereotype...

Again, you are too young to have experienced the Great Depression and resulting world war conflagration. It is laughable that you would compare your potential plight to such a thing. If the US economy crashes, then it crashes.....suck it up and stop relying on the USA to be the stablizer...or at least be consistent if you are afraid of being ruled by another nation or world government.

But i'm not to young to understand the reasons for the great depression and yes, we are repeating history.

I'm not afraid of being ruled, we all already are, I'm just tired of it.

We aren't living, we are surviving.

Currencies are for convenience....you can tote gold or goats around if you wish.

Why do people keep saying this. Trade is not the only system.

Then stop worrying...we shall have more of the same....and Super Bowls too.

I don't want more of the same, i want change.

OK...I will start digging that bomb shelter in my back yard this spring.

you're ignorant.

I don't know what you mean by "we", but surely you are wrong about a current "depression". If doom be your wish, you can achieve that all by yourself.

We, as in the people of this planet who are controlled by the system.

No way.....peace is way overrated. The planet gets raped either way.

Peace and Love...

[bush_cheney2004]

I don't want more of the same, i want change.

So you are advocating the overthrow of Canada's government and constitution? Good luck with that.

you're ignorant.

I get a lot of that from paranoid types who don't like my version of reality.

We, as in the people of this planet who are controlled by the system.

This implies that there are some who are not...you should join them.

Peace and Love...

....pass the doobie.

[Oleg Bach]

No one calls it a "doobie" anymore unless they are over 60 years of age and by then your opinions are as clouded as the 60s.

[maple_leafs182]

So you are advocating the overthrow of Canada's government and constitution? Good luck with that.

Thank you, i'm gonna need it.

Not only my government, yours as well.

I get a lot of that from paranoid types who don't like my version of reality.

It's because you do not see what is going on.

You think all these problems of society happen just because they do..

U.S. real estate tough, but won't be a shock - BoC

The Bank of Canada(our Central Bank) says the commercial real estate bubble "won't be a shock to the system"

What are other people saying?

Michael Panzner: Commercial Real Estate Is A "Tsunami Unfolding"

Soros, Ross: Commercial Real-Estate Crash Is Coming And It's Going To Be Terrific

Relentless Worsening In Commercial Real Estate Delinquencies

I guess only time will tell.

As for your government, they lied about Weapons of Mass Destruction in Iraq, now they are saying Iran is trying to build Nukes, do you believe them?

They have a great track record of telling the truth...look at the H1N1 pandemic...

And yes they are lying now about this false recovery we are in.

I know lots of people don't believe me, I have many close friends who don't believe me, but they really haven't looked into any of this. They say they will if this turns into a depression, which I can guarantee it will.

So right now all I can do is wait till the markets tank again.

This implies that there are some who are not...you should join them.

Well there are some people who aren't.

I don't want to run away from this, i'm not gonna turn a blind eye to this.

....pass the doobie.

I would if I could, you seem like you could use some.

This is muse, I don't know if you have ever heard of them before, but they are fairly popular.

This is the first single on their new CD entitled "Resistance".

What I'm talking about is becoming more main stream.

Give it a listening to.

Lyrics

Here is a couple of versus.

"Interchanging mind control

Come let the revolution take its toll if you could

Flick the switch and open your third eye, you'd see that

We should never be afraid to die

(So come on!)

Rise up and take the power back, it's time that

The fat cats had a heart attack, you know that

Their time is coming to an end

We have to unify and watch our flag ascend"

[bush_cheney2004]

Thank you, i'm gonna need it.

Not only my government, yours as well.

Great, so now you are an international revolutionary as well. Which other governments will you topple using other people's YouTube videos?

It's because you do not see what is going on.

You think all these problems of society happen just because they do..

OK...but it could also be aliens from another Earth in a parallel universe.

I guess only time will tell.

What? You don't want to control time as well? Revolution NOW!

As for your government, they lied about Weapons of Mass Destruction in Iraq, now they are saying Iran is trying to build Nukes, do you believe them?

Who cares....we've had a hard-on for Iran since 1979.

They have a great track record of telling the truth...look at the H1N1 pandemic...

And yes they are lying now about this false recovery we are in.

Yep...all bold faced lies. Except for the YouTube videos!

I know lots of people don't believe me, I have many close friends who don't believe me, but they really haven't looked into any of this. They say they will if this turns into a depression, which I can guarantee it will.

But you said it already was a depression. Please get your paranoid story straight.

So right now all I can do is wait till the markets tank again.

No...you must rise up and fight the powers that be. See Google Maps for directions to Washington DC...oh wait...the government controls that too!

[Oleg Bach]

Great, so now you are an international revolutionary as well. Which other governments will you topple using other people's YouTube videos?

OK...but it could also be aliens from another Earth in a parallel universe.

What? You don't want to control time as well? Revolution NOW!

Who cares....we've had a hard-on for Iran since 1979.

Yep...all bold faced lies. Except for the YouTube videos!

But you said it already was a depression. Please get your paranoid story straight.

No...you must rise up and fight the powers that be. See Google Maps for directions to Washington DC...oh wait...the government controls that too!

You have a government? I did not realize that. I really thought that it was simply a head office somewhere underground at Dick's house. Persia - yes they make fine carpets and the chicks are hot - so forget about calling it Iran...It's Persia and the average Persian is twice as smart as the average American..at least they know they have no government.

[maple_leafs182]

Great, so now you are an international revolutionary as well. Which other governments will you topple using other people's YouTube videos?

yes, its the how the wars of the future will be fought, via Youtube videos...

But seriously, you can't right everything off just because it is on youtube, and no youtube is not my primary source of information.

OK...but it could also be aliens from another Earth in a parallel universe.

why do I continue to reply to your posts.

Who cares....we've had a hard-on for Iran since 1979.

Me, i care.

Yep...all bold faced lies. Except for the YouTube videos!

I don't believe everything I hear on youtube, just like I don't believe everything I hear on TV.

But you said it already was a depression. Please get your paranoid story straight.

It is a Depression but as of right now it is only a recession, but it is slowly turning into a depression.

in 20 years when we look back at this, we will refer to the whole instance as a depression.

No...you must rise up and fight the powers that be. See Google Maps for directions to Washington DC...oh wait...the government controls that too!

...I know the only chance of things changing is if as a society we choose to change. All I can do now is wake people up.

[bush_cheney2004]

You have a government? I did not realize that. I really thought that it was simply a head office somewhere underground at Dick's house. Persia - yes they make fine carpets and the chicks are hot - so forget about calling it Iran...It's Persia and the average Persian is twice as smart as the average American..at least they know they have no government.

It's all good....the pain that smart "Persia" is feeling in its ass right now would be from my non-existent government.

[bush_cheney2004]

yes, its the how the wars of the future will be fought, via Youtube videos...

But seriously, you can't right everything off just because it is on youtube, and no youtube is not my primary source of information.

Well, don't forget to reference Griffin's The Creature from Jekyll Island .

why do I continue to reply to your posts.

To think that somebody will listen to you, even if in a mocking way.

Me, i care.

So did Joe Stalin.

I don't believe everything I hear on youtube, just like I don't believe everything I hear on TV.

Then why do you believe there is a depression?

It is a Depression but as of right now it is only a recession, but it is slowly turning into a depression.

in 20 years when we look back at this, we will refer to the whole instance as a depression.

Sure...if you say so. Things were swell after the last Depression.

...I know the only chance of things changing is if as a society we choose to change. All I can do now is wake people up.

Nope...the only constant is change. Why should anyone listen to you? You gonna buy me a poney?

[Oleg Bach]

Yah I will buy you a poney. Will get you a cowboy hat also. Maybe even a brand new Daisy...ooops that's not correct..I will buy you a membership to a nice tap dance club with hot instructors that are all male. Would you like that? Here are the fats with American and Canadian political electoral proceedures. First you need to have a billion bucks and own the media - then you find a chump that loves glory more than his own mother - then insert him into public office...of course the banks have control over governments. Poor people with out the help of backers simply never get into high office. If you are educated (conditioned) and are willing to do what the boss wants..your in! Obama is a prime example and so is Harper. Do you think that bankers who invest in military supplies are not going to be pissed off if you pull out of a war zone before targeted finacial expectations are met?

[maple_leafs182]

To think that somebody will listen to you, even if in a mocking way.

ya man, as messed up as that is, that's it.

So did Joe Stalin.

Stalin only really cared about power and control, I want neither.

Then why do you believe there is a depression?

Since the recession started in September 2008 7.2 million jobs were lost in the United States.

40% of America's GDP is made up of consumer spending.

Reatialers can make up to 40 percent of the annual revenue during the holiday season. This Holiday season will be a terrible year for sales because when people don't have jobs, they can't afford to buy stuff they don't need. When terrible sales reports come in, companies that are already struggling financially will go bankrupt, more job losses will occur.

You can't have a jobless recovery.

The only thing stimulating the economy right now is the bailouts and government incentives to encourage consumer spending.

This is a false recovery right now.

The calm before the storm...

The US government has increased the money supply by over 2 trillion dollars since June 08, Americas national debt is now over 12 trillion dollars. In just over a year, the government increased the money supply by 20%. Adding money to the system leads to inflation. If the government continues to bail out companies which seems like they will(just bailedout GMAC financial two days ago), they will continue to devalue the dollar(it's why gold is rising) so prices at wal-mart are going to go up. People are already struggling to pay bills, how will they be able to afford inflation...they won't.

The collapse in the housing market that marked the starting of this recession, the commercial real estate market is doing worse. All these retail stores and corporate offices that companies like Circuit City and Linens and Thing owned, they are being leased by nobody. Banks are set to lose big on this, over the next few years over 2 trillion dollars in loans must be refinanced. Delinquency rates have been rising. This will dwarf the housing market crash.

This is going to hurt economies around the world, it's going to get pretty bad. If any part you feel doesn't make sense tell me, ill elaborate on it more.

Sure...if you say so. Things were swell after the last Depression.

ya man, that world war, it was just awesome...

Nope...the only constant is change. Why should anyone listen to you? You gonna buy me a poney?

I'm not gonna force anyone to listen to me, it's their choice if they do.