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shite hits fan

by: astraea


And with the money gone, Obama's reforms evaporate. Remember Bill Kristol on Colbert saying it was fine if the Dems took the White House in 2004 because they could be left holding-bag-when-shite-hits-fan? Well. Plan B. And all in time for the glorious End Time, 2012.

Wonder. Have any Theocratically EnRaptured Churches lost their shirts?


Was the 'Credit Crunch' a Myth Used to Sell a Trillion-Dollar Scam?

By Joshua Holland, AlterNet. Posted December 29, 2008.

Even as the media continue to repeat the claim that credit has frozen up, evidence has emerged suggesting the entire story is wrong.

[...] Of course, no one disputes the fact that as the economy has tanked, the number of new loans being issued to American families and businesses has plummeted. But is because credit has dried up for qualified borrowers?

Economist Dean Baker doesn't think so. He explains the situation in simple terms: The media, he argues, "are blaming the economic collapse on a 'credit crunch' instead of the more obvious problem that consumers just lost $6 trillion of housing wealth and another $8 trillion of stock wealth." It's a commonsense argument: much of the economic growth of the Bush era existed on paper only, built on the rise of a massive bubble in real estate values rather than growth in productive industries. When all that ephemeral wealth vaporized -- and with the economy shedding jobs like a dog with dermatitis -- consumers stopped buying, and businesses, anticipating a long slowdown, stopped seeking the loans that they might have otherwise tapped to expand their operations.

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xpost on robot sex


My brother (the responsible one) who had all the money saved up to buy his first car on the day he turned 16 (and the money for the two tickets he got the first week), estimates that due to a variety of reasons which include the 6 foreclosures on his cul-de-sac figures that his house is worth about $100K less than the loan. His 401K is almost completely gone.

Nothing like leaving someone else holding the bag.
by: Debra (contact) - 29 Dec '08 - 16:25
So sorry.

Let's hope the meek really do inherit the earth.

(of course, that bit of Biblicalwisdom was really just the hopefully-chosen when they were small-time backwoods desert tribe folk wishing bad things on their mighty neighbors, Egypt and Babylon. The present endtimer/chosen ones have KBR build their latrines on the old-timey ancient mighty-ones ruins. Ah, but no matter how many museums are left to be looted, no matter how many bombs are dropped, truth is still truth. I can't wait until Seymour Hersh gets to typing. )
by: astraea (contact) - 29 Dec '08 - 17:11
Forgive me. The Beatitudes rock.
by: astraea (contact) - 29 Dec '08 - 18:46
"The Beatitudes rock."
Blessed are the conspiracy theorists, for they shall be proven right sooner or later.
Astraea, your post partially confirms an idea that I've had on the shelf for some time now--that the whole hideous downfall of the American empire, politically, economically, socially,--was planned. And so I would gainsayeth those who would say that boygeorgebush is a failure of epic proportions. If his administration's actions are cast in the light of the PTB wanting everything to fail and the American people moved to peasantry status, then he should be considered a monumental success.
by: Peter of Lone Tree (contact) - 30 Dec '08 - 10:45
back in 2000, certain anonymous exfed agent (agents likely) were very busy warning & educating many online the xtain recons and zionists. am I paranoid? do I tend to jump at shadow now? yep. but then i remember most anything that gets done is just people conspiring... business is business, and and how often is it said it's also the religion of america? works both ways now.
by: astraea not signed in (contact) - 30 Dec '08 - 17:46
It is SO obvious (to me anyway) that Mr. Obama is "the distraction" we've all been waiting for.

From Georgewashington's blog:

"Political science professor at the University of Texas at El Paso Charles Boehmer points out that "The military was not called out during the Great Depression...."

So why is the military planning on how to crush civil protest in regards to the current economic crisis (see this, this, this, this, this and this)?

Is it because the theft - via "bailouts" and other hanky-panky by Treasury, the Fed and others - of hard-earned taxpayer wealth is so obvious that the military expects Americans to revolt?

The other potential explanation is that the military has been told that this financial crisis could be much, much worse than the Great Depression.

So which is it? The obviousness of the theft or the severity of the crisis?

My guess . . . both.
(make sure to read the "this, this, this, this, and this) on the post.

and this timely piece:

GMAC's eased loan rules to buoy GM
Lender, automaker add incentives to boost sales
by: JerseyCynic (contact) - 31 Dec '08 - 07:19
One outfit that musta forgot to put in for a bailout is just up the road apiece: Cryovac Closing Cedar Rapids Plant.
(Begins): The Sealed Air Cryovac Plant in Cedar Rapids is closing. About a month ago, Cryovac warned employees the plant might shut down.

Now, more than 250 workers know they will lose their jobs sometime within the next six to ten months.

A company spokesperson says closing the plant will make Sealed Air more productive.

If you hit the link and read the comments, the general consensus, however, is that it's a union-busting maneuver. PoLT's opinion is that the 6-10 month window is for the management to give the employees time to decide if they want to come slithering up to management with all sorts of wage and benefit concessions, all the while groveling at the feet of the managers and begging to perform unspeakable indignities in exchange for the privelege of continuing to work.
by: Peter of Lone Tree (contact) - 31 Dec '08 - 09:44

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Title: shite hits fan
Date posted: 29 Dec '08 - 16:11
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Filed under: General
I Like This: 5 (vote)
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