DISQUS

AMERICAblog: World market respond to Sunday night Wall Street tsunami

  • Bostonian_Queer_in_Dallas · 1 year ago
    Sing it Tweety, sing it again!

    WHO WOULD YOU RATHER HAVE A BEER WITH?

    The Second Great Depression is now upon Idiot America. But oh how they loved that faux cowboy from Midland, TX. Oh no couldn't have Al Gore in 2000. Ain't gonna be a good bubba to have that beer with. Happy now? Happy with what you elected in 2000? Don't give me that shit about the Supreme Court. The vote was very close. Half this nation voted for the bubba from Texas that they wanted to eat ribs and swill Buds with. And nothing has really changed. Now they wanna fuck Caribou Barbie. Yee Haw! Ain't she a pip? MILF!!!

    Enjoy the ride, idiot America. You made this possible.
  • Will_In_Midtown · 1 year ago
    In this mornings AJC.com, two letter writers give a nice summary of what I have been thinking for a long time:

    "In today’s 24/7 news cycle it is difficult for the average reader to connect the dots between related items. However I thought I would try on Thursday, which was the seventh anniversary of 9/11. Between the front page and business section, I found seven articles that exemplify the difficult times we are in and the lack of leadership that will be required to get us out:

    DeKalb County students may lose busing because of rising fuel costs, among other reasons (“5,600 may lose bus service,” Page One); “Georgia No. 3 in late home loans” (Page One); big oil companies linked to bribery with Department of Interior officials (“Graft alleged in feds’ ties with big oil,” News); FEMA shells out billions in no-bid contracts without any oversight (“New audit faults FEMA contracts,” News); “Study says speculators caused surge in oil prices,” (Business); “Afghan war getting tougher, Pentagon says,” (News); “Obama calls McCain ads false outrage,” (News); and “Habitat founder rips greed,” (News).

    My attempt to sew these stories together: Our society continues to place wants above needs. This greed corrupts our free-market system and encourages poor decision-making from the working-class homebuyer to the CEO of the biggest companies. Government intervenes, attempting to stanch the bleeding, resulting in short-term relief but actually making things worse. The only viable political parties bicker like children avoiding meaningful debate and are goaded on this path by the media."

    And the second letter:

    "I have yet to hear guarantees from politicians who advocate oil drilling offshore and in Alaska that the drilling will be done only by American-owned companies and that all resultant petroleum will be refined and sold only in the United States. U.S. oil independence and drilling offshore and in Alaska are not necessarily the same thing. Know this and proceed carefully."

    Both, I think, make great attempts at either summarizing the current situation - As created by George W. Bush - or at pointing at a hot button issue and deflating it a little.

    Our Democratic candidates need to be just as diligent in connecting these dots for the public. From listening to their stump speaches, I fear they are wrongfully assuming the American public is still smart enough to draw these conclusions themselves.

    On the flip side, Jim Martin is running in Georgia for the Senate seat of Saxby Chamblid (aka, Bush's Butt Plug). His commercials do an EXCELLENT job of linking current general misery to George W. Bush, and by extension Chamliss for voting with Bush even more consistently than McCain.

    Just my two cents for this morning...
  • lies · 1 year ago
    the thing that killlllls me is that this isn't just a "credit crunch" it's a crime who victims are the world's banks.

    just google this who fiasco a bit and learn that this really was a criminal enterprise and that the banks are simply unwilling to call it that out of fear of being seen as incompetent and easily duped.

    The reponse shouldn't be bailouts, but instead criminal prosecutions and a return to the laws of even 2000, which would fix the problem, not simply prop up the (wealthy) victims of this mugging.

    Looking for a link to a great Channel 4 (UK) doco about this.. will post if I find it...

    The American media seems to completely covered up one of the greatest thefts in the history of the world...
  • Indigo · 1 year ago
    Down 15% would be scary; down 3% is a standard bad-news burp.
  • boogieandjive · 1 year ago
    Phil Gramm, of course, has every reason to pretend that the financial catastrophe is in our collective heads. He is, after all, largely responsible for overturning the Glass-Steagall act that was, of course, introduced following the Great Depression caused by exactly this sort of banking fraud.
  • vkobaya · 1 year ago
    As usual they lie about the situtation. The media is talking about two storied Wall Street firms which have now collapsed and disappeared. Know nothing about Leyman Bros., but back when Arthur Andersen went down with Ken Lay, as I recall, another investment firm that was in deep, deep scandal was Merrill Lynch so they are hardly pristine.
  • Sage24 · 1 year ago
    We know many Americans think little of world opinion. But this time, they should pay heed.
    The majority want Obama to win. The whole world depends on the US economy.
    Take the Iraq war for instance, the world was against it, and they were right.
    Sometimes the world shows better judgment than some people in the US.
    Obama will be better for our economy. McCain will continue the mess we are in now. Even a child can get it.