This is a notable battle in the class war. Its also a battle for public opinion. The walkout was a risky move. Walker will gut the union if he can, best we keep an eye on Wisconsin. I hope the crowds grow over the long weekend. 25,000 today!
This story is fairly exploding with major coverage around. I tried to focus on that fact that the budget deficit over two years is a lie, this is all about union busting and a classic example of the never ending blame the worker instead of corporate welfare, FIRE, corporate lobbyists and their demands for the economic malaise of the country.
So, they bring the globe to it's knees through fictional derivatives trading, we pay for it and now the U.S. middle class is once again supposed to pay for it by slashing their wages, more offshore outsourcing and stealing their retirement funds.
That's the overall agenda it appears, same with Congress.
It is so corrupt, it's beyond comprehension. As I transverse these various statistical agencies and economic data, I gotta wonder what they are thinking internal, for it's like their statistics and GAO reports, all of the information gathering to set appropriate policy by.....seems to be ignored.
Why bother to have any objective investigative reports or data gathering when politicians continue to spew fiction and worse, enact legislation, policy that's going to damn the U.S. economically further.
I think anyone running for Congress, office should first have to pass a few entrance exams, say economics 101, history 101, statistics 101, even addition and subtraction.
Well summarized.
I really fear that this is where we’re at …..the now current “norm”.
In Illinois we call the obviously colluding and only-hypocritically supportive two parties “The Combine”; i.e., it’s the same goal for both. It’s all about superficially playing to your electorate but in reality supporting the power and money sources (the corporations, deal makers, and money providers). The hypocritical support used to be primarily apparent in how the Republicans played to the extreme right at election time and then all but ignored them till the next election. Now we see it throughout both parties as they kow-tow to the Corporatist agenda. Look at Obama’s response re the WIS governor attempting to unilaterally eliminate collective bargaining for public employees. In an interview, Obama essentially said ‘we all have to sacrifice a bit’. I’ve become convinced that the reason the Democrats don’t even seek to stop the loss of a theme or message, nor even its perversion (e.g. tax cuts for the rich are fine but we need to slash spending ….including the safety net) is that they too are primarily interested in first meeting their obligations to their lobbyist masters.
Empower and encourage the good regulators, the capable Justice Dept? Sorry – we have campaign contributions to encourage and a future revolving door, well-paid retirement tour with these firms in our future.
And I'll take it. Numerian wrote this and I posted it since I find his work so stimulating.
How on earth does this happen: "Also if you see that last year the fed was making money, as the value of their bonds went up, as interest rates went down." But I guess they don't have to worry, do they, as you pointed out, "Also let's not forget to discuss the new accounting rule the Fed started this year allowing them to move the losses back over to treasury." The Fed lives off of the generosity of friends.
I've been trying to understand the Middle East and Egypt and I'm seeing a labor revolution. In the case of Egypt, those defying the government with independent unions were behind the Tahrir Square movement/revolution. They're not newbies, they are hardened, tough unionists who have an aim. The Army and the White House think that they can make this go away, return to "normal." But they're up against a fundamental desire for unions and pragmatic movement leadership that can't afford to lose.
Thanks for your thought (or dread;) provoking comments!
Why is the "bloated" public sector being attacked rather than the super rich who pay virtually no taxes and have benefited from the corruption of the conservative government. Sounds like a bit of a red Herring to me. Goldman sachs was complicit in this mess and the average citizen is bearing the brunt of this massive swindle.
Michael's, It is very interesting to see the game by the Fed. His bet was the average investor would jump in to buy the pumped up market. They have not jumped in as evident by the volume and so they continue to pump, and hope to dump. All of the things you stated in section 2 are most likely the case with China. We are in a currency war, the bombs are simply computor entries, so it's no big deal to keep playing this computor game with China. We up your anty because it's all on a computor screen. Just like the 600 billion now of CDS. The low US currency is allowing US companies to repatriate offshore earnings built up over the last several years. Also if you see that last year the fed was making money, as the value of their bonds went up, as interest rates went down. Now that they have lost between 200 to 300 billion dollars since October they don't seem to be letting us know that. Also let's not forget to discuss the new accounting rule the Fed started this year allowing them to move the losses back over to treasury. Also another new little rule by the Fed is to allow money markets to break the buck. Why would they do that???? Also as GS and MS are now banks they can access the Fed window each day. This allows them to loan the money to their leveredged hedge fund clients. 20-60 to 1 to keep the market put going. The last thing is I have been trying to figure out the middle east. If I see what is really going on the US backed leaders of the middle east have been the Sunni's, now the Shite's are the common people who are really rioting, so it is not democracy we are witnessing, but rather a shift to radical Islam. Hence the US influence is going out the window. Tks
The site has a content uprating system, which is that little arrow next to the upper left post, that only those with accounts can see. Site users can uprate something they think is "damn good" to the front page this way.
Congrats on finding a job, and if you see some verified statistics on those with a BS or better, the time it takes them, the percentage who could get something in their field of study, those who found something outside of their field of study and those who cannot find anything at all, please post.
The statistics I'm seeing are varying and getting solid statistics on just NCGs is hard to find (that are accurate).
I commend your courage to reveal the truth. Rubin, Paulson, Geithner - these are Wall Street clones, they come from Wall Street to serve Wall Street. Just like the FED, the office of the Secretary of Treasury receives no compensation to represent the United States, it operates under the governorship of the IMF.
Wall Street = Globalism.
When the interest rate swapolypse finally hails down on the world, the bankers will make another deal to enslave not just Americans, but all humanity, in forgiveness of the exponentiating, unrepayable debt of the interest rate derivative collapse. You make a deal with the Devil to deliver up your soul, in return for the fantasy of wealth without basis. We did it in 1933, and we're about to do it again.
In America, you are born into bondage as a result of that bargain from the first banker-orchestrated depression. Your labor is taxed, your property is taxed, you work all your life to own nothing, all for an illusion. And we accept this without question.
Unless you are born into generational wealth, your children's children will be obligated to the deal we make with the global elite who are. And our grandchildren will accept the deal, without question, and toil all their lives for the illusion that they can rise above their station, an illusion fueled by debt, and the fantasy of wealth without basis.
That is the future we are headed toward, if the American people don't dance the Tunisian hustle. But a Swapolypse now, this way comes ... http://letthemfail.us/archives/7677
What's wrong with globalization? At the rate we're populating this place, we'll be lucky to have enough food for 8 billion people. It's scary to say, but a one world government seems more appealing to me than letter countries only be responsible for themselves. Climate change, food shortages and overpopulation are very real issues that we'll be faced with in the next 25-50 years. Regardless of what happens, it will be a very different planet.
First, I've yet to be able to find an analysis, or do one to show exactly what kind of effect QE2 had on the Yuan, China peg, forcing China to re-evaluate or experience inflation.
Bottom line is the Fed cannot get Congress or this administration to directly confront China as a currency manipulator or slap across the board tariffs on China for doing so.
To date, Geithner, Obama have wimped out, not done a damn thing, not even called China a currency manipulator in their reports.
Congress saber rattles, yet will not pass a China currency manipulation bill, in spite of having most of Congress as co-sponsors.
In this regard I sympathize with the Fed. They cannot do what Congress and this administration should be doing, so my impression is they are using what tools they can.
So, while the Bernanke bashing is alive and well and I'll be right in line on a host of issues, from residential real estate sector, to housing bubble floats, to toxic asset purchases, to TBTF, to TARP and all of it...
but on QE2 and these latest moves, I'm carefully looking at what's happening and at the moment, lean that Bernanke did do the right thing here.
China did not ease up on Treasuries, they have to buy treasuries for their currency manipulation. They simply route them through the U.K. so it shows up as U.K. holdings instead of China.
You might be interesting in James Hamilton's analysis of QE2 performance:
Our conclusion is that if QE2 made a positive contribution to the improving economic indicators since the program began, it could not have been through the mechanism of shortening the maturity of publicly-held Treasury debt.
The unions played a key role in the demonstrations turned revolution at Tahrir Square and throughout Egypt. They were motivated by the labor arbitrage and general anti worker policies adopted by Egyptian leaders to please the gurus of globalism. The globalists, aka Rubinites, will not give up. They'll try to put "our man in Cairo" in place, ElBaradie, or some other servant to their greater good. So it comes back to the independent unionists from Msahalla and other parts of Egypt who said, 'we've had enough.'
Whew! This is a must read article! Folks, use the share buttons to spread this one around.
Just like most media coverage, such as the budget deficit, you will not hear the real reasons, they will create a few non-issues and the 'debate' those as if they have much to do with anything.
Globalization, wage arbitrage, labor arbitrage not only affects the United States, it affects workers globally and simply needs to be stopped. The point of economies and governments is not to make Goldman Sachs richer, it's to support the nation-state and the people, i.e. workers, middle classes, within it.
and from everything I've looked at, people over 54 cannot retire and more they are experiencing age discrimination. So, this is a visit to the Census database and the BLS to look at the breakdown and trends is a needed task to respond. Normally CR is highly credible, this is a rare event, so I'll find out where this is coming from.
Calculated Risk
Thanks for your comment on CR's piece on "participation rate". I kept reading what he wrote and looking at the charts and thinking about the "Emperor's New Clothes". Specifically, if I understand him (and Bonddad) a significant percentage of decreasing participation is being attibuted to retirerment. But, how can retirement explain the 54 and under decline. Are large numbers of people under 54 retiring?
it went up to 30k. Maybe, just maybe this might show we have a non-debate, debate being spun by corporate interests.
In other words, both parties really try to attack wages, unions, pensions, social safety nets, when these are not even the right questions or causes.
The cost, for example with Medicaid/Medicare is the for profit health sector, forcing American to pay at least twice as much as other countries.
This is a notable battle in the class war. Its also a battle for public opinion. The walkout was a risky move. Walker will gut the union if he can, best we keep an eye on Wisconsin. I hope the crowds grow over the long weekend. 25,000 today!
This story is fairly exploding with major coverage around. I tried to focus on that fact that the budget deficit over two years is a lie, this is all about union busting and a classic example of the never ending blame the worker instead of corporate welfare, FIRE, corporate lobbyists and their demands for the economic malaise of the country.
So, they bring the globe to it's knees through fictional derivatives trading, we pay for it and now the U.S. middle class is once again supposed to pay for it by slashing their wages, more offshore outsourcing and stealing their retirement funds.
That's the overall agenda it appears, same with Congress.
The uber elite give each others awards!
Obama presenting the Medal of Freedom to Bush I (for what!)
It is so corrupt, it's beyond comprehension. As I transverse these various statistical agencies and economic data, I gotta wonder what they are thinking internal, for it's like their statistics and GAO reports, all of the information gathering to set appropriate policy by.....seems to be ignored.
Why bother to have any objective investigative reports or data gathering when politicians continue to spew fiction and worse, enact legislation, policy that's going to damn the U.S. economically further.
I think anyone running for Congress, office should first have to pass a few entrance exams, say economics 101, history 101, statistics 101, even addition and subtraction.
Well summarized.
I really fear that this is where we’re at …..the now current “norm”.
In Illinois we call the obviously colluding and only-hypocritically supportive two parties “The Combine”; i.e., it’s the same goal for both. It’s all about superficially playing to your electorate but in reality supporting the power and money sources (the corporations, deal makers, and money providers). The hypocritical support used to be primarily apparent in how the Republicans played to the extreme right at election time and then all but ignored them till the next election. Now we see it throughout both parties as they kow-tow to the Corporatist agenda. Look at Obama’s response re the WIS governor attempting to unilaterally eliminate collective bargaining for public employees. In an interview, Obama essentially said ‘we all have to sacrifice a bit’. I’ve become convinced that the reason the Democrats don’t even seek to stop the loss of a theme or message, nor even its perversion (e.g. tax cuts for the rich are fine but we need to slash spending ….including the safety net) is that they too are primarily interested in first meeting their obligations to their lobbyist masters.
Empower and encourage the good regulators, the capable Justice Dept? Sorry – we have campaign contributions to encourage and a future revolving door, well-paid retirement tour with these firms in our future.
Sorry, I goofed.
And I'll take it. Numerian wrote this and I posted it since I find his work so stimulating.
How on earth does this happen: "Also if you see that last year the fed was making money, as the value of their bonds went up, as interest rates went down." But I guess they don't have to worry, do they, as you pointed out, "Also let's not forget to discuss the new accounting rule the Fed started this year allowing them to move the losses back over to treasury." The Fed lives off of the generosity of friends.
I've been trying to understand the Middle East and Egypt and I'm seeing a labor revolution. In the case of Egypt, those defying the government with independent unions were behind the Tahrir Square movement/revolution. They're not newbies, they are hardened, tough unionists who have an aim. The Army and the White House think that they can make this go away, return to "normal." But they're up against a fundamental desire for unions and pragmatic movement leadership that can't afford to lose.
Thanks for your thought (or dread;) provoking comments!
Why is the "bloated" public sector being attacked rather than the super rich who pay virtually no taxes and have benefited from the corruption of the conservative government. Sounds like a bit of a red Herring to me. Goldman sachs was complicit in this mess and the average citizen is bearing the brunt of this massive swindle.
Michael's, It is very interesting to see the game by the Fed. His bet was the average investor would jump in to buy the pumped up market. They have not jumped in as evident by the volume and so they continue to pump, and hope to dump. All of the things you stated in section 2 are most likely the case with China. We are in a currency war, the bombs are simply computor entries, so it's no big deal to keep playing this computor game with China. We up your anty because it's all on a computor screen. Just like the 600 billion now of CDS. The low US currency is allowing US companies to repatriate offshore earnings built up over the last several years. Also if you see that last year the fed was making money, as the value of their bonds went up, as interest rates went down. Now that they have lost between 200 to 300 billion dollars since October they don't seem to be letting us know that. Also let's not forget to discuss the new accounting rule the Fed started this year allowing them to move the losses back over to treasury. Also another new little rule by the Fed is to allow money markets to break the buck. Why would they do that???? Also as GS and MS are now banks they can access the Fed window each day. This allows them to loan the money to their leveredged hedge fund clients. 20-60 to 1 to keep the market put going. The last thing is I have been trying to figure out the middle east. If I see what is really going on the US backed leaders of the middle east have been the Sunni's, now the Shite's are the common people who are really rioting, so it is not democracy we are witnessing, but rather a shift to radical Islam. Hence the US influence is going out the window. Tks
The site has a content uprating system, which is that little arrow next to the upper left post, that only those with accounts can see. Site users can uprate something they think is "damn good" to the front page this way.
Congrats on finding a job, and if you see some verified statistics on those with a BS or better, the time it takes them, the percentage who could get something in their field of study, those who found something outside of their field of study and those who cannot find anything at all, please post.
The statistics I'm seeing are varying and getting solid statistics on just NCGs is hard to find (that are accurate).
it took me a year and a half of daily searching to find a good job after graduating in may of 09. it's really tough out there.
http://www.marketskeptics.com/2011/02/frank-wisner-is-in-cairo-at-reques...
But news ages quickly lately...
I commend your courage to reveal the truth. Rubin, Paulson, Geithner - these are Wall Street clones, they come from Wall Street to serve Wall Street. Just like the FED, the office of the Secretary of Treasury receives no compensation to represent the United States, it operates under the governorship of the IMF.
Wall Street = Globalism.
When the interest rate swapolypse finally hails down on the world, the bankers will make another deal to enslave not just Americans, but all humanity, in forgiveness of the exponentiating, unrepayable debt of the interest rate derivative collapse. You make a deal with the Devil to deliver up your soul, in return for the fantasy of wealth without basis. We did it in 1933, and we're about to do it again.
In America, you are born into bondage as a result of that bargain from the first banker-orchestrated depression. Your labor is taxed, your property is taxed, you work all your life to own nothing, all for an illusion. And we accept this without question.
Unless you are born into generational wealth, your children's children will be obligated to the deal we make with the global elite who are. And our grandchildren will accept the deal, without question, and toil all their lives for the illusion that they can rise above their station, an illusion fueled by debt, and the fantasy of wealth without basis.
That is the future we are headed toward, if the American people don't dance the Tunisian hustle. But a Swapolypse now, this way comes ...
http://letthemfail.us/archives/7677
What's wrong with globalization? At the rate we're populating this place, we'll be lucky to have enough food for 8 billion people. It's scary to say, but a one world government seems more appealing to me than letter countries only be responsible for themselves. Climate change, food shortages and overpopulation are very real issues that we'll be faced with in the next 25-50 years. Regardless of what happens, it will be a very different planet.
First, I've yet to be able to find an analysis, or do one to show exactly what kind of effect QE2 had on the Yuan, China peg, forcing China to re-evaluate or experience inflation.
Bottom line is the Fed cannot get Congress or this administration to directly confront China as a currency manipulator or slap across the board tariffs on China for doing so.
To date, Geithner, Obama have wimped out, not done a damn thing, not even called China a currency manipulator in their reports.
Congress saber rattles, yet will not pass a China currency manipulation bill, in spite of having most of Congress as co-sponsors.
In this regard I sympathize with the Fed. They cannot do what Congress and this administration should be doing, so my impression is they are using what tools they can.
So, while the Bernanke bashing is alive and well and I'll be right in line on a host of issues, from residential real estate sector, to housing bubble floats, to toxic asset purchases, to TBTF, to TARP and all of it...
but on QE2 and these latest moves, I'm carefully looking at what's happening and at the moment, lean that Bernanke did do the right thing here.
China did not ease up on Treasuries, they have to buy treasuries for their currency manipulation. They simply route them through the U.K. so it shows up as U.K. holdings instead of China.
You might be interesting in James Hamilton's analysis of QE2 performance:
The unions played a key role in the demonstrations turned revolution at Tahrir Square and throughout Egypt. They were motivated by the labor arbitrage and general anti worker policies adopted by Egyptian leaders to please the gurus of globalism. The globalists, aka Rubinites, will not give up. They'll try to put "our man in Cairo" in place, ElBaradie, or some other servant to their greater good. So it comes back to the independent unionists from Msahalla and other parts of Egypt who said, 'we've had enough.'
Whew! This is a must read article! Folks, use the share buttons to spread this one around.
Just like most media coverage, such as the budget deficit, you will not hear the real reasons, they will create a few non-issues and the 'debate' those as if they have much to do with anything.
Globalization, wage arbitrage, labor arbitrage not only affects the United States, it affects workers globally and simply needs to be stopped. The point of economies and governments is not to make Goldman Sachs richer, it's to support the nation-state and the people, i.e. workers, middle classes, within it.
and from everything I've looked at, people over 54 cannot retire and more they are experiencing age discrimination. So, this is a visit to the Census database and the BLS to look at the breakdown and trends is a needed task to respond. Normally CR is highly credible, this is a rare event, so I'll find out where this is coming from.
Calculated Risk
Thanks for your comment on CR's piece on "participation rate". I kept reading what he wrote and looking at the charts and thinking about the "Emperor's New Clothes". Specifically, if I understand him (and Bonddad) a significant percentage of decreasing participation is being attibuted to retirerment. But, how can retirement explain the 54 and under decline. Are large numbers of people under 54 retiring?
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