Good News: The Worst is Over! - Mercedes-Benz Forum

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post #1 of 17 (permalink) Old 11-20-2008, 09:09 PM Thread Starter
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Good News: The Worst is Over!

We've lost 52% now, only 48% more to go
The S&P, the market benchmark most followed by professional investors, has now lost nearly 52% since its record high close on Oct. 9, 2007.

"The sick joke, that was not true for the 2000-02 bear market, is that we can now say we have seen the worst of it," said Howard Silverblatt, index analyst at Standard & Poor's. "We can only lose 48.07% more."
U.S. stocks slide to 11-year lows as hopes for auto bailout fade - MarketWatch
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post #2 of 17 (permalink) Old 11-20-2008, 09:15 PM
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This is one of those "Half full, Half empt..shit I just spilled the glass in my lap" observations, isn't it?

McBear,
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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #3 of 17 (permalink) Old 11-20-2008, 09:15 PM
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ha-ha.
Very funny.
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post #4 of 17 (permalink) Old 11-20-2008, 09:19 PM Thread Starter
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Supposedly Paulson threatened martial law in order to get his blank check. Does this seem remotely credible to you? I don't know Alex Jones and I've never heard of this website.
Paulson Was Behind Bailout Martial Law Threat
Inhofe says Treasury Secretary made dire warnings in conference call on September 19th
Paul Joseph Watson
Prison Planet.com
Thursday, November 20, 2008

Senator James Inhofe has revealed that Henry Paulson was behind the threats of martial law and a new great depression prior to the passage of the bailout bill, having made such warnings during a conference call on September 19th, around two weeks before the legislation was eventually approved by both the Senate and Congress.

As we reported at the time, on October 2, Democratic Congressman Brad Sherman gave a stunning speech on the House floor during which he decried the fact that, “Many of us were told in private conversations that if we voted against this bill on Monday that the sky would fall, the market would drop two or three thousand points the first day, another couple of thousand the second day, and a few members were even told that there would be martial law in America if we voted no.”

A few days before, Rep. Michael Burgess also told the House, “Mr. Speaker I understand we are under Martial Law as declared by the speaker last night,” referring to a temporary suspension of the rules and procedures of Congress by its leaders so that a bill can be passed quickly.
But the origin of the most dire warnings about physical martial law in America, to which Sherman was likely referring, has now been exposed.

Speaking on Tulsa Oklahoma’s 1170 KFAQ, when asked who was behind threats of martial law and civil unrest if the bailout bill failed, Senator James Inhofe named Treasury Secretary Henry Paulson as the source.

“Somebody in D.C. was feeding you guys quite a story prior to the bailout, a story that if we didn’t do this we were going to see something on the scale of the depression, there were people talking about martial law being instituted, civil unrest….who was feeding you guys this stuff?,” asked host Pat Campbell.

“That’s Henry Paulson,” responded Inhofe, “We had a conference call early on, it was on a Friday I think – a week and half before the vote on Oct. 1. So it would have been the middle … what was it – the 19th of September, we had a conference call. In this conference call – and I guess there’s no reason for me not to repeat what he said, but he said – he painted this picture you just described. He said, ‘This is serious. This is the most serious thing that we faced.’”

Inhofe said that Paulson told members of Congress the crisis would be “far worse than the great depression” if Congress didn’t authorize the bill to buy out toxic debt, a proposal “which he abandoned the day after he got the money,” added Inhofe.

Inhofe is referring to the controversy last week when it emerged that the bailout money was not going to buy up toxic debt but instead Paulson, the former CEO of Goldman Sachs, had pulled a bait and switch and ordered the money be injected directly into banks.

Senator Inhofe has slammed the secrecy surrounding the destination of the bailout money, saying that Hank Paulson could have given it to his friends and that the “blank check” must be cancelled now.
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post #5 of 17 (permalink) Old 11-20-2008, 09:26 PM
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While I would not be surprised, I have absolutely zero respect for the credibility of Inhofe as he historically has said anything that he could that helped HIS best interest. So I can't gauge whether this is valid or in his self interest.

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post #6 of 17 (permalink) Old 11-20-2008, 09:28 PM
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I can believe it.

Paulson is not stupid.

Now, what do we have? $700B in limbo?

I hope that the new administration will be able to investigate and take all the steps necessary.
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post #7 of 17 (permalink) Old 11-20-2008, 09:33 PM Thread Starter
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Forgive another big paste. This is a contributor ("GreedKills") at the MW forums. Food for thought. The thing about cataclysms like the one we're in, it brings out the looney theories and they're mixed right in with good old horse sense. Sometimes hard to distinguish the two; it's not as though any of us is really privy to what goes on behind closed doors in Washington and Wall Street.
Sorry if this ran long - but...

Maybe we should stop to consider why is it that the people running this nation into the ground behave as if there are no solutions, and certainly never bring them up. We have a massive amount of work to do to rehab this global civilization with new age technology - cars, homes, metropolitan areas, all with energy efficient, environmentally compatible design. But they avoid this view, which would return full employment and confidence, as if it were the plague. Why?

Because they are taking this economy down on purpose. It is the Argentina plan. Unless someone stands up to these criminals and removes them from office, so they cannot do anymore harm this will not stop until they own virtually everything and everyone but themselves are in the poor house, bread line, or working for room and board. In Argentina the people finally stood up and rioted - that is what stopped the carnage. We have not a single protest going against the obvious deceit we see in these hearings and in the actions of the Treasury.

Why didn't the auto execs tell Congress that they had nothing to do with the criminal manipulation of MBSecurities that led to this crises, but Congress sure as hell did. When Rep. Sherman pulled another of his patented PR stunts with the bit about the private planes, not one of the puppy-dog execs reminded
Sherman that he was in Congress when the financial reform act of 1999 was passed, and the bankruptcy bill, and the Iraq war resolution. Wagoner wasn't. Ford wasn't. Chrysler wasn't. Why isn't anyone standing up to these conspirators? Because they are frightened. And yes, I said "conspirators". That does not make me a radical nut, it makes me one who acknowledges history and the nature of wicked ambition. These madmen come in every age and thrive on conspiracy.

Are we going to simply sit here and watch the "other shoe drop". Or will we take action to stop these traitors. I believe the Bush years were about centralizing political power in the executive branch and subduing the enemies of Israel in the Middle East. I believe the Obama years will be about controlling the economies of the world, undermining labor, and suppressing domestic dissent.

Scary days? I suppose. But are we to be scared or compelled? I went to Capitol Hill six times in the last two years and, other than those who I felt were clearly serving this agenda such as Lieberman, Berman, Feingold, Boxer, Feinstein, Wexler, Waxman, Frank, Emanuel, Clinton, Levin, I found the Reps to be a collection of very frightened old men and intimidated young men and women. John Conyers was actually shaking when discussing the prospect of impeaching Bush. Chicago's Danny Davis was afraid to speak above a whisper in his own office. This situation is not happening by accident or due to bad judgement. It is happening according to plan.

Proof? Research what was done in Argentina from 1998-2001 by the very same people, using the same procedures to bankrupt a nation and buy it up on the cheap - oil reserves, water supply, airline, roads, all public assets that were devalued then virtually given away by the government to foreign banks and financiers. Research it yourself, it will give you a solid perspective on what is being done here.

Ask any US mortgage broker who was working from 2003 to 2007 and they will tell you how everyone in the financial field knew the ARMs would blow up and foreclosures would skyrocket. What they didn't know was that the orchestrators of the collapse would actually exaserbate the situation to catastrophic levels by literally closing the doors to credit and trapping people with their debt on their backs. The resulting paralysis has given them a stranglehold on the functioning prosperity of the people of the world. And they love it! Their front men Paulson and Bernanke are having a ball - as if Paulson had enough sense to know it. What a m****. He is not a bright man by any standard. He is a classic dupe. Can barely speak in complete sentences. While Greenspan sits back watching the Fed double its assets in six months and soon to gain oversight power over the financial sectors, while his pals at the hedge funds continue to operate un-regulated. These people steal everything and then make themselves the new cops on the beat. Why? Because they can. How? Because we let them.

I hope some of this will resonate with enough people to change the discussion from how bad things are going to get, to what we can do to stop those who are making it that way. My suggestion is to initiate community groups that will find and promote local, reliable candidates for Congress from our communities to defeat the androids the two parties are sure to put up in 2010. Only by gaining a foothold in Congress, via a ring of legitimate Reps committed to defending our country and our people can we begin to engage these criminals and rally the support of the nation to defeat them.

America does not need investors at this moment, it needs defenders.

Cheers.
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post #8 of 17 (permalink) Old 11-20-2008, 10:00 PM
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My take:

The entire ideology of the current administration was turning US into something between Mexico and China.

Export of the manufacturing and high-paying jobs to the third world was a part of this ideology.

The ultimate goal could not be achieved without elimination of the middle class.

It seems that everything has been accelerated in the latest months.

It might be too late already.

In any case we should demand a full disclosure of the $700B package purpose and distribution.

Fucking A.
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post #9 of 17 (permalink) Old 11-20-2008, 10:10 PM
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Quote:
Originally Posted by maine_coon View Post
My take:

The entire ideology of the current administration was turning US into something between Mexico and China.

Export of the manufacturing and high-paying jobs to the third world was a part of this ideology.

The ultimate goal could not be achieved without elimination of the middle class.

It seems that everything has been accelerated in the latest months.

It might be too late already.

In any case we should demand a full disclosure of the $700B package purpose and distribution.

Fucking A.
I ahve said it in many posts that the middle class was target numero uno
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post #10 of 17 (permalink) Old 11-20-2008, 10:22 PM Thread Starter
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What strikes me about what "GreedKills" says is this: This sh!t is real. It's really happening. Everything we've spent our entire lives earning is being stolen from us. Our country is being trashed. It's really happening.

And we cannot look to our 'leaders'--whether political, financial, or industrial--to get us out. They are the ones who got us in.

Living in Washington for ten years has given me a certain perspective on things. Everyone--coast to coast--inveighs against the "idiots in Washington" and the "criminals in Washington" and all I want to do is climb to the tallest peak and scream back at them "WHO DO YOU THINK SENDS THEM HERE?"

Because everyone thinks Congress is responsible for the mess, yet they send their own representatives back, year after year. It's always someone else's fault.

We have to fix this disaster ourselves. We may not have caused it, but you can be sure that whoever caused it isn't interested in fixing it. We have 1) to protect ourselves to the best of our abilities and 2) cause everyone who was 'in charge' during this debacle to join the growing ranks of the unemployed. I'm not sure we can wait until 2010, and I'm not sure we can do it peacefully. I do know that the forces of reaction are merciless. The brave men who founded our republic had courage--but a lot of them had also come to the point where they felt they had nothing to lose. Perhaps that's what it takes. We may be on our way.
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