HowardCelebrate Bon Jovi, with Bad Medicine
October 11th 2007 16:58
Jon Bon in a lot of hot water
Subprime is like bad medicine;
A chain reaction starting with the subprime;
Subprime is the tip of the iceberg;
So let’s get down the root of the crime;
The banks got all the suckers;
To sign the dotted line;
They didn’t care if they paid or not
That’s the root of the crime;
The hedge fund bubble was the one they had to please;
Now that it’s crashed, you know what’s what the root of disease;
That’s what you get for letting the Brits;
Run your financial system from the Caymans;
(Baby, on your knees)
That’s what you get for being a sap;
For globalization, and other greenie disease;
(woe, woe, woe, shake it up)!
pix from Really Long Link
http:// http:// web.mit.edu/pearlin /www/images/jonbonjovi.jpg
Subprime mortgages were the root of the crime in a sense, but try to reverse engineer it. What would have happened if in 2003 there was no acceleration of the subprime market? Then the banks would have run out of mortgages to sell "syndicated" as piles and bundles of pieces of mortgages in MBS - Mortgage Backed Securities. So, the whole system would have merely seized up 4 years ago.
The merely cynical could say this was a move to re-elect Bush in 2004. It is nastier than that. It was a way for the British centered financial oligarchy to get the US to continue on its endless war/ globalization path of self-destruction.
And yes, Bon Jovi, that lovable hard rock, heavy metal, top-40, pop, country band (or whatever else they are) is going on tour.
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Comment by S.L.
The Political Brief
Just sign right here, t'will be your treasure
You'll pay a bunch, too much to measure,
Don't read the fine print.
Smaller payments at the start,
Don't worry, we won't break your heart,
Buying a home is just so smart!
Don't read the fine print.
Your credit isn't good enough
To get the best loans, it's so tough.
So buy and hope you'll earn enough.
Don't read the fine print!
A year or so along the line,
The payments raise and now you're cryin'
With tears of laughter at their lyin'
You read the fine print!
Comment by Howard
Real Crash
Comment by S.L.
The Political Brief
Comment by Howard
Real Crash
Comment by S.L.
The Political Brief
America wasn't founded and has not prospered due to governmental control of the infrastructure. Most of the great innovations, cures and leaps ahead came from private individuals who had the freedom to explore the possibilities. Edison didn't invent anything for the government, he invented because he was a genius with great ideas. The same with Alexander Graham Bell and hundreds of others. They may have had government grants, they may have sold some inventions to the government, but the government didn't create the innovations or develop them. It was private enterprise that brought about the freedom and willingness for great inventors to use their talents. It was the opportunity to come up with new ideas that made them willing to do so.
America wasn't founded on big government, Howard. It was founded for the freedom and opportunity to grow and develop and create. It's worked pretty well so far, don't ya think?
The first of the colonies depended on "infrastructure". Everyone worked for "the common good" and each recieved what they needed. The first colonies nearly starved to death. When freedom was interjected, however, prosperity reigned. Whole families worked the fields or the livestock and benefitted for their efforts. It was private enterprise at it's best.
Honestly, Howard, it's common sense and human nature to want to do well and be prosperous. That's why communism always fails. There's no incentive to create, build or prosper (you can't prosper under communism, by the way). Infrastructure includes water, roads, electricity and other basics. It was never meant to include an all-encompassing government that takes your money and gives it away to others who don't work. That's the system we are stepping into these days (a bit of it is already here, like welfare) and it will be disastrous for the country and the citizens.
Comment by Howard
Real Crash
Abe Lincoln not only built the railroads in the civil war using the US Treasury and Greenbacks, but he defeated slavery (free enterprise) and the British!!! This went on from FDR, to the TVA, to Eisenhower and toll-free highways. Under Nixon, Volcker, George Shultz and Henry Kissinger had the dollar taken off the gold standard, so the dollar became in effect the currency of the global speculative bubble--- run from London. The British Empire again!
The British system of having the money people run the government and everything else is satanic and evil. The British system today means slavery, genocide and usury (and drugs and gambling).
And that is what tempted the people with this subprime crap. It was supposed to be safe, because the prices were supposed to go up forever. It should have been illegal! It was a crime from the beginning.
Comment by S.L.
The Political Brief
Comment by Howard
Real Crash
Comment by S.L.
The Political Brief
Just a thought... and I might be way off base... but do you think it's possible that all the problems we've had recently with Chinese products being tainted could be the way those abused workers are revolting? Sort of like the Dutch of old throwing their wooden shoes into machinery? The shoes were called sabo, hence the term sabotage...