Wednesday, September 24, 2008
US bailout robbery blues: it's your money and your life
All across America, from right to left and back again almost everyone is against the bailout for the Wall Street junkies. They think it is a robbery and it is (not to mention rape and murder), but the robbers have a gun to America's head, they have taken all the cash and maxed out all the credit cards, and now they are saying "its your money and your life".
It is looking more and more like Obama is going to win the election (if they don't cancel it). Before the neo cons get run out of Washington and avoid being prosecuted for their crimes, they want to take everything; they are prepared to destroy anything they can't steal.
Like a helpless mugging victim, America will probably be forced to hand over the cash. Not surprising then that the American Army has been ordered to prepare for action - in America. The US Army 3rd Infantry Division's 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations.
• $700 Billion is larger than the annual GDP of the entire country of Mexico.
• $700 Billion is larger than Canada's entire federal debt (Canada is running twin surpluses, so $10 is larger than Canada's entire federal debt).
• Bank Run in Asia (Bank of East Asia, Hong Kong’s third-largest with $51 billion in assets) caused by "malicious rumors on the internet".
useful economic crisis blogs: mish's global economic analysis (check the ongoing comments); also naked capitalism
• Bartcop.com is always good.