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Archive for the ‘finance’ Category

Ask Glenn Beck (1)

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Given that GB is so interested in scams and political shennanigans, I’d love to hear his thoughts on the Banks lending the .gov THEIR OWN MONEY with interest.

Don’t you think GB should also be talking about that? He talks about GM and National Debt but I don’t see anything about the Banks ripping us off.

Glenn – if you’re as non-partisan as you say, I think your audience needs to hear your thoughts on this.

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Written by skepticalsinner

May 18, 2010 at 6:54 pm

The Closest the con has gotten to the light. On…

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Of course, The Daily Show on May 13th.

The Banks (JP Morgan, Goldman Sachs, Bank of America and Citi) made money every day last fiscal quarter, regardless of how the market performed.

Matt Taibbi from Rolling Stone Magazine also broke this story, but I’m shocked how little light has been shed on this, and how very very very FUCKIN VERY little people know about this.

Short version: remember that bailout? Where the .gov lent these banks money at 0% interest? What did the banks do with this money? Well they bought treasuries. In other words, they lent money back to the government… but charged them interest for doing so.

What.The.Fuck.

Written by skepticalsinner

May 18, 2010 at 6:34 pm

The War on Drugs. Not so much as a “Mission Accomplished”

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I came across two excellent opinion pieces.

One from the LA Times 
The United States’ so-called war on drugs brings to mind the old saying that if you find yourself trapped in a deep hole, stop digging. Yet, last week, the Senate approved an aid package to combat drug trafficking in Mexico and Central America, with a record $400 million going to Mexico and $65 million to Central America.
The United States has been spending $69 billion a year worldwide for the last 40 years, for a total of $2.5 trillion, on drug prohibition — with little to show for it. Is anyone actually benefiting from this war? Six groups come to mind.”

And One from Matt Hutchens from the MPP
“For almost forty years, America has been engaged in a war which has cost us trillions of dollars and ruined the lives of millions of our citizens. We have been fighting against drugs in a street war across the country. The definition enemy combatant has changed through the course of this conflict, first encompassing only the smugglers and distributors, then growing to include users, and now reaching beyond our borders to the farmers in the developing world who produce the source crops. Today we are told that all these parties are contributing to the forces of Terror, and that the whole chain of enemy forces is complicit in a conspiracy against us. If this were true, though, wouldn’t we disarm our enemies by taking control of the economic forces that are the source of their power?”

Prohibition fails. Prohibition puts money in the hands of those who have no disregard for law, order, decency or justice. That money isn’t taxed, or accounted for. It’s laundered and used to buy guns. It’s used to corrupt law enforcement officers. It’s used …more

Written by skepticalsinner

July 8, 2008 at 11:58 am