The problem is that the new deal and the dem. solutions worked so well after 29 and ww2 that everyone thought is was their right to have a great paying union job. They listened to the GOP about well they would be paying you this way even if there was not union. Why are you paying union dues to get what the great corp. would give you anyway.

Now they are just starting to see what happens when the good old corp. really has control.

They all forget that it was luck that we came out of the big depression as a country of capatilist, not something else. Someone noted in a much earlier thread that the communist were mad at FDR cause he saved cap. from itself. Well we may not be so lucky this time, if we don’t get off our assess.

This is the perfect exact post, we had class war, the rich won. Now how do we take back the playing field and start the fight all over again.

Once the average American understands all this, then change can be effected.

If Krugman or Rob Reich were his econ advisor, you could expect something pretty good but instead, we have more voodoo economics on the horizon. The problem is that the horizon is an event horizon around a black hole.

I said several times capitalism is the problem, not the solution. Some say Obama hasn’t the imagination, but neither would FDR today. We’re tapped out with nothing to do but print money. What would you do were you Obama on being elected and finding things are ever so much worse than reported? How much imagination do you expect that man, or any man, has. What happens if the government holds a bond auction and no one bids? That scenario was considered impossible for auction notes from pretty good borrowers, but it happened. What was guaranteed liquid froze solid. No one’s taken me up on my anti-capitalist rants because it sounds like I tout communism and we know where that leads.

The real problem is hierarchy or class. Capitalism is simply our way of deciding who gets to tell others what to do. People who strive for those positions simply hate humanity more than the rest of us. That’s why they’re so crazy. We’re self destructive for the same reason individuals commit suicide. We think we’re shit and act accordingly. Self advertising is frowned on, but if you click on my name my site deals with the theory in great detail.

this is some meaty post, and it is hard for me to wrap my head around it, except to say this:

If I did my job as poorly as “the suits that run the store” can you imagine how many traffic fatalities would occur?

But with the US housing market collapsing and repossessions rising, fears that they are facing huge losses meant that shares in Fannie Mae and Freddie Mac dropped in value by almost half at one point on Friday.

The two companies have become increasingly important to the ailing US housing market, as more and more banks which previously financed mortgages have stopped lending after racking up huge losses on sub-prime mortgage loans.

With London markets opening before Wall Street tomorrow, investors here will want some sign today from the US administration that it has averted another crisis in its mortgage market.

UK banks’ share prices have collapsed in value during the past year and many have gone cap in hand to shareholders to ask for money to prop up their businesses, with Bradford & Bingley due to ask investors to back a £400million fundraising rights issue this week.”

http://www.dailymail.co.uk/new…..banks.html