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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (122492)	5/6/2010 6:52:39 PM
From: Freedom Fighter	Respond to of 132070

I think everyone should note what's going on in Greece and how the excessive promises of its government caught up with it after a very long time. IMO, this is just the first shot in what will be a series of major financial debacles over time for all the western democracies because virtually all of them have wildly over promised relative to the ability of free market to deliver the required GDP growth. One by one they will all face extreme austerity (and all the social unrest and political risk that comes with that), currency collapse, or both depending on whether they have their own currency and monetize their debt or not. Some of the smaller counties can be bailed out, but when the bigger shoes start dropping watch out. You should also make note that this will probably involve another wealth transfer from the bottom to the top. This time it's less direct. The money is going from the taxpayer, to the IMF, to a borderline socialist country, so it can pay its debt payments to rich bankers that hold that debt and make them whole. For investors, the issue is clear. All paper currencies are intrinsically worthless and all western governments are in atrocious long term financial shape. The risk to those currencies are growing because as things continue to blow up and governments keeping solving the problem of easy money, too much debt, and outlandish promises with more easy money, greater debt etc... even the ignorant and uneducated will start understanding how corrupt and unsound the entire system is. So the demand for hard assets (either businesses or commodities) will continue to grow and virtually all currencies will come under pressure. The risk in holding gold, silver and other monetary alternatives is that when the system is finally in its last days (probably 20 years from now), the government may make holding those assets illegal in order to rob you of your independence from it and maintain its corrupt and unsound system. This system is an unholy alliance between Wall St. and government where the risks of banking are socialized so Wall St can rape and pillage the masses with impunity and so the government can finance the welfare and warfare state with the printing press in ways that not 1 in a 100 Americans will understand. The most pressing issue in this country is dismantling that system and replacing it with a fundamentally sound system that forces fiscally conservative behavior and merit on both government and Wall St.

To: Knighty Tin who wrote (122492)	5/6/2010 11:44:08 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

Knighty, do you know what US intelligence agency designed the bomb used in the 1993 WTC bombing that killed 6 americans? lectlaw.com also, if WTC building 7 fell unexpectedly due to a fire, how did the news agencies get the word it would fall 20 minutes before it actually fell? youtube.com head mumbai terrorist linked to us intelligence washingtonpost.com allvoices.com patrick kennedy ordered not to rescind underwear bomber's passport and he was helped on a plane he otherwise could not have gotten on - they sharp dressed man of influence had to go to airport management to get the bomber on the plane he tried to bomb... washingtonsblog.com they lie to the american public in broad daylight and the populace can't even figure out the basics.

To: Knighty Tin who wrote (122492)	5/7/2010 9:45:34 AM
From: Knighty Tin	3 Recommendations Read Replies (3) \| Respond to of 132070

I hope this dome thing works in the Gulf, but, if you wrote about something like that for a Sci Fi mag, they would reject your story as ridiculous. So, you trap the oil. What happens when the dome gets full of oil and it has nowhere to go? Why does it only trap 80% of the oil? You suck the oil through a straw and store it where? Only the first to words in the preceding sentence seem to make sense. Still, I hope I'm wrong. Meanwhile, Governor Jindl of Louisiana seems to be waffling from his concept that states' rights mean the Fed leaves them alone to take care of their problems the way they want. He is asking for unprecedented monies from the Feds. States' rights only work during prosperous times when there are no problems. In other times it's "Send in the Marines! Now!" The slick seems very slow in making its way to land. That's a good thing, but it seemed in a major hurry before. The Congress wants to raise BP's liability to $10 billion. Say, what? Why is there any limit? If there is any reason for a company to go belly up, destroying the environment by ignoring safety regulations (with Dick Cheney's blessing) sounds like a reason. Every politician in LA is in big oil's pocket. Ditto for Texas, though the slick doesn't seem to be heading this way.